Feed Post

Top News of the Week: 1. Funding: - 35 Indian startups raised around $261.21 million in funding, this week - On a weekly basis, startup funding bounced back by nearly 125% to $261.21 million as compared to around $116 million raised during the previous week. - 9 startups raised $168.63 million in funding this week. Home service marketplace Urban Company spearheaded with its $38 million secondary funding round. Education loan-focused NBFC Auxilo, fintech firm Blacksoil, and EV ride-hailing service provider BluSmart followed with $30 million, $24.8 million, and $24 million in funding, respectively. - 22 early-stage startups secured funding worth $92.58 million during the week. - Gen-z focused fast fashion D2C brand Newme led the list followed by artificial intelligence startup UptimeAI, community-led mobility app Namma Yatri, NBFC Seeds Fincap, and multi-category biscuit manufacturer Nurture Well. - Edtech platform focused on engineering education byteXL, EV bus startup FreshBus, and aquatech startup Boon also raised funding among others. 2. ESOP Buybacks: - Swiggy, the food delivery giant, announced a $65 million ESOP liquidity program. This marks its fifth such program since 2018, allowing employees across the company to sell their stock options (ESOPs) in a secondary market. This program follows two consecutive events held in July 2022 and 2023. 3. Top hirings and departures: - In key leadership moves, wealthtech startup Fisdom appointed Girish Venkat to head its wealth management business. - Logistics unicorn Delhivery strengthened its operations by bringing Prashant Gazipur on board as a senior vice president. - Early-stage VC firm Orios Venture Partners bolstered its investment team with Madhav Tandan as a senior partner. - Bengaluru-based startup Simplilearn sees the departure of its chief product officer, Anand Narayanan, after an eight-year stint with the company. - Following the co-founder Hemesh Singh’s exit, Jagnoor Singh, COO of Unacademy’s offline centers, is also resigning. 4. Acquisitions: - Talent management and influencer marketing firm Collective Artists Network has acquired AI-based platform galleri5 to expand its creator and content ecosystem. The acquisition will allow the firm to expand its tech-based integrated solutions ranging from talent management, creator tech, influencer marketing and consultancy. - Listed gaming major Nazara has fully acquired Paper Boat Apps Pvt Ltd after picking up 48.42% from its promoters Anupam and Anshu Dhanuk for INR 300 Cr. It will allow the company access to PBA’s healthy cash flows that can be reinvested for organic as well as inorganic growth. 5. Other Major Developments: - Paytm reports Rs 1,501.6 Cr revenue and Rs 840 Cr loss in Q1 FY25 - Jio Financial Services reports flat growth in Q1 FY25 as interest income declines 43% - Kunal Bahl and Rohit Bansal book 200X return from Urban Company - Moneyview set to turn unicorn in Series F round - Google Maps cuts prices by 70% for developers after Ola Maps’ free offering - Deepinder Goyal enters billionaire club; his holding in Zomato touches $1 Bn - Nazara’s subsidiaries receive Rs 1,120 Cr GST notice - Creditors may take over Byju’s as NCLT admits insolvency resolution - Crypto exchange WazirX hit by cyber attack, $230 Mn stolen - Trading app Investmint goes for liquidation process 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.