Startup Around

Bengaluru-based edtech startup Embibe reported that it received a funding of Rs 500 crore from its existing investor and shareholder Reliance Industries.

At a premium of Rs 999, the total funding is valued at Rs 500 crore, at a dividend rate of 12 percent per annum, which will be compounded every quarter.

Along with the dividend, the CCP shares will be converted into equity shares over a certain amount of time.

Earlier, this February, Embibe also raised a funding of Rs 89.91 crore from Reliance Industries.

In December 2019, Embibe, under the proprietary name Indiavidual Learning Private Limited, announced that it picked up equity shares in Bengaluru-based K12 startup Funtoot (eDreams Edusoft). | To read full story, visit https://startuparound.com/read/1586170806.3411136/[Funding-alert]-Reliance-Industries-invests-Rs-500-Cr-in-edtech-startup-Embibe?ref=audio_experience

NEW DELHI: Food ordering and delivery platform Swiggy on Monday said it has raised an additional amount of $43 million (over Rs 325 crore) as part of its ongoing Series-I funding round.The size of the round now stands at $156 million.

In February 2020, Swiggy raised $113 million (over Rs 805 crore) in the funding round led by existing investor Prosus N.V. along with participation from Meituan Dianping and Wellington Management Company Along with existing investor Tencent , new investors Ark Impact Samsung Ventures and Mirae Asset Capital Markets have participated in the latest fund raise, Swiggy said in a statement.

"Swiggy has built a sustainable food delivery business over the years while solving various customer pain points.

As we continue to strengthen and expand our services that offer unparalleled convenience to our consumers, we are humbled by the faith shown by our investors year-on-year and welcome the new investors on board," Swiggy Chief Financial Officer Rahul Bothra said.The company's focus remains to execute its vision while building a sustainable path to profitability, he added. | To read full story, visit https://startuparound.com/read/1586169005.2206907/Swiggy-raises-additional-$43-mn-as-part-of-ongoing-funding-round?ref=audio_experience

Here, Misah Maragh, senior compliance manager at MVF, explains which cybersecurity measures small businesses can put in place to protect themselves.

How can small businesses manage cyber security, and why?

“Before allowing your staff to work from home, ensure that they have completed information security training, or alternatively, have read your information security policy.

Advise your employees to shutdown their laptops at the end of the day to allow for any updates.”Which cyber security tips would you offer to small businesses during coronavirus specifically?

“It is ever-changing and cyber security options need to be continuously revisited. | To read full story, visit https://startuparound.com/read/1586167205.0508955/How-to-keep-your-small-business-safe-from-cyber-attacks?ref=audio_experience

NextBigWhat Huddle aims to bring you different format of content – we started with great AMAs and will now bring you a lot more actionable content, i.e.

On Tuesday (April 7th), we have Husain Ghadially, Product Manager at GoJek’s GoFood business sharing how to design massively scaled search experiences.

Husain is currently the Product Manager with the GoFood team at Gojek.

He has set up the GoFood search team which is responsible for building a food search engine that uses multi-objective optimisation to deliver the best search experience to users, create revenue for restaurants, and income for driver-partners, at the scale of tens of millions of searches per day.

The NextBigWhat Huddle is brought to you in partnership with MoEngage, an Intelligent Customer Engagement Platform trusted by enterprises in 35 countries and GoJek. | To read full story, visit https://startuparound.com/read/1586165405.4088185/How-to-design-massively-scaled-search-experiences:-Workshop-by-GoJek-PM,-Husain-[Huddle]?ref=audio_experience

Reliance is all set to take its music streaming service JioSaavn public as per filings of the company’s special resolutions.

In a meeting on the same day, the board of JioSaavn approved the plan for the company to convert into a public company.

Currently, the audio streaming service offers its premium service, JioSaavn Pro, at INR 99 per month and INR 399 for the full year.

Between 2018 and 2019, key international players such as Spotify, Amazon, and Apple have marked their entry into the Indian music streaming OTT industry.

