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TICE News | This week’s startup news |
Welcome to the latest edition Startup Spotlight brings you the hottest updates and developments from the dynamic world of startups.Breakthrough innovation and government plan For funding and new recruitment Startup space, our breaking news dives into the heart of it Startup ecosystem, always up to date with information and inspiration.
Top general counsel Roshan Thomas resigns from BYJU following high-profile departure
Recently, General Counsel Roshan Thomas left BYJU’S, and previous top-level departures include CEO Mrunal Mohit, CFO Ajay Goyal, CTO Ajit Goyal, and CBO Pratyusha Agrawal. He joins the list of high-profile resignations. 2023 has not been a smooth year for his BYJU, which has always been in the news for controversy.
Zomato increases user platform fees to ₹4 per order
Online food delivery company Zomato has increased the platform fee for its users from 3 ₹ to 4 ₹ per order in 2023. Standard flat platform fees were introduced in August 2023, starting at 2 ₹ per order and increasing to ₹ 2 in stages. 4th in most major markets. Experts expect the fee hike to have a positive impact on Zomato stock.
Dhurva Space and Bellatrix Aerospace successfully test under ISRO’s POEM program
Space startups Dhruva Space and Bellatrix Aerospace have successfully conducted trials under ISRO’s POEM (Platform for Earth Observation with Multi-Sensors) program. Dhurva Space tested her P30 satellite platform and Bellatrix Aerospace successfully tested its green propulsion system. The POEM platform allows space startups, students, and research institutions to conduct experiments.
Bengaluru-based Zoomcar makes public debut on NASDAQ
Zoomcar, a Bengaluru-based startup, recently listed on the American stock exchange NASDAQ. To trade in the US, Zoomcar partnered with Innovative International Acquisition Corp. Despite global expansion plans, the company maintains its 90% focus on the Indian market, with expansion in Southeast Asia and Latin America expected in the future.
Tech startup’s front desk begins mass layoffs
On the third day of the new year, the front desk of a tech startup announced mass layoffs. CEO JC Deppito informed employees of the company’s decision and revealed that the front desk was on the brink of closure. Digital news startup Messenger is also expected to undergo significant job cuts this week.
EaseMyTrip plans to raise Rs 1,000 crore through preferential issue
Online travel service startup EaseMyTrip has announced an ambitious business plan for the new year. The company’s board of directors has approved a priority issue to raise up to Rs 1,000 crore. The company emphasizes that this process complies with SEBI regulations and other applicable laws.
Flipkart co-founder Binni Bansal launches startup ‘Oppdoor’
Flipkart co-founder Binni Bansal introduced a new startup called ‘Oppdoor’. The startup aims to provide end-to-end solutions to e-commerce companies around the world. The company is registered in Singapore and was incorporated in May 2021, according to filings.
950 Crores secured from Alteria Capital in one card
Mobile-first credit card startup One Card has received funding of 9.5 billion rupees (approximately $11.44 million) from Alteria Capital. One Card became a unicorn after raising around $100 million in a Series D funding round in 2022. The company focuses on providing users with digital management of their credit cards.
Captain Fresh raises $13.25 million in Series C extension funding
B2B animal protein marketplace Captain Fresh has secured $13.25 million in a Series C extension funding round. Captain Fresh operates as a farm-to-retail platform for animal proteins such as fish, seafood and sheep. Besides India, the company also has operations in the US, Dubai and Madrid.
Devdham, a dedicated startup, raises Rs 600 crore in seed funding round
Devdham, a dedicated startup, has raised Rs 600 crore in a seed funding round. Notably, this investment comes from Titan Capital, All In Capital, Veda VC, and TDV Partners. Devdham plans to use the funds to develop the temple network, strengthen technological infrastructure and strengthen marketing efforts.
Coliving startup Settl raises Rs 100 crore in pre-Series A round
Coliving startup Settl has raised Rs 100 crore in a pre-Series A funding round to expand its business. The investment comes from Gruhas and We Founder Circle. Including this latest round, Settl has raised approximately Rs 14.9 billion to date. The new funding will be used to expand the team and technology.
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