Latest news with #Prosus
Entrepreneur
a day ago
- Business
- Entrepreneur
Four Women-Led Startups Win Equity-Free Grants in Prosus Tech FoundHER Challenge
You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Prosus has announced the winners of the inaugural Prosus Tech FoundHER Challenge in association with Encubay, awarding a total of USD 100,000 in equity-free grants to four women-led startups. The initiative addresses a significant funding gap in India's startup ecosystem, where women-led ventures receive less than 5% of global venture capital. Lightbulb, an Emotion AI platform that combines visual and conversational AI to analyse digital user engagement, received the top prize of USD 50,000. RxMen, a digital health platform focused on men's sexual wellness, was awarded USD 30,000. Varaha, which enables smallholder farmers to generate carbon credits, and Digital Paani, an IoT platform for wastewater treatment, shared third place and received USD 20,000 collectively. The competition attracted 120 applications from startups across 22 cities, spanning 14 sectors including artificial intelligence, climate technology, healthcare, fintech, and agritech. Seven finalists presented to a jury of seasoned investors and industry leaders. "We launched this challenge to spotlight and support women building game-changing solutions in tech. The quality of innovation we've seen is inspiring—and this is just the beginning," said Prajna Khanna, VP and Global Head of Sustainability at Prosus. The judging panel included Apurva Dixit, Investor at Blume Ventures; Ronak Sandil, Director of Investments and Corporate Development at Amazon; Archana Jahagirdar, Founder and Managing Partner at Rukam Capital; Martin Tshopp, CEO of Prosus Ventures; and Priyanka Chopra, CFO of Prosus Ventures. Ashutosh Sharma, India Head of Investments and M&A at Prosus Ventures, and Prajna Khanna represented Prosus and Naspers. Former Union Minister Smriti Irani graced the event as Guest of Honor. Deeksha Ahuja, Founder of Encubay, stated, "Women entrepreneurs are developing solutions to complex challenges using advanced technology. This partnership with Prosus creates infrastructure to make entrepreneurship truly gender-neutral." By addressing structural barriers early, organisers hope to increase both visibility and opportunity for women founders. Beyond capital allocation, the FoundHER Challenge provides winners with ongoing mentorship and access to Encubay's startup accelerator network and Prosus portfolio company resources. All seven finalists will receive continued support to facilitate growth and scaling opportunities. "Investing in women founders in India's tech sector drives innovation and economic growth. Women-led startups raised USD 930 million in 2024. Initiatives like the Prosus Tech FoundHER Challenge provide crucial financial support and mentorship to women entrepreneurs, fostering inclusion and empowerment. Vaia is proud to support Prosus on this initiative," said Shruthi Iyer, Founder of Vaia. The initiative comes as data shows Indian women-led startups received less than 3% of total venture funding in 2023, highlighting persistent gender disparities in startup investment. "It's about merit, not gender—these founders earned their place. Prosus has created a powerful platform to spotlight women-led innovation, and it's clear we need more of this," said Archana Jahagirdar, Founder and Managing Partner of Rukam Capital.
IOL News
2 days ago
- Business
- IOL News
Prosus's chief investment officer to step down
Dutch technology investor Prosus said on Tuesday that Ervin Tu, the group's President and Chief Investment Officer will step down from his role.. Dutch technology investor Prosus said on Tuesday that Ervin Tu, the group's President and Chief Investment Officer will step down from his role. Tu will remain in his role as an advisor to the group, the company's statement added. Prosus' vision and strategy has changed significantly over the past 10 months under CEO Fabricio Bloisi, transforming the company from an investment holding group into an operating technology company, focused on lifestyle e-commerce, within its key markets of Latin America, India and Europe. As a result, Tu feels that now is the right time to move on, said the company, controlled by South Africa's Naspers . "I have enjoyed my time with the group immensely, I've accomplished what I wanted to achieve, and the Group is in very good hands," Tu said. Since he joined in August 2021, Tu has led important group initiatives, such as simplifying the group's structure, improving group-wide financial performance, implementing the ongoing share repurchase programme, and enhancing the operations of the investment team, Prosus said. "Ervin has made significant contributions to our people, strategy and capital allocation – as CIO, as interim CEO and as President. I am very grateful to him for his counsel and support," Bloisi added. REUTERS
Economic Times
2 days ago
- Business
- Economic Times
Prosus chief investment officer Ervin Tu to step down
Dutch technology investor Prosus said on Tuesday that Ervin Tu, the group's President and Chief Investment Officer will step down from his role. Tu will remain in his role as an advisor to the group, the company's statement added. Prosus' vision and strategy has changed significantly over the past 10 months under CEO Fabricio Bloisi, transforming the company from an investment holding group into an operating technology company, focused on lifestyle ecommerce, within its key markets of Latin America, India and Europe. As a result, Tu feels that now is the right time to move on, said the company, controlled by South Africa's Naspers . "I have enjoyed my time with the group immensely, I've accomplished what I wanted to achieve, and the Group is in very good hands," Tu said. Since he joined in August 2021, Tu has led important group initiatives, such as simplifying the group's structure, improving group-wide financial performance, implementing the ongoing share repurchase programme, and enhancing the operations of the investment team, Prosus said. "Ervin has made significant contributions to our people, strategy and capital allocation - as CIO, as interim CEO and as President. I am very grateful to him for his counsel and support," Bloisi added.
