New Worker Classification Rule Could Disrupt the US Gig Economy

Uber drivers and other gig economy workers could be legally classified as employees under a new Department of Labor rule that goes into effect in March. The new rule already faces at least one lawsuit, filed by freelance writers who want to remain "independent contractors" rather than employees. Employees are entitled to overtime pay, minimum wage, and other benefits not available to contractors.While people who work as contractors value the flexibility, employment law experts say there's no reason employers couldn't offer flexible hours alongside employee status and the benefits that go along with it. App-based ride-sharing services such as Uber (UBER) and Lyft (LYFT) earned the title of “disruptors” for the way they drove traditional cab companies out of business. Now, they’re trying to fend off the disruption that could be coming for them, in the form of a new federal labor rule. A new regulation on worker classification released this month is already facing at least one legal challenge, and will likely see more pushback from gig economy companies whose business model it threatens. The new law could turn the gig economy upside down, and affect many of the estimated 22.1 million Americans who work as independent contractors, employment experts say. Earlier this month, the Department of Labor released details on a rule setting standards on when a worker counts as an employee as opposed to an independent contractor, entitling them to overtime pay, unemployment insurance, and a slew of other benefits under the law. The new rule, first proposed in 2022, is set to go into effect in March.This week, a group of freelancers, including three New Jersey-based writers, sued the Department of Labor to overturn the new rule. At least one major business lobbying group is also considering legal action. Should the government give “employee” status to workers currently classified as contractors, it would threaten the business models of companies such as Uber, Lyft, and Doordash (DASH), whose contract workers cost their employers much less than traditional employees would.Uber and the Flex Association—a trade group representing gig economy companies—both released statements last week saying that the rule would have no immediate impact on their businesses. “This rule does not materially change the law under which we operate, and will not impact the classification of the over one million Americans who turn to Uber to earn money flexibly,” Uber’s statement reads.  

Edtech Eruditus considers an IPO as it joins the line of Indian firms doing reverse flips.

According to persons with knowledge, the edtech unicorn Eruditus intends to relocate its headquarters from Singapore to India. It will become the next in a long line of foreign-domiciled firms planning a homecoming. Now let's get started:SoftBank-backed comeback child In preparation for a flip back to India, Eruditus is in talks with several law firms and two of the Big Four firms. The decision is related to its intentions for this possible IPO, considering that markets are valuing profitable companies at multiples of their earnings. Eruditus, a company devoted to higher education, is worth $3.2 billion.Drawing a straight line: Indian startups with foreign holding corporations are in different stages of returning to India from places like Singapore and the US. The plans of digital payments company Razorpay to "reverse flip" from the US to India were originally covered by us in May of last year. Together with e-commerce firms Udaan and Meesho, other fintechs including Groww and Pine Labs have also entered the list. Fintech companies are primarily concerned with regulatory matters; nonetheless, some are relocating their registered firms in order to go local public.Numbers game: With revenue of Rs 3,322 crore ($400 million) for the fiscal year 2023, Eruditus is currently the second-largest edtech in India. The business, which reports from July to June, saw a 75% increase in full-year revenue over the prior year.Byju's, the front-runner, has not yet released its audited FY23 financial statements. According to people with knowledge, the troubled company has made over Rs 5,000 crore in sales but has lost more than Rs 8,200 crore. They stated that although it has not yet submitted its FY22 profits to the Registrar of Companies, it has given the investor access to the financials.Overview. Unicorn Edtech Eruditus plans to "reverse flip," or move their domicile from Singapore to India. Pine Labs, Udaan, Razorpay, and Groww are just a few of the Indian online companies that Eruditus is joining. Eruditus is assessing going public on the local stock exchanges.As of fiscal 2023, Eruditus has amassed revenue of Rs 3,322 crore ($400 million), making it the second largest edtech company in India. The business, which reports from July to June, saw a 75% increase in full-year revenue over the prior year.Byju's, the front-runner, has not yet released its audited FY23 financial statements. According to people with knowledge, the troubled company has made over Rs 5,000 crore in sales but has lost more than Rs 8,200 crore. They stated that although it has not yet submitted its FY22 profits to the Registrar of Companies, it has given the investor access to the financials.  

