Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul><li>The Supreme Court of India has upheld emergency award given to <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword> by Singapore arbitrator</li><li>The legal battle between Amazon and <keyword id="375475" type="COMPANY" weightage="20" keywordseo="Future-Retail">Future Retail</keyword> dates back to August 2020.</li><li>Amazon had claimed that it had barred <keyword id="44949" type="CITY" weightage="20" keywordseo="Future-group">Future Group</keyword> from any of its assets to Reliance, as per its investment deal.</li></ul>E-commerce giant Amazon has won the legal battle against Future Retail, meaning that the retail giant’s sell-off worth ₹24,000 crore to Reliance Retail is now off the table. The Supreme Court of India on Friday, August 6, upheld the emergency award given to Amazon by the Singapore International Arbitration Centre (SIAC) last year. The legal battle between Amazon and Future Retail dates back to August 2020, after Mukesh Ambani-led Reliance Retail agreed to buy Future Group’s retail, wholesale and warehousing assets for ₹24,713 crore. Amazon, which held about 3% stake in Future Retail through its 49% shareholding in Future Coupon, objected to the deal. The e-commerce giant had mentioned that as per their deal, Future Group was<a href="https://retail.economictimes.indiatimes.com/news/industry/amazon-future-coupons-deal-named-15-companies-as-untouchables/79053231"> barred from selling </a>any of their assets to several companies, including Reliance. The US-based e-commerce titan also contended that it was left out of the loop while the deal was being cracked. Since the Supreme Court’s verdict, Future Retail’s stock price has dropped 9.94% on August 6 as of 11:16 a.m. Its shares were trading at ₹52.55 as of 11:16 a.m. Meanwhile, Reliance Industries’ shares were down 1.9%. Earlier this year, Future Group’s chief executive Kishore Biyani has claimed that the Reliance acquisition deal was a “saviour for them, their employees and shareholders.” He noted that Future Group had reached out to Amazon eight times in 2020, seeking financial help. However, the e-commerce giant never offered any support. “As part of the agreement, they could have provided us funds through affiliates or financial institutions by taking over loans from existing lenders, but they never did despite the agreement clause and our request,” Biyani had <a href="https://www.timesnownews.com/business-economy/companies/article/kishore-biyani-says-ril-saviour-amazon-didn-t-help-future-group-despite-reaching-out-to-them-8-times/702472">told </a>the Economic Times. He also emphasised that Amazon was aware about the Future-Reliance deal. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/from-unacademy-to-swiggy-prime-minister-modi-gets-a-request-from-founders-of-indias-biggest-startups/articleshow/85091070.cms">From Unacademy to Swiggy ⁠— Prime Minister Modi gets a request from founders of India’s biggest startups</a> <a href="https://www.businessinsider.in/business/startups/news/policybazaar-investor-chiratae-closes-337-million-fund-with-3-portfolio-startups-ready-for-ipo/articleshow/85078486.cms">PolicyBazaar investor Chiratae closes another fund at $337 million, with three portfolio startups ready to go public</a> <a href="https://www.businessinsider.in/policy/foreign-policy/news/retrospective-tax-taxation-and-industry-experts-cheer-withdrawal/articleshow/85076739.cms">Taxation and industry experts cheer the potential withdrawal of retrospective tax</a>

Amazon wins the case to hold Mukesh Ambani’s Reliance from buying Kishore Biyani’s Future Retail

