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- Stripe To Enter India, TRAI’s Scrutiny of 5G Quality, Ashneer Grover Takes Offense
Stripe To Enter India, TRAI’s Scrutiny of 5G Quality, Ashneer Grover Takes Offense
Stripe collabs with SBI to enter India, TRAI drills benchmarks of 5G service quality, Ashneer Grover back at his favorite past-time of taking offense + Funding for AppsForBharat, Sitara, Humors Tech and 8chili
From cutting-edge accelerators like SanchiConnect and YourNest's deep tech initiative to the game-changing entry of US payments giant Stripe into India, and TRAI's scrutiny of 5G service quality, there's no shortage of innovation.
Nykaa's generous ESOPs, IVY Growth's hefty fund for emerging tech, and ThinKuvate's maiden fund for Indian startups add to the excitement. Hero MotoCorp's electric ambitions and the CCI's warnings about data dominance further spice up the narrative, while the saga of Ashneer Grover's comedic turn takes an unexpected twist.
Grab your simmering cup of StartupChai and unwind with our hand-brewed memes.
What Matters
“Ho Jaayegi Balle Balle”: SanchiConnect, YourNest Launch Deeptech Accelerator with INR 30 Cr
SanchiConnect and YourNest have teamed up to launch a deeptech accelerator with INR 30 Cr, targeting startups with groundbreaking hardware or software innovations. Selected startups can snag between $500K and $1 Mn in funding, giving a massive boost to their cutting-edge projects.
This launch aligns perfectly with the government's new deeptech policy and SIDBI's partnership with IIM Ahmedabad on a deeptech-focused accelerator fund.
Read more here
“Lunch Time Ke Baad Aana”: US Payments Giant Stripe To Enter India With SBI Payments Investment
US payments giant Stripe is making waves by planning to enter the Indian market with a strategic investment in SBI Payments.
Stripe aims to snap up a 30%-40% stake via its Indian subsidiary, Stripe India Private Limited, which just got its RBI license to operate as an online payment aggregator in January 2024.
Read more here
“Bach Ke Rehna Baba”: TRAI is currently examining certain benchmarks against which it will measure issues facing 5G users like “call drops, lag in calls, unclear voice”
TRAI is gearing up to roll out stricter norms to tackle call drops and video interruptions, ensuring smoother experiences on your superfast networks. They'll be introducing jitters monitoring to keep an eye on data flow and maintain high-quality video streaming.
Plus, service providers failing to meet these new standards could face hefty penalties of up to INR 3 Lakh per benchmark, with inaccurate reporting fines reaching up to INR 10 Lakh.
Read more here
“Khushali Ka Mahaul Hai”: Nykaa Grants 4.05 Lakh ESOPs Ahead of Q4 Results
Just ahead of their Q4 financial results, the beauty and fashion e-commerce giant has granted a whopping 4.05 Lakh stock options under their ESOP scheme.
With these stocks valued around INR 7.15 Cr based on the recent price of INR 176.75, it's a fabulous reward for their hardworking team.
Read more here
“Rock N Roll”: IVY Growth Associates Rolls Out INR 250 Cr Fund To Back GenAI, Other Emerging Tech
IVY Growth Associates have launched an INR 250 Cr fund aimed at fueling the next wave of innovation in GenAI, agritech, cleantech, fintech, consumer brands, and SaaS startups.
Targeting companies beyond the seed stage with investments averaging $500,000 (around INR 4 Cr), they're set to make waves over the next 15-18 months. With Arigato Capital starting to raise funds in June and aiming for an initial close at INR 100 Cr, the tech startup scene is in for an exciting boost.
Read more here
“Yahan Ke Hum Sikandar”: Singapore’s ThinKuvate Targets Indian Startups With Maiden INR 100 Cr Fund
Singapore's ThinKuvate is aiming to shake up the scene with their maiden INR 100 Cr fund, targeting early-stage tech ventures from seed to pre-Series A. ThinKuvate brings a wealth of experience and a pool of $1.5 Mn for angel investing.
With an average investment size of up to INR 3 Cr and plans to back 12-15 startups annually, they're poised to be a game-changer in India's startup ecosystem.
Read more here
“Muqaabla Muqaabla”: Hero MotoCorp To Take On Ola Electric, Eyes Mid & Mass Two-Wheeler EV Space
Hero MotoCorp is gearing up to challenge Ola Electric's dominance by entering the mid and mass two-wheeler EV space with their brand VIDA.
With plans to roll out new electric offerings in the first half of this year, Hero is all set to expand its footprint and capture the hearts of a wider audience.
Read more here
“Aapne Ghabrana Nahi Hai”: The CCI chairperson flagged the competitive advantages gained by tech majors by collecting, analysing and leveraging vast amounts of data from their customers
Looks like the CCI chief is throwing some shade at the digital giants! She's sounding the alarm on their opaque algorithms and data dominance tactics, warning about the unfair advantages they gain from hoarding and exploiting massive amounts of user data.
With concerns rising about potential barriers to entry for new players and the risk of monopolistic control, it's clear that the tech industry is facing some serious scrutiny.
Read more here
“Ye Toh Asli Doglapan Hai”: Ashneer Grover Who Roasted Entrepreneurs Now Forces Comedian To Drop His Roast Video
Ashneer Grover, the sharp-tongued judge from Shark Tank India, is finding himself in the hot seat after supposedly participating in a comedy roast only to backtrack and demand his segment be axed.
Talk about getting roasted yourself. Fans are having a field day trolling him online for dishing it out but not being able to take it.
Read more here
In an exclusive development, AppsForBharat, the parent company of SriMandir, is in advanced talks with three new investors to secure a funding round ranging between $15-20 million.
Read more here
Delhivery shares took a sharp plunge of 10% following the announcement of a INR 69 Cr loss in Q4, hitting an intra-day low of INR 383.90 per share, after opening at INR 435.65 apiece.
Read more here
RateGain's fiscal year FY24 saw a remarkable surge in profits, more than doubling to INR 146.39 Cr from the previous fiscal year. Additionally, the company's operating revenue soared to INR 255.81 Cr in Q4, marking a 36% year-on-year increase from the same period in FY23.
Read more here
Arpwood Partners Fund I LLP has made a significant move by investing $81 million in Sitara, an affordable housing finance company, acquiring a majority stake.
Read more here
Venture Catalysts has spearheaded a pre-seed funding round for healthtech startup Humors Tech, securing Rs 2 crore. The investment will fuel the commercial launch and global expansion of Respyr, Humors Tech's flagship product, along with supporting clinical validation studies.
Read more here
8chili, a Bangalore-based deep-tech company, secures undisclosed funding from strategic investor and mentor Karan D Shinde, marking a significant milestone in its growth journey.
Read more here
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