Back

Top News of the day: 1. Non-Banking Financial Company (NBFC) Saarathi Finance has closed its inaugural funding round of Rs 475 crore, co-led by TVS Capital Funds, Lok Capital, Evolvence Equity Partners, Paragon Partners, and other angels collectively contributing about Rs 350 crore. 2. Wealth management firm ILIOS 72 Alternative Capital has raised Rs 1 crore in a seed funding round from a group of family offices. This marks the company’s first external raise. 3. B2B medical supply platform Medikabazaar reported a 50% jump in gross revenue to Rs 1,355 crore in FY24, rebounding from a 41% drop in FY23. 4. Non-bank lender Saarathi Finance & Credit Pvt Ltd raised Rs 475 crore ($55.6 million) in a Series A round led by TVS Capital, alongside Lok Capital, Evolvence Equity Partners, Paragon Partners, and angel investors contributing Rs 350 crore. 5. Hero FinCorp, supported by Apollo Global Management, ChrysCapital, and Apis Partners, has received SEBI's approval for a $428-million IPO. 6. Quick-commerce platform Instamart has dropped its parent 'Swiggy' from its name to surpass food delivery in terms of both penetration and scale. 7. India’s AI startups are avoiding local clients due to repeated demands for unpaid Proof of Concepts (PoCs). 8. Open-source project management startup Plane has acquired Sort, a US-based engineering team specializing in AI-native enterprise workflows, marking its official expansion into the North American market 9. Surat-based agritech firm GROWiT has raised $3 million in its Series A round led by GVFL. 10. Nobel Hygiene Pvt Ltd, the company behind Friends and Snuggy diaper brands, experienced a valuation markdown in a new funding round, adding Neo Asset Management as an investor. 11. Unacademy cofounders Gaurav Munjal and Roman Saini are stepping down from active roles amid strategic shifts at the edtech company 12. Cars24, a used-car marketplace based in Delhi NCR, plans to lay off 120 employees as part of a restructuring effort, following a previous layoff of 200 employees in April. 13. PayPal Payments Private Limited, an Indian subsidiary of PayPal Holdings Inc., has received in-principle approval from the Reserve Bank of India to operate as a Payment Aggregator for Cross Border Exports. 14. Elon Musk's social media platform, X, faced another widespread disruption affecting users in the U.S., India, and other countries. 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.