00:00 Binny Bansal launches OppDoor
01:01 Indian startups moving their headquarters back to India
03:09 MobiKwik plans to raise 880 crore through IPO
03:53 Byju’s Group General Counsel Roshan Thomas resigns
04:14 IIT Madras plans to incubate 100 startups in 2024
04:54 Tesla likely to set up its manufacturing factory in India
05:46 Zomato increases platform fee from Rs 3 to Rs 4
06:30 Funding News

Binny Bansal launches OppDoor:

1. Flipkart co-founder Binny Bansal has launched his new e-commerce startup OppDoor.
2. Unlike Flipkart which was consumer-focused, OppDoor is more focused on helping e-commerce companies expand their international operations.
3. OppDoor basically helps brands selling on Amazon by offering them support in terms of building their growth strategies to managing their marketing and logistics to help them expand into international markets.

Indian startups moving their headquarters back to India:

1. According to an Economic Times report, Singapore-based Pine Labs is the latest Indian company that’s planning to move its headquarters back to India.
2. And they are not the only ones. In fact, B2B e-commerce unicorn Udaan is also considering the same move as it plans to IPO in the next 12-18 months.
3. Last year, there were also talks of India’s most valuable startup Razorpay and online investment platform Groww moving their parent company from the US to India

MobiKwik plans to raise 880 crore through IPO:

1. Fintech startup MobiKwik’s board has passed a resolution to raise 880 crore through their IPO.
2. This will be MobiKwik’s second attempt at going public.
3. They had previously filed for an IPO in 2021 when they were planning to raise 1,900 crore.

Byju’s Group General Counsel Roshan Thomas resigns:

1. Byju’s group general counsel Rohan Thomas is the latest to join half a dozen senior employees to exit the company.
2. According to The Arc Web, what's troubling for Byju’s is the fact that he was the one helping the company resolve the legal challenges around their 1.2 billion dollar loan b crisis.

IIT Madras plans to incubate 100 startups in 2024:

1. IIT Madras has incubated some of the most innovative Indian startups like Ather Energy, Agnikul Cosmos, and flying electric taxi maker The ePlane Company.
2. In fact, IIT Madras might just be the most prolific early-stage incubator in India.
3. Their Incubation Cell has already incubated 351 startups which have a combined valuation of 5.4 billion dollars and according to their Incubation Cell chief Tamaswati Ghosh, their startups have a survival rate of a massive 80%.

Tesla likely to set up its manufacturing factory in India:

1. Rushikesh Patel, the health minister and the spokesperson for the Gujarat Government, has said that Elon Musk is looking to set up a manufacturing factory in Gujarat and the state government is trying to finalise a deal.
2. In fact, we can expect an announcement regarding Tesla’s manufacturing factory in Gujarat at the Vibrant Gujarat Global Summit 2024.
3. There are reports that Elon Musk himself might be present at the summit.

Zomato increases platform fee from Rs 3 to Rs 4:

1. Last year in August, Zomato introduced “platform fee” - which was charged over and above the delivery fee.
2. At the time, the platform fee was just 2 rupees. It was later increased to 3 rupees.
3. And starting this new year, Zomato has now hiked it to 4 rupees for “key markets”.

Funding News:

1. Let’s talk about Kunal Shah’s latest angel investment VRO Hospitality.
2. VRO Hospitality is a multi-restaurant chain that owns 10 F&B brands.
3. The company was founded in 2018 and has already reached a revenue of 170 crore in FY23 and is expected to make 350 crore in revenues in FY24.
4. This week Indian startups have raised a total of 43.11 million dollars.
5. First up, we have Bengaluru-based B2B seafood e-commerce platform Captain Fresh, which has raised 13.25 million dollars in their series C round.
6. Next, we have a Chennai-based full stack global freight delivery provider Wiz Freight, which has raised 11.24 million in their series B round.
7. Next, we have Bengaluru-based coliving startup Settl, which has raised 10 crore rupees in their pre-series A round.
8. And finally, we have Noida-based devotional platform DevDham, which lets you take part in daily online puja’s at temples, has raised 6 crore rupees in their seed round.


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