Top Trending StartUps News & Highlights
Perfios FY25 Revenue Exceeds ₹700 Cr, Profit Soars 46% To ₹104 Cr
In the fiscal year that concluded in March 2025, Perfios had a 46% YoY increase in its consolidated net profit of ₹104.3 Cr. For the fiscal year under review, operating revenue increased by 20% to ₹669.5 Cr in FY25 from ₹557.8 Cr in FY24. India continued to be Perfios' top market geographically, with domestic revenue rising 14% from ₹505.5 Cr in FY24 to ₹575 Cr in FY25.PerfiosPerfios Datalabs_in-article-icon, a B2B fintech SaaS unicorn, reported a 46% increase in its consolidated net profit for the fiscal year FY25, reaching ₹104.3 Cr from ₹71.7 Cr in FY24. The Bengaluru-based firm reported its first profit of ₹7.8 Cr in FY23, and this was its third consecutive year of profitability.B2B financial SaaS unicorn Perfios reported a 46% growth in consolidated net profit in the fiscal year ended March 2025 (FY25), hitting ₹104.3 crore from ₹71.7 crore in FY24. According to regulatory records, the company's overall revenue for the period exceeded ₹700 crore, particularly hitting ₹709 crore.
Published 21 Mar 2026 05:46 PM
DrinkPrime, a D2C water purifier brand, increases its valuation by ₹20 Cr to $36.8 million.
In its extended Series A round, DrinkPrime raised ₹20 Cr, or around $2.2 million, in addition to an unknown debt. New investors Artha India Ventures and Mirabilis Investment Trust participated in the round. According to DrinkPrime, the additional funding will be used to expand its field service infrastructure and improve its IoT and data capabilities.Drinkprime is a brand of water purifier. In addition to an undisclosed debt, Datalabs_in-article-icon has raised ₹20 Cr (about $2.2 Mn) in its extended Series A round. New investors Artha India Ventures and Mirabilis Investment Trust participated in the round. In a funding round headed by Artha Venture Fund and Mirabilis Investment Trust, Bengaluru-based D2C water purifier business DrinkPrime raised ₹20 Cr, increasing its worth to approximately ₹340 crore ($36.8 million). With a 30% valuation premium and a 54% increase in FY25 sales to ₹72.13 crore, the firm provides IoT-enabled RO purifiers on a subscription basis.Important Information about DrinkPrime's Capital and Development: Funding Amount: ₹20 Crore ($~2.4M), with Mirabilis Investment Trust and Artha Venture Fund among the partners. Valuation Jump: Compared to its prior valuation of ₹261 crore, the new investment represents a 30% rise to around ₹340 crore (~$36.8 million-$37 million). Performance: In FY25, the startup's sales increased to ₹72.13 crore while its losses decreased from ₹14.14 crore to ₹11.53 crore. Model: DrinkPrime offers IoT-enabled, on-demand RO water purifiers that track water quality and usage in real time for subscription invoicing. Use: The money raised will be utilized to grow the company's smart water purifier subscription service and increase its market share throughout India.
Published 17 Mar 2026 05:32 PM
Before going public, Flipkart completes a reverse flip to India.
According to ET, which cited persons with knowledge of the situation, e-commerce platform Flipkart has finished its reverse flip, moving its headquarters back to India from Singapore. The National Company Law Tribunal had approved the Walmart-owned business in December, but it was still awaiting central government approval in accordance with Press Note 3 regulations. Now that the reverse flip is finished, the online retailer may proceed with its intentions to list in India.As part of the process, Flipkart has already started meeting with merchant bankers. As it gets ready for the prospective IPO, it hopes to file its draft prospectus later this year. Flipkart is able to align its corporate structure with its main business operations, which are mostly based in India, and move its holding company domicile there thanks to the reverse flip. As it gets ready for a possible public listing, the company has previously stated that the change was a part of a larger effort to streamline its organizational structure. The procedure entails local group structure consolidation and the transfer of ownership of the foreign holding entity to an Indian entity.Several Singapore-incorporated companies with operations in fashion, logistics, and payments will be combined into Flipkart Internet, the operating entity with its headquarters located in Bengaluru, as part of the previously described restructuring. The group's main holding company in India will be Flipkart Internet, which will merge with the Singapore-based holding firm in the next phase.
