A naukri.com initiative
Startup News
VIE Stories
1w
2.6k
Image Credit: VIE Stories
Easy Home Finance Raises $35 Mn From Claypond Capital, Others
- Easy Home Finance, a home finance startup, has raised $35 million in a funding round led by Claypond Capital and Asia Rising Fund.
- Other participants in the funding round included Xponentia Capital, Harbourfront Capital, Finsight Ventures, and Pegasus India Evolving Opportunities Fund.
- The company plans to expand its network to over 150 sites across India and increase its assets under management to $300 million within the next 24 months.
- Easy Home Finance was founded in 2017 and provides paperless mortgage-backed loans and other banking services using technology.
Read Full Article
11 Likes
Startup Pedia
1w
932
Image Credit: Startup Pedia
Fintech Startup ‘Cred’ Enters Insurance Space With ‘Garage’ Platform
- Indian Fintech company, Cred, is diversifying into motor insurance through its vehicle management platform, Cred Garage.
- Cred Garage is a platform where users can track vehicle spending, renewal dates, and get assistance in case of breakdowns.
- Cred has around 7 million registered vehicles and 4.4 million users on Cred Garage.
- Cred has obtained a corporate agency license from IRDAI and is partnering with insurance companies to offer motor insurance products.
Read Full Article
25 Likes
Yourstory
1w
753
Image Credit: Yourstory
Paytm CPO Shreyas Srinivasan exits Paytm after Zomato deal
- Shreyas Srinivasan, Chief Product Officer (CPO) for Consumer Products at Paytm, has left the company after the sale of Insider.in to Zomato.
- Srinivasan stated that the sale of Insider.in to Zomato prompted his departure from the company.
- He plans to take a break and explore new passions after fixing personal 'tech debt'.
- Paytm acquired a majority stake in Insider.in in 2017 and it was rebranded as 'Paytm Insider' in 2018.
Read Full Article
11 Likes
Yourstory
1w
0
Image Credit: Yourstory
Why multicloud is the future of enterprise cloud computing
- Multicloud access to various public cloud providers reduces expenses and increases flexibility for businesses.
- Multicloud computing has grown popular as it reduces vendor lock-in and allows businesses to choose top-notch services from several providers.
- Multicloud enhances overall agility by enabling businesses to choose the best services for certain workloads.
- Companies can save 10% to 20% on their annual cloud expenditures by using multicloud techniques.
- Multicloud minimizes the chances of total system failure by distributing workloads and data among several providers.
- Multicloud can strengthen security measures and help businesses comply with data privacy rules such as the Digital Personal Data Protection Act (DPDP Act).
- To implement multicloud successfully, businesses need to evaluate each provider's advantages and invest in strong cloud management tools.
- Employee upskilling and training in cloud computing are crucial for efficiently administering and maximising the advantages of a multicloud approach.
- Challenges of multicloud include management complexity and problems with data integration.
- Multicloud approach will facilitate businesses' integration of new technologies into their daily operations.
Read Full Article
Like
Npengage
1w
156
Image Credit: Npengage
4 Nonprofit Financial Statements and How to Create Them
- Effective financial management equips you to make the most of your nonprofit’s limited resources.
- Four core reports, known as financial statements, that nonprofits should create to review financial data and activities.
- The first statement is the Statement of Activities, which details a nonprofit’s revenue sources and expenses.
- The second statement is the Statement of Financial Position, which highlights the change in net assets in detail.
- The third statement, which is the Statement of Cash Flow, highlights inflow and outflow of cash and how much cash is available to cover expenses.
- The fourth statement is the Statement of Functional Expenses, where you will be able to get a detailed report on all of the expenditures of the nonprofit in accordance with the mission.
- When the time comes to compile your financial data into organized reports, there are a few steps you must follow.
- The first step is to gather financial data which includes income, expenses, assets, liabilities, and details on restrictions.
- The second step is to compile data in a financial statement template.
- The third step is to consult a professional accountant.
