Overview of the Funding Round
FlexiLoans, a prominent digital non-banking financial company (NBFC) specializing in loans for micro, small, and medium enterprises (MSMEs), has successfully raised Rs 290 crore in its Series C funding round. This significant capital infusion was led by a consortium of global investors, including Accion, Nuveen, and Fundamentum, backed by Nandan Nilekani. Existing…
Introduction
In a groundbreaking move for the semiconductor industry, India’s Larsen & Toubro (L&T) Semiconductor Technologies has entered a research and development partnership with IBM. This collaboration aims to design advanced processors that could reshape various technology sectors, including edge devices, hybrid cloud systems, and more.
Strategic Partnership Overview
L&T Semiconductor…
Mumbai-based gaming giant Nazara Technologies has significantly bolstered its position in the esports industry with a strategic acquisition. Through its wholly-owned subsidiary, Nazara Dubai FZ, Nazara has acquired a 15.86% stake in GetStan Technologies Pte. Ltd (STAN) for ₹18.4 crore. This all-cash secondary transaction marks a pivotal move for Nazara as it continues to strengthen its foothold…
Sergey Brin, co-founder of Google, has returned to the tech giant and is heavily involved in its artificial intelligence (AI) initiatives. Brin confirmed his return during a fireside chat at the All-In Summit, where he discussed his role in advancing Google’s AI efforts and the company’s approach to building a more unified AI model.
Brin, who stepped down as president of Google’s parent…
Supersquad, a burgeoning startup specializing in creator monetization through curated travel experiences, has successfully raised ₹2.1 crore in a pre-seed funding round. The funding was led by WLDD and saw participation from prominent angel investors Nitin Rajput and Jivraj Singh Sachar.
Investment and Growth Plans
The newly acquired capital will be directed towards enhancing Supersquad’s…
In a dramatic turn of events on September 10, 2024, a 26-year-old man named Mohammad Nadeem set fire to an Ola Electric showroom in Kalaburagi, North Karnataka, after encountering persistent issues with his newly purchased electric scooter.
Incident Details
According to reports, Mohammad Nadeem, who is a mechanic by trade, had purchased the scooter just two weeks prior. Despite multiple visits to…
Property listing platform Rightmove has turned down a £5.6 billion acquisition offer from Australian rival REA Group, which is majority-owned by Rupert Murdoch’s News Corporation. Rightmove’s board dismissed the bid as “wholly opportunistic,” stating that REA Group had “fundamentally undervalued Rightmove and its future prospects.”
In a statement issued on Wednesday, Rightmove’s…
Nutrabay, a direct-to-consumer (D2C) retail brand specializing in sports nutrition and wellness, has raised $5 million in its Series A funding round. This maiden institutional round, led by RPSG Capital Ventures with participation from Kotak Alternate Asset Managers, marks a significant milestone for the Gurugram-based company.
Founded in 2017, Nutrabay operates a multi-brand retail store…
Experian India’s latest whitepaper, titled “Small is BIG: How Fintechs are Revolutionising Lending,” underscores the transformative role fintech companies are playing in India’s financial landscape. The report highlights how these digital platforms have significantly increased their market share and impact, particularly in providing small-ticket loans to previously underserved segments of…
Phil Chambers, CEO of Orbex, is steering the UK-based aerospace startup into new territory as the nation embarks on an ambitious journey to establish its own space capabilities. Chambers, who previously revolutionized the software industry with ventures like Gumtree, Qype, and Peakon, is now focused on a groundbreaking mission: to create the UK’s first vertical launch space rocket.
Chambers’…
