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Startup News
Inc42
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Razorpay Partners Peak XV, Lightspeed To Invest In Early Stage Startups
- Payments giant Razorpay has partnered VC firms Peak XV Partners and Lightspeed to launch a venture investment programme targeting early stage B2B startups.
- Under the 'Razorpay Venture Investment Program', Razorpay aims to invest up to $1 Mn in 10-15 pre-seed to Series A startups every year.
- Selected startups will receive funding, access to Razorpay's API stack, mentorship from Razorpay's leadership team, and integration support.
- Razorpay has previously backed startups like Shiprocket, HostBooks, Inai, and GetVantage.
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Inc42
1d
1k
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AI SaaS Startup Ennoventure Bags $8.9 Mn From Tanglin Venture Partners
- AI SaaS startup Ennoventure has raised $8.9 Mn in a Series A funding round led by Tanglin Venture Partners.
- Ennoventure plans to use the funds to scale its operations globally and strengthen its footprint in the US, UAE, and Indian markets.
- The startup leverages artificial intelligence to add invisible cryptographic signatures to curb counterfeiting.
- Ennoventure's clients include Nestle, Reckitt, and Denso.
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Insider
1d
609
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OpenAI reportedly facing issues with its new AI model is a red flag for the entire industry
- OpenAI’s newest AI model, Orion, reportedly shows only moderate improvement over GPT-4, sparking concerns about the future of generative AI.
- The industry’s reliance on scaling laws—using more data and computing power for better results—seems to be hitting a wall. Challenges like limited training data, dependence on synthetic content, and high computing costs are compounding the problem.
- Investors are questioning the potential for diminishing returns, while companies may face difficulty justifying rising costs for products that might no longer show significant advancements. As AI development slows, it signals a critical juncture for an industry built on the promise of rapid innovation.
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Inc42
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173
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US Judge Orders BYJU’S To Return Wrongly Transferred Apps To Bankruptcy Trustee
- A federal judge has ruled that two educational apps, part of BYJU’S software empire, were wrongly transferred away from US lenders and must be returned to a court-supervised bankruptcy trustee.
- A trustee for the affiliates filed a lawsuit alleging that the money that should be used to repay creditors was instead siphoned off to Whitehat Education Technology.
- The apps generated around $1 million monthly revenue and $700,000 was moved from these entities into BYJU’S account.
- This is a small part of the bigger battle between BYJU’S and US lenders, as the former owed $1.2 billion to the latter.
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Gritdaily
1d
11
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Former Pro Athletes Transform Personal Health Struggles Into Thriving Wellness Brand
- Former professional athletes Sebastien and Caroline Graeff have created Naiad, a wellness company that is revolutionizing the supplement industry.
- The Graeffs' personal health struggles after their athletic careers inspired them to develop innovative and effective products targeting joint discomfort, stress management, muscle recovery, and weight management.
- Naiad stands out by providing comprehensive support through health guides, educational content, and lifestyle recommendations, recognizing that optimal health requires more than just supplements.
- The Graeffs prioritize sustainability by implementing eco-friendly packaging solutions and maintaining carbon-neutral shipping practices, making Naiad a leader in sustainable supplement practices.
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Medium
1d
300
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Let Them Fail or The Art of Delegating
- The author realized that their approach of micromanaging engineers and not allowing them to make mistakes was detrimental to employee morale and growth.
- They decided to change their approach by allowing engineers to submit pull requests and reviewing them before pushing to production.
- If a bug occurs, it is either forwarded to the engineer to fix or fixed by the author if time-sensitive.
- The author now trusts their engineers to do their job and feels relieved to not be the only expert on the codebase.
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Startup Pedia
1d
1.5k
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Zomato CEO Deepinder Goyal Sponsors Indian Boxer Neeraj Goyat
- Zomato CEO Deepinder Goyal has announced that Zomato will sponsor Indian boxer Neeraj Goyat for his participation in the Tyson vs Paul boxing event.
- Neeraj Goyat is set to compete in the biggest boxing event of the year, which will be streamed on Netflix.
- Goyat is the first Indian boxer to be ranked in the WBC World Rankings for three consecutive years.
- The match between Mike Tyson and Jake Paul is scheduled for Friday, November 15.
