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Top News of the Day: 1. Sam Altman shuts down Elon Musk’s $97.4 billion bid for OpenAI 2. Aravind Srinivas is an Indian-origin CEO of artificial intelligence firm Perplexity AI who recently challenged billionaire Elon Musk to stop him from raising $500 billion from USAID 3. Nykaa, through FSN E-Commerce, plans to continue investing in its beauty and personal care sector to boost customer acquisition, according to CEO Anchit Nayar. 4. Salesforce announced a $500 million investment in AI-related projects in Saudi Arabia, marking significant expansion in the region. 5. Mumbai-based ValueQuest led a $78 million investment in ToneTag, a payments solutions provider from Bengaluru, operated by Naffa Innovations Pvt. Ltd. 6. Indian space tech firm Digantara plans to expand into the US, targeting $25-$30 million in revenue over the next two years by capitalizing on the $60 billion space surveillance market. 7. Google CEO Sundar Pichai highlighted AI's transformative potential as a major technological shift, emphasizing its role in enhancing human ingenuity at a Paris summit. 8. Zeta, a banking technology company backed by SoftBank and Mastercard, has achieved a $2 billion valuation following a $50 million investment from US-based healthcare firm Optum. 9. Oyo plans to invest $10 million in enhancing the digital assets of US-based G6 Hospitality, following its $525 million acquisition of Motel 6 and Studio 6 brands. 10. Vivo beats Samsung and Apple as India’s leading smartphone brand in 2024, IDC report reveals 11. Shares of Swiggy and Zomato have fallen due to challenges in the quick commerce sector. Swiggy's market capitalization dropped below $10 billion, while Zomato's valuation slipped under $23 billion. 12. Supertails, a Bengaluru-based pet care startup, has opened its first physical clinic, entering offline services alongside its digital offerings. 13. Quick commerce platform KiranaPro has acquired Joper.app, a hyperlocal grocery delivery service that connects small Kirana stores with customers, for an undisclosed amount. 14. Contactless payment solution provider ToneTag has raised $78 million in its Series B2 funding round. 15. Men’s sexual health and wellness brand Bold Care has raised $5 million in a funding round co-led by Nithin Kamath’s Rainmatter, CaratLane co-founder Mithun and Siddhartha Sacheti, the Dhanani family, AVT Group, along with participation from Gruhas Collective Consumer Fund and NB Ventures. 16. IXP unveils Rs 200 Cr early-stage fund for lifesciences startups 17. Ride-hailing firm Rapido has announced its first-ever Employee Stock Ownership Plan (ESOP) liquidation program for its current and former employees. 18. Peak XV’s managing partners Shailesh Lakhani, a 17-year veteran of the firm, and Abheek Anand, who co-led investments in Southeast Asia, have decided to step down 19. Yatra’s revenue from operations increased to Rs 235 crore in Q3 FY25 from Rs 110 crore in Q3 FY24, its consolidated unaudited financials sourced from National Stock Exchange (NSE) shows. 20. Groww widens lead over Zerodha in active users; Dhan, INDmoney surge 21. Bhavish Aggarwal, founder of Ola and AI startup Krutrim, highlighted the potential of adopting DeepSeek's open-source AI model in India, with caution towards the Chinese app itself. 22. Favcy VB’s 10th anniversary drives Rs 40 Cr in startup investments 23. Magicpin triples revenue to Rs 870 Cr in FY24, cuts losses 24. Clean-label health food brand The Whole Truth is raising Rs 133.3 crore (approximately $15.8 million) in a series C round led by Sofina Ventures, with the participation of Peak XV and Matrix Partners. 25. Croft Beverages, a farmer-centric sustainable tea startup, has raised $125K in a pre-seed funding round through a combination of equity and debt. 26. Digantara, a Bengaluru-based space surveillance company, plans to invest $10-15 million in a spacecraft manufacturing facility in Colorado within the next six to eight months. 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.