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Top News of the Week: 1. Funding: - During the week, 26 Indian startups raised around $421.29 million in funding. These deals count 4 growth-stage deals and 16 early-stage deals while 6 startups kept their transaction details undisclosed. - On a weekly basis, startup funding slipped 14% to $421.29 million as compared to around $490.32 million raised during the previous week. - Among the growth-stage deals, 4 startups raised $385.61 million in funding this week. Ride-hailing app Rapido spearheaded with a $200 million worth unicorn round. Cross-border trade fintech firm Drip Capital raised $113 million followed by D2C jewellery retailer Bluestone and food delivery and grocery platform Swiggy with $72 million and $0.61 million in funding, respectively. - Two growth-stage startups that did not disclose the transaction details are Xolopak and Plan B. - 16 early-stage startups secured funding worth $35.68 million during the week. Proptech startup Justo Realfintech led the list followed by D2C retail brand Nutrabay, a platform for booking hostel accommodations The Hosteller, chemical recycling and sustainability startup RecommerceX, and fabless semiconductor design startup BigEndian among others. - 4 startups that did not disclose the funding amount raised are; Nautical Wings Aerospace, ReCircle, 0xPPL, and Carrum. 2. Top Hirings & Exits: - Mohit Rajani, formerly with Meta, has joined Meesho as a CPO. - Freshworks onboarded former ServiceNow executive Murali Swaminathan as CTO - CoinDCX appointed Prashant Verma as chief growth and marketing officer, Wellbeing Nutrition onboarded Harleen Bhatti as the head of growth, and Nykaa (Kay Beauty) hired Sukhleen Aneja as SVP and Business Head. - Adda247’s Co-founder Chandan Singh and CaratLane’s MD and CEO Avnish Anand resigned from their respective companies. 3. M&A: - Hearing care provider Hearzap has acquired Speech and Hearing Care to expand its market share in Bihar and Jharkhand, while Yatra has acquired Globe Travels to strengthen its position in the corporate travel sector and increase its customer base. 4. Layoffs: - Airmeet, a virtual event startup, laid off around 80% (30 employees) of its tech team and some employees from its product and design teams. - Dozee, a healthtech startup, also laid off around 40-50 employees from its on-field, customer success, sales, and marketing teams. 5. Other Developments: - Fampay launches UPI app Namaspay for foreign travelers in India - Ola Electric to bring three-wheeler to market soon - Zepto to launch Buy Now Pay Later service: Zepto Postpaid - Mygate launches smart door locks; enters consumer electronics - EaseMyTrip ventures into electric bus manufacturing - Swiggy follows Zomato, pilots large order fleet in Delhi-NCR - Infibeam Avenues launches CCAvenue SoundBox Max - SarvaGram to raise $50 Mn from Peak XV, others - B2B digital lending startup Mintifi in talks to raise $100 Mn - Moneyview raising $30 Mn debt via private placement - Starbucks India posts Rs 1,218 Cr revenue in FY24; losses surge 3.2X - BigBasket’s revenue crosses Rs 10,000 Cr in FY24 - Porter scales up 56% to Rs 2,734 Cr in FY24; losses dip 45% - Swiggy reports Rs 11,247 Cr revenue in FY24; cuts losses by 44% - Mayhem at Arthmate after Vihaan Kumar’s arrest: COO resigns, employees exodus, and more - GST Council may impose 18% GST on PAs for Small Transactions - Byju’s auditor resigns over lack of transparency; founder cries foul - Nykaa accuses former CEO Asthana of breach of confidentiality, misappropriation - B2B unicorn OfBusiness eyes IPO in the second half of 2025 - Coworking Space Provider IndiQube Plans IPO: Report - Zepto eyes $450 Mn IPO by August 2025, initiates talks with bankers - Ather Energy targets Rs 4,500 Cr IPO, to file DRHP next week: Report - InMobi’s Roposo shifts to the social commerce model - PharmEasy valuation slashed to $458 Mn by Janus Henderson - Logistics firm Delhivery receives GST demand notice - GST troubles continue for Zomato; receives another demand notice - PayGlocal gets RBI payment aggregator license 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.