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<ul><li>Indian startup sector witnesses a rise in job losses, with over 27,000 tech employees affected and numbers increasing.</li><li>Nearly 26,868 employees have been handed over pink slips by 98 startups.</li><li>At least 22 <keyword id="1464841" type="General" weightage="80" keywordseo="edtech" source="Orion">edtech</keyword> startups have slashed 9,781 jobs to date.</li></ul>At least 27,000 tech employees at Indian startups have lost their jobs since the funding winter crept in last year, and the list is only growing. Nearly 26,868 employees have been handed over pink slips by 98 startups, including unicorns led by the edtech majors, according to data by leading startup news portal Inc42. At least 22 edtech startups have slashed 9,781 jobs to date. In the first five months into 2023, more than 8,000 employees lost their jobs in India by nearly 50 startups. Homegrown virtual events platform Airmeet sacked about 30 per cent of its workforce, or at least 75 employees, according to the report. Corporate expense management platform Happay, owned by credit Card bill payment provider CRED, slashed nearly 35 per cent of its workforce as part of a restructuring exercise. Another homegrown edtech startup Teachmint laid off over 70 employees, its second round of job cuts after sacking about 45 workers more than five months ago. <keyword id="12864" type="General" weightage="80" keywordseo="chennai" source="Orion">Chennai</keyword>-based edtech startup Skill-Lync laid off employees as it consolidates operations across Chennai, Bengaluru, and <keyword id="6354552" type="General" weightage="50" keywordseo="hyderabad" source="Orion">Hyderabad</keyword> amid global macroeconomic conditions. The year 2023 has become the worst year for tech employees as nearly 2 lakh tech employees -- from Big Tech firms to startups -- have been sacked to date globally, as companies like <keyword id="399907" type="General" weightage="50" keywordseo="meta" source="Orion">Meta</keyword>, BT, <keyword id="15492" type="General" weightage="50" keywordseo="vodafone" source="Orion">Vodafone</keyword> and many others announced further plans to lay off more employees in coming months. As per the data by layoffs tracking site Layoffs.fyi, 695 tech companies have shown the doors to around 1.98 lakh employees so far this year. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/is-whatsapp-secretly-listening-to-your-private-conversations-heres-how-to-check/articleshow/100155980.cms">Is WhatsApp secretly listening to your private conversations? Here’s how to check</a> <a href="https://www.businessinsider.in/tech/news/google-pixel-6a-vs-pixel-7a-smartphone-comparison-with-price-and-features/articleshow/100177889.cms">Google Pixel 6a vs Pixel 7a: Is Google's latest mid-ranger worth the extra ₹12,000?</a>

About 27K employees lost jobs at Indian startups to date, over 8K this year

Global mobility fintech startup <keyword id="20582833" type="General" weightage="20" keywordseo="moove" source="keywords">Moove</keyword> on Wednesday said it has raised $10 million in new debt funding from leading venture debt fund <keyword id="19952355" type="General" weightage="20" keywordseo="stride-ventures" source="keywords">Stride Ventures</keyword> to expand its <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> footprint. The fresh capital will be utilised to scale the Indian fleet to over 5,000 and expand into new markets including Delhi, Pune and Kolkata, the startup said in a statement. "Our vehicles have completed over 4.2 million trips, significantly impacting India's mobility sector. With the robust support of Stride Ventures, we stand on the cusp of transforming vehicle ownership nationwide, propelling our mission forward," said <keyword id="20582834" type="General" weightage="20" keywordseo="binod-mishra" source="keywords">Binod Mishra</keyword>, Regional Managing Director, India and South Asia, Moove. Gurugram-headquartered Moove has established its presence in Bengaluru, Mumbai and Hyderabad. "Our alliance with Moove is set to transform vehicle ownership accessibility throughout India, marking a significant leap towards social and economic advancement," said <keyword id="20582835" type="General" weightage="20" keywordseo="apoorva-sharma" source="keywords">Apoorva Sharma</keyword>, Managing Partner at Stride Ventures. Operating in nine markets across Africa, the Middle East, Europe and Asia, Moove has emerged as Uber's top vehicle supply partner in Europe, the Middle East and Africa (EMEA) and its largest global fleet partner. Currently, over 30 million trips have been completed in Moove-financed vehicles globally, said the startup. The company uses technology and productivity data to build an integrated, revenue-based vehicle financing platform for mobility entrepreneurs in emerging markets around the world who have limited or no access to a vehicle or vehicle financing. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/poco-oneplus-top-indian-smartphone-shipment-growth-but-overall-reading-flat/articleshow/107681294.cms">Poco, OnePlus top Indian smartphone shipment growth but overall reading flat</a> <a href="https://www.businessinsider.in/tech/mobile/news/seven-out-of-top-10-smartphones-sold-worldwide-in-2023-were-iphones/articleshow/107617907.cms">Apple domination: Seven out of top 10 smartphones sold worldwide are iPhones</a> <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-february-2024/slidelist/107220575.cms">Samsung to Nothing – The upcoming smartphones hitting Indian market in February</a>