Zomato Notices An Increase In Sovereign Fund Stakes From Singapore And Kuwait

Large sovereign investors from Kuwait and Singapore increased their interests in the listed foodtech startup Zomato at a time when unicorn makers Tiger Global and SoftBank had completely exited the market.Kuwait Investment Authority reportedly purchased 88 million shares in the September quarter and then added an additional 6.7 million shares in the December quarter, increasing its interests, according to an ET report. Conversely, during the December quarter, Temasek, the national fund of Singapore, purchased 95 million shares in the business. Temasek already had 169 million shares through its investment subsidiary.The nation's mutual funds have increased their holdings in Zomato by twofold in addition to the sovereign funds. Mutual funds held a 12.34% interest in the company as of December 2023, about twice as much as they had owned 5.72% of the same time the previous year. As was previously said, it's interesting to note that these changes happened at the same time as institutional investors SoftBank and Tiger Global were pulling out of Zomato.Tiger Global sold 12.24 Cr shares, or 1.44% of the foodtech behemoth Zomato, in open market transactions in August of last year.According to the BSE's bulk deal data, Tiger Global's investment vehicle Internet Fund III Pte Ltd sold the shares in several tranches at an average price of INR 91.01 Cr. The venture capitalist received INR 1,123.84 Cr. in total for the shares that were sold. The prominent French bank Societe Generale purchased the majority of these shares. The other buyers of the offloaded shares were BNP Paribas Arbitrage, Axis Mutual Fund, Morgan Stanley Asia Singapore, Societe Generale, and Kotak's midcap fund.By the end of June 2023, Tiger Global's Internet Fund III owned 1.44% of Zomato. Masayoshi Son-led SoftBank exited the foodtech behemoth situated in Delhi-NCR just last month when it sold 9.35 Cr of Zomato shares in an INR 1,127 Cr block sale.Among the buyers of these shares were Morgan Stanley Asia Singapore, Invesco, ICICI Prudential Insurance, Goldman Sachs (Singapore), and Kadensa Capital.In a block transaction worth INR 621.6 Cr earlier this month, Motilal Oswal Mutual Fund sold 4.5 Cr shares of Zomato for INR 138.15 apiece. The company's stock fell 3% as a result of this block transaction. On January 20, 2023, at the closing bell, Zomato's shares traded for INR 130.10.  

JUMPSTART 2024 IS LAUNCHED BY WEWORK LABS TO SUPPORT EARLY-STAGE START-UPS

WeWork India's investment and acceleration division, through its Growth Campus initiative, would give entrepreneurs discounted access to workspaces, a chance to network with founders, investors, and mentors, and the chance to apply for $200,000 in pre-seed money through investments.WEWORK LABS, THE investment and acceleration division of WeWork India, launched Jumpstart 2024 on Saturday. The program's objectives are to assist early-stage start-ups by introducing them to mentors and the investor community, giving them access to workspaces at a discounted rate, and providing them with a $200,000 seed investment in capital.vStartups and entrepreneurs can get discounted access to workplaces worldwide through WeWork Labs' Growth Campus program. They can also grow their businesses by interacting with mentors, investors, and founders, and they can receive up to $200,000 in pre-seed funding through investments.The arm's goals are to support fledgling companies with idea and product validation, early customer acquisition, market expansion, recruiting, mentorship, and funding.For instance, WeWork will work with founders and carry out the product idea validation using its mentor community within its vast network, explained Arvind Radhakrishnan, associate director and head of WeWork Labs, WeWork India.For example, according to WeWork India's associate director and head of WeWork Labs Arvind Radhakrishnan, WeWork would collaborate with founders and use its extensive network of mentors to validate product ideas."We'll streamline the entire product testing process so that the founder sets up their product for testing in a single conference room. After that, they fill out a brief form with information and leave knowing if their product is useful or not. Would anyone purchase it? "What else should I include in the product roadmap to improve its usefulness?" "And what would the cost be to the people?" Thus, that saves a ton of time, he remarked.Access to WeWork Labs' tech stack, which will aid companies in expanding their operations into new markets, will also be made available through the Growth Campus program. "We identified 13 business building domains for our partner stack, starting from fundamentals like Cloud, Sales, Marketing, Finance, Legal, and even Mental Health," stated Radhakrishnan. WeWork Labs began identifying leaders in these industries with startup-friendly services that address problems with the least amount of friction, he continued. Among the partners are Google, IBM, and AWS. The investment and acceleration division has developed a thesis to identify viable startups and has chosen the consumer services and retail, fintech, healthcare, construction and property tech, and SaaS as their focal areas for further development.WeWork Labs now offers 330 businesses subsidized offices, and by the end of the next year, it hopes to have increased that number to 1,000. WeWork India established its investment and acceleration division in 2018 in an effort to support early-stage companies by providing them with subsidized workspaces and carefully selected founder communities. This was done because the real estate provider was drawing a lot of small-sized teams and enterprises. WeWork Labs did not, however, decide to begin providing financial support for the entrepreneurs until 2023. You are capable of doing all of things, but capital is the kind of fuel that is required. The goal of startups is to turn a profit. WeWork Labs provided funding for our modest start in 2023 after several variations on how to approach this, according to Radhakrishnan."Rather than adding something to the offerings, I think what I want to focus on is being able to deliver it at scale," he said in response to a question about future offerings WeWork Labs wants to add to the program. In addition, he stated that he would like to see the mentorship community grow, enter new markets, serve micromarkets, and switch to larger checks.  

