Realme India CEO Madhav Sheth has explicitly said that Realme is an INDIAN startup. In his latest episode of Ask Madhav series on YouTube, Sheth quelled the concerns of the company’s fans who have been inquisitive about the company’s history and whether it belongs to China. “I can proudly say Realme is an Indian startup, which is now a global MNC (multinational corporation),” said Sheth while replying to the question whether Realme is an Indian brand. “Realme is among the top seven smartphone brands in the world,” he added…
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Founders, VCs Recount Journey With Qyuki’s Samir Bangara Through Heartfelt Tributes !!
Samir Bangara, the co-founder and chief executive of digital music platform Qyuki Digital Media, passed away on Sunday morning following a motorcycle accident. The 46-year-old, in a career spanning over two decades, held roles across a functions & organisations, including as venture capital investor, investment banker, CXO-level positions and as an entrepreneur. A motorcycling enthusiast Bangara was riding a BMW S 1000 RR bike to Charoti in Dahanu from Mumbai when the accident took place. He was riding alone. After completing his commerce and finance graduation from the University of…
Read MoreStartups may have to be ‘Atmanirbhar’, govt stimulus may not help !!
BENGALURU: A large number of early to mid-stage startups are unlikely to be able to qualify for the cabinet approved Rs 3 lakh crore emergency credit line even when they are registered as an MSME. According to entrepreneurs and investors, a startup needs to have existing debt on its books to qualify for this loan facility from the government. Venture-debt, a popular instrument used by startups, and shareholder loans, won’t make the cut as debt for startups. Profitability is another angle that is making startups anxious about their chances to…
Read MoreImpact Of COVID-19 On Startup Funding: How To Raise Capital During a Crisis?
The COVID-19 pandemic will have a far-reaching and long-lasting impact on the global economy. Even though lockdown restricts have now been eased in several countries, financial markets are likely to take a long time to recover from the covid-19-triggered crisis. As reported by the International Monetary Fund, this is the worst economic downturn since the Great Depression, projecting a humongous loss worth $9 trillion in global gross domestic product over the next 2-years. These are challenging times for businesses, even more so for startups that operate with razor-thin margins. Besides…
Read More4 Ways Startups Can Prepare to Survive Economic Tumult !!
The world is in a state of unprecedented tumult. Businesses and governments around the globe have been shaken to their cores by the Covid-19. This crisis has forced companies to ask their employees to work from home for their safety and improved productivity. 1. Flexibility for the way people work Around the world, the majority of large corporations still operate on inflexible, conservative management structures that care more about how long people are in the office than how productive they can be. The fear of being wrong or arriving late,…
Read MoreNinjacart Helps the Needy With Subsidized Fresh Produce !!
Ninjacart, a Bengaluru-based fresh produce supply chain start-up, has provisioned essential fruits and vegetables to orphanages, old-age homes and slum areas, at subsidized rates, in the wake of the Coronavirus outbreak-enforced lockdown in India. In order to service the slum areas and orphanages, the company said it is willing to partner with non-governmental organizations and similar institutions across Bengaluru, Chennai, Hyderabad, Mumbai, Delhi-NCR, Pune and Ahmedabad. “Ninjacart has always strived towards changing the way fruits and vegetables reach our plates, along with enhancing the income of farmers, convenience of retailers…
Read MorePoS Startup Innoviti Chases Profitability After Raising Series C !!
Bengaluru-based digital payments solutions startup Innoviti has raised an undisclosed amount in Series C funding from Netherlands-based FMO-Entrepreneurial Development Bank, along with existing investor US-based Bessemer Venture Partners. Rajeev Agrawal, CEO of Innoviti Payments, told Moneycontrol that this may be company’s last funding round as it plans to generate cash from its books within 6-8 months. He also said that the company may only consider another fundraise if there’s an opportunity for acquisition or inorganic growth. The latest round is said to be all primary capital and had no secondary…
Read MoreVoice assistant to help you shop on Flipkart !!
Homegrown retailer Flipkart on Tuesday introduced voice assistant capability on its platform to make consumer’s e-commerce journey simpler and more natural. Introduced in Flipkart’s grocery store Supermart, the voice assistant will enable consumers to discover and buy products easily using voice commands in multiple languages, starting with Hindi and English, said the company. “The technology team at Flipkart travelled across the country to understand the various contours of building a voice capability and fine-tuned it to identify and respond to the different variations in Indian languages,” Jeyandran Venugopal, Chief Product…
Read MoreL&T Heavy Engineering delivers 1,250 MT-Cryostat to French Nuclear Fusion Project Amid Lockdown !!
L&T Heavy Engineering has announced that its 1,250 MT-Cryostat base, the single largest section of the world’s largest nuclear fusion reactor, was successfully lifted and placed into a reactor building in France, accomplishing a major milestone in the nuclear engineering world. Assembly tools of cryostat were delivered during the lockdown by Larsen & Toubro. The cryostat forms the vacuum-tight container surrounding the reactor vacuum vessel and the superconducting magnets and acts essentially as a very large refrigerator. The reactor base, the single largest and heaviest Tokamak component of the world’s largest…
Read MoreStartups Can Now Offer ESOPs For Up To 10 Years Under New MCA Definition !!
The ministry of corporate affairs (MCA), on Friday (June 5), announced that the Companies (Share Capital and Debenture) Amendment Rules of 2020, under which the government has Extended the employee stock ownership plans (ESOPs), changed definition of startups and also made some regulatory changes in share capital requirement. Under the latest amendment the ministry of corporate affairs has also notified that startups can now offer sweat equity of up to 15% of their paid-up share capital. Besides this, the ministry has decided to change the definition of startups to be…
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