Now, Covid-19 vaccination appointments can be booked on Paytm app

InMobi acquires Shop101 to enter India’s e-commerce market

PhonePe goes to Sebi against Ventureast for ‘scuttling’ Indus OS deal

Byju’s becomes India’s most valued startup after $350 million funding

Education technology major Byju’s has raised close to Rs 2,500 crore, around $350 million, from investors such as UBS Group, Zoom founder Eric Yuan’s family office, Blackstone, Abu Dhabi government fund ADQ and Phoenix Rising – Beacon Holdings, according to regulatory filings. ET has accessed these filings from the Registrar of Companies (RoC). This is […]

Paytm in exploratory talks with three payment gateway firms: Sources

Paytm is in exploratory talks with three payment gateway firms — BillDesk, PayU and BSE-listed Infibeam Avenues — for a possible acquisition, merger or picking up a substantial equity stake in these firms, two people with direct knowledge of the matter said. India’s leading digital payments provider is exploring a deal around the time when […]

Policybazaar gets insurance broking licence from IRDAI

Leading web aggregator Policybazaar on Friday said it has got approval from regulator IRDAI to undertake insurance broking, a development that will help the company augment business and expand bouquet of services. With this development, the company will surrender its web aggregator licence to Insurance Regulatory and Development Authority of India (IRDAI) and undertake business […]

Startups uncertain on future vaccination drives after change in pricing policy

Several delivery and e-commerce startups that undertook mass vaccination drives for their employees or delivery executives in partnership with private hospitals are unclear on how the latest cap on service charge for vaccination will impact their future camps. Earlier this week, the government announced that private hospitals can levy a maximum of 150 as a […]

BookMyShow lays off 200 as pandemic batters movie biz

BookMyShow, an online platform for booking movie tickets and entertainment events, has laid off 200 people, cofounder and chief executive Ashish Hemrajani tweeted on Thursday evening. This is the second major layoff at the company in the last one year as movie theatres largely remain shut and outdoor events have come to a standstill. In […]

Vedanta plans to invest Rs 100 crore in startup initiative Vedanta Spark

Mumbai: Vedanta Ltd. is planning to invest about Rs 100 crore for implementing Vedanta Spark, an initiative by the billionaire Anil Agarwal-led firm to build technological capabilities by partnering with startups. “At Vedanta, we will make it our duty to embrace these startup partners as we strongly believe Vedanta can derive huge enterprise value. Vedanta […]

Cult.fit acquires Tread to launch fitness hardware-at-home business

New Delhi: Cult.fit has acquired Bengaluru-based connected fitness startup Tread to bolster its portfolio of hardware products. No financial details of the deal were disclosed. The acquisition of Tread, which has launched a smart fitness bike, will help Cult.fit launch its hardware-at-home vertical, according to a statement. Tread‘s hardware IP with Cult.fit’s digital content and […]

Italy to assist Indian startups, SMEs to identify global opportunity

The first edition of the Italy India Innovation Day next month is aimed at inviting startups, scale-ups and SMEs based in India that are looking for international opportunities. The initiative is promoted by AIICP the India-Italy Association for Cooperation and Partnership and it looks for Indian startups, scale-ups, SMEs with innovative technologies, products and services […]

Neobank Niyo acquires personal finance startup Index

Mumbai: Neobanking startup Niyo has acquired Bengaluru-based personal finance startup Index for an undisclosed amount, marking its second acquisition in less than a year. The fintech company had acquired Goalwise, a mutual fund investment platform, in a cash-and-stock deal in late July last year. Niyo plans to integrate Index’s services to NiyoX—its newly launched savings […]

BharatPe marks its first acquisition with Payback India

Mumbai: BharatPe has acquired 100% of Payback India, a multi-brand loyalty programme, from American Express and ICICI Investments Strategic Fund for an undisclosed amount. This is the first ever acquisition by the digital payments app. Launched in 2010, Payback India is a brand loyalty platform that allows customers to earn and redeem points on payments […]

Tata Digital acquires majority stake in 1mg

Bengaluru: Tata Digital, a wholly owned subsidiary of the Tata Group, said it is acquiring a majority stake in e-pharmacy 1mg making it the second majority acquisition in the digital economy, after e-grocery BigBasket. Earlier this week, Tata Group also said it had entered into an memorandum of understanding (MoU) with fitness startup Curefit to […]

India's fintech unicorns eye Southeast Asia expansion

TOKYO — India’s most valuable financial technology startups are entering Southeast Asia, bringing a fresh wave of competition for a slice of the region’s young shoppers. Pine Labs, a provider of point-of-sale terminals to retailers, said it was valued at $3 billion in a funding round last month. The company recently began offering a “buy […]

