The ongoing funding winter has resulted in layoffs and pay cuts for startup employees, giving rise to the question if startup founders have also seen a decline in their salaries. To answer this question and keep you up to date with the remunerations earned by the founders, Inc42 has launched the ‘Founder Salaries FY23 Tracker at INR 12 Cr.

Titan-owned jewellery startup CaratLane’s operating revenue zoomed past the INR 2,000 Cr mark in the financial year 2022-23 (FY23). The Tamil Nadu-based new-age jewellery brand’s operating revenue surged 73% to INR 2,169 Cr in FY23 from INR 1,255.6 Cr in the previous fiscal on the back of growing demand.

According to Inc42’s Indian Tech Startup Funding Report Q3 2023, there were 95 M&A deals till September 2023 as against 205 in the entire 2022. While the funding crunch resulted in some fire sales this year, several Indian corporates also acquired startups, like Reliance Retail’s acquisition of Ed-a-Mamma, to expand their businesses.

B2B healthtech startup Zyla Health has raised $4 Mn as a part of its Series A funding exercise led by Exfinity Venture Partners. The funding round also saw participation from Sony Innovation Fund, Venture Catalysts, and Aureolis Ventures. Gurugram-based Zyla Health will deploy the fresh proceeds to scale up growth across its three verticals – insurance, corporates, and pharmaceuticals.

Ola CEO Bhavish Aggarwal returned to his alma mater, IIT Bombay, for campus recruitment on Friday. "Will also be at IIT-B tomorrow morning 3 am to hire day 0 from my college when I didn't get a day 0 job myself," he wrote on X on November 30. Day Zero refers to the first day of campus recruitments at IITs.

Zoho CEO Sridhar Vembu listed two reasons why "rich people end up funding fashionable woke left causes". "1. Lack of awareness: You make money...and academic left stuff is from...parallel universe. 2. Prestige: Woke push comes from western PrestigeUniversity," Vembu said. He was replying to a post saying Tata's TISS and Ashoka University are home to most "leftist and anti-Hindu professors".

Amazon Seller Services, the tech giant's marketplace unit in India, saw flat growth in FY23. Operating revenues rose by just 3.4% to Rs 22,198 crore. Losses jumped 33% to Rs 4,854 crore after a decline in the previous year. The slowdown is linked to a drop in commissions from sellers Cloudtail and Appario, which have halted operations on the platform.

Eyewear brand Lenskart is reportedly planning to expand its Southeast Asia (SEA) market footprint with the launch of 300-400 stores in the region over the next two years. With currently about 70 stores in Singapore, the Delhi NCR-based unicorn is planning to expand into Thailand and the Philippines, cofounder and CEO Peyush Bansal.

Google-owned video streaming platform YouTube is gearing up to tackle the spread of fake news and disinformation in the lead-up to India’s general elections next year. The platform aims to provide its users with reliable news by partnering with trusted news publishers and independent journalists.

Pine Labs has launched a new platform that will help fintechs and banks manage their credit programs, launch co-branded credit cards as well as handle rewards and loyalty programs. Credit+ has received certification from both Mastercard and Visa, and plans are underway to include American Express (Amex), RuPay.