Author: Editorial Team

During a meeting on Monday (29th May), Indian Railway Catering and Tourism Corporation Ltd (IRCTC) announced an impressive Q4 FY23 result, with a 30% rise in net profit by reaching ₹278.8 crore, which was ₹214 crore in the same quarter of the previous year. The company recommended a final dividend of ₹2 per share (100%) for FY23. In Q4, IRCTC witnessed a 9% increase in profit after tax (PAT) on a sequential basis, reaching Rs 256 crore. Revenues also rose by 5% quarter-on-quarter, amounting to Rs 918 crore. These positive figures indicate the company’s ability to maintain a solid financial…

Read More

PYOR is a pioneer in enabling high-fidelity data and insights for the global digital assets industry. Today, it announced dollars 4 million of funding in its seed round. Castle Island Ventures led this round of funding. This was with additional investment from Force Ventures, Hash3, Antler, Future Perfect Venture, CoinSwitch Ventures, Coinbase Ventures, and investor Balaji Srinivasan. The Co-Founder, Krishna Hegde, said that since launching PYOR the last year, they have focused on building the industry standard for digital asset platforms. Retail investors primarily drive digital assets. It is also the institutional-grade infrastructure for decision-making that was limited. Despite digital…

Read More

Fivetran, the data startup company, has received $ 125 million in debt financing from Vista Credit Partners. This is to accelerate enterprise growth, global go-to-market strategy, and platform innovation. The company CEO, George Fraser, said that the automated data movement platform of Fivetran helps enterprises to connect to all of their data. This is either in the cloud or on-prem with 99.9% guaranteed uptime. The financing shall allow them to accelerate research and development. It will also help the company to expand its automated data movement platform as they continue to scale worldwide. The tech unicorn claims to have achieved…

Read More

Swiggy’s food delivery business turned profitable in March 2023 (quarter 4 of the financial year 2023) after considering corporate costs and excluding employee stock options (ESOP). Its CEO said in a blog post. Sriharsh Majety wrote about Swiggy’s financials days after two US investors valued the company. According to a filing with the US Securities and Exchange Commission, a fund managed by asset management firm Barron Capital Group has cut Swiggy’s valuation by 34 per cent to $7.1 million as of December 2022. According to a filing, Invesco, which led Swiggy’s previous funding round, has cut the valuation by 33…

Read More

Leumas is a digital manufacturing solution for brands. It has raised rupees seven crores in a pre-seed funding round. Anicut Capital, Capital 2B, and Capital A led the pre-seed funding round. The funds will go toward technology infrastructure strengthening, deployment, and GTM rollout to help brands move to digital manufacturing for improved business outcomes. Nitesh Kumar and Shuvajit Biswas founded Leumas. The company gives on-demand manufacturing capabilities through digital factory technology for cosmetics, nutrition, and pharma brands. Digital Factory Technology is a cyber-physical platform of software-controlled robotic production lines that is modular, re-configurable, and scalable, enabling unparalleled flexibility around batch…

Read More

WhatsApp has agreed to cancel several mobile numbers from its messaging platform identified as fraudulent users whose mobile services have been disconnected. On Tuesday, Ashwini Vaishnab (Telecom Minister) said they have actively engaged with WhatsApp. They have agreed that customer protection is paramount. So, they are on board to deregister users who are identified as fraudulent users. He further said that WhatsApp should stop scammers calling from the so-called international numbers for fraud. He further said that the government has engaged with platforms like Telegram and others for similar issues. This included canceling bad actors off the platform. WhatsApp is…

Read More

Ashnni Motors, an electric vehicle startup, raised $ 244,000 in the pre-seed round of funding from WealthTrust Capital Services. Sneha Jain, Pushpak Ranka, Alisha Poonawalla Menezes, and Dawson Menezes are some of the investors from WealthTrust who participated in the round of funding. Subodh Karunasagar and Vishal Mali founded the company in 2017 in Pune. The company aims to design and manufacture intelligent and purpose-built EV fleets. In 2021, Ashnni Motors received a product development grant. This was from the Government of India’s Department of Science and Technology. It was also a part of the Climate Collective accelerator program. What…

Read More

WickedGud, a direct-to-consumer start-up company, has announced an investment from Shilpa Shetty (Bollywood actress). The company name is 100Percent Nourishment Pvt Ltd, which markets health food products under the WickedGud brand. It raised rupees 2.25 crore from Shilpa Shetty. This latest investment by Shilpa Shetty follows earlier angel funding that included Mumbai Angels, Titan Capital, Dholakia Ventures, NB Ventures, Venture Catalyst, and Aman Gupta, BOAT’s co-founder. Manish Debnath, Bhuman Dani, and Soumalya Biswas founded WickedGud in 2021. The startup brand has grown over 300 per cent in the last year. Its delicious and healthy pasta and noodles are 100 per…

Read More

The Economic Offences Wing (EOW) has registered a First Information Report (FIR) against Ashneer Grover, the ousted co-founder and Managing Director of BharatPe, in response to a complaint filed by the company. The FIR alleges fraud of INR 81.28 crore. Additionally, BharatPe has filed a civil suit seeking damages amounting to INR 88.67 crore with the Delhi High Court. Details of the FIR According to documents reviewed by Inc42, the FIR accuses Ashneer Grover, his wife Madhuri Jain Grover, and other family members of serious criminal offences, including criminal breach of trust, cheating, forgery, and criminal conspiracy. BharatPe alleges that…

Read More

India’s TagZ Foods, a premium GenZ snack brand and the country’s first popped chips maker, raised $2 million in a Pre-Series A funding round. Investors such as 9 Unicorns, Agility Ventures, Dexter Angels, Venture Catalysts, Klub, Indifi, and Rannvijay Singha led the round. TagZ also secured $1.2 million in seed funding from angel investors in 2020. After appearing on Shark Tank India’s first season, it received undisclosed funding from Namita Thapar and Ashneer Grover. The $2 million funding will accelerate TagZ’s growth, expand into new markets, enhance manufacturing capabilities, improve operations, and introduce new products. Additionally, the funds will improve…

Read More