According to research firm Statista, with a market volume of $4.5 Bn in 2019-20, most of the music streaming revenue is generated in the United States. | To read full story, visit https://startuparound.com/read/1586163605.418094/Reliance-Invests-$10-Mn-In-JioSaavn-As-It-Plans-To-Go-Public?ref=audio_experience

Check out the pitch deck that London fintech Yapily used to raise $13 million in funding from Lakestar despite coronavirus | To read full story, visit https://startuparound.com/read/1586161806.3748453/Check-out-the-pitch-deck-that-London-fintech-Yapily-used-to-raise-$13-million-in-funding-from-Lakestar-despite-coronavirus?ref=audio_experience

Retirement fund body EPFO will accept online its subscribers' Aadhaar card as valid proof to rectify their date of birth to ensure that the account is KYC compliant, the labour ministry said on Sunday.

According to the statement, the date of birth recorded in Aadhaar will now be accepted as valid proof of date of birth for the purpose of rectification, provided that the difference in the two dates is less than three years.

The PF subscribers can submit the correction requests online.

It said that this will enable the EPFO to validate the birth date of members online with Unique Identification Authority of India (UIDAI) instantaneously, thus authenticating and reducing the processing time of change requests.

The EPFO has instructed field offices to expedite disposal of online requests, enabling Provident Fund members in financial distress, to apply online for availing non-refundable advance from their PF accumulations to tide over COVID-19 pandemic. | To read full story, visit https://startuparound.com/read/1586160005.4771593/Coronavirus:-EPFO-to-accept-Aadhaar-as-birth-proof-online-from-subscribers?ref=audio_experience

Officials of finance ministry, banks, and other public sector financial entities under the administrative control of the ministry have contributed Rs 430.63 crore towards PM CARES Fund for providing assistance to those impacted by COVID-19 pandemic.

Besides, officials of Central Board of Direct Taxes and Central Board of Indirect Taxes have garnered Rs 23 crore for the fund, while Revenue Department officials have pooled in Rs 2 crore.

Out of the Rs 430 crore, nearly half of it -- Rs 228.84 crore -- is estimated salary contribution to the fund.

Earlier last week, the Finance Ministry has released Rs 17,287 crore to states to enhance their financial resources during the COVID-19 crisis.

Of this amount, Rs 11,092 crore is towards State Disaster Response Mitigation Fund (SDRMF) to all states. | To read full story, visit https://startuparound.com/read/1586158205.3799872/FinMin-officials,-banks,-FIs-contribute-Rs-430-Cr-to-PM-CARES-Fund?ref=audio_experience

Thousands of personal Zoom call videos have now been left open to view on the internet including therapy sessions, telehealth calls and school classes with childrens faces and details exposed.

This is due to a major vulnerability in the naming scheme employed by Zoom for the recordings that are stored in private storage space.

This means that anyone doing a simpe online search can find and view all the videos.

Zoom CEO Eric Yuan has apologized for Zoom falling short of users’ “privacy and security expectations”. | To read full story, visit https://startuparound.com/read/1586156406.1832662/Thousands-of-Zoom-video-left-exposed-online-in-major-privacy-risk?ref=audio_experience

Infosys Co-founder Narayana Murthy-backed Acko General Insurance has launched an AI-based COVID-19 symptom checker, and also plans to provide free doctor consultation on call.

The AI-based symptom checker, curated by a team of doctors, is based on the World Health Organisation (WHO) and Ministry of Health and Family Welfare guidelines.

Varun Dua, Founder of Acko General Insurance.

"Right now, people are anxious...the regulator has already clarified that if you have health insurance, COVID-19 is already covered.

Founded in 2016 by Varun Dua, Acko General Insurance offers insurance products of relevance catering to the needs of digitally-savvy consumers. | To read full story, visit https://startuparound.com/read/1586154605.8538394/Acko-General-launches-AI-based-Covid-19-symptom-checker?ref=audio_experience