UPGRAD FOUNDERS
About 80% of sales professionals in India feel they are not sufficiently skilled: upGrad Enterprise report
According to upGrad Enterprise's Grand Sales & Workplace Report 2024, 80% of India's sales professionals feel unprepared for a rapidly evolving work environment. The report highlights that 61% are considering job changes within 3-24 months, with high stress levels, especially in automotive and retail sectors, and a significant gender income disparity in sales roles.
Tech-enabled construction startup Wify raises funding from Mount Judi Ventures, Capria Ventures
The Mumbai-based on-site installation and post purchase services provider said it will use the funds to penetrate deeper into existing categories. Wify will also The Mumbai-based on-site installation and post purchase services provider said it will use the funds to penetrate deeper into existing categories, company said in a statement.
Commerce min engaging with different departments on India, Korea FTA upgrade talks: Official
India and Korea are progressing with talks to upgrade their existing free trade agreement (FTA), known as the Comprehensive Economic Partnership Agreement (CEPA). The Department of Commerce is collaborating with various ministries such as heavy industries, steel, and chemicals to prepare the offer list for the negotiations.
Smartwatch companies turn to premium buyers looking for upgrade
Leading smartwatch brands like Noise, Boult, and Boat are targeting repeat buyers with premium hardware to increase average selling prices and improve profitability amid declining shipments and intense competition. They are using their own processors, high-end materials, and aesthetic enhancements, while aggressively expanding into offline retail channels. This shift follows a 7.3% drop in Q1 2024 shipments and a fall in ASP to $20.65. The focus is now on offering premium products with better features to attract discerning consumers.
Oyo posts maiden annual net profit of Rs 100 crore in FY24: founder Ritesh Agarwal
Oyo reported its first profitable fiscal year in 2023-24 with a net earning of nearly Rs 100 crore. Founder Ritesh Agarwal highlighted growth prospects in key markets like Nordics, South East Asia, US, and UK. Fitch Ratings upgraded Oyo's credit rating, acknowledging its strong performance.
We had our maiden net profitable financial year at nearly Rs 100 cr: Oyo founder Ritesh Agarwal
Agarwal had shared with employees in February that it has doubled its profit after tax (PAT) sequentially in quarter three of financial year 2024 to Rs 30 crore. The company had marked its maiden profitable quarter with a PAT of over Rs 16 crore in quarter two of fiscal year 2024.
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Eat, pray, work.. want a detox retreat? Step into your office
According to a report by fitness technology company GOQii last month, almost 45% of India's population hovers dangerously close to being classified as unhealthy, adversely affecting not only individual mental and physical well-being but also diminishing productivity.
After Zerodha founder's bold suggestion on Bengaluru water crisis, 300 phone calls in a day and a big debate
Zerodha's founder, Nithin Kamath, raised concerns about Bengaluru's water crisis on social media, citing the increased likelihood of recurring crises due to extreme weather events. He highlighted the city's significant freshwater demand of 2632 million litres per day (MLD) and the potential of converting excess sewage treatment plant water into usable resources to meet around 450-500 MLD of the demand.
Why hasn’t Infosys upgraded margin guidance if TCVs are at record high? Sandip Agarwal asks
Sandip Agarwal asks: "Despite a strong TCV, why is the growth guidance so low? We are not able to connect the dots of what is pulling down growth so much and why they are projecting this kind of growth. In my view, this guidance and these numbers are on the lower side of what anyone would have been anticipating."
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.
Exclusive: Byju’s India CEO Arjun Mohan resigns, founder Raveendran to comeback at helm of daily ops
Byju Raveendran's return to the top of daily affairs after nearly four years is of significance as as a group of Byju’s investors voted in February to oust him as CEO of the company in an extraordinary general meeting.
Leasing of lithium-ion batteries for 3-wheelers to be rolled out soon in Kolkata
On the streets of Kolkata and surrounding areas, e-rickshaws, popularly known as 'toto', are set to be powered by lithium-ion batteries with the rolling out of a battery leasing model, officials said on Sunday. Neuron Energy, a lithium-ion battery maker, has joined hands with Urja Mobility to spearhead the leasing model which has so far been heard only in the business-to-business EV sector, they said.
Job market witnessing rebalancing after rush of cash flow seen immediately after Covid-19, says Upgrad co-founder Ronnie Screwvala
Upgrad co-founder highlights job market trends, growth in placements, and focus on future careers in data, tech, ML, and AI. Emphasis on upskilling and intellectual capital creation in small towns and hinterlands for India's transition.
