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Startup News
Economic Times
2h
178
Image Credit: Economic Times
Recognised startups eligible for various tax exemptions, deductions: I-T department
- DPIIT recognised startups are eligible for various tax exemptions and deductions.
- Investments in recognized startups are eligible for benefits and are not subject to scrutiny.
- The government has relaxed the definition of startups, allowing them to avail full angel tax concession on investments up to Rs 25 crore.
- To provide these tax concessions, the income tax department has relaxed the definition of startups.
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Inc42
2h
39
Image Credit: Inc42
Eternal To Cap Foreign Ownership At Under 50%
- Zomato and Blinkit parent Eternal will cap foreign ownership in the company at 49.5%.
- The decision was approved by the company's board and awaits shareholder approval.
- Foreign shareholding in Eternal currently stands at 44.36%.
- Domestic shareholders have increased their stake in the company to 23.56%.
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Inc42
2h
268
Image Credit: Inc42
Centre Rejects Rumours Of GST Levy On UPI Transactions
- The finance ministry has rejected the rumours of levy of goods and services tax (GST) on UPI transactions above INR 2,000.
- Currently, GST is only applicable on charges like Merchant Discount Rate (MDR) for certain payment instruments.
- The Centre removed MDR on person-to-merchant (P2M) UPI transactions in January 2020, effectively making them GST-free.
- Indian fintech and banking sectors are pushing for the reintroduction of the MDR on high-value UPI transactions.
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TechCrunch
2h
212
Image Credit: TechCrunch
Is the SPAC back?
- Kodiak Robotics, a self-driving truck startup, plans to go public through a merger with Ares Acquisition Corporation II, a special purpose acquisition company.
- The move comes at a time when SPACs have lost their shine and the autonomous vehicle space has seen shutdowns of companies like Embark and TuSimple.
- There is uncertainty in the IPO market and some major players have already paused their IPO plans.
- The episode of TechCrunch's Equity podcast discusses the potential return of SPACs and other news related to AI voices, Figma's IPO plans, Hugging Face's acquisition, and updates from OpenAI.
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12 Likes
TechCrunch
3h
219
Image Credit: TechCrunch
From Bogotá to the Battlefield: LatAm startups are winning big in TechCrunch Startup Battlefield
- For startups around the world, the TechCrunch Startup Battlefield program offers unmatched exposure, credibility, and connections to scale their businesses.
- LatAm startups have thrived in this environment, attracting global investors, expanding into new markets, and growing their teams.
- Notable LatAm startups that used Startup Battlefield as a springboard include Salva Health, Ripio, Jefa, and Olho do Dono.
- Startup Battlefield provides global exposure, investor visibility, credibility, and access to a powerful network for participating startups.
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SiliconCanals
3h
136
Image Credit: SiliconCanals
AI Tool of the Week: How HowNow’s Guru turns workplace learning into a personalised AI coaching experience
- HowNow is an AI-powered learning and skills platform that provides personalised learning experiences.
- HowNow Guru is an AI learning agent that acts as an always-on coach, adapting to the learner's skill level.
- Employees can practice real-world scenarios, complete quizzes, and track their progress with Guru.
- Guru collaborates with third-party sources, including getAbstract, to provide actionable guidance from trusted thought leaders.
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8 Likes
Economic Times
3h
103
Image Credit: Economic Times
Who are the Jaggi brothers—and how did Gensol, BluSmart get here?
- Promoters of BluSmart, Anmol and Puneet Singh Jaggi, have diverted funds from their solar energy company Gensol Engineering, leading to allegations of financial misconduct.
- Anmol Singh Jaggi is the son of an army officer and the co-founder of Gensol Engineering. He also co-founded BluSmart Mobility, India's first all-electric ride-hailing platform.
- Puneet Singh Jaggi is a co-founder of Gensol Engineering and the founder of Prescinto Technologies. He is involved in Param Renewable Energy and serves as a board director of BluSmart.
- The Jaggi brothers face serious allegations of financial misconduct including stock price manipulation, which has raised concerns in India's startup and clean-tech ecosystems.
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6 Likes
Inc42
3h
301
Image Credit: Inc42
Gensol’s Lenders Mull Legal Route To Recover Loans: Report
- Lenders Power Finance Corp (PFC) and Indian Renewable Energy Development Agency (IREDA) are considering legal action to recover loans from Gensol.
- Promoters of Gensol, Anmol Singh Jaggi and Puneet Jaggi, also co-founded EV ride-hailing startup BluSmart.
- PFC and IREDA will wait for the results of a forensic audit ordered by SEBI, which found that Gensol diverted funds and manipulated share prices.
- Gensol used term loans of INR 977.75 Cr from PFC and IREDA to purchase EVs for BluSmart, but only bought 4,704 out of the intended 6,400 vehicles.
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Hitconsultant
3h
30
Image Credit: Hitconsultant
hellocare.ai Raises $47M for AI-Assisted Virtual Care Delivery
- hellocare.ai has raised $47 million in an oversubscribed funding growth round.
- The funding round was led by HealthQuest Capital and involved participation from health systems and digital health investors such as Bon Secours Mercy Health, UCHealth, OSF Ventures, and LRVHealth.
