Earlier this week, Zoho Corporation invested about $2.6 million (Rs 20 crore) in Thiruvananthapuram-based robotics company GenRobotics Innovation—making it the software firm’s seventh investment in Indian startups.
“Nurturing a thriving deeptech ecosystem in India is one of Zoho’s priorities, and the investment in GenRobotics is a continuation of that commitment,” Sridhar Vembu, Founder and CEO, Zoho , said in a release.
The Chennai-based firm’s story is also the story of its founder, who built a multi-million dollar company after turning down venture capital money and bootstrapping it all the way through.
Now in its 27th year, Zoho is a $690 million revenue company, with more than 75 million users. Read more .
Here are other highlights of today's Daily Capsule:
Editor’s Pick: Menstrupedia
Startup Spotlight: MoEVing
News and updates and more…
Editor’s Pick: Menstrupedia
Editor’s Pick
Menstrupedia
When Aditi Gupta and Tuhin Paul started Menstrupedia in 2013, the entrepreneur ecosystem did not understand why the founders wanted to educate young girls about menstruation. They saw no business value in it.
On Menstrual Hygiene Day, Aditi reflects on the startup’s journey in building a successful business around menstrual health education and its far-reaching impact. Read more .
Amid the rising demand for electric vehicles, Gurugram-based full-stack electric mobility platform MoEVing is tapping into the growing opportunities in the last-mile ecommerce delivery market.
The roughly one-and-a-half-year-old startup has already secured $10 million in funding from several global investors. In March, it launched its first multi-modal electric vehicle charging space in Bengaluru and hopes to open more such facilities, especially in smaller cities and towns. Read more .
News & Updates
PB Fintech reported a total income of Rs 591 crore in the fourth quarter of FY22, doubling the revenue of the same quarter a year ago . However, it reported a loss of Rs 219.6 crore in Q4 FY22, which was 3.4 times the loss in the corresponding quarter a year ago.
Electric automaker Tesla, which has been seeking a reduction in import duties to sell its vehicles in India, will not manufacture its products locally unless it is allowed to first sell and service its cars in the country , Founder and Chief Executive Elon Musk said in a tweet.
The Centre is looking to develop a framework to keep a check on fake reviews on ecommerce websites . The Department of Consumer Affairs (DoCA), after studying the mechanism followed by ecommerce entities in India and the best practices available globally, will develop these frameworks.
[Jobs Roundup] D2C brand Smytten provides free trials and curated shopping across 15+ lifestyle categories. This month, the brand raised Rs 100 crore in pre-Series B led by Fireside Ventures and Roots Ventures. If you want to be a part of Smytten’s growth story, check out these job openings .
In Case You Missed It*
*A roundup of interesting stories from global media organisations; YourStory has not verified this content and does not vouch for its accuracy
Chinese tech giants Alibaba, Tencent, and JD.com have all posted their slowest revenue growth on record as COVID-19 and Beijing’s tech crackdown took their toll . Alibaba’s total revenue rose by 9 percent in the latest quarter from a year ago, the slowest on record. Tencent’s revenue for the quarter was little changed, while JD.com saw a roughly 18 percent increase from a year ago.
India's banks need to monitor the credit behaviour of restructured loans and the possibility of increased repayment slippages from sectors more exposed to the pandemic, the central bank said in a report on Friday.
Brand Spotlight
AWS and YourStory’s ‘HER Leadership’ series – featuring interviews with some of the most successful and prominent enterprise business leaders in India – presents its latest episode on Asha Poulose, Vice President & Global CIO Data Analytics, GE Healthcare. “You need to empower others and make the next generation of leaders,” she tells Chandra Balani, Head of Global Enterprise India & Lead - ID&E initiatives, India, AISPL. Read the story to know her thoughts on diversity and inclusion, empathetic leadership, and more.
Before you go, stay inspired with...
— Prem Watsa, Founder, Fairfax Financial Holdings
“Build the company to keep, not to sell.”
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