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Daily Recap: 1) Edtech startup Kraftshala raised an undisclosed pre-Series A round from investors such as Phanindra Sama and Sujayath Ali. The company will utilize the funds to build new products while the core business continues to be profitable. 2) Qila Games, based in Bengaluru, secured $1 million from Chimera VC and Ventatana Ventures. The funds will support the expansion of hybrid-casual gaming in India, as well as the development of new intellectual properties and enhanced tech capabilities. 3) PhysicsWallah, the edtech unicorn worth $2.8 billion, has filed the draft papers of its IPO with SEBI silently, providing a degree of flexibility of up to 18 months for listing after the approval by SEBI. The firm may or may not go ahead with the IPO. 4) Ribbit Capital, which is a VC that focuses on fintech, is raising $500M for its latest fund. Ribbit has already made investments in BharatPe, CRED, and Razorpay, but India's fintech investments hit an 8-year low in 2024 amid a global slump. 5) Hero MotoCorp invested ₹525 Cr in Euler Motors, taking a 32.5% stake to speed up its foray into electric vehicles (EVs), i.e., electric three- and four-wheelers, which are likely to account for 35% of sales. Euler also raised $20M in debt to increase production and R&D. 6) The government hired SIDBI to handle a ₹1,000 Cr VC fund to finance space tech startups as part of India's effort to develop its space economy to $44B by 2033. 7) It was emphasized by Commerce Minister Piyush Goyal that the IT MSMEs played a key role in achieving India's target of services exports of $450B and IT and ITES accounted for $200B in the previous year. It is projected to grow to $385B exports. 8) SEBI is proposing a change in the rule whereby startup founders could hold onto ESOPs after an IPO, aligning the incentives and protecting fair compensation against share dilution. 9) Gensol Engineering had the resignation of Rajesh Jain (non-executive director) and CFO Ankit Jain. To counter the liquidity issue, the company had appointed Jabirmahendi Aga as its new CFO. 10) Unicommerce has bought Shipway in a share exchange agreement on a 1:8.9 basis. The deal consolidates its e-commerce logistics capabilities and increases its market presence. 11) Zoho's Ulaa browser emerged victorious in the Indian Web Browser Development Challenge, topping the list with CCA Root integration for security, AI-driven phishing detection, and digital signing. 12) TBO Tek shares are being offloaded by the shareholders for 3.1% at ₹400 Cr through a block deal. TBO Tek revenue rose 29.2% YoY, led by hotel and packaging segments. 13) Plum's CEO prioritized growth over profits in the near term, focusing on full-year profitability after halving losses and increasing revenue by 150%. 14) Ola Electric dispelled doubts regarding differences in sales data and certifications, stating it was due to a registration backlog and no legal or regulatory action is being pursued.