- hellocare.ai is a leading AI-assisted virtual care delivery platform that supports over 70 health systems in the US and is expanding internationally.
- The platform offers a unified suite of tools, including AI-assisted virtual nursing, patient engagement, ambient documentation, remote patient monitoring (RPM), and more, seamlessly integrated within existing EHRs and hospital infrastructure.
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ISN
43m
99
Image Credit: ISN
UPI payments giant PhonePe converts into a public limited company ahead of IPO
- PhonePe, the Walmart-backed digital payments firm, has converted into a public limited company as it prepares for an IPO in India.
- The change from PhonePe Private Limited to PhonePe Limited was approved in an extraordinary general meeting on April 16.
- PhonePe has engaged Kotak Mahindra Capital, JP Morgan, Citi, and Morgan Stanley for its IPO, targeting a valuation of around $15 billion.
- PhonePe commands nearly half of India's UPI market and reported a 73% YoY growth in revenue in FY24.
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TechCrunch
1h
52
Image Credit: TechCrunch
Startups Weekly: Mixed messages from venture capital
- Figma files for IPO, while Klarna and StubHub pause IPO plans.
- UK founders frustrated at the funding gap with Silicon Valley peers.
- Smashing AI-powered reading app shuts down due to disappointing growth.
- Indian Uber rival BluSmart suspends service amidst an investigation.
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3 Likes
Startup Pedia
1h
59
Image Credit: Startup Pedia
“Can You Send One Full Pic?” Delhi Woman Shares How a Job Prospect Shockingly Turned Into an Inappropriate Exchange
- A recruiter from Noida faced backlash for sending inappropriate messages to a female job seeker over WhatsApp.
- The woman, seeking an executive assistant role, received a job offer that turned into an uncomfortable conversation.
- Initially, there were no red flags, but the recruiter's messages on LinkedIn raised concerns.
- The conversation shifted to WhatsApp, where the recruiter asked personal questions and requested a 'full pic.'
- The recruiter implied the role involved more than professional tasks, leading to discomfort for the job seeker.
- The woman was surprised when the recruiter mentioned a sexual relationship with the boss.
- It was revealed that the recruiter was actually the company's CEO posing as a recruiter, working alone.
- The incident sheds light on the lack of safety mechanisms on platforms like LinkedIn and the need for better vetting processes.
- This serves as a reminder of the importance of professionalism, respect, and boundaries in hiring interactions.
- The woman's experience resonated with others who shared similar stories, highlighting a larger problem in the industry.
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3 Likes
Startup Pedia
1h
147
Image Credit: Startup Pedia
Deepika Padukone, MS Dhoni, Sanjeev Bajaj & Other Popular Faces Found To Have Backed Anmol Jaggi's BluSmart
- Deepika Padukone, MS Dhoni, Sanjeev Bajaj, and Ashneer Grover were investors in BluSmart.
- Anmol Singh Jaggi holds almost 25% stake in BluSmart, while Puneet Singh Jaggi has 5% share in the company.
- In 2019, BluSmart raised $3 million in an angel round from investors like Deepika Padukone, Sanjeev Bajaj, and others.
- In July 2024, BluSmart raised Rs 200 crore in a pre-Series B funding round from new investors including MS Dhoni's family office.
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8 Likes
Startup Pedia
1h
285
Image Credit: Startup Pedia
Ashwini Vaishnaw Unveils India’s First Fully Designed AI Server 'Adipoli'
- Union Minister Ashwini Vaishnaw unveiled India's first fully designed AI server 'Adipoli', developed by VVDN Technologies.
- The AI server equipped with 8 GPUs was designed in India, showcasing the country's strong capabilities in electronics design.
- India's electronics manufacturing has grown significantly in the past decade, reaching Rs 11 lakh crore, with exports increasing six times to over Rs 3.5 lakh crore.
- With the development of Adipoli and other electronic products, India is becoming a global leader in the field of design, giving the country a competitive edge.
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17 Likes
Hackernoon
3h
133
Image Credit: Hackernoon
Meet Neo Auth, Peris.ai, and Midas Analytics: HackerNoon Startups of the Week
- The HackerNoon team highlights three startups from their Startups of the Year database - Neo Auth, Peris.ai, and Midas Analytics.
- Neo Auth, based in Toronto, offers an identity and access management solution using Attribute-Based Access Control (ABAC) for secure verification.
- Peris.ai, located in Singapore, specializes in cybersecurity solutions including AI-based platform and human expert consultations.
- Midas Analytics, a Hong Kong-based platform, utilizes AI for market intelligence, combining structured and unstructured data for actionable insights.
- The startups are nominated in various tech categories and regions, recognizing them as promising ventures in the industry.
- HackerNoon's Startups of The Year event showcases tech startups from global cities, industries, and continents, with prizes and interviews for the winners.
- Startup packages have ended, and HackerNoon announces exciting prizes for finalists and winners soon.
- To participate in HackerNoon's Business Blogging Program, startups can share their stories to boost brand awareness and SEO authority.
- HackerNoon presents various sponsorship opportunities for startups with partners like Wellfound, Notion, Hubspot, Bright Data, and Algolia.
- Businesses can leverage these partnerships for brand awareness, lead generation, and marketing solutions tailored for startups.
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