India has one of the world’s biggest start-up markets, with many clocking multi-billion-dollar valuations in recent years and getting the backing of foreign investors who have made bold bets on digital and other tech businesses.
“Especially for Indian founders … Last thing founders needed”. Uncertainty is killing them. companies and raised their initial round, SVB is default bank. Growth ones are relatively safer as they diversified.
MUMBAI, March 12 (Reuters) – India’s state minister for technology said on Sunday he will meet start-ups this week to asses the impact on them of Silicon Valley Bank’s collapse, help me homework as concerns rise about the fallout for the Indian start-up sector.
Liza, whose mother kept a blog where she would update readers on parenting a child with Down’s Syndrome, has become just the latest face of her nation’s suffering with her charred and bloodied pram seen on media outlets around the world.
While it may have been filmed under duress, the video provides some evidence that Mr Aslin remains alive, unlike Mr Urey, 45, who was captured by pro-Russian militants as he tried to rescue a woman close to Donetsk.
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Two partners at an Indian venture capital fund and one lender to Indian start-ups told Reuters that they are running checks with portfolio companies on any SVB exposure and if so, whether it is a significant part of their total bank balance.
State reservoirs that had dipped to strikingly low levels are now well above the average for this time of year, prompting state officials to release water from dams to assist with flood control and make room for even more rain.
The National Weather Service on Saturday forecasted an intensified bout of rain and snow Monday through Wednesday, with considerable flooding possible along the state’s central coast, San Joaquin and Sacramento valleys and the southern Sierra Nevada foothills into midweek.
Unshaven and in shabby clothes, Aiden Aslin, 28, is seen standing and singing the State Anthem of the Russian Federation in a 140-second video posted on the internet by the Kremlin-backed RT news outlet.
Across the Central Coast’s Monterey County, more than 8,500 people were under evacuation orders and warnings Saturday, including roughly 1,700 residents – many of them Latino farmworkers – from the unincorporated community of Pajaro.
Consumer internet startups, which have drawn the bulk of funding in India in recent years, are less affected because they either do not have an SVB account or have minimal exposure to it, the three people said.
California banking regulators shut down Silicon Valley Bank on Friday after the a run on the lender, which had $209 billion in assets at the end of 2022, with depositors pulling out as much as $42 billion on a single day, rendering it insolvent.
India’s Nazara Technologies Ltd, a mobile gaming company, said in a stock exchange filing that two of its subsidiaries, Kiddopia Inc and Mediawrkz Inc, hold cash balances totalling $7.75 million or 640 million rupees with SVB.
The atmospheric river, known as a ‘Pineapple Express’ because it brought warm subtropical moisture across the Pacific from near Hawaii, was melting lower parts of the huge snowpack built in California´s mountains.
“Start-ups are an important part of the new India economy. I will meet with Indian Startups this week to understand impact on them and how the government can help during the crisis,” Rajeev Chandrasekhar, the state minister for IT said on Twitter.
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