india

SolarSquare raises $40 million in India’s largest solar venture round

Climate /

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 […]

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Linux Foundation sets up India entity to boost open source collaboration

Enterprise /

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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Software testing platform LambdaTest secures $38 million for AI push

Fundraising /

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

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Paytm sells PayPay stake to SoftBank for $279.2 million

Fintech /

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

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Myntra enters India’s quick-commerce race with 30-minute apparel delivery

Commerce /

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

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Indian online ID verification firm Signzy confirms security incident

Security /

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

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Prosus eyes 5 Indian IPOs in next 18 months

Venture /

Prosus anticipates as many as five potential IPOs from its Indian portfolio over the next 18 months, signalling growing momentum in the world’s second-largest internet market. The Dutch technology investment group on Monday named payments giant PayU, e-commerce startup Meesho and online jewelry seller Bluestone among startups preparing for public listings. TechCrunch reported last month

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Sequoia nears first Asia-Pacific deal since regional split

Venture /

Sequoia is closing in on making its first deal in India and the broader Asia Pacific region since its split with former partners, according to four sources familiar with the matter. The investor, one of the world’s largest venture capital firms, is in advanced talks to back Vance, a Bengaluru-based cross-border payments startup, the sources

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Reddit looks to UK, India, Brazil and the Philippines to spur international growth

Social /

Reddit is concentrating on international markets such as the U.K., India, Brazil, and the Philippines to bolster its user base. More than 50% of Reddit’s user base is outside of the U.S., the company’s chief operating officer, Jen Wong, told CNBC in an interview. Wong highlighted India, signaling that English-speaking users from the country are

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