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PW to enter K-12👩🏻🏫, Park funds in Indian banks: Blume🏦, 'Negative List'📃
PhysicsWallah to enter K-12 segment, Park funds in well-capitalized Indian banks: Blume Ventures, 'Negative List': IT MoS, Funding Deals and more.
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PhysicsWallah developing products to enter K-12 segment👩🏻🏫
Edtech company PhysicsWallah is working towards entering the K-12 segment next year with digital learning products that would be made available through both online and offline channels.
PhysicsWallah plans to market its courses through physical bookstores and stationery shops to reduce the marketing overheads, one of the people said.
Physicswallah’s product is going to be based on various forms of storytelling, unlike Byju’s product which is heavy on animation, hence is expensive.
Park funds in well-capitalized Indian banks, Blume Ventures to portfolio firms🏦
Early-stage startup investor Blume Ventures has sought its portfolio companies headquartered abroad to hold well-capitalized bank accounts in India after the failure of Silicon Valley Bank.
To further diversify banking risk, Blume’s portfolio companies will now be asked to maintain multiple accounts to park funds and invest money in term deposits to the extent there is insurance cover, Bloomberg cited partner Ashish Fafadia as saying.
He further said that the venture capital firm would actively discourage startups from investing in any money market instruments with durations longer than three to six months.
EV charging startup Charge+Zone has raised $54 million in its Series A1 funding round, comprising debt and equity led by BlueOrchard Finance.
Sukino Healthcare Solutions has raised Rs 50 crore in a Series A private equity investment round from Stakeboat Capital.
'Negative list' for data transfer in works: IT MoS📃
The Centre is likely to notify a "negative list" of countries to which data pertaining to Indian users cannot be transferred, the minister of state for electronics and IT, Rajeev Chandrasekhar told.
This change is being mooted in the upcoming draft of the Digital Personal Data Protection Bill (DPDPB), 2022. As a result, the cross-border data flow will be enabled across all countries “by default” unless a nation is on the negative list.
"The government will have the right to restrict certain geographies and will decide the criteria for restriction criteria," Chandrasekhar said.
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