Published 09 Mar 2026 05:24 PM
Revenue Increases 90% While GIVA's Loss Widens 23% to ₹72 Cr in FY25
In the fiscal year that concluded in March 2025, GIVA's operating revenue increased from ₹273 Cr to ₹518 Cr. The cost of materials increased by over 97% year over year to ₹226 Cr, the startup's largest expense for the quarter. The D2C jewelry company is reportedly on pace to report a revenue of ₹800–₹850 Cr in FY26 and is currently in negotiations to raise ₹150–₹200 Cr.GIVA generates revenue by selling jewelry items through its network of physical and online retailers. The company started off specializing in silver jewelry but has since moved into the gold and lab-grown diamond markets. With each channel accounting for almost half of total income, the company reported an almost equal distribution across online and offline channels. Over the course of the year, GIVA surpassed the 200-store mark and is getting close to 300 locations. With the opening of its first store in Sri Lanka, the company has ventured into foreign markets, generating Rs 10.7 crore in FY25 sales. During that time, the company's total revenue was Rs 523 crore.The biggest expense component for Giva, the cost of materials, increased by 97% to Rs 227 crore, or 38% of total costs. The company's inventory increased 108% to Rs 100 crore in FY25 as a result of the increased buying activities. From Rs 50 crore in FY24 to Rs 91 crore in FY25, its employee benefit costs increased by 82%.
Published 24 Feb 2026 05:45 PM
StartUps
StartUps are the backbone of any country and in any Industry as these are the new ventures which entrepreneurs establish and then contribute to the nation growth and progress. The stratups will then grow and become unicorns and create thousands of employments in different sector boosting the economy and take it to the next level.
How corporations and startups may work together most effectively on airport innovation
While startups provide the newest ideas to large corporations, corporations might offer startups some of their first major contracts. Startups are able to think creatively and with agility that many corporates can only imagine. Conversely, corporations possess the size and influence that startups crave.Startups are able to think creatively and with agility that many corporates can only imagine. Conversely, corporations possess the size and influence that startups crave. This is why working together has so many advantages for both parties: startups give these large corporations the newest technology, and corporations can give startups some of their first major contracts. We discussed what it takes to establish the ideal partnership between corporations, investors, and entrepreneurs with a panel of influential representatives from a startup and an international airport operator at the Airport Innovation Days in Paris. The people who spoke to us were:Groupe ADP, one of the largest airport operators globally, has Maylis de la Loge as its investment director. Groupe ADP's innovation project manager, Louis Gauthier Cofounder and CEO of WeMaintain, an IoT-enabled maintenance management firm, is Jade Francine.
At the 2025 Jaipur Literature Festival, Rajasthan's Startup Revolution Takes Center Stage
SUMMARY: As part of the Rajasthan government's iStart initiative, around 130 companies will be exhibiting their products at the Jaipur Literature Festival 2025. At the JLF, startups like the edtech portal We Are One and the foodtech platform MyEats have gained attention. The iStart program, which was started in 2017, offers entrepreneurs full support, including mentorship, incubation, and grants of up to INR 2 Cr.Known by many as the largest literary spectacle in the world, the 17th edition of the annual five-day Jaipur Literature Festival (JLF) began on January 30 in the capital of Rajasthan. Nearly 2,000 speakers and more than a million guests are anticipated for the JLF 2025, which will take place at Hotel Clarks Amer from January 30 to February 3. The JLF has evolved into a hive of ideas, cultures, stimulating debates, and—above all—innovations over the years. The flagship project of the Rajasthani government, iStart, contributes to the innovative aspect of the JLF. The JIF and iStart have been working together for five years in a row to give the state's expanding startup community a stage on which to display its accomplishments. The Department of IT and Communication of the state government launched the iStart project to encourage entrepreneurship and innovation in the state. This year, 130 businesses sponsored by iStart are exhibiting their products at the JLF. These firms range from service-based to AR/VR to direct-to-consumer. They will have the chance to network with participants, get important feedback, and increase their visibility over the five-day festival. Additionally, startups are not required to pay the JLF's exhibition spot reservation charge.
