After its hugely popular take on India’s startup scene captured all the drama associated with entrepreneurship, TVF has a new resource to draw inspiration from – its own internal feud. TVF Founder Arunabh Kumar has been dragged to court by former colleague Prashant Raj. Raj, who quit the company in 2014, is demanding a 4% share in the company as well as cash compensation for his work with TVF.
All the funding news from the Indian startup ecosystem. Funded startups include ZuperMeal, CloudLending, Kulzy, Grabhouse, Lookup and Gojavas.
A summary of the startup funding news, 1st Oct – 8th Oct 2015.
Jabong’s plight may well be a resounding alarm for the hitherto burgeoning startup scene in India, which is finally showing signs of correction, what with Zomato, Helpchat and Housing scaling down their workforce, and food tech startups like Dazo ceasing operations.
Trouble is brewing in the food tech industry. After food delivery TinyOwl fired xxx employees, and food delivery app Dazo shut down last week, and Zomato has now annouced that it will be laying off 300 employees, or 10% of its workforce.
Flipkart’s been packaging and shipping an astonishing number of packages this festive season, and resources are understandably stretched. So they’re calling in reinforcements for their delivery teams. They’re hardly your typical delivery employees though.
The festive season is in full swing, and Indian e-commerce giants are battling it out for a share of India’s online shopping pie. The 3 biggest players – Flipkart, Amazon and Snapdeal – are running simultaneous sales from 13th to 17th October, and marketing and promotions have been fierce.
If you suspected that India’s startup boom was reaching world-class proportions, you now have numbers to back it up. In a report released jointed by consultancy firm Zinnov and Google, India has been placed 3rd in the list of startup ecosystems worldwide.