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Hyperdrive Raises $6 Million Series A Led by Arrington Capital and Hack VC on $8 Billion Daily Volume Hyperliquid | DeepNewz VC
Business Bytes
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1m ago
Medial
Hyperdrive, a spot lending protocol on Hyperliquid, raised $6 million in a Series A funding round. The round was led by Arrington Capital and Hack VC, with participation from Delphi Ventures, CMS Holdings, Amber Group, and Susquehanna International. Hyperdrive focuses on providing yield-generating strategies.
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Avantis Raises $8 Million Series A Led by Founders Fund, Pantera Capital to Expand $7.5B Derivatives DEX on Base | DeepNewz VC
Business Bytes
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1m ago
Medial
Avantis, a leader in onchain market expansion, secured $8 million in a Series A funding round led by Founders Fund and Pantera Capital. The company aims to provide universal leverage across all markets and has established itself as the largest derivatives decentralized exchange (DEX) on the Base blockchain, boasting over $7.5 billion in trading volume. The funding will support Avantis in further scaling its operations and enhancing onchain market accessibility globally.
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Avantis Raises $8 Million Series A Led by Founders Fund, Pantera Capital to Expand $7.5B Derivatives DEX on Base | DeepNewz VC
Business Bytes
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1m ago
Medial
Avantis, a leading derivatives DEX on Base, has raised $8 million in a Series A funding round led by Founders Fund and Pantera Capital. The company aims to expand its onchain markets, with a vision of providing universal leverage for various assets. Over the past year, Avantis has achieved significant growth, reaching over $7.5 billion in transaction volume. This funding is expected to bolster their efforts in scaling onchain markets globally.
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TheoriqAI, Backed by Hack VC, Launches OKX Wallet Campaign with $50,000 Token Airdrop and 8,700+ Participants | DeepNewz VC
deepnewz
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1m ago
Medial
Hack VC, backed by TheoriqAI, launched an OKX Wallet campaign featuring a $50,000 token airdrop, attracting over 8,700 participants within 18 hours. The strong response highlights the community's engagement, with participants eagerly signing up, completing quests, and gaining early access to Theoriq's products and ecosystem. This initiative offers a chance for early participation and engagement with Theoriq's offerings.
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UPI transactions surge 8% in December
Entrackr
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6m ago
Medial
UPI transactions surge 8% in December Unified Payments Interface (UPI) recorded 16.73 billion transactions worth Rs 23.25 lakh crore in December, marking an 8% increase in volume and a 7.88% rise in value compared to November. On a year-on-year basis, this reflects a 39% year-on-year (YoY) growth in volume and a 28% increase in value, according to data released by NPCI (The National Payments Corporation of India). The average daily transaction count for December was 540 million, with a total daily transaction value of Rs 74,990 crore. In November, the daily average transaction count was 516 million, with a daily transaction value of Rs 71,840 crore. This upward trend continued from October 2024, when UPI processed 16.58 billion transactions worth Rs 23.50 lakh crore. PhonePe currently leads the UPI market with nearly 48% share by transaction volume, followed by Google Pay at 37% and Paytm at 7%. The market share is unlikely to change as NPCI has extended the compliance timeline for Third Party App Providers (TPAPs) exceeding the volume cap in UPI. The deadline has been extended by two years, until December 31, 2026. Meanwhile, NPCI has lifted the user onboarding limit for WhatsApp Pay, allowing the platform to extend UPI services to its entire user base across the country. Currently, UPI payments are accepted in seven countries, including Bhutan, Mauritius, Nepal, Singapore, Sri Lanka, and France. According to media reports, NPCI is working to expand its services to Qatar, Thailand, and the broader Southeast Asian region.
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Dental care startup Dezy raises bridge funding from VC backers, plans larger round
VCCircle
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9m ago
Medial
- Dental care startup Dezy has raised $6 million in bridge funding from existing investors. - The funds will be used to expand Dezy's network of clinics in Bengaluru and Hyderabad. - Dezy is planning to raise a larger Series B funding round in the next 12-18 months. - The company aims to operate over 2,000 dental chairs by 2028 and generate revenue of more than Rs 1,200 crore. - Founder Hitesh Kakrani has a background in management and previously worked at P&G.