FY24 Revenue for Upstox Increases 25% Year Over Year to INR 1,051 Cr
OVERVIEW According to Upstox, its "net profit" increased 8X year over year to INR 190 Cr. But the figure did not include ESOP expenses. However, its income increased from INR 1,051 Cr in the previous fiscal year to INR 1,311 Cr in the fiscal year 2023–24 (FY24), a 25% increase. According to Upstox, its site has 1.7 Cr users, with over 85% of its clients hailing from Tier II and III cities.Upstox Datalabs_in-article-icon, a broking platform, reported that its revenue increased by 25% to INR 1,311 Cr in the fiscal year 2023–24 (FY24) from INR 1,051 Cr in the prior fiscal year. Upstox said in a statement that its "net profit" increased 8X year-on-year (YoY) to INR 190 Cr as a result of the rise in its top line. ESOP expenditures were not included in the figure, though. With this, the fintech startup asserted that it had reported profitability for a second year in a row. About 85% of Upstox's 1.7 Cr users are from Tier II and III cities, according to the company's statements.Notably, the business generated a profit in FY23, reporting a combined profit of over INR 25 Cr. "We are creating a successful, customer-focused, innovation-driven business that raises the bar for security, speed, and ease of use. Our objective is to establish ourselves as India's most reliable financial partner, facilitating the easy development of wealth for all Indians. stated Upstox cofounder and CEO Ravi Kumar.
The EU works to prevent Chinese takeovers of deeptech businesses.
The European Commission says it would keep new rules on European venture capitalists mild, but it wants to make it more difficult for investors from other nations, such as China, to make large investments in EU businesses creating crucial technology.In the midst of growing US-China competition, the EU executive on Wednesday unveiled a long-awaited set of steps to safeguard its deeptech firms and stop intellectual property from leaking to adversary nations.It suggested amending its foreign direct investment screening law to mandate that all 27 EU nations keep an eye on and possibly prevent foreign takeovers of tech companies in the four sectors the EU deems most sensitive: artificial intelligence, advanced semiconductors, quantum, and biotechnology. Margrethe Vestager, the vice president for digital and competition at the Commission, told a press conference that the measures, which are now being debated with the member states, will also target takeovers from companies that are based in the EU "but controlled from the outside."This implies that large investments from Chinese companies or EU-based companies with LPs in other nations are more likely to be rejected for startups. According to Vestager, "Europe cannot simply be the playground for bigger players in this competition; we need to be able to play ourselves." The rivalry for the technologies we need the most is severe worldwide.
Q3 Profit at MakeMyTrip Soars 12% Year Over Year to $27 Million
OVERVIEW In Q3 of FY25, MakeMyTrip's revenue increased 24.8% to $267.4 million from $214.2 million in the same quarter the previous year. The online travel aggregator made the most money from its hotels and packages division, bringing in $121.9 million. High travel demand in India during the quarter was cited by MakeMyTrip as the reason for the strong growth in its top line.MakeMyTrip Datalabs_in-article-icon (MMT), an online travel aggregator listed on the Nasdaq, recorded a profit of $27.1 million for the quarter that ended December 31, 2024 (Q3 FY25), an increase of 11.8% over $24.2 million for the same quarter the year before.From $214.2 million in the same quarter last year to $267.4 million this quarter, the company's revenue increased 24.8%. The hotels and packages division of MMT, which generated $121.9 million in Q3 FY25, was the main contributor to the company's top line. This represented a 24.9% YoY increase. However, the company's bus ticketing division saw the biggest boost in income. In Q3 of FY25, the segment's revenue soared 31.3% year over year to $35 million. In the meantime, revenue from the airline ticketing industry increased by 20% year over year to $93.8 million. MakeMyTrip credited the strong increase in its top line to the nation's strong travel demand throughout the quarter. It stated that the robust demand for both domestic and international outbound travel in India for the quarter ending December 31, 2024, as opposed to the quarter ending December 31, 2023, was the main cause of the revenue gain.
Paytm se expande a Saudi Arabia, UAE y Singapore; nombra a Bimal Julka, ex funcionario del gobierno, a la gerencia.
