The Ministry of Electronics and IT is looking for clear visibility into financial closure, including the capability to bear expenses over the first five years of operation, ministry officials directly aware of the discussions with applicants told ET.
The company is working with investment banks JM Financial and Barclays for the fundraising, according to people who know about its pitch to investors, and is looking to benchmark itself against Delhivery, the largest third-party logistics player which went public in May.
Tata Technologies, in a PPP collaboration with the Karnataka government, has turned around 150 industrial training institutes (ITIs) into technology hubs aiming to address the vast skill gaps industries are battling.
This joint program pairs HCL and AWS experts to work alongside customer teams to create a long-term plan and key milestones to drive a company’s ongoing digital transformation at an accelerated pace and scale.
This collaboration provides Software Development Kits-powered direct inventory, without intermediaries, creating supply path optimisation for advertisers around the world and establishing increased transparency and efficiency for buyers.
CheQ is backed by angel investors such as Naveen Kukreja, the chief executive of PaisaBazaar, and Shailaz Nag, the founder of Dotpe, among others.CheQ is backed by angel investors such as Naveen Kukreja, the chief executive of PaisaBazaar, and Shailaz Nag, the founder of Dotpe, among others.CheQ is backed by angel investors such as Naveen Kukreja, the chief executive of PaisaBazaar, and Shailaz Nag, the founder of Dotpe, among others.
But Meesho isn’t the only company that has been the target of a Twitter smear campaign in recent months – Easemytrip and even Sequoia have faced similar attacks.
Redington, which supplies Apple iPhones as well as other electronic devices and software in India and other key markets, has been implementing a "pivot" that would rearrange its business channels dependent on brick-and mortar formats to digital streams.
Angel investors including Aniket Deb, the cofounder of B2B packaging firm Bizongo; Wami Capital, the family office of Transworld Group, and Rohit Kapoor, global chief marketing officer of Oyo, also participated in the round.
The tech giant, Meta launched the second phase of the 'Going Online As Leaders' (GOAL) programme that will aim to digitally upskill, connect and empower 10 lakh youth and women from the tribal communities in India.
The report, From Buzz to Reality: The Accelerating Pace of AI in India, will be launched on Tuesday and is based on a survey of nearly 150 providers and 350 enterprises.
The partnership between India Post, which functions under the Department of Posts of the Ministry of Communications, and the CSCs, a special purpose vehicle of the Ministry of Electronics and Information Technology (MeitY), was established earlier this year.
Keeping the downturn in mind, the fund will look to make more early-stage bets, just the way others like Tiger Global are doing in India.
Existing backers Creation Investments, Tiger Global Management and Sequoia Capital led the round, with Google joining in as a new investor.
Seed and Series A investments rose 88% and 22%, respectively, in January-March over the same period in 2021, data from Venture Intelligence that was shared with ET showed.
A senior bureaucrat who was part of his state’s delegation that met Liu said, “it was an opportunity to understand Foxconn’s priorities on its India manufacturing agenda, and their work plan.” Noting that the Taiwanese major is “looking at a basket of products; EVs is one among them, advanced communication equipment is another, and there are several more,” he told ET.
The council - under the Internet and Mobile Association of India (IAMAI) - said wallets that comply fully with know your customer (KYC) norms should be treated on par with bank accounts, and that they should be allowed to disburse credit.
The Tata Group and private equity fund Bain Capital are evaluating the $1-1.5 billion buyout opportunity but are yet to firm up any plans, said the people mentioned above.
About 100 employees of Trell have also voluntarily left the company over the last two months, a source familiar with the developments said.
The platform, Loco Legends, will partner with 50 of India’s most popular e-sports teams and allow fans to buy and trade in virtual collectibles, not unlike how sports fans buy merchandise and collectibles for their favourite sports teams in the real world.
Limbavali, who is also a former minister, has also urged them to hire locals for low-end jobs. He said he has come across instances of tech companies hiring illegal immigrants from Bangladesh for low-end, unskilled jobs.
The application stimulates the shopping experience of customers for essential goods through the earn back programme offered to the consumers everytime they purchase, a company statement said here.
According to the sources, banks were asked to sanction loans for productive sectors to accelerate the revival of the economy facing headwinds, including the Russia-Ukraine war.
