Bansal bought a total of 42.7 million shares in Lenskart at a valuation of $1 billion, a steep discount from the $9-10 billion valuation the company is aiming for during its IPO.
Freshworks also raised its non-GAAP operating income guidance for the full year to $153–157 million.
During the Q1 2025 earnings call, Freshworks’ CEO said AI adoption had moved beyond experimentation, with nearly half of all new large deals (over $30,000 ARR) in the quarter including Freddy Copilot.
Moneycontrol was first to report on July 9 about Bansal’s plans to borrow around Rs 200 crore and fund this share purchase at a valuation of $1 billion, 90% lower than the $10 billion price tag it is aiming for during its IPO later this year
A response from Delhi university is awaited even after multiple emails, Lenskart said.
To be sure, over 80 percent of Lenskart’s revenues come from optometric eye care, which includes prescription glasses, contact lenses and more. The remaining comes from accessories and lifestyle products like sunglasses and more.
Without a differentiated product, neobanks have taken the route of other fintechs, such as cards, lending and investments, leaving them to play in a crowded market with specialists
The influencer is targeting to expand with mass products like biscuits to raise awareness about product labels.
Ravichandran will take up an investing role at the PE firm and oversee funding activity, source deals and double down on existing portfolio companies across sectors in her new role, sources told Moneycontrol.
HDFC Bank’s former top boss Keki Mistry will also invest some money in his personal capacity, sources told Moneycontrol.
Launched in July 2024, super.money has grown into India’s fifth-largest UPI payments app ahead of established players such as BHIM, WhatsApp Pay, Cred and Amazon Pay
Swiggy has also appointed Faraz Khalid, CEO of Noon, as an independent director on its Board.
The top deck hires follow the appointment of Setu's new Chief Executive Officer (CEO) Anand Raisinghani earlier this year.
The round will be a mix of primary and secondary capital. While the primary component will go towards paying tax to flip back from the US to India, the secondary component will be used to buy shares from some of its early investors
The company claims the new AI-first architecture could deliver up to a threefold increase in operational productivity by digitising and automating complex workflows across institutions.
The December quarter of FY 24 was Paytm’s high point in terms of revenue and other operational metrics like monthly transacting users, number of UPI transactions and gross merchandise value
Netrasemi plans to utilise the proceeds to accelerate R&D, scale up manufacturing, and rollout four new system-on-chip (SoC) variants into production. The startup also plans to double its engineering team from 83 to 166 people over the next year.
The company received foreign investment for technology-related products and services but used it for financial services without the approval of the government or the regulator, the ED has alleged
The US-India corridor is transforming innovation through deeptech collaborations in semiconductors, space, AI, and quantum computing, driving global breakthroughs. India’s talent and US capital are reshaping industries
Nexus will continue to bet on new-age companies in the artificial intelligence (AI), software, fintech, and commerce markets, as it had planned with its seventh fund a couple of years ago.
CEO Darpan Sanghvi said lenders have enforced their charge on individual brands, triggering the breakup of the group structure. Each brand will now be sold separately, with Sanghvi pledging part of his future income to repay dues.
The new feature aims to tackle a common investor challenge by automatically reinvesting monthly bond interest payouts into debt mutual funds
After flip-flopping on the Default Loss Guarantee system, including a brief arrangement in the second half of FY25, Paytm has now fully exited guarantee-backed lending, citing partner preference, confidence in merchant loan performance, and a strategic shift to an asset-light, risk-free model.
The funds will be used to deepen Gupshup’s presence in high-growth regions such as India, the Middle East, Latin America and Africa
PayPal World brings together UPI, Venmo, Weixin Pay and Mercado Pago to enable cross-border shopping and money transfers. The platform, which goes this fall, will let Indians use UPI for international payments without cards or other apps