Walmart says open to Flipkart IPO but no specific timeline yet

Mumbai: Walmart International President Judith McKenna said the company is open to Flipkart’s IPO but there is no specific timeline to it. “From the day we made the acquisition or the investment, we made it clear we would be open to an IPO,” McKenna said in a DB Global Consumer Conference. “We will do it […]

Sehwag, Sanjay Bangar launch cricket coaching app Cricuru

Mumbai: Former India cricketers Virender Sehwag and Sanjay Bangar have now donned the entrepreneurial hat as they take the wave of online learning to cricket with the launch of Cricuru, a cricket-coaching app. A subscription-based video-learning platform, Cricuru will also provide Artificial Intelligence (AI) based feedback for batting as well as direct consulting with cricketers […]

Edtech startup Masai School acquires Design Shift Academy

Education startup Masai School, which offers online courses in web and mobile app development, said on Wednesday it acquired Design Shift Academy, an institute that provides guidance on user interface and user experience design. Bengaluru-based Masai School said it was a cash and stock deal, but did not disclose details of the financial terms. “We […]

PremjiInvest-backed Iora Health to be acquired by One Medical

US-based primary healthcare startup Iora Health, in which PremjiInvest had led a $126 million funding round in February last year, has entered into an agreement to be acquired by healthcare company One Medical. The all-stock transaction will value Iora Health at $2.1 billion and will give shareholders of the startup a 26.75% stake in One […]

Oyo, Airbnb, EaseMyTrip, Yatra launch industry body for tourism industry

New Delhi: Leaders of the hospitality and travel industry—including Airbnb, EaseMyTrip , Oyo and Yatra—are joining hands to launch a new industry body called Confederation of Hospitality Technology and Tourism Industry (CHATT). CHATT aims to promote domestic tourism, lead the “digital transformation” of tourism-related business and operating models, “proactively” engage via advocacy programmes to be […]

Zomato appoints Akriti Chopra as co-founder ahead of IPO

Mumbai: Zomato has elevated long-term company executive Akriti Chopra to the position of co-founder ahead of its $1.1-billion initial public offering (IPO), according to an internal email shared by founder Deepinder Goyal. Chopra has been with the online food delivery platform since 2011, when she started as a senior manager of finance and operations. She […]

CropIn joins European Carbon + Farming Coalition to decarbonise European food system

Bengaluru based agritech firm CropIn on Tuesday announced that it has joined the newly formed European Carbon + Farming Coalition, an initiative by the European Union to achieve carbon neutrality goals of the European Green Deal. With agriculture said to be responsible for 10% of the global greenhouse gas emission in Europe, CropIn hopes to […]

Paytm loan to help fund Vijay Shekhar Sharma’s Raheja QBE deal

Bengaluru | Mumbai: Paytm’s proposal to loan an estimated Rs 740 crore to its founder Vijay Shekhar Sharma’s investment firms will be used to finance his purchase of Raheja QBE general insurance company, sources familiar with the matter told ET. An early closure of the Paytm-Raheja QBE deal that was announced nearly a year ago […]

Amazon, Google and Visa are ‘Open’ to neo-banking

Amazon, Google and card network major Visa are separately eyeing a stake in neo-banking startup Open, which is looking to raise a new round of funding of about $100-$120 million, two people aware of the matter said. If successful, Open’s valuation is likely to jump three times to around $600-700 million post the funding round, […]

How Indian startups are mitigating Covid-19 pain for their employees

Mumbai: A few Indian startups have announced allowances to staff as well as other measures of support to deal with Covid-19-related expenses and emergencies. Online food delivery platform Swiggy has put in place under Swiggy Suraksha a host of measures, including nutrition care support, hospitalisation cover of up to Rs 1.5 lakh, and life insurance […]

Swiggy launches covid care package for delivery partners across India

New Delhi: Online food ordering platform Swiggy has announced the launch of a special care package providing support to its over 1.5 lakh delivery partners and their families. The care package—called ‘Swiggy Suraksha’—covers a host of services such as stronger financial support and hospitalisation cover for delivery partners and their families affected by Covid-19, the […]

Paytm invites shareholders to dilute stake ahead of proposed IPO

Mumbai | Bengaluru: One97 Communications, the parent entity of digital payments firm Paytm, is contemplating a mix of fresh issuance of shares along with an Offer for Sale (OFS) for shareholders for its proposed initial public offering (IPO) scheduled later this year. Paytm said in a note to shareholders on Monday that its board had […]