Wow! Momo To International Battery Company: $136 million was raised this week by Indian startups

Following the $1 billion that start-ups raised in December, just around one-fourth, or $250 million, has been raised in the first three weeks of January. The start-ups had raised $145 million and $58 million in the preceding two weeks, respectively. Up till the most recent week of January 19, 2024, 21 start-up agreements raised $136 million for startups. Once more, a small number of names dominated the start-up story in the section.There were just 21 deals this week as opposed to 25 deals the previous week. That suggests that there are a lot of middle-tier transactions that typically cost between $4 and $5 million. Due in major part to the significant money raised by start-ups in the second and third week of December 2023, the start-up funding in the most recent week was -41.9% lower than the average of the previous five weeks. This is the tale of the last six weeks' startup fund-raising.The start-up financing for the most recent week, which concluded on January 19, 2024, decreased by -12.4% week over week but significantly decreased by -41.9% when compared to the average of the previous five weeks. The start-up funding for the week really represented the second week in a row that it exceeded $100 million. The start-up funding has remained above $100 million for four of the past six weeks. Though the amount of start-up funding in the last two quarters has remained much lower year over year, it is evident that the momentum from December is carrying over into January as well. This is the tale of the week's biggest start-up fundraising deals, along with the financiers' information and the application of  Whoa! Momo receives $42 million to grow its QSR business. Leading QSR start-up brand in India, Wow! Momo, is set to get an investment of $42 million (Rs350 crore) from Khazanah Nasional Bhd, the Malaysian Sovereign Fund. A combination of primary and secondary infusions will be invested. In addition to Khazanah, Wow! Momo's departing investor, OAKS Asset, would provide Rs60 crore to the startup investment round. The company plans to use the capital round to support the quick service restaurant (QSR) brand's rapid growth and expansion. Additionally, money will be used to support R&D and distribution. In addition to its main Wow! Momo brand, other well-known brands it carries include Wow! China and Wow! Chicken.$35 million is secured by International Battery Company (IBC) for its aspirations to expand into India. In Karnataka, India, IBC intends to establish a green battery manufacturing factory for electric vehicles. The $35 million (Rs 291 crore) in finance is meant to extend its plans for manufacturing in India. RTP Global led the fundraising round, which also included Beenext, Veda VC, and other influential international investors with bases in the US and South Korea. IBC is a supplier of rechargeable batteries to its clients in the small mobility industry. Its unit is expected to begin production in 2025. The $35 million investment is a part of RTP Global's Pre-Series-A capital round, in which Beenext, Veda VC, and a few other key US and Korean investors also participated.FinAGG raises $11 million to improve MSMEs' access to finance In its most recent funding round, which was headed by Blue Orchard and Tata Capital, FinAGG raised $11 million (Rs 91.40 crore). The money received will be put toward growing and enhancing FinAGG's offline and online presence. The money will also be used to promote product innovation and expand the company's worldwide reach. By the way, distributors, retailers, and MSMEs involved in a brand's upstream and downstream supply chain can apply for credit solutions from FinAGG. In addition to Blue Orchard and Tata Capital, the fundraising round also involved participation from SIDBI and Prime Venture Partners. Prime is a current FinAGG investor.$6 million is raised by Alt Mobility to expand the EV Asset Management Platform. In 2021, Dev Arora, Anuj Gupta, Manas Arora, Harsh Goyal, and Jayant Gupta launched Alt Mobility. In a Pre-Series-A financing round, it has raised $6 million (Rs50 crore). Shell Ventures, Eurazeo, EV2 Ventures, and Twynam led the funding round. With its asset management platform, Alt Mobility facilitates fast EV fleet management for third parties.   

ITPO New Delhi will host the 9th Smart Cities India Expo over three days.

The highly anticipated 9th Smart Cities India 2024 Expo is set to happen virtually and at Pragati Maidan in New Delhi from January 17–19, 2024. It is an international event. Several important organizations focused on sustainability and urban development have joined forces to host this event.The exhibition is a key venue for smart city advancement and will explore the relationship between urban development and advanced technologies. Over the course of the three days, prominent professionals from a variety of sectors will impart their knowledge on the changing landscape of smart cities through a variety of presentations and panel discussions.Important Expo Topics: Combining Renewable Energy and Green Buildings Creative Approaches to Water Conservation and Environmental Cleanup Progress in Urban Mobility Intelligent ICT Applications for Optimizing Resources Opportunities and Challenges for Sustainable Urban DevelopmentOur involvement in this occasion demonstrates our dedication to creating intelligent, sustainable urban landscapes. Professionals, public servants, business executives, and anybody else with an interest in the future of urban living should not miss this event. Participants will have thought-provoking conversations and acquire insightful knowledge, creating a cooperative atmosphere for the development of smart city projects.From January 17–19, 2024, Pragati Maidan in New Delhi will host the 9th Smart Cities India Expo.January 18, 2024, New Delhi: The "National Smart Cities Mission Pavilion" is where the Ministry of Housing and Urban Affairs (MoHUA) and the Smart Cities Mission (SCM) are exhibiting the mission's accomplishments. Models of some of the most significant projects are on display in the National Pavilion. These projects include the Digitization of Manuscripts of Prayagraj Smart City, Area-Based Development of Udaipur Smart City, Connecting Past with Future of Surat Smart City, and Chappan Dukaan of Indore Smart City.On January 19, 2024, a City Leader's Conclave will be held. This event will bring together private entrepreneurs and city leaders to discuss city initiatives and find appropriate solutions for creating sustainable and livable cities. On January 19, 2024, the Smart Cities India Awards will be place to honor the best practices in the 100 Smart Cities and to recognize projects that have had an impact on making our cities livable, sustainable, and economically viable.From January 17–19, 2024, Pragati Maidan in New Delhi will host the 9th Smart Cities India Expo. Key verticals of the smart city framework, such as Smart ICT, Smart Energy, Buildings, Transport, Water, and Clean India, are featured in the three-day exhibition, which is being organized by the Exhibitions India Group and the India Trade Promotions Organization (ITPO). These verticals provide a platform for deeper communication and a hands-on approach to bringing smart cities to reality.Overview of the Smart Cities Mission: Each of the 100 Smart Cities has created Special Purpose Vehicles (SPVs) to carry out Smart City Projects. Approximately 8,000 multi-sectoral projects valued at over ₹1.7 lakh crore are being developed by these 100 SPVs. As of January 15, 2024, more than 6,650 projects totaling over ₹1.32 lakh crores had been completed by the 100 SPVs.  

