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Top News of the Week: 1. Funding: - On a weekly basis, startup funding surged 200% to $341.04 million as compared to around $113.39 million raised during the previous week - During the week, equivalent to 32 Indian startups raised around $341 million in funding. These deals count 6 growth-stage deals and 22 early-stage deals while 4 early-stage startups kept their transaction details undisclosed. - In Growth-stage deals, 6 startups raised $216.8 million in funding this week. Mobility startup Rapido spearheaded with its $120 million worth of unicorn round. Fintech firm Navi, NBFC Clix Capital, Trade financing startup Vayana Network, fintech firm BharatPe, and sportstech company KheloMore followed with $38 million, $26.3 million, $20.5 million, $10 million, and $2 million in funding, respectively. - Further, 22 early-stage startups secured funding worth $124.24 million during the week. Renewable energy services company BluPine led the list followed by EV startups Simple Energy and Kinetic Green while wedding services company Meragi, and a platform for sourcing and manufacturing of specialty chemicals Scimplifyare are next on the list. - As many as 4 startups did not disclose the funding amount raised are; BoldFit, Game Theory, Cogniquest, and Vitra.ai. 2. Top hirings and Exits: - Hero Vired, the Hero Group’s online education platform, has appointed Prakhar Kasar as its new CEO. - CoinDCX has elevated Mridul Gupta to the role of founding partner. - E-commerce firm Meesho has strengthened its board with the addition of four independent directors: Hari S Bhartia, founder of Jubilant Bhartia Group; Kalpana Morparia, former JP Morgan Chairman; Rohit Bhagat, non-executive Chairman of PhonePe; and Surojit Chatterjee, a former Flipkart executive. - Prashant Sinha, co-founder and chief revenue officer of Metadome.ai, announced his exit from the company. 3. Mergers and Acquisitions: - Infibeam Avenues, a financial services company, acquired a majority stake in Rediff.com. - SaveDesk, another financial services company, acquired a majority stake in the Bengaluru-based fintech startup Fairexpay. - Nazara Technologies, a gaming company, acquired the intellectual property rights of the popular mobile game “Ultimate Teen Patti”. 4. Shutdowns - Apollo Tyres faced a short-lived run with its doorstep car service initiative, Trumigo. Launched just six months ago, the service was discontinued due to a lack of customer traction and competition from established businesses in the market. - CarTrade, after acquiring OLX India’s business last year, decided to streamline its operations. The company will be shutting down its used car retail segment (C2B) to focus on the core classifieds business (Olx.in). 5. Other Developments: - Raise Financial Services, the parent company of stock trading platform Dhan, is in talks to raise around $100 million in a new funding round. This investment is expected to propel the company’s valuation to between $1.2 billion and $1.5 billion, securing its unicorn status. - M2P Fintech, is on the verge of closing a $80 million funding round, which will value the company at $900 million. - Delhivery to launch dark stores for e-commerce players - Zomato to launch District app for dining out, events, ticketing biz - Delhivery turns profitable with Rs 52 Cr PAT in Q1 FY25 - Infibeam Avenue reports 43% growth in PAT in Q1 FY25 - Zomato crosses $25 Bn market cap with Rs 253 Cr profits in Q1 FY25 - Freshworks cuts losses by 14% in Q2; eyes $713 Mn revenue in CY24 - CarTrade revenue and profit slip in Q1 FY25; shuts down used car retail biz - Ola Electric reports Rs 5,010 Cr revenue in FY24 - FirstCry FY24 revenue crosses Rs 6,500 Cr; GlobalBees contributes 18.6% - Unicommerce and FirstCry files RHP as it gears up for IPO launch on Aug 6 - PhysicsWallah launches Rs 250 Cr Scholarship Fund for JEE/NEET aspirants - InsuranceDekho secures composite broking license - Byju’s, BCCI settle payment dispute - MapMyIndia accuses Ola Electric of copying data; Aggarwal calls them ‘Opportunist’ - MCA imposed penalty on Zerodha AMC and Nithin Kamath for delay In appointing CFO - Avanse Financial Services refiles DRHP to SEBI for Rs 3,500 Cr IPO - Infra.Market and Fractal are next in line to file DRHP soon 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.