Prosus Downgrades Byju’s Valuation to Below $3 Billion Amid Challenges
The significant valuation markdown of Byju’s by Prosus NV, a leading tech investor, marks a notable shift in the edtech sector. Prosus has reduced the valuation of the Indian education firm to under $3 billion, a dramatic decrease from its peak valuation of $22 billion in the previous year
E-commerce and Travel Industries Rejoice: A Closer Look at India’s GST Amendments
The Indian government has introduced several significant changes to the Goods and Services Tax (GST) regime, particularly focusing on simplifying processes for the e-commerce and travel industries
BRICS CCI Launches Initiative to Empower Women Professionals and Entrepreneurs
The inaugural program of the Global Women Leadership Programme will include about 25 women professionals and entrepreneurs from BRICS and other friendly countries
PayGlocal Moves Closer to Full Authorization with RBI’s Nod for PA License
The company was founded in 2021 by payment industry veterans Prachi Dharani, Rohit Sukhija, and Yogesh Lokhande, and has since developed a technology platform that offers payment processing and transaction risk management solutions. These solutions help in securely accepting online payments through various instruments, including cards and global alternative payment methods.
Cloud Power: AWS and Crayon’s New Incubation Hub for Startups in Bengaluru
AWS and Crayon are committed to accelerating the development of these ISVs, aiding them to become members of the AWS Partner Network (APN), a global community that includes more than 100,000 partners across 150 countries.
Himachal’s Green Leap: ₹680 Crore Startup Scheme Unveiled
The Himachal Pradesh government has launched an ambitious ₹680 crore startup scheme as part of its green initiatives to generate employment, particularly for the youth.
Indian Overseas Bank Unveils Rs 500 Crore Startup Lending Portfolio
They are targeting a startup portfolio of Rs 500 crore in the first year of operations in FY25. Following the launch in Chennai, IOB plans to expand these specialized startup branches to other major Indian cities like Bengaluru, Hyderabad, and Mumbai.
Alipay’s Strategic Exit: Selling $395M Stake in Zomato
Alipay, a unit of the Chinese conglomerate Ant Group, is set to offload its entire 3.4 percent stake in Zomato. This translates to a massive sale of approximately 296 million shares. The shares, according to market sources, are priced at ₹111.28 each, aiming to raise a substantial sum of ₹3290 crore, equivalent to about $395 million.
Garuda Aerospace’s Medium Category Drones Receive DGCA Approval, Expanding Their Potential for Disaster Management
In a significant development for India’s drone technology sector, Garuda Aerospace, a leading drone manufacturer, has obtained its second type certificate for medium category drones from the Directorate General of Civil Aviation (DGCA).
Driving Innovation: Murugappa Group’s $791 Million Semiconductor Plan
The Chennai-based Murugappa Group has recently made a significant announcement that it will be investing $791 million over the next five years to enter the semiconductor assembly and testing space.