Shabs F.’s Post

Nintee, a digital health startup launched by Wingify founder Paras Chopra, has announced shutting down its operations after a year of launch. In a blog post, Chopra said that the majority of funding raised by the company is still remaining and will be returned to investors over the next few weeks. Nintee was backed by the likes of Peak XV Partners, Kunal Shah, and others. “Our original hypothesis was to use AI for helping people build better habits to transform their lives. This attracted a passionate niche, but we couldn’t build conviction that it could be a VC-scale business,” said Chopra. After abandoning the initial idea, the firm tried another pivot to explore education and learning related ideas, but Nintee team quickly discovered that building a successful consumer app today is very hard. Nintee has provided four months of severance to the impacted employees and also offered them to join Chopra’s other company VWO at the same salary. Nintee was the third company founded by Chopra after VWO and Wingify. His bootstrapped company Wingify reported back-to-back profits in the past fiscal years. Its revenue from operations increased 16.8% to Rs 223 crore in FY23 with Rs 51 crore profit after tax. #startup #ai #news #nintee #funding #shutdawn #paraschopra #motivation #startupnews

Honasa Consumer Ltd, the parent of D2C unicorn Mamaearth, posted a 264% increase in its consolidated net profit to Rs 25.9 Cr in the quarter ended December 2023 from Rs 7.1 Cr in the year-ago quarter. However, profit declined sequentially from Rs 29.4 Cr in the preceding September quarter. 🚀 Join the startup revolution! Follow StartupTrak for the latest and hottest startup news, inspiring stories, and game-changing innovations! 💯❤️🔥 . . #HonasaConsumerLtd #Mamaearth #D2CUnicorn #QuarterlyEarnings #NetProfit #BusinessPerformance #Growth #FinancialResults #ConsumerGoods #DirectToConsumer #ProfitIncrease #StartupNews #StartupTrak

📢 Join our 46th Startup Pitch cum Deep Dive Call at 5PM today for a chance to invest in PickMyWork! (Empowering fintech & digital firms to reach SMBs via dynamic pay-per-task model.) PickMyWork operates as a dynamic gig platform specializing in connecting Fintech and Digital Companies with SMBs through a pay-per-task model. Central to PickMyWork’s approach is the employment of upskilled unemployed youth, who bring trained capabilities to the tasks they undertake, fostering both economic inclusion and skill development among young individuals. 📅 Date: Jun 22, 2024 ⏰ Time: 5:00-5:45 PM IST 👉 Deal Summary: https://lnkd.in/gsas5B2y Co-Founder, CEO, & CBO: Vidyarthi Baddireddy | Kajal Malik Deal-Runner: Harshita Kotia | Devanshi Pahuja 🔄 Help us amplify the excitement! Share this post with your network, mention fellow entrepreneurs and investors, and spread the word about this incredible opportunity. Stay engaged with our community for the latest updates on upcoming pitch calls, and investment opportunities, and immerse yourself in the vibrant startup ecosystem. 👉 Link to Join Pitch Call: https://lnkd.in/g4dbN3PH Vijay Singh Rathore | Neha Rathore | Dr. Divya Shekhawat | Shubham Jain #Soonicorn #SoonicornVentures #PitchCall #46thPitchCall #StartupPitchCall #InvestmentOpportunity #SoonicornVentures #InvestorCall #PitchEvent #GrowWithUs #TechStartups #InvestorAlert #HighGrowthStartups #VentureCapital #InvestmentDeals #StartupFunding #InnovativeStartups #DeepDiveCall #SeedInvestment #VCInvestors #InvestInGrowth #CapitalOpportunities #JoinThePitch #StrategicInvesting #46thStartupPitchCall

