Zerodha allocates Rs 1,000 Cr more for startups💰
Zerodha allocates Rs 1,000 Cr more for startups💰
Start your day, the smart way! Latest tech updates, startup insights, and a dose of inspiration. 2-min is all it takes!
Hi Everyone👋🏻,
Welcome to the newsletter! You'll find the newest tech updates, startup insights, and inspiration here.
Get ready to start your day the smart way!
If you've already joined, invite your peers to join as well!
Let's embark on this journey to knowledge and growth together!
Tech Updates
Zerodha allocates Rs 1,000 crore more to back startups via Rainmatter
Zerodha, India's largest stockbroker, has allocated an additional Rs 1,000 crore towards its startup accelerator fund Rainmatter to support firms in the financial technology space.
Ola revenue doubles in FY22, but losses widen 36% to Rs 1,522 crore
Ride-hailing company Ola said consolidated revenue for the year ended March 2022 more than doubled from pandemic days, but its losses also rose by over a third. Meanwhile, Ola Electric posted an operating revenue of Rs 373.42 crore in FY22, against Rs 86 lakh in the year-ago period.
Metaverse could reach up to $900 billion by 2030: Bain & Company report
Companies engaging in the metaverse’s early stages of development, known as the “seed stage”, over the next five to 10 years, are more likely to become the market winners.
28% GST on real money games forcing consolidations, shutdowns
The aftereffects of the 28% GST imposed on online gaming at full face value, to be effective from October, are starting to surface. Industry stakeholders expect layoffs, valuation cuts and more.
Antler India launches ONDC-focused platform for founders
Early-stage venture capital firm Antler India unveiled a platform to support and fund founders working with the government-backed Open Network for Digital Commerce (ONDC).
Disney+ Hotstar lost 12.5 million subscribers in the biggest drop
Disney’s streaming service in India, Disney+ Hotstar, reported its biggest quarterly subscriber drop, with a loss of over 12 million paid subscribers in the April-June quarter.
Funding Deals
Electric vehicle fleet-as-a-service platform Bluwheelz has secured $500,000 in a seed funding round led by Faad Network. The round also saw participation of Lets Venture and other investors.
Bengaluru-based gaming startup MetaShot has raised $400K in a pre-seed round led by Inflection Point Ventures. The round also saw participation from an early-stage gaming focussed fund and prominent angels including founders of Dineout – Ankit Mehrotra, Sahil Jain and Khalid Qazi, among others.
Tweet of the day🐥
“Just because they disagree, doesn't mean you ain't right.”
- Toba Beta
Have a great day!
Please share your thoughts on this by clicking on the link below.