SkinQ, an Emerging Leader in Dermocosmetics, Secures ₹3 Crore Seed Investment
In a landmark move for the Indian skincare industry, SkinQ Dermo cosmetics has successfully secured a seed investment of ₹3 crore, led by Inflection Point Ventures. This strategic financial boost, further bolstered by contributions from Venture Catalysts and Super Angels, marks a significant milestone in SkinQ’s quest to revolutionize skincare, particularly for individuals with melanin-rich […]
Unwrapping Amazon’s India Nightmare: A Story of Exploited Workers and Unchecked Power
Amazon, a global leader in e-commerce and technology, has recently been at the center of a labor rights controversy in India. The Union Labour Ministry in India has been actively involved in addressing the situation, especially concerning the company’s recent layoffs and labor practices. Layoffs and Legal Scrutiny In a significant development, Amazon India has […]
India’s E-Commerce Policy Nearly Done, Announcement Expected Soon
The National E-Commerce Policy of India, a significant initiative by the Commerce and Industry Ministry, is nearing its final stages and is expected to be announced soon. This was confirmed by Union Minister Piyush Goyal, who indicated that the policy is at the final stages of discussion at the highest levels of government. The development […]
India’s Startup Scene: A Story of Challenges and Emerging Opportunities
The Indian startup ecosystem experienced a significant downturn in 2023, marking a shift from the previous years’ exuberant growth. Funding across all stages saw substantial declines, with late-stage investments taking the most considerable hit, dropping by over 73% to $4.2 billion compared to $15.6 billion in 2022. Early-stage funding followed closely, falling 70% to $2.2 […]
Startup Engine: Each Indian Startup Creates 11 Jobs on Average, Review Shows
India’s startup ecosystem has made significant strides, as evidenced by recent data highlighting the creation of an average of 11 jobs per startup. This is part of a broader narrative of economic growth and job creation catalyzed by the startup sector in the country. Investments and Job Creation Fund of Funds for Startups (FFS) Scheme: […]
ZestMoney: End of the Road – A Look into Its Impending Shutdown and Acquisition Buzz
ZestMoney, an influential player in India’s fintech sector since its inception in January 2016, is set to shut down its operations by the end of December 2023. The company, once a prominent name in the ‘buy now, pay later’ (BNPL) space, faced a series of challenges leading to this decision. One of the primary factors […]
Funding Freeze: Indian Startups Face 73% Plunge, Knocked Down to 5th Globally
In 2023, India’s tech startup ecosystem faced a significant downturn, marking the lowest level of funding in the last five years. A report by Tracxn revealed a 72% decrease in funding, totaling $7 billion, down from $25 billion in 2022. This decline has led to India dropping from 4th to 5th place in global funding […]
Tamil Nadu Boosts Five Startups with Rs 6.5 Crore Equity Injection
The Tamil Nadu government, under the leadership of Chief Minister MK Stalin, has recently sanctioned an equity investment of Rs 6.5 crore to five startups as part of the Tamil Nadu Scheduled Caste/Scheduled Tribes Startup Fund. This significant investment demonstrates the state government’s commitment to supporting entrepreneurs from the SC/ST communities and fostering innovation across […]
E-Commerce Turnaround: Meesho Swings to Profitability after 90% Loss Reduction
Meesho, a Softbank-backed e-commerce company, has reported a remarkable shift in its financial performance, marking its first-ever profitable quarter in the financial year 2024. This significant milestone was achieved in the second quarter that ended in September 2023. Despite not disclosing the exact profit figures for the July-September period, the company’s financials show a promising […]
InCred Charges Ahead: Secures $60 Million, Joining India’s Unicorn Club
In a remarkable achievement for the Indian fintech sector, InCred has officially gained unicorn status after successfully raising $60 million in a Series D funding round. This milestone makes InCred the second company to achieve unicorn status this year, following Quick commerce platform Zepto. The Mumbai-based non-banking finance company (NBFC) InCred, known for its impactful […]