HOSPITALITY STARTUP
Healthtech startup Cloudphysician appoints Oyo's Mandar Vaidya as India CEO
Cloudphysician's new India CEO, Vaidya, drives tech-enabled healthcare with industry expertise, strategic partnerships, and global expansion.
Google Cloud’s AI push is winning clients: Thomas Kurian
Google Cloud chief sees tech infra that govt wants to put together as an opportunity to work closely with India. He says so many Indian entrepreneurs are aspiring to build the next Google... ‘we are super supportive of it’.
Cloudphysician raises $10.5 million in funding round led by Peak XV Partners
Online healthcare and technology solutions provider Cloudphysician has raised $10.5 million (about Rs 87.7 crore) in a funding round led by Peak XV Partners, along with Elevar Equity and venture debt firm Panthera Peak. The startup will use the capital to strengthen its presence in India, enter other countries and develop its AI platform.
A pivotal event for online commerce; and other top tech, startup stories
Stay tuned to know how the latest capital infusion into Zepto impacts the workings of this fledgling sector.
Arjun Baljee appointed president of Royal Orchid Hotels
Arjun Baljee appointed as president of Royal Orchid Hotels, leading the company's growth from 2 to 10 hotels. Chander K Baljee, chairman, praises Baljee's leadership for future expansion plans.
Oyo finalises Rs 1,000 crore fundraise from Indian family offices
Oyo fundraise: Hospitality startup Oyo is raising around Rs 1,000 crore from family offices and investors. The fundraise aims to value Oyo at about $2.5 billion, marking a significant decrease from its peak valuation of $9 billion in 2021. Oyo is slated to hold an extraordinary general meeting (EGM) on Tuesday to approve the fundraise.
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Zomato-Paytm ticketing deal; Oyo’s Rs 1,000-crore funding
Zomato is looking to strengthen its ‘going-out’ business with the acquisition of Paytm’s ticket booking and events business. Details on this, and more in today’s ETtech Morning Dispatch.
Small Indian-American community making grand contributions in the US: Report
The report "Indiaspora Impact Report: Small Community, Big Contributions," conducted by Boston Consulting Group, is the first volume in a series to look at the impact of the Indian diaspora, with a special focus on public service, business, culture and innovation in the United States.
Practo posts 22% rise in FY24 operating revenue, cuts loss by 90%
Practo reported a 22% rise in operating revenue to Rs 242 crore for FY24, reducing its operating loss by 90%. It helps patients connect with doctors, book appointments, and offers online consultations.
India-Pak T20 Clash: Pubs, quick commerce startups win the game
Makers of snacks, munchies and soft drinks said they saw a 25-30% surge in sales of such impulse categories on Sunday compared to regular weekends, especially of bigger, sharing packs, on e-commerce platforms. "Sales orders of large packs started to pick up around 12 noon onwards, as people began to stock up for the evening to watch the match indoors with friends and family," said a sales executive at a cola company.
Top startup & tech stories this week
Welcome to a brand new edition of ETtech Unwrapped – our weekend newsletter. The week was packed with important stories broken by our reporters. Here’s a recap if you missed these stories.
New-age brands buzz on deal street; Unacademy founders’ voting rights
Happy Friday! New-age brands are attracting capital from VC funds, founders and other types of investors. This and more in today’s ETtech Morning Dispatch.
Oyo’s maiden annual profit; RBI guidelines for fintech SRO
In a significant turnaround, hospitality startup Oyo reported its first annual profitable fiscal on Thursday. This and more in today’s ETtech Top 5.
EQT's growth fund to pursue deals of $50m-250m in India
EQT's $1.6 billion BPEA EQT Mid-Market Growth Partnership (MMG Fund) targets deals of $50 million-250 million in India, focusing on controlled investments in tech services, healthcare, and the financial sector, with a preference for single specialty hospitals, pharma, and diagnostics.
A quarter of hits & a few misses; and other top tech, startup stories
Welcome to another edition of ETtech Unwrapped – our weekend newsletter. This is Pranav Mukul in New Delhi. This week we’ve wrapped up another compelling quarterly earnings season for listed new-age companies from Zomato and Delhivery to Paytm and PB Fintech.
Oyo withdraws IPO application, opts for private funding at 70% valuation cut
Hospitality company Oyo has withdrawn its draft IPO papers for the second time, which it had filed in March 2023.