Mint
2 days ago
- Business
- Mint
Prosus Chief Investment Officer Ervin Tu to Step Down
(Bloomberg) -- Prosus NV's President and Chief Investment Officer Ervin Tu will step down from his role after a nearly four-year tenure during which the South African-Dutch tech investment company restructured itself and appointed a new chief executive officer. Tu, who joined in August 2021, will stay on as an adviser, the company said in a statement on Tuesday. He had served as acting CEO before the appointment of Fabricio Bloisi last year. 'I've accomplished what I wanted to achieve, and the group is in very good hands,' Tu, 49, said in the statement. Tu had taken on the interim CEO role after Bob van Dijk stepped down in 2023, and was part of the team that attempted to simplify the group's complex ownership structure and reignite growth in its core business. The Amsterdam-based technology investor is majority-owned by Cape Town-based Naspers Ltd., which had spun off and listed Prosus in 2019, maintaining the same management team across both groups. Naspers was an early investor in Chinese internet giant Tencent Holdings Ltd., and as the Tencent holding ballooned in value over the years, the investment distorted Naspers's share price. The split, giving Prosus control over the Tencent stake and the group's other technology investments, was an attempt to address that. Bloisi was appointed to the CEO role for both companies in 2024, joining from a Prosus portfolio company — Brazilian delivery business iFood. He will earn a $100 million bonus if he can double Prosus's market value by the end of June 2028 and maintain it for another year. Under Bloisi, the company is expanding through deals including the €4.1 billion ($4.7 billion) acquisition of Just Eat NV and a $1.7 billion deal for online travel agency Corp. Prosus's shares have gained 36% since July 1. --With assistance from Rene Vollgraaff. (Updates with additional details throughout) More stories like this are available on
Time of India
3 days ago
- Business
- Time of India
Prosus chief investment officer Ervin Tu to step down
Prosus' vision and strategy has changed significantly over the past 10 months under CEO Fabricio Bloisi, transforming the company from an investment holding group into an operating technology company, focused on lifestyle ecommerce, within its key markets of Latin America, India and Europe. As a result, Tu feels that now is the right time to move on, said the company, controlled by South Africa's Naspers . Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Dutch technology investor Prosus said on Tuesday that Ervin Tu , the group's President and Chief Investment Officer will step down from his will remain in his role as an advisor to the group, the company's statement vision and strategy has changed significantly over the past 10 months under CEO Fabricio Bloisi , transforming the company from an investment holding group into an operating technology company, focused on lifestyle ecommerce, within its key markets of Latin America, India and a result, Tu feels that now is the right time to move on, said the company, controlled by South Africa's Naspers "I have enjoyed my time with the group immensely, I've accomplished what I wanted to achieve, and the Group is in very good hands," Tu he joined in August 2021, Tu has led important group initiatives, such as simplifying the group's structure, improving group-wide financial performance , implementing the ongoing share repurchase programme, and enhancing the operations of the investment team, Prosus said."Ervin has made significant contributions to our people, strategy and capital allocation - as CIO, as interim CEO and as President. I am very grateful to him for his counsel and support," Bloisi added.