Read Full Article
9 Likes
Yourstory
1w
379
Image Credit: Yourstory
How deepfake detection is shaping the future of AI
- Deepfakes are designed to mislead people to believe and generate video or images that look and sound genuine using deep learning models of Artificial Intelligence.
- Diffusion Models is a new type of AI technology that makes spotting fakes even more challenging as they create very realistic videos and photos.
- AI detectives can now look closely at videos, frame by frame, to find tiny mistakes, like weird eye movements or changes in lighting that don't seem natural, to reveal if a video is fake.
- Microsoft's Video Authenticator and FakeBuster uses Video Authenticators to detect deepfakes in videos in real-time however, detecting deepfakes takes a lot of computing power.
- Governments have also introduced laws and policies to make it more difficult for people to create misleading fake videos and willing to encourage the development of beneficial applications of the technology.
- Many tech companies, including Facebook, Google, and Microsoft, are creating tools that can scan videos on their platforms to find fakes before they spread.
- AI can be used for different applications, creating impressive art, videos, and assisting with problem-solving tasks, which could lead humanity into the next stage of evolution.
- Deepfakes are a challenge, but with continued efforts towards regulating its use, AI can continue to enrich society in transforming ways.
Read Full Article
22 Likes
Yourstory
1w
384
Image Credit: Yourstory
Auto startups' revenue goes vroom vroom!; How Entrust Family Office manages wealth
- Resignations in Indian tech industry such as Shreyas Srinivasan of Paytm Insider, and Muralikrishnan B of Xiaomi India institutionalize the phrase 'Step down to step up'.
- Swiggy raises INR 5085 CR ($605mn) from major anchor investors ahead of its public issue. This will allow the company to build Imart's existing network for quick deliveries.
- After a sharp mark down in its valuations, Ola Electric's 50% shares are under scrutiny. Vanguard has now valued it at $2bn as opposed to $7.3bn in 2018 while its shares have plummeted by 7%.
- Policybazaar's parent company, PB Fintech reported a 44% YoY increase in Q3 FY24 while turning around its loss to a profit of INR 51 CR from last years loss of INR 21 CR.
- Spinny, CarTrade Tech, and Euler Motors have displayed growth in their revenues and profits in Q2 and FY24.
- Entrust Family Office who's one of the marquee clients included Nandan Nilekani and Accel's Founding Partner Prashanth Prakash provides a full suite of in-house services to manage wealth.
- Priyanka Roy Kapur, co-founder and director at The LiveWire Experience has now launched RoyKapur Wedding Co that provides luxury weddings for clients. She also plans to expand their established business in new geographic markets.
- Meta Platforms has been fined 21.62 billion won ($15.67mn) over violation of sensitive user data. The Network for Greening the Financial System reported the chances of climate change impacting global GDP has quadrupled by 2040.
- Apple's internal survey for AR glasses to understand the prefered features, materials, and pricing for their new device.
- Trivia Question: Who was the only US president to serve as president and vice president without being elected? Answer: Gerald Ford.
Read Full Article
23 Likes
Inc42
1w
379
Image Credit: Inc42
How Vobble Is Crafting A New Niche In Kids’ Audio Content
- Vobble is an audio OTT platform that offers an immersive storytelling experience to kids between 4 and 12 years of age.
- According to Sharma, the co-founder, the content on most platforms is often monotonous and created by adults.
- The startup reported a revenue of INR 60 Lakh+ in FY24 and claims to have a monthly recurring revenue (MRR) of INR 13 Lakh.
- Vobble earns its revenues from subscriptions, and it releases new content weekly, either created in-house or in collaboration with renowned publishers like HarperCollins, Scholastic, Tinkle, Amar Chitra Katha, and Tulika.
- The startup’s flagship product, The Vobble Box, includes the app’s subscription and kids-friendly headphones.
- The startup currently produces 10 hours of content monthly and updates the content on a weekly basis.
