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Startup News
TechCrunch
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Finix raises $75M to take on Stripe as a payment processor
- Finix, a payment processor, has raised $75 million in funding to compete with Stripe.
- Finix has seen significant growth, quadrupling its revenue in the last year.
- Although Stripe dominates the market, Finix believes there is still room to grow.
- Finix differentiates itself through its focus on businesses with both online and in-store footprints.
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TechBullion
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The Startup Culture in Boston: What Makes It Special?
- Boston's startup scene stands out due to its strong academic presence, with prestigious universities like Harvard and MIT fostering entrepreneurial spirit.
- Collaboration is key in Boston, with startups valuing teamwork and sharing ideas to drive mutual success.
- The city's focus on healthcare and life sciences contributes to its reputation as a hub for medical and biotech startups.
- Investors in Boston prioritize long-term growth, offering patient support for startups to thrive.
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Inc42
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Swiggy Cuts IPO Valuation Target To $13.5 Bn
- Swiggy has reduced the valuation target for its IPO to $12.5 Bn to $13.5 Bn.
- The decision was made due to market volatility and correction in the Indian equities market.
- Swiggy aims to ensure value is left on the table for investors who participate in the public issue.
- Zomato, Swiggy's rival, currently holds a valuation of around $26.7 Bn.
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TechCrunch
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General Catalyst raises $8B in fresh funds to back startups globally
- General Catalyst has raised $8bn in funds to invest in multi-sector early-stage startups across the U.S., Europe, and India.
- Around $4.5bn is earmarked for its core VC funds and $1.5bn for its creation strategy focused on helping proven founders build new businesses.
- Another $2bn will be used for separately managed accounts, which are investment vehicles created for a single institutional investor.
- Following the funding, General Catalyst now has approximately $25bn assets under management.
- General Catalyst has backed prominent startups such as Airbnb, Instacart, Snap, Kayak, Stripe, and HubSpot.
- Jeannette zu Fürstenberg, who heads the company’s European business, said 25% of the $8bn raised would be allocated to Europe across all GC's strategies.
- GC's plans to execute its creation strategy involve partnering with large companies looking to embed AI and build a particular product.
- GC is focusing on two themes: applied AI and global resilience, and coalescing to embed AI in defense and aerospace industries.
- General Catalyst is also gearing up to make its first investment in Saudi Arabia.
- GC’s latest funds are among the largest to emerge from a U.S. VC firm since Tiger Global’s $12.7bn tranche more than two years ago.
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Eu-Startups
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Top solutions to protect your business: From cloud to password management
- Technology advancements have increased businesses' concerns over security issues.
- EasyDMARC is a B2B solution that provides domain-level email protection, alerting, and reporting tools.
- INE offers IT, cybersecurity, cloud computing and data science training to help professionals stay up-to-date with industry standards.
- Keeper Security provides comprehensive privileged access management, remote access solutions, and password management to prevent cyber attacks.
- MASV is a cloud-based platform that offers secure transfer of large media files with global AWS infrastructure, fault protection, and bandwidth optimization.
- PassPack offers scalable, secure password generation, sharing, and management to businesses, contractors, and families in a zero-knowledge environment.
- Syxsense provides endpoint visibility, automated patching, threat detection, and remediation to enhance security and ensure compliance with industry standards.
- Tenable's vulnerability management solutions streamline IT and security operations, provide real-time cyber risk insights, and prioritized remediation to reduce risk.
- Tresorit offers secure file storage, sharing, and collaboration through a zero-knowledge, end-to-end encrypted platform that integrates with popular tools like Google and Outlook.
- These tools provide practical options for businesses to protect digital assets, manage sensitive information securely, and optimize daily operations.
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Inc42
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ixigo Acquires 51% Stake in Train Food Delivery Startup Zoop
- Online travel aggregator ixigo has acquired a 51% stake in train food delivery platform Zoop Web Services Pvt Ltd.
- ixigo has the option to purchase the remaining stake in Zoop subject to certain conditions.
- Zoop generated a revenue of INR 7.65 Cr in FY24 and was profitable.
- ixigo has launched a new 'Food on Train' feature on its train apps, allowing travellers to pre-order meals for delivery to their seats.
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Startupreporter
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Lubi Industries partners with Telugu Titans for Pro Kabaddi League Season 11
- Lubi Industries LLP has partnered with the Telugu Titans for the 11th season of the Pro Kabaddi League (PKL).
- The partnership aims to enhance Lubi Industries' brand visibility and connect with the passionate fanbase of the Telugu Titans and the PKL.
- Lubi Industries' logo will be prominently displayed on the Telugu Titans' playing kits throughout the season.
- Both parties share common values of resilience and agility, making this partnership powerful.
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ISN
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Precision oncology startup 4baseCare expands global footprint, launches operations in Dubai
- Precision oncology startup 4baseCare has expanded its global footprint by launching operations in Dubai. The company has established a state-of-the-art genomics lab at Dubai Science Park, in collaboration with Innovate Life Sciences.
