Hindustan Unilever has agreed to acquire beauty startup Minimalist for about $342 million, marking its latest push to expand in India’s fast-growing premium skincare market. The consumer goods giant will initially acquire a 90.5% stake in the four-year-old direct-to-consumer brand through secondary buyouts and primary investment, with the remaining 9.5% to be purchased from founders…
Category: India
Fintech, Global Security News, India, jar
Indian fintech Jar turns cash flow positive
Indian fintech Jar has turned cash flow positive, an executive at the Tiger Global-backed startup confirmed on Wednesday, as it gears up to deepen its offerings. The three-year-old startup, which offers its users the ability to start their savings and investment journey, achieved the milestone while still growing by more than 10 times last year,…
Blinkit, Commerce, Global IT News, Global Security News, India, Quick commerce, Zepto, zomato
Blinkit signals costly battle ahead in Indian quick commerce market
Zomato’s quick commerce unit Blinkit is accelerating its expansion and expects continued losses as competition intensifies in India’s instant delivery market. Blinkit now aims to reach 2,000 dark stores – small warehouses in residential areas that exclusively service online orders – by December 2025, a year ahead of its previous guidance, after exceeding 1,000 stores…
Apple, Apple India, apple store, Apps, Global IT News, Global Security News, India
Apple brings Store app to Indian market
Apple launched its dedicated Apple Store app in India on Friday, deepening its retail presence in the world’s most populous country as the iPhone-maker seeks to capitalize on growing consumer demand. The app, available for download on India’s App Store, lets customers purchase Apple products directly while receiving personalized shopping recommendations, the company said in…
Accel, Exclusive, Global IT News, Global Security News, India, Sarla Aviation, Transportation
Accel doubles down on Sarla Aviation’s ambition to develop electric air taxis in India
Accel has backed Indian startup Sarla Aviation for its aim to develop flying taxis for mass mobility in the country. © 2024 TechCrunch. All rights reserved. For personal use only.
Global IT News, Global Security News, Google, hyperspectral imagery, India, Pixxel, Space
Google-backed Pixxel launches India’s first private satellite constellation
Pixxel, an Indian space tech startup backed by Google, has successfully launched the first three hyperspectral satellites of its commercial constellation Firefly. © 2024 TechCrunch. All rights reserved. For personal use only.
Fintech, Global IT News, Global Security News, groww, India, IPO, TC
Groww, India’s biggest trading app, prepares for IPO
Groww, India’s largest retail stockbroker, is positioning itself to file for an IPO in 10-12 months and is seeking a valuation between $6 billion to $8 billion, sources familiar with the matter told TechCrunch, in what would be a landmark listing for the country’s fintech sector. The Bengaluru-headquartered’s listing would be the first IPO by…
Fintech, Global Security News, Government & Policy, India, Mastercard, Rupay, TC, visa
India’s payment push is cutting out Visa and Mastercard
As global regulators increase their scrutiny on Visa and Mastercard over merchant fees, India has chosen a different path: creating rival payment networks that are increasingly sidelining international card networks. The strategy builds on India’s Unified Payments Interface, known as UPI, a nine-year-old system that now processes more than 13 billion real-time transactions monthly, or…
Commerce, Dunzo, Flipkart, Global IT News, Global Security News, India
Flipkart taps Dunzo founder to lead quick commerce push
Flipkart has hired Kabeer Biswas, co-founder of Indian delivery startup Dunzo, as the Walmart-owned e-commerce group expands its quick commerce business in the world’s most populous nation. Biswas will lead Flipkart’s quick commerce business, called Flipkart Minutes, a source familiar with the situation told TechCrunch. The move follows Flipkart engaging with Biswas over a potential…
AI, Global IT News, Global Security News, India, Microsoft
Microsoft backs its $3B AI push in India with public and private sector deals
Microsoft announced a sweeping series of artificial intelligence partnerships across India’s core sectors on Wednesday, a day after pledging to invest $3 billion in the country over the next two years as it intensifies competition with rivals Google and Amazon. The tech giant’s chief executive Satya Nadella (pictured above) unveiled agreements with five major organizations…
Exclusive, Global IT News, Global Security News, India, Indian government, Security
Indian government websites are still redirecting users to scam sites
Some Indian government websites are still redirecting to links planted by scammers. © 2024 TechCrunch. All rights reserved. For personal use only.
