GoMechanic exaggerated finances to attract Investors to get Growth At All Costs. With revenue fraud & layoffs impacting 70 Percent of its workforce, Go-Mechanic is the latest Sequoia backed startup whose supposed main intention was to deflate the valuation to getting listed in a while on Indian exchanges. A group of investors have called for …
Maruti Suzuki India, an automaker, announced on Friday that it intends to raise prices on all its models starting in January 2023. It cited cost challenges brought on by inflation and regulatory obligations. The automaker said in an exchange filing, “While the company makes the maximum effort to reduce cost and partially offset the increase, …
In a partnership with a major business, Essar Group intends to build a Rs 40,000 crore petrochemical complex in Odisha, the company announced in a statement on Thursday. According to the statement, the oil to the petrochemical complex will have an annual capacity of 7.5 million tonnes. It did not give the identity of the …
Essar Group intends to build a Rs 40,000 billion petrochemical facility in Odisha Read More »
When launching the National Level Start-up Initiative organised by the Software Technology Park of India (STPI) and Electronics and Computer Software Export Promotion Council, Ashwini Vaishnaw, Minister of Railways, Communications, and Electronics and IT, claimed that the electronics and BPO sector could add millions of new jobs (ESC). He claimed that in the next two …
The Reserve Bank of India announced the launch of the first pilot for retail digital Rupee (e₹-R) on December 1. The apex bank previously said on October 31 that the pilot would start in a month. The production, distribution, and real-time retail use of digital rupees will all be put to the test during the …
On December 1, the RBI will launch the first pilot for the digital rupee Read More »
Elon Musk announced his intention to “Go to War” against Apple. The CEO of Twitter has voiced his discontent with Apple’s 30% levy on software sold through the Apple Store. According to Musk, Apple has threatened to exclude Twitter from its App Store. The software is still accessible on the App Store, though. Elon Musk …
OYO, a travel tech business, posted a net loss of 333 crore rupees in the second quarter, down from 414 crore rupees in the first quarter. The Securities and Exchange Board of India (SEBI) received the company’s H1 results on Saturday. In the first and second quarters, OYO’s adjusted EBITDA increased eight times, from Rs …
IPO-bound OYO discloses a net loss of Rs. 333 crore; EBITDA increases by 8x Read More »
Sources have confirmed that e-commerce and technology giant Amazon has informed the Labour Ministry that all resignations made in accordance with the Voluntary Separation Policy are voluntary and that no employees are being subjected to excessive pressure. The Voluntary Separation Program plan that Amazon had distributed to its Indian employees had become the subject of …
Amazon is closing its online learning division, Amazon Academy, in India due to the slump in edtech. The portal, which was introduced in early 2021 during the pandemic-driven edtech boom, operated in the “test prep” market and provided online coaching for entrance examinations like the IIT-JEE and NEET. “Amazon will discontinue Amazon Academy’s operations in …
Amazon will close its online learning business in India due to the slowdown in edtech. Read More »
Sukoon Healthcare, a healthcare start-up with offices in Gurgaon, has received a $15 million investment from global private equity company Lightrock India. The money will be used to extend its activities across several locations, offer more specialised services, and build its network by working with other businesses already active in this market. Despite neither party …
PE firm Lightrock India invests $15 million in mental healthcare start-up Sukoon Read More »
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