TLDR:
- BYJU’s, an edtech company, plans to raise capital at a reduced valuation to attract potential investors.
- Fixerra, a fintech start-up, secures Rs 14 crores in seed funding to launch banking products for digital businesses.
- Vhub.ai, an AI-driven matchmaker platform, launches to help brands and influencers collaborate more effectively.
- Investors and experts in India’s deep tech sector expect more funding and sector-specific incentives in Budget 2024.
- KPMG’s Venture Pulse report reveals a decline in global VC deals for Q4’23, with a shift from post-COVID-19 excess money supply.
- Fintech dominates secondary transactions in recent years, followed by SaaS and e-commerce.
- Kiya.ai expands its global presence through a partnership with AFS to offer banking technologies and solutions in the Middle East and Africa.
- MakeMyTrip’s Q3 EBITDA grows by 106% YoY, and Simpl introduces early settlement options for D2C merchants.
- WeWork Labs launches Jumpstart 2024 to support early-stage start-ups.
- Green transport innovation and government initiatives are driving the budget EV domination in India.
- The RBI’s new SRO for fintech aims to foster innovation and regulation in the industry.
- CoinDCX experiences a significant decrease in trading volumes due to a tax on crypto transactions.
- Amazon faces labor rights issues in India.
- India aims to promote large-scale product manufacturing to occupy 30% of the global market.
BYJU’s, India’s leading edtech company, is planning to raise capital at a reduced valuation to make the investment opportunity more attractive to potential investors. This move comes as the company seeks additional funds to support its growth plans in the education technology space.
Fixerra, a fintech start-up, has recently secured Rs 14 crores in a seed funding round. The company specializes in embedded finance and aims to help digital businesses launch banking products. Fixerra has developed an easy-to-integrate fixed deposit gateway in partnership with seven banks and NBFCs.
Vhub.ai, an AI-driven platform, has launched a digital matchmaker for brands and influencers. The platform provides features for influencer discovery, collaboration, and detailed analytics. The goal is to simplify the influencer marketing process and provide brands with better ROI measurement.
Investors and experts in India’s deep tech sector are expecting more sector-specific incentives and funding in the upcoming Budget 2024. The deep tech sector is seen as a driver of the next wave of technological revolution in India and is in need of patient capital and government support.
KPMG’s Venture Pulse report highlights a decline in global VC deals for Q4’23 compared to previous quarters. This shift is attributed to the end of the post-COVID-19 period of excess money supply and euphoria. Despite the decline, there is sustained interest in AI investments.
Fintech has been dominating secondary transactions in recent years, followed by SaaS and e-commerce. A report centered on 117 start-ups with valuations of $500 million or higher over the past three years revealed a total count of 252 secondary deals associated with these start-ups since 2021.
Kiya.ai, a banking technology company, is expanding its global presence through a strategic partnership with Arab Financial Services (AFS). AFS will leverage Kiya.ai’s expertise and technologies to enhance its product and solutions portfolio in the Middle East and Africa region.
MakeMyTrip, an online travel company, has reported a significant growth in its Q3 EBITDA, which grew by 106% YoY to $29.4 million. This indicates a strong recovery for the travel industry amid the ongoing pandemic.
Simpl, a fintech company, has introduced early settlement options for direct-to-consumer (D2C) merchants. This new feature aims to reduce cash-on-delivery settlement time by up to 90%, providing an efficient solution for D2C businesses.
WeWork Labs, the innovation arm of WeWork, has launched Jumpstart 2024, a program designed to back early-stage start-ups. The program offers co-working space, mentorship, and support to selected start-ups, aiming to help them grow and succeed.
Green transport innovation and government initiatives are driving the budget electric vehicle (EV) domination in India. The country is making significant strides in the development and adoption of EVs, with various incentives and policies in place to promote a transition towards sustainable transportation.
The Reserve Bank of India (RBI) has taken a bold stance with the introduction of a self-regulatory organization (SRO) for fintech. This move aims to foster innovation and regulation in the fintech industry, providing a framework for collaboration between the industry and the RBI.
CoinDCX, a cryptocurrency exchange, has experienced a significant decrease in trading volumes due to a 30% tax on crypto transactions imposed by the Indian government. This tax has led to a decline in participation and trading activities in the crypto market in India.
Amazon, the e-commerce giant, is facing labor rights issues in India. The company has been the subject of criticism and protests from workers and labor unions, highlighting concerns over working conditions, wages, and workers’ rights.
India aims to promote large-scale product manufacturing to occupy at least 30% of the global market. The government is taking initiatives to boost domestic manufacturing and reduce dependence on imports, focusing on sectors such as electronics, pharmaceuticals, automobiles, and textiles.
