Startups - IncBasil

In Shark Tank India, Peyush Bansal provides funding of Rs 2.5 crore to the ‘tigdambaaz’ pitchers, while Anupam Mittal withdraws support due to suspicions.

Lagan Kapoor11 months ago11 months ago02 mins

The recent premiere of Shark Tank India’s third season introduced new sharks to the panel. In a featured episode, entrepreneurs from Ahmedabad, Kanishka and Raj presented WeHear, a cost-effective hearing device, seeking Rs 2.5 crore for a one per cent equity stake. Although the sharks, especially Peyush Bansal, were impressed by the pitch, they expressed…

The Entrepreneurship Cell (E-Cell) at IIT Bombay has revealed the initiation of its premier event, E-Summit’24, tailored explicitly for startup founders.

Lagan Kapoor11 months ago11 months ago03 mins

IIT Bombay’s Entrepreneurship Cell is gearing up to host its annual flagship event, E-Summit’24, known as ‘the Nexus of Ingenuity.’ Scheduled for February 3rd and 4th, the conclave aims to bridge the gap between current industry leaders and aspiring innovators, emphasizing the role of entrepreneurship in bolstering the Indian economy. E-Summit’24 offers a diverse range…

PayPal is reducing its workforce by approximately 2,500 employees as part of an effort to “right-size” the company.

Lagan Kapoor11 months ago11 months ago03 mins

PayPal, an online payment gateway, is undergoing a workforce reduction that will impact at least 9% of its employees, amounting to approximately 2,500 individuals. Reports from verified PayPal professionals on the anonymous online discussion forum Blind confirm that the layoffs have already begun and are expected to affect around 2,500 jobs, equivalent to 9% of…

India’s inaugural $1 billion artificial intelligence (AI) startup is Krutrim, which Bhavish Aggarwal, the CEO of Ola, established.

Lagan Kapoor11 months ago11 months ago03 mins

Krutrim, the AI startup founded by entrepreneur Bhavish Aggarwal, has reached unicorn status by securing $50 million in funding, with Matrix Partners India among the notable investors. This achievement comes just a month after the company introduced a large language model. Krutrim is now the first Indian AI startup to achieve a billion-dollar valuation. Translating…

Binny Bansal has reportedly stepped down from the board of Flipkart, citing a conflict of interest with his new startup.

Lagan Kapoor11 months ago11 months ago03 mins

Binny Bansal, co-founder of Flipkart, has reportedly resigned from the company’s board following the recent launch of his new e-commerce startup, OppDoor. Earlier this week, the announcement stated that Binny informed the Flipkart board about his decision. OppDoor, a business-to-business (B2B) platform, aims to provide comprehensive solutions for global expansion to emerging e-commerce brands. The…

Gautam Sinha, the former CEO of Times Internet, introduced his latest venture, SimpleO.

Lagan Kapoor11 months ago11 months ago03 mins

Gautam Sinha, former CEO of Times Internet, has embarked on a new entrepreneurial venture with the launch of SimpleO.ai. SimpleO.ai, short for Simple Office, aims to simplify enterprise processes using AI, starting with managing contracts and associated elements like risks, obligations, SLAs, audits, compliance, and governance. With over 35 years of global executive experience, including…

Stan, a gaming startup, successfully raises $2.7 million in a Pre-Series A funding round.

Lagan Kapoor11 months ago11 months ago03 mins

Gaming platform Stan has successfully raised $2.7 million in Pre-Series A funding, with participation from investors including Aptos Labs, Pix Capital, Maelstrom Fund, GFR Fund, and existing investors like General Catalyst. This funding round follows their earlier seed funding of $2.5 million in May 2022, led by General Catalyst and featuring participation from Better Capital…

Cure.fit, led by Mukesh Bansal, has laid off more than 100 employees to attain profitability.

Lagan Kapoor11 months ago11 months ago03 mins

Tata Digital-backed fitness company Curefit, renowned for its brands Cultfit, Sugarfit, and Carefit, has reportedly undergone a significant workforce reduction. This move is part of the company’s strategy to streamline operations and achieve profitability by 2025 (FY25). Impact on Employees: Reports suggest that the layoffs have affected a substantial number of employees, ranging between 100…

The construction of the Ram Mandir in Ayodhya is driving an increase in the popularity and usage of spiritual apps in the region.

Lagan Kapoor11 months ago11 months ago03 mins

“This marks a significant moment for us, akin to the impact Paytm experienced during the demonetization period,” remarked Manu Jain, the co-founder of Vama, a startup based in New Delhi that provides virtual religious ceremonies, darshans, and astrology services. Jain referred to the Indian government’s demonetization in November 2016, which led to a surge in…

Eruditus has joined the trend of Indian startups considering reverse flips and is contemplating an initial public offering (IPO).

Lagan Kapoor11 months ago11 months ago02 mins

Eruditus, a SoftBank-backed unicorn in the education technology sector, is reportedly exploring a change in its base from Singapore to India as part of its assessment for a potential listing on domestic stock exchanges, per insider sources. In the fiscal year 2023, Eruditus has positioned itself as the second-largest tech company in India, generating revenue…

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