Mobility fintech startup Moove raises $10 mn to expand India footprint

The three nano-satellites developed by startups which were successfully placed into orbits during Saturday's PSLV C54/EOS-06 mission would have significant bearing in the private sector's future endeavours, a top official of space regulator Indian National Space Promotion and Authorisation Centre (IN-SPACe) said. Apart from the primary payload -- an Earth Observation Satellite (Oceansat) and five other co-passenger satellites -- the Polar Satellite Launch Vehicle C54 successfully placed Thybolt-1 and 2 satellites, 'Anand' nano-satellites developed by space startups Hyderabad-based <keyword id="2623423" type="General" weightage="80" keywordseo="dhruva-space" source="Orion">Dhruva Space</keyword> and Bangalore-based Pixxel, respectively. IN-SPACe is an autonomous body under the Department of Space. IN-SPACe and <keyword id="116095" type="General" weightage="50" keywordseo="indian-space-research-organisation" source="Orion">Indian Space Research Organisation</keyword> (ISRO) facilitated the launch of Thybolt-1 and 2 and 'Anand' satellites onboard PSLV-C54, a press release said. "We stand witness to yet another successful launch by ISRO today. For the private sector, it is indeed a remarkable feat as <keyword id="3722" type="General" weightage="80" keywordseo="dhruva" source="Orion">Dhruva</keyword> space and Pixxel successfully executed their missions," IN-SPACe chairman Pawan K Goenka said. "One of the private firms to be granted approval for payloads launch by IN-SPACe, Dhruva Space is leading the way in the development of indigenous satellites, while Pixxel takes another step towards building a constellation of hyperspectral imaging satellites with the successful launch of Anand," he said. "These launches by Indian startups will have significant bearing on the Indian private sector's future endeavours in space," Goenka said. The indigenously developed satellites by Dhruva Space would contribute towards augmenting amateur communications and can be used for communication during disaster management, and low bit-rate applications. "This is a moment we have long been preparing for and we are truly grateful to all the support IN-SPACe has given in bringing this mission to fruition right from authorisation to execution" Dhruva Space Pvt Ltd CEO Sanjay Nekkanti said. "We are also grateful to the Department of Space, ISRO and <keyword id="10244841" type="General" weightage="50" keywordseo="newspace-india-ltd" source="Orion">NewSpace India Ltd</keyword> for their assistance," he said. PSLVC54 successfully placed EOS-06 (Oceansat) and eight nano satellites including BhutanSat and four Astrocast satellites from Spaceflight USA along with 'Anand' from Pixxel and two Thybolt satellites from Dhruva Space. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/musk-reveals-twitter-2-0-says-top-software-aces-joining-company/articleshow/95801283.cms">Musk reveals Twitter 2.0, says top software aces joining company</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/risk-management-must-be-driven-by-understanding-of-what-is-good-for-corporate-ex-chairman-sebi/articleshow/95800960.cms">Risk management must be driven by understanding of what is good for corporate: Ex-chairman Sebi</a>

Nano-satellites built by startups augurs well for private sector's future endeavours: IN-SPACe