Repurchase Right Notification for 0.00% Convertible Senior Notes due 2028 Announced by MakeMyTrip Limited

January 18, 2024, Gurgaon, India—(BUSINESS WIRE)—Leading Indian travel service provider MakeMyTrip Limited ("MakeMyTrip" or the "Company") (NASDAQ: MMYT) announced today that it has sent out a Repurchase Right Notice ("Repurchase Right Notice") to holders (each, the "Holder") of its 0.00% Convertible Senior Notes due 2028 (CUSIP No. 56087F AB0) (the "Notes").If the notes are not repurchased, redeemed, or converted before then, they will mature on February 15, 2028. In accordance with the provisions of the February 9, 2021, Indenture (the "Indenture") between the Company and The Bank of New York Mellon, trustee, regarding the Notes, each Holder may demand that the Company repurchase the Notes on February 15, 2024, and February 15, 2026 (roughly three and five years after the Notes were first issued, respectively) (the "Repurchase Right"). The Notes' issuer, the Company, is required to purchase all of the Notes at par on the Repurchase Date (as specified in the Indenture), which falls on February 15, 2024, provided that the Notes are properly tendered by theThe Company filed a Tender Offer Statement on Schedule TO in accordance with the regulations set forth by the United States Securities and Exchange Commission (the "SEC"). There is currently no advice or recommendation from the Company, its board of directors, or its staff to any Holder regarding whether or not to exercise their Repurchase Right.Under the terms of the acquire Right, each Note Holder may demand that the Company acquire all of their Notes, or any portion of their Notes that is an integral multiple of the US$1,000 principal amount, on February 15, 2024.According to the terms and conditions of the Indenture and the Notes, the buyback price for such Notes will be 100% of the principal amount of the Notes to be repurchased. There is no interest due on the Notes as of this date, nor does the Company anticipate any interest to be due on the Repurchase Date. As of January 12, 2024, the total principal amount of the Notes outstanding was US$230,000,000.00. Should the Repurchase Right be exercised and all outstanding Notes be turned in for purchase, a total cash purchase price of US$230,000,000.00 will be paid.  

Nasdaq-Listed Zoomcar’s India Entity Sees Loss Triple To INR 237 Cr In FY23

OVERVIEWZoomcar India reported a 221 percent surge in net loss to INR 237 crore in FY23 from INR 74 crore in the previous fiscal year. Operating revenue for Zoomcar India fell 27% from INR 94.9 Cr in FY22 to INR 69.1 Cr in FY23. Since launching on the Nasdaq on December 29, 2023, Zoomcar's shares have increased by 38%. After completing a merger of a special purpose acquisition company (SPAC), Zoomcar debuted on the Nasdaq last month. The net loss of its India entity increased by more than 3.2X for the fiscal year that ended on March 31, 2023. In the fiscal year 2022–2023 (FY23), Zoomcar India reported a net loss of INR 237 Cr, a 221% increase from the INR 74 Cr recorded in the prior fiscal year. Founded by David and Greg Moran Zoomcar is a self-driving car rental business that launched in 2013. The startup pairs together hosts and guests, who may rent a variety of cars at reasonable rates. Operating revenue for Zoomcar India fell 27% from INR 94.9 Cr in FY22 to INR 69.1 Cr in FY23. The business gets funding from subscriptions and vehicle rentals, to name a couple. Zoomcar's overall revenue, including other income, decreased 27% from INR 94.9 Cr in FY22 to INR 69.1 Cr in the year under review.  90 percent of Zoomcar's business, according to Moran, came from India in a recent interview with CNBC-TV18. The business is present in Egypt and Indonesia as well. Where Was Zoomcar Expended? Zoomcar India had a 10% decrease in spending from INR 359.1 Cr in FY22 to INR 321.8 Cr in FY23. Employee Benefit Costs: The majority of the startup's expenses were allocated to employee costs. Employee costs made up 39.5% of Zoomcar's total expenses, or INR 127.4 Cr. From INR 119 Cr in FY22, it increased by 7%. Advertising Expenses: The startup spent INR 39.5 Cr, a 37% decrease, on advertising during the year under review from FY22's INR 62.3 Cr. Additionally, it paid for incidental expenses of INR 78.4 Cr. It did not, however, include a breakdown of this expense. Following a business combination with Innovative International Acquisition Corp., a company headquartered in Cayman Islands, Zoomcar began trading on the Nasdaq on December 29. Since listing, the company's shares have increased 38%; as of last trade, they were trading at $5.11. Adarsh Menon, a senior executive at Flipkart and Hindustan Unilever, was appointed president of Zoomcar earlier this month.  