Conforme a una declaración regulatoria, la compañía tiene la intención de invertir hasta Rs 20 crore en cada mercado para introducir sus productos de merchant payments y servicios financieros. Paytm es una de varias fintech empresas de India que están expandiéndose hacia el Medio Oriente y Southeast Asia. Examinará organic expansions, alianzas, inversiones y licencia local en estos países.One 97 Communications, a subsidiary of Paytm, has announced planes to extend sus operaciones to Singapore, UAE and Saudi Arabia. Conforme a una presentación regulatoria, la empresa tiene la intención de invertir hasta 20 crore rupees (US$2.31 million) en cada mercado para implementar sus productos de merchant payments y servicios financieros.Conforme a una presentación regulatoria, la empresa tiene la intención de invertir hasta 20 crore rupees (US$2.31 million) en cada mercado para implementar sus productos de merchant payments y servicios financieros. La estrategia de Paytm incluye fomentar el crecimiento orgánico, establecer alianzas y conseguir licencia local en estos países. Además, Paytm ha designado a Bimal Julka, un ex funcionario del gobierno, como director no ejecutivo independente.
Crypto Theft: WazirX Freezes $3 Million in Stolen Assets
As part of its ongoing recovery efforts, WazirX has frozen $3 million worth of stolen assets. This comes almost six months after it was hit by a $235 million hack. Cofounder Nischal Shetty said the company remains “fully committed to recovering stolen funds” and maximising recoveries under the Scheme of Arrangement WazirX’s parent Zettai is actively working with law enforcement agencies to trace and retrieve the stolen assetsThe company said in a statement, "WazirX has been able to freeze the first set of assets that were stolen during the cyberattack (the "Stolen Assets"). These assets are worth about $3M USDT [Tether]."Zettai, the parent company of WazirX, stated that while the platform undergoes reorganization procedures, it is actively collaborating with law enforcement, forensic specialists, investigative authorities, and legal professionals to track down and recover the stolen assets."This is only the start. Nischal Shetty, a cofounder of WazirX, stated, "We are totally dedicated to recovering the stolen funds … [and] maximising recoveries under a scheme."
After JM Financial Starts Coverage With "Buy," Ixigo Shares Rise 3%
SUMMARY: During today's (January 14) intraday trading on the BSE, shares of travel tech giant Ixigo surged by almost 3% to INR 146.90 per share. Following JM Financial's 'buy' rating and initial coverage of the stock, which stated that Ixigo was the new dark horse in the online travel agency (OTA) market, the stock experienced a surge. The firm set a target price of INR 180 for it, indicating a 26% potential increase from the stock's last closing.During intraday trading on the BSE today (January 14), shares of IxigoIxigo Datalabs_in-article-icon surged by almost 3% to INR 146.90 each after brokerage JM Financial began covering the stock with a "buy" rating, stating that the company is the new dark horse in the online travel agency (OTA) market.Ixigo's target price of INR 180 was set by the brokerage, indicating a 26% potential upside from the stock's previous closing of INR 142.90.Ixigo outperformed its competitors with a GTV growth of 34% year over year in the first half of the fiscal year 2024–25 (H1 FY25). In contrast, EaseMyTrip and Yatra recorded a 1% and 9% drop in GTV over the same time, respectively, while MakeMyTrip reported a 23% YoY growth. With 94% of its booked transactions having origins or destinations in non-tier I cities, the brokerage added that Ixigo, which employs a multi-app, multi-brand strategy, is well-positioned to benefit from the expansion of the travel industry in tier II+ cities."Ixigo concentrates on distinction based on improved client experience, in contrast to the majority of OTAs who prioritize greater pricing or discounts. The company accomplishes this by offering value-added services and unconventional utility products and services that allow customers to change or cancel their reservations without worrying about incurring cancellation fees (for a tiny portion of the ticket price), according to JM Financial. Over FY24–27, the brokerage anticipates that the online travel platform will generate revenue growth of 23% and GTV growth of 26%. Furthermore, according to JM Financial, the travel tech major is anticipated to increase its adjusted profit after tax (PAT) and EBITDA by 33% and 45%, respectively, throughout the time.It should be mentioned that Le Travenues Technology, the parent company of ixigo, made its market debut last year. The shares of the firm were listed on the BSE at INR 135 each, which was 45% more than the price at which the IPO was issued. Although the stock has lost more than 12% in the last five trading sessions, it has so far seen an increase of more than 5% since going public.
