Trending Startup’s News – 8 Aug 2023

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iAngels Launches Rs 100 Crore Fund to Fuel Growth of Southern Indian Startups

iAngels, a leading angel investment network in India, has launched a new fund of Rs 100 crore to fuel the growth of southern Indian startups. The fund, called iAngels South India Fund, will focus on early-stage startups in the technology, healthcare, and consumer sectors.

Meesho posts first-ever profit plans IPO in 12-18 months

Meesho, the social commerce platform, has posted its first-ever profit. The company, which is backed by SoftBank and Sequoia Capital, said that it had a net profit of $1 million in the quarter ended December 2022.

Enterprise skilling firm Disprz raises $30 Mn in Series C round

Disprz, an enterprise skilling firm, has raised $30 million in a Series C round of funding led by Lumos Capital and 360 ONE Asset (IIFL). The round also saw participation from existing investors Kae Capital, KOIS, and Dallas Venture Capital.

DigitalPersonalData Protection Bill, 2023 Clears Lok Sabha Hurdle Amidst Government’s Firm Stance on Exemptions

The Digital Personal Data Protection Bill, 2023, cleared the Lok Sabha hurdle on Wednesday, with the government maintaining a firm stance on exemptions for certain government agencies and critical services.

Harmony Organics Secures Rs 225 Crore Funding from Piramal Alternatives

Harmony Organics, a leading manufacturer of specialty chemicals, has secured Rs 225 crore in funding from Piramal Alternatives. The funding will be used to expand Harmony Organics’ production capacity and to invest in new product development.

Waaree Group Receives Massive Rs 1,000 Crore Funding Boost Led by ValueQuest

Waaree Group, a leading solar module manufacturer in India, has received a massive Rs 1,000 crore funding boost led by ValueQuest. The funding will be used to expand Waaree Group’s solar module manufacturing capacity and to invest in new product development.

Qoruz Secures Undisclosed Funding to Elevate Influencer Marketing Capabilities

Qoruz, an influencer marketing platform, has secured undisclosed funding to elevate its capabilities. The funding will be used to expand Qoruz’s team, develop new features, and grow its global reach.

Key Departures at Freshworks: CHRO Suman Gopalan and CMO Stacey Epstein Step Down

Freshworks, a customer relationship management (CRM) software company, has announced that two of its key executives, Suman Gopalan and Stacey Epstein, are stepping down.

Expertrons Secures Funding and Acqui-hires Foxmula – The Smart Way to Expand Career and Tech Upskilling Services

Expertrons, a leading enterprise upskilling platform, has secured funding and acqui-hired Foxmula, a leading provider of video-based learning solutions. The funding will be used to expand Expertrons’ product offerings and to grow its global reach.

PM Modi Unveils Repository Portal Celebrating Indian Textiles and Crafts on National Handloom Day

Prime Minister Narendra Modi on Monday unveiled a repository portal celebrating Indian textiles and crafts on National Handloom Day. The portal, called “Bhartiya Vastra evam Shilpa Kosh”, was launched at an event in New Delhi.

Centre lauds Kerala govt’s proactive role in promoting startup ecosystem

The central government has lauded the Kerala government’s proactive role in promoting the startup ecosystem. The Union Minister of Electronics and Information Technology, Ashwini Vaishnaw, made the remarks during a visit to the state on Tuesday.

Vijay Shekhar Sharma to buy 10% Paytm stake from Ant Financial in a no-cash deal

Vijay Shekhar Sharma, the founder and CEO of Paytm, is set to buy a 10% stake in the company from Ant Financial in a no-cash deal. The deal is reportedly worth $2.5 billion.

Accel unveils SeedToScale 2.0

Accel, a leading venture capital firm, has unveiled SeedToScale 2.0, an initiative to support early-stage startups in India and Southeast Asia. The initiative will provide startups with up to $2 million in funding, as well as access to Accel’s network of mentors and advisors.

Data Protection bill to enable easier cross-border data transfer, act as an enabler for startups: experts

The proposed Data Protection bill, which is currently being debated in the Indian Parliament, is expected to enable easier cross-border data transfer and act as an enabler for startups.

Article By CA Pankaj Dara

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