<ul class="summary-list"><li>The H-1B visa program is undergoing changes.</li><li>Under the new process, all individuals have the same chance of being selected in the lottery.</li></ul>A new reform to the US H-1B visa program aims to ring out some of the uncertainty for migrant workers and employers.The US Citizenship and Immigration Services recently <a target="_blank" href="https://www.uscis.gov/newsroom/news-releases/uscis-announces-strengthened-integrity-measures-for-h-1b-program">said</a> it finalized measures to make sure each applicant has the same chance of being selected for the H1-B visa program, the nation's largest temporary work visa program with over 600,000 workers across 50,000 employers.Each year, tens of thousands of foreign nationals wind up at venture-backed companies through the employment-based visa program. Tech companies like Stripe, Plaid, and X, formerly known as Twitter,<a target="_blank" href="https://www.businessinsider.com/us-startups-sponsor-h1b-work-visas-2024-1"> use the H-1B visa to fill labor shortages</a> for jobs that require a college degree, by providing work authorization for migrant workers in fields like engineering, business admin, and mathematics.However, obtaining an H-1B visa remains challenging due to high demand. The program gets more interest than it can meet — with the number of yearly visas <a target="_blank" href="https://www.businessinsider.in/international/news/us-reaches-h-1b-cap-for-fiscal-year-2024/articleshow/106011187.cms">capped at 85,000</a> — so the government uses a lottery process to decide who comes in.The lottery has had a loophole that some have abused in past years to try to game the system. Nothing in the law had prohibited an individual from having multiple entries in the lottery if they can secure multiple job offers, said Jason Finkelman, an Austin<a target="_blank" href="https://www.businessinsider.com/immigration-attorneys-lawyers-helping-startups-founders-entrepreneurs-secure-work-visas-2021-8"> immigration lawyer</a> who specializes in work visas. In theory, having more registrations in the lottery gave migrant workers more chances to win a coveted visa.Last year, the number of registrations filed on behalf of foreign nationals jumped to 780,000, a 61% increase over the previous year.<a target="_blank" href="https://www.uscis.gov/working-in-the-united-states/temporary-workers/h-1b-specialty-occupations-and-fashion-models/h-1b-electronic-registration-process"> Data shows</a> much of the increase was due to a record-breaking number of employers submitting multiple H-1B registrations for the same person. They might have set up unique corporate structures or banded with other companies to try and get around the rules."This led to many individuals being entered into the lottery multiple times, through different companies, and ultimately decreasing the odds of being selected in the lottery," Finkelman said.The new regulations aim to curtail this sort of behavior. Registrations will now be selected from a pool of unique individuals rather than the total number of entries. A <a target="_blank" href="https://www.businessinsider.com/hardest-software-engineering-interviews-ranked-2023-12">software engineer</a> in Hyderabad with one job offer has the same odds of being selected as the researcher in Beijing with a binder full of offers. USCIS said the new process takes effect in the lottery in April.These changes are good news for startups and small businesses, says <a target="_blank" href="https://www.businessinsider.com/h1b-visa-lottery-system-alternative-options-sponsorship-2021-2">Sophie Alcorn, an immigration lawyer based in Silicon Valley</a>. The reform makes it less attractive for applicants to secure multiple job offers, which should drive down the overall number of registrations. This improves the odds for startups that their applicant gets selected in the lottery."For a startup that's willing to sponsor, there's a higher likelihood that [an applicant] will go to work for that company that's willing to sponsor them," Alcorn said. "There's more predictability."Even before the reform, Finkelman said he saw inquiries from startups tick up because of the proposed changes."We're seeing increased interest from startups, which are in desperate need of top talent and which oftentimes require visa sponsorship [to fill roles], to enter candidates into the lottery," Finkelman said. "They see the playing field will be evened out."

Uncle Sam just overhauled the H-1B visa lottery, and that's good news for startups

<ul><li>The UK-based <keyword id="3165837" type="General" weightage="20" keywordseo="Fintech-company" source="Orion">fintech company</keyword> is looking forward to hiring 600 tech professionals by the end of 2026.</li><li>Earlier this year in June, the financial services company also announced its hiring plans of 1,000 people in India.</li><li>Click <a href="https://www.businessinsider.in/newsletter-17-december-2021/binewsletter/88306447.cms?utm_source=bi&amp;utm_medium=email_newsletter&amp;utm_campaign=Business_Insider_Newsletter">here</a> for simple, fun and yet insightful explainers on the hottest news developments every week.</li></ul><keyword id="45792" type="General" weightage="20" keywordseo="Tide" source="Orion">Tide</keyword>, a United Kingdom-based financial and banking services platform, is looking forward to hiring 600 tech professionals by the end of 2026 for its office in Hyderabad, which is the tech centre of the company in India. The neobank ⁠— which operates in partnership with RBL Bank in India ⁠— needs 300 engineers, with a particular focus on backend engineers in Java and Python, across various roles. It is also looking for experts in data science and Flutter. Founded in 2015 and launched in 2017, the fintech ⁠— valued at $650 <a href="https://timesofindia.indiatimes.com/business/india-business/tide-raises-100-million-in-series-c-funding/articleshow/84341739.cms">million</a> ⁠— will include training and hiring fresh graduates from institutes like Indian Institutes of Technology (IIT), National Institute of Technology (NIT) through an ‘Internship to hire’ programme. Interns who successfully complete the programme will be offered a full-time opportunity. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">What is Tide? </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">What does it do? </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">A digital financial and banking services platform with its India headquarters in Hyderabad and Gurgaon. </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Offers business accounts, related banking services and administrative solutions to small and mid-size enterprises (SMEs) </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Earlier this year in June, the financial services company also announced its hiring plans of 1,000 people in India. “So out of 1,000, 200 have already been hired and overall, we have a team size of over 350 today in India,” <keyword id="12753669" type="General" weightage="20" keywordseo="gurjodhpal-singh" source="Orion">Gurjodhpal Singh</keyword>, chief executive officer (CEO) at Tide (India) told Business Insider in an interaction. Other than tech professionals, the company will also be hiring people across business profiles for their Gurugram office, which is the business hub of the company. He further said, “Along with techies, we are also actively hiring for business teams and business roles. So that is another aspect of the 1,000 employees that we are looking to hire.” When asked about how the company will fund the new hiring plans, he said, “We have raised a decent Series-C earlier this year. So, both these put together put us in a position where now we can invest into further growth and that is what we are intending to do. Our growth journey will also be focused on growing in terms of revenue and market share. All that will go into investing into a larger team and building a more robust product.” <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total funding raised so far </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Key investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Key competitors </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$195.2 million Source: Crunchbase </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Augmentum Fintech, Apax Digital, Passion Capital and SBI Group </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">InstantPay, Open, Revolut etc. </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> In an interview with Business Insider, Singh, also mentioned the aggressive growth plans in India in the next five years but did not reveal much details. He said, “ We have aggressive growth plans for the next 5-years. Considering that India has 10% of global SMEs, our aspiration is to impact 25% of the global SME base through Tide.” Singh mentioned his plans about launching new products in the Indian market and setting up of new offices in different states of the country. “ In parallel we will also be expanding our product foothold across the country, apart from Delhi and Hyderabad with our banking partner (RBL Bank). We're a very open and agile organization and would be open about moving into some more cities as well in India if need be. But for now, this is the plan,” said Singh. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/bank-of-baroda-recruitment-check-all-the-details-including-eligibility-last-date-to-apply/articleshow/88383348.cms">Bank of Baroda is looking for at least 52 engineers in Mumbai and Hyderabad to improve the app, user experience and quality</a>