CoinSwitch Starts INR 600 Cr WazirX Hack Victim Recovery Program
SUMMARY In order to assist WazirX users affected by the significant $230 million (INR 1,900 cr) cyberattack that occurred last year, CoinSwitch initiated an INR 600 Cr recovery scheme. Through incentives, money deposits, and revenue redistribution, the company hopes to assist impacted users in recovering their losses through the "CoinSwitch Cares" project. In essence, the program is an attempt by the cryptocurrency platform to attract WazirX users.To help users of WazirX, a compromised cryptocurrency exchange that suffered a huge $230 million (INR 1,900 crore) cyberattack last year, cryptocurrency unicorn CoinSwitch has started an INR 600 cr recovery scheme. The company hopes to assist impacted individuals in compensating for their losses, depositing money to benefit from the current cryptocurrency market boom, and receiving incentives through the program called "CoinSwitch Cares."Cybercriminals from North Korea are said to have breached WazirX in July 2024, removing over $234 million in cryptocurrency assets from one of its wallets. Over 4 million Indian customers suffered significant losses as a result of the cyberattack, which also damaged confidence in the country's cryptocurrency market.In essence, the project is an attempt by the cryptocurrency platform to acquire WazirX users. Ashish Singhal, cofounder and CEO of CoinSwitch, stated during a virtual "Ask Me Anything" session that the company has launched the CoinSwitch Shares program in an effort to win back the trust of the Indian cryptocurrency community.
Ver.iD, a digital identification startup, raises €2 million and plans to raise €4 million to support its growth in Europe.
In order to grow ahead of the recent eIDAS 2.0 rule, Amsterdam-based Ver.iD, a software as a service platform for digital identity verification, has announced that it has raised €2 million in angel capital.The platform is getting ready for a fresh €4 million investment round to boost its European expansion in the wake of this recent funding round."Ver.iD allows businesses to obtain only the necessary consumer data at a time when news stories are dominated by AI-driven fraud and data breaches. Ver.iD co-founder Robert van Altena states, "This guarantees privacy while making onboarding and verification processes faster, safer, and more user-friendly."Ver.iD, which was founded in 2022, offers businesses and governments a simple-to-use solution for digital identification verification. Ver.iD is completely compliant with modern security standards, such as ISO27001, NIS2, and DORA, and gives consumers complete control over the information they disclose while guaranteeing a smooth experience for businesses. The new European digital identification regulation, eIDAS 2.0, which goes into effect in 2024, has made it more urgent than ever to have safe and easy-to-use solutions in place. Public and private entities, such as banks, energy suppliers, and insurance companies, will have to include digital ID applications into their operations by 2026.Ver.iD intends to play a significant role in this change by providing a solution that minimizes data breaches, fights fraud, and improves user experience while guaranteeing compliance. Ver.iD has been compared to Adyen, another Dutch company that enables companies to take payments via point-of-sale, mobile, and e-commerce. "Ver.iD offers a similar service for identity apps, just as Adyen helps businesses integrate multiple payment methods and lets customers choose their preferred payment method," claims Ver.iD. While consumers can still choose their favorite identity app, the platform enables businesses to easily incorporate ID wallets and digital identification techniques. Leading organizations already use Ver.iD's platform for both experimental (or "change") and daily (or "run") operations, such as: Nationale Nederlanden and Verbond van Verzekeraars:
Taxing periods: The GST hike is expected to provide a rough ride for used car platforms.
Bengaluru: Following the government's decision to impose higher taxes on their margins on the sale of tiny automobiles, India's used car platforms appear to be in for a rough ride after cruising at a double-digit growth rate over the previous five years since the epidemic. On Saturday, the Goods and Services Tax Council made the decision to raise the tax rate from 12% to 18% on the margins of suppliers selling small used cars, including electric vehicles (EVs).A used vehicle platform will now pay 18% goods and services tax (GST) on the margin (₹40,000) if it buys a small car for ₹1 lakh and sells it to a buyer for ₹1.4 lakh after refurbishing, as opposed to 12% previously. Eighteen percent has paid for used EVs and SUVs (sport utility vehicles). Although companies will be able to offset this against input tax credits, startup margins are expected to be impacted in the short term by this initiative to harmonize tax slabs.Industry analysts predict that the 50% tax increase will hurt a sector that sold 51 lakh units in FY23, according to the India Blue Book report that was made public earlier this year. India continues to sell more used automobiles than new ones annually, as seen by the 42.3 lakh new cars sold within the same time period. According to Vikram Chopra, CEO of online used automobile marketplace Cars24.com, "such policies can affect affordability in a country where car ownership is still in single digits [in percentage terms]."