Ola Electric Introduces Ola Maps With Upgraded EV Software Move OS 4

The most recent iteration of Ola Electric's e-scooter software platform, called Move OS 4, allows for enhanced routing and a quicker, more precise search feature, according to the startup. A year after Ola announced that it was creating a specific navigation system for its cars and apps, the company has announced that Ola navigation will be used for commercial purposes on Ola EVs. Ola Electric submitted its DRHP to SEBI last month in an effort to raise more than INR 5,500 Cr through an IPO. On Thursday, January 18, Ola Electric released its in-house Ola Maps commercially along with the widespread release of the Move OS 4 software platform for its electric two-wheelers. The most recent iteration of Ola Electric's e-scooter software platform is called Move OS 4. MoveOS 4, according to the electric two-wheeler firm, has elevated navigating to an entirely new plane with Ola Maps. Improved navigation and a quicker, more precise search function are made possible by the updated software. Ola Electric claims that the revised user interface makes it easy for users to access necessary functionality without ever leaving the navigation screen. Furthermore, Ola Maps gives users the ability to mark their favourite spots for a fully customised navigation experience. Through Bluetooth, users may even locate their scooter by pushing places from their phone to it. One year after Ola announced it was working on a specialised maps system for its cars and applications and will soon be launching the system, the company announced that Ola Maps would be used for the first time on Ola EVs for commercial purposes. We are evaluating our own Ola maps! will launch in a few months on our cars and the Ola app! Bhavish Aggarwal, the CEO of Ola, stated in January of 2012. Ola Electric added that MoveOS 4 will provide over 100 new features and enhancements to the Ola S1 Gen 1 scooter range, S1 Pro (2nd Generation), and S1 Air. The update for S1 X+ is scheduled for the upcoming months. The business claimed that in addition to Ola Maps, the updated software version also includes enhancements to "Hill Descent Control" and the addition of "Cruise Control in eco-mode."  

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India Startup Bags from Atsuya The Genesis Innovator Award

Atsuya Technologies, a deep-tech business based in Chennai, won the National business Awards 2023's Genesis Innovator category. Tuesday night in Delhi, Union Industries Minister Piyush Goyal presented the prizes.Atsuya Technologies, a deep-tech business based in Chennai, won the National business Awards 2023's Genesis Innovator category. Tuesday night in Delhi, Union Industries Minister Piyush Goyal presented the prizes. An agency of the Union government, Startup India, announces the awards each year to honour businesses working on innovative products and solutions across a range of industries.The startup redefines operational excellence in enterprises with a focus on sustainability by utilizing cutting-edge technology like artificial intelligence (AI) and the internet of things (IoT). Atsuya Technologies stated in a press release that the company has been assisting companies across industries in making data-driven decisions, improving profitability, and promoting environmental responsibility with one integrated platform that unlocks many use cases for individual business objectives.The company went on to say that a wide range of industries, including retail, quick-commerce, oil and gas, real estate, HoReCa, and more, were using its products. The business supports 65% of the quick-commerce market and 95% of organized meat retailers in India as a technology partner. In the LPG supply chain, the company also helps to improve safety, visibility, and traceability. According to the statement, companies may reduce resource waste, easily incorporate sustainability into their operations, and move closer to reaching net-zero goals with the help of Atsuya's extensive portfolio of solutions."Deep tech and data are set to drive growth and propel us toward a net-zero economy," stated Rahul Ganapathy, CEO and cofounder of Atsuya. I firmly think that India's startup scene has the capacity to propel our country to the forefront of the world economy. I express my sincere gratitude to Startup India and the Indian government for recognizing this potential and for their steadfast assistance in fostering the expansion of entrepreneurs. Keep up with important tech and startup news. Get our daily newsletter delivered right to your inbox to stay up to date on the newest and most important tech news.Atsuya Technologies of Chennai won the National Startup Awards 2023's "Genesis Innovator" category, which is an accolade given by Startup India to up-and-coming firms nationwide. On January 16, National Startup Day, Union Industries Minister Piyush Goyal delivered the award at a ceremony in Delhi. Atsuya technology leverages cutting-edge technology like artificial intelligence (AI) and the internet of things (IoT) to transform company operations while prioritizing sustainability. According to the firm, the startup, which has been a technology partner to 95% of India's organized meat shops and 65% of the quick-commerce market, is now indispensable. The National Startup Awards honor and promote the innovations and contributions made by companies in a range of sectors.  

