by Elon Musk’s Twitter to be Renamed ‘X’ as Part of Rebranding Plan
Elon Musk has announced plans to rename Twitter to “X” as part of a rebranding effort. The change is seen as a way to distance the company from its current identity and to reflect Musk’s vision for the platform.
Read More….Elon Musk’s Twitter to be Renamed ‘X’ as Part of Rebranding Plan
Byju’s and Lenders Reach Agreement to Restructure $1.2 Billion Loan: Report
Byju’s, the Indian edtech giant, has reached an agreement with its lenders to restructure a $1.2 billion loan, according to a report by the Economic Times. The agreement, which is still subject to final approvals, would see Byju’s extend the maturity date of the loan by two years and reduce the interest rate.
Read More….Byju’s and Lenders Reach Agreement to Restructure $1.2 Billion Loan: Report
Edtech Giant Byju’s Vacates Largest Bengaluru Office Space to Cut Costs amid Funding Delay
Edtech giant Byju’s has vacated its largest office space in Bengaluru, as it seeks to cut costs amid a delay in securing new funding. The company had leased the 5.58 lakh square feet space in the Kalyani Tech Park in Bengaluru in 2021, but has now asked its employees to work from other premises or from home.
Read More….Edtech Giant Byju’s Vacates Largest Bengaluru Office Space to Cut Costs amid Funding Delay
Industrial Automation Startup Ethereal Machines Raises $7.3 Million
Bengaluru-based industrial automation startup Ethereal Machines has raised $7.3 million in a Series A funding round led by Surge, the early-stage venture capital program of Peak XV Partners (formerly Sequoia India and Southeast Asia). The round also saw participation from Blume Ventures, Ganapathy Subramaniam of Celesta Capital, former Blackstone India head Mathew Cyriac, and executive chairman of Cadence Design Systems Lip-Bu Tan.
Read More….Industrial Automation Startup Ethereal Machines Raises $7.3 Million
Faad Network launches accelerator for agritech startups
Faad Network, an agritech platform, has launched an accelerator program for agritech startups. The program, called Faad Agritech Accelerator, will provide startups with mentorship, access to investors, and support in developing their products and services.
Read More….Faad Network launches accelerator for agritech startups
PhonePe launches income tax payment feature
PhonePe, India’s leading digital payments platform, has launched a new feature that allows users to pay their income taxes directly from the app. The feature is available to both individuals and businesses.
Read More…PhonePe launches income tax payment feature
PayNearby to offer healthcare services in rural areas
PayNearby, a fintech company that provides last-mile payments and commerce solutions, has announced that it will offer healthcare services in rural areas. The company will partner with healthcare providers to offer a range of services, including teleconsultations, diagnostic tests, and medicine delivery.
Read More….PayNearby to offer healthcare services in rural areas
Zomato begins liquidation of Portugal-based subsidiary
Food delivery platform Zomato has begun the liquidation of its Portugal-based subsidiary, Zomato Media Portugal, Unipessoal Lda. The company announced the decision in a filing with the Bombay Stock Exchange (BSE) on July 21, 2023.
Read More…Zomato begins liquidation of Portugal-based subsidiary
Swiggy begins second tranche of its ESOP liquidity program totaling $50 million: Report
Swiggy, the food delivery giant, has begun the second tranche of its employee stock ownership plan (ESOP) liquidity program. The program will allow eligible employees to sell up to $50 million worth of their vested ESOPs.
Read More….Swiggy begins second tranche of its ESOP liquidity program totaling $50 million: Report
Indian startups under high pressure, causing some to fail: Zoho’s Sridhar Vembu
Zoho co-founder and CEO Sridhar Vembu has said that Indian startups are under high pressure, which is causing some to fail. He made the comments in an interview with the Economic Times. Vembu said that the pressure on startups is coming from a number of factors, including the high cost of living in India, the competitive landscape, and the expectations of investors.
Read More….Indian startups under high pressure, causing some to fail: Zoho’s Sridhar Vembu
Tring India Achieves Impressive 7x Growth and is on the Course of Profitability in FY 23-24
Tring India, a leading provider of cloud-based contact center solutions, has announced that it has achieved an impressive 7x growth in revenue in FY 23-24. The company is also on the course of profitability, with EBITDA margins expected to be in the mid-teens in the current fiscal year.
Read More….Tring India Achieves Impressive 7x Growth and is on the Course of Profitability in FY 23-24
Article By CA Pankaj Dara
