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-based firm Pavestone on Thursday announced the final close of its Pavestone Fund with a total corpus of Rs 816 cro...
14/11/2024

-based firm Pavestone on Thursday announced the final close of its Pavestone Fund with a total corpus of Rs 816 crore, surpassing the initial target size of Rs 600 crore.

Mankind Pharma Limited Colruyt Group

The fund, which focuses on early growth-stage B2B technology startups, surpassed its initial target of Rs 600 crore corpus.

Ride-hailing Rapido, which competes with Ola and Uber in India, has cut its by 45 per cent while has jumped 46 per...
14/11/2024

Ride-hailing Rapido, which competes with Ola and Uber in India, has cut its by 45 per cent while has jumped 46 per cent during the financial year 2023-24.

“This growth was fueled by a 1.5x rise in ride orders, reaching nearly half a billion rides in FY24, underscoring Rapido’s increasing appeal among India’s vast commuter base,” the company said.

’ body CAIT on Wednesday released a alleging players such as Zomato-owned blinkit, Swiggy Instamart, Zepto, etc., m...
13/11/2024

’ body CAIT on Wednesday released a alleging players such as Zomato-owned blinkit, Swiggy Instamart, Zepto, etc., misusing (foreign direct investment) regulations, manipulating the market, and driving small retailers particularly stores out of business.

CAIT said that instead of using FDI to build assets, quick commerce players are funding deep discounts and covering operating losses.

The value of financed through the platform TReDS (operational since 2017) has surged more than 23 times, said Michae...
13/11/2024

The value of financed through the platform TReDS (operational since 2017) has surged more than 23 times, said Michael Debabrata Patra, Deputy Governor, ( ) on Wednesday.

RBI Says

The Deputy Governor noted that TReDS addresses the credit gap of MSMEs estimated at around Rs 52.2 trillion (Rs 52 lakh crore) by connecting them with banks and clients, with a reduction in funding costs up to 2.5 percentage points.

The Pre-packaged Resolution Process ( ) introduced in April 2021 for has admitted only 13 applications as of Septemb...
12/11/2024

The Pre-packaged Resolution Process ( ) introduced in April 2021 for has admitted only 13 applications as of September 30, 2024, said insolvency regulator Insolvency and Bankruptcy Board of India (IBBI) in its latest quarterly newsletter for July-September 2024.

Out of the admitted cases, one has been withdrawn, resolution plans for five others have been approved and seven cases are ongoing.

-focused Profectus Capital has reported a 15 per cent growth in its assets under management ( ) as of September 2024 ...
12/11/2024

-focused Profectus Capital has reported a 15 per cent growth in its assets under management ( ) as of September 2024 from the year-ago period while pretax was Rs 21 crore.

The total income from operations for the half year increased to Rs 202 crore compared to Rs 194 crore for the half year ended September 30, 2023.

Out of over 2.12 lakh complaint applications involving Rs 47,147 crore submitted since October 2017 by micro and small e...
12/11/2024

Out of over 2.12 lakh complaint applications involving Rs 47,147 crore submitted since October 2017 by micro and small enterprises (MSEs) against delay in payments from their buyers, only 20 per cent of applications have been disposed so far.

59,318 applications amounting to Rs 11,577 crore were rejected by MSE Facilitation Councils so far.

, the -learning platform founded by the “world’s fastest ” has raised $16.5 million in Series B led by Epiq Capit...
11/11/2024

, the -learning platform founded by the “world’s fastest ” has raised $16.5 million in Series B led by Epiq Capital and supported by Z3Partners, with participation from existing Lightspeed Ventures and Eight Roads.

Bhanu was declared the world’s fastest human calculator after he won India’s first-ever gold in the Mental Calculation World Championship at the Mind Sports Olympiad 2020 in London.

Data sharing platform Equal on Monday said it has raised $10 million in its Series-A round led by Prosus Ventures, Tomal...
11/11/2024

Data sharing platform Equal on Monday said it has raised $10 million in its Series-A round led by Prosus Ventures, Tomales Bay Capital and its founder, Keshav Reddy, at a post-money valuation of $80 million.