In a pre-seed round, professional social media platform

  In a pre-seed fundraising round headed by FirstCheque VC, Medial App—a professional social media platform for startup ecosystem—raised $120K from angel investors from Bangalore, Mumbai, and the US, including Nayan Jadeja, Rohitashwa Choudhary, Ankit Aggarwal, and Radhakrishnan Ramachandran.With an emphasis on feature expansion and product launch because of encouraging beta app metrics, the business intends to use the additional funding for product development, user acquisition, and testing of core app features. The majority of the funds raised, according to a Medial press statement, will go into user acquisition, app feature testing, and product development.Aishwarya Raj Pandey, Niket Raj Dwivedi, Harsh Dwivedi, and Prateek Kaien established and oversee Medial, a content-driven platform with a strong community spanning IT, product, and UI/UX industries. It serves as a hub for non-clickbait startup news, industry updates, jokes, and advice in an effort to better the community and encourage candid conversations in the workplace.Medial started out as an integrated platform for professionals in the startup business with the aim of becoming a globally relevant employment board and company profile. The app is creating a network for UI/UX designers, business analysts, venture capitalists, product analysts, and budding entrepreneurs.In addition to being a real-identity professional network similar to Github and LinkedIn, Medial provides an anonymous feature as an additional layer to improve the platform. To a lesser extent, Hood (previously Zorro), FishBowl, Blind, and Reddit may potentially pose competition for it.Medial has over 5,000 users in beta testing and intends to fully launch by the end of January 2024., a business social networking platform, raised $120,000 in its pre-seed round thanks to FirstCheque VC. Prominent angels from the US, Mumbai, Bengaluru, and Rohitashwa Choudhary, among others, Ankit Aggarwal, Radhakrishnan Ramachandran, and Nayan Jadeja, took part in the round.In a pre-seed funding round, Medial, a professional social media network, successfully raised $120,000, or around Rs 1 crore. Leading angel investors from Bengaluru, Mumbai, and the US, such as Nayan Jadeja, Rohitashwa Choudhary, Ankit Aggarwal, and Radhakrishnan Ramachandran, participated in the funding lead by FirstCheque VC. Niket Raj Dwivedi, Aishwarya Raj Pandey, Prateek Kaien, and Harsh Dwivedi launched the startup, which intends to offer more than just a standard social media platform. Medial is a community-driven center for information, specializing in tech, product, and UI/UX industries. It delivers industry updates, startup news, and expert guidance in an uncomplicated, non-clickbait way. The startup says the money obtained will go toward user acquisition, product development, and testing of the main features of the app.   

Adya.ai Secures Funding To Assist Businesses in Developing Apps for ONDC

The pre-series A investment round of Adya.ai, a startup providing digital commerce solutions, has raised Rs 10.5 crore from investors in Indian Angel Network (IAN) and other strategic investors.According to the company, IAN's investors contributed Rs 3.75 crore, with the remaining funds coming from other key investors.Adya.ai, a technology service partner, was founded in 2023 by Shayak Mazumder, CEO and CTO, Archana Mazumder, COO, and Angad Singh Ahluwalia, CBO. The company employs data science and artificial intelligence (AI) to assist businesses with digitizing. It also provides plug-and-play tech stacks as well as other ONDC integration solutions. Enterprise Tech Startup Adya.ai Secures Funding To Assist Businesses In Developing Apps On ONDC Indian Angel Network (IAN) led the pre-Series A funding round, which brought in INR 10.5 Cr ($1.2 Mn). 'Strategic' investors who wished to remain anonymous also participated in the round. IAN gave the startup INR 3.75 Cr. in funding. Digital commerce and technology solutions provider Adya.ai raised Rs 10.5 crore in a pre-Series A funding round, led by investors from Angel Network such as Uday Chatterjee, Romesh Sobti, Sri Prakash, and Hari Balasubramanian. Indian Angel Network (IAN) provided Rs 3.75 crore to this tranche, along with contributions from other key investors.Adya.ai released a news release stating that the firm plans to utilize the money to strengthen its market position, develop its innovative products, and accelerate the development of AI technology.Adya.ai, a SaaS-based solution for data security and ransomware prevention, was co-founded in 2023 by Angad Singh Ahluwalia, Shayak Mazumdar, and Archana Mazumdar. The answer to find a company's most sensitive data, protect it from undue exposure, and alert management in the event that it is stolen or exploited is said to involve big data and machine learning.According to the Bengaluru-based startup, their system also provides businesses with a dashboard where they can view the files and folders that any customer has access to just clicking on a user. The ONDC's technological service partner, Adya.ai, powers major sectors including retail, logistics, F&B, transportation, credit, insurance, and finance.Adya.ai asserts that its technology marketplace has allowed over ten major enterprise contracts, including partnerships with Canara Bank, Aditya Birla Financial Limited, Hindustan Unilever, and others. The company focuses on areas like CPG, financial services, retail, and mobility. The platform for seed and early-stage investments known as the IAN Group is made up of IAN Fund I, BioAngels, and the IAN Angel Group. With investments in 19 distinct industries, the sector-agnostic fund has helped innovative businesses in India and seven other nations.  

TABPS Pets raises funds totaling Rs 6.5Cr.