British neobank Tide wants to hire 600 techies and business execs in Hyderabad and Gurugram

<keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>'s leading private space-tech company, Skyroot Aerospace has raised an additional $27.5 million, equivalent to ₹225 crore, in a pre-Series C funding round led by Temasek, a global investment company headquartered in Singapore. The present capital infusion builds upon the company's previous raise in 2022, bringing its total funding to USD 95 million, which is the largest ever for an Indian Space-tech startup. Skyroot plans to utilize the newly acquired capital to drive its next phase of growth through increased investments in infrastructure, reinforcement of its technology leadership, attraction of top-tier talent, and the enhancement of its launch frequency and capabilities, all while maintaining a lean and agile core team, the Hyderabad-headquartered company said in a statement. Founded in 2018 by space scientists-turned-space entrepreneurs, <keyword id="6364836" type="General" weightage="80" keywordseo="pawan-kumar" source="Orion">Pawan Kumar</keyword> Chandana and <keyword id="7537906" type="General" weightage="80" keywordseo="naga-bharath-daka" source="Orion">Naga Bharath Daka</keyword>, Skyroot is the country's leading private space launch vehicle company. In November 2022, it successfully launched India's and South Asia's first, and till date the only, privately developed rocket, marking Indian private space sector's entry into the space launch market. As the leading player in small and medium space launch vehicle designing and building in India's private sector, the company offers on-demand, cost-effective, reliable and regular space launch services to the fast-expanding global small and medium-sized satellite market, with satellite operators who look to deploy single or constellations of satellites across orbits as its customers. Skyroot was the first startup to sign a memorandum of understanding (MoU) with the <keyword id="116095" type="General" weightage="50" keywordseo="indian-space-research-organisation" source="Orion">Indian Space Research Organisation</keyword> (ISRO). The collaboration grants Skyroot access to ISRO's cutting-edge facilities and unparalleled expertise. Skyroot is poised to transform space launch capabilities of the country with its Vikram series of rockets, specially designed to deploy small and medium-sized satellites into space efficiently and reliably. "As we prepare for the launch of our second mission early next year, this new funding will enable us to accelerate our upcoming launches planned over the next two years. India's successful moon landing mission has reignited global interest in India's space prowess. As a key player in India's private space industry, we are amplifying our capabilities to tap into the expanding global satellite launch market with a goal to emerge as a favourite 'go-to' choice in space launch services for small satellites," said Pawan Kumar. Bharath Daka said this fund-raise would help the company to invest in the enhancement of production infrastructure, R&amp;D and team strength. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-and-suv-in-november-2023/slidelist/104817915.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-and-suv-in-november-2023/slidelist/104817915.cms" target="_blank">From the new Renault Duster to Tata Punch EV, upcoming cars launching in India this November</a> <a href="https://www.businessinsider.in/tech/news/delhi-woman-loses-50-lakh-in-sim-swap-scam-heres-how-you-can-stay-safe/articleshow/104745898.cms">Delhi woman loses ₹50 lakh in SIM Swap scam – Here’s how you can stay safe</a> <a href="https://www.businessinsider.in/tech/news/x-starts-rolling-out-audio-and-video-calls-heres-everything-you-need-to-know/articleshow/104716334.cms">X starts rolling out audio and video calls – here’s everything you need to know</a>

