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Top News of the Week: 1. Funding: - This week, as many as 22 Indian startups raised around $116.26 million in funding. These deals count 4 growth-stage deals and 16 early-stage deals while 2 early-stage startups kept the transaction details undisclosed. - Among growth-stage deals, 4 startups raised $80 million in funding this week. Wealthtech platform Dezerv spearheaded with its $32 million Series B round. E-commerce roll-up brand Goat Brand Labs, B2B e-commerce firm Infra.Market, and higher education services platform CollegeDekho followed with $21 million, $18 million, and $9 million in funding, respectively. - Moreover, 16 early-stage startups secured funding worth $36.26 million during the week. Biotech brand Immuneel Therapeutics led the list followed by semiconductor startup iVP Semi, Marathi OTT platform Planet Marathi OTT, consumer electronics manufacturer Circuit House Technologies, and healthcare-focused fintech startup Care.fi. - QSR chain House of Briyan, online real-estate broker Jugyah, and electronics renewal and refurbishment startup QarmaTek also raised funding among others - On a weekly basis, startup funding declined 57% to $116.26 million as compared to around $270.3 million raised during the previous week. 2. Top Hires & Exits: - Zepto elevated Devendra Meel to Chief Business Officer, effective July 2024, to lead category management and brand partnerships. - Petzzco appointed former cricketer Ravi Shastri as principal advisor and brand ambassador. - Grip announced its expansion into fund management and portfolio management distribution services, with Founder Nikhil Agarwal transitioning to Group CEO to co-lead the EV management platform - Electrifi Mobility. Adrenalin eSystems appointed Sanjay Kamath as Senior Vice President and Business Head. - Medikabazaar’s cofounder Vivek Tiwari stepped down as CEO and took a board role, with the company undergoing a management restructuring and audit by PwC. - Zoomcar’s global president Adarsh Menon resigned, following the termination of cofounder Greg Moran from the CEO position. 3. M & A: - Google-backed edtech company Adda247 acquired the CA test preparation platform Ekagrata Eduserv. - Fintech startup CASHe entered the insurance broking sector by acquiring Centcart Insurance Broking Services. - Melooha acquired Bengaluru-based Munitalks to enhance its AI astrological offerings. - Edtech platform Schoolnet acquired K-12 focused quiz-based learning app Genius Teacher in an all-stock deal. - IT major Accenture acquired Bengaluru-based chip design startup Excelmax Technologies. - Construction giant L&T is also acquiring a semiconductor design startup SiliConch Systems in exchange for Rs 183 crore. 4. Other Major Developments: - Farm-to-fork firm Otipy is set to raise fresh capital in an extended series B round from new and existing investors. - Generative AI startup Simplismart is preparing to raise a new round led by Accel. - Despite the ‘funding winter’ in edtech, PhysicsWallah (PW) is close to securing a new large round. - Goldman Sachs is reportedly looking to invest $30-50 Mn in Bengaluru-based SaaS provider MoEngage via a secondary deal. - Vidyut launches offline platform for pre-owned commercial EV sales and financing - Wow Skin Science forays into the cosmetic category with the launch of ‘Color Cupid’ - Exotel crosses 400 Cr revenue in FY23; losses jump 2.5X - Tata 1mg’s revenue nears Rs 2,000 Cr in FY24; losses down by 75% - OfBusiness revenue nears Rs 20,000 Cr in FY24; profits crosses Rs 600 Cr - Blackbuck files DRHP; Accel to divest 24.2% of OFS - Paytm received a nod from Govt. to invest Rs 50 Cr in Payment Services - Menhood to raise Rs 19.5 Cr via IPO on NSE Emerge - Invesco marks down valuations of IPO-bound Swiggy and Pine Labs Stay Updated. Stay Informed. Stay Ahead. Share the Medial App with your network, colleagues, and friends. Let's brainstorm, discuss together and help each other achieve our goals. And don't forget to rate us on the iOS App Store and Google Play Store to help us reach even more amazing people like you.