Latest from Manish Singh
For over a decade, real-money gaming companies and fantasy sports startups have marketed themselves as video game companies. But as these businesses face increasing regulatory scrutiny, a coalition of more…
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Investors chase wealth tech startups in India as affluent class grows
The high-net-worth and ultra-high-net-worth segments are booming in India, prompting some wealth management firms to aggressively expand their relationship manager networks to capture this market.
Airtel, India’s second-largest telecom operator, on Friday denied any breach of its systems following reports of an alleged security lapse that has caused concern among its customers. The telecom group,…
CoinDCX, India’s leading cryptocurrency exchange, is expanding internationally through the acquisition of BitOasis, a digital asset platform in the Middle East and North Africa, the companies said Wednesday. The Bengaluru-based…
Indian social network Koo is shutting down as buyout talks collapse
The Indian social media platform Koo, which positioned itself as a competitor to Elon Musk’s X, is ceasing operations after its last-resort acquisition talks with Dailyhunt collapsed. Despite securing over…
Unacademy is slashing another 250 jobs in latest round of cuts as Indian edtech sector continues to struggle.Q
Matrix is rebranding its India and China affiliates, becoming the latest venture firm to distance its international franchises. The U.S.-headquartered venture capital firm will retain its name, while Matrix Partners…
Reliance Jio, Airtel kick off Indian telecom price hike
Reliance Jio and Airtel, the two largest telecom operators in India, have initiated what analysts expect to be an industrywide increase in tariffs in the world’s second largest wireless market,…
Flipkart Group launches payments app, Super.money, in fintech push
Indian e-commerce giant Flipkart has quietly started rolling out a payments app, dubbed Super.money, as it broadens its fintech ambitions.
Accel, India’s most successful e-commerce investor, is making a contrarian move by turning its focus to smaller towns and villages.
Prosus, the largest external investor in Byju’s, has written off its 9.6% stake in Indian edtech firm.
Zepto, a 10-minute delivery app, raises $665M at $3.6B valuation
Zepto, an Indian quick commerce startup, has more than doubled its valuation to $3.6 billion in a new funding round of $665 million.
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General Catalyst merges with Venture Highway in India push
General Catalyst is linking up with Venture Highway to make a deeper push into India, where it plans to invest over $500 million in coming years.
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Can quick commerce leapfrog e-commerce in India?
Even as quick commerce startups are retreating, consolidating or shutting down in many parts of the world, the model is showing encouraging signs in India. Consumers in urban cities are embracing the convenience of having groceries delivered to their doorstep in just 10 minutes. The companies making those deliveries —…
India’s Oyo, once valued at $10B, finalizes new funding at $2.5B valuation
Oyo, the Indian budget-hotel chain startup, is finalizing a fresh fundraise of about $100 million to $125 million that slashes its valuation to $2.5 billion, two people familiar with the…
Court halts Byju’s second rights issue as $200M fundraise falters
An Indian court has restrained Byju’s from proceeding with its second rights issue amid allegations of oppression and mismanagement by its shareholders.
India’s largest wealth manager focused on ultra-high-net-worth individuals, 360 One WAM, has agreed to acquire popular Indian mutual fund investment app ET Money for about $44 million. Earlier called IIFL…
BlackRock has slashed the value of stake in Byju’s, once worth $22B, to zero
HSBC and BlackRock estimate that the Indian edtech giant Byju’s, once valued at $22 billion, is now worth nothing.
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Amazon buys Indian video streaming service MX Player
Amazon has agreed to acquire key assets of Indian video streaming service MX Player from the local media powerhouse Times Internet, the latest step by the e-commerce giant to make its services and brand popular in smaller cities and towns in the key overseas market. The two firms reached a…
Modi-led coalition’s election win signals policy continuity in India — and spending cuts
The National Democratic Alliance (NDA) has emerged victorious in India’s 2024 general election, but with a smaller majority compared to 2019. According to post-election analysis by Goldman Sachs, JPMorgan, CLSA,…
Temasek, Fidelity buy $200M stake in Lenskart at $5B valuation
Temasek has previously invested in Lenskart, and this new funding follows a $500 million investment by the Abu Dhabi Investment Authority last year.
Stripe, the world’s most valuable fintech startup, said on Friday that it will temporarily move to an invite-only model for new account sign-ups in India, calling the move “a tough…
Ambani’s Reliance fires opening salvo in fintech battle, launches JioFinance app
With JioFinance, the Indian tycoon Mukesh Ambani is making his boldest consumer-facing move yet into financial services.
Avendus, India’s top venture adviser, confirms it’s looking to raise a $350M fund
Avendus, the top investment bank for venture deals in India, confirmed on Wednesday it is looking to raise up to $350 million for its new private equity fund. The new…
MARS doubles down on India’s Infra.Market with new $50M investment
Infra.Market, an Indian startup that helps construction and real estate firms procure materials, has raised $50M from MARS Unicorn Fund.
Adani looks to battle Reliance, Walmart in India’s e-commerce, payments race, report says
India’s Adani Group is in discussions to venture into digital payments and e-commerce, according to a report.
Google is investing nearly $350 million in Flipkart, becoming the latest high-profile name to back the Walmart-owned Indian e-commerce startup. The Android maker will also provide Flipkart with cloud offerings…
Jio Financial unit to buy $4.32B of telecom gear from Reliance Retail
A Jio Financial unit plans to purchase customer premises equipment and telecom gear worth $4.32 billion from Reliance Retail.
Oyo, once valued at $10 billion, shelves IPO plans for second time
India’s Oyo, once valued at $10 billion, has withdrawn its IPO application from the market regulator for the second time.
Paytm, a leading financial services firm in India, said its net loss widened in the fourth quarter as it grappled with a regulatory clampdown.