Space-tech company Skyroot raises ₹225 cr in pre-Series C funding

<ul><li><keyword id="3143174" type="General" weightage="20" keywordseo="pharmeasy" source="Orion">PharmEasy</keyword> currently has a workforce of 6,100+ employees, but it is planning to hire more people for its new development centers.</li><li>PharmEasy offers a range of services such as teleconsultation, medicine deliveries, and sample collections for diagnostic tests.</li><li>The company acquired Thyrocare in June 2021, which opened the door for its public listing this year.</li></ul>Online pharmacy company PharmEasy, which is working towards an initial public offering (IPO) soon, is looking to hire over 200 engineers for its new development centers in Hyderabad, Pune and the national capital region surrounding New Delhi. The Mumbai-based startup currently has a workforce of over 6,100 employees. Seven-year old PharmEasy claims that the initiative to launch a new development centre coincides with the increased digital adoption due to the Covid-19 pandemic. The company claims that this increased customer demand has also increased the demand for tech skills across the spectrum. “The new facilities will serve as a significant hub for driving development and innovation,” Abhinav Yajurvedi, chief technology officer (CTO) of PharmEasy. Founded by Dharmil Sheth, Dhaval Shah, Harsh Parekh, Hardik Dedhia, and Siddharth Shah, PharmEasy caters to the chronic care segment and offers a range of services such as teleconsultation, medicine deliveries, and sample collections for diagnostic tests. It operates a business-to-business (B2B) pharma marketplace with 6,000 consultation clinics with 90,000 partner retailers pan India. PharmEasy’s parent company API Holdings became the first Indian startup to acquire a publicly listed company, after it acquired A Velumani-led diagnostics chain Thyrocare Technologies for ₹4,546 crore ($612 million) in June. This acquisition has opened doors for the seven-year-old startup to list on the stock exchange directly. ALSO WATCH: PharmEasy's Founder Siddharth Shah Gets Candid On His Success Formula <div type="Youtube" id="mEdywVC7sPg" title="PharmEasy&amp;#39;s Founder Siddharth Shah Gets Candid On His Success Formula" thumbUrl="https://i.ytimg.com/vi/mEdywVC7sPg/mqdefault.jpg"></div> The company is looking at a dual listing or a reverse listing option, co-founder Siddharth Shah told Business Insider in a recent interview. A dual listing is a corporate structure in which two companies function as a single operating business through a legal equalisation agreement. A reverse listing, on the other hand, is acquisition of a private company by an existing public company, so that the private company can bypass the lengthy and complex process of going public. PharmEasy has also appointed five independent directors to its board, bringing the total tally to 12. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Person </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Past experience </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vineeta Rai </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Former IAS officer </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subramanian Somasundaram </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Titan’s former CFO </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dr Jaydeep Tank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gynecologist </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ramakant Sharma </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Founder of Livespace </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Deepak Vaidya </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Has decades of experience in the field of Pharmaceuticals, Micro-Finance, Healthcare and Private Equity </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/reliance-infra-reliance-industries-zomato-and-other-top-stocks-to-watch-out-for-on-september-13/slidelist/86156619.cms">Reliance Infra, Reliance Industries, Zomato and other top stocks to watch out for on September 13</a> <a href="https://www.businessinsider.in/international/news/the-first-transgender-person-elected-bishop-in-a-major-christian-church-wants-to-inspire-hope-and-expand-peoples-minds-about-trans-people/articleshow/83528986.cms">The first transgender bishop in a major Christian church wants to inspire hope and expand people's minds about trans people</a> <a href="https://www.businessinsider.in/entertainment/news/superhero-movies-have-a-deep-connection-to-9/11-and-it-shows-how-nyc-and-disney-capitalized-on-our-collective-grief/articleshow/86116230.cms">Superhero movies have a deep connection to 9/11, and it shows how NYC and Disney capitalized on our collective grief</a>

Online pharmacy startup PharmEasy is looking to hire 200 engineers in Hyderabad, Pune and Delhi before the IPO

<ul><li>The ongoing global economic contraction has trickled down to India with recruiters adopting a cautious approach to hiring.</li><li>India saw a 6 per cent drop in hiring activity (year-on-year) in October</li><li>Month-on-month job postings also saw a 5 per cent decline in the country.</li><li>Amid the slow down, jobs in automation showcased an increase (34 per cent) in hiring activity with companies maximising efficiency and productivity through tech.</li></ul>India saw a 6 per cent drop in hiring activity (year-on-year) in October, amid changing patterns in the start-up ecosystem, funding winter and fears of an upcoming recession, a report showed on Tuesday. Month-on-month job postings also saw a 5 per cent decline in the country. However, with companies ramping up internal initiatives to facilitate growth and government interventions in promising sectors, hiring projections for the coming months are expected to pick up, according to Monster Employment Index. The ongoing global economic contraction has trickled down to India with recruiters adopting a cautious approach to hiring. Amid the slow down, jobs in automation showcased an increase (34 per cent) in hiring activity with companies maximising efficiency and productivity through tech. Similarly, industries such as banking and finance and telecom did well, with technology driving innovation and growth in both sectors. Artificial intelligence and Blockchain are transforming the BFSI sector, while the onset of 5G is transforming the growth of telecom. "While macroeconomic conditions have pushed companies to adopt a watchful approach to hiring, the need for skilled talent is unlikely to ever go away. Hence, it is important that today's workforce upskill and reskill themselves on an individual and organisational level," said Sekhar Garisa, CEO, Monster.com, a Quess company. Tier 2 cities such as Coimbatore and Ahmedabad posted a marginal incline in job activity on an annual basis whereas demand fell in major metropolitan cities of India. Among tier 1 cities, hiring remained stable in Mumbai whereas metros such as Bangalore, Kolkata, Delhi-NCR and Hyderabad posted a downward trend in recruitment activities. Industries such as BPO/ITES and Media and Entertainment continued to demonstrate a declining hiring trend from the year-ago level. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/four-ipos-worth-5000-crore-to-open-this-week-all-you-need-to-know/articleshow/95361401.cms">Four IPOs worth ₹5,000 crore to open this week: All you need to know</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/policybazaar-operator-pb-fintechs-q2-loss-narrows-to-187-crore/articleshow/95361316.cms">Policybazaar operator PB Fintech’s Q2 loss narrows to ₹187 crore</a>

