<ul><li>Over 11,000 people have lost their jobs so far this year and it could increase further to 60,000.</li><li>Experts predict that the flow of capital is expected to dry for the next 18-24 months.</li><li>In spite of the stress, funds that startups raised grew by 28.6% in funding value between January to April this year, according to a report by GlobalData.</li><li>Here are few startups that are looking to expand their workforce amid layoff season.</li></ul>Startups in India are facing the brunt of a funding winter and have laid off over 11,000 people so far. It could get worse as experts predict that over <a href="https://www.businessinsider.in/business/startups/news/indian-startups-have-already-laid-off-a-little-over-11000-people-in-the-last-six-months/articleshow/92541036.cms">60,000 </a>people could lose their jobs as the flow of capital is expected to remain dry for the next 18-24 months. According to Business Insider India’s calculations, 25 startups, mostly in the ecommerce and edtech space, have resorted to retrenchments. Seven unicorns — Ola, Blinkit, Unacademy, Vedantu, Cars24 and Mobile Premier League (MPL) — were part of the firing list too. In spite of the stress, funds that startups raised grew by 28.6% in funding value between January to April this year, according to a report by GlobalData. It also said that Indian startups raised $12.1 billion till April – via 672 venture capital deals. It means, a few, if not many have the space and funds to grow. Here’s a list of startups that are looking to expand their workforce this year. 1. E-learning platform Utkarsh to hire 500 people Edtech startup Utkarsh is planning to recruit 500 employees from tier 2 and 3 cities by the end of FY23. It is focussing on hiring from Hindi-speaking states like Rajasthan, Uttar Pradesh, Haryana, Bihar and Madhya Pradesh. The company plans to hire senior leadership, educators, and expand their new sales and customer service team. 2. Unicorn LeadSquared to ramp up its employee headcount by 800 SaaS-based marketing automation company LeadSquared, which recently turned into a unicorn after raising $153 million in a series C round, said that it’s looking to double its headcount in a year and a half. This Nilesh Patel-led company will be hiring 800 people over the next few months across sales and marketing, finance, product, engineering, delivery and support functions, as cited by <a href="https://yourstory.com/2022/06/layoffs-saas-startups-hiring-india/amp">YourStory</a>. 3. HappyLocate to hire 600 people by FY23 Tech-based one-stop relocation platform HappyLocate announced its plans to hire 600 people across six departments — sales, HR, accounts, operations, marketing and tech. The company intends to hire fresh graduates from over 50 universities and experienced professionals across the country. 4. Cybersecurity startup Sequretek to strengthen its workforce to 500 Cybersecurity startup company Sequretek to increase its employee headcount from 400 to 500 people across US, Europe, and Asia. The company makes cybersecurity accessible and affordable through a combination of products, platforms and services. 5. Vivifi India to add 1,000 new employees Fintech NBFC Vivifi India Finance aims to amplify its workforce by hiring 1,000 new team members across various streams in FY22. The organization is also looking to expand its geographical territories to newer locations, including in tier 2 and 3 cities, in various states, pan-India, with the headquarters remaining in Hyderabad. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/firing-at-byjus-backed-whitehat-jr-toppr-and-others-left-2000-out-of-jobs-in-june/slidelist/92671183.cms">Firing at Byju’s backed WhiteHat Jr, Toppr and others left 2,000 out of jobs in June</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/enterprise/news/ed-has-reportedly-raided-44-locations-of-vivo-and-related-firms-across-the-country/articleshow/92672031.cms">After Xiaomi, Vivo comes under the Enforcement Directorate’s scanner</a>

Amid the layoff season, these five startups are on a hiring spree

<ul><li>With consumer interest at the core of the consortium, the <keyword id="1464841" type="General" weightage="100" keywordseo="edtech" source="Orion">EdTech</keyword> companies have committed to observe and adhere to a common ‘Code of Conduct.’</li><li>It would establish a Two-tier Grievance Redressal Mechanism to ensure that the positive impact of the industry reaches every deserving consumer while protecting their interests and promoting their rights.