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Top News of the Week: 1. Funding: - On a weekly basis, startup funding slipped 56.6% to $113.39 million as compared to around $261.21 million raised during the previous week. This is the lowest weekly funding in the last 15 weeks. - During the week, as many as 22 Indian startups raised around $113.39 million in funding. These deals count 5 growth-stage deals and 8 early-stage deals while 9 early-stage startups kept their transaction details undisclosed. - Among the growth-stage deals, 5 startups raised $49.3 million in funding this week. Renewable energy firm Rays Power spearheaded with its $15.1 million funding. Education loan provider Auxilo, NBFC NeoGrowth, EV company Ather Energy, and wealth and asset management firm Neo followed with $12 million, $11.2 million, $7 million, and $4 million in funding, respectively. - Further, 8 early-stage startups secured funding worth $64.09 million during the week. Manufacturer of high precision tooling for aero-engines and airframes Unimech Aerospace led the list followed by wealthtech startup Stable Money, co-working solution provider Incuspaze, quick service restaurant chain Charcoal Eats, and D2C luggage brand Nasher Miles. - Provider of smart building solutions Nhance, two-wheeler service provider VOC Automotive, and HR technology platform Umwelt also raised funding. - As many as 9 startups did not disclose the funding amount raised are; Pneucons, Godaam Innovations, VedaFit Foods, Aqin Biotech, Mkelly Biotech, Devnagri, WTF, Empyreal Galaxy, and Mayhem Studios. 2. ESOP Buyback: - Adda247 is buying back shares from over 130 employees at a price 40 times their initial purchase price. This move comes ahead of the company’s planned IPO in 2027. 3. Top Hiring & Exits: - Ecom Express has strengthened its leadership by appointing Jitendar Kumar as Chief Business Officer and Abhinav Imandi as Senior Vice President. - Swiggy Instamart has expanded its team with key hires including Himavant Srikrishna Kurnala as SVP of Product, Mayank Rajvaidya as VP of Fruits & Vegetables, Manu Sasidharan as AVP of FMCG Category, and Kumar Rahul as AVP of Business Development. - Drive FITT, Gupshup, and VC firm 360 ONE Asset Management also witnessed changes in their leadership teams. - Asia managing partner of Eight Roads Ventures, Raj Dugar has reportedly stepped down after 17 years. 4. Mergers and Acquisitions: - Business advisory firm Riveron has expanded its operations by acquiring Yantra. - Thyrocare has strengthened its presence in Northern India through the acquisition of Polo Labs. - Acko and Captain Fresh have respectively acquired OneCare and Koral to bolster their market positions and service offerings. 5. Other Developments: - Electric mobility startup Kazam is set to raise a $5 million funding round - Wingreens Farms seeking $4.3 million in debt financing. In the tech space - Glance is in advanced talks to raise $250 million - Leap Finance is eyeing a $70-100 million round to achieve unicorn status. - Nykaa is securing Rs 125 crore through non-convertible debentures, as per media reports. - Emami is set to acquire 100% stake in The Man Company, marking its entry into the D2C space. - Google partners with ElectricPe to bring EV charging stations to Google Maps in India - CRED launches financial management platform CRED Money - QIA seeks court injunction to halt sale or transfer of Byju Raveendran’s assets - UPI in June: PhonePe, Google Pay see marginal decline, Paytm records flat growth - Paytm fined for ESOP stamp duty lapses, gets NOD to invest in payments arm - Ola Electric to launch IPO on August 2 - The RBI fined Ola Financial Services for flouting KYC & PPI norms - Delivery startup Dunzo faces new insolvency threat - Manipal Group gets green light to increase stake in Aakash - Cashfree Payments first to secure RBI’s cross-border payment license - Google Maps to offer metro ticket booking in Kochi and Chennai - Insurtech startup Covrzy gets broking license from IRDAI 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.