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Top News of the Day: 1. India's private sector capital expenditure (capex) fell to a three-year low of 11.2% in FY24, potentially dropping below 11% of GDP in FY25 2. Blinkit, a quick commerce platform owned by Zomato, has shifted from fixed to variable commission rates for sellers in specific categories to improve its take rates amid intense competition and expansion pressures 3. The quick commerce sector is poised to benefit significantly from the income tax cuts announced in the Union Budget 2025 4. Revenue AI platform Gyaan AI has rebranded as MaxIQ and has raised $7.8 million in seed funding led by Dell Technologies Capital along with participation from Intel Capital. 5. Stock broking platform Punch is raising Rs 26 crore (approximately $3 million) in its extended seed round from new and existing investors. 6. SaaS startup Gainhub Technologies has raised $100K in its pre-series bridge round led by Growth Strategy Ventures 7. MSME lender Indifi Technologies continued its strong financial performance, posting over 60% year-on-year growth for the fiscal year ending March 2024 8. Alibaba's shares rose over 8% after announcing a new reasoning model, QwQ-32B, which rivals DeepSeek's R1 in performance 9. Swish, a 10-minute food delivery startup, has secured Rs 122.32 crore in its Series A funding round, led by Hara Global Capital and existing investor Accel India 10. Rohan Misra, son of ex-SoftBank Vision Fund CEO Rajeev Misra, has secured approximately $150 million for his investment company, Gravity Holdings. 11. Squared Capital, a Miami-based private equity firm, is engaging a global investor as a limited partner for its second growth markets fund, targeting $3 billion, which includes an India mandate. 12. Telehealth platform Truemeds is raising Rs 375.2 crore or (approximately $44 million) in its Series C round led by Accel India and with the participation of WestBridge and Info Edge. 13. Google has introduced Gemini 2.0 to enhance AI-powered search capabilities, offering improved complex query responses in coding and math, and making AI Overviews more accessible 14. SquadStack has introduced an AI-driven customer support solution with a 'humanoid AI agent' to enhance business support operations. 15. Gensol Engineering Ltd (GEL), parent of BluSmart, plans to cut Rs 665 crore in debt through asset sales to address recent credit rating downgrades 16. Phot.AI, an AI-driven creative automation platform, has secured $2.7 million in a seed funding round led by Info Edge Ventures, with participation from Together Fund and AC Ventures 17. Lenovo's India revenue surpassed $2 billion in FY25, buoyed by growth in Motorola handsets, PCs, and data center servers. 18. PhonePe is set to appoint Amit Doshi, former CMO of Britannia Industries, as its first group CMO in preparation for its IPO. 19. Ola’s AI venture, Krutrim, is collaborating with Lenovo to develop Krutrim 3, a 700-billion-parameter large language model and build India’s largest supercomputer. 20. MapMyCrop, an agri-tech startup, has secured Rs 15.7 crore ($1.8 million) in seed funding led by YourNest Venture Capital, with contributions from angel investors. 21. Russia-backed Nayara Energy, majority-owned by Russian entities including Rosneft, has announced a $217.5-million share buyback to assist minority stakeholders in exiting the delisted company. 22. PayPal and HDFC Bank backed startup Mintoak which provides merchant payment services to lenders reportedly bought Digiledge for $3.5 million on Tuesday 23. Amazon has decided to shut down its refurbished platform, Renewed, citing increasing challenges. 24. Razorpay has expanded into Singapore, its second market in Southeast Asia after Malaysia 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.