<ul><li>Some of these companies include Hippo Video founded by ex <keyword id="265415" type="General" weightage="20" keywordseo="zoho" source="Orion">Zoho</keyword> employees and Niki founded by former Innovaccer employees.</li><li><keyword id="4621694" type="General" weightage="20" keywordseo="freshworks" source="Orion">Freshworks</keyword> and <keyword id="2760306" type="General" weightage="20" keywordseo="chargebee" source="Orion">Chargebee</keyword> are also founded by former employees of Sridhar Vembu-led Zoho Corporation.</li><li><keyword id="4360787" type="General" weightage="20" keywordseo="indian-saas-companies" source="Orion">Indian SaaS companies</keyword> — both old and new — have created over 62,000 jobs in India in 2021 so far.</li></ul>Over 500 former employees of India’s top fifteen software-as-service (SaaS) companies — like Zoho, Freshworks and others — have founded their own companies, a recent report by Bain &amp; Company revealed. The report noted that these 500 employees have created more than 5,000 employment opportunities. Some of these companies include Hippo Video, SurveySparrow, Facilio founded by ex Zoho employees, Slintel founded by former Eightfold employees and Niki founded by former Innovaccer employees. Freshworks and Chargebee are also founded by former employees of Sridhar Vembu-led Zoho Corporation. Collectively, Zoho has contributed nearly 133 entrepreneurs to the Indian startup ecosystem. <div type="image" title="Zoho, Freshworks and top Indian SaaS companies have given 500 entrepreneurs to the Indian Startup ecosystem" msid="88145268" hostid="261"></div> The report further suggests, “50% of founders, new companies, and resulting job opportunities are coming from emerging <keyword id="9700532" type="General" weightage="20" keywordseo="indian-saas" source="Orion">Indian SaaS</keyword> companies.” The Indian SaaS report of 2021 further highlighted that the Indian SaaS companies — both old and new — have so far created over 62,000 jobs in India this year alone. These job opportunities are spread across professionals skilled in cloud, artificial intelligence and machine learning, product management and advanced analytics like data engineers, data scientists and more. <div type="image" title="Zoho, Freshworks and top Indian SaaS companies have given 500 entrepreneurs to the Indian Startup ecosystem" msid="88145301" hostid="261"></div> Indian SaaS companies are poised to reach $30 billion in revenue, capturing 8% to 9% share of the global SaaS market by 2025, the report by Bain &amp; Company added. Meanwhile, a report by investment firm Chiratae Ventures and consulting firm Zinnov released in June noted that the Indian SaaS segment has the potential to clock a <a href="https://www.businessinsider.in/tech/enterprise/news/amazon-twitter-hyundai-and-dominos-are-buying-indian-software-fuelling-a-75-billion-dream-chased-by-top-vcs-like-sequoia-and-tiger-global/articleshow/85646116.cms">total turnover of $75 billion by 2025</a>. The Bain &amp; Company report also noted that the investment in this space is expected to reach $4.5 billion in 2021. “While the overall growth in funding has been driven by an increase in deal volume across stages, there has been notable growth in the volume of deals larger than $50 million, as investors give a clear vote of confidence in the potential of Indian SaaS companies to achieve substantial future growth,” Arpan Sheth, who is a partner and leader at Bain &amp; Company’s Global Vector Solution Group, said. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/indigo-stock-gains-as-a-plea-to-shut-down-spicejet-has-been-admitted/articleshow/88138734.cms" style="">Indigo stock gains as a plea to shut down SpiceJet has been admitted</a> <a href="https://www.businessinsider.in/business/news/zoho-is-selling-its-video-calling-app-in-as-many-ways-as-possible/articleshow/88137006.cms" style="">Zoho is selling its video calling app in as many ways as possible</a> <a href="https://www.businessinsider.in/india/news/these-are-the-states-with-confirmed-cases-of-omicron-covid-19-strain-in-india/slidelist/88138240.cms" style="">Omicron in India — Maharashtra and Rajasthan have recorded 19 positive cases so far</a>

Zoho, Freshworks and top Indian SaaS companies have given 500 entrepreneurs to the Indian startup ecosystem

