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SoftBank-backed Delhivery contests metrics in rival Ecom Express’ IPO filing

Startups /

Indian logistics firm Delhivery has publicly contested the accuracy of the metrics presented by competitor Ecom Express in its draft initial public offering prospectus, a rare confrontation in the lead-up to the latter’s market debut.  Delhivery, backed by SoftBank and already publicly listed, claims Ecom Express has inaccurately represented Delhivery’s business metrics when drawing comparisons […]

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WhatsApp brings Meta Verified, customized messages to small businesses in India

Apps /

WhatsApp is now letting small businesses in India sign up for a Meta Verified badge and giving them the ability to send customized messages to customers. India is home to more than 65 million small and medium-sized businesses, but only about 5 million of them sell online, according to a joint report by Meta and

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InMobi secures $100 million for AI acquisitions ahead of IPO

Fundraising /

Adtech startup InMobi has raised $100 million in debt financing as the profitable Indian firm looks to “significantly deepen” its artificial intelligence initiatives and fund potential AI acquisitions ahead of a planned IPO next year.  Mars Growth Capital, a joint venture between MUFG and Liquidity Group, has financed the funding, InMobi said Wednesday. The investment

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Sri Mandir helps Hindus visit sacred temples and offer donations, virtually from their phones

Apps /

While living in the U.S., the Trivedi family was looking for a solution to follow a ritual practice of worshiping at one of India’s Jyotirlingas — a holy representation of the Hindu god Shiva. After searching on YouTube for ways to offer flowers and other items ceremonially at the Indian temple one Sunday in 2023,

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EV startup Ather seeks to raise $370 million in India IPO

Transportation /

Indian electric scooter manufacturer Ather Energy plans to raise about $370 million by issuing fresh shares in an initial public offering, according to its draft prospectus filed on Monday (PDF), as the startup seeks to capitalize on growing demand for electric vehicles in the world’s third-largest auto market. The Bengaluru-based lossmaking startup, which competes with

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Second Byju’s auditor exits in a year as financial turmoil deepens

Startups /

BDO, the auditor for Indian edtech startup Byju’s, has resigned with immediate effect, marking the second auditor departure for the embattling startup in about a year and further intensifying concerns about its financial health and governance. In a scathing resignation letter, BDO subsidiary MSKA highlighted multiple issues with Byju’s, including significant delays in financial reporting,

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Drip Capital, a fintech that provides working capital to SMBs, picks up $113M

Fintech /

For over two decades, Jay Chandarana relied on commercial banks to meet the day-to-day, working capital needs of his family business, the sesame seed exporter Dhaval Agri. It was an arrangement that basically worked: the company grew to have a 13% share of the country’s total exports, making it the largest sesame seed exporter in

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PharmEasy still 92% below its peak $5.6 billion valuation, investor estimates

Startups /

Indian online pharmacy startup PharmEasy, once valued at $5.6 billion, is still about 92% below its peak valuation, according to new estimates by its investor Janus Henderson. According to the British-American global asset firm, which disclosed how it values its shares in the Indian startup in a securities filing, PharmEasy’s implied valuation at the end

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