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This Week's Hottest: Summing up the Biggest Indian start-up/Tech news! 1. OKX, one of the largest crypto exchanges in terms of trading volume, is shutting down its services in India. Citing local regulatory hurdles, the Seychelles-headquartered exchange notified its users in the country to close their accounts and redeem funds before April 30. 2. Prosus-backed virtual events platform Airmeet laid off around 20% of its entire workforce earlier this week, as part of its second restructuring exercise within a year, people aware of the matter informed Inc42 on the condition of anonymity. 3. Co-founders of AI-focused startup Builder.ai have reportedly been booked by the Enforcement Directorate in connection with two separate criminal cases. Sachin Dev Duggal is named as a suspect in an alleged money laundering case, while Saurabh Dhoot is linked to an alleged loan fraud case. 4. Ministry of Information and Broadcasting advised endorsers and influencers on social media to refrain from promoting or advertising offshore online betting and gambling platforms. 5. Weekly basis, startup funding within the Indian Ecosystem grew 56% to $447.35 million (around INR 3,735 Cr.) across 22 deals. Last week, 30 startups raised around $287 million (around INR 2,392 Cr.) in funding. 6. French influencer Marketing firm YKONE stake in the Mumbai-based content and influencer marketing agency, Barcode for an estimated valuation of $18-20 million 7. Additionally, foodtech major Zomato has received a GST penalty notice from Gujarat’s Deputy Commissioner of State Tax for fiscal 2018-19. Zomato has been asked to pay Rs 4.11 crore for GST, along with additional interest and penalty charges totaling Rs 8.57 crore following an audit of its GST returns and accounts. 8. Dream11 Shines On IPL Debut, Onboards 11 Lakh New Users to its Fantasy Cricket Platform. 9. SubKo Coffee has raised Rs 85.10 crores (around $10 million) in a Series B funding round. Notable existing investors that subscribed via rights issue include Pallavi and Srinivas Dempo, Jay Mehta, Gauri Khan Family Trust, and John & Priya Abraham. 10. Automaker Maruti Suzuki India has acquired a 6.44% stake in Amlgo Labs, an AI and machine learning startup, for approximately Rs 2 crore. 11. Indian fintech startup Yenmo has raised $500,000 (around INR 4.1 Cr) in a seed funding round led by Y Combinator Stay Updated. Stay Informed. Stay Ahead. Share Medial App within your network and friends to grow this community. Please rate us on iOS AppStore/ Google Play Store to help us be visible to more awesome folks like you! New Features Coming Soon. Complete/Update Your Profiles!