<ul><li><keyword id="6530028" type="UNKNOWN" weightage="20" keywordseo="kris-gopalakrishnan">Kris Gopalakrishnan</keyword>, co-founder of Infosys and Chairman of Axilor Ventures is betting on India’s <keyword id="675306" type="PERSON" weightage="20" keywordseo="Tech-startups">tech startups</keyword> to build on the opportunities during the coronavirus pandemic. </li><li>In an interaction with Sudhir Sethi of Chiratae Ventures, Gopalakrishnan said that Jio’s scoop of investments are just a reminder of India’s magnetic attraction for investments. </li><li>But the Indian venture and private equity capital has 95% to 96% traditionally been international capital and the need for domestic capital is now greater than ever. </li></ul>India has been hoping that the next <keyword id="6355629" type="DEFINITION" weightage="20" keywordseo="google">Google</keyword>, <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword> or <keyword id="6354576" type="UNKNOWN" weightage="20" keywordseo="facebook">Facebook</keyword> will be born on its soil. But what makes a company Indian will be the ownership and that is where investors have been penny wise and the regulations less than conducive. This is the grouse of Kris Gopalakrishnan, one of the seven founders of $40 billion Infosys. “We have to create Indian VC (venture capital) firms. We have to create Indian funds that are billion dollars or ten billion dollars. The wealth is there, you know, whatever data we have shows that you know, maybe two trillion to three trillion dollars of wealth is there in private hands in India. So some of that has to actually flow into this ecosystem,” Gopalakrishnan said. “You can directly invest, you can invest through funds you can invest fund of fund, in other various mechanisms that are available,” he added. In an conversation with Sudhir Sethi of Chiratae Ventures ⁠— which has placed bets on unicorns like FirstCry, Lenskart etc.-- Gopalakrishnan, who now runs the 6-year old Axilor Ventures, cited the slew of investments into Mukesh Ambani-owned Reliance Jio showed that foreign investors are looking beyond the COVID-19 crisis and the opportunities in India. <div type="image" title="BI212" msid="76243570" hostid="261"></div> “Google is looking at Vodafone, Microsoft is also looking at Jio. So this is enforcing the story that if you look beyond covid all the things that I talked about India being an attractive destination for talent innovation and markets, all of them are true and that nothing has changed during business we have just taken a temporary break,” said Gopalakrishnan, who invests ₹20 crore in startups every year and has over 100 companies in Axilor’s portfolio. The need for India and India’s needs The Indian government has used the <a href="https://www.businessinsider.in/india/news/pm-narendra-modi-announces-a-20-lakh-crore-financial-stimulus-for-a-self-reliant-india/articleshow/75700217.cms">stimulus</a> meant to fight COVID-19 crash as an opportunity to revive the ‘Make in India’ programme, which aims to boost local manufacturing. The Modi government hopes that companies that are now looking to move facilities out of China ⁠— partly due to the pandemic and partly due to escalating tensions between US and China ⁠— will want to move to India. The government may be hoping for too much too soon. “The changes in the physical space take more time than changes in the digital space,” Gopalakrishnan said, highlighting that immediate opportunities are in the tech sector⁠— from telecom giants like Jio, Vodafone, and Airtel to emerging startups. The space for more unicorns Gopalakrishnan believes that gives Indian startups have an edge over the bigger and older firms and that makes them attractive to both investors and the government. “In my discussions with the government offic ials, they said startups responded faster than established companies because they had less bureaucracy and less worries about you know, what impact it would have on the business etc,” he said, adding that India “will have a large number of unicorns,” and “significant investments coming into India to take advantage of the opportunity.” And some of this money should flow into research and development as well. "..you know less than 0.1% of private investment is going into R&amp;D in India,” he added. Waiting for foreign capital is a loss of opportunity Reliance Jio attracted six new investors in the last six weeks, and all of them were foreign. “Now the Indian venture and private equity capital has 95% to 96% traditionally been international capital… whereas in other countries it is more than fifty percent namely China and technically if you take Europe and the US it's all domestic capital anyway,” Sethi said. Gopalakrishnan couldn't agree more. “We need some of these companies to be owned by Indians, right so that you know, it's not just about ownership it's about the wealth creation effect of this right that's why I would encourage all Indian funds, family offices to look at a portion of their investable wealth to go to these class of assets, these startups,” he chimed in. Will the COVID-19 crisis help the cause or stall it? Kris Gopalakrishnan, one of the co-founders of India’s largest IT company Infosys, had become the CEO of the company in 2007, when it all looked rosy. Within a year of his tenure, he was hit with the financial crisis of 2008. But Gopalakrishnan and Infosys sailed through the crisis and emerged stronger. And now, when India is in the midst of another global crisis – the coronavirus pandemic – Gopalakrishnan believes it's just a temporary break from all the great things Indian companies have set out to achieve. SEE ALSO:<a href="https://www.businessinsider.in/transportation/news/evs-in-india-may-not-reduce-oil-dependency-or-low-carbon-emissions-hydrogen-fuel-may-be-better-answer/articleshow/76227728.cms">Oil dependency and carbon emissions — EVs may not be India’s answer to reducing either, say experts</a> <a href="https://www.businessinsider.in/business/news/mubadala-to-buy-1-85-pc-stake-in-jio-platforms-for-rs-9093-6-cr/articleshow/76205654.cms">Reliance Industries market value crosses ₹10 lakh crore thanks to Jio's deal with Mubadala</a>

Infosys co-founder explains how the next Google, Facebook or Amazon can be born out of India