Over 16 Lakh Jobs Are Created by Startups: Commerce Ministry
SUMMARY According to the commerce ministry, 1.57 lakh businesses were recognized by DPIIT as of December 25, and the Indian startup ecosystem has generated over 16 lakh jobs nationwide. According to DPIIT, there are currently over 73,000 businesses in India with at least one female director. Startups like Zomato, Ola, and Nykaa have shown that India can compete in global markets by growing their businesses outside of their country.According to the ministry of commerce and industry, as of December 25, 1.57 lakh companies had been approved by the Department for Promotion of Industry and Internal Trade (DPIIT) under the Startup India initiative, contributing to the creation of over 16 lakh employment nationwide. With 1.57 lakh firms approved by the Department for Promotion of Industry and Internal Trade (DPIIT) under the Startup India initiative as of December 25, the Indian startup ecosystem has generated over 16 lakh jobs nationwide, according to the ministry of commerce and industry.According to the department, the proliferation of startups in a variety of industries, such as fintech, edtech, health-tech, and e-commerce, has been stimulated by the broad availability of reasonably priced internet and a youthful and vibrant workforce.A mix of demographic, economic, and policy variables are propelling India's ascent to the top of the global startup ecosystem, the report stated. With more than 100 unicorns, the Indian startup scene is influencing the direction of innovation and entrepreneurship, according to the DPIIT, which also stated that India has become one of the most dynamic startup ecosystems in the world, earning its position as the third largest startup center.
Cornerstone Exits Node for Startup Intelligence in Retail Analytics
OVERVIEW After IPG acquired Intelligence Node, Cornerstone Ventures made its second exit from Fund I. The exit is made possible by a $100 million (INR 849.5 crore) acquisition agreement with the multinational advertising conglomerate Interpublic Group. NEA, Orios Venture Partners, and BlackSoil Capital are among the investors that Intelligence Node has previously raised $10.25 million from in several rounds.After the global advertising conglomerate Interpublic Group (IPG) acquired retail analytics startup Intelligence Node, SaaS-focused venture capital firm Cornerstone Ventures announced its departure from the business. Additionally, this is the second exit for Fund I of Cornerstone Ventures, which made its initial investment in Intelligence Node in 2019.Intelligence Node's emphasis on a clearly defined worldwide need has always thrilled us. Over the years, the business has been able to provide measurable consumer benefits that have allowed its clients to increase their margins and level of competition," said Nanika Kakkar, a partner at Cornerstone Ventures. Including integration expenses, the deal was valued at about $100 million (INR 849.5 crore). The transaction highlights Intelligence Node's strategic significance in the changing retail landscape, especially given that the company's AI-powered platform presently analyzes more than 1.2 billion products from 190K businesses globally.Since its founding in 2012, Intelligence Node has created a range of AI and machine learning-based solutions to assist companies in optimizing their pricing and digital shelf presence. The platform generates over $600 billion in revenue globally and boasts a 99% product matching accuracy thanks to its unique AI algorithms. According to Sanjeev Sularia, CEO of Intelligence Node, "We have always focused on empowering our clients with data-driven insights that can drive real business value." "Our collaboration with Cornerstone Ventures was crucial in propelling our expansion and expanding the market for these cutting-edge products. An important milestone in our journey has been reached with this IPG acquisition, which presents new prospects for both our business and our clientsBy partnering with IPG, Intelligence Node will take advantage of the global network of the advertising behemoth to increase its reach and provide customers with better value.
"Google in Russia" Yandex sells local assets to expand in Europe.
The majority of its Russian assets have been sold off by the parent company of Yandex, the biggest tech business in Russia and the equivalent of Google in that nation.The agreement gives the Dutch parent business the freedom to expand in Europe, freeing up its hundreds of highly qualified tech workers who left the nation. Its intentions include creating four AI-focused firms, which would be a major entry into the market at a time when competition is intensifying.A haircut from the Kremlin The Dutch parent company of Yandex, which is listed on the Nasdaq, has sold 72% of its Russian business to a group of investors, including Russian oil giant Lukoil, and members of the company's former management. In July, the final 28% of the deal will be completed. According to Russian government regulations on exits for Western corporations, the purchase, which was announced in February after 18 months of discussions, valued the company at $5.2 billion and required a 50% valuation decrease. Yandex was valued at $30 billion at its height.Founded during the dotcom boom of the 1990s, Yandex launched its main search engine in 1997. After that, it added online games, a music streaming service, an online map product, and a ride-hailing service to its list of offerings. The company's plan to become a global internet giant was thwarted by the conflict. Foreign investors stayed away from it, and many of its employees fled the nation. In June 2023, the European Union imposed sanctions on Arkady Volozh, a cofounder of Yandex. In March of this year, the restrictions against him were removed. Currently, Volozh resides in Israel.Negotiations for the sale of Yandex's Russian assets required months of political backstabbing because the Kremlin considered the company to be strategically and economically significant. Putin's spokesperson, Dmitry Peskov, described the business as "one of the largest companies and one of the economy's national champions in high tech," according to Russian newswire Interfax. "The company's continued operations in the nation are important to us."
