Startup Updates

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Being from the startup fraternity, let’s keep others posted on the latest news on startups, celebrate fundraises [I am not going into detail as to why we shouldn’t celebrate], or anything related to startups.

Let me begin with the good news about Dunzo’s fundraise [DD has been successfully completed, with only some cosmetics remaining]. Employees who have not received their paychecks since July can now rejoice.

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This is a great initiative. Thanks for making this thread @kingzeusvj :party_parrot:
Hope we got folks who follow startups to keep this thread running!

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The funding will come with more layoffs for cost cutting and rationalisation. Hence, it will take time for the dust to settle.

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Thanks @Shawnpinto. This is only an initiative, but its success or failure is dependent on group effort. @yagnesh01 @DigitaL @Surojit_Ghosh @razack @Aswin_Benny Your contributions to this thread are important, and they will only help it succeed.

Thanks @yagnesh01 for your inputs. Appreciated.

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Captable after the Reliance round Source: The Ken

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  • I would appreciate response or there may be news from other community members too. *
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Some good news. 3 startups were able to raise funds. Source - ET

Oyo is confident of posting a PAT in this quarter- Source ET

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India now has more than 1 lakh start-ups:

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  • According to the data by Prakash, 26,522 new startups were registered in 2022 under the Startup India initiative by the government, up by 32.6 per cent from 19,989 startup registrations in 2021.
  • In another report shared by Rao Inderjeet Singh, MoS Corporate Affairs, there are more than 3,000 fintech startups registered by the DPIIT.
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During today’s town hall, Epifi’s Sujit Narayan stated that they have a two-year runway and that they will have to lay off 30 employees as well as make salary cuts for senior members.

Source - Discussed at Epifi’s townhall on the 27th.

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Neobank Fi lays off 10% of workforce

https://entrackr.com/2023/09/neobank-fi-lays-off-10-of-workforce/

:slightly_frowning_face:

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Can see Fi on the list

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That’s some serious competition to Starbucks.

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In India, ThirdWave is a serious competitor to the second wave [Starbucks].

Interesting nugget - The Differences Between 1st, 2nd, and 3rd Wave Coffee.

But I still think Pret a Manger might be a game changer.

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Cred has dropped one more feature. ‘Cred Concierge’

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Isn’t it part Cred Garage? :thinking:

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@alexnazy Yes, you are correct. That is why I said feature rather than product or revenue stream. A feature is a complimenting component of a product. Something like set and subset.

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Something the Cred achieves flawlessly is the design as well UI/UX component. They are able to nail it.

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