That a crypto marketplace should be in cost-cutting mode is hardly a surprise — Coinbase Global Inc. and Crypto.com have announced layoffs in the last two weeks alone — but Indian exchanges face the added burden of a new tax system that executives fear will wipe out what little trading is left. WazirX’s daily volume has slumped about 95% since October, data from CoinGecko shows.
The New Jersey-based cryptocurrency lending company froze withdrawals and transfers earlier this month due to "extreme" market conditions, in the latest sign of the financial market downturn hitting the cryptosphere.
The concern reflects how the data collection practices of companies like Alphabet Inc's Google, Facebook parent Meta Platforms Inc and Amazon.com Inc have the potential to incriminate abortion-seekers for state laws that many in Silicon Valley oppose.
Infosys expects to drive digital and technology-led transformation for its clients, with demand for such services forecast to remain strong even amid global business disruptions.
The Tiger Global-backed startup’s employee benefit expenses increased by 4.6 times to Rs 407.4 crore in FY21 against Rs 88.3 crore in FY20, , according to filings sourced from business intelligence platform Tofler.
After another meeting on Thursday, the industry has decided to seek a six-month extension from the RBI. One fintech founder told us investors are “really spooked”.
Perfora will use the funds to build its team, introduce a range of innovative oral care solutions, strengthen its brand positioning, and expand distribution.
The sector-agnostic fund will invest in pre-seed and seed rounds across consumer internet, healthcare, insurance, financial services, Software as a Service, gaming, and artificial intelligence, a senior executive told ET.
“This is very critical as other RBI guidelines like the one on co-branding cards came in advance, giving time to companies to react. Monday’s note on non-bank prepaid payments instruments (PPIs) is effective immediately,” one of the people involved in the discussion said.
The Softbank Group-backed company, which aims to produce 10 million scooters a year, had moved to the new payment model on May 28. Earlier, customers could only make part payments through four separate windows which opened on specific dates.
In a one-page circular, issued on Monday, RBI had directed all non-bank pre-paid payment instruments (PPIs) to stop loading credit lines onto their products.
The final close of the new fund is expected by the end of next month. Last year, OAKS Asset Management had launched its second private equity fund to invest in consumer startups and mid-size companies in India.
Some partner banks of these card-based fintech firms may also stop supporting their bank PPIs to these platforms after seeking a clarification from the RBI, the people said.
“I don’t expect to see circle-level 5G deployment right away. There is space for both telcos and non-telcos on the table because at the end of the day both are deploying a new technology and will need to collaborate with different technology vendors for it,” said telecom expert Mahesh Uppal.
Government officials told ET that the RBI order, published late Monday, came after commercial lenders had raised concerns with the banking regulator over likely rule breaches by fintech companies.
Cashify will use the funds to double down on marketing, open more refurbishment facilities, and expand offline stores.
The banking regulator believes that fintechs, unlike traditional lenders, lack sufficient capital and credit underwriting capabilities, said a person familiar with the matter.
The Bengaluru-headquartered company, in a statement, said it is governed by a strong code of conduct and condemns any acts of corruption and violation of rules by way of offering or paying bribes or undue favours, either directly or indirectly.
The new services will help customers meet strict latency, data residency, and data sovereignty requirements that are key to many IT modernization efforts. It will also allow Oracle to offer customers nearly 100 services within their premises, which were earlier available only to public cloud consumers.
Doug Herrington joined the company in 2005, went on to launch AmazonFresh in 2007, and has led the company's North American consumer business since 2015.
Users attempting to access certain websites got '500 Internal Server Error' message and many took to social media to report the disruption. The services were restored after the brief disruption.
The companies have written to the National Payments Corp. of India (NPCI), complaining that ₹700 crore of the ₹1,500 crore granted in the budget is being retained by banks.
The investigations revealed that after the incorporation of Alibaba Cloud in March 2017, its Indian-origin partner resigned and the company was transferred to Chinese nationals. It has also found that certain information shared by the company's representative with the RoC in July 2021 was "untrue", they said.
The service, since it started giving cashbacks to users actively over the past couple of weeks, has resulted in a significant surge in daily transaction numbers – to 2-3 million payments per day up from a few hundred thousand till recently, people briefed on the matter said.
The Indian video games industry will be valued at over $2 billion by 2023, according to GlobalData. Such a lucrative opportunity is the biggest motivation for tech companies to acquire or invest in gaming studios, said Guha.