- The startup also partners with brands such as Hasbro, Rebel Girls, the Australian Broadcasting Corporation, and Owl Field, utilising their content IPs.
- Vobble is planning to expand across genres and is producing podcasts, quizzes, and weekly news updates.
- Vobble is preparing for the next generation, where it will provide kids with their own device, allowing them to access content independently and will feature a microphone to enable them to create their own content.
- The startup is looking to enter the US market, and the cofounders are mindful of using AI and making sure that appropriate guardrails are in place to protect kids’ privacy.
Read Full Article
22 Likes
Yourstory
1w
287
Image Credit: Yourstory
Logistics startup Ripplr's loss widens to Rs 89 Cr, revenue rises 39% in FY24
- Logistics startup Ripplr reported a 39% increase in revenue for FY24 at Rs 1,032.43 crore.
- However, its losses widened to Rs 89.15 crore in FY24 compared to Rs 62.09 crore in FY23.
- The rise in losses was due to increased expenses, including purchases of stock-in-trade, employee benefits, and finance costs.
- Ripplr offers an integrated distribution platform for FMCG brands and recently raised $40 million in funding.
Read Full Article
17 Likes
Economic Times
1w
143
Image Credit: Economic Times
Easy Home Finance secures $35 million from Claypond Capital, others
- Easy Home Finance has raised $35m in a funding round led by Claypond Capital and Sumitomo Mitsui Banking Corporation’s Asia Rising Fund.
- The home financing startup also saw participation from existing investors Xponentia Capital, Finsight Ventures, Harbourfront Capital, and Pegasus India Evolving Opportunities Fund.
- With the fresh funds, the company aims to grow its assets under management to $300m and build a presence in 150 locations within India.
- Currently, Easy Home Finance's assets under management is around $90m and it is present in 90 locations in the country.
- Easy Home Finance, which caters to people needing home loans between Rs 10 lakh (approximately $13,480) and Rs 50 lakh, has given out 10,000 loans as of now.
- The company's founder, Rohit Chokhani, who belongs to a family in the real estate business, built the startup's online customer journey.
- In addition to this funding, Easy Home Finance has raised over Rs 450 crore (approximately $60m) in debt from around 25 banks.
- Chokhani said that he has staff on the ground to visit customers to build their confidence and collect physical documents of the house which gets hypothecated to the lender.
- The company underwrites the house's details with data to get it approved via the app instantly.
- Easy Home Finance sources 25% of its applications digitally through online search platforms and another 25% through its partnership with government agencies.
Read Full Article
8 Likes
Economic Times
1w
270
Image Credit: Economic Times
Ex-defence secretary Ajay Kumar’s VC fund to invest in spacetech firm GalaxEye
- Former defense secretary Ajay Kumar's firm Mounttech Growth Fund is joining GalaxEye's $10 million series A funding round
- Infosys, Celesta Capital, Speciale Invest, Mela Ventures, and Rainmatter are also part of the funding round
- Mounttech has raised Rs 400 crore and closed its first deal, with three more deals nearing finalisation, as per reports
- GalaxEye’s Series A round aims to fund its satellite that will provide high-resolution, all-weather, multi-sensor data
- IdeaForge is one of GalaxEye’s investors and is partnering with the start-up to develop technology for drones
- GalaxEye has so far raised about $15 million
- India's space technology sector secured $126 million in funding in 2023, compared to $118 million and $37.6 million in 2022 and 2021 respectively
- GalaxEye’s innovative approach to satellite technology aligns well with Mountech’s commitment to fostering ground-breaking advancements in national security and defense
- The startup aims to launch its satellite in mid-2022 and will focus on commercializing the technology
- The proceeds from the funding will be used for accelerating development of the satellite, including sensor technology for drones
Read Full Article
16 Likes
Medium
1w
354
Image Credit: Medium
Decoding AI
- AI companies now represent 34% of S&P market cap due to their contribution in providing efficient solutions in different sectors. However, it is uncertain whether the AI mentions in the Q2 earnings reports have played a role in the industry's success.