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StartupDaily
1d
343
Industry and science minister Ed Husic wants you to know something is going to happen, soon
- Industry and science minister Ed Husic attended the Tech Council of Australia's summit to announce upcoming investments from the National Reconstruction Fund (NRF).
- After a year since its launch, the NRF is ready to make concrete investments and has requested a $300 million drawdown from the government.
- The first investments from the NRF are expected to be in deep tech, and it co-invests with private equity and super funds.
- The NRF aims to boost Australia's tech and manufacturing capabilities and has seven priority investment areas, including renewables, medical science, and transport.
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Gritdaily
1d
100
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How Scaling Lean Is Empowering Entrepreneurs with Predictable Growth
- Scaling Lean, co-founded by Nina Brennan and Jonathan Ploransky, aims to empower entrepreneurs with predictable growth.
- Entrepreneurs often struggle with unpredictable growth due to issues like insufficient marketing and cash flow instability.
- Scaling Lean offers a simple and effective framework called the VDC Model (Validate, Drive, Convert) to achieve consistent growth.
- The VDC Model focuses on validating the brand message, driving qualified leads, and converting them into paying customers using automated workflows.
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Inc42
1d
34
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Swiggy Shares Make Debut On Bourses; List At 8% Premium
- Shares of Swiggy made their stock market debut today (November 13), listing at INR 420 on the NSE, a premium of nearly 8% from its IPO issue price of INR 390 per share.
- The IPO of Swiggy was oversubscribed 3.59X, receiving bids for 57.53 Cr shares as against 16.01 Cr shares on offer.
- Swiggy's early backers, Tencent, Alpha Wave, Goldman Sachs Asia, and others divested their stakes in the IPO, earning substantial returns.
- Swiggy's founders and employees are set to make significant gains from the IPO, with some employees becoming 'crorepatis'.
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Yourstory
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193
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Dalal Street welcomes Swiggy; stock lists at 8% premium on NSE
- Foodtech major Swiggy listed its shares on the National Stock Exchange (NSE) at a premium of 8% to the IPO price.
- The stock debuted at a premium of 5.6% on the Bombay Stock Exchange (BSE).
- Swiggy's IPO received 3.59 times subscription, driven by bids from qualified institutional investors.
- Swiggy plans to raise funds to invest in Scootsy, repay debt, expand dark store network, and invest in technology and brand-building efforts.
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Yourstory
1d
119
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Productivity hacks are overrated: Insights from Martin Casado
- Productivity hacks are often labelled as the golden ticket to success, but Martin Casado challenges their impactfulness.
- Casado emphasizes prioritizing well-being over quick-fix hacks or rigid time blocks for entrepreneurs.
- He advocates for deep, undistracted focus on mental health and a long-term approach to success.
- The philosophy is to do fewer things with higher impact, aligning energy with long-term goals.
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VIE Stories
1d
362
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BlackBuck Secures INR 501 Crore from Anchor Investors
- BlackBuck received INR 501.33 Cr from anchor investors before its IPO.
- Nomura, Invesco, and SBI were among the anchor investors.
- BlackBuck aims to raise INR 1,114.72 Cr in its IPO.
- The logistics unicorn reduced its valuation by almost 35% before the IPO.
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TechCrunch
1d
2.2k
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Swiggy debut fuels India’s food, quick commerce wars
- Swiggy concluded India's second-largest IPO, putting it in direct comparison with Zomato.
- Swiggy enters public markets with a valuation of $11.3 billion, trailing behind Zomato.
- Swiggy's quick commerce segment lags behind Zomato's Blinkit in terms of users and profitability.
- India's quick commerce market has substantial growth potential, but faces increasing competition.
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Economic Times
1d
542
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Neobanking startup Jupiter posts 5X jump in FY24 operational revenue, trims loss
- Neobanking startup Jupiter has reported a 5x jump in operational revenue to Rs 35.8 crore in FY24.
- The company reduced its net loss by 15.5% to Rs 276 crore in the same period.
- Jupiter generated Rs 16 crore in revenue from lending operations and achieved a net profit of Rs 1.3 crore.
- The startup offers a digital banking suite and has raised $167 million at a post-money valuation of around $645 million.
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