india

Linux Foundation sets up India entity to boost open source collaboration

Enterprise /

The Linux Foundation, the nonprofit organization promoting open source adoption, has announced the launch of its India entity. The organization is looking to promote open source contributions across the South Asian nation’s ecosystem of enterprises, startups, and the government. India already has 13.2 million developers using GitHub for their projects, per Microsoft. The country is […]

Linux Foundation sets up India entity to boost open source collaboration Read More »

Software testing platform LambdaTest secures $38 million for AI push

Fundraising /

LambdaTest, a cloud-based software testing platform, has raised $38 million in a funding round as it looks to expand its presence in existing markets and advance its AI capabilities. The San Francisco and Noida-headquartered startup’s Series D round has been led by Avataar Ventures with participation from Qualcomm Ventures, bringing its total funding to $108

Software testing platform LambdaTest secures $38 million for AI push Read More »

Paytm sells PayPay stake to SoftBank for $279.2 million

Fintech /

Paytm has agreed to sell its stake in Japanese payments firm PayPay to SoftBank for $279.2 million, as the Indian firm sheds non-core assets following a bruising regulatory clampdown earlier this year. The sale of Paytm’s stake in PayPay, which it received through acquisition rights six years ago, follows months of restructuring at the Indian

Paytm sells PayPay stake to SoftBank for $279.2 million Read More »

Myntra enters India’s quick-commerce race with 30-minute apparel delivery

Commerce /

Apparel and accessories platform Myntra on Thursday launched “M-Now,” its quick-commerce offering that promises to deliver apparel and accessories within 30 minutes. Retailers in India are rushing to meet changing consumer behavior and expectations, particularly fast deliveries of groceries, beauty and lifestyle products within an hour. Myntra said M-Now will offer customers access to 10,000

Myntra enters India’s quick-commerce race with 30-minute apparel delivery Read More »

Indian online ID verification firm Signzy confirms security incident

Security /

Signzy, a popular vendor offering online “know your customer” ID verification and customer onboarding services to several top financial institutions, commercial banks, and fintech companies, has confirmed a security incident. The Bengaluru-based startup, which serves over 600 financial institutions globally — including the four largest Indian banks, was hit by a cyberattack last week, according

Indian online ID verification firm Signzy confirms security incident Read More »

Prosus eyes 5 Indian IPOs in next 18 months

Venture /

Prosus anticipates as many as five potential IPOs from its Indian portfolio over the next 18 months, signalling growing momentum in the world’s second-largest internet market. The Dutch technology investment group on Monday named payments giant PayU, e-commerce startup Meesho and online jewelry seller Bluestone among startups preparing for public listings. TechCrunch reported last month

Prosus eyes 5 Indian IPOs in next 18 months Read More »

Sequoia nears first Asia-Pacific deal since regional split

Venture /

Sequoia is closing in on making its first deal in India and the broader Asia Pacific region since its split with former partners, according to four sources familiar with the matter. The investor, one of the world’s largest venture capital firms, is in advanced talks to back Vance, a Bengaluru-based cross-border payments startup, the sources

Sequoia nears first Asia-Pacific deal since regional split Read More »

Reddit looks to UK, India, Brazil and the Philippines to spur international growth

Social /

Reddit is concentrating on international markets such as the U.K., India, Brazil, and the Philippines to bolster its user base. More than 50% of Reddit’s user base is outside of the U.S., the company’s chief operating officer, Jen Wong, told CNBC in an interview. Wong highlighted India, signaling that English-speaking users from the country are

Reddit looks to UK, India, Brazil and the Philippines to spur international growth Read More »

Zomato raises $1 billion in first major fundraise since 2021 listing

Fundraising /

Zomato has raised $1 billion through a so-called qualified institutional placement, completing its first major fundraise since its 2021 IPO. The $30 billion food delivery and quick-commerce giant, which leads both those categories, issued approximately 336.5 million shares at ₹252.62 each ($3), according to a stock exchange filing on Friday. The placement, which opened on

Zomato raises $1 billion in first major fundraise since 2021 listing Read More »