India saw 6% decline in hiring in October amid funding winter: Monster report

<keyword id="16492024" type="General" weightage="100" keywordseo="Homegrown-EV-charging" source="Orion">Homegrown EV charging</keyword> and <keyword id="16492025" type="General" weightage="20" keywordseo="mobility-solutions-company" source="Orion">mobility solutions company</keyword> <keyword id="14455900" type="General" weightage="20" keywordseo="Magenta-Mobility" source="Orion">Magenta Mobility</keyword> has raised $40 million in its Series B <keyword id="12999336" type="General" weightage="40" keywordseo="funding" source="ETB2B" meta.aliasname="funding" meta.entityname="funding" meta.entityid="7040">funding</keyword> in a mix of equity and debt, the media reported. Backed by <keyword id="16492026" type="General" weightage="20" keywordseo="Microsofts-global-startup" source="Orion">Microsoft's global startup</keyword> programme, the company closed $20 million in equity funding led by two global marquee investors, reports DealStreetAsia. The company raised $20 million in debt in the same round. Magenta is aiming to expand its geographical presence in cities including Hyderabad, Chennai, Delhi and Chandigarh. The company has a fleet of 600 3-wheelers and 4-wheelers across the country and expects to have over 4,000 in fiscal 2023-24, the report said. Last year, the Mumbai-based charging solutions provider announced its collaboration with Amazon <keyword id="13362851" type="General" weightage="40" keywordseo="india" source="ETB2B" meta.aliasname="india" meta.entityname="india" meta.entityid="7017">India</keyword>. Through this partnership, Magenta Mobility works with Amazon India to induct a fleet of <keyword id="12991107" type="General" weightage="40" keywordseo="electric-vehicles" source="ETB2B" meta.aliasname="electric vehicles" meta.entityname="electric vehicles" meta.entityid="7048">electric vehicles</keyword> including two and four-wheeler electric vehicles for its delivery partners in Hyderabad. Magenta Mobility's current list of customers includes all the major e-commerce businesses such as Amazon, Flipkart, Bigbasket, Porter and Udaan. It has a relationship with the electric-vehicle manufacturers such as Tata Motors, Mahindra Electric, Omega Seiki and Euler Motors. Magenta is a Series A funded company backed by HPCL and investors such as JITO Angel Network, LetsVenture, and Indian-American philanthropist, Dr Kiran Patel. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/renault-nissan-commits-5300-cr-to-tn-to-introduce-6-new-models-including-evs/articleshow/97867394.cms">Renault-Nissan commits ₹5,300 cr to TN; to introduce 6 new models including EVs</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/reliance-seeks-12-75-for-cbm-gas-ongc-wants-9-35/articleshow/97867864.cms">Reliance seeks $12.75 for CBM gas, ONGC wants $9.35</a>

