Aye Finance, a lender targeting small- and medium-sized businesses in India, is seeking to raise $171 million from its initial public offering, it disclosed in a filing Tuesday. The offering comprises a $104 million fresh share issue and a $67 million secondary sale by existing investors. Proceeds from the IPO will be used to expand […]
Alphabet-backed Indian lender files for $171M IPO Read More »
Google has appointed Preeti Lobana to lead its India business, filling a key position that had been vacant since Sanjay Gupta’s promotion to Asia-Pacific president in July. Lobana, who was vice president of advertising technology at Google, takes over as the company pushes its AI products in India amid intensifying competition in the digital market.
Google names new India chief Read More »
Zomato, India’s top food delivery and quick commerce platform, has been slapped with a tax bill of $94.5 million. The Indian tax authority has ordered the $32 billion firm to pay 401.7 crore in allegedly unpaid gross goods and services tax for the period between October 29, 2019, and March 31, 2022. The order also
India’s Zomato slapped with $95 million tax bill Read More »
SolarSquare has raised $40 million in what is the largest venture round in India’s solar sector. The Mumbai-based startup bootstrapped and was profitable selling to corporate customers for five years before switching to residential solar in 2021. Now it has scaled to powering over 20,000 homes and 200 housing societies across India, and is India’s
SolarSquare raises $40 million in India’s largest solar venture round Read More »
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
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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 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 »
MobiKwik, an Indian financial services startup, has cut the size of its planned IPO for the third time, setting a price band of ₹265-₹279 ($3.1-$3.3) that values it at $250 million — down sharply from its last private valuation of $924 million in 2021. The Gurugram-based fintech, backed by Peak XV and ADIA, is seeking
MobiKwik downsizes its IPO for the third time Read More »
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 »
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 »