Just like cars, startups need to refuel to keep going. But how long can they go before needing that top-up? Reading Keith Teare newsletter, "That Was the Week" I found that according to Crunchbase data analyzed by Joanna Glasner, it seems like some U.S. unicorns have been running on fumes for a while now. In fact, a sample set of 28 private companies, valued at $1 billion or more, haven't raised a round for over three years. That's a concerning trend, especially considering that sustained growth often requires continuous investment. But here's the kicker 💡 SignalRank data reveals that 1️⃣ Only about 42% of Series B-funded startups go on to raise a Series C and, 2️⃣ Just around 10% become unicorns It's a reminder that success isn't guaranteed, even with early funding. So raising a Series A or B isn't always the finish line. The clock is ticking for them to secure their next round of funding. As Glasner's analysis suggests, the longer they wait, the tougher it gets. Let's keep an eye on these once-soaring unicorns and see how they navigate the challenging road ahead. [Link to the article in comments] #StartupInsights #FundingTrends #Unicorns #CrunchbaseAnalysis

EaseMyTrip reported a 9.6% increase in consolidated net profit to Rs 45.6 Cr in the quarter ended December 2023 from Rs 41.6 Cr in Q3 FY23. However, profit declined 2.7% from Rs 46.9 Cr reported in the September quarter of 2023. 🚀 Join the startup revolution! Follow StartupTrak for the latest and hottest startup news, inspiring stories, and game-changing innovations! 💯❤️🔥 . . #EaseMyTrip #QuarterlyEarnings #NetProfit #FinancialResults #TravelIndustry #ProfitIncrease #Q3FY23 #Q3FY24 #BusinessPerformance #ProfitDecline #StartupNews #StartupTrak

Geotech startup MapmyIndia’s consolidated profit after tax (PAT) increased about 5% to Rs 31.1 Cr in the December quarter (Q3) of the financial year 2023-24 (FY24) from Rs 29.7 Cr in the last year’s quarter. While the startup’s bottom line growth slowed year-on-year (YoY) in Q3, it also witnessed a degrowth sequentially. MapmyIndia’s PAT declined 6% from Rs 33.1 Cr reported in the previous quarter – Q2 FY24. 🚀 Join the startup revolution! Follow StartupTrak for the latest and hottest startup news, inspiring stories, and game-changing innovations! 💯❤️🔥 . . #MapmyIndia #GeotechStartup #FinancialResults #ProfitAfterTax #EconomicNews #BusinessPerformance #Q3FY24 #IndianStartups #TechInMaps #BusinessMetrics #TechInnovation #EconomicDevelopment #StartupNews #StartupTrak

"With the market being the way it is, we weren’t immune. We downsized our team a bit towards the end of 2022.I wish we had FairSplit in advance of this. We would’ve been able to provide adequate severance packages without taking the immediate cash hit.The way I see it FairSplit is a powerful solution that gives startups the ability to buy time and reduce tax liabilities. Much needed product and helped provide visibility into how we think about our growth plan down the road as well with the AI component." - Evan Leaphart Founder | Kiddie Kredit" #Startups #TransitionManagement #EmployeeWelfare #BusinessGrowth #TaxSavings #Fairsplit

Weekly Wrap-up: This video summarises the top funding updates of the week gone by. BW Disrupt aims to bring such capsulated videos every weekend to help you stay updated with the startup world Click to watch: https://lnkd.in/dvcNjBJb Annurag Batra Noor Fathima Warsia Tanvie Ahuja Chetan Mehra Nitesh Kumar #WeeklyWrapup #summary #funding #updates #BWDisrupt #weekend #update #startup #world

Astera Labs hopes to raise $673.2 million To know more about it read our full article here: https://lnkd.in/dyux8eFM . . . #cionews #newsdesk #trendingnews #dailynews #AsteraLabs #techfunding #startupinvestment #techfinance #venturecapital #fundingnews #techstartups #innovationfunding #techinvestment #startupfunding #techindustry #AsteraLabsFunding #technews #startupgrowth #businessfinance #techinnovation #venturecapitalists #fundinground #techentrepreneurship #StartupSuccess

Dive into our latest blog where we uncover how iMAP is revolutionizing the landscape for startups in India's dynamic marketplace. Click the link below to explore more: https://lnkd.in/dNpXqW2a #iMAP #AsianStartups #Empowerment #IndiaMarketplace