<ul><li>The Indian SaaS segment has the potential to clock a total turnover of $75 billion by 2025.</li><li>One in five global <keyword id="6361043" type="General" weightage="20" keywordseo="software" source="Orion">software</keyword> demand is likely to be met by Indian <keyword id="6756963" type="General" weightage="20" keywordseo="saas-companies" source="Orion">SaaS companies</keyword> in the next four years, according to experts.</li><li>On one hand large global corporations, even tech giants like Amazon and Twitter, are buying software solutions from India.</li><li>This has led to a mad rush from venture capitalists who have pumped in $1.7 billion into these startups in 2020.</li><li>Seven unicorns have been created in this space in the last year and a half alone.</li></ul>The sudden change in global trends and the rise of ‘remote everything’ — from learning to work — has propelled the software-as-a-service (SaaS) industry. And their customers include marquee names like Amazon, Twitter, <keyword id="596" type="General" weightage="20" keywordseo="hyundai" source="Orion">Hyundai</keyword>, Domino’s, and Philips, just to name a few. Venture capital firms like Accel, Tiger Global and Sequoia, looking for the next gold rush, have pumped in $1.7 billion across 128 deals in 2020, and more in 2021, creating at least seven unicorns in the space of less than 20 months, in India alone. Enterprise tech accounted for 13% of deal volume among top investors in the first half of 2021, says a NASSCOM PGA Labs report. According to a report by investment firm Chiratae Ventures and consulting firm Zinnov last month, the Indian SaaS segment has the potential to clock a total turnover of <a href="https://www.businessinsider.in/business/startups/news/india-software-service-sector-needs-more-than-200000-employees-by-2025/articleshow/84632003.cms">$75 billion</a> by 2025. But where will this revenue come from? The answer is simple — market and product expansion. As the world stepped into a lockdown in March 2020, the SaaS companies had a new reality to face — the demand for softwares and solutions that required limited/no physical efforts and showed faster results was the need of the hour. More enterprises were on a hunt for tech solutions in the latest virtual scene and SaaS companies started seeing more customer interest. The increased customer interest also resulted in increased flow of venture capital for this segment and India added seven SaaS unicorns — private companies valued at or more than $1 billion — during the pandemic since 2020. <div type="image" title="Amazon, Twitter, Hyundai, and Domino’s are buying Indian software fuelling a $75 billion dream chased by top VCs like Sequoia and Tiger Global" msid="85647410" hostid="261"></div> While the investors’ interest brought in more money for the SaaS companies to grow, the increased customer interest has brought in more revenue. Zoho, which is a 25-year old bootstrapped company that has not raised funds so far, has customers like Amazon, Zomato and Xiaomi. Here's Sridhar Vembu, the founder of Zoho, explaining the software boom, in a recent interview with Business Insider. <div type="Video" msid="85650341" hostid="261" title="Zoho founder explains India's software boom in the last 24 months" dataSource="BUSINESSINSIDER" thumbUrl="https://denmark.timesinternet.in/cmslite/api/app/images.jpg?msid=85650341"></div> Conversational artificial intelligence (AI) solutions company Uniphore ⁠— backed by Cisco, Sistema Capital Partners and ⁠Chiratae Ventures — claims to have noted a 3-fold year-on-year increase in their revenue in the financial year 2021, meanwhile contract management system has termed this fiscal the best one for them. Similar trend of increased revenue has been witnessed by most of the big SaaS names in India. Backed by Google and led by founder Girish Mathrubootham, help desk software company Freshworks ⁠— which has bagged contracts from Vice Media Group, Toshiba and Cisco ⁠— claimed to have crossed $300 million in annual recurring revenue (ARR) in February 2021. ARR is a metric used by SaaS businesses to show the revenue one can expect on a yearly basis. “It’s no secret that the future of business and scale is SaaS-driven, more so in the post-pandemic landscape. What’s interesting however is how quickly Indian companies have set a global benchmark for the industry. The exponential growth unlocked in the last 5 years is a testament to how capital efficient the Indian SaaS industry is,” Venkatesh Peddi, executive director and head of SaaS investments at Chiratae Ventures, previously said. One in five global software demands will be met by Indian SaaS companies in the next four years, Chiratae-Zinnov report added. What are Indian startups doing to attract these customers? With enough revenue and funding to aid sustain and grow their businesses, Indian SaaS companies have now put in greater focus on penetrating deeper into the international markets. <div type="image" title="Amazon, Twitter, Hyundai, and Domino’s are buying Indian software fuelling a $75 billion dream chased by top VCs like Sequoia and Tiger Global" msid="85647440" hostid="261"></div> Monish Darda, co-founder and chief technical officer (CTO) of Icertis, talked to Business Insider about the three important aspects for international expansion for any SaaS business. First, ensuring that the technology is in accordance with the market one if planning to enter. Second, readiness from the team perspective and having local workforce who understand the market well. Third, cracking right partnerships to expand business. “If you look at contract management, you will see that for India we will not only integrate electronic signatures from Adobe Sign, which are global, but also add e-Mudhra which is a very Indian specific digital signature. You always have these different things in different markets that you need to cater to, to be successful. So there is technology,” he explained. Ankur Bansal, co-founder of BlackSoil Capital, in an interaction with Business Insider said that it’s almost a given for all SaaS companies, who have found their product-market fit, to think global. Having global customers changes the valuation of a SaaS company “dramatically” and offers much better margins to the company. “In terms of the size of the contract, the understanding of it and the speed of execution — everything on all counts in favour of a SaaS company… Anyway SaaS business margins are great, and on top of it if the company is catering to customers based out of the US or Europe then it becomes way better,” Bansal added. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/infosys-airtel-kaveri-seed-and-other-top-stocks-to-watch-out-for-on-august-26/slidelist/85645299.cms">Infosys, Airtel, Kaveri Seed and other top stocks to watch out for on August 26 </a> <a href="https://www.businessinsider.in/personal-finance/news/investors-will-be-able-to-open-fixed-deposit-accounts-fds-on-google-pay/articleshow/85646488.cms">Google Pay to let users open fixed deposits on its platform </a> <a href="https://www.businessinsider.in/science/news/popular-pro-vaccine-reddit-page-calls-on-founders-to-do-more-to-combat-covid-19-disinformation/articleshow/85639053.cms">Popular pro-vaccine Reddit page calls on founders to do more to combat COVID-19 disinformation</a>

