Blog

We look forward to making India a $10-trillion economy, says PM Modi

  • Prime Minister Narendra Modi said his government had initiated a slew of economic and social measures that would make India the world’s third-largest economy at $10 trillion and the leader in areas such as electric vehicles and energy storage devices.
  • Modi criticised the “policy-paralysis years” of the previous United Progressive Alliance (UPA) dispensation and contrasted the period with the tenure of his government, which he claimed had succeeded in achieving the highest growth rate and the lowest inflation rate in the post-economic liberalisation era.

Read full article: business-standard.com

How government is obstructing democratisation of entrepreneurship

  • It is a matter of time before the Indian public market, too, will be dominated by companies that combine venture capital and technology.
  • On February 19, the government redefined a startup as a company that is less than 10 years old and whose turnover for any of the financial years since its incorporation hasn’t exceeded Rs 100 crore.
  • The government also gave a partial relief on what is called “angel tax”: startups will be exempt from income tax on funding of up to Rs 25 crore.
  • Also, it exempted investments made by a non-resident Indian, listed companies with a net worth of Rs 100 crore or turnover of Rs 250 crore or alternative investment companies like VCs and angel groups.
  • It put restrictions on FDI in multibrand ecommerce companies, where foreign capital is 95% of private equity and venture capital money in India.

Read full article: economictimes.indiatimes.com

Startups Weekly: Flexport, Clutter and SoftBank’s blood money

  • The report emerged during a particularly busy time for the Vision Fund, which this week led two notable VC deals in Clutter and Flexport, as well as participated in DoorDash’s $400 million round; more on all those below.
  • The round, led by Temasek and Dragoneer Investment Group, with participation from previous investors SoftBank Vision Fund, DST Global, Coatue Management, GIC, Sequoia Capital and Y Combinator, will help DoorDash compete with Uber Eats.
  • Earlier backers of the company, including Founders Fund, DST Global, Cherubic Ventures, Susa Ventures and SF Express all participated in the round.
  • Swiggy was most recently said to be valued at $3.3 billion following that billion-dollar round, which was led by Naspers and included new backers Tencent and Uber investor Coatue.
  • New backers Eastern Bell Venture Capital and PV Capital and returning investors ShunWei Capital, Xiang He Capital and MindWorks Ventures also participated.

Read full article: techcrunch.com

Introduction of 5G Would be a Game Changer for IoT

  • Introduction of 5G Would be a Game Changer for IoT
    By aamirhussain.kaki
    Otodato is a Gurgaon-based startup, serving the smart automotive segment.
  • It is a first-of-its-kind neutral automotive data aggregation platform that paves the way for new automotive value-added services, benefiting drivers, passengers, smart cities, and companies in the automotive ecosystem.
  • In an interaction with EFY bureau,  Rajan Malhotra, CEO,  Otodato shares his views about the status of IoT deployment in India, the role of government, key segments driving IoT demand, Otodato’s IoT business, its unique solutions and much more.
  • Rajan Malhotra, CEO, Otodato
    Internet of Things (IoT) was an unnamed buzzword in the era of ‘StarTrack’ and ‘Back to the Future’.

Read full article: iot.electronicsforu.com

Food Tech News: A New Snack made Using NASA Tech, Cell-Based Meat in India

  • A New Snack made Using NASA Tech, Cell-Based Meat in India
    Photo by Niketh Vellanki on Unsplash
    Happy weekend, all!
  • Before you delve into your plans of brunch or chore-doing, catch up on your weekly dose of food tech news.
  • We rounded up a few stories that caught our eye this week, from cultured meat centers to AI-powered crops.
  • Strauss develops snack “cube” using NASA technology Israeli food processing and manufacturing company, Strauss, announced this week that it has developed a using the same technology that NASA uses to make its space food ( h/t Calcalis

Read full article: thespoon.tech

MMT’s Deep Kalra invests in Dunzo; after Saudi Arabia, OYO says hello to Japan

  • Dunzo co-foundersOYO launches operations in Japan with Yahoo Japan CorporationAfter Saudi Arabia, OYO Hotels and Homes announced the launch of its operations in Japan through a joint venture with Yahoo Japan Corporation (Yahoo! JAPAN).
  • With this, OYO plans to bring OYO Living, its housing rental product from India, to Japan as OYO LIFE from March this year.
  • The hospitality chain has also appointed Hiro Katsuse, Japanese entrepreneur and former Japan market leader for Handy and Booking.com, as the CEO of OYO Technology & Hospitality Company.
  • Startup Runway will enable startups to conduct market trials with government buyers, seek time-bound feedback and gain realistic product and price comparison and market valuation from potential buyers and investors.

Read full article: yourstory.com

India needs radical solutions in transport – Times of India

  • Indian cities need radical solutions in transportation, which can be adopted by the masses and the country presents a great opportunity for companies trying to solve the problem across the world, as infrastructure falls way behind demand.
  • Infrastructure is always behind the needs,” said Nandan Nilekani , former chief of Unique Identification Authority of India and co-founder of Infosys, at The Global Business Summit 2019.
  • If you can get from a city centre to city centre in a pod in 30 minutes, it fundamentally changes the way you think about travelling,” said Walter, adding that travelling will be as comfortable as going on a plane.
  • In aviation, a helicopter is hard to fly because we are using 1950s technology to control,” said Thrun, adding, his company sometimes trains as many as 50 pilots a day.

Read full article: timesofindia.indiatimes.com

Logistics, Alt Lending Lead B2B Startup Funding | PYMNTS.com

  • FinTechs that landed new funding include a firm targeting friction in B2B payments in the construction space, alternative small business lenders and a company helping accountants guide their SMB clients toward capital.
  • Mambu
    Germany-based Mambu announced $34 million in new funding for its banking Software-as-a-Service solution, the company revealed.
  • Capitalise
    Capitalise has announced a $4.6 million Series A funding round for its platform, which enables small business accountants to access analytics and resources to enhance their advisory services for small business clients.
  • Eastern Bell Venture Capital, PV Capital, Shunwei Capital, Xiang He Capital and MindWorks Ventures all joined the investment, which will be used to expand both geographically and operationally by introducing new services, like financing packages to help drivers, reports said.
  • The company, based in India, operates an online loan platform targeting small and medium-sized businesses through partnerships with banks and non-bank financial companies.

Read full article: pymnts.com