</li></ul> Leading EdTech companies under the aegis of <keyword id="128625" type="General" weightage="20" keywordseo="Internet-and-Mobile-Association-of-India" source="Orion">Internet and Mobile Association of India</keyword> (<keyword id="149966" type="General" weightage="20" keywordseo="IAMAI" source="Orion">IAMAI</keyword>) today announced the formation of the India <keyword id="12934640" type="General" weightage="20" keywordseo="EdTech-Consortium" source="Orion">EdTech Consortium</keyword> (IEC). Aligned with the Government’s recent advisory, the IEC will ensure that every learner shall have access to quality and affordable education, which not only improves their academic performance but also makes them future-ready. With consumer interest at the core of the consortium, the EdTech companies have committed to observe and adhere to a common ‘Code of Conduct’ and establish a Two-tier Grievance Redressal Mechanism to ensure that the positive impact of the industry reaches every deserving consumer while protecting their interests and promoting their rights. Several EdTech entities have joined the IEC such as such as Byju’s, Careers 360,Classplus, Doubtnut, Great Learning, Harappa, Times Edutech &amp; Events Ltd, Scaler, Simplilearn, Toppr, Unacademy, upGrad, UNext Learning, Vedantu &amp; WhiteHat Jr. The move to set up IEC comes at a time when Indian EdTech players are creating immense value for the global audience. The disruptions led by the pandemic and subsequent lockdowns compelled both parents and educational institutions to implement tech-enabled learning solutions, thereby accelerating the growth of the EdTech sector. Indian EdTech operators have been solving for accessibility and affordability through quality courses from best teachers, instructors and faculty members, to ensure that students across all age groups are benefiting from the innovation in the education sector. This has elevated India’s position on the global map as an education hub. The overall Indian EdTech ecosystem impacts over 500M+ school students, college students and working professionals across India. At this scale, it is critical that the ecosystem follows a framework that will protect the rights of our learners and all EdTech companies are committed to this. Subho Ray, President, Internet and Mobile Association of India, said: “IAMAI and members of the India EdTech Consortium (IEC) are deeply committed to ensuring ethical standards to protect learners on online educational platforms. IEC seeks to empower the learners by not just helping them make informed decisions but by also having their grievances redressed timely. The formation of this self-regulatory body is an important step towards protecting learners as more and more students, teachers and stakeholders are becoming a part of the online education ecosystem.” Commenting on the formation of the IEC, Divya Gokulnath, Co- founder of Byju’s said, “We are completely aligned with the Government's principles on safeguarding consumer interests and welcome the creation of guidelines that help students reach their learning goals in a manner that makes them future ready and conceptually strong. We have always believed that the student should be at the center of the education system and as educators we must do everything possible to create the right set of processes and methods to empower and enhance their learning." Vamsi Krishna, Co-Founder &amp; CEO, Vedantu, said, “The Indian EdTech sector has grown considerably over the last two years with funding and consolidations strengthening the ecosystem. However, while business growth is critical, so is consumer protection since this will allow students and parents to make more informed decisions about the future. Therefore, as part of the newly institutionalized IEC, we will build a sounder and more ethical ecosystem for students so that we can ensure their safety and mitigate any risks they may encounter in their journey to be future-ready.” Mayank Kumar, Co-Founder &amp; MD upGrad and Co-Chairperson, IAMAI EdTech Committee, said, “We are honored to be a part of the IEC at a time when the EdTech sector is accelerating its growth momentum. The last two years have witnessed the rise of online education as a connecting bridge to access flexible and quality education for students as well as working professionals. With the sole purpose of improving the delivery of education services, it is now crucial for us to foster and sustain stakeholder trust by safeguarding their interest as a practice. This initiative will go a long way in strengthening the EdTech sector and establishing India as the Teaching capital of the world.” In the recent past, the education sector has undergone significant transformation and EdTech has supplemented in driving new-age academic excellence. Having created a significant impact by offering quality and affordable education services, EdTech entities have also improved learnability &amp; employability for users to address the evolving needs of the job market. The adaptive learning solutions have ensured that learners are not merely ‘knowledge receivers’ but ‘knowledge creators’ as well. The sector has also created large number of employment opportunities. However, as the sector and end users grow at a fast pace, it is critical to establish a standard code of conduct for all Indian EdTech entities to adhere to and ensure that ‘learners’ remain at the core of all the business practices.

