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SaaS unicorn Tekion eyes 80% growth in revenue this year

YourStory

YourStory · 1y ago

SaaS unicorn Tekion eyes 80% growth in revenue this year

Tekion, the US-based SaaS unicorn with a significant presence in India, plans to continue hiring to sustain its growth rate of over 80% driven by the demand for its automotive software solutions in the American market. Despite implementing employee resizing measures, the company intends to hire senior-level professionals from other companies, aiming for a revenue target of $1 billion by 2027. Tekion's technology platform caters to automotive partners, enterprises, and retail customers, with the retail segment being its strongest driver of growth. The company focuses on developing generative artificial intelligence applications to enhance efficiency in customer communication and business operations.

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TVG-Backed Perfios Ropes In Former Infosys Executive Rajesh Kini As CFO

Inc42 · 11m ago

TVG-Backed Perfios Ropes In Former Infosys Executive Rajesh Kini As CFO

Perfios, a fintech SaaS startup, has hired Rajesh Kini as its new chief financial officer to support the company's growth. This move comes shortly after Perfios achieved unicorn status by raising $80 million in funding earlier this year. Kini, a former CFO at Infosys, will be responsible for managing Perfios' financial operations and governance.

Separating fact from fiction: how many unicorns does India really have?

VCCircle

VCCircle · 1y ago

Separating fact from fiction: how many unicorns does India really have?

Perfios, an Indian startup offering SaaS solutions, recently became a unicorn after securing $80 million in funding from Teachers' Venture Growth. A unicorn is a company valued at $1 billion or more. This raises the question of how many unicorns India actually has. Stay tuned to separate fact from fiction.

EV-maker Ather Energy eyes $2.4 billion valuation for upcoming IPO

Inshorts · 6m ago

EV-maker Ather Energy eyes $2.4 billion valuation for upcoming IPO

Electric vehicle (EV) maker Ather Energy is aiming for $2.4 billion valuation for its upcoming initial public offering (IPO) this year. The valuation would be over 80% jump from its last funding round in August, when it became a unicorn with $1.3 billion valuation. It had raised $71 million from existing investor National Investment and Infrastructure Fund (NIIF) in it.

Perfios becomes India's 2nd unicorn in 2024 after $80-mn fundraise

Inshorts · 1y ago

Perfios becomes India's 2nd unicorn in 2024 after $80-mn fundraise

Fintech SaaS startup Perfios on Wednesday announced raising $80 million in funding from Teachers' Venture Growth, the late-stage venture and growth investment arm of the Ontario Teachers' Pension Plan. The funding takes Perfios' valuation above $1 billion, making it India's second unicorn in 2024. Perfios raised $229 million from Kedaara Capital in September 2023.

Logistics startup Porter eyes more small cities for growth

Livemint

Livemint · 9m ago

Logistics startup Porter eyes more small cities for growth

Bengaluru-based logistics startup Porter plans to double its presence in India to nearly 40 cities over the next 3-4 years. The company offers a logistics platform for last-mile delivery operations to businesses and has seen significant growth, with revenue increasing by 56% to over INR 2,700 crore in FY24. Porter is also expanding internationally and entered the Dubai market in 2020. Additionally, the company has launched new initiatives such as parcel delivery and home shifting services. Porter has raised $150 million in funding and became a unicorn earlier this year.

Separating fact from fiction: how many unicorns does India really have?

VCCircle

VCCircle · 1y ago

Separating fact from fiction: how many unicorns does India really have?

Perfios, an Indian startup that provides SaaS solutions, recently joined the unicorn club by raising $80 million in funding. A unicorn is a company valued at $1 billion or more. This raises the question of how many unicorns India really has. While there are varying opinions on the actual number, India has seen a significant rise in the number of unicorns in recent years, indicating a growing startup ecosystem in the country.

Shiprocket FY23 revenue soars 80% but higher costs widen loss

VCCircle

VCCircle · 1y ago

Shiprocket FY23 revenue soars 80% but higher costs widen loss

Logistics unicorn Shiprocket witnessed an 80% increase in revenue for FY23, reaching Rs 1,089 crore. However, the startup's expenses rose due to higher employee costs and costs related to mergers and acquisitions. Shiprocket also reported a wider loss of Rs 341 crore for FY23 compared to Rs 93.15 crore in FY22. Despite this, the company's core business remains profitable, and it anticipates improved profitability in the current financial year. Shiprocket became a unicorn last year and has made several acquisitions to bolster its services.

Daalchini doubles revenue in FY24, aims for an encore in FY25

VCCircle

VCCircle · 10m ago

Daalchini doubles revenue in FY24, aims for an encore in FY25

Daalchini Technologies, a retail startup supported by investors like Artha Venture Fund and Unicorn India Ventures, has achieved significant revenue growth in the financial year ending March 2024. The company's revenue almost doubled, reaching Rs 42 crores compared to Rs 22 crores in the previous year. Daalchini Technologies aims to continue this growth trajectory in the following year.

Jewellery retailer Kushal’s eyes 50% growth after Lighthouse round

The Arc Web

The Arc Web · 1y ago

Jewellery retailer Kushal’s eyes 50% growth after Lighthouse round

Bengaluru-based jewellery retailer Kushal's has raised $34 million in funding from private equity firm Lighthouse to expand its business. The company aims for 50% revenue growth in FY25, with a projected 40% growth for the current fiscal year. Despite having 80% of its sales from physical stores, Kushal's is also focusing on its website and external marketplaces. In FY23, the company reported revenues of Rs 196 crore ($23.6 million) and a net profit of Rs 16 crore ($2 million). The funding round included a secondary component, with India SME Investments selling a portion of its shares.

Mobility startup Yulu eyes $80 million raise riding on quick commerce buzz

Economic Times

Economic Times · 3m ago

Mobility startup Yulu eyes $80 million raise riding on quick commerce buzz

Yulu, a shared mobility startup, is in talks to raise $75-80 million to leverage quick commerce growth. With participation expected from existing investors like Bajaj Auto and Magna International, the fundraising will bolster Yulu’s $30 million annual recurring revenue and Ebitda profitability. The investment will enhance Yulu’s fleet to 80,000 scooters by 2025. The round may increase Yulu’s valuation by 20-25%, compared to its $210 million valuation earlier in the year.

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