July is here and things seem to be going on a mellow track for the startup ecosystem.
Last week made the funding crunch in the ecosystem evident, with bigger players like Grofers firing almost 10 percent of their staff, and senior executives from Helion Ventures moving on, with talks of the fund drying up.
With this week seeing barely any movements, it leaves us thinking about whether this is the proverbial calm before the storm, or a run-of-the-mill development considering the dynamic nature of startups.
With speculations on personnel movement rising, here are the ones from this week that caught our attention:
Pune-based EarlySalary.com yesterday announced the appointment of Vimal Saboo as the company's Chief Business Officer (CBO).
A chartered accountant, Vimal comes with 18 years of experience in the banking and credit domain. At EarlySalary.com, he will focus on building the credit risk profiling system and spearhead credit risk, underwriting and operations.
EarlySalary.com plans to build real-time credit approval engines and loan approval systems.
After news of Jabong CPO Saurabh Goel quitting the company, media reports have emerged that the company’s CEO Sanjeev Mohanty might be next in line to quit the online fashion marketplace.
As Jabong undergoes discussions to find a buyer, Sanjeev Mohanty is speculated to be named the new India head of denim giant Levi's. The firm has been looking for a new director ever since Sanjay Purohit left to join private equity firm Samara Capital.
In the past, Sanjeev has worked with Benetton for 11 years, and has also led some of Madura Fashion & Lifestyle’s key brands.
On Wednesday, the news came out that Infosys co-founder S Gopalakrishnan (popularly known as 'Kris' Gopalakrishnan) was appointed the first chairman of CrAdLE, a startup incubator set up by the Entrepreneurship Development Institute of India in Ahmedabad.
Focused on sectors of manufacturing, food and agri-business, renewable energy, and healthcare, the startup is all set to mentor 10 incubatees each year, aiming to get nearly 30–40 ventures by the end of three years.
In other mentions, today, the Anil Ambani-led Reliance Group has appointed Juergen Hase CEO of its Internet of Things (IoT) business. In its partnership with IoT platform Jasper (acquired by Cisco), the Reliance Group has piloted several projects, including smart grid management, to decrease distribution losses and demand side management to help consumers lower their energy bills for Reliance Energy.
While movements seem few and far between this week, it will be interesting to see how this month will pan out in terms of HR shuffles.
Tarush is driven towards delivering unbiased and accurate reportage while engaging with as many mediums as possible to narrate a fresh perspective. Working for the past few years in the digital space with YourStory, he has covered the Indian technology ecosystem extensively, focusing on new age Fintech companies, while building strong connects within the industry.