IAMAI establishes India EdTech Consortium to uphold Code of Conduct by  EdTech Platforms

<ul><li><keyword id="1884281" type="COMPANY" weightage="20" keywordseo="AbhiBus">Abhibus</keyword> is a bus ticketing and aggregation platform founded in 2008.</li><li><keyword id="6433699" type="UNKNOWN" weightage="20" keywordseo="Ixigo">Ixigo</keyword> would get access to Abhibus’ intellectual property and operations with this acquisition.</li><li>Ixigo is planning to file preliminary papers for its IPO by mid August, to raise ₹1,500 crore. </li></ul>Online ticketing startup Le Travenues — which operates ixigo — has acquired bus ticketing and aggregation platform AbhiBus on Thursday, August 5. The development comes only a week after ixigo raised $53 million in a round led by Singapore’s sovereign fund GIC. The acquisition will help ixigo expand its footprint in the online ticketing segment, as it gets ready to go public. According to sources within the company, ixigo is planning to file its preliminary paperwork draft red herring prospectus (DRHP) by mid August, to raise ₹1,200 crore to ₹1,5000 crore from the public market. Earlier this week, the Gurugram-based startup also converted itself into a<a href="https://www.businessinsider.in/business/startups/news/travel-portal-ixigo-moves-a-step-closer-to-ipo/articleshow/85006033.cms"> public limited company</a> to start off the initial public offering (IPO) process. The latest acquisition was done for a mix of cash and ixigo stock. Post this acquisition, AbhiBus team led by founder Sudhakar Reddy Chirra will join the ixigo team. Ixigo would also get access to AbhiBus’ intellectual property, brands, technology and operations with this acquisition. The duo claims to have a combined user base of 255 million, as of May 31, 2021. “By leveraging our combined user base, multi-modal transportation capabilities, tech resources and travel domain expertise we will be able to enhance the experience of millions of travellers in India every day,” Aloke Bajpai and Rajnish Kumar, cofounders of ixigo, said in a statement. Earlier this year, ixigo had <a href="https://www.businessinsider.in/business/startups/news/ixigo-acquires-train-discovery-and-booking-platform-confirmtxt-in-a-cash-and-stock-deal/articleshow/80685580.cms" data-type="tilCustomLink">acquired</a> train booking app Confirmtkt. AbhiBus was founded in 2008 by Chirra. It provides end-to-end software and bus-related services such as online ticketing system, fleet management solutions, vehicle tracking system, passenger information system and logistics management. The company provides its tech solutions to both private and state transportation corporations in India. It has also partnered with Indian Railway Catering and Tourism Corporation (IRCTC) to offer bus ticketing services. AbhiBus claims that they used to sell around 26,000 bus tickets per day in the financial year 2020, before pandemic hit India. SEE ALSO <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-and-tiger-global-have-a-billion-dollar-notice-to-respond-to-in-the-next-90-days/articleshow/85059732.cms">Flipkart and Tiger Global have a billion dollar notice to respond to in the next 90 days </a><a href="https://www.businessinsider.in/business/startups/news/whitehat-jrs-ceo-karan-bajaj-quits-exactly-a-year-after-byjus-acquisition/articleshow/85029450.cms">WhiteHat Jr’s CEO Karan Bajaj quits exactly a year after Byju’s acquired the company</a> <a href="https://www.businessinsider.in/business/startups/news/moengage-wants-an-office-in-new-york-and-hire-to-150-techies-in-india/articleshow/85057941.cms">INTERVIEW: MoEngage, which helps companies like Domino's engage with customers, wants an office in New York and 150 techies in India</a>

IPO-bound ixigo acquires bus ticketing platform AbhiBus to strengthen its footprint

<ul><li>India’s financial investigation agency has been investigating Amazon and <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> over the years. </li><li>The Enforcement Directorate issued a show-cause notice to both the companies and its founders last month. </li><li>Flipkart raised a $3.6 billion round at a valuation of $37.6 billion, a two-fold increase from 2018.</li></ul>India’s Enforcement Directorate (ED) has reportedly warned Walmart-owned Flipkart and its founders — <keyword id="225032" type="PERSON" weightage="20" keywordseo="Sachin-Bansal">Sachin Bansal</keyword> and <keyword id="6364080" type="PERSON" weightage="20" keywordseo="binny-bansal">Binny Bansal</keyword> — with a $1.35 billion penalty for alleged violation of the country’s foreign investment laws. According to a Reuters report citing sources it did not name, the financial investigation agency has alleged that after Flipkart got foreign investment, a related party, <keyword id="1556044" type="PERSON" weightage="20" keywordseo="WS-retail">WS Retail</keyword>, started selling goods to consumers via the e-commerce platform. This is prohibited under Indian law. ED has issued show-cause notice to both the companies and its founders last month to explain why they shouldn’t face a penalty of $1.35 billion for allegedly violating India’s foreign direct investment (FDI) policy. Tiger Global, which has been an investor in