The total valuation of all the entrepreneurs mentioned in the IIFL Wealth Hurun India 40 & Under Self-Made Rich List 2020 is INR 44,900 crore which is a staggering 59 per cent increase from last year
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Days after IIFL and Hurun India released its ‘IIFL Wealth Hurun India Rich List 2020’ where Reliance Industries Limited (RIL) managing director and chairman topped the list for ninth straight times, a new list called ‘IIFL Wealth Hurun India 40 & Under Self-Made Rich List 2020’ to represent emerging businessmen from the country.
The list consists of self-made entrepreneurs who are below the age of 40 and have a wealth of INR 1,000 crore or more. The total valuation of
Bangalore-headquartered Razorpay, one of the handful of Indian fintech startups that has demonstrated accelerated growth in recent years, has joined the coveted unicorn club after raising $100 million in a new financing round, the payments processing startup said on Monday.
The new financing round, a Series D, was co-led by Singapore’s sovereign wealth fund GIC and Sequoia India, the six-year-old Indian startup said. The new round valued the startup at “a little more than $1 billion,” co-founder and chief executive Harshil Mathur told TechCrunch in an interview.
Existing investors Ribbit Capital, Tiger Global, Y Combinator, and Matrix Partners also participated in the round, which brings Razorpay’s total to-date raise to $206.5 million.
Razorpay accepts, processes, and disburses money online for small businesses and enterprises. In recent years, the startup has expanded its offerings to provide loans to businesses and also launched a neo-banking platform to issue corporate credit cards, among
BENGALURU (Reuters) – Amazon.com Inc AMZN.O has invested 7 billion rupees ($95.51 million) in its Indian payments unit, ahead of the festive season, data from business intelligence firm Tofler showed.
Amazon will begin its festive season sales on Oct. 17, and has been trying to encourage payments through Amazon Pay with cashbacks and other rewards.
Both Amazon and Flipkart offer deep discounts on everything from clothes, smartphones to home appliances ahead of key Hindu festivals Dussehra and Diwali.
In July, Jeff Bezos-led Amazon.com had invested 23.10 billion rupees in Amazon Seller Services and early this year announced a $1 billion investment to bring more than 10 million small businesses online in India by 2025.
Amazon, billionaire Mukesh Ambani-led Reliance Industries RELI.NS and Walmart Inc’s WMT.N Flipkart are in a
The test, called FELUDA—an acronym for FNCAS9 Editor-Limited Uniform Detection Assay—was named after a popular Indian fictional detective. It intends to “address the urgent need for accurate mass testing,” according to a statement from TATA Sons, which manufactured the test.
The kit could be manufactured for self-testing in the future, according to Agarwal, but the prototype being developed currently is only intended for testing in labs.
The FELUDA test follows a similar rapid test kit developed in the US this spring. Both tests use a gene-editing technology called CRISPR to detect the virus in a patient’s RNA. The US Food and Drug
A team of scientists in India has developed an inexpensive paper-based test for coronavirus that could give fast results similar to a pregnancy test.
The test, named after a famous Indian fictional detective, is based on a gene-editing technology called Crispr. Scientists estimate that the kit – called Feluda – would return results in under an hour and cost 500 rupees (about $6.75; £5.25).
Feluda will be made by a leading Indian conglomerate, Tata, and could be the world’s first paper-based Covid-19 test available in the market.
“This is a simple, precise, reliable, scalable and frugal test,” Professor K Vijay Raghavan, principal scientific adviser to the Indian government, told the BBC.
Researchers at the Delhi-based Institute of Genomics and Integrative Biology (IGIB), where Feluda was developed, as well as private labs, tried out the test on samples from
Inshorts, which operates a popular news aggregator app in India, has raised $35 million in a new financing round led by Lee Fixel’s Addition as the Indian startup looks to scale its adjacent, social network platform.
For Fixel, who wrote several high-profile checks to Indian firms while running Tiger Global, InShorts is the first Indian startup he is backing from his new VC firm. Fixel, who also invested in InShorts when he was at Tiger Global, has backed about six startups through Addition including New York Area-headquartered Odeko, which offers ordering and supply chain tools to cafes, Synk, which develops tools used to identify vulnerabilities, and dLocal, which operates a cross-border payment processor to connect global merchants to emerging markets.
SIG Global and Tanglin Venture Partners, also participated in Inshorts’ new round, which values the startup at about $125 million, a person familiar with the matter told TechCrunch.
ShareChat, an Indian social network that focuses entirely on serving users in non-English languages, said on Thursday it has raised $40 million from a clutch of investors after the Indian startup added tens of millions of new users in recent months.
The five-year-old Bangalore-based startup said Dr. Pawan Munjal, chief executive and chairman of giant two-wheeler manufacturer Hero MotoCorp, Ajay Shridhar Shriram, chairman of chemical manufacturing company DCM Shriram, and existing investors Twitter, SAIF Partners, Lightspeed Ventures, and India Quotient financed the new round of capital.
Ankush Sachdeva, co-founder and chief executive of ShareChat, told TechCrunch in an interview that the startup’s new fundraise is part of its pre-Series E financing round. TechCrunch understands the startup is engaging with several major VC funds and corporate giants to raise more than $100 million in the next few months. ShareChat has raised about $264 million to date.