Author: News Desk

InCred, the fintech firm, has achieved unicorn status, securing $60 million in a Series D funding round from both new and existing investors. With a valuation of $1.04 billion post-investment, InCred is the second company to attain unicorn status in the current year. The Series D round was spearheaded by Ranjan Pai of MEMG, who contributed $9 million. Noteworthy investments also came from Ravi Pillai, Chairman at RP Group of Companies, with $5.4 million, and Ram Nayak, Global Co-Head of the Investment Bank and Head of Fixed Income & Currencies at Deutsche Bank, with $1.2 million. The funding round witnessed…

One 97 Communications, the parent company of Paytm, has strategically laid off over 1,000 employees, targeting a 15% reduction in staff costs. This initiative, executed over the past months, affects various departments, including payments, lending, operations, and sales, impacting around 10% of Paytm’s workforce. The move, driven by performance-related concerns, aligns with the company’s goal to enhance profitability in the face of financial challenges observed in the new economy sector. The sector, characterized by technologically advanced businesses, has witnessed over 28,000 job cuts in the first three quarters of the year due to increased difficulty in securing funding. While a…

Union Minister Ashwini Vaishnaw recently announced that Prime Minister Narendra Modi is set to inaugurate the state-of-the-art Amrit Bharat train, showcasing cutting-edge push-pull technology. Vaishnaw emphasized the revolutionary impact of this technology on both train speed and passenger comfort. The Amrit Bharat train boasts enhanced acceleration, courtesy of the push-pull technology. This innovation ensures swift acceleration and deceleration, optimizing travel time on curved tracks and bridges. The incorporation of semi-permanent couplers eliminates potential shocks within the train, enhancing overall passenger experience. Additionally, each seat is equipped with charging points, catering to the modern traveler’s need for electronic device accessibility. To…

In response to the increasing demand for eco-friendly packaging solutions and the rising concern about environmental sustainability, various alternatives to traditional packaging materials are gaining momentum in the market. One such innovative venture is Dharaksha Ecosolutions, a B2B startup founded in 2020 by Anand Bodh and Arpit Dhupar. This article explores how Dharaksha is addressing environmental challenges by converting paddy straw stubble into biodegradable packaging material, offering a sustainable solution to the packaging industry. The Genesis of Dharaksha: Driven by the alarming increase in field fire incidents, particularly stubble burning, Bodh and Dhupar identified a critical need for economically viable alternatives for farmers. Stubble burning…

As the festive season envelops India with the joyous celebrations of Christmas and the anticipation of a new year, startups find themselves at a unique juncture. This period not only marks the culmination of the current year but also offers a strategic opportunity to prepare for the challenges and opportunities that the next year holds. Here’s a comprehensive guide on how startups can make the most of the holiday season to set the stage for a successful year ahead. Reflecting on the Year Before diving into the hustle and bustle of holiday preparations, take a moment for reflection. Evaluate the…

Today, Christmas has become a significant industry, with a substantial portion of it dedicated to the multibillion-dollar business of selling Christmas trees. The Christmas tree tradition has diverse historical roots, often traced back to ancient civilizations. Initially, ancient Egyptians adorned their homes with trees in reverence to the god Ra during the winter solstice. Later, ancient Romans celebrated the Winter Solstice with the Saturnalia feast, decorating their homes and temples with evergreen boughs in honor of Saturn, the god of agriculture. The Germans played a pivotal role in shaping the modern Christmas tree tradition during the 16th century. They began…

Delayed payments have long been a hurdle for Micro, Small, and Medium Enterprises (MSMEs), impacting their working capital and market competitiveness. The government’s Samadhaan portal, launched in October 2017 to address delayed payments, has recorded a substantial 1.68 lakh complaints involving almost Rs 40,000 crore in delayed payments. MSME-1 Form Introduction To combat this issue and ensure timely payments, the government introduced the MSME return form, known as the MSME-1 form, in January 2019. This move aims to track outstanding dues and provide a mechanism for MSMEs to address late payment challenges.Companies categorised as ‘Specified Companies’ under Section 405 of…

Fitch Ratings, a leading rating agency, anticipates India to emerge as one of the fastest-growing nations globally in the next fiscal year, projecting a resilient GDP growth of 6.5% in 2024-25. In the ongoing fiscal year, Fitch estimates India’s GDP to grow at a noteworthy rate of 6.9%. The rating agency highlights that demand is expected to remain robust for essential sectors such as cement, electricity, and petroleum products. Fitch notes that high-frequency data in 2023 indicates sustained levels well above those observed before the Covid-19 pandemic. Infrastructure Boom Boosting Steel Demand India’s escalating infrastructure spending is poised to drive…

Hyundai Motor India has announced a thrilling collaboration with Red Bull for the inaugural Red Bull Urban Downhill, a high-speed mountain biking event set to take place in Aizawl, Mizoram, in March 2024. This partnership marks the first-ever collaboration between Hyundai Motor India and Red Bull in India, bringing together the dynamic worlds of automotive innovation and extreme sports. An Adrenaline-Packed Adventure Course Red Bull Urban Downhill is not your typical mountain biking event. Athletes navigate a downhill adventure course filled with various obstacles and high jump ramps, promising an adrenaline-packed experience for participants and spectators alike. Hyundai’s Outdoorsy Spirit…

Gandhiji’s place of birth, Gujarat, recently witnessed a significant shift in its liquor policies. The Gujarat government, on a Friday, granted permission for alcohol consumption within hotels, restaurants, and clubs offering ‘Wine and Dine’ services in the Gujarat International Finance Tec-City (GIFT City) in Gandhinagar. Notably, Gujarat is renowned for being a dry state, where the sale and consumption of alcohol are restricted. According to an official notification, all employees and owners working within the entire GIFT City will now be eligible for a liquor access permit. This development is noteworthy as it marks a departure from the traditional prohibition…