Tata Digital to invest up to $75 million in CureFit, names Mukesh Bansal as president

Tata Digital Ltd, a 100% subsidiary of Tata Sons Pvt. Ltd., on Monday said it will invest up to $75 million in health and fitness startup CureFit. As part of the deal, CureFit’s founder and chief executive Mukesh Bansal will take charge as president of Tata Digital, and will continue in his leadership role at […]

Jeff Bezos to fly to space on Blue Origin rocket

Bengaluru: Amazon.com Inc. founder Jeff Bezos and his brother will fly into space next month on the first space flight of his rocket company Blue Origin, the billionaire said on Monday. “Ever since I was five years old, I’ve dreamed of traveling to space. On July 20th, I will take that journey with my brother,” […]

SoftBank-backed Katerra files for bankruptcy protection

TOKYO — U.S. construction startup Katerra has filed for Chapter 11 bankruptcy protection in a setback for Japan’s SoftBank Group, which invested more than $1 billion in the company. Katerra filed for relief in the U.S. Bankruptcy Court for the Southern District of Texas. It estimated liabilities of $1 billion to $10 billion, and assets […]

SoftBank-backed Katerra files for bankruptcy in US with billions in debt

Bengaluru: Construction startup Katerra Inc., which is backed by SoftBank Group Corp, said on Sunday it has filed for bankruptcy protection in the United States. Katerra said it had secured commitments for $35 million in debtor-in-possession (DIP) financing from SB Investment Advisers (UK) Limited to fund operations during the Chapter 11 process, adding that the […]

KKR to make more bets on Japan's cloud software startups

TOKYO — U.S. private equity giant KKR plans to ramp up investment in Japan’s cloud-based software startups, the latest sign that investors believe businesses will continue to adopt digital services to tackle labor shortages. KKR, whose tech portfolio includes China’s ByteDance, Indonesia’s Gojek and India’s Jio Platforms, recently completed raising a $15 billion Asia fund. […]

Delhivery to list in 6-8 months, expects to raise $500 million via IPO

Bengaluru | Mumbai: Delhivery, a new-age logistics and supply-chain startup plans to list in India anytime between December 2021 and March 2022, its co-founder and chief executive Sahil Barua has said. The company joins a group of late-stage homegrown technology firms that are on course to tap the buoyant public markets. Unless there is a […]

Zomato to transition its entire fleet to electric vehicles by 2030

Food delivery platform Zomato said it will join EV100, a global initiative of companies committed to switching their fleets to electric vehicles by 2030. In a blog post, Deepinder Goyal, cofounder and CEO of the company, said Zomato is already delivering via EVs in cities such as Delhi, Bangalore, and Mumbai and is committed to […]

PhonePe’s battle with BharatPe over suffix set for full trial in July

Digital payments firms BharatPe and PhonePe are finally headed for a full trial over the use of the word ‘Pe’ (pronounced as pay) after nearly two years of court proceedings. Walmart-backed PhonePe, which had filed a lawsuit against New Delhi-based BharatPe claiming trademark rights over the suffix, has withdrawn an injunction plea in the Delhi […]

Govt announces project to support startups developing innovative solutions for elderly

Aiming to encourage the youth to find innovative solutions to help senior citizens, the government on Friday announced a project to select, support and create a one-stop access point of elderly care products and services by credible startups. Elaborating on the Seniorcare Ageing Growth Engine (SAGE) project, Secretary of the Department of Social Justice R […]

Vernacular.ai introduces Covid-19 initiatives for employees

Bengaluru: Vernacular.ai, a Conversational AI startup, has launched several initiatives to help employees navigate the Covid-19 crisis. As part of those initiatives, the company will provide monetary and healthcare support to employees—and their family members—who may have been affected by the pandemic. If an employee tests positive for Covid-19, Vernacular.ai will offer her an advance […]

Clubhouse to launch payments feature in India, to comply with IT rules

New Delhi: Clubhouse, an invite-only audio chat app, will soon introduce payment features in India, allowing users to pay creators for the shows they host on the platform. The feature is already live in the United States. The year-old social media firm is also working towards complying with India’s new IT rules. “…right now our […]

Prosus to acquire Stack Overflow in a $1.8-billion deal

Bengaluru: Prosus NV has struck a $1.8-billion deal to acquire Stack Overflow, an online community for software developers, in what is seen as the e-commerce and technology giant’s first outright buy in the edtech space. New York-based Stack Overflow operates a Q&A website that is used by software developers—and, increasingly, other professionals—for improving their coding […]

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