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TechCrunch
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HubSpot acquires Cacheflow, a platform that helps close software sales
- HubSpot has acquired Cacheflow, a startup that builds tools for software sales closing.
- Cacheflow will become a wholly-owned subsidiary of HubSpot and expand its Commerce Hub suite.
- Cacheflow provides billing and subscription management solutions for B2B software selling.
- HubSpot's acquisition of Cacheflow signals its continued focus on Commerce Hub and expansion.
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Inc42
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Ex-DealShare Cofounder Floats New Sportstech Startup, Bags $1.1 Mn To Scale Up Sports Academies
- Sourjyendu Medda, former cofounder of DealShare, has launched a new sports tech startup called Sports For Life (SFL).
- SFL aims to assist sports academies in India and redefine the nation's sporting culture.
- SFL has raised $1.1 million in seed funding from investors such as Blume Ventures, Roots Ventures, and QED Innovations Lab.
- Medda stepped down from his position at DealShare in January, amid reports of significant losses for the company.
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Inc42
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Bharti, Jio Granted Provisional Allocation Of Satcom Spectrum For Test Runs
- The Department of Telecommunications (DoT) has granted provisional allocation of satellite spectrum for test runs.
- Companies like Bharti-backed Eutelsat OneWeb and Reliance Jio's Orbit Connect India can now test their satellite services.
- The testing phase requires compliance with security and technical standards, and data collected must be securely stored in India.
- Charging for services during the testing phase is not permitted, but companies can test their offerings with an unlimited number of customers.
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Inc42
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Ride-Hailing Major Ola Consumer Puts IPO Plans In Speed Lane
- Ride-hailing major Ola Consumer is reportedly fast-tracking its plans for an initial public offering (IPO).
- The company has sought investor approval to become a public entity and is finalizing the selection of bankers to handle the IPO.
- Founder and CEO Bhavish Aggarwal will continue to lead Ola Consumer's operations.
- In the first quarter of FY25, Ola Consumer recorded a gross order value of INR 3,000 Cr, with the core mobility vertical contributing 77% to the revenue.
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Inc42
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Zomato’s Independent Director Gunjan Soni Steps Down Due To Increased Work Commitments
- Zomato’s independent director Gunjan Soni has stepped down from the company’s board due to increased work commitments.
- Gunjan Soni, CEO of Zalora, will also cease to be a member of Zomato's risk management committee and corporate social responsibility committee.
- Soni stated that her resignation was a tough decision, but she believes in Zomato's management team and its future direction.
- Zomato CEO Deepinder Goyal thanked Soni for her valuable insights and guidance that contributed to the company's growth.
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Medium
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OpenAI is a Multi-Trillion Dollar Opportunity
- OpenAI recently raised $6.5 billion in a venture round, sparking discussions about its $150 billion valuation.
- Analysts have attempted to gauge OpenAI's potential by comparing it to Google, with estimates suggesting it could surpass Google's revenue numbers.
- OpenAI's projected revenue growth indicates it could reach $44 billion by 2027, outpacing Google's growth rate.
- The article also explores the impact of AI and the Precautionary Principle, as well as other topics including real-time news and the role of big tech in politics.
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Inc42
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Amid Wave Of Top Level Exits At Orios, CFO & COO Gaurav Bindal Calls It Quits
- Gaurav Bindal, Chief Financial Officer (CFO) and Chief Operations Officer (COO) of Orios Venture Partners, has reportedly resigned from the firm.
- Bindal oversaw fund operations, transaction closure, and other areas such as finance, legal, compliance, and HR at Orios.
- This is the third major exit at Orios in a year, following the departure of managing partners Anup Jain and Rajeev Suri last September.
- Orios Venture Partners is an early-stage VC firm with portfolio companies including PharmEasy, MobiKwik, CarDekho, and Vedantu.
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Siliconangle
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Healthcare AI startup Abridge reportedly raising $250M at $2.5B valuation
- Healthcare AI startup Abridge is reportedly raising $250 million in funding.
- The investment is led by Elad Gil and IVP, with participation from Alphabet CapitalG.
- Abridge offers an AI platform that automates medical note creation for physicians.
- The funding will help Abridge develop new AI models and address competition in the market.
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Siliconangle
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Fintech startup Monzo valued at $5.9B in secondary sale
- Digital banking provider Monzo Bank Ltd. completed a secondary sale at a $5.9 billion valuation.
- Singapore’s CIG sovereign wealth fund and StepStone Group bought shares in the deal.
- Monzo has over 10 million consumers and 400,000 businesses on its platform.
- The valuation represents a $700 million increase from the previous funding round.
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VIE Stories
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JioMart Digital Enters in Quick Commerce to Outpace Blinkit, Zepto, and Instamart
- Reliance Retail launches JioMart Digital for rapid commerce in Bengaluru and Navi Mumbai.
- JioMart Digital aims to outpace Blinkit, Zepto, and Instamart in quick commerce.