- Despite the moderate valuations in SaaS companies, perceived market leaders are of high value. With AI gaining materialization, software leaders could experience a significant spike in their revenue, leading to vertical take-off.
- The spending spree in the AI scene, currently worth USD 1.2tn, outweighs the significant top-line gains in the industry, resulting in an ROI drag.
- In contrast, growth remains crucial for valuation optimization in this area - efficient growth, in particular. Growth delta around 20% can reshape the revenue multiples of Rule-of-40 companies.
- AI technology is all set to redefine the software landscape by expanding the addressable market of many sectors. It is expected to birth many unicorns in due course.
- Raises concerns in the market with regards to dry exits, marking IPOs at near 15-year lows, and M&A activity staying subdued amidst regulatory headwinds.
- Although Brexit and trade war continues to bring to the uncertainty in markets, VC waits for vertical data to continue yielding profits.
- Chelsea Stoner of Battery Ventures states that companies who control vertical data will reap maximum benefits in the AI landscape.
- Growth remains crucial for valuation optimization in this area- efficient growth, that is. Growth delta around 20% can reshape the revenue multiples of Rule-of-40 companies.
- Although the market may have missed the memo on this, Rule-of-40 companies under-utilize growth levers, leaving USD 500bn of untapped value on the table.
Read Full Article
21 Likes
StartupDaily
1w
257
Keeping control: How to raise capital without giving away your startup
- Founders, executive teams and investors are looking further afield at additional capital sources including venture debt, R&D loans and revenue-based financing.
- The days of easily securing large equity rounds are behind us, at least for now.
- Venture debt is essentially a loan provided to venture-backed or venture-backable companies.
- It’s a solution that can work alongside equity funding and is particularly valuable for founders who are sensitive to dilution.
- Mighty Partners provides flexible venture debt funding that typically equates to around 23% of the equity funds committed.
- An unfortunate reality, however, is that equity is essential in those early stages.
- This is where venture debt can deliver serious strategic value.
- Don’t jump at the first funding option that appears.
- The real winners are those who still own their business and have been able to manage growing their business with minimal dilution.
- For early-stage startups, equity might be the key that unlocks your initial success.
Read Full Article
15 Likes
TheStartupMag
1w
316
Image Credit: TheStartupMag
The Rise of the Conscious Entrepreneur – Four Tips for Success
- Conscious companies balance purpose and profits, making money while making the world better.
- Nearly 50% of US and Canadian founders start their businesses to make a difference in the world, according to the Global Entrepreneurship Report.
- Conscious entrepreneurs prioritize solving problems over making profit, and focus on serving customers and taking care of employees as the path to making money.
- Authentic marketing is key to attracting like-minded customers, and measuring impact adds value to the brand.
- Conscious entrepreneurs live their values every day and align business goals with a greater purpose.
- The Conscious Business Growth Platform shows entrepreneurs how to evolve their start-ups from zero to $1m and beyond.
- Profit is a means to an end, which goes beyond merely the balance sheet.
- Shift/Co is a growth program for conscious entrepreneurs that offers community, coaching, training and mentorship.
- Terri Maxwell has almost 30 years of experience launching, owning, selling, rebranding or turning around more than 50 brands.
- Conscious entrepreneurs balance purpose and profits to create a lasting legacy that goes beyond monetary gains.
Read Full Article
19 Likes
TechCrunch
1w
38
Image Credit: TechCrunch
Canoo’s CFO and top lawyer are the latest executives to leave
- EV startup Canoo's CFO and top lawyer, Greg Ethridge and Hector Ruiz, have resigned.
- The departures come amidst Canoo's struggle to find mass adoption of its electric work vans.
- The company has furloughed 30 workers in Oklahoma and undergone a realignment of its North American operations.
- Canoo is facing financial challenges, with lawsuits from suppliers and borrowing funds from CEO Tony Aquila's fund.
Read Full Article
2 Likes
For uninterrupted reading, download the app