Kirana-Tech Startup ElasticRun Becomes India’s Latest Unicorn, Now Valued At $1.5 Billion

There’s a lot of buzz in India about e-commerce, but companies that help modernise traditional kirana stores appear to be unlocking some serious value as well. ElasticRun, a kirana-tech startup that connects businesses to kirana stores, has raised $300 million in a new funding round led by SoftBank Vision Fund II, making it India’s latest unicorn. The $1.5 billion round valued the six-year-old startup. ElasticRun has more than tripled in value in the last ten months, making it India’s sixth unicorn this year, following MamaEarth, Fractal Analytics, LEAD School, Darwinbox,…

Jio Platforms picks up 25 percentage stake in US-based tech startup TWO for $15 mn

Jio Platforms, led by RIL promoter Mukesh Ambani, has purchased a 25% stake in TWO Platforms, a deep-tech startup based in the United States, for $15 million. TWO Platforms is an artificial reality company that focuses on building interactive and immersive AI experiences. It was founded by Indian-origin computer scientist Pranav Mistry in July of last year. Its platform enables AI voice and video calls in real time, as well as digital humans, immersive environments, and life-like gaming. “We are impressed with the strong experience and capabilities of the founding…

Microsoft will step up experimentation on new features for Windows 11, even if they never get released

Microsoft is ramping up the Windows Insider programme with Windows 11. In announcing its strategy for 2022, Microsoft announced that future Insider releases will focus on “trying out different concepts” with Microsoft’s features and services. In a blog post, Windows Insider programme lead Amanda Langowski stated that the Dev Channel will be restructured as a “place to incubate new ideas.” Microsoft will now be able to work on long-lead items as well as control the states of individual features through the Dev Channel. The basic idea is to simply step…

India First tech startup conclave & awards : Witness the biggest startup event on 17th and 18th of February

The All India Council for Robotics and Automation is hosting the ‘India First tech startup conclave & awards 2022’ from February 17th to 18th with the support from Department of electronics and information technology. The event will be attended by Ministers, other government representatives, as well as several industry leaders and experts, with the primary purpose of boosting the country’s entire startup ecosystem. The event aims to provide a unique platform for young innovators, entrepreneurs, industry experts, professionals, policymakers, investors, and exhibitors to exchange innovative ideas, knowledge base, and showcase…

Senior executives leave Better.com as CEO Vishal Garg returns to his position

Better.com has been in the news. The board placed Garg on leave after his video received backlash on the internet since the viral video of CEO Vishal Garg firing over 900 employees surfaced on the Internet, . However, his hiatus was brief, and the better.com CEO returned to his post, prompting senior executives to resign. Since Garg’s return, the company has lost a number of senior executives. According to a TechCrunch report, Sarah Pierce, the executive vice president of customer experience, sales, and operations, and Emanuel Santa-Donato, the senior vice…

Headout bags $30 million funding to accelerate its expansion to 500 cities globally

Headout, a company that helps travellers find and book tours, activities, events, and other local experiences, has raised $30 million in Series B funding led by Glade Brook Capital, bringing its total funding to $42 million. Existing investors Nexus Venture Partners, FJ Labs, and 500 Startups, as well as a slew of startup CEOs and operators, including Swiggy CEO Sriharsha Majety, Postman CTO Ankit Sobti, and Pratilipi CEO Ranjeet Pratap Singh, took part in the round. In September of last year, the startup raised $12 million in funding led by…

Paytm Q3 results: Loss widens despite 34 percent growth in revenue

One97 Communications Ltd., the company behind Paytm, a digital payments service, reported a larger loss in the fourth quarter as it tries to recover from a disastrous initial public offering in November. The company reported a loss of Rs 780 crore in the December quarter, up from Rs 474 crore the previous quarter. According to a statement, revenue increased 34% from the previous quarter to Rs 1,460 crore. Paytm and its founder, Vijay Shekhar Sharma, have been attempting to get back on track following an IPO that raised $2.5 billion…

Board is yet to receive interim or final governance review report, has followed due process, says BharatPe

BharatPe said in a statement that the board has followed due process in all of its actions in the best interests of the company and that it has yet to receive an interim of the final governance review report, despite the allegations made against board members. The announcement comes after BharatPe Managing Director Ashneer Grover said in an interview with Moneycontrol that the board was pressuring him to leave the company. “We are deeply pained that the integrity of the BharatPe board or individual board members is being questioned time…

ElectriVa to set up one lakh charging points across the country

ElectiVa, a startup aiming to become India’s leading electric vehicle charging provider, plans to install one lakh charging stations across the country over the next three years. According to Sumit Dhanuka, the founder of the New Delhi-based startup, the goal is to have an ElectriVa charging point every 20 kilometres. ElectriVa recently won a contract in Delhi to install and operate 100 electric vehicle charging stations. Another 150, according to Dhanuka, are in the works. “We are going to install an electric charging point at every three km in Delhi…

Meta loses $230 billion in value in the biggest single-day crash, following Q4 earnings

The company’s and its co-financial founder’s results for the fourth quarter of 2021 have set in motion a rather dramatic chain of events. Facebook’s shares are now 25% lower than they were before Meta released the results showing a drop in daily active users. It is now being described as the largest one-day stock market crash in history. If you’re looking for figures, Meta’s market value has dropped by more than $230 billion (roughly Rs 17 lakh crore) since its earnings call. The stock market has taken a massive hit,…