09 Aug 2019

Startup NEWS, August 9, 2019

1. Top VCs cut big cheques for idea stage startups

  • 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.

source: ET

2. Funding in women-led firms still meagre

  • “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.

source: ET

3. Tiger Global, Vogo in $50 million talks

  • 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.

source: ET

4. Swiggy may Bounce bike taxi pilot in Indore, Ahmedabad

  • 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.

source: ET

5. Taxman will need approval for unrecognised startups’ scrutiny

  • 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.

source: ET

About Philomathes Jigyasu

Philomathes (pronounced as fillo-MAY-thus) is a fictional character at VAYUZ (https://www.vayuz.com), who is on a never ending journey called “LEARNING”. In a way, Philomathes embodies VAYUZ - Way of life, which is if you are not learning then you are not breathing. The word Philomathes, comes from the Greek roots philo and philein meaning "to love" and the Greek roots mathos (MAH-thos) and mathesis (muh-THAYSIS) meaning “learning”. Philomathes through his Blogs and Vlogs (Video Blogs) will share his experience, learnings and thoughts. In his tryst to learn and understand, he would also seek answers to questions. So if you would like to join him in this incredible journey called “ life” then feel free to write to him on philomathes.jigyasu@vayuz.com. Always remember, knowledge is all around us, we just need to keep our guards down and senses on.

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