Pet food and nutrition brand Lickicious has raised Rs 19 crore through a combination of equity and institutional debt, as it looks to scale its annual revenue to Rs 100 crore and expand into a broader, multi-category and omnichannel business. Lickicious, operated by Nuvexo Wellness Pvt Ltd, counts Prath Ventures as its lead institutional investor. … Read more
With a little help from BlackRock, the world’s largest asset manager, IPO-bound Udaan has struck a deal with a string of offshore lenders to avoid bankruptcy. Earlier this week, the internet commerce company reached an agreement to restructure its debt with its shareholders and global creditors who had initiated insolvency proceedings in the Singapore High … Read more
The government has expanded the criteria for recognising entities as startups by doubling the turnover threshold to Rs 200 crore, while also introducing a new recognition category for ‘Deep Tech Startups’, aimed at supporting high-technology and research-driven enterprises.The move is part of broader efforts to align policy support with the evolving nature of India’s startup … Read more
Zerodha co-founder Nikhil Kamath and Future Group co-founder Kishore Biyani have come together to introduce The Foundery, a residential business launchpad designed to back early-stage startups. The programme, aimed at helping Indian startups to gain momentum, promises to turn aspiring entrepreneurs into co-founders of funded, launch-ready businesses within three months. The Foundery is a 90-day … Read more
Rural fintech firm Navadhan has raised $5 million (about ₹40 crore) in a pre-Series A round led by Prime Venture Partners. Existing investors Gemba Capital and Varanium NexGen Fintech Fund also participated. The new funds will be used to enhance the company’s AceN tech platform, which connects small, rural businesses with NBFCs and banks, and … Read more
One way to see how private companies are faring is to look at secondary exchanges. The fallen giants are led by former fintech darling Plaid, which has plunged almost 80% in 2023. Buyers who had been sitting on the sidelines are eager to snap up bargains in battered startups. While investors can measure the value … Read more
Ankur Nagpal started his first company Teachable in 2013. He enjoyed running Teachable at first, but after he sold it, he was left feeling burned out. Nagpal thought he would never start another company again — until he founded Ocho Wealth. This as-told-to essay is based on a conversation with Ankur Nagpal, 34, who founded … Read more
SVB Financial Group’s efforts to raise money have failed and the troubled bank was in talks to sell itself, CNBC reported on Friday, as a crisis at the tech-heavy lender rippled through global markets and hit banking stocks. Shares of SVB Financial Group were halted on Friday after tumbling 66% in premarket trading. SVB, which … Read more
London-based fintech Revolut posted its first annual profit for the year ending 2021. The neo-bank almost tripled its revenue in 2021 amid a boom in cryptocurrency trading. Despite repeatedly missing reporting deadlines, Revolut could soon cinch a UK banking license. Revolut, the London-based fintech firm, has posted its first annual profit after missing multiple deadlines … Read more