BUSINESS
Zeta says processing around 2 mn transactions a day amid growing demand for credit on UPI products
For FY23, Zeta reported a net profit of Rs 22 crore on revenue of Rs 816 crore,
BUSINESS
Festive cheer: ONDC hikes monthly incentive payout by 50% to each network player in October
ONDC also recorded a 3.2 percent month-on-month growth in transactions in September to 12.90 million
BUSINESS
PB Fintech healthcare foray via separate entity, company will act as minority investor: Group CEO Yashish Dahiya
Dahiya said the new entity plans to acquire 6-8 hospitals in the NCR region. While it’s still too early to discuss specifics, he sought to clarify to prevent any misinformation that could lead to financial losses for investors
BUSINESS
Kissflow founder Suresh Sambandam launches 'Mudhal VC,' a new accelerator venture capital fund
Mudhal in Tamil translates to first capital and the VC firm will focus on Tier II and Tier III cities in Tamil Nadu
BUSINESS
Software and SaaS prices will come down, we are prepared for that world: Zoho CEO Sridhar Vembu
Zoho which is presently betting big on AI has already deployed several smaller models in enterprises. The firm's CEO also said that India needs to invest in our own foundational models in a cost-efficient manner.
BUSINESS
SaaS firm Whatfix raises $125 million in Series E funding from Warburg Pincus, SoftBank
The firm aims to expand its market presence in the US, EMEA, and APAC regions with the new funding.
BUSINESS
Atomicwork secures an additional $3 million in seed funding from global tech leaders
Founded in 2022 Atomicwork is an employee success solution that brings employees, IT systems, and HR operations together to drive business impact across any organisation.
BUSINESS
M2P raises Rs 850 crore in Series D funding round led by Helios Investment Partners
The firm is also eyeing to enter the public markets in the next 2-3 years, cofounder Madhusudanan R said.
BUSINESS
Visa processing platform Atlys raises $20 million led by Peak XV and Elevation Capital
The firm has also hired leadership talent with the funding and will focus on newer revenue streams like forex and insurance.
BUSINESS
Digital banking startup Freo plans reverse flip to India from Singapore
While companies like PhonePe, Groww and Pepperfry have completed their relocation, others such as Pine Labs are in the process of moving to India
BUSINESS
Reserve Bank Innovation Hub develops AI/ML model to tackle mule account fraud
RBIH has recently deployed its in-house model, MuleHunter AI, in a large public sector bank. This is more accurate than traditional systems and easy to deploy.
BUSINESS
Rapido to switch to all-electric bike-taxi fleet in Delhi by next year
Rapido is also entering the quick commerce delivery segment for hyperlocal deliveries and has recently gone live with Pincode and KPN Farm Fresh
BUSINESS
Ola Electric to grow revenue 2.5x faster, volumes 5x faster over next 3 years: Goldman Sachs
The international brokerage firm has initiated coverage on Ola Electric and has given a buy rating.
BUSINESS
Electric vehicle makers cheer PM's e-drive scheme
On September 11, the Union Cabinet approved PM E-Drive scheme with an outlay of Rs 10,900 crore.
BUSINESS
Karnataka: Disgruntled Ola Electric customer allegedly sets showroom on fire, no casualties
Kalaburagi Chowk police registered a case, and the accused has been taken into custody for interrogation. be scooter
BUSINESS
IPO-bound Ather Energy's cost of imports from China went up to 28% in FY24
In 2023, the total cost of materials consumed through Chinese imports was around 10 percent or Rs 157.9 crore
BUSINESS
Ather Energy to enter electric motorcycle race, set up new factory line in Maharashtra
The firm plans to manufacture new scooters and motorcycle platforms at its 'Factory 3.0' in Maharashtra, Ather has said in its IPO documents
BUSINESS
Ather IPO: Founders, Tiger Global, Binny Bansal's 3 State Ventures to sell stake; Hero Motocorp to stay invested
Under the OFS, the firm’s founders Tarun Sanjay Mehta and Swapnil Babanlal Jain are said to offload around 1 million equity shares in the company.
BUSINESS
DLAI to launch fraud repository platform for fintechs amid growing cybersecurity concerns
DLAI was among the three organizations that applied for SRO-FT and is awaiting RBI’s nod on the same.
BUSINESS
Freshworks appoints former ServiceNow exec Murali Swaminathan as CTO
Swaminathan has joined Freshworks from ServiceNow, where he served as Vice President of Engineering, overseeing the company’s IT Service Management and Strategic Portfolio Management portfolio
BUSINESS
Women-focused finance app SALT pauses operations amid user acquisition challenges
MySalt was launched in 2020 by Chaitra Chidanand, Shinjini Kumar and Aditi Sholapurkar. The firm is looking for strategic investments to restart the business.
BUSINESS
HR tech SaaS unicorn Darwinbox elevates CTO Vineet Singh as co-founder
Singh spent the early years of his career as an engineer building products in both consumer and SaaS tech prior to joining Darwinbox.
BUSINESS
PhonePe diversification strategy pays off, high revenue growth likely to sustain
Consistent and sustainable profits at the payments division will probably help the company list publicly within a couple of financial years
BUSINESS
Ola-Uber challenger Namma Yatri eyes US foray, in talks to partner with American unions
The firm recently raised $11 million (Rs 92 crore) in a pre-Series A funding round.
