Latest startup funding report of 2019; Ola's ride to profitability
This year, there were a lot of hurdles for the Indian startup ecosystem. From the uncertainty of the General Elections to regulatory roadblocks and an economic slowdown, we went through a lot. But, the good news is that these factors did not lead to a drying up in funding.
According to YourStory Research, the research arm of YourStory Media, homegrown Indian startups raised $7.67 billion in the nine months ended September 30, 2019, down slightly by around four percent from $8 billion in the same period in 2018. When it came to the number of deals, funding deals between January and September 2019 were just three deals short from the same period last year.
You can download the YourStory Research's report on nine-month 2019 funding trends in the Indian startup ecosystem here.
Every Ola trip in India today is profitable as its India business operationally broke even in July 2018. While the overall business isn’t profitable yet, Ola’s RoC filings are optimistic – revenues have been doubling and losses have halved.
IIT Delhi has already garnered Rs 250 crore with contribution from its alumni, including Flipkart founders Sachin and Binny Bansal, and Udaan co-founder Sujeet Kumar. This endowment fund will be driven by alumni of IIT Delhi and was formally inaugurated by President of India Ram Nath Kovind.
Shirin Merchant is a canine behaviourist, dog trainer, and Founder of Canine Can Care. She trains dogs not with intimidation and force but by understanding their behaviour and with compassion.
In this episode of the 100X Entrepreneur podcast, Shalini Prakash, Co-founder of Epic.one and former Venture Partner of 500 Startups, talks about her journey as an investor and an entrepreneur, her habits, and much more.
The parent company of ShareChat, Mohalla Tech Private Ltd, posted a loss of Rs 415 crore in FY19, 12 times more than the loss amount of Rs 33.8 crore in FY 18. The increase in loss comes on the backdrop of an increase in revenue of Rs 25.8 crore in the same financial year compared to the paltry revenue of Rs 1.7 crore in FY18.
Radhika Joshi, the Founder of The Second Chance Project, is using creative interventions to spread awareness about organ donation in India. The initiative has partnered with 10 other organisations, sensitised more than 900 individuals, and registered 100 donors till now.
Ecommerce platform ShopClues has announced a merger with Singapore-based Qoo10. This partnership presents new strategic opportunities for both companies, opening up cross border opportunities for consumers and sellers across Asia.