Gurgaon-based ride-hailing startup Rapido has raised a staggering $200 million in its Series E funding round, led by WestBridge Capital. The new capital will be used to expand its four-wheeler ride-hailing services and go toe-to-toe against industry giants like Ola and Uber in India. With the new funding, Rapido’s valuation has jumped to $1.1 billion….
Paysharp, Chennai-based fintech startup, has received the final nod from the RBI to function as a Payment Aggregator. The major development comes after the in-principle approval given by the RBI in December 2022 and puts the company in the league of top payment aggregators in the country. Krishna Kumar Mani, founder and CEO of Paysharp,…
Quick commerce unicorn Zepto, which raised over $1 billion in the previous months, has begun its work for an initial public offering. The startup reportedly began discussions with investment banks regarding its plans, which are aiming to go live in the second half of 2025. Quite ambitious, this fits into the dreams of many new-age…
Wibmo, a leading payments security and digital financial services company, with City Union Bank and nStore, has launched the Buyer Side ONDC Module. The module is supposed to transform the digital buying journey of the customers of City Union Bank by seamlessly connecting them on the Open Network for Digital Commerce. ONDC is an initiative…
Under its employee stock option plan (ESOP), the fintech behemoth PaytmPaytm Datalabs in-article-icon has granted 2.54 lakh equity shares to qualified workers. Paytm stated in an exchange statement on Wednesday, September 4, that the nominating and compensation committee of the board had approved the distribution of 2.54 lakh fully paid-up equity shares, each with a…
Rainmatter, an early-stage venture capital business supported by Zerodha, has made a Rs 10 crore investment in each of two companies in an equity funding round. The chosen startups are Boson Whitewater, a water recycling startup, and TruNativ, a nutrition-focused brand. Boson Whitewater, founded in 2011 by Vikas Brahmavar and Gowthaman Desingh, aims to become…
Fashion startup Theater raises $1.5 Mn (INR 12.45 Cr) in a Pre-Series A funding round. Founded in 2021 by Sarthak Aggarwal, Vikram Jain, Karan Jain, and Shruti Aggarwal, Theater specializes in deep fashion and offers women’s footwear, stockings, perfumes and bags. The fresh infusion of capital will further help Theater in building strong presence in…
ONDC an initiative of the Department for Promotion of Industry and Internal Trade (DPIIT) won at National Awards for e-Governance (NAeG) in the category of ‘Application of Emerging Technologies for Providing Citizen-Centric Services’ “We are honored to receive the Gold Medal at the National e-Governance Awards for our innovative use of emerging technologies in providing…
The valuation of PharmEasy’s parent, API Holdings, has taken a serious beating. From being valued at $5.6 billion, it came down to $458 million, which is a drop of 92%. It was due to a number of factors, including some really unfavorable market conditions and investor concern. Janus Henderson, one of PharmEasy’s investors, cut the…
Hindustan Composite is a leading auto ancillary company which strategically invested in the IPO-bound online food delivery giant Swiggy. The strategic partnership has come when Bollywood superstar Amitabh Bachchan’s family office also picked up a minority stake in the Bengaluru-based company. As part of the deal valued at Rs 5.17 crore, Hindustan Composite has entered…