Founded by Keshav Reddy and Rajeev Ranjan, Equal helps businesses streamline KYC, fraud prevention, and regulatory compliance through integration with over 50 ID databases and over 4,000 API providers.

Amazon India Seller Services, the arm of company in India, has reported 14 per cent growth in while have narro...
11/11/2024

Amazon India Seller Services, the arm of company in India, has reported 14 per cent growth in while have narrowed by 28 per cent for the financial year 2023-24.

The total expenses increased by 6.5 per cent to Rs 29,062 crore in FY24 from Rs 27,283 crore in FY23 for Amazon Seller Services, the marketplace arm of e-commerce company Amazon in India.

Businesses with more than Rs 250 crore turnover, from earlier Rs 500 crore, and all central public sector enterprises (C...
08/11/2024

Businesses with more than Rs 250 crore turnover, from earlier Rs 500 crore, and all central public sector enterprises (CPSEs) will now be required to onboard the platform by the ( ), the Ministry of Micro, Small and Medium Enterprises,Government of India notified on Thursday.

RBI Says M1xchange Invoicemart C2FO

“The onboarding process on the Trade Receivables Discounting System platforms shall be completed by 31st March, 2025,” the MSME Ministry said in a notification.

Non-banking financial company ( ) Arc on Thursday announced its maiden through its fund management arm, Northern Arc ...
07/11/2024

Non-banking financial company ( ) Arc on Thursday announced its maiden through its fund management arm, Northern Arc Investments IFSC Trust and $65 million in debt commitments for the fund.

Based in Gujarat International Finance Tec-City (GIFT City), the company said the new fund will focus on growth-stage companies in commercial, industrial, and residential solar energy, energy efficiency, green buildings and materials, e-mobility, and sustainable agriculture sectors.

from operations for Instakart Services, which runs Ekart Logistic, declined to Rs 12,115 crore in FY24. Flipkart
07/11/2024

from operations for Instakart Services, which runs Ekart Logistic, declined to Rs 12,115 crore in FY24.

Flipkart

The company’s total expenses also increased to Rs 14,149 crore in FY24 from Rs 13,325 crore in FY23.

Profectus Capital focused on on Thursday said it has raised $25 million (approximately Rs 205 crore) through the iss...
07/11/2024

Profectus Capital focused on on Thursday said it has raised $25 million (approximately Rs 205 crore) through the issuance of non-convertible debentures ( ) to IFC - International Finance Corporation ( ), a member of the World Bank Group.

The deal marks IFC’s first investment to finance energy-efficient (EE) machinery for MSMEs in India.

The and Support (PMS) by Ministry of Micro, Small and Medium Enterprises,Government of India was introduced to pro...
07/11/2024

The and Support (PMS) by Ministry of Micro, Small and Medium Enterprises,Government of India was introduced to provide marketing support to MSMEs facing problems in exploring new markets and retaining existing ones due to a lack of , scarcity of , and unorganized ways of selling or marketing.

The scheme gives preference to first-time participants and units from remote locations such as from aspirational districts and also from SC/ST and women.

Induz raises round led by
05/11/2024

Induz raises round led by

Founded in 2023, Induz provides secure, encrypted data management within confidential computing environments, ensuring that neither cloud providers nor Induz itself can access customers’ data.

Digital and platform has acquired -based company Walnut in an all-cash deal, marking its first international ...
05/11/2024

Digital and platform has acquired -based company Walnut in an all-cash deal, marking its first international purchase and fourth this year after three acquisitions in the domestic market since June of the current year.

The company said it has bought a 50 per cent stake in an all-cash deal in Walnut which offers technology solutions to banks and financial institutions to manage complex and large-scale data sets.

Founded in 2019, technology provider Marut Drones is also exploring and applications other than its key focus on ...
05/11/2024

Founded in 2019, technology provider Marut Drones is also exploring and applications other than its key focus on . The company has a fleet of 750 drones and over 1,000 drone pilots across 14 states in India.

Founded in 2019, drone technology provider Marut Drones is also exploring disaster management and surveillance applications other than its key focus on agriculture. The company has a fleet of 750 drones and over 1,000 drone pilots across 14 states in India.

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