EVage raises $28M to be a driving force in India’s commercial EV revolution

A congruence of factors in India — notably, climate change policies, fuel costs and skyrocketing demand for e-commerce — has set up ideal conditions for startups like all-electric commercial vehicle startup EVage. The startup, which has already supplied five EV trucks to Amazon India’s Delivery Service Partner and plans to provide “in the thousands” more […]

India’s LEAD School becomes unicorn with new $100 million funding

Despite the recent boom of consumer-focused education learning platforms in India, the vast majority of students in the South Asian nation remain unserved. The existing B2C offerings are expensive for most of the students and are heavily skewed towards those in high-school preparing for competitive exams. LEAD School, a nine-year-old startup, is addressing this disconnect […]

Fact-checkers write open letter urging YouTube to get serious about COVID misinformation

A group of more than 80 prominent fact-checking organizations around the world is pressing YouTube to take action against COVID misinformation, which still prevails on the platform now two years into the pandemic. “As an international network of fact-checking organizations, we monitor how lies spread online — and every day, we see that YouTube is […]

India’s Refyne raises $82 million to help workers get faster access to wages

Refyne has raised a new financing round, just seven months after securing its previous funding, as the Bengaluru-based startup scales its platform that helps workers access their earned salaries in real time. Tiger Global led Refyne’s $82 million Series B funding, the two said Wednesday. Existing backers QED Investors, partners of DST Global, RTP Global, […]

Novo, the SMB neobank, nabs $90M at a $700M valuation

Novo, the startup building a new kind of banking service from the ground up for small and medium businesses, has closed a significant round of funding to take the next step in growing its platform. It has raised $90 million, a Series B round that values the Miami-based startup at $700 million, funding that it […]

India to own 35.8% in Vodafone Idea after conversion of dues

Vodafone Idea said on Tuesday the Indian government will own 35.8% of the company after the third-largest telecom operator’s board approved conversion of dues and spectrum auction instalments into equity. The operator, which is a joint venture between the British giant Vodafone Group and billionaire Kumar Mangalam Birla’s conglomerate, owed the government dues of roughly […]

Equity Monday: The end of cheap money, and Take-Two buys Zynga

Hello and welcome back to Equity, a podcast about the business of startups, where we unpack the numbers and nuance behind the headlines. This is our Monday show, our short ramp into the week. Yes, it’s Monday again. No, you can’t stay in bed. Things are already happening! Take-Two is buying Zynga: In a cash and […]

Paytm stock drops to record low

Shares of Paytm dropped to ₹1,165 ($15.71), the lowest since its market debut in November following the nation’s biggest-ever initial offering after a key brokerage house further cut its price on the payments stock. The stock, which opened Monday at ₹1,226, dropped 5.3% at 1.55 pm India standard time. Paytm, which has been struggling to […]