Flipkart for a decade has also been issued such a notice. Tiger Global declined to comment on the issue. A Flipkart spokesperson told Reuters, the company is "in compliance with Indian laws and regulations…We will cooperate with the authorities as they look at this issue pertaining to the period 2009-2015 as per their notice." One of the sources at Flipkart told Reuters that they have around 90 days to respond to the notice and WS Retail had ceased its operations at the end of 2015. Flipkart was acquired by <keyword id="80487" type="COMPANY" weightage="20" keywordseo="walmart">Walmart</keyword> in 2018, after which Sachin Bansal sold off all his shareholdings but Binny Bansal continues to hold some. The company’s valuation has doubled since then, from $16 billion in 2018 to $37.6 billion now. Last month, the company raised a $3.6 billion round led by Singapore-based GIC, Canada Pension Plan Investment Board (CPP investments), Softbank Vision Fund 2 and Walmart. DisruptAD, Qatar Investment Authority, Khazanah Nasional Berhad, Tencent, Willoughby Capital, Antara Capital, Franklin Templeton and Tiger Global also participated in the round. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/whitehat-jrs-ceo-karan-bajaj-quits-exactly-a-year-after-byjus-acquisition/articleshow/85029450.cms">WhiteHat Jr’s CEO Karan Bajaj quits exactly a year after Byju’s acquired the company</a> <a href="https://www.businessinsider.in/business/startups/news/moengage-wants-an-office-in-new-york-and-hire-to-150-techies-in-india/articleshow/85057941.cms">INTERVIEW: MoEngage, which helps companies like Domino's engage with customers, wants an office in New York and 150 techies in India</a> <a href="https://www.businessinsider.in/business/startups/news/tiger-global-pumps-enough-money-to-make-bharatpe-a-unicorn-about-a-month-after-it-got-a-banking-licence-with-centrum-as-its-partner/articleshow/85027918.cms">Tiger Global pumps enough money to make BharatPe a unicorn about a month after it got a banking licence with Centrum as its partner</a>

Flipkart and Tiger Global have a billion dollar notice to respond to in the next 90 days

<ul><li>Analysts expect the market to witness another round of correction as earnings seasons kickstart.</li><li><keyword id="66115" type="General" weightage="20" keywordseo="nifty-50" source="Orion">Nifty 50</keyword> is expected to see 10% downside due to potential recession, slowdown and stagflation.</li><li>Further, interest rate hikes at home will continue to fuel outflows from the market.</li></ul>As earnings season is about to begin this week with TCS and DMart coming out with their quarterly performance, there are traders who have already started betting that the market will fall this season due to poor <keyword id="46128" type="General" weightage="20" keywordseo="corporate-earnings" source="Orion">corporate earnings</keyword>. Ambareesh Baliga, an independent market analyst confirms that traders have been shorting heavily on the lower side of Nifty 50 at around 14,000 -15,000 as the mood has turned negative right before the earnings season. Nifty50 has been hovering between 15,500 and 16,000 for the last two months. Due to the post-pandemic effect, the earnings growth has been solid at 41% in FY22 but a lot has changed since then with domestic and external factors like policy tightening, inflation, the Russia-Ukraine war and a declining Rupee – all these factors could come together and weigh down earnings. “We expect an earnings downgrade of 15-20% due to expected economic slowdown and the higher base of FY22,” said the report. As per the consensus, expected earnings growth for FY23 was 16% and was supposed to slow down slightly in FY24 at 14%. For the very same reasons, analysts at JM Financial too are expecting a 10% further downside in Nifty 50 on lower earnings expectations. “The steeper slowdown is attributable to known factors such as war in Ukraine, slowing investment, and trade, fading of pent-up demand, and withdrawal of fiscal and monetary policy accommodation,” said a report by JM Financial. This would mean that markets could remain volatile for two to three more months without steady cues from corporate earnings. Apart from questions about GDP growth expectations, markets are also concerned that liquidity in general has been drying up. Surplus domestic liquidity has declined from 5.5% of bank deposits at the peak to 1.4% and is expected to fall to 0.6%. “Receding liquidity has already caused a sharp correction in mid and small cap indices. While the actual fiscal slippage may not be as dramatic, the prospect of large fiscal slippage and monetary tightening forebodes rising rates scenario, which could temper hopes of private capex,” JM Financial said. Benchmark index Nifty 50 has already crashed over 10% in the last six months. <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;">Period </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;">Nifty 50 fall </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;">One month </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;">-3.40% </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;">Six months </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;">-10.70% </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;">2022 