Amazon, Twitter, Hyundai, and Domino’s are buying Indian software fuelling a $75 billion dream chased by top VCs like Sequoia and Tiger Global

<ul><li>According to StartupBlink, India ranks 19th in the world <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">coronavirus</keyword> innovation map. </li><li>On the innovation map, India has 0.16 score while the USA has 4.28. </li><li>The United States of America tops the list followed by Canada and Estonia. The US has a score of 4.28. </li></ul>As the coronavirus pandemic spreads, startups and organizations have been working day and night on innovations that will help people across the world. According to StartupBlink, which has a global comprehensive startup ecosystem map and research centre, India ranks 19th in the world coronavirus innovation map. On the innovation map, India has 0.16 score. Meanwhile, the United States of America tops the list followed by Canada and Estonia. The US has a score of 4.28. “The first run of the rankings reveals an interesting insight that some of the cities that have been badly hit by the crisis such as New York, Milan, Paris, London, Beijing, and Barcelona, are the ones that have been mostly over-performing in the charts. This is counterintuitive since those cities are in a major crisis, but still, manage to excel and innovate due to the needs they are facing,” said the report by <a href="https://www.startupblink.com/blog/introducing-coronavirus-innovation-rankings/">StartupBlink.</a> India currently has over 17,200 positive coronavirus cases. Since late March, more and more organizations have been turning their businesses around to support the government during the coronavirus pandemic. In his most recent speech, Indian Prime Minister Narendra Modi also urged scientists and researchers to come forward with innovative solutions to deal with the coronavirus. While factories have started producing masks, testing kits and PPE kits, startups have pivoted to build a use case during the coronavirus pandemic. The first Made in India testing kit from Pune based startup MyLabs also recently received commercial approval. India’s top VCs – Sequoia India, Matrix Partners, SAIF Partners, Lightspeed Ventures, Kalaari Capital, Accel, Chiratae Ventures, Omidyar Network and Nexus Partners along with several startup founders, launched a ₹100 crore grant to fund ideas that will lead the fight against the coronavirus pandemic. The grant is purely charitable with no financial interest. The initial grants will be for ₹10 lakh but once the startup can prove a product-market fit, the investment can go as high as ₹10 crore per idea. So far, the VCs committed ₹2.5 crore to startups like IVR project, MyLab and Ventilator Splitter. See Also: <a href="https://www.businessinsider.in/business/startups/news/india-top-venture-capitalists-sequoia-matrix-accel-and-others-set-up-100-crore-grant-to-fund-startups-with-ideas-to-fight-covid-19/articleshow/74929460.cms">India’s top VCs set-up ₹100 crore grant to fund ideas to fight Covid-19</a>

You Searched For "Chiratae startup deals" and got 5 results

Amazon wins the case to hold Mukesh Ambani’s Reliance from buying Kishore Biyani’s Future Retail

Kritti Bhalla

Zoho, Freshworks and top Indian SaaS companies have given 500 entrepreneurs to the Indian startup ecosystem

Kritti Bhalla

Infosys co-founder explains how the next Google, Facebook or Amazon can be born out of India

Sriram

Sanchita

Amazon, Twitter, Hyundai, and Domino’s are buying Indian software fuelling a $75 billion dream chased by top VCs like Sequoia and Tiger Global

Kritti Bhalla

India ranks 19th in Covid-19 global innovation map

Sanchita Dash

Popular Keywords

Buying Guides