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Paytm soars with 100 million monthly transacting users milestone.

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The Indian start-up, Paytm, has reported a revenue growth of 38% YoY in its Q3FY24 results. The company’s revenue stood at Rs 2,850 crore, driven by accelerated GMV growth and higher device addition. WeWork Labs has launched a new programme called Jumpstart 2024, which aims to support early-stage start-ups through its Growth Campus programme. The programme offers subsidised workspaces, connections with founders and investors, and the chance to receive $200,000 in funding. International Battery Company has raised $35 million in funding for the development and production of Prismatic Li-ion NMC batteries. The funding round was led by RTP Global. FinAGG Technologies has secured $11 million in Series A funding, led by Blue Orchard and Tata Capital. The funds will be used to support the development of the company’s technology. A report from New Relic has revealed that 3 in 10 financial services and insurance businesses experience weekly IT outages. The report suggests that these organizations should focus on achieving full-stack observability to improve their tech stack and deliver innovative services. FinBox and Capital Now have partnered to speed up digital underwriting by 40%. The partnership has reduced the overall turnaround time for digital loan disbursement by 25%. Medial, a professional social media platform, has raised $120,000 in its pre-seed round. The platform uses an algorithm to promote meaningful content and foster learning and growth within its community. Gurugram-Based Mirasys has deployed 500 AI-enabled cameras to enhance vigilance in Ayodhya. The cameras will provide increased security and monitoring in the area. The Reserve Bank of India has taken a bold stance on fintech regulation by creating a Self-Regulatory Organization. The aim of the organization is to foster responsible innovation in the thriving fintech sector. Derek Laney, Slack Technology Evangelist—APAC at Salesforce, has stated that productivity is about optimizing the time employees spend at work rather than clocking more hours. Laney emphasizes the importance of work-life balance and reducing burnout. In celebration of National Start-Up Day, Outlook Business discusses the importance of valuations for start-ups and the need to focus on sustainable growth rather than chasing high valuations. CoinDCX, a cryptocurrency exchange, has lost nearly 90% of its trading volume due to a 30% tax on crypto gains. The tax has led to a decline in trading activity and customer interest. Amazon has faced criticism for its labor rights practices in India, with reports of poor working conditions and mistreatment of workers. Despite these issues, the company continues to expand its operations in the country. India needs to focus on large-scale product manufacturing in order to occupy 30% of the global market share, according to industry experts. The country currently lags behind in product manufacturing compared to other countries.

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