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. Prior to this, the company had raised $5.95 million. The proceeds will be utilized to scale its operations, accelerate product innovation, and expand the leadership team, MaxIQ … Read more
Shraeyansh Thakur, an investor at Peak XV Partners, has resigned after nearly 10 years at the venture capital firm, sources told startupvichar. This marks the fifth high-profile exit from Peak XV in the past year. “Shraeyansh Thakur has decided to quit the firm and is likely to launch his own venture soon,” said one of … Read more
Venture capital fund Prime Venture Partners has closed its fifth fund at $100 million to back early-stage startups across fintech, and artificial intelligence, among others. The fund plans to invest between $2.5 million and $3 million in 16-18 startups. It will also reserve a small portion of its funds for additional investments in bigger companies … Read more
NSE Indices, a subsidiary of the National Stock Exchange (NSE), has introduced a new stock market index called the Nifty India Internet & E-Commerce Index. This index is designed to track the performance of 21 companies from the broader Nifty Total Market, all of which primarily operate through online platforms. It includes businesses involved in … Read more
Electric scooter manufacturer Ola Electric is reportedly cutting over a thousand employees and contract workers to curb mounting losses. As first reported by Bloomberg, this move is part of a larger restructuring effort focused on optimizing operations and steering the company toward profitability. In November, media reports highlighted that the Bengaluru-based company had laid off … Read more
During the week, 21 Indian startups raised a total of approximately $105.87 million, including 3 growth-stage and 16 early-stage deals, while 2 startups kept their funding details undisclosed. In comparison, the previous week saw 22 startups across early and growth stages secure around $184.4 million. Growth-stage deals In the growth-stage funding landscape this week, B2B … Read more
After a strong start in January, venture fund inflows for Indian startups dropped sharply below the $1 billion mark, accompanied by a decline in the number of deals. The decline can be attributed to a decrease in the number of large funding rounds. According to data compiled by TheKredible, Indian startups raised a total of $802 … Read more
Fintech major Paytm has expressed its intent to seek resolution of alleged contraventions of the Foreign Exchange Management Act, 1999 (FEMA) in relation to its investments in two acquired companies — Little Internet Pvt Limited (LIPL) and NearBuy India Pvt Ltd (NIPL). The company has received a show cause notice from the Directorate of Enforcement … Read more
Flipkart has decided to shut down ANS Commerce, its full-stack e-commerce enabler, three years after acquiring the Gurugram-based company, sources familiar with the matter told Entrackr. “Flipkart has decided to shut down ANS Commerce and has also laid off several employees associated with it,” said a source familiar with the matter, requesting anonymity. Confirming the … Read more
Glance, a mobile-first content platform, is raising Rs 200 crore (around $23 million) in debt from Stride Ventures. This marks its first debt financing and the first fund infusion in three years, following its $200 million Series D round from Jio Platforms in February 2022. The company’s board has passed a special resolution to issue … Read more