Groww, India’s largest retail stockbroker, is preparing to file for an IPO in 10 to 12 months, seeking a valuation between $6 billion and $8 billion, sources familiar with the matter told TechCrunch. The Bengaluru-headquartered’s listing would be the first IPO by a digital trading platform in India. The targeted valuation is more than double […]
Groww, India’s biggest trading app, seeks $7B value in IPO Read More »
As global regulators increase their scrutiny on Visa and Mastercard over merchant fees, India has chosen a different path: creating rival payment networks that are increasingly sidelining international card networks. The strategy builds on India’s Unified Payments Interface, known as UPI, a nine-year-old system that now processes more than 13 billion real-time transactions monthly, or
India’s payment push is cutting out Visa and Mastercard Read More »
Flipkart has hired Kabeer Biswas, co-founder of Indian delivery startup Dunzo, as the Walmart-owned e-commerce group expands its quick commerce business in the world’s most populous nation. Biswas will lead Flipkart’s quick commerce business, called Flipkart Minutes, a source familiar with the situation told TechCrunch. The move follows Flipkart engaging with Biswas over a potential
Flipkart taps Dunzo founder to lead quick commerce push Read More »
Microsoft announced a sweeping series of artificial intelligence partnerships across India’s core sectors on Wednesday, a day after pledging to invest $3 billion in the country over the next two years as it intensifies competition with rivals Google and Amazon. The tech giant’s chief executive Satya Nadella (pictured above) unveiled agreements with five major organizations
Microsoft backs its $3B AI push in India with public and private sector deals Read More »
Some Indian government websites continue to allow the planting of scammy links on their official domains months after TechCrunch reported the issue. TechCrunch found more than 90 “gov.in” website links associated with Indian government departments — including the Indian Council of Agricultural Research and India Post, as well as state governments and councils of Haryana
Indian government websites are still redirecting users to scam sites Read More »
South Park Commons, a Silicon Valley collective of engineers, founders, and researchers, is raising an India-specific fund over six months after entering the South Asian market in June, according to a filing with the U.S. Securities and Exchange Commission (SEC) last week. The exact size of the fund is yet to be determined, though the
South Park Commons is raising $40M for an India-specific fund Read More »
Microsoft plans to invest $3 billion to expand capacity for its artificial intelligence and cloud Azure services in India and also upskill an additional 10 million people in the country with AI, the software giant’s chief executive said Tuesday. “The investments in infrastructure and skilling we are announcing today reaffirm our commitment to making India
Microsoft to invest $3 billion into cloud and AI push in India Read More »
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 »
