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    Future Group fires 400 employees to scale down e-comm venture

    Mass layoffs in India are no longer limited to only the information technology and automobile sectors, as witnessed last year. In the past couple of months, Indian companies and startups have been shedding jobs to balance their mounting financial stress. The massive layoffs are happening across segments, and this time the new-age startups are in the lead. And the list of such...

    • 2 hrs ago
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    Exclusive: Reliance Jio enters UPI-powered payments to compete with Google Pay, PhonePe and Paytm

    India's largest and only profitable telecom operator Reliance Jio has entered the UPI-powered payments space, offering the facility to its over 370 million subscribers, its latest app update shows. As of now, Jio's UPI payments facility is available for select users but will soon be available to others as well. The development validates...

    • 2 hrs ago
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    Former Flipkart CTO Garikipati launches a micro-credit startup

    Ravi Garikipati, Flipkart's former CTO & head of engineering and Raj Vattikuti, a serial and entrepreneur and the founder of Covansys have come together to launch financial services and micro-credit startup 'Davinta'. The duo has invested Rs 140 crore of their personal money in starting this venture that holds an NBFC permit and disbursed loans of Rs 50 crore,...

    • 2 hrs ago
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    Funding in Indian startups this week (13 Jan-18 Jan)

    This week 18 Indian startups raised funding, of which 10 received a total sum of about $137 million. Among them, Zinier raised the highest funding of about $90 million followed by EpiFi, which raised $13.2 million. Meanwhile, funding for 8 of the total funded startups remained undisclosed. Below is the summary of deals closed this week Ninjacart: Agritech Startup Ninjacart has secured $10...

    • 2 days ago
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    Exclusive: Sonia Dhawan joins SAIF Partners as Corporate Comm advisor

    After making a comeback in the startup ecosystem in June 2019, former vice president of corporate communications and public relations at Paytm, Sonia Dhawan has shifted to another firm. This time Dhawan will be working with venture capital firm SAIF Partners as Advisor - Corporate Communications. SAIF will be the third firm where Dhawan will be handling its communications...

    • 3 days ago
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    CAIT pilots e-stores for traders, to go live nationally by March

    Traders body Confederation of All India Traders (CAIT) is piloting individual e-stores for traders in Madhya Pradesh and Chhattisgarh. CAIT has been working on e-stores for the past three months and plans to go live nationally in the next two-three months. "E-commerce is a rapidly growing future mode of business and we have undertaken a task to align the trading community...

    • 3 days ago
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    Venture Highway raises $78.6 Mn for its second India focused seed fund

    Early-stage venture capital firm, Venture Highway, has raised $78.6 million for its second fund focused on seed investments in India as it is looking to double down on investing in early-stage startups in the country. The five-year-old venture, which had backed startups like Meesho , Sharechat , Cras24 , OkCredit , Moglix, O4S , Wishfin, and WMall in their early days,...

    • 3 days ago
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    With 370 Mn subscribers, Jio is top telecom operator in India

    The Mukesh Ambani-led profitable telecom operator Reliance Jio is now the top operator in India by both subscriber base and revenue market share, showed a November 2019 report on India's telephone and wireless subscriber base by the Telecom Regulatory Authority of India. The thirty-eight months old telecom operator topped the list of wireless subscriber base with 32.04% market...

    • 3 days ago
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    Byju's delivers handsome returns to Sequoia, Times Internet, Zuckerberg and promoters

    There's something unique about Byju's which has become the most valuable edtech company in the world. Be it the way it dominates the edtech market, raising funds from global investors, or achieving profitability , Byju's has climbed every ladder and has currently occupied a seat among the top three valuable unicorns in India. In its eight...

    • 3 days ago
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    Govt proposes fast-track courts for speedy resolution of foreign investment disputes

    To promote and attract foreign investment, the Finance Ministry is reportedly planning to set up fast-track courts for speedy settlement of disputes involving foreign investors and the government. The move is to address the issues of enforcement of contracts and dispute resolution faced by foreign investors. "The ministry has proposed appointing a...

    • 4 days ago

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