X revenue in India plummeted 89.8% to $2.51 million in the financial year ending March, according to regulatory filings from the Elon Musk-owned social network. The company, which had posted revenue of $24.7 million in the previous fiscal year, also significantly reduced its expenses in India to $2.2 million from $20 million year-over-year, the filing […]
X’s India revenue falls 90%, filing shows Read More »
Paytm, a leading Indian financial services firm, has received regulatory approval to resume adding new UPI payments users, following an eight-month restriction on many of its operations. UPI, which processes over 15 billion monthly transactions, dominates India’s online payments. Walmart-owned PhonePe and Google Pay process about 87% of UPI transactions, whereas Paytm’s market share has
India’s Paytm wins approval to resume payments growth Read More »
Even though India isn’t at the forefront of the global AI innovation battle, demand for AI in the country is growing as businesses seek efficiencies and tech companies promote AI developments as a cure-all. The South Asian nation is projected to have an AI market touching $17 billion by 2027, according to a joint report
India’s Neysa bags $30M to compete with global AI hyperscalers Read More »
Indian stock trading and mutual fund startup Groww paid $159.4 million in taxes as it shifted its domicile from the U.S. back to India, the company said in a statement on Monday. Nearly a dozen Indian startups are in the process of relocating their headquarters to India from the U.S. and Singapore to better comply
Groww pays $160M tax as it returns to India amid a startup relocation wave Read More »
Byju Raveendran, the founder of the embattled edtech group Byju’s, acknowledged on Thursday afternoon that he made mistakes, mistimed the market, and that his startup, once valued at $22 billion, is now effectively worth “zero.” Speaking to a group of journalists, Raveendran said the company’s aggressive acquisition of more than two dozen startups to expand
Byju’s founder says his edtech startup, once worth $22B, is now ‘worth zero’ Read More »
Zepto is in advanced stages of talks to raise $100 million in new investment, its third in the last six months, as the leading Indian quick commerce startup looks to rope in more domestic investors, sources familiar with the talks told TechCrunch. The Mumbai-headquartered startup, which allows customers in multiple Indian cities order grocery, office
Zepto eyes $100M from Indian offices in third funding in 6 months Read More »
According to half a dozen sources, Accel, the global venture firm, is in advanced discussions to lead a funding round of $30 million to $40 million in Truemeds, an Indian online pharmacy that’s focused on providing customers with more affordable generic alternatives to costly branded medications. The talks are currently centered on a proposed valuation
Accel eyes stake in India’s Truemeds at $330 million valuation Read More »
Table Space, an Indian managed workspace provider, is targeting a valuation of $2.5 billion or more for an IPO planned for next year, sources familiar with the matter told TechCrunch. The Bengaluru-headquartered startup has hired Axis Securities as a bookrunner for the IPO, the sources said. Founded in 2017, Table Space leases large office spaces,
Table Space eyes $2.5B valuation in India IPO Read More »
Star Health and Allied Insurance, one of the largest health insurance firms in India, has confirmed it was the target of a “malicious cyberattack,” some two weeks after cybercriminals claimed to post customers’ health records and other sensitive data online. The Chennai-headquartered insurance giant told TechCrunch in a statement Wednesday that the cyberattack resulted in “unauthorized
The Central Consumer Protection Authority, India’s consumer rights regulator, has sent a show-cause notice to Ola Electric over alleged violation of consumer rights, escalating troubles for the leading electric vehicle maker whose shares dropped 9% earlier on Monday, The notice, issued on Monday, gives the Bengaluru-headquartered firm 15 days to respond to allegations that include
India regulator issues notice to Ola Electric over consumer rights concerns Read More »
