Pune-based biotech startup Ahammune Biosciences has successfully raised $5 million in Series A funding, led by pi Ventures, to further its mission of developing innovative treatments for skin diseases. Other participants in the funding round included Capital2B, Colossa Ventures, Bipin Agarwal, Unicornus Maximus LLP, and existing investors such as Ideaspring Capital, Kotak Alternate Assets, Legacy…
Zerodha, India’s largest stock broking platform, has announced impressive financial results for FY24, reporting a revenue of ₹8,320 crore and a profit of ₹4,700 crore, according to CEO and co-founder Nithin Kamath. This marks a significant increase from FY23, when the company recorded revenue of ₹6,875 crore and profit of ₹2,907 crore.
The growth trend continues, as Zerodha’s net…
Bengaluru-based quick-commerce platform Swiggy has received approval from the Securities and Exchange Board of India (SEBI) for its proposed $1.25 billion Initial Public Offering (IPO). According to reports from the Economic Times, Swiggy filed draft papers for the IPO using the confidential route back in April.
Following this approval, Swiggy must submit an updated draft red herring prospectus…
Atlys, a startup focused on simplifying visa processing, has successfully raised $20 million in its Series B funding round, co-led by Peak XV Partners and Elevation Capital. This funding round attracted participation from existing investors and notable newcomers such as DST Global and Headline. The capital infusion aims to bolster Atlys’ expansion efforts, enhance product development, and scale…
InCore Semiconductors, incubated at IIT-Madras, aims to build a robust semiconductor ecosystem in India, starting with embedded processors for everyday devices. In May 2023, the venture secured $3 million in seed funding from Peak XV (formerly Sequoia Capital’s India and Southeast Asia unit) to advance its development of semiconductor processors based on the RISC-V open-source architecture.
The…
In a significant legal ruling, the Delaware Supreme Court has determined that Indian edtech giant Byju’s defaulted on a $1.5 billion loan, paving the way for lenders to exercise their rights to recover assets and enforce repayment. The decision, issued on September 23, 2023, grants lenders the authority to take control of Byju’s assets in the United States, specifically Byju Alpha Inc., a…
CoRover, the innovative company behind BharatGPT, has successfully raised $4 million (approximately INR 33.4 crore) in a Series A funding round led by Venture Catalysts. This substantial investment aims to scale its conversational AI chatbot capabilities, leveraging large language models to enhance user interaction and service delivery.
The Significance of the Funding Round
The recent funding is a…
In a rapidly evolving tech landscape, Indian startups are dedicated to democratizing artificial intelligence (AI) through innovative infrastructure. Pioneering efforts like People+AI and Open Cloud Compute are setting the stage for broader AI access, inspired by India’s digital public infrastructure (DPI).
Tanuj Bhojwani, a key figure behind People+AI, reflects on his journey from attempting to…
Oister Global, a Gurugram-based investment firm, has partnered with Tribe Capital India to launch a new fund focused on secondary market transactions. This fund aims to invest $500 million over the next two years as interest in secondary private market transactions in India continues to rise.
In the past four to five years, India has seen $7.7 billion transacted in the secondary market, according…
In a significant move towards sustainable transportation, myTVS, part of the $3 billion TVS Mobility Group, has officially launched its Mobility-as-a-Service (MaaS) platform, specifically designed for last-mile electric vehicle (EV) fleet operators across India. This innovative platform aims to provide comprehensive vehicle management services, positioning myTVS as a key player in optimizing EV…
