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Top News of the Week 1. Funding: - On a weekly basis, startup funding dropped by 43.15% to $136.93 million as compared to around $240.85 million raised during the previous week. - 23 Indian startups collectively secured approximately $137 million in funding, comprising 5 growth-stage deals and 20 early-stage deals. Additionally, 5 startups chose not to disclose their transaction details. - In the growth-stage funding landscape, digital payments enabler Cashfree raised $53 million in Series C round led by KRAFTON. - Logistics firm Shadowfax secured $16.8 million across two tranches from Mirae Asset, Nokia Growth Partners, Edelwiesse. - Dialysis service provider Apex Kidney Care bagged $9 million from Blue Earth Capital, Women’s wellness and hygiene brand Nua also raised $4 million and Education-focused NBFC Auxilo secured a debt of $5.7 from Motiwal Oswal. - 13 early-stage startups secured funding worth $48.43 million during the week. AI startup TrueFoundry led the early stage funding with 19 million in Series A round followed by another AI company Cognida AI, D2C hair extensions and wig brand HairOriginals, cybersecurity company Astra Security, Battery technology startup Dreamfly Innovations, supplements brand Fitspire & among others. - Lab-grown diamond (LGD) brand COLUXE, AI-powered hiring platform Vahan AI, Sports and wellness community Sisters in Sweat & others also raised a sum but did not disclose the amount raised. 2. Key hirings and departures - Shadowfax appointed three distinguished professionals—Bijou Kurien, Ruchira Shukla, and Pirojshaw Sarkari—as independent directors on its board. - Dating app Aisle named Chandi Gaglani as the Head of Aisle Network. Meanwhile, home decor startup Livspace restructured its top management, promoting COO Ramakant Sharma to Chief Executive Officer (CEO), while the co-founder and outgoing CEO transitioned to the role of Chairman of the Board. - SoftBank-backed Delhivery has appointed Vani Venkatesh, former Global CEO of Airtel, as its Chief Business Officer (CBO). Additionally, the company has welcomed Namita Thapar, Executive Director of Emcure Pharmaceuticals, and Sameer Mehta, Co-founder and CEO of boAt, as non-executive independent directors on its board. - Flipkart’s chief product and technology officer (CPTO) Jeyandran Venugopal has resigned from its position. - The Good Glamm Group’s co-founder Priyanka Gill stepped down from her position as Venture Partner from VC firm Kalaari Capital to launch her own jewellery brand COLUXE . 3. Mergers and Acquisitions - SaaS-based B2B fintech firm Perfios has acquired CustomerXPs, a fraud detection platform Clari5 for an undisclosed amount. - The family office of Adar Poonwala acquired a 20% stake in premium auction house AstaGuru. - Veefin Group acquired UAE-based trade finance marketplace TradeAssets. 4. Fund Launches This week, Info Edge, the parent company of Naukri and 99acres committed $115 million to IE Venture Investment Fund III to invest in tech-driven startups in India. Visit TheKredible to see series-wise deals along with amount breakup, complete details of fund launches, and more insights. New launches and partnerships - Bhavish Aggarwal launches Krutrim AI Labs with Rs 2,000 Cr investment - Lokal launches Dostt, Eaze and Gyan TV; plans 40 more apps - KRAFTON India and KukuFM together launch audiobook of BGMI: Lone Survivor - Careernet expands to US with appointment in its executive search arm - Great Learning introduces two AI products- AI Mentor and AI Teacher - Aye Finance partnered with Credgenics to enhance its digital debt resolution processes - MediBuddy collaborates with Japan's ELECOM to introduce IoT-powered smart health devices - Tata Communications and CoRover.ai collaborate to develop AI solutions for governments and enterprises - Ola Electric launches its first EV bike, the Roadster X Series - Wealthtech startup Univest enters the broking segment - FlixBus partners with ETO Motors to launch e-bus operations between Hyderabad and Vijaywada 5. Financial results this week - Ola Electric losses surge 50% to Rs 564 Cr in Q3 FY25, revenue declines - Astroyogi surpasses Rs 85 Cr revenue in FY24 with sound economics - Pepperfry’s growth woes continue in FY24, losses drop 37.5% - Info Edge posts Rs 722 Cr revenue in Q3 FY25; profit jumps 2.5X - Swiggy crosses Rs 4,000 Cr revenue in Q3 FY25, InstaMart grows 2.1X - Probo posts Rs 459 Cr revenue and Rs 92 Cr profit in FY24 - CaratLane posts Rs 1,117 Cr revenue in Q3 FY25, EBITDA tops Rs 130 Cr - Infibeam profit spikes 50% to Rs 64 Cr in Q3 FY25 - Metalbook nears Rs 800 Cr gross revenue in FY24 6. Potential deals - Kunal Shah’s CRED and Newtap to lead Rs 550 Cr investment in NBFC arm - TAC Security to acquire CyberScope to strengthen its global Web3 expansion - ITC to acquire Meatigo to expand its presence in frozen, chilled, and ready-to-cook foods - Paytm Cloud to acquire 25% stake in Delaware-based Seven Tech - IPO-bound Zetwerk is set to raise approximately $30 million at a valuation of $3.1 billion. 7. News flash this week - PhonePe Group exits Account Aggregator business - Zomato board approves renaming company to ‘Eternal’ - GST authorities drop Rs 5.91 Cr tax demand against Zomato - Shein returns to India via Reliance Retail partnership - HDFC Bank Parivartan Start-Up Grants to provide Rs 20 Cr support to over 50 startups in FY25 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. 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