- The expansion aligns with 4baseCare's strategic plan to strengthen its presence in Southeast Asia and the Middle East.
- The new genomics lab will offer cutting-edge genomic testing solutions, enabling oncologists to delve deeper into the genetic makeup of tumors and provide personalized treatment options.
- 4baseCare also unveiled SoLiq, a solid-liquid NGS test portfolio that combines solid and liquid biopsy technologies to provide a comprehensive view of tumor biology.
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VIE Stories
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Union Cabinet Approves Rs.1,000 Cr VC Fund for Space Sector Startups
- Union Cabinet approves establishment of Rs.1,000 crore Venture Capital Fund for Space Sector under aegis of IN-SPACe
- The Fund aims to advance India’s space sector, foster innovation, and promote economic growth
- It will support companies in the space sector to scale, invest in R&D, and create employment
- The fund will operate as an Alternative Investment Fund, offering early-stage equity to startups in the space sector
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Yourstory
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Go Digit General Insurance Q2 profit surges 3.2x to Rs 89.47 Cr, total income up 16.4%
- Go Digit General Insurance reported a surge in Q2 FY25 profits, with a 3.2x increase to Rs 89.47 crore.
- The total income of the company rose by 16.43% to Rs 2,175.49 crore in Q2 FY25.
- Total expenses for Q2 FY25 increased to Rs 2,136.05 crore compared to the previous fiscal year.
- Premiums in the motor insurance segment increased by 10.22% to Rs 1,354.21 crore in Q2 FY25.
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Inc42
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OYO’s Profit Jumps Nearly 20% To INR 158 Cr In Q2
- OYO's parent company, Oravel Stays Ltd, reported a net profit of INR 158 Cr in Q2, a sequential increase of 19.6%.
- The total net profit for the first half of FY25 reached INR 291 Cr, a significant recovery from the net loss of INR 91 Cr in the same period last year.
- OYO's revenue in Q2 FY25 surged to INR 1,578 Cr, up 12% from Q1, driven by the launch of company-serviced hotels under various brands.
- The company's EBITDA rose to INR 266 Cr in Q2 FY25, representing a 27.4% increase from the previous quarter.
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Yourstory
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Warren Buffett’s #1 success tip: Choose your circle wisely
- Warren Buffett believes that the single most important choice you make on your path to success is who you surround yourself with and the people in your life can either inspire and uplift you or pull you down.
- The people you spend time with shape your mindset, work ethic, and even your approach to challenges and humans are social beings who are influenced by those around them.
- Strong relationships can open doors, create opportunities, and offer invaluable support and Buffett's own long-term business partnership with Charlie Munger is often credited as a key factor behind his enduring success.
- Choose friends, mentors, and business partners who challenge your perspectives and help you think differently.
- A growth-oriented environment fosters continuous learning and when you are surrounded by people who push boundaries, set higher standards, and continually strive for excellence, you’re more likely to adopt the same habits.
- Toxic personal or professional relationships can drain your energy, lower your self-esteem, and create unnecessary stress and avoiding wrong relationships is as important as choosing the right ones.
- To build the right circle look for character, growth-minded individuals, diversity in perspectives and mutually beneficial relationships with people who align with your values and long-term vision.
- Letting go of relationships that no longer serve you is crucial for growth and it’s essential to prioritize your well-being and success by surrounding yourself with those who lift you up and let go of those who drag you down.
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Yourstory
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2 uncomfortable truths every successful career faces
- Hard work alone isn't enough to achieve career success. Networking, skill adaptation, and visibility are important factors that work alongside hard work.
- Failure is inevitable and necessary on the path to success. Embracing failure as a learning opportunity and building resilience is crucial.
- Successful careers require a combination of hard work, smart decisions, and the ability to be seen by the right people.
- Accepting and facing the harsh truths about career success can empower individuals to make strategic moves and reach their goals.
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Inc42
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Cabinet Approves INR 1,000 Cr VC Fund For Space Sector
- The union cabinet has approved setting up a venture capital fund with a corpus of INR 1,000 Cr under the Indian National Space Promotion and Authorization Centre (IN-SPACe).
- The fund will be deployed over a period of five years, with an average deployment amount of INR 150-250 Cr per year.
- The investment range will be INR 10 Cr to INR 60 Cr, depending on the stage, growth trajectory, and potential impact on the national space arena.
- Growth stage companies will receive equity investments of about INR 10 Cr to INR 30 Cr, while late growth stage companies will receive investments between INR 30 Cr to INR 60 Cr.
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VIE Stories
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Arihant Academy Limited Partners with Zeal Academy
- Arihant Academy has acquired a controlling stake of 51% in Zen Educational and Learning (ZEAL Academy).
- The valuation of ZEAL Academy is set at INR 17 crore.
- The acquisition will enable Arihant Academy to offer a wider range of academic programs and reach a larger student population in Mumbai.
- Arihant Academy aims to create a stronger educational framework by merging ZEAL Academy's local expertise with its proven teaching methods.
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