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UPI daily transactions cross 500 Mn mark
Entrackr
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11m ago
Medial
Unified payments interface (UPI) has crossed the milestone of processing 500 million transactions on a daily basis for a couple of times in August. This is a significant jump in daily volume as the Indian government has set the ambitious target of clocking 1 billion transactions per day by 2026-27. As per data published by the NPCI, UPI crossed 500 million transaction count on August 2 and August 5. However, this is the third instance when UPI achieved the milestone. The previous was on July 2, 2024, according to UPI data analyzed by Entrackr. To recall, UPI first crossed 500 million transactions on a monthly basis for the first time in November 2018 and it took less than six years to achieve the same feat on a daily basis. This also shows that the NPCI has developed a robust platform which can handle ever-growing scale. Currently, there are very few companies in India and overseas that are capable of processing over 50 crore transactions on a daily basis. “0.5 Bn/day. Time to revise the India Vision from 1 billion / day to 100 Bn/month,” said NPCI CEO Dilip Asbe on X. In July, UPI transactions rose 3.95% month-on-month to 14.44 billion from 13.89 billion in June. Volume wise, PhonePe had 48.3% market share in UPI as of June followed by Google Pay and Paytm with 36.7% and nearly 8% market share, respectively. A bunch of new players such as CRED, NAVI, Groww, Slice and recently launched Flipkart UPI are also clocking decent volumes in UPI. The volume breakup for July is yet to be published. NPCI has also launched a credit line on UPI facility in which ICICI Bank is one of the leading banks with other five to six lenders. Recently, NPCI chief operating officer (COO) Praveena Rai said that UPI is adding up to 6 million new users every month. Besides India, NPCI has launched the instant payments services in foreign countries including Singapore, France, Mauritius, Nepal, Bhutan, Sri Lanka and the UAE.
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Pendle Finance Nears $1 Billion TVL in Stablecoins, $50M USDS Market, Up to 36% APY Backed by Tiger Global and Sequoia | DeepNewz VC
deepnewz
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1m ago
Medial
Pendle Finance approaches a $1 billion TVL, with its stablecoins reaching a market size of $50 million, offering up to 36% APY. Meanwhile, Scallop has launched an incentive program for its borrowing pools active from May 25 to June 1. Scallop’s key statistics show over $648 billion in total lending volume, $105 billion in borrowing, and $8.63 billion in flash loan volume, maintaining an average utilization rate noted in their latest updates.
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FMCG sector to see 7-9 pc revenue growth this fiscal: CRISIL Ratings
YourStory
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1y ago
Medial
According to a report by CRISIL Ratings, the fast-moving consumer goods (FMCG) sector is projected to experience revenue growth of 7-9% in the current fiscal year. This growth is expected to be driven by increased volume and demand in both rural and urban areas. The food and beverage segment is estimated to grow by 8-9%, while personal care and home care segments are predicted to grow by 6-7% and 8-9% respectively. To expand their offerings, FMCG companies will also explore inorganic opportunities, while sustained growth in the rural economy will play a crucial role in generating consistent demand.
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Anduril Raises $2.5 Billion Series G Led by Founders Fund, Valuation Jumps to $30.5 Billion from $14 Billion | DeepNewz VC
Business Bytes
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1m ago
Medial
Anduril Industries Inc., a defense technology company, has raised $2.5 billion in a Series-G funding round led by Founders Fund, boosting its valuation to $30.5 billion.
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Wander Raises $50 Million Series B Led by QED, Total Funding $100M+, Expands to 1,000+ Locations | DeepNewz VC
Business Bytes
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1m ago
Medial
Wander has successfully secured $50 million in a Series B funding round, elevating their total funding to over $100 million. This round was led by QED Investors and Fifth Wall, with participation from Redpoint. The funds aim to support Wander's expansion efforts in the luxury travel industry, as stated by John Andrew Entwistle, the company's Founder and CEO.
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