Microsoft’s AI efforts are making big strides in India, with the country emerging as one of the company’s fastest-growing markets. In a recent event held in Bengaluru, Mustafa Suleyman, the CEO of Microsoft AI, shared insights on how India is playing a crucial role in shaping the future of artificial intelligence. With an expanding market and a strong local workforce, India is quickly becoming…
Space exploration is no longer just about launching rockets—it’s about creating cutting-edge technology that makes space more accessible. XDLINX Space Labs, a young but ambitious space startup, has raised $7 million in seed funding to help make this vision a reality. With backing from prominent investors like Ashish Kacholia of Lucky Investments and firms like E2MC and Mana Ventures, XDLINX is…
Lenskart, India’s leading omnichannel eyewear retailer, has posted a 43% growth in revenue for the fiscal year 2024, reaching Rs 5,427 crore, but it faced a slower pace of growth compared to the previous year. Despite its continued success in terms of revenue, the company reported a small loss of Rs 10 crore, showing its careful efforts to balance growth and cost management.
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In a major development for the fintech and SME export sectors, MODIFI, a tech-driven financial solutions startup, has successfully raised $15 million in a new funding round. The investment, led by the SMBC Asia Rising Fund, marks a significant step in MODIFI’s mission to support small and medium-sized enterprises (SMEs) across Asia with innovative cross-border financing solutions.
This strategic…
In a bold move to disrupt the traditional home financing sector, Easy Home Finance, a leading lending tech startup, has raised a whopping $35 million in its Series B funding round. The round was co-led by Claypond Capital, the investment office of Manipal Group’s Ranjan Pai, and Sumitomo Mitsui’s Asia Rising Fund, with support from existing investors including Xponentia Capital, Finsight…
Swiggy, India’s popular food and grocery delivery platform, is making major moves as it prepares for its highly anticipated Initial Public Offering (IPO). The company has successfully raised ₹5,085 crore (around $600 million) from more than 75 anchor investors. This marks a key milestone ahead of the official IPO launch, set to happen soon. Here’s everything you need to know about Swiggy’s…
In a major strategic move, Veefin Solutions, a listed fintech startup, has made its first overseas acquisition by purchasing a 50% stake in Walnut, a Singapore-based GenAI startup. This all-cash deal marks a significant milestone for Veefin as it expands its global footprint, adding cutting-edge artificial intelligence (AI) capabilities to enhance its offerings for corporate and banking…
In a recent controversy surrounding Zomato’s Hyperpure warehouse, Deepinder Goyal, the company’s CEO, addressed the issue of incorrectly labeled mushroom packets. The problem, which initially drew attention from the Telangana Commissioner of Food Safety, revolved around a small batch of mushroom packets with a future packaging date. Despite the uproar, Goyal defended the company, calling it a…
In a bold move to tap into India’s growing IT hardware manufacturing sector, Dixon Technologies, a leading homegrown electronics manufacturer, has announced the launch of a wholly-owned subsidiary called Dixon Teletech. This new venture will focus on manufacturing and dealing in IT hardware components, products, and equipment. The announcement comes as India is rapidly becoming a hub for…
When it comes to managing money, one lesson stands out, and it’s coming straight from one of India’s most successful entrepreneurs—Anupam Mittal, the founder of Shaadi.com and a prominent judge on Shark Tank India. In a recent conversation with 1% Club, Mittal shared a powerful and unexpected insight into how money works, and why even the wealthiest people need to be cautious about managing…
