Luxurious Automobiles – 2021’s first unicorn, a $1-billion acquisition, and extra
To place it succinctly — it was a helluva week.
On the again of WhatsApp’s privateness considerations, Sridhar Vembu’s Zoho is all set to launch a desi messaging app Arattai. After huge criticism from customers throughout the globe, WhatsApp determined to delay the rollout of its new coverage replace to May 15.
Final week, Zerodha launched Rainmatter Local weather whereas BYJU’S acquired Aakash Instructional Providers for $1 billion, signalling how profitable Indian startups will pave the best way in giving again.
Then, Digit Insurance coverage turned India’s first unicorn of 2021. Now, India has greater than 35 unicorn startups, round 11 of which have been added in 2020 alone.
Jyoti Bansal’s Harness, a San Francisco-based B2B startup, additionally raised $115M and attained unicorn standing with $1.7 billion valuation.
Trade consultants have predicted that India may have 100 unicorns by 2025. And given the speed at which new unicorns are being added, the Indian startup ecosystem appears to be effectively on monitor to realize that.
Mercedes-Benz arrange store in India in 1994 and has a dominant market share of round 40 % within the luxurious automotive market within the nation. Having been within the nation for over 1 / 4 of a century, Mercedes-Benz India Managing Director and CEO Martin Schwenk says the German automaker has studied Indian client behaviour carefully — They (Indian customers) search for value for cash and that is even in a high-end product.
Listed here are some key takeaways from the interview:
- Providing “value for money” merchandise
- Completely different utilization
- Made in India luxurious vehicles
On-demand meat supply startup is altering the best way India consumes non-veg meals
Upon his return to India in 2016, Siddhant Wangdi was involved to see the dearth of hygiene and security requirements in the best way meat was procured, saved, and bought within the nation. This led him to start out Meatigo — an on-demand meat and seafood supply platform — that ensures high quality, selection, security, and hygiene from farm to fork. Learn extra.
Editor’s Choose: D2C manufacturers tackle $2.5 billion counterfeit model business
Shopping for a faux product may not be new to customers. However that it’s a multi-billion-dollar business may be information to some. Based on Acviss, the counterfeit business is definitely a Rs 20,000 crore (round $2.7 billion) business, or roughly lower than 0.37 % of the whole retail pie in India. Nevertheless, the excellent news is that new-age manufacturers are already setting apart a portion of their earnings as authorized charges to battle counterfeits, fakes, and imitations. Learn extra.
Information & Updates
- US President-elect Joe Biden has both nominated or named at the very least 20 Indian-Individuals, together with 13 girls, to key positions in his administration — a brand new document in itself for this small ethnic group that constitutes one % of the nation’s inhabitants.
- In YourStory Critiques this week, we take a look at superstar chef Vikas Khanna’s debut characteristic ‘The Last Color’ streaming on Amazon Prime Video. The movie is delicate and soulful, and can make you query your social privilege.
- Based on a report by Razorpay, on-line transactions grew 80 % in 2020 over the earlier years, pushed by sturdy adoption of digital transactions in Tier II and III cities, and UPI transactions outgrew playing cards, netbanking, and wallets with 120 % development within the yr.
- WhatsApp has determined to delay the rollout of its new privateness coverage replace to May 15 after huge criticism from customers globally, together with India, over considerations that information was being shared with its father or mother firm Fb.
- Samsung would convey its new lineup of flagship Galaxy S21 smartphones to the Indian market by the tip of January with costs beginning Rs 69,999, intensifying competitors with OnePlus and Apple.
Earlier than you go, keep impressed with…
“I am very bullish about what technology can do for the edtech sector. Active learners are key. It’s the awareness that we are trying to create and are truly convinced about.”
— Byju Raveendran, Founder and CEO, BYJU’s
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