How UGRO Capital emerged as India's largest co-lending NBFC partner for banks: Shachindra Nath
Shachindra Nath of UGRO Capital highlights the company's growth as India's leading MSME financing firm, emphasizing the recent Crisil upgrade to 'A'. The discussion covers the impact of ratings, diversified borrowing strategies, and collaborative social impact research initiatives. Nath says "fundamentally UGRO is now becoming India's largest, most dedicated data tech driven MSME financing company."
Founder of EV maker VinFast launches global charging stations venture
V-Green, led by VinFast's founder Pham Nhat Vuong, focuses on global EV charging network expansion. With a $404 million investment over two years, Vuong aims for a comprehensive charging network while Green SM drives sales for VinFast.
Demand for Gen AI courses surge as working professionals rush to keep themselves relevant
The trend is being driven by professionals seeking to stay competitive in a fast-evolving job market and to safeguard themselves against layoffs by futureproofing their careers through upskilling, said executives of edtech companies such as Upgrad, Great Learning, Simplilearn and Coursera.
CXOs feel the heat amid high expectations, low tolerance
Indian CXOs encountered career-threatening events at least once last year – 23% said it was due to board disputes, according to an upGrad Harappa study. Public relations issues, economic downturns, cybersecurity breaches, market changes, regulatory/compliance matters and M&A challenges were among the other issues that leaders had to deal with, that posed a risk to their careers.
Fortunes of startup founders swing with stock prices in past 12-14 months
During the last 12-14 months, startup founders such as Zomato’s Deepinder Goyal and Policybazaar’s Yashish Dahiya and Alok Bansal have reaped mega rewards. However, Paytm founder and CEO Vijay Shekhar Sharma has seen his wealth eroded.
Apple rolls out iMessage upgrade to withstand decryption by quantum computers
Apple upgrades iMessage with PQ3 to defend against quantum computing. It replaces the existing protocol and supports conversations. US and China invest in post-quantum cryptography. Cybersecurity agencies advise early planning. Quantum tech firms are confident in the threat.
Oyo launches Shark Tank-inspired loyalty programme
Customers can avail a free night's stay after seven room nights, an additional 5% discount on Oyo's network of over 3,800 Wizard hotels in India, as well as other rewards in the form of Oyo money under Wizard Shark. Valid for three months, the programme offers free membership renewal. Originally launched in August 2018, Oyo's Wizard programme, with more than 4.4 million active members, is among the largest loyalty programmes in the hospitality industry in India, the company said.
Edtech’s AI push has its share of doubting Thomases
Higher education, upskilling platforms likely to benefit more than startups servicing schools and students on large scale
Mumbai emerging as preferred startup destination, say founders, investors
The financial capital's fast pace of infrastructure development and increasing access to capital and talent is attracting startup founders and investors.
Ronnie Screwvala meets edtech founders to discuss impact of Byju's controversy
The founders aimed to change the narrative around edtech, shifting it away from being seen as a 'predatory space' to highlighting its positive aspects, according to a founder.
UpGrad appoints Ankur Nyati as president of ‘study abroad’ segment
Nyati has worked for more than two decades across domains like manufacturing, retail, e-commerce, and education. He has held leadership positions at ITC, Unilever, Flipkart, Ola, Ola UK, WhiteHat Jr, and The Manipal Group, among others, according to the press release.
Upgrad-Udacity deal; Angel One snags Kotak Cherry top deck
Happy Monday! Ronnie Screwvala-led Upgrad is closing in on US edtech firm Udacity, with a fresh fundraise likely to seal the deal. Details of this and more in today’s ETtech Morning Dispatch.
Upgrad in talks for $100 million to close US edtech Udacity buy
Upgrad founder Ronnie Screwvala, who owns 22.4% in Upgrad, likely to participate in $100 million round. The company has pitched to external investors for about $50-60 million. The rest would be from existing investors like Temasek.
Upgrad appoints former Tech Mahindra chief CP Gurnani to its board
CP Gurnani's addition as an independent non-executive director increased the Mumbai-based startup’s board to seven members, cofounder Ronnie Screwvala told ET.
Upgrad logs 96% revenue rise in FY23, losses widen 67% too
The company has slightly narrowed its EBITDA loss to Rs 558 crore in the period, against Rs 572 crore a year ago, the statement added.
eBikeGo seeks USD 20 mn in funding for tech upgrade, expansion
Kiran detailed the company’s ambitious plans to introduce new premium electric scooters, motorcycles, and bicycles, alongside setting up additional manufacturing facilities to complement the existing Pune facility.
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