Latest Startup News, Funding News, Tech News, Insights & Stories from Indian Startup Ecosystem
Honasa Consumer, the parent company of Mamaearth, has lost its unicorn status as its stock price has tumbled nearly 29% in recent sessions. This sharp decline, which has wiped out significant market value, has raised concerns about the company’s financial health and future prospects. As of now, Honasa’s market capitalization stands at ₹7,721 crore (approximately…
Summary: In a bid to enhance the startup ecosystem and promote innovation in India, Finance Minister Nirmala Sitharaman announced the removal of the angel tax. The angel tax, introduced in 2012 under Section 56(2)(viib) of the Income Tax Act, imposed a tax on premiums paid by investors above the fair market value of shares in…
A global Microsoft outage affected users across various sectors, including banks, airlines, and media broadcasters, on Friday. The disruption, occurring just hours after Microsoft began addressing an issue with its Microsoft 365 apps and services, led to widespread reports of service failures. Despite Microsoft’s updates suggesting improvements, outages continued globally. In Australia, major banks, airlines,…
Google has announced a significant price reduction for Google Maps services in India and will begin accepting payments in Indian rupees starting August 1, 2024. This move follows the recent launch of Ola Maps by ride-hailing giant Ola, which offers competitive pricing and billing in Indian rupees. Ola’s transition to its own mapping solution is…
Indian cryptocurrency exchange WazirX suffered a security breach on Thursday, resulting in the temporary suspension of all withdrawals. The breach involved the transfer of approximately $230 million from one of WazirX’s multisig wallets to an unknown address. Web3 security firm Cyvers reported the suspicious activity, leading WazirX to confirm the breach and pause withdrawals to…
Summary Melinda Gates, co-chair of the Bill & Melinda Gates Foundation, announced her departure from the foundation, marking the end of an era for one of the world’s largest private charitable organizations. Her decision comes after she and her ex-husband, Bill Gates, filed for divorce in 2021 after 27 years of marriage but vowed to…
Highlights Control One AI, an emerging leader in AI-driven robotics, has just secured a significant boost in funding, signaling its rapid ascent in the tech startup landscape. With a substantial injection of $350,000 in a pre-seed funding round, the company is poised to revolutionize the supply chain industry, thanks to the backing of a diverse…
Highlights Adukale, a direct-to-consumer (D2C) snacks brand based in India, has successfully raised Rs 11 crore (approximately $1.3 million) in a pre-Series A funding round. The funding was led by Force Ventures, with participation from Aanya Ventures and notable angel investors including Subrata Mitra and Radhika Pandit. Enhancing Manufacturing and Expansion Plans The primary objective…
Summary:Noida-based edtech startup Aviotron Aerospace secures INR 4.96 Cr ($600K) in Pre-Series A funding led by Enrission India Capital, bolstering its position in the education technology sector. Founded in 2019, the startup aims for nationwide expansion, offering experiential learning solutions to K-12 students across India. Noida-based edtech startup, Aviotron Aerospace, makes waves with a successful…
From Billionaire to Zero: BYJU’S Founder’s Net Worth Crashes as Edtech Battles Challenges BYJU’S founder Byju Raveendran has seen his net worth plummet to zero, a stark reminder of the company’s current struggles. According to the Forbes Billionaire Index, Raveendran’s wealth stood at a staggering INR 17,545 crore ($2.1 billion) just a year ago. This…