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The company does not need additional capital for its pivot. Most of the $37 million that Virgio raised last year remains in the company’s bank account and gives the company a cash runway of three years, per Nagaram.

Indias newest unicorn Zepto has set its sights on an ambitious sales target, CEO Aadit Palicha said during The Economic Times Startup Awards 2023 (ETSA).

Prashanth Prakash, partner at Accel India, said Indias public markets are one of the best things that the country has to offer to the new economy space, but the ecosystem “lost sight of what it is to practically build a company for the public market”.

The Economic Times Startup Awards, honoring Indian entrepreneurs, will take place in Bengaluru. The winners across eight categories were announced, including OfBusiness as Startup of the Year and Jishnu Bhattacharjee of Nexus Venture Partners as Midas Touch winner. The event will also feature a panel discussion on sustainable businesses.

The biggest names in Indias startup galaxy, top entrepreneurs, policymakers and investors will congregate to celebrate the countrys brightest entrepreneurs in Bengaluru on October 7 at the ninth edition of The Economic Times Startup Awards. This and more in todays ETtech Morning Dispatch

The elite panel will assess the importance of building profitable and sustainable businesses in an environment where the growth at all costs strategy has taken a backseat.

At the Economic Times Startup Awards ceremony in Bengaluru on October 7, a high-powered panel comprising startup founders, CEOs and investors will discuss the way forward for the Indian startup and technology economy as it looks to come out of what has been one of its worst downturns. This and more in todays ETtech Morning Dispatch.

The Mumbai-based startup aims to expand its product catalogue from 500 to over 1,000 products, build more inventory and expand its growth, with the help of the funding, as per a statement.

1Password continues to add to its C-suite following new revenue milestones.

Tech funding in Bengaluru, India has dropped for the third consecutive quarter, with Q3 2023 seeing the lowest funding in the past five years. Funding decreased by 29% compared to the previous quarter and by 54% compared to Q3 2022. Late-stage, early-stage, and seed-stage funding all saw significant reductions.