Vanguard cuts Ola's valuation by more than 50%🚕
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Tech Updates
US investment firm Vanguard cuts Ola's valuation further to $3.5 bn
This is over 50% lesser than Ola’s peak valuation of $7.3 billion, which was ascribed to it during its last fundraise in December 2021.
Freshworks reports 19% jump in revenues, expects $28 million adjusted operating profit for 2023
Nasdaq-listed software as a service (SaaS) company Freshworks on Tuesday reported that its revenue had increased 19% to $145.1 million for the quarter ended June
Tata Cliq parent’s net losses rise 16% in fiscal 2022-23
Tata Cliq — which exited certain electronics categories last year — is bleeding money. According to the latest regulatory disclosures, its parent entity Tata UniStore Ltd posted a 16% increase in net loss, at Rs 874.7 crore, for fiscal 2022-23.
PayU India may soon go for a public listing
Prosus-backed payments firm PayU is eyeing a public listing of its India business, and has begun preparations for the same. Prosus wants to make its credit business a cornerstone of its public listing story.
Microsoft appoints Puneet Chandok to lead India operations
Tech major Microsoft has appointed Amazon Web Services’ Puneet Chandok as its corporate vice president for India and South Asia, effective September 1, 2023.
World’s biggest market for sub-$100 million IPOs booms in India
Indian markets hosted 92 public listings of companies offering less than $100 million in stock sales this year, with investors turning to smaller offerings after losing money on bigger offerings like Paytm and LIC.
UPI monthly transaction volumes near 10 Bn in July
Unified Payments Interface (UPI) has registered close to 10 billion (9.96 billion) transactions worth Rs 15.34 lakh crore (Rs 15.34 trillion) in July, a slight increase over the previous month.
Funding Deals
Unstop, a community engagement and hiring platform for students and graduates, on Tuesday said it has raised $5 million from Japan-based human resources firm Mynavi, online education provider Coursera and others.
Doorstep diesel delivery firm The Fuel Delivery (TFD) has raised $2 million from Singapore-based Drake Trade and Investment Pte. Ltd.
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