Article on January 20, 2023
WEF 2023: For Startups, Flat Rounds Are New Up Rounds
Amidst the current conservative environment of investing, what should be the playbook of success for startups across the globe? Solidifying its pathway to profitability and keep delivering quality continue to be the most sought-after advice from investors and successful entrepreneurs
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Edtech Startup upsurge Snags Rs 3 Cr From JCBL India
nvesting in the financial literacy and life skills of children in their early years is not only good for their future, but it is also an investment in the future of our society, said Rishi Aggarwal, JCBL
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Hubilo Gives Pink Slips To 15% Of Its Workforce
Hubilo has now joined the ranks of a slew of technology firms that have given employees pink slips in order to cut costs. Thousands of workers have been laid off by startups across industries, with over 1,500 people losing their jobs in the first few weeks of 2023. Mohalla Tech, the parent company of ShareChat, is a quick commerce platform
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BoAt's Net Profit Falls Over 2% To Rs 68 Crore, Revenue Doubles
BoAt's advertising and promotion spending more than doubled to around Rs 99.1 crore in FY21 from Rs 47.9 crore. It spent Rs 56.1 crore on employee benefits, while it spent Rs 136.6 crore on warranty claims and after-sales services, which are handled by third-party firms
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Auditors Of GoMechanic Raise Red Flags, Read Co-founder's Take
In FY22, the company's auditor BSR, an affiliate of KPMG International issued a disclaimer of opinion stating that the "company has not established its internal financial controls with reference to financial statements", according to media reports
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Flagged Discrepancies In GoMechanic's Business Activities In FY20: PwC
Sequoia Capital owns 27 per cent of GoMechanic, Tiger Global owns 10 per cent, Orios Venture Partners owns 17 per cent, and Chiratae Ventures owns 10 per cent. Strides Ventures, which has disbursed debt to the troubled startup, is also on the list of investors
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SEBI-registered Category 1 Angel Fund Piper Serica Secures Rs 75 Cr
The remaining Rs 25 crore is expected to be raised during the next several months by the fund, according to media reports
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Non-banking Lending Firm Avanse Financial Bags Rs 800 Cr From Kedaara Capital
The primary shareholder in Avanse will still be the current investor Warburg Pincus
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B Capital Closes Third Venture Growth Fund At $2.1 Bn
Together, these funds position B Capital to leverage the firm’s growth investing capabilities across the globe, with an emphasis in U.S. and Asia
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Swiggy Plans To Fire Around 600 Employees Of Its Workforce: Reports
According to the report, Swiggy has a rating scale for all employees, and those who do not receive a rating of 2 are placed on the PIP. They are most likely to be affected by the proposed layoffs
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