Latest Startup News, Funding News, Tech News, Insights & Stories from Indian Startup Ecosystem
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: AstroTalk, an online astrology platform, raised ₹78.3 crore in a Series A funding extension from Left Lane Capital and Elev8 Capital. Founded in 2017 by Puneet Gupta and Anmol Jain, AstroTalk connects users with astrologers and other experts via the internet, phone, and chat. The platform boasts 13,000 practitioners and generates 90% of its revenue from…
Key Points Seed Funding Success: EleFant, a Mumbai-based mobile app-based toy library, secured Rs 6 crore in seed funding co-led by Venture Catalysts and Malpani Ventures. Founding Vision: Founded in 2023 by Sourabh Jain, EleFant aims to transform how Indian families engage with toys and play, offering a diverse selection of toys and books for…
In a significant move that underscores the growing demand for high-quality dairy products in India, Telangana-based dairy brand Sid’s Farm has successfully raised $10 million in a Series A funding round. The round was co-led by agritech-focused venture capital firm Omnivore and the Narotam Sekhsaria Family Office (NSFO). Expanding Manufacturing and Talent Acquisition Founded in…
Key Points : These points summarize the current state, challenges, and future outlook of India’s manufacturing sector. Summary India’s manufacturing sector, despite experiencing a slowdown to a three-month low PMI of 55.4 in January 2023, continues to perform above its long-term average. Factors such as rising input costs and reduced foreign demand contributed to the…
Key Points : These points summarize Dubai’s achievements and strategic efforts in attracting FDI in the cultural and creative industries, highlighting its leadership, economic impact, and future ambitions. Global Leadership in FDI: Economic Growth and Targets: FDI Capital and Job Creation: Leadership and Infrastructure: Dubai Economic Agenda (D33): Strategic Engagement with Key Markets: Diverse FDI…
Key Points Investment by Scaler: Scaler, a renowned education provider, is injecting Rs 50 crore into its newly established Scaler School of Business (SSB) to redefine business education in India. Focus on Infrastructure and Curriculum: The investment will be used to develop state-of-the-art infrastructure and enhance the curriculum, integrating real-world insights and industry best practices….