india

India weighs easing market share limits for UPI payment operators

Government & Policy /

The governing body overseeing India’s popular UPI payments rail is considering easing its proposed market share cap for operators like Google Pay, PhonePe and Paytm as it struggles to enforce limitations, two people familiar with the matter told TechCrunch. National Payments Corporation of India (NPCI), which reports to India’s central bank, is considering increasing the […]

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Amazon taps veteran to lead India business as competition intensifies

Commerce /

Amazon has named long-time executive Samir Kumar as the new head of its India consumer business, following an abrupt leadership change in one of its key markets last month. Kumar, who has been with the e-commerce giant for 25 years, will assume the role of Country Manager for India, the company said. This appointment comes

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Myntra bets on 4-hour delivery amid India’s quick commerce boom

Apps /

Myntra, India’s largest fashion e-commerce platform, is trialling a four-hour delivery service in four Indian cities, two sources familiar with the matter told TechCrunch, a dramatic acceleration from its standard 2-3 day delivery timeframe as the surge of quick commerce reshapes consumer behavior. The Flipkart Group-owned firm is piloting the fast-tracked delivery service in cities

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SoftBank-backed Delhivery contests metrics in rival Ecom Express’ IPO filing

Startups /

Indian logistics firm Delhivery has publicly contested the accuracy of the metrics presented by competitor Ecom Express in its draft initial public offering prospectus, a rare confrontation in the lead-up to the latter’s market debut.  Delhivery, backed by SoftBank and already publicly listed, claims Ecom Express has inaccurately represented Delhivery’s business metrics when drawing comparisons

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WhatsApp brings Meta Verified, customized messages to small businesses in India

Apps /

WhatsApp is now letting small businesses in India sign up for a Meta Verified badge and giving them the ability to send customized messages to customers. India is home to more than 65 million small and medium-sized businesses, but only about 5 million of them sell online, according to a joint report by Meta and

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InMobi secures $100 million for AI acquisitions ahead of IPO

Fundraising /

Adtech startup InMobi has raised $100 million in debt financing as the profitable Indian firm looks to “significantly deepen” its artificial intelligence initiatives and fund potential AI acquisitions ahead of a planned IPO next year.  Mars Growth Capital, a joint venture between MUFG and Liquidity Group, has financed the funding, InMobi said Wednesday. The investment

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Sri Mandir helps Hindus visit sacred temples and offer donations, virtually from their phones

Apps /

While living in the U.S., the Trivedi family was looking for a solution to follow a ritual practice of worshiping at one of India’s Jyotirlingas — a holy representation of the Hindu god Shiva. After searching on YouTube for ways to offer flowers and other items ceremonially at the Indian temple one Sunday in 2023,

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EV startup Ather seeks to raise $370 million in India IPO

Transportation /

Indian electric scooter manufacturer Ather Energy plans to raise about $370 million by issuing fresh shares in an initial public offering, according to its draft prospectus filed on Monday (PDF), as the startup seeks to capitalize on growing demand for electric vehicles in the world’s third-largest auto market. The Bengaluru-based lossmaking startup, which competes with

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Second Byju’s auditor exits in a year as financial turmoil deepens

Startups /

BDO, the auditor for Indian edtech startup Byju’s, has resigned with immediate effect, marking the second auditor departure for the embattling startup in about a year and further intensifying concerns about its financial health and governance. In a scathing resignation letter, BDO subsidiary MSKA highlighted multiple issues with Byju’s, including significant delays in financial reporting,

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