EV startup Magenta Mobility raises $40 million in equity and debt

Energy tech startup <keyword id="12291737" type="General" weightage="80" keywordseo="exponent-energy" source="Orion">Exponent Energy</keyword> is aiming to power 25,000 electric vehicles by 2025 as it displayed its proprietary energy stack comprising battery pack, charging station and charging connector in Bengaluru on Monday. The company, in a statement, said it is looking to expand its operations to <keyword id="674224" type="General" weightage="50" keywordseo="delhi-ncr" source="Orion">Delhi NCR</keyword>, <keyword id="6358070" type="General" weightage="50" keywordseo="mumbai" source="Orion">Mumbai</keyword>, <keyword id="6354552" type="General" weightage="20" keywordseo="hyderabad" source="Orion">Hyderabad</keyword>, Chennai and <keyword id="5065" type="General" weightage="50" keywordseo="ahmedabad" source="Orion">Ahmedabad</keyword> by the end of this fiscal and is targeting to deploy 1,000 charging stations and 25,000 EVs powered by <keyword id="218039" type="General" weightage="100" keywordseo="exponent" source="Orion">Exponent</keyword>, by 2025. Exponent said its energy stack together unlocks a 15-minute rapid charge, and long battery life (3,000 cycle life warranty, 3 times the industry standard) - all done on regular LFP cells for the first time in the industry. Rapid charging kills range anxiety and the need for expensive, oversized battery packs, it said, adding that with this two-sided approach, EVs powered by exponent will be 30 per cent more affordable, which has been made possible by an optimised battery capacity (30 per cent smaller), and 5-year financing (powered by 3,000 cycle life warranty). Additionally, 15-minute rapid charging reduces EV charging cost by 33 per cent, the company claimed. Exponent's energy stack addresses two key problems that, for decades, prevented rapid charging on LFP cells - Lithium plating and extreme heat, it said. "We are building the future of energy that combines engineering with real world economics. For everyone to go electric, consumers need EVs that charge faster, last longer, and cost lesser," <keyword id="1358534" type="General" weightage="50" keywordseo="arun-vinayak" source="Orion">Arun Vinayak</keyword>, Co-founder and CEO of Exponent Energy, said. The company is ramping it up across India starting with <keyword id="157098" type="General" weightage="20" keywordseo="delhi-ncr" source="Orion">Delhi-NCR</keyword>, Mumbai, Hyderabad, Chennai and Ahmedabad, he added. The company said its 15-minute rapid charging also unlocks higher energy throughput enabling it to build a profitable and scalable EV charging network. SEE ALSO:<a href="https://www.businessinsider.in/entertainment/news/movies-and-tv-shows-releasing-in-august-2023/slidelist/102272332.cms" target="_blank"></a> <a href="https://www.businessinsider.in/entertainment/news/movies-and-tv-shows-releasing-in-august-2023/slidelist/102272332.cms" target="_blank">From Made in Heaven to Gadar 2 – Movies and OTT shows releasing in August</a><a href="https://www.businessinsider.in/tech/gadgets/news/honor-pad-x9-vs-realme-pad-2-which-tablet-should-you-buy/slidelist/102264679.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/gadgets/news/honor-pad-x9-vs-realme-pad-2-which-tablet-should-you-buy/slidelist/102264679.cms" target="_blank">Honor Pad X9 vs Realme Pad 2 – The new tabs under ₹20,000 to consider</a> <a href="https://www.businessinsider.in/business/news/hdfc-bank-and-swiggy-launch-co-branded-credit-card-to-offer-discount-to-customers/articleshow/102133212.cms">HDFC Bank and Swiggy launch co-branded credit card – cashback, offers and more</a>