Exclusive, Global IT News, Global Security News, India, ruchi sanghvi, South Park Commons, South Park Commons India, Venture
South Park Commons is raising $40M for an India-specific fund
South Park Commons is raising $40 million for its India-specific fund over six months after announcing its outpost in Bengaluru. © 2024 TechCrunch. All rights reserved. For personal use only.
AI, Global IT News, Global Security News, India, Microsoft, Satya Nadella
Microsoft to pump $3 billion into cloud and AI push in India
Microsoft plans to invest an additional $3 billion to expand capacity for its artificial intelligence and cloud Azure services in India, the software giant’s chief executive said Tuesday. The software giant, among the top cloud and AI providers in India, is already seeing many of its clients in the South Asian market use its newest…
Accel India, Anand Daniel, Global IT News, Global Security News, India, Shekhar Kirani, TC, Venture
Accel could raise billions for India, but it’s sticking to $650 million
Accel has maintained its India fund size at $650 million for its eighth vehicle, even as other venture firms in the region are racing to raise increasingly larger pools of capital. The firm had ample opportunity to raise “multi-billion dollars,” said Shekhar Kirani, partner at Accel, in an interview with TechCrunch. But unlike peers who…
Commerce, consumer goods, Global IT News, Global Security News, Hindustan Unilever, India, minimalist, Startups, Unilever Ventures
Hindustan Unilever in talks to acquire Peak XV-backed Minimalist for up to $350M
Consumer goods giant Hindustan Unilever is in advanced talks to acquire four-year-old direct-to-consumer startup Minimalist for up to $350 million, according to two people familiar with the matter. An acquisition would add to the Unilever subsidiary’s buying spree in India, where it expanded into the health and wellbeing category by acquiring Oziva and Wellbeing Nutrition…
Apps, Cloudflare Apps, Global IT News, Global Security News, India, Security, VPN
Cloudflare’s VPN app among half-dozen pulled from Indian app stores
More than half-a-dozen VPN apps, including Cloudflare’s widely-used 1.1.1.1, have been pulled from India’s Apple App Store and Google Play Store following intervention from government authorities, TechCrunch has learned. The Indian Ministry of Home Affairs issued removal orders for the apps, according to a document reviewed by TechCrunch and a disclosure made by Google to…
Accel, Accel India, Global IT News, Global Security News, India, Venture
Accel closes $650 million for new India fund
Accel has raised $650 million for its eighth India fund as the U.S. venture firm expands its investment strategy in the South Asian market. The new fund follows the firm’s seventh India fund secured in March 2022. Accel — which has backed companies including e-commerce group Flipkart, food delivery platform Swiggy and software group Freshworks…
Fintech, Global IT News, Global Security News, Google, Google Pay, India, NPCI, Paytm, PhonePe, Walmart
India again delays rules to break PhonePe-Google Pay duopoly
India has once again pushed back a contentious plan to limit big technology companies’ control of the nation’s digital payments system, extending a regulatory uncertainty that has weighed on the sector for years. The National Payments Corporation of India said on Tuesday it would extend the deadline for implementing a 30% cap on any individual…
Apps, Fintech, Global IT News, Global Security News, India, WhatsApp, WhatsApp Pay
India lifts WhatsApp payment curbs
India has removed restrictions on WhatsApp’s mobile payments service in a significant victory for Meta in its largest market by users as it seeks to compete with entrenched fintech rivals. The National Payments Corporation of India, the payments body overseeing the popular UPI payments network, said Tuesday that WhatsApp can now roll out WhatsApp Pay…
Fintech, Global IT News, Global Security News, Google, Government & Policy, India, NPCI, Paytm, PhonePe, Walmart
India’s mobile payments dilemma
India’s payments regulator is set to decide as early as Monday whether to curb the dominance of Walmart’s PhonePe and Google in the nation’s fast-growing mobile payments market, a move that could reshape how its billion-plus population moves money. The decision centers on UPI, or Unified Payments Interface, a network backed by more than 50…
Global Security News, India, PharmEasy, Prosus Ventures, Startups, TC, Valuation Markdown
PharmEasy’s $5.6 billion value shrinks to $456 million, investor data shows
Indian online pharmacy PharmEasy’s valuation now stands at about $456 million, according to disclosures from its investor Janus Henderson, a 92% drop from its peak valuation of $5.6 billion. The British American global asset firm’s Global Research Fund values its holding of 12.9 million shares in PharmEasy at $766,043, according to its latest filing for…
Global IT News, Global Security News, India, Rapido, Security
India’s Rapido exposed user and driver data through leaky website feedback form
Rapido restricted access to the exposed portal soon after TechCrunch contacted the company. © 2024 TechCrunch. All rights reserved. For personal use only.
