Venture Capital Firm Accel Invites Startups for AI and Industry 5.0 Cohorts in Atom 3.0 Accelerator Program
Bengaluru, India – Accel, a global venture capital firm, has invited startups for its Atom 3.0 accelerator program. The program is designed to support early-stage startups that are using artificial intelligence (AI) and Industry 5.0 technologies.
IIM Ahmedabad’s CIIE.CO and SIDBI Collaborate to Launch Rs 40 Crore Pre-Seed Fund for Deeptech Startups
Ahmedabad, India – CIIE.CO, the Center for Innovation, Incubation and Entrepreneurship at IIM Ahmedabad, and SIDBI, the Small Industries Development Bank of India, have collaborated to launch a Rs 40 crore pre-seed fund for deeptech startups.
Dell Technologies Introduces Generative AI Solutions for Enhanced Business Outcomes
Round Rock, Texas – Dell Technologies, a leading provider of information technology solutions, has introduced a new suite of generative AI solutions designed to help businesses enhance their business outcomes.
Ajinkya Rahane Joins OATEY as a Brand Ambassador and Investor to Promote Plant-Based Dairy Alternatives
Bengaluru, India – Ajinkya Rahane, the former Indian cricket captain, has joined OATEY as a brand ambassador and investor. Rahane will work with OATEY to promote the company’s plant-based dairy alternatives.
Unstop Raises $5 Million in Funding Round Led by Myanvi and Coursera
Bengaluru, India – Unstop, a community engagement and hiring platform for students and graduates, has raised $5 million in a funding round led by Myanvi and Coursera. The round also saw participation from Venture Catalysts, 9Unicorns, and Pankaj Bansal through his fund Caret Capital.
Astrogate Labs Receives Strategic Investment from SatSure for Laser Communication Solutions
Bengaluru, India – Astrogate Labs, a space technology company developing laser communication solutions, has received a strategic investment from SatSure, a global leader in satellite data analytics. The investment will be used to accelerate the development and commercialization of Astrogate Labs’ laser communication products.
SoftBank’s Arm targets $60 billion-plus value for September IPO
London, UK -SoftBank Group Corp. is targeting a valuation of more than $60 billion for its Arm Ltd. chip unit in an initial public offering (IPO) that could take place as soon as September, according to people familiar with the matter.
SaaS Startup Actyv.ai Lays Off Over 60% of Employees in Resizing Effort
Bengaluru, India – Actyv.ai, a SaaS startup that provides a platform for businesses to manage their customer interactions, has laid off over 60% of its employees. The layoffs come as the company is undergoing a resizing effort.
Digital lending platform LoanTap opens new office in Delhi-NCR
Gurugram, India – LoanTap, a digital lending platform, has opened a new office in Gurugram, Delhi-NCR. The new office will be the company’s headquarters and will house its sales, marketing, and operations teams.
Space data application firm SatSure invests in Astrogate Labs
Bengaluru, India – SatSure, a space data application firm, has invested in Astrogate Labs, a space technology company developing laser communication solutions. The investment will be used to accelerate the development and commercialization of Astrogate Labs’ laser communication products.
Axis Bank Teams Up with Fintech Startup Kiwi to Introduce UPI-Enabled Credit Card Service
Mumbai, India – Axis Bank, a leading Indian bank, has teamed up with Kiwi, a fintech startup, to introduce a UPI-enabled credit card service. The service, called Axis KWIK, will allow users to make payments using their credit cards through UPI.
Justdial Reports Impressive 17 Cr Users and Rs 247 Cr Operating Revenue in Q1 FY24
Mumbai, India – Justdial, a leading local search engine in India, has reported its financial results for the first quarter of fiscal year 2024 (Q1 FY24). The company reported impressive growth in its user base and operating revenue.
Steve Jobs’ Son Reed Jobs Launches $200M Yosemite Fund to Combat Cancer
Palo Alto, California – Reed Jobs, the son of Apple co-founder Steve Jobs, has launched a $200 million fund to combat cancer. The fund, called the Yosemite Fund, will focus on funding early-stage cancer research.
Snapchat Offers Lucrative INR 5.9 Lakhs/Month Reward to India’s AR Lens Creators
Bengaluru, India – Snapchat, a popular social media platform, has announced a new program to reward India’s AR lens creators. The program, called the Lens Creator Rewards Program, will offer creators up to INR 5.9 lakhs (around $77,000) per month for their work.
KKR Acquires Controlling Stake in Logistics Firm LEAP India
Mumbai, India – KKR, a global investment firm, has acquired a controlling stake in LEAP India, a leading pallet pooling platform. The deal was valued at around Rs 3,000 crore (around $400 million).
Logistics Startup Shadowfax Nears $60M Funding Round Led by TPG’s NewQuest
Bengaluru, India – Shadowfax, a logistics startup, is nearing a $60 million funding round led by TPG’s NewQuest. The round is also expected to see participation from existing investors such as Sequoia Capital India and Accel Partners.
Cashfree Payments Rebrands Zecpe as Ecom360, Offering Comprehensive Solutions to D2C Businesses
Bengaluru, India – Cashfree Payments, a leading payment and API banking platform in India, has rebranded its subsidiary Zecpe as Ecom360. The rebranding is part of Cashfree’s strategy to offer a comprehensive suite of solutions to D2C businesses.
MakeMyTrip Achieves Record $18.6M Profit in Q1 FY24 with Highest-Ever Gross Bookings
New Delhi, India – MakeMyTrip, India’s leading online travel company, has reported a record profit of $18.6 million in the first quarter of fiscal year 2024 (Q1 FY24). The company also reported its highest-ever gross bookings of $1.2 billion in Q1 FY24.
Freshworks Reports Strong Q2 Results with 19% YoY Revenue Growth
San Mateo, California – Freshworks, a leading cloud-based customer engagement platform, has reported strong results for the second quarter of fiscal year 2023 (Q2 FY23). The company’s revenue grew 19% year-on-year to $305.3 million in Q2 FY23.
Article By Pankaj Dara