TICE News | Startup News Of The Week |
Welcome to our latest edition of the Startup Spotlight, where we bring you the hottest updates and developments from the dynamic world of startups! From groundbreaking innovations and government schemes to funding and new hirings in the startup space, our news bulletin dives into the heart of the startup ecosystem, keeping you informed and inspired.
Flipkart Commits $20 Million Investment in New In-House Credit Marketplace Startup
Flipkart, the leading e-commerce giant, has invested a whopping $20 million in a credit-based marketplace led by their senior employee, Prakash Sikaria. This move is in line with Flipkart's strategic emphasis on credit solutions and its ambition to establish its own financing and payment options. Although the launch date for this new credit marketplace hasn't been finalized, industry reports suggest it could be launched in late 2023 or early 2024.
Ola Goes Green: Resumes Bike Taxi Operations in Bengaluru with Electric Fleet
CEO Bhavish Agarwal of Ola announced the relaunch of Ola's bike taxi services in Bangalore, this time exclusively with electric bikes. Not only is this move environmentally friendly, but it also keeps the rides pocket-friendly, with prices set at Rs. 25 for a 5 km ride and Rs. 50 for a 10 km ride. Reports hint at a nationwide rollout of Ola's electric bike services in the near future.
T-Hub Joins Forces with Corporate Connections to Foster Innovation and Startup Investments
T-Hub, a prominent startup incubator, has forged a partnership with Corporate Connections with the aim of bridging the gap between corporates and startups and generating new investment opportunities. This collaboration will involve exclusive startup showcases for Corporate Connections Members, creating a dedicated platform for innovative solutions.
WhatsApp Introduces Flows, Payments, and Meta Verification Features in India
In the second annual conversation conference by Meta, WhatsApp launched several new features tailored for businesses. These include "Flows" to customize chat experiences for customers, a "Payments" feature enabling in-chat payments, and "Meta Verified" badges for recognized companies, enhancing credibility.
OTT Services Delinked from Telecom Bills
The Department of Telecommunications has removed Over-The-Top (OTT) platforms from the list of telecommunication services. Consequently, upcoming telecom bills will no longer include OTT services. The Department clarified that the current definition of telecom services under the Telegraph Act is sufficient, and there's no need to incorporate OTT services into it.
Cash-Strapped BYJU’S Delays Final Payments for Dismissed Employees
Edtech firm BYJU’s, facing financial challenges, has yet to fulfill its promise of final payments to employees who were laid off in June. Despite assuring payments by September, the company has not been able to meet this commitment due to financial constraints.
Karnataka HC Urges Centre to Consider Age Limit for Social Media Users
During a hearing on a petition urging the ban of social media, the Karnataka High Court appealed to the Supreme Court to reconsider the age limit for social media users. The High Court proposed age verification through official documents like Aadhaar, similar to practices seen in gaming platforms.
A23's Rummy Platform Owner Launches Online Poker App Amidst 28% GST Challenges
Despite challenges posed by the new 28% GST regime set to begin on October 1, the parent company of A23's Rummy platform, Digital Works, has defied odds by launching a new online poker app. The company believes the demand for poker surpasses that of rummy, anticipating a significant boost to their business with this new app.
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