TABPS Pets Private Limited, a well-known pet food company with its headquarters in Coimbatore, has successfully completed its seed investment round, raising an astounding Rs 6.5 crore. This is a big milestone for the Indian retail pet food market.The pet food firm TABPS Pets has announced that it has raised a total of Rs 6.5 crore from investors, including cricket players Hemang Badhani and KS Bharath. According to the company, the money will be used to enhance manufacturing capacity, widen its networks of distribution, and make investments in R&D to introduce new items. TABPS Pets Private Limited, a well-known pet food company with its headquarters in Coimbatore, has successfully completed its seed investment round, raising an astounding Rs 6.5 crore. This is a big milestone for the Indian retail pet food market. Cricket players Hemang Badhani and K.S. Bharath are two prominent investors who have shown a great deal of interest in this investment round.With a focus on creating pet treats and grooming products enhanced with Ayurvedic advantages, TABPS Pets has made a name for itself in the pet food industry. The company's successful fundraising campaign demonstrates the attention that its dedication to quality and innovation has garnered. The recently obtained funds will be utilized to enhance production capacities, broaden distribution channels, and support R&D projects that will provide innovative and creative products to pet owners.Hemang Badhani and K.S. Bharath, two investors, said how thrilled they were to be a part of TABPS Pets' adventure. "We support the company's commitment to pet welfare and its goals. Hemang Badhani said, "TABPS Pets has shown incredible development, and we are thrilled to be a part of their continued success.This financing success not only establishes TABPS Pets as a major force in the pet food sector but also highlights the expanding significance of inventive and health-conscious product offerings in the Indian pet care retail market. This fundraising round is evidence of the possibilities and prospects of the pet sector in India, as the company looks to expand its offerings and market presence.  

Consumers consume more than five hours of online entertainment on their TVs

The main benefits of streaming on TV include enhanced sound and visual quality, a wide selection of material from OTT providers, and the ease of viewing on a large screen.Customers are increasingly choosing to stream their favorite TV episodes and movies on television, according to a study. In contrast to other available options like smartphones, tablets, and laptops, 78% of respondents preferred streaming online content on their TVs through streaming sticks, smart TVs, and set-top boxes, according to a NielsenIQ study on TV streaming trends commissioned by Amazon in December 2023.Compared to fewer than three hours during the week, nearly 66% of respondents streamed for five hours a day on the weekends. Furthermore, 74% of them watched the same with family, particularly their spouse and kids, and 97% of them preferred to stream internet entertainment on TV during dinnertime. The study found that respondents most frequently viewed items in the comedy genre. In order of preference, sports, thrillers, romances, horror, foreign TV series, and news came in close succession.TV streaming is preferred since it's more comfortable and offers a better watching experience. People are streaming on TV due to improved video and audio quality, ease of access to a wide range of material from OTT providers and internet sources, and availability of an active broadband connection at home. This inclination is also influenced by ergonomic benefits. Watching TV may also help you keep a good posture, which can reduce the aches and pains that come with occasionally holding your phone while watching video.For Indian audiences, speed is important. Lag-free streaming (39%) and a large selection of OTT Apps (24%) were the most requested characteristics by respondents when it came to TV streaming. The ability to stream internet material and live TV shows from DTH channels on a single screen, as well as the availability of voice assistants for content search and smart home appliance control, were additional preferences.Since its inception, online video streaming has advanced significantly, as have consumer streaming habits. Our inclination to watch media on the television, the largest screen in our homes, hasn't changed. Your favorite TV series, films, sports, and more are easily accessible on Fire TV, according to Parag Gupta, Director and Country Manager, Amazon Devices India. With Alexa's universal voice search, finding content on your old, non-smart TV is made easier. Users can also get more out of their current smart TV by using the Fire TV stick, which offers a faster streaming experience and access to over 12,000 apps from a variety of genres.   

WondrLab establishes a base in Europe and purchases the Polish firm WebTalk.

