Blog

3M Indian accounts banned by WhatsApp between June 16-July 31

Over three million Indian accounts were banned by WhatsApp while 594 grievance reports were received by the messaging platform between June 16-July 31, according to its compliance report.

In its latest report released on Tuesday, WhatsApp said 3,027,000 Indian accounts were banned on WhatsApp during the said period. An Indian account is identified via a +91 phone number, it added.

Trifecta Capital announces launch of Debt Fund — III with a target corpus of Rs 1,000 Cr

Trifecta Capital has announced the launch of its third venture debt fund, Trifecta Venture Debt Fund – III. The Fund — with a target corpus of Rs 1,000 crore ($133 million) and a greenshoe option of Rs 500 crore ($67 million) — will be the largest in the series of venture debt funds managed by the firm.

It aims to serve the rapidly growing financing opportunities for Indian startups, with a focus on investing in B2B marketplaces, D2C brands, and SaaS startups. In 2021 alone, the Indian startup ecosystem has seen 24 new entrants to the unicorn club, and has attracted $26 billion in equity financing in the first eight months of 2021.

Around 18 unicorns to hit street with $11-12 billion IPOs in 2 years: Bofa

The fast swelling unicorn universe in the startup ecosystem is set to witness a flurry of share sales as around 18 large startups are set to hit primary markets to raise $ 11-12 billion over the next 24 months, according to a Wall Street brokerage.

The domestic startups have created around 60 unicorns, having $1 billion valuations or more, and 20 of them this year alone. Many reports predict that the number will cross the 100-mark this year, going by the massive fund inflows into startups.

Amazon Retail launches agronomy services for farmers

Amazon Retail has announced the launch of its agronomy services for farmers that will provide timely advice and enable them to make accurate decisions on actions required for their crops.

The initiative will also introduce machine learning technology for better produce and build a robust supply chain infrastructure, a statement said.

Amazon Retail is engaged in the business of manufacturing and retailing of food products produced and/or manufactured in India.

South Korea bans Google, Apple payment monopolies

South Korea’s National Assembly on Tuesday approved legislation that bans app store operators such as Google and Apple from forcing developers to use their in-app payment systems.

South Korea is reportedly the first country in the world to pass such a bill, which becomes law when it is signed by the president, whose party has backed the legislation.

Kerala government to promote entrepreneurship, provide assistance to startups

The Kerala government will take all possible steps to promote entrepreneurship and is committed to provide all possible assistance to startups, Director of State Industries and Commerce Department S Harikishore has said.

He said more change is expected in the MSME sector as small and medium enterprises do not need a licence for three years.

India poised for stronger growth on structural reforms, government capex push: CEA

India’s macroeconomic fundamentals are much stronger, and the country is all set for robust growth on the back of structural reforms, the government’s capex push, and rapid vaccination, Chief Economic Adviser KV Subramanian said on Tuesday.

Briefing media on the growth number, he said the GDP data for the first quarter reaffirms the government’s prediction of an imminent V-shaped recovery made last year.