Goldman Sachs-backed ZestMoney, once valued at $450M, to shut down

ZestMoney, a buy now, pay later startup whose ability to underwrite small ticket loans to first-time internet customers attracted many high-profile investors, including Goldman Sachs, is shutting down

Doubtnut, once offered a $150M deal by Byju’s, sells for $10M

Allen Career Institute has acquired Doubtnut in a deal that values the young edtech at $10 million, according to a person familiar with the matter, a stunning reversal of fortune for the once fast-gro

India’s MoveInSync eyes $50-60M in fresh funding

MoveInSync, an Indian startup offering mobility solutions to blue-chip companies for workplace commute, is engaging with investors to raise a growth round, according to people familiar with the delibe

Byju’s expects minimal or no fine from India’s forex rule violation allegation

Byju’s said on Wednesday that recent accusations by India’s crime-fighting agency regarding a breach of the nation’s foreign exchange rule are “solely technical” in natur

Hacker claims theft of Shadowfax users’ information

A hacker claims to be selling millions of user records relating to Indian startup Shadowfax, which offers logistics services to e-commerce and hyperlocal platforms across the country. The pseudonymous

Prosus slashes valuation of India’s Byju’s below $3 billion

Investment giant Prosus has written down the valuation of edtech giant Byju’s to below $3 billion, marking a steep drop from the $22 billion valuation the Indian startup hit early last year. Byj

LockBit claims cyberattack on India’s national aerospace lab

The notorious ransomware gang LockBit has claimed responsibility for a cyberattack targeting India’s state-owned aerospace research lab. On Wednesday, LockBit added the National Aerospace Labora

Apple partner Foxconn to invest $1.5 billion in India

Foxconn plans to invest $1.54 billion in India, the latest in its growing expansion plan, following a surge in revenues in the South Asian market. Foxconn said in a stock exchange filing that the inve

India’s EMotorad rides high with $20M investment for global e-bike push

EMotorad, an Indian startup manufacturing electric bikes, raised $20 million in a Series B round as it aims to disrupt China’s market domination and expand its presence in global markets. The th

Warren Buffett’s Berkshire Hathaway exits Paytm at a 40% loss

Berkshire Hathaway exited Paytm-parent firm One97 Communications Friday at a loss of about 40% on the high-profile investment it made more than five years ago. The Warren Buffett firm invested about $

India seeks to regulate deepfakes amid ethical concerns

India is drafting rules to detect and limit the spread of deepfake content and other harmful AI media, a senior lawmaker said Thursday, following reports of proliferation of such content on social med

India’s Pocket FM closes in on $80 million funding after revenue tops $160 million

Audio entertainment startup Pocket FM has topped $160 million in annualized revenue runrate and is inching closer to raising over $80 million in a new funding round, three sources familiar with the ma

Starlink-rival OneWeb scores approval to launch satellite broadband services in India

OneWeb India, the local subsidiary of low-earth orbit operator Eutelsat OneWeb, has received the necessary approval from the country’s newly created space regulatory body to launch its commercia

India accuses edtech giant Byju’s of $1.1 billion forex violations

India’s Enforcement Directorate, its crime-fighting agency, has issued a show-cause notice to Byju’s, accusing it of violating the nation’s foreign exchange rules. The ED’s all

Indian central bank tightening consumer loans curb to impact startups

India’s central bank has enforced several measures to cool down high growth in consumer credit in a move that will impact consumer spending and many startups in the South Asian market, industr

Archer Aviation aims to launch all-electric air taxi service in India in 2026

Archer Aviation, the electric vertical takeoff and landing (eVTOL) vehicle startup, has partnered with India’s travel and hospitality conglomerate InterGlobe Enterprises to launch an all-electri

Investors double down on Snaptrude in challenging legacy building design platforms

Snaptrude — a startup aiming to compete against traditional platforms in the architecture, engineering and construction (AEC) design sector, including Autodesk, Trimble and Nemetschek — with its m

Mamaearth makes public debut, youngest Indian unicorn to list

Shares of Honasa Consumer, the parent firm of direct-to-customer beauty and personal care Mamaearth, jumped slightly in a key public listing watched by many Indian startups as they evaluate their own

In Mamaearth, Peak XV finds its fourth 10x return since Sequoia separation

In the oversubscribed IPO of Mamaearth, Peak XV Partners has found its fourth 10x or greater return within the six months since separating from the Sequoia family. The venture fund is sitting on a 10x

Byju’s misses revenue projection in much-delayed financial account

Indian edtech giant Byju’s said on Saturday that revenue of its core business, its largest, in the financial year ending March 2022, stood at $429.18 million, making it clear that the most valua
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