Back to feeds

Top News of the Week: 1. Funding: - During the week, 21 Indian startups raised around $144.46 million in funding. These deals count 5 growth-stage deals and 13 early-stage deals while 3 early-stage startups kept their transaction details undisclosed. - On a weekly basis, startup funding slipped 66.57% to $144.46 million as compared to around $432 million raised during the previous week. - Among the growth-stage deals, 5 startups raised $91 million in funding this week. - D2C water purifiers and air conditioners manufacturer Livpure spearheaded its $28 million worth Series C round. D2C ice cream brand Hangyo raised $25 million followed by online lending platform Axio, MSMEs-focused fintech lender FlexiLoans, and D2C luggage brand Uppercase with $20 million, $9 million, and $9 million in funding, respectively. - 13 early-stage startups secured funding worth $53.46 million during the week. Healthtech care startup Even led the list followed by equity investment platform InvestorAI, D2C spice brand Zoff, cricket league featuring senior cricketers Legends League Cricket (LLC), and fintech startup TransBnk among others. - As many as 3 startups that did not disclose the funding amount raised are; PadelPark, NxtQube, and TailBlaze. 2. Top Hires & Exits: - Brij Bhushan, co-founder and former COO of Magicpin, has joined Prime Venture Partners as a full-time venture partner. - Sachin Bansal’s Navi Finserv onboarded former RBI executive Anil Kumar Misra as their non-executive chairman at the board. - Perfios has appointed Rajesh Kini, formerly with Infosys, as their new CFO - Veefin Group has named Shantanu Bairagi as CEO of Veefin Capital, focusing on MSME supply chain finance. - Zapcom Group Inc. has appointed Prasanth Nair as CTO to lead their engineering initiatives, leveraging his expertise in global team management. 3. Mergers & Acquisitions: - Zomato, the leading food delivery platform in India, has announced the acquisition of Paytm’s movies and ticketing business. This strategic move will allow Zomato to expand its offerings beyond food delivery and cater to a wider customer base. The acquisition is valued at Rs 2,048 crore ($244 million) and includes two of Paytm’s subsidiaries, TicketNew and Insider, along with their 280 employees. - Zappfresh, an online retailer of fresh fish and meat, has acquired Bonsaro, a Mumbai-based company specializing in the online delivery of poultry, goat, and seafood. This acquisition marks Zappfresh’s second strategic move, following the acquisition of Sukos Foods-owned Dr. Meat in July 2023. With Bonsaro, Zappfresh aims to expand its operations in the western region and enhance its brand presence. 4. Shutdown: - Kenko Health, a Mumbai-based healthcare startup, has shut down operations due to a financial and operational crisis. Despite raising over $13.7 million and achieving significant revenue growth, the company faced mounting losses and failed to secure an insurance license. The startup’s offices have been closed, leaving employees without pay for months. Founders Aniruddha Sen and Dhiraj Goel admitted the firm ran out of funds and was taken to the National Company Law Tribunal (NCLT) by investors. Attempts to secure further funding or investor support failed, leading to the company’s collapse. 5. Other Developments: - MobiKwik posts Rs 875 Cr revenue and Rs 14 Cr profit in FY24 - Ola Electric market share drops more than 30% in last two months - Baron Capital values Swiggy at $14.7 Bn - How Fampay’s Rs 200 Cr bet on fintech for teenagers fell flat - Paytm proposes to cut directors’ remuneration - Swiggy eyes $15 Bn valuation for its $1-1.2 Bn IPO - RBI imposes Rs 4 Cr fines on LenDen Club and LiquiLoans - NCLT approves slice and North East Small Finance Bank’s merger - IPV announces full exit from Fashor with 33% IRR - Mitron TV, TrainMan co-founders set to launch AI startup Callmatic 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.