- Returning entrepreneurs, who have been a rare breed in India, had always found interest from VCs as they were safe bets, but top executives from large startups are increasingly able to rack up big rounds.
- Top venture capital investors, including Sequoia Capital, Matrix Partners and Lightspeed Venture Partners, are cutting large cheques for second-time founders and seasoned industry veterans for idea stage startups, as they look to get in early on the most competitive seed and series-A funding deals.
- “There’s not enough access to skilling, and with women dropping out of the workplace between life phases, the gender divide is only increasing,” said Chaitra Vedullapalli.
- Only 2% of venture funding goes to women-led enterprises and the gender disparity in this space is only growing, said Chaitra Vedullapalli, the founder of Women in Cloud (WIC), a community-led initiative to support and promote women technology entrepreneurs.
- New York-based investment firm Tiger Global Management is in preliminary talks with Vogo Automotive, which owns and operates an eponymous scooter rental platform, to invest $40-50 million in the Bengaluru-headquartered startup, according to people aware of the development.
- Vogo, which was founded in 2016 by Anand Ayyadurai, Padmanabhan Balakrishnan and Sanchit Mittal, has also had conversations with Japanese investor SoftBank.
- The pilot started about two months ago with Swiggy’s delivery personnel using Bounce’s app to pick up and drop customers when food delivery orders are low.
- Bike taxi is a mobility solution where a single customer rides pillion. In India, Uber, Dunzo, Rapido, Bounce and Vogo are among the companies that provide this service.
- The move follows finance minister Nirmala Sitharaman’s assurance in her budget speech that the CBDT will take steps to address issues faced by startups.
- The order makes it clear that tax officers will not carry out any verification of issues raised with startups recognised by DPIIT facing ‘limited scrutiny’ and summarily accept their contention.