Accel has maintained its India fund size at $650 million for its eighth vehicle, even as other venture firms in the region are racing to raise increasingly larger pools of capital. The firm had ample opportunity to raise “multi-billion dollars,” said Shekhar Kirani, partner at Accel, in an interview with TechCrunch. But unlike peers who […]
Accel could raise billions for India, but it’s sticking to $650 million Read More »
Consumer goods giant Hindustan Unilever is in advanced talks to acquire four-year-old direct-to-consumer startup Minimalist for up to $350 million, according to two people familiar with the matter. An acquisition would add to the Unilever subsidiary’s buying spree in India, where it expanded into the health and wellbeing category by acquiring Oziva and Wellbeing Nutrition
Hindustan Unilever in talks to acquire Peak XV-backed Minimalist for up to $350M Read More »
More than half-a-dozen VPN apps, including Cloudflare’s widely-used 1.1.1.1, have been pulled from India’s Apple App Store and Google Play Store following intervention from government authorities, TechCrunch has learned. The Indian Ministry of Home Affairs issued removal orders for the apps, according to a document reviewed by TechCrunch and a disclosure made by Google to
Cloudflare’s VPN app among half-dozen pulled from Indian app stores Read More »
Accel has raised $650 million for its eighth India fund as the U.S. venture firm expands its investment strategy in the South Asian market. The new fund follows the firm’s seventh India fund secured in March 2022. Accel — which has backed companies including e-commerce group Flipkart, food delivery platform Swiggy and software group Freshworks
Accel closes $650 million for new India fund Read More »
India has once again pushed back a contentious plan to limit big technology companies’ control of the nation’s digital payments system, extending a regulatory uncertainty that has weighed on the sector for years. The National Payments Corporation of India said on Tuesday it would extend the deadline for implementing a 30% cap on any individual
India again delays rules to break PhonePe-Google Pay duopoly Read More »
India has removed restrictions on WhatsApp’s mobile payments service in a significant victory for Meta in its largest market by users as it seeks to compete with entrenched fintech rivals. The National Payments Corporation of India, the payments body overseeing the popular UPI payments network, said Tuesday that WhatsApp can now roll out WhatsApp Pay
India lifts WhatsApp payment curbs Read More »
India’s payments regulator is set to decide as early as Monday whether to curb the dominance of Walmart’s PhonePe and Google in the nation’s fast-growing mobile payments market, a move that could reshape how its billion-plus population moves money. The decision centers on UPI, or Unified Payments Interface, a network backed by more than 50
India’s mobile payments dilemma | TechCrunch Read More »
Indian online pharmacy PharmEasy’s valuation now stands at about $456 million, according to disclosures from its investor Janus Henderson, a 92% drop from its peak valuation of $5.6 billion. The British American global asset firm’s Global Research Fund values its holding of 12.9 million shares in PharmEasy at $766,043, according to its latest filing for
PharmEasy’s $5.6 billion value shrinks to $456 million, investor data shows Read More »
Rapido, a popular ride-hailing platform in India, has fixed a security issue that exposed personal information associated with its users and drivers, TechCrunch has exclusively learned. The flaw, discovered by security researcher Renganathan P, was related to a website form meant to collect feedback from Rapido auto-rickshaw users and drivers. The form exposed the full
India’s Rapido exposed user and driver data through leaky website feedback form Read More »
A major McDonald’s delivery system in India exposed the personal information of its customers and drivers due to several simple security flaws, TechCrunch has exclusively learned. The flaws, discovered by security researcher Eaton Zveare, were found in the APIs of the delivery system associated with McDonald’s India (West & South), which is owned by Hardcastle
Bugs in a major McDonald’s India delivery system exposed sensitive customer data Read More »
