The Economic Times Startup Awards 2024
ETSA 2024: The jury will select the winners on September 11: A high-level jury headed by Infosys co-founder and President Nandan Nilekani to meet on September 11 in Bengaluru to select the winners of the 10th edition of The Economic Times Startup Awards (ETSA) 2024, India’s most coveted recognition for entrepreneurial excellence.
Read also: ET Startup Awards 2024: Jury seeks resilient innovators and impactful business models
Bootstrap Champ Nominees: The Bootstrap champion will have Demonstrated the ability to gain customers and generate revenue. For at least a year. It should have the potential to scale into a big company.
And the nominees are…
- Boult’s audio
- Sky Jumper
- percent
- Crew scale
- Guarantors
Nominated for Best Innovator: The award will recognize Innovations that launch a business or give it a big boostIt must be an original idea that is fundamental to the business or that provides the differentiation that sets it apart from the competition.
And the nominees are…
- Agnit Semiconductors
- Innovations in Voxelgrids
- SatSure Analysis
- Ethereal machines
- Brainsight Artificial Intelligence (AI)
This week’s top stories
ETtech Exclusive: Nykaa sues Asthana, former CEO of Tata Cliq and current CEO of CBO, for breach of contract: Beauty and fashion retailer Nykaa has sued its former commercial director Gopal Asthanawho now runs Tata Digital’s fashion business Tata Cliq, accusing him of breaching confidentiality, misappropriating sensitive data and trying to damage its business.
Zepto in talks with investment banks for a possible IPO next year: Fast-trading company Zepto, which raised nearly $1 billion from private investors in the past two months, Has started active discussions with top Wall Street bankers including Morgan Stanley and Goldman Sachs for an initial public offering, two people familiar with the matter said.
Rapido raises $200M in funding led by WestBridge; valuation reaches $1.1B: Mobility startup Rapido has raised 200 million dollars in a funding round led by existing investor WestBridge Capital, jumping into the unicorn club of private companies with a valuation of $1.1 billion.
Hornbill Orchid in talks to lead PhysicsWallah’s $150M funding at a $2.8B valuation: PhysicsWallah is in the final stages of Closing a $150 million funding round led by Asian hedge fund Hornbill Orchid which will value the Noida-based edtech unicorn at $2.8 billion, more than 150% higher than its previous valuation, people briefed on the developments said.
Payments cos delivered GST invoice for transactions below Rs 2,000: Large payment aggregators like BillDesk and CCAvenue have received notices from the Goods and Services Tax (GST) authorities, demanding GST on the fee they charged merchants for Processing digital transactions under Rs 2,000“three people familiar with the matter told ET.
ET Global Leaders Forum | ‘India’s ability to overcome legacy technology is a major advantage in the emerging era of AI’: India is ready for Becoming the world’s center of technological innovationas the country’s entrepreneurs benefit from the increasing flow of global and domestic capital for startups, top startup and technology leaders said at the Economic Times Global Leaders Forum on August 31.
Quick trading updates
Cash-rich fast-trading companies rush to snap up dark store sites and staff amid rapid growth: Fast-paced trading is red-hot and a new battle is unfolding on two fronts as companies, which benefited from recent fundraisings at high valuations, scramble to expand their operations. There is a rush to open dark storesand an accompanying struggle to find the staff needed to manage the expanding infrastructure and supply chain.
Swiggy’s operating revenue rises 36% in FY24, losses decline 44%: Food and grocery delivery company to public markets Swiggy has reported a 36% year-on-year increase in its operating revenue for fiscal year 24 at Rs 11,247 crore, driven by strong growth in its fast-commerce vertical Instamart and its out-of-home business.
BigBasket’s B2C unit reports 6% FY24 revenue growth, reduces losses by 17%: Innovative Retail Concepts Pvt Ltd, which runs the business-to-consumer (B2C) unit of online grocery and fast-commerce company BigBasket, recorded a modest 6% year-on-year growth in its operating income for fiscal year 24 to Rs 7,885 crore, although cost control narrowed its net loss.
The corner of financial technology
Payment apps open pilots to benefit from NPCI’s new UPI Circle: Delegated payments on the Unified Payments Interface (UPI), where a user can Allow your children or others to make transactions from your UPI linked account – is the next big bet for all major payment apps looking to attract new users.
P2P investors take to social media to voice their disapproval of RBI’s new rules: The regulatory update on peer-to-peer lending guidelines issued by the Reserve Bank of India in August has It began to show its impact in the fintech sectorSeveral apps that used the P2P route for investing and lending to their customers are discontinuing these services or restructuring the product.
Flipkart’s Arief Mohamad to join Angel One as Chief Business Officer: Mumbai-based stockbroking company Angel One is set to appoint Arief Mohamad as its new commercial director“Mohamed has already filed his paperwork at Flipkart, where he headed the fashion business,” the second person added.
Read also | How ULI and OCEN will redefine access to credit for small businesses and rural borrowers
The computer corner
Infosys sends out joining dates to April 2022 freshers after delays: After a wait of more than two years, more than 1,000 engineering graduates waiting for recruitment have received emails from Infosys on Monday confirming the incorporation date as October 7.
Focus on margins drives Indian IT companies away from outsourcers: The leader of India IT companies have reduced their outsourcing costs —or spending on high-cost temporary labor—to multi-year lows, driven by an increased focus on margins, cost optimization and improving internal capabilities.
HCLTech and Wipro see rise in discretionary spending in BFSI sector: Two of India’s top four IT companies, HCLTech and Wipro, are Seeing an increase in discretionary spending in bankingfinancial services and insurance (BFSI) compared to a few months ago, a pleasant surprise for the IT industry.
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