Square Yards, a proptech platform, has begun work on its initial public offering (IPO), through which the company may raise 1,000 crore or more, joining several other technology companies planning to list, according to two people aware of the development. Square Yards is a real estate and mortgage integrated platform that is expanding its business through international operations in the UAE, the rest of West Asia, Australia, and Canada. Its platform encompasses the entire real-estate journey, from search and discovery to transactions, home loans, interiors, rentals, property management, and after-sales…
Read MoreAuthor: FutureTech
CES 2022 will cut short its program due to covid scare
The CES 2022 programme will be cut short due to covid concerns. According to reports, the organisers have decided to cancel the final day of its 2022 technology conference in Las Vegas. The show’s organisers have announced that the schedule has been cut short as an extra precaution due to an increase in Covid cases. The CES 2022 will now end on January 7, 2022. Amazon, Facebook, Google, Microsoft, and other major technology companies had already withdrawn from the CES 2022. The companies had agreed to participate in the tech…
Read MorePlix raises $5mn in series A from Guild Capital and RPSG Capital Ventures
Plix, a clean plant-based nutrition brand for daily wellness and strength, announced a $5 million Series A funding round led by Guild Capital and RPSG Capital Ventures. The funds will be used to launch products in the nutraceuticals segment that address critical health concerns. Over 85 SKUs are scheduled to be released in the next 12 months. In addition, the company is looking to hire new senior leadership talent, strengthen their R&D team, and enter new markets. The global wellness market is estimated to be worth $1.5 trillion, with India…
Read MoreEsportsXO raises $1.1 Mn in a seed round
We Founder Circle led a $1.1 million seed round for gaming startup EsportsXO, which was followed by Wami Capital, SOSV, Mumbai Angels Network, SucSEED Indovation Fund, Eximius Ventures, and FAAD Network. Before raising the first investor round, the founding team of Vikas Goel, Utsav Umang, and Rohit Raj invested $200K. EsportsXO intends to invest the funds in tech and non-tech talent acquisition, as well as increase marketing and operational activities. EsportsXO, which launched in 2020, is a tournament discovery platform for gamers and gaming enthusiasts with the goal of creating…
Read MoreOla’s dream of world’s biggest e-scooter factory has hit a snag.
Ola Electric Mobility Pvt., the Indian startup that has pledged to build the world’s largest electric scooter factory, distributed a handful of brightly coloured bikes earlier this month, complete with drummers and a saxophonist to commemorate the occasion. Founder Bhavish Aggarwal came to thank the 100 customers who brought family and friends. But, aside from the colourful proceedings, Ola isn’t living up to its lofty ambitions. According to people familiar with the company’s operations who asked not to be identified because the information isn’t public, mass production of its e-scooters…
Read MoreIndian startups clocked $9.5 Mn in 2021
Indian startups clocked $9.5 billion, or approximately Rs 70,600 crore, in 2021, adding to the industry’s achievements in what was a watershed year for the ecosystem. Exits, whether partial or complete, by existing investors of startups via initial public offerings (IPOs), mergers and acquisitions (M&As), and secondary share sales increased nearly eightfold this year through December 10 from $1.2 billion, or about Rs 8,900 crore, in 2020, according to data from Venture Intelligence, which tracks startup deals data. Except for the Walmart-Flipkart deal in 2018, this is the highest number…
Read MoreTelegram gets few new features
The messaging app Telegram released a slew of new features. Telegram lacks an iMessage-like reaction feature as well as an intriguing feature that allows you to hide parts of a text. Spoiler is the name of the feature. Another significant feature of the messaging app is the message translation feature, which is clearly a first in a messaging app. Message translation is not available in any other messaging app, including WhatsApp and Signal. Message Reactions Telegram users will now be able to react to messages using emojis. The feature is…
Read MoreChina ride-hailing giant Didi sees losses deepen after crackdown
Didi Global, China’s largest ride-hailing company, has seen its losses increase after Beijing ordered online stores not to sell the company’s app. The company reported an operating loss of $6.3 billion (£4.7 billion) for the first nine months of the year, as revenues in China fell by 5% in the third quarter. The Chinese crackdown came just days after Didi debuted on the New York Stock Exchange at the end of June. It announced this month that it will relocate its share listing from the United States to Hong Kong….
Read MoreIT Minister Welcomes Intel To Make Chips In India
Ashwini Vaishnaw, Indian Union Minister for Electronics and Information Technology, welcomed Intel after Intel Foundry Services president, in a tweet, congratulated the minister on the nation’s effort to encourage semiconductor design and manufacturing in India. To those who are unaware, the Union Cabinet, led by Prime Minister Narendra Modi, approved a budget of Rs 76,000 crores earlier this month to provide incentives to companies designing and manufacturing semiconductor chips in India. Vaishnaw’s response was to Intel’s Foundry Services president, Randhir Thakur, who said via a tweet, “Congrats to @GoI_MeitY @AshwiniVaishnaw…
Read MoreGerman mobility startup Vay raises US$95 million
Vay, a German mobility startup, announced on Tuesday that it had raised US$95 million from investors including Kinnevik, Coatue, and Eurazeo in preparation for the launch of its first car-rental service in Hamburg next year. A customer could use a mobile app to reserve an electric car, which would be delivered to the pick-up location by a driver who would steer the vehicle remotely. The customer can then drive it normally, while the remote operator switches to steering a different vehicle. While many companies are testing driverless cars with expensive…
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