Exponent Energy aims to power 25,000 electric vehicles by 2025

On Wednesday, the body of the last Nizam of <keyword id="6354552" type="General" weightage="100" keywordseo="hyderabad" source="Orion">Hyderabad</keyword> will be laid to rest here along with many unanswered questions about his life, inherited riches and his life away from India. Described by some as the 'story of the decline of the grandest hereditary princedom', the recorded life story of Nawab Mir Barket Ali Khan Walashan <keyword id="125800" type="General" weightage="80" keywordseo="mukarram-jah" source="Orion">Mukarram Jah</keyword> Bahadur, the titular eighth Nizam of Hyderabad, who passed away in Turkey on Saturday, is sketchy at best. Mukarram Jah, the Prince was proclaimed as the successor designate in 1954 by his grandfather and the Seventh Nizam of the erstwhile Princely State of Hyderabad Mir Osman Ali Khan. Since then he has been identified as the eighth and the last Nizam of Hyderabad. "For years I had read stories of the eccentric ruler of a Muslim state who counted his diamonds by the Kilogram, his pearls by the acre, and his gold bars by the tonne, yet who was so frugal he would save on laundry bill by bathing in his clothes," wrote John <keyword id="16082382" type="General" weightage="50" keywordseo="zubrzycki" source="Orion">Zubrzycki</keyword>, the author of The Last Nizam: The Rise and Fall of India's Greatest Princely State, while describing Mukarram Jah. Mukarram Jah was born in 1933 in France. His mother Princess Durru Shewar was the daughter of the last Sultan of Turkey (Ottoman Empire) Sultan Abdul Mejid II. <keyword id="16082383" type="General" weightage="50" keywordseo="prince-mukarram" source="Orion">Prince Mukarram</keyword> Jah was officially called the Prince of Hyderabad until 1971 when the titles and privy purses were abolished by the government, says senior journalist and a keen observer of Hyderabad's culture and its heritage, Mir Ayoob Ali Khan. Khan pointed out that Seventh Nizam made his grandson the successor to the gaddi instead of his first son Prince Azam Jah Bahadur. Therefore, Mukarram Jah succeeded as the eighth Nizam on the passing away of the last former reigning ruler of Hyderabad in 1967. After moving to Australia initially, for a good part of Prince Mukarram's latter half of his life, he had been residing in Turkey. "I had listened to improbably tales of a Darbar in the desert of Australia where an Indian Prince preferred driving diesel-belching bulldozers than riding in the howdah of an elegantly caparisoned, elephant.And I had heard rumours of a recluse living in Turkey who had arrived carrying two suitcases and a load of shattered dreams," the author John Zubrzycki wrote about the prince about their meeting at the latter's two-bedroom flat in Turkey. There is paucity of a record of the details of the modern day decline of the riches inherited by the Prince or even his grandfather. But, in his time, Mukarram Jah is never known to have taken kindly to anyone who recorded their lives in an undignified manner. According to Zubrzycki, when The Times ran a 1000 word obituary portraying the Seventh Nizam as a 'miser' and touched up on certain personal matters of his, "Jah shot back an equally long letter to the Editor. It was unjust to conjure up the image of a shabby man shuffling through his dream world, asserted Jah," writes Zubrzycki . Journalist Ayoob Ali Khan said people of Hyderabad had expected that Prince Mukarram Jah would do a lot of things, particularly for the poor, because he had inherited immense wealth from his grandfather who was the richest man in the world at one time. "However, it did not happen," he said. Mukarram Jah first married Princess Esra of Turkey in 1959. In an interview as told to Huma Bilgrami Latif published in Youandi.com, Princess Esra talks about her early married life in Hyderabad and how restoring inherited properties and palaces of family later became her passion. "I always wanted to do something for the city, but it was a bit difficult when I got married because my husband's grandfather was alive, and my life was very restricted back then. There was a certain way one had to behave, places one could go, and who one could see. After his death, however, we had the possibility to do things our way, but then we had enormous problems: the death duty, the tax was 98 per cent, etc." "Then our privileges were taken, and the land was taken; it was impossible to keep up one's dreams," Princess Esra is quoted as saying. "Later, I got divorced, and after 20 years, Mukarram Jah asked me to come back and help out in Hyderabad because everything was in a mess and there were big problems. When I came back, the whole place looked as if it was the loot of Delhi by <keyword id="12138556" type="General" weightage="50" keywordseo="nader-shah" source="Orion">Nader Shah</keyword>. There was nothing left; everything was taken. It was terribly sad, and I thought to myself that I have to give something of the family back to Hyderabad." " It was our duty," the Princess is quoted as saying while describing her efforts to renovate and restore the Chowmahalla Palace and Falaknuma Palace. Decades after this interview was published, today, it is the same Chowmahalla Palace where Mukarram Jah's mortal remains will first be taken to after arriving here in a chartered flight. Jah's body would be kept at the Khilwat Palace from 8 AM to 1 PM on January 18 to enable people to pay their last respects. The burial would take place at the Asaf Jahi family tombs here, a statement issued by an office of Prince Mukarram Jah had said. As per his desire of being laid to rest in India, his children are scheduled to travel to Hyderabad with the mortal remains of the late Nizam on January 17, the statement added. Telangana Chief Minister <keyword id="80355" type="General" weightage="50" keywordseo="k-chandrasekhar-rao" source="Orion">K Chandrasekhar Rao</keyword>, who condoled the death of Prince Mukarram Jah, directed officials to conduct his last rites with the highest State honours in recognition of his social services in the fields of education and medicine for the poor as the successor of the Nizam. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/ongc-reliance-industries-paytm-siemens-among-stocks-in-focus/articleshow/97045293.cms">Sensex, Nifty50 likely to open on a tepid note amid mixed global cues: ONGC, Reliance Industries, Paytm, Siemens among stocks in focus</a> <a href="https://www.businessinsider.in/business/corporates/news/hiring-by-it-cos-down-96-in-q3-compared-to-preceding-7-quarters-even-as-attrition-cools/articleshow/97023873.cms">Hiring by IT cos down 96% in Q3 compared to preceding 7 quarters even as attrition cools</a> <a href="https://www.businessinsider.in/business/news/zillionaire-this-startups-founders-walk-away-with-an-investment-double-the-original-ask-on-shark-tank-india/articleshow/97029721.cms">Bling and ka-ching! – This startup’s founders walk away with an investment double the original ask on Shark Tank India</a>

You Searched For "Hyderabad startups" and got 11 results

About 27K employees lost jobs at Indian startups to date, over 8K this year

IANS

Mobility fintech startup Moove raises $10 mn to expand India footprint

IANS

Nano-satellites built by startups augurs well for private sector's future endeavours: IN-SPACe

PTI

Uncle Sam just overhauled the H-1B visa lottery, and that's good news for startups

Melia Russell

British neobank Tide wants to hire 600 techies and business execs in Hyderabad and Gurugram

Vaamanaa Sethi

Space-tech company Skyroot raises ₹225 cr in pre-Series C funding

IANS

Online pharmacy startup PharmEasy is looking to hire 200 engineers in Hyderabad, Pune and Delhi before the IPO

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India saw 6% decline in hiring in October amid funding winter: Monster report

IANS

EV startup Magenta Mobility raises $40 million in equity and debt

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Exponent Energy aims to power 25,000 electric vehicles by 2025

PTI

Hyderabad's Nizamate comes to an end but the mystery shrouding a chequered saga continues

PTI

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