- JioMart Digital offers no delivery fee and aims to deliver products in 10 to 15 minutes.
- They plan to expand their services to deliver clothes and electronics with minimal orders.
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Yourstory
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Money won’t solve for scaling, innovation does: tech executives on growth hacking
- Founders and tech executives in India's startup ecosystem are exploring innovative ways to scale and grow their businesses.
- Strategies such as hacking growth through existing distribution partnerships and making quick, innovative decisions are being employed.
- Srikanth Iyer, CEO of HomeLane, shared how his company partnered with Intel and textbook publishers to reach a larger audience.
- Rohini Srivathsa, CTO of Microsoft India and South Asia, emphasized the importance of leveraging technology, particularly AI, to scale businesses without excessive spending.
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Startupreporter
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Akash Joshi Illuminates Pathways for MSMEs and Startups at the Regional Industry Conclave 2024 in MP
- The 4th Regional Industry Conclave took place in Sagar, Madhya Pradesh, aimed at addressing industrial disparities and exploring opportunities in sectors like mining, tourism, MSMEs, and renewable energy.
- Akash Joshi, Co-Founder of IMAST Operations, highlighted the benefits of establishing corporate offices in Indore, including superior infrastructure, affordable living standards, skilled manpower, and supportive government policies.
- Joshi emphasized the business-friendly environment in Madhya Pradesh, particularly for MSMEs and startups, due to flexible policies and simplified regulations.
- During his session, Joshi advised entrepreneurs to focus on refining one core idea, conducting market research, and running pilot tests before scaling up to build a solid foundation for success.
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Inc42
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How Battery Swapping & Charging Stations Could Shape India’s EV Future
- India's electric vehicle (EV) market is at a pivotal juncture, with EVs currently making up about 5% of total vehicle sales between October 2022 and September 2023.
- Projections indicate that EV penetration could exceed 40% by 2030, driven by strong adoption in the two-wheeler (2W) and three-wheeler (3W) categories.
- Battery swapping and conventional charging infrastructure are being evaluated for their potential to accelerate EV adoption in India.
- Battery swapping can significantly reduce vehicle downtime compared to traditional charging and can be more manageable to establish compared to having a widespread network of high-speed charging stations.
- For battery swapping to be effective, a standardized battery design is necessary. Initial set up and inventory management costs can be a challenge though.
- Charging infrastructure, the most widely adopted method for supporting EVs, offers a scalable and universally compatible approach and can be integrated into existing infrastructure. A robust charging infrastructure can cater to various types of EVs.
- The perception of limited charging points, particularly in rural and underserved areas, and the high cost of fast chargers are challenges for charging infrastructure.
- A hybrid strategy that leverages the strengths of both methods may be the most effective way forward to accelerate EV adoption in India to reach its sustainability goals.
- Strategic investments, policy support, and technological advancements are key to ensure that both approaches complement each other.
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Yourstory
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From students to job-ready candidates; Education in the age of AI
- Dutch investor, Prosus, is in negotiations to purchase a 5% stake in cab-hailing platform, Rapido; the shift to a less risky option follows significant losses to two of its largest investments.
- Continuing in the business sphere, there were notable changes at non-profit organisation, Tata Trusts, with Noel Tata taking over as Chairman of the organisation.
- Start-up, Corizo, founded in 2023, specializes in upskilling college students and young professionals in computer science, digital marketing, data science, and more.
- AI is helping businesses build an active learning community, according to Raghav Gupta, Founder and CEO of Futurense.
- Mental health startup, The Unopened, provides sessions helping caregivers become more aware of the burden of care.
- BlackRock's assets under management hit a record high for the third successive quarter.
- The device used to facilitate dream-sharing in the movie Inception is the Portable Automated Somnacin IntraVenous Device (PASIV).
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Yourstory
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Investment requires proper understanding and assessment of risks, concur experts at TechSparks
- Co-founders of Share.Market by PhonePe, PeepalCo and LXME at TechSparks 2024 in Bengaluru held that investment requires proper understanding, knowledge, and assessment of risks
- As per Association of Mutual Funds in India, Indian mutual funds currently have about 9.61 crore SIP accounts and more than almost 20 crore unique folios
- Broking sees 17 crore demat accounts and 10 crore unique PANs which is ahead of mutual funds, which has about 5 crore PANs
- There was a boom in the number of demat accounts being opened post COVID, especially by 'young Indians'
- Lemonn, an app by PeepalCo, aims to help make decision-making and discovery easy
- Ridhi Kanoria Doongursee, Co-founder, Director, LXME held that less than 10% of financial platforms have women presence and financial services have been conventionally designed for men only
- LXME has a one-hour bootcamp where any woman in India can learn how to manage her money and start on her financial dreams
- The session ended with several suggestions including start small, think big and stay invested with a simple approach
- People should be cautious and ensure that they are diversified, asset allocated and not just taking the last three years as their only learning
- Mistakes people make on stock broking platforms are due to adrenal induced decision-making
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