Koovs – India’s fashion e-commerce player lays off 50 percent employees
Koovs has derailed 140 employees which is about of half of its employee base, as reported by a number of publications last week.
India
Funding rounds, acquisitions, regulatory shifts, and major business developments from across the Indian startup and technology landscape.
YES Bank moratorium – crisis, impact on UPI transactions & startups
The Reserve Bank of India (RBI) on Thursday (5 March) imposed a moratorium on YES Bank capping the withdrawal limit to INR 50,000 per depositor till 3 April.
Leap Finance scoops $5.5 Mn in seed from Sequoia
Bengaluru, India-based Leap Finance, a fintech startup that offers loans to students, on Tuesday raised $5.5 in a seed funding round led by Sequoia.
Sleepy Owl – Coffee startup raises undisclosed amount from Rukam Capital
Delhi-based Sleepy Owl, a coffee brand yesterday announced that it has raised an undisclosed amount in a venture round from Rukam Capital
[Big News] Supreme Court of India lifts cryptocurrency ban
The Supreme Court of India yesterday (4 March 2020) revoked the ban imposed by the RBI that restrains banks to permit cryptocurrency related payments...
[Breaking] Biogreen with TATA Motors develops world’s first biodegradable & compostable bubble wrap
Biogreen today told LAFFAZ that it has successfully developed world's first biodegradable & compostable bubble wrap in association with TATA Motors.
Neeman’s – Hyderabad-based sustainable shoe brand raises $1 Mn
Hyderabad-based sustainable shoe brand Neeman's on Monday (2 March) raised $1 million in Pre-Series A round led by Anicut Angel Fund.
Online car retailer Spinny raises $43.7 Mn from Infosys’ chairman
Gurugram, India-based online used car retailer Spinny yesterday raised $43.7 million in a Series B round led by Fundamentum Partnership
Atraxn Partners invests in youth-focused Hostel chain ‘GoStops’
Atraxn Partners, owned by the founders of Wheebox today announced that it has invested in the Delhi-based full-stack youth hostel company goStops.
Spaciya Advisors – Noida-based Real Estate tech startup raises undisclosed amount
Noida-based Spaciya Advisors, a research-led real estate consultancy firm today announced about its Pre-Series funding round from the angel investor Alok Garg.
LetsTransport – Bengaluru-based logistics startup acquihires Pixlcoders
Bengaluru-based tech logistics startup LetsTransport on Friday acquihired Pixlcoders, a web and mobile development startup from Bengaluru.
OYO CEO Ritesh Agarwal earns the title of ‘Youngest SELF-MADE Billionaire’ after Kylie Jenner
India's hospitality behemoth OYO joined the unicorn club in 2018 and now its CEO Ritesh Agarwal has scooped the title of 'Youngest Self-Made Billionaire'