The law firm with a venture fund mindset
Contrary to what its name might imply, it is not an incubator, private equity fund, or venture capital business. It's a legal practice in one of the oldest law firms in Canada that specializes in offering digital businesses special assistance.By assisting founders with everything from employment contracts to regulatory obstacles and utilizing the firm's wider network to foster genuine connections, the team integrates itself into the day-to-day reality of startup life rather than focusing just on high-profile transactions.Ramji's notion that the proper legal support can be equally as important to a startup's success as its funders is the foundation of its hands-on approach to legal support and its unique payment model.Ramji started her career in trademarks and pharmaceutical patent litigation after receiving her Juris Doctor from Queen's University. After that, she worked for the Canadian Standards Association in an internal legal capacity before attending New York University to obtain a master's degree in law. Ramji's perspective on legal services changed significantly in 2014 when she joined Figure 1, where she oversaw legal and corporate affairs, even if these experiences helped her better grasp business and regulations.
Baichuan, a Chinese AI startup, loses a co-founder
For personal reasons, Hong Tao, a co-founder of Baichuan, a Chinese AI firm, has departed the company. The Beijing-based company thanked him for his efforts, particularly in assembling the monetization team, and announced his resignation on Tuesday.One of China's top AI startups is Baichuan. His departure is a result of continuous leadership changes at Chinese AI firms, which are dealing with heightened competition in the industry. For personal reasons, Hong Tao, a co-founder of Baichuan, a Chinese AI firm, has departed the company. The Beijing-based company thanked him for his efforts, particularly in assembling the monetization team, and announced his resignation on Tuesday. One of China's top AI startups is Baichuan.
Lab-grown diamonds are not "synthetic," according to modern companies.
The term "synthetic" is being opposed by new-age jewelry businesses because it incorrectly equates lab-grown diamonds (LGDs) to diamond simulants. In light of India's fast expanding LGD market, which is predicted to reach $1.19 billion by 2033, they call on the Central Consumer Protection Authority to prioritize consumer education and clear labeling.A wide range of investment opportunities across industries and market segments are presented by India's economic growth. Anupam Tiwari, Head of Equity at Groww Mutual Fund, discusses in a recent livestream how the recently introduced Groww Multicap Fund is ideally positioned to profit from India's changing economic narrative.
Uber introduces a boat hailing service on the picturesque Dal Lake in Kashmir
Srinagar: The charming Dal Lake in J&K is now home to Asia's first water transport service, "Uber Shikara." With shikara reservations on its app, Uber launched the first water transportation service in Asia. 'Uber Shikara', Uber's first water transport service, has been launched, making travel to Dal Lake hassle-free for tourists. By combining technology and tradition, this creative project enables travelers to reserve shikara rides in advance via the well-known ride-hailing app.Seven local Shikara owners have collaborated with Uber, and the company expects to grow its fleet in response to user demand. Government-regulated prices will apply to rides, guaranteeing tourists fair pricing. Nehru Park, an island park in the center of Dal Lake, is where the seven shikaras are stationed. Crucially, Uber will not impose any fees on its shikara partners, guaranteeing that the entire fare is paid to the boat operators directly."Anyone who visits Srinagar must take a shikara ride, which is a classic activity on every traveler's bucket list," stated Ruchika Tomar, Director of Communications at Uber. Our service offers travelers a seamless experience by fusing Kashmir's ancient beauty with the enchantment of technology. Up to four people can travel in each Uber Shikara, which is available for one-hour reservations every day between 10 a.m. and 5 p.m. It is possible to book rides 12 hours to 15 days in advance.