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;">-9.18% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Sectors vulnerable to earnings risk from potential growth slowdown: <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;">Sectors at higher risk of poor earnings </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;">Sectors are moderate risk </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;">Banks &amp; NBFCs </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;">Auto makers </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;">Oil &amp; gas </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;">Consumer staples </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;">Cement </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;">Pharma </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;">Metals </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;">Utilities </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;">Infrastructure </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;">Upstream oil &amp; gas </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;">Non Nifty industrials and PSU banks </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;">IT </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>(Source: JM Financial) Markets have not factored in recession, slowdown and stagflation - fully There are more macro factors that are coming into play. “Apart from earnings, factors concerning the market are slowdown that has happened in the US and Europe, talks about recession, inflation across the world which means higher interest rates going ahead, oil still very high even after little correction,” said Baliga. The World Bank has scaled down its global growth projection to 2.9% for 2022, which is nearly half of that in 2021 at 5.7%. Further as major central banks continue to cut interest rates market will ‘accelerate capital outflows or restrained flows’ said analysts at JM Financial. There is the fear of stagflation — a regime of lowering interest rates combined with slow growth and unemployment. “An assessment of multiple macro-market indicators suggests that among the conditions of cyclical inflections there are still significant gaps. Thus, we infer that the markets have not priced in the full impact of the ongoing tightening and prospective slowdown or recession,” said JM Financial. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[]]></cdata></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/inflation-is-making-indian-companies-borrow-more-thats-bad-news-when-interest-rates-are-high/articleshow/92657691.cms">Inflation is making Indian companies borrow more – that's bad news when interest rates are high</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/firing-at-byjus-backed-whitehat-jr-toppr-and-others-left-2000-out-of-jobs-in-june/slidelist/92671183.cms">Firing at Byju’s backed WhiteHat Jr, Toppr and others left 2,000 out of jobs in June</a>

Nifty50 might be see bear action on fear of muted earnings and stagflation

<ul><li>Are you looking to invest in top <keyword id="6357979" type="UNKNOWN" weightage="20" keywordseo="mutual-funds">mutual funds</keyword> in the large and <keyword id="44748" type="ORGANIZATION" weightage="20" keywordseo="Mid-cap">mid cap</keyword> category? Here is the list of top 5 picks for you.</li><li><keyword id="116507" type="PERSON" weightage="20" keywordseo="large-cap">Large cap</keyword> funds are generally a must in one’s portfolio as large cap companies, typically, have strong corporate practices that make them safe and transparent as well as, more often than not, provide good growth.</li><li>Mid cap companies are the ones with ₹5,000 to 10,000 crore market valuation that have the potential to outperform the market.</li></ul>Large-cap funds and mid-cap funds are typically known to be a must in every investor’s mutual fund portfolio. Large cap companies have strong corporate practices that make them safe and transparent as well as, more often than not, provide good growth. Mid cap companies have the potential to give outsized returns compared to large cap stocks. Such companies generally have more focused business models and do not diversify as large cap companies. Further, their market capitalisation keeps on increasing as more investors spot the opportunity which makes it even more valuable stock. Now there are hundreds of mutual funds in these categories which makes it more confusing to choose from. So here are the best five funds in both categories with top ranking and consistent returns over five years. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Top 5 large cap funds </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">5 year return </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Canara Robeco Bluechip Equity Fund </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">17.98% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Axis Bluechip Fund </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">18.27% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">BNP Paribhas Large Cap Fund </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">14.67% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Kotak Bluechip Fund </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">15.26% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Mirae Asset Large Cap Fund </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">16.92% </td></tr></tbody></table>Data source: ET Money Further, mid cap companies are typically the ones with ₹5,000 to 10,000 crore market valuation. Moreover midcap stocks have been outperforming large cap companies for some time. These could be some of the fastest-growing companies in India and are, at one stage, likely to become large cap companies. The sooner you get in these stocks, the more your investments can grow. Hence, some investment in their growth cycles is a must in every investor’s portfolio. However, not every midcap stock will be a success story. And, one may not have a information, or the analysis needed, to identify the real wealth creators. So, it may be wise to invest in mutual funds where a manager is appointed to pick out the gems from the pile of stones. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Top 5 mid cap funds </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">5 year return </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">PGIM India Midcap Opportunities Fund </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">22.05% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Quant Mid Cap Fund </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">20.96% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Axis Midcap Fund </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">21.71% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">BNP Paribhas Midcap Fund </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">17.56% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Edelweiss Mid Cap Fund </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">20.05% </td></tr></tbody></table>Data source: ET Money SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/whitehat-jrs-ceo-karan-bajaj-quits-exactly-a-year-after-byjus-acquisition/articleshow/85029450.cms">WhiteHat Jr’s CEO Karan Bajaj quits exactly a year after Byju’s acquired the company </a> <a href="https://www.businessinsider.in/stock-market/15-small-cap-stocks-that-surged-more-than-100-per-cent-in-last-three-months/slidelist/85037352.cms">15 small cap stocks that surged more than 100 per cent in last three months </a>

Top mutual funds to invest in large cap and mid cap stocks

<ul><li>Customer engagement platform <keyword id="2970390" type="PERSON" weightage="20" keywordseo="MoEngage">MoEngage</keyword> is planning to go big on international expansion in the one year.</li><li>MoEngage recently closed a $32 million funding round led by Multiples Alternate Asset Management.</li><li>A part of the funding will be used to set up an R&amp;D center in Hyderabad due to the talent pool crunch in Bengaluru.</li></ul>MoEngage, which helps companies like Domino's engage with their customers, is planning to go big on international expansion in the one year. It has already set up local offices in the UK, Germany and Vietnam over the last one year, and cities like New York and Boston are next in line. The company aims to touch annual recurring revenue (ARR) of $100 million in the next three years, by 2024. Though MoEngage did not share their current ARR, the company claimed that it is higher than $20 million. This would mean that the company is looking to expand five fold in the next three years. The company has also decided to set up another research and development (R&amp;D) center in Hyderabad, MoEngage’s chief executive officer (CEO) Raviteja Dodda said in an exclusive interaction with Business Insider. Currently, it has one R&amp;D center in Bengaluru. These R&amp;D centers are like the backend of any software-as-a-service (SaaS) company, where the products are actually developed and designed. Several SaaS companies even if they cater to customers in the western market, set up R&amp;D centers in India due to the massive talent pool and cheap workforce. Some prominent examples are Freshworks, Zoho Corp and Browserstack. “New office in Hyderabad is to expand the talent pool. Hiring is a big problem right now, across every company. And if you are based in Bengaluru, it's even a bigger problem to hire people. So we are expanding our talent pools that we target,” Dodda said. MoEngage’s four step international expansion strategies <table class="redcator-table-advance" style="border-width: initial; border-style: none;"><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;">Plan</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;">Strategy</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;">Stronger Marketing </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;">Building a sales and marketing flywheel to get more customers on board. </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;">Building stronger communities </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;">Investing more in #GROWTH, a peer-to-peer learning community that hosts invite-only events to learn best growth practices from each other. </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;">Product Innovation </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;">Investing in artificial intelligence (AI) driven insights to help its customers design better market campaigns for themselves. </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;">Going Local </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;">Building local teams in each function and market to offer better services to its customers. </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>MoEngage’s aggressive international expansion, comes with aggressive hiring MoEngage — which was founded by IIT Kharagpur alumnus Raviteja Dodda and Yashwanth Kumar — plans to hire over 150 employees across verticals and functions in the next 12-18 months, by the end of 2022. This is in addition to 120 employees hired across vertices in the last seven months. MoEnagange currently has a team of 375 employees. Key hires in last 12 months <table style="border-width: initial; border-style: none;" 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;">Hires </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;">Designation </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;">Meagan White </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;">Senior Director of Marketing for North America </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;">Shalini Devji-Jethwa </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;">Director of Marketing for Europe </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;">Avijit Nanda </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;">Director, Product Management </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;">Roshan Hadal </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;"> Director, Engineering </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>For international markets, MoEngage has focused on hiring for sales, marketing and customer acquisition teams. Whereas Indian hiring has largely focused on product, engineering and other functions. Though the company hasn’t put a number on how many people it plans to hire for its Hyderabad R&amp;D office, it can be expected to be higher than 20. The Bengaluru and San Francisco-based startup would also be looking at acquisitions in the next two to three years to expand its product range and distribution channels. “It will be either for distribution in markets where we want to expand in or products which are complementary to what we do and can add value for our customers,” Dodda added. Closing 2021 with another 200 customers MoEngage startup recently closed a $32.5 million funding round led by Multiples Alternate Asset Management to aid its ambitious international plans. Overall, the seven-year-old startup has raised over $73.3 million since its inception. The company has a user base of 1000 customers, of which 250 were on boarded in the last one year. <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;">Customer </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;">Country </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;">Byju’s, Westside, Flipkart, Nestle </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;">India </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;">Mobile telecommunications company XL Axiata </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;">Indonesia </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;">Telekom Malaysia, CIMB Bank </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;">Malaysia </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;">Deutsche Telekom </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;">Germany </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;">McAfee </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;">US </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;">Travelodge </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;">UK </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Dodda claims that they are adding over 90 customers every quarter and it expects to close this year with another 200 customers. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/whitehat-jrs-ceo-karan-bajaj-quits-exactly-a-year-after-byjus-acquisition/articleshow/85029450.cms">WhiteHat Jr’s CEO Karan Bajaj quits exactly a year after Byju’s acquired the company</a> <a href="https://www.businessinsider.in/business/startups/news/tiger-global-pumps-enough-money-to-make-bharatpe-a-unicorn-about-a-month-after-it-got-a-banking-licence-with-centrum-as-its-partner/articleshow/85027918.cms">Tiger Global pumps enough money to make BharatPe a unicorn about a month after it got a banking licence with Centrum as its partner</a> <a href="https://www.businessinsider.in/business/corporates/news/adani-ports-shows-a-record-quarterly-volume-growth-while-the-shares-have-already-run-up-over-7-in-last-5-days/articleshow/85005554.cms">Adani Ports shows a record quarterly volume growth while the shares have already run up over 7% in last 5 days</a>

INTERVIEW: MoEngage, which helps companies like Domino's engage with customers, wants an office in New York and 150 techies in India