Global IT News, Global Security News, India, mcdonalds, McDonalds India, Security
Bugs in a major McDonald’s India delivery system exposed sensitive customer data
McDonald’s India exposed the personal information of customers and drivers due to security flaws impacting its APIs. © 2024 TechCrunch. All rights reserved. For personal use only.
2024 venture trends, Global IT News, Global Security News, India, Startups, venture funding
Indian startups raised 32% fewer rounds in 2024 as VCs got selective
Indian startups raised 32% fewer funding rounds in 2024 compared to last year, per new numbers from data intelligence platform Tracxn, signaling that investors are being more selective when striking deals. The number of startup funding rounds fell to 1,448 compared to 2,114 last year, but overall funding rose 6% to $11.3 billion — the…
clickbait, Global IT News, Global Security News, Google, India, Media & Entertainment, YouTube
YouTube says it will start cracking down on videos with clickbait titles in India
A lot of YouTube videos have flashy, misleading titles and thumbnails, such as “BREAKING NEWS” or “The president steps down,” to bait the user into watching the video, which has non-related content. YouTube said Wednesday that it is now cracking down on such videos — especially if videos with topics breaking news or current events…
Fintech, Fundraising, Global IT News, Global Security News, India, Mobikwik
India’s MobiKwik surges 82% in market debut
Shares in digital payments firm MobiKwik surged 82% to ₹507.5 ($6) on their first day of trading, as the Indian fintech company made its market debut amid fierce competition from larger rivals. The listing pushed MobiKwik’s market value to $464 million, well above its initial target of $250 million for the public offering. The valuation…
Commerce, Global IT News, Global Security News, Government & Policy, India, reliance industries, Reliance Retail, Shein, Startups
Shein must cede Indians’ data, control of local ops to re-enter India
Shein must surrender all data of Indian customers and control of its local operations to its partner, Reliance Retail, and keep operations fully local to re-enter the Indian market, according to new government disclosures that reveal how the apparel and accessories retailer secured a rare exception to India’s ban on Chinese-linked apps. In a parliamentary…
aye finance, Fintech, Global IT News, Global Security News, India, IPOs, Startups
Alphabet-backed Indian lender files for IPO
Alphabet’s CapitalG-backed Aye Finance, a lender focused on India’s micro, small, and medium enterprises, is seeking to raise $171 million from its initial public offering, it disclosed in a filing Tuesday. The offering comprises a $104 million fresh share issue and a $67 million secondary sale by existing investors, with proceeds aimed at expanding the…
Enterprise, Global IT News, Global Security News, Google, Google India, India, Preeti Lobana, Sanjay Gupta, TC
Google names new India chief
Google has appointed Preeti Lobana to lead its India business, filling a key position that had been vacant since Sanjay Gupta’s promotion to Asia-Pacific president in July. Lobana, who was vice president of advertising technology at Google, takes over as the company pushes its AI products in India amid intensifying competition in the digital market.…