In what is regarded as a global first, South Korea’s Parliament approved a legislation banning technology platforms, including Google and Apple, from forcing developers and companies to only use their proprietary billing systems.
Dominance of a few players may not be in the best interest and there is a need to raise competition, says Dilip Asbe.
The unprecedented rush of risk capital has led to more than 240 seed rounds with total disclosed investments of $284 million so far in 2021, according to data from specialist staffing firm Xpheno, shared exclusively with ET.
The company will use the capital to deploy EV chargers across the country and strengthen its technology team, its founders told ET. It plans to expand its network to one million chargers in the next three years.
Dezerv Investments, a wealth management startup, will use the funding from Elevation Capital and Matrix Partners India to build its platform, expand the team and meet regulatory requirements, cofounder Sandeep Jethwani says.
Despite the magnitude of the problem, risk money has largely eluded mental health startups in India, a sector that receives limited public money. According to data sourced from industry tracker Traxcn, Indian startups in the sector raised $20 million combined between 2016 -2020.
Many top Indian digital firms are gearing up to petition the government to draw up rules to prevent Google and Apple from insisting on the use of their proprietary payment systems.