BUSINESS
Fidelity-backed VC firm Eight Roads Ventures consolidates Asia investments, lets go of a dozen executives
It is also likely Fidelity, the sole limited partner of Eight Roads Ventures, will become the anchor of fund and ask other LPs to co-invest in the startup, moving away from the original strategy
BUSINESS
SEBI clears Lenskart IPO; eyewear startup to raise Rs 2,150 crore via fresh issue
Among the promoters, Peyush Bansal will offload 2 crore shares, while Neha Bansal, Amit Chaudhary, and Sumeet Kapahi will each sell a smaller stake.
BUSINESS
TCS offers up to 2 years’ severance pay amid workforce restructuring
Employees who have been unallocated or “on the bench” for over eight months without finding a suitable role are offered a simpler package, consisting of notice period pay equivalent to three months.
BUSINESS
Zepto nears $450 million funding at $7 billion valuation led by US pension fund Calpers
A bulk of the $450 million, around $350-$380 million will be in primary capital that will go directly into Zepto's coffers. The remaining, $70-100 million, will be in the form of secondary share deals where early investors will sell shares, sources told Moneycontrol.
INDIA
Crumbling Outer Ring Road pushes more startups, firms towards North Bengaluru, Whitefield
Sources told Moneycontrol that logistics platform BlackBuck, which announced its exit from Bellandur on Outer Ring Road due to poor infrastructure, plans to split its operations between Whitefield and Koramangala.
BUSINESS
Infra.Market files for Rs 5,000 crore IPO via confidential route
The Accel- and Tiger Global-backed construction materials firm is looking to tap buoyant capital markets after a recent Rs 730 crore pre-IPO fundraise and strong FY25 financials.
BUSINESS
California Burrito raises Rs 120 crore from Elevation Capital
The eatery, also backed by Kumar Vembu, the brother of Zoho founder Sridhar Vembu, had engaged with Elevation Capital around 18 months back for a fundraise but negotiations had paused back then. The two parties have now agreed on favourable terms, as per sources.
BUSINESS
Lightspeed, Prosus back Mukund Jha's AI startup Emergent with $23 million in Series A round
Emergent plans to use the Series A funds to expand its team, deepen research into AI coding agents, and grow the platform globally.
BUSINESS
Prosus to pump $350 million in Uber rival Rapido; Accel likely to join as investor
As it happens, both Accel and Prosus are key investors in food and grocery delivery platform Swiggy, which just sold its entire stake in Rapido to avoid any conflict of interest.
BUSINESS
Infra.Market raises Rs 730 crore at Rs 24,600 crore valuation led by Nikhil Kamath; plans to file DRHP this month
Moneycontrol understands that this is likely the final private funding round, as Infra.Market plans to file its draft red herring prospectus (DRHP) with the market regulator within weeks, with an IPO expected later this year.
BUSINESS
Urban Company IPO: SBI MF booster shot, stronger governance, transparency, leaving money on the table make investors lap up shares
Spending time in Mumbai and Gujarat to convince HNIs to invest, detailed roadshows, speaking for long and with clarity all helped UC reach here. Where the share lists remains to be seen, but the grey market premium signals a 50 percent jump which should augur well for the firm.
BUSINESS
WestBridge leads $40 million round in Flipkart-backed FinBox to expand B2B digital lending platform
Of the $40 million, $35 million went directly into the company’s coffers in the form of primary capital and the remaining $5 million was through secondary share sales where early angels exited to make way for new investors.
BUSINESS
Swiggy to launch Toing, a standalone app for affordable food options
Toing, which will go live in Pune first, aims to tap demand from students, young professionals and will be an extension to Swiggy’s Rs 99 store. It will be the seventh app from the house of Swiggy. The aim is to increase its base of transacting users and maintain the company’s pace of growth.
BUSINESS
Bhavish Aggarwal-led Ola Electric files Rs 400-crore PLI claim for FY25
Backed by Rs 3,000 crore in 'eligible sales', Ola Electric is expected a liquidity boost through PLI payout
BUSINESS
Over a dozen AI startups in India set to raise seed rounds amid surge in investor appetite
A bulk of the startups negotiating deals are developing AI agents or are creating tools to facilitate their development. Investors are also spending time on AI companion companies, sources told Moneycontrol.
BUSINESS
Groww eyes up to $9 billion valuation, to file updated IPO papers this week
Initially, Groww, which is looking at a November market debut, was targeting a valuation of $7-8 billion but a strong FY25 and a healthy Q1FY26 could result in a higher valuation, sources have told Moneycontrol
BUSINESS
Instamart service at all-time high, outlook for quick commerce overwhelmingly positive: Swiggy Group CEO Sriharsha Majety
Instarmart CEO Amitesh Jha told Moneycontrol that Swiggy will run a Quick India Movement sale event later this month. It is likely to rival Amazon's Great Indian Festival and Flipkart's Big Billion Days signalling that the lines between e-commerce and quick commerce are blurring.
BUSINESS
Former IndiaAI mission advisor Aakrit Vaish to launch Activate, an AI fund with a $75 million corpus
General Catalyst, Aravind Srinivas of Perplexity, Vijay Shekhar Sharma of Paytm, Harsh Jain of Dream 11 are among the notable limited partners (LPs) of the fund, sources told Moneycontrol. Activate has already signed its first term sheet.
BUSINESS
Global chipmakers like ASML showing interest in India a major confidence signal, says Ashwini Vaishnaw
Drawing parallels with India’s steel industry, the minister in an interview to Moneycontrol also said the semiconductor ecosystem will be the next engine of growth for job growth
TECHNOLOGY
MC Interview | Semiconductor will be the next engine of jobs for the country: Ashwini Vaishnaw on India's steel moment
In a wide-ranging interview, Ashwini Vaishnaw spoke about the measures the government is taking to protect IT jobs amid a wave of anti-outsourcing rhetoric from the US, why GST reforms are a game-changer, why real money gaming had to go and progress on India' s AI initiatives.
TECHNOLOGY
No proposal to lift TikTok ban in India, says IT minister Ashwini Vaishnaw
IT minister Vaishnaw's remarks come amid growing speculation that TikTok could make a comeback in the country as relations between India and China begin to thaw.
BUSINESS
India offers policy stability amid global turmoil, says Ashwini Vaishnaw amid India-US tariff tensions
Vaishnaw also credited India’s skilled talent pool and the trust built over more than a decades democratic governance as core to investor confidence.
BUSINESS
PM Modi has always cared for the middle class, GST rate cuts to drive consumption, says Ashwini Vaishnaw
Ashwini Vaishnaw argued that the combined impact of income tax and GST cuts would spur household consumption in a meaningful way.
BUSINESS
India engaging with US, global firms to protect IT jobs, says Ashwini Vaishnaw
India is engaging global firms and foreign governments to shield its $300 billion tech industry from potential US outsourcing curbs under President Donald Trump, Union Minister Ashwini Vaishnaw told Moneycontrol