<ul><li>This is SoftBank’s second bet in <keyword id="2000014" type="PERSON" weightage="20" keywordseo="MindTickle" source="Orion">MindTickle</keyword>, which helps enterprises improve their sales.</li><li>MindTickle will use this funding to expand its presence, acquire companies and hire aggressively.</li><li>The company has over 200 clients across the globe, including Dabur, Johnson &amp; Johnson, Wipro</li></ul>MindTickle, a startup that helps small and large enterprises improve their sales, is the latest entrant to India's <keyword id="3009432" type="PERSON" weightage="20" keywordseo="unicorn-club" source="Orion">unicorn club</keyword>. The decade old startup on Thursday, August 8, announced a $100 million Series E funding round led by existing investor SoftBank, at a valuation of $1.2 billion. Existing investors Norwest Venture Partners, Canaan, NewView Capital, and Qualcomm Ventures also participated in the Series E round. This makes MindTickle the third Indian software-as-a-service (SaaS) startup to become a unicorn in 2021, after Chargebee and BrowserStack. Overall, there are over nine venture capital (VC) funded SaaS unicorns in India. A unicorn is a privately valued company with a valuation of over $1 billion. <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;">SaaS unicorns </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;">Valuation </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;">BrowserStack </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;">$4 billion </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;">Freshworks </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;">$3.5 billion </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;">Icertis </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;">$2.8 billion </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;"> Postman </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;">$2 billion </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;"> Zenoti </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;">$1.5 billion </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;">Chargebee </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;">$1.4 billion</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;">MindTickle </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;">$1.2 billion </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;">Highradius </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;">$1 billion </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;">Druva </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;">$1 billion </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> MindTickle wants to gain greater momentum in international markets MindTickle was founded by Krishna Depura, Mohit Garg, Deepak Diwakar and Nishant Mungali in 2011. It helps companies build sales capabilities. It also offers solutions for onboarding, micro-learning and skills development. MindTickle plans to use this funding to expand its presence in multiple verticals as well as markets like Europe and Asia. A part of the funding would also be used to acquire more companies and expand their technology stack, MindTickle’s chief executive officer (CEO) and cofounder Depura told Business Insider. “So a reasonable chunk of [the] money will go into global expansions, getting into more territories and geographies. The second amount [sic] will go into R&amp;D [research and development], which we’ll use to develop our stack. I think $100 million is a lot of money and it’s not like we’ll deploy the money in the next six months or one year. But it’ll give us sufficient power to plan for the next three-four years to set up our base and continue to think over the horizon,” Depura added. He also highlighted that the company has a good presence in India at the moment, especially in the automotive and pharmaceutical sectors. MindTickle will also use a part of the funding to go aggressive on hiring across geographies and functions. It has already hired over 100 employees in 2021 and has openings for 115 positions. The company has a workforce of 500 employees. MindTickle’s current clientele has already set its global presence This is SoftBank’s second investment in the Pune and San Francisco-based startup. The Japanese conglomerate had previously led MindTickle’s $100 million round raised in November 2020. Existing investors Norwest Venture Partners, Accel Partners, Canaan, NEA, NewView Capital, and Qualcomm Ventures had also participated in the round. The SaaS startup has raised over $281 million to date. Its clientele includes 200 enterprise companies like Johnson &amp; Johnson, Splunk, Wipro, Ola, Cloudera, Dabur and United Colors of Benetton. Its customer base includes a few dozen Fortune 500 and Forbes Global 2000 companies, which is an annual ranking of the top corporations worldwide measured by revenue. MindTickle claims to have presence in over 115 countries as its clientele has subsidiaries across the world. “We continue to be impressed by Mindtickle’s performance in creating and becoming a category leader in the sales readiness space. The product has become an essential part of any sales organisation and we are excited to support the company in its growth,” Munish Varma, managing partner with SoftBank Investment Advisers, said. 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