World Hypertension Day: Identifying risks, monitoring high BP, and adopting preventive measures to address this silent killer
To address the ticking bomb called hypertension, commonly referred to as high blood pressure, The Economic Times, in collaboration with USV, brings a special World Hypertension Day episode titled ‘The Brain, The Heart, and The Kidney: The Trifecta of Hypertension’, featuring a panel of esteemed experts, Dr. Ajit Mehta, Dr Soumik Chaudhuri, and Dr. Basavaraj G S. This significant discussion aimed to address the critical connection between hypertension and our vital organs. Here are the highlights.
Empowering healthcare innovations: Dr. Noura Khamis Al Ghaithi on ADGHW's role in global healthcare collaboration
H.E. Dr. Noura Khamis Al Ghaithi discusses ADGHW as a platform for global healthcare collaboration, focusing on innovations and partnerships with Indian healthcare providers. The event aims to develop precision health initiatives, strengthen life sciences research, attract medical tourism, and support a growing startup ecosystem.
Ambulances startup Red.Health raises $20 million led by Jungle Ventures
Hyderabad-based startup Red.Health will use the fresh capital to innovate its product, advance its technology, and improve its dispatch system to minimise human errors and optimise response time.
Strong growth likely in FY25; pvt investment picking up, says Sanjay Nayar
In an interview to ET, Nayar called on the government to maintain its capital expenditure push for some more time to "crowd in" private investment. Rural consumption has started to see an uptick, on top of the already strong urban demand, he said. Capacity utilisation has gone up to 75% or so, which indicates companies would go for fresh capacity expansion.
Hiring sees 9% uptick in April 2024, says latest foundit Insights Tracker
The startup ecosystem saw a 37% increase in the number of new companies, leading to a 14% surge in the number of jobs. More than half (53%) of all startup jobs are targeted at freshers. Production and manufacturing sector saw a 31% year-on-year surge in hiring.
Innovative vending: How Daalchini Technologies is pioneering contactless, 24/7 food vending in India
Daalchini Technologies, founded in 2017, is transforming India’s retail sector by introducing IoT-enabled, contactless vending machines for food and snacks. So far, it has installed more than 2000 kiosks across 60+ cities.
Phenomenal job by PM Modi in making India rise on world stage: Silicon Valley entrepreneur
"Objectively speaking, when you look at the sentiment in India or the sentiment globally about India, the only observation you have is that Mr Modi is doing a phenomenal job of making India rise again on the world stage," Sandeep Bhat, the co-founder of Devicethread, a startup aimed at revolutionising the hospitality industry by connecting digital and physical infrastructure, told PTI in an interview.
Former Unacademy COO raises $11 million from Matrix, Lightspeed for new edtech venture
Bengaluru-based startup Beyond Odds Technologies will provide employability-led training, certification, and recruitment services in the grey-collar workforce segment. It connects employers on the demand side to its talent supply base among students.
Startup Mahakumbh: deeptech, data, AI take centrestage on day 2
India is possibly the world leader in AI-first startups today, Amit Kumar, director and head of digital natives business at Google Cloud India, said.
Hospitality brand Quorum Club secures pre-Series A funding led by Gruhas
Quorum Club was founded in 2018 by Vivek Narain and his wife Sonya Jehan. It runs three brands—Quorum, a subscription-based members-only club, District 150, a meetings and events space, and Business Quarter, a coworking space.
Navigating India's entrepreneurial ecosystem: Insights for foreign startups
The Indian ecosystem offers an attractive opportunity for emerging entrepreneurs globally, providing an extensive consumer base, advantageous government policies, and enormous scalability potential with a young and tech-savvy population eager for innovative solutions.
Govt missive to seek nod to deploy LLMs to hurt small companies: startups
Several startups and companies developing LLMs, venture capitalists and experts told ET that such missives can kill startups trying to build in this "hyper-active" space wherein India is already late to the party. It will only allow big corporations who can afford additional resources for testing, and government approval, they said.
Ratan Tata's new 24X7 animal hospital opening soon. When and where?
At 86, renowned for his compassion toward stray animals, Ratan Tata is set to inaugurate a cutting-edge animal hospital in Mumbai. This initiative, born from his struggle to find advanced care for his injured pet, will open in March. Spanning 2.2 acres and costing Rs 165 crore, it will be among India's few 24x7 animal hospitals.
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