WebTalk is a Polish agency that Wondrlab purchases in a cash and stock transaction. WebTalk acquires an unknown financial stake in Wondrlab. WebTalk clients gain from the acquisition since it gives them access to Wondrlab platforms. The largest acquisition made by Wondrlab to date, this is its sixth. Wondrlab has raised $7 million and intends to acquire 26 acquisitions. The company has opened its European base and aims to generate revenue of Rs 200 crore. The Supervisory Board's new chairman is Jarek Ziebinski.CEO Saurabh Varma of marketing technology startup Wondrlab told ET that the company has acquired WebTalk, a Polish digital agency, for a combination of cash and shares, marking its first international acquisition. WebTalk is a B2C digital marketing agency in the Central and Eastern European (CEE) region that was founded in 2010. Serving over 40 clients in Poland, CEE, and Central Asia, it employs 100 specialists.The acquisition of WebTalk, a Polish digital marketing business, has been announced by Wondrlab Network, an Indian platform-first digital network. With this transaction, Wondrlab has acquired five companies and entered foreign markets for the first time since its founding in 2020.In addition to this purchase, Wondrlab has opened a European Hub in Poland, demonstrating its continued dedication to providing comprehensive solutions and outsourcing for global brands. Clients will have instant access to services in critical areas like digital video, content and community, digital media and data, and digital business transformation through the European hub.With a staff of 100 experts, WebTalk is a results-driven B2C digital marketing agency that was created in 2010 and is run by Michal Dunin. Serving more than 40 customers in Poland, Central and Eastern Europe (CEE), and Central Asia, the agency has a solid clientele that includes well-known brands like Kia Motors, BNP Paribas, Heinz, Bosch, Volkswagen, Total, and Siemens. Michal Dunin will oversee the newly formed Wondrlab European Hub following the acquisition. Wondrlab has designated Jarek Ziebinski as Chairman of the Supervisory Board to manage the company's expansion into Europe. In addition to leading the agency's network in Central and Eastern Europe and acting as CEO and chairman of Leo Burnett, Ziebinski has over thirty years of expertise in marketing, media, and advertising.The CEO and creator of Wondrlab Network, Saurabh Varma, expressed his excitement over the deal and emphasized the historical significance of an Indian company purchasing a multinational corporation. He underlined that Wondrlab's goal of building an elite network with international standards that originates in India has reached a significant turning point with this acquisition. In addition, Varma disclosed intentions to make 21 more acquisitions over the course of the next 36 to 48 months, with a strategic emphasis on developing hubs in Poland, Vietnam, the Middle East, India, and the Middle East. "This is our fifth acquisition and we'll be looking at 21 more acquisitions in 36-48 months," Wondrlab Network Founder and CEO Saurabh Varma stated. Europe is only the beginning for us.   

With voice updates, polls, and other new features, WhatsApp livens up Channels.

In a post on his personal WhatsApp channel today, CEO Mark Zuckerberg revealed some helpful updates to the app's Channels feature. The purpose of the new features is to increase user interaction with the comparatively newer product.   Sending voice updates on channels, which mimics the voice messages feature, is one of the most well-liked additions. Adding voice updates to channels enables channel creators to establish a more personal and intimate connection with their audience, as voice is a convenient and intimate means of communication for many.Channels can also communicate with their followers through polls. Voting polls are now an option for channels, which helps them collect feedback and determine what kind of interest there is.   Users can now share Channel updates to their personal WhatsApp status, which will help Channels reach a wider audience. Channel creators can increase their followings with the aid of this natural sharing.Having up to 16 administrators makes running a channel easier as well. Larger Channels will be able to effectively manage their community and content thanks to this. WhatsApp Channels has already hit 500 million monthly active users, the platform says, helped by Channels from celebrities like Katrina Kaif and Vijay Deverakonda as well as brands like Mumbai Indians, Mercedes F1, and Netflix.        

CRUISE ON LAND PUNTA CANA An Innovative Tourist Destination in the Caribbean

Jan. 12, 2024, PUNTA CANA, Dominican Republic /PRNewswire/ -- LAND CRUISE About twenty-five minutes from the international airport and in close proximity to the most notable tourist destinations in the eastern Dominican Republic is where PUNTA CANA, an innovative and sustainable tourism project, is currently under development. For those looking to invest, travel, or rent a place to live, this development is an ideal prospect.With almost 1,000 units sold in the first phase, the sales of the 4,400 suites and residences have surpassed expectations. This indicates that the complex, which includes a theme park, wave pools, artificial beaches, and an interactive lake, among other attractions, will provide a highly desirable source of employment for the area.Benefits of Investing 1. The tourist spot in the area with the highest profitability 2. Investment security under Fiduciaria La Nacional's supervision and defense 3. Outstanding profitability and safe return on capital gained through rapid appreciation and income production from tourism 4. A vacation project that is being classified under the CONFOTUR Law, which offers a 15-year tax exemptionConcerning the Land Cruise Together with developers from the Dominican Republic, Colombian developers, constructors, and investors comprise Cruise on Land. They have a reputation, track record, and more than ten years of expertise in the real estate and tourist industries.  

Civitatis aims targeting a 50% global growth rate by 2024.

Madrid - Aiming for an aggressive 50% global growth in travelers by 2024, Civitatis, the leading technological platform for booking Spanish-speaking activities, day trips, guided tours, and excursions globally - both in the B2C and B2B channels - is focused on continuous expansion. This news comes after the company recently announced that it will reach a milestone of 10 million travelers by the end of 2023, up 31% from 2022, and that it will significantly increase the number of product and supplier partnerships by the end of 2023, with 6,000 partners providing a total of 87,000 products.Civitatis is targeting triple-digit growth in these regions after strategically appointing regional directors to serve as country managers in key Latin American markets like Mexico, Argentina, and Colombia. These appointments have equipped Civitatis to meet a variety of regional needs.As evidence of Civitatis' anticipated growth, the company just this week took first place in Expansión, the country's premier daily economic publication,'s annual ranking of Spanish companies projected to become "unicorns"—startups valued at $1 billion.Civitatis' internationalization strategy, which was centered on Spanish-speaking regions like Latin America and allowed access to top suppliers, has contributed to the company's recent growth and success by increasing the variety of products and services offered to both B2B and B2C customers. In addition to possessing a thorough grasp of market dynamics and an unshakable dedication to quality, Civitatis has raised marketing expenditures and broadened its network of service providers.