The Bengaluru-headquartered company will use the fresh funds to expand in existing markets, launch new categories and product capabilities, and strengthen the product and technology teams further, it said.
As the market downturn drags on and investor cash remains hard to come by, more startups will start to run out of money, experts say. Some venture-backed companies will be forced to raise new funding even if it means agreeing to a lower valuation than they once secured, a deal called a down round, dreaded by founders and investors alike.
The legislation will also bolster protection for consumers by making it easier to opt out of online subscriptions and by making it easier to tackle fake reviews, the government said.
The startup industry wants angel tax to be either scrapped or have its exemption threshold of Rs 25 crore raised. This and more in today’s ETtech Morning Dispatch
Tribikram Mishra, vice-president and head of the Roadster brand, has also departed from the fashion etailer to join rollup commerce company Mensa Brands - run by former Myntra chief executive Ananth Narayanan.
Ahead of the ECB's decision about developing a digital euro in October, European banking lobbies have warned that a central bank-backed currency could take deposits and business away from commercial lenders.
New AI features in Microsoft Bing search engine and startup You.com have started to threaten Google's Search dominance, as users seek more efficient search options.