- The current wave of GCCs is not about cost arbitrage, it's about innovation arbitrage," Nilekani said at the company's 44th annual general meeting (AGM) held virtually on Wednesday.
- Indian drone startup Raphe mPhibr has raised $100 million in a funding round led by General Catalyst, with support from existing investors like Amal Parikh and Think Investments. This marks the largest private funding round in India’s drone sector, bringing the company’s total funding to $145 million.
- Adani reiterated the group's capital expenditure plan of $15-$20 billion annually over the next five years.
- PhonePe, India's largest digital payments provider, is gearing up for an initial public offering. The IPO could potentially raise $1.5 billion. The fintech company may file preliminary documents as early as August. The deal could value PhonePe at around $15 billion. Kotak Mahindra Capital, JPMorgan, Citigroup, and Morgan Stanley are managing the offering.
- While traditional companies such as Vishal Mega Mart have opted for this mode, and recently, Tata Capital chose to go confidential, the trend is picking up among startups that operate in a competitive market.
- In a significant move to bolster the startup ecosystem, the Securities and Exchange Board of India (Sebi) has introduced three pivotal measures. First, startup founders will now be allowed to retain previously issued employee stock options, providing them with greater flexibility.
- The collaboration targets the support of one million entrepreneurs through digital tools, venture platforms, and regional-language storytelling initiatives under the Bharat Project.
- The rate at which the company is bleeding cash provides a stark illustration of the unprecedented financial demands of the artificial intelligence industry, particularly at xAI, where revenues have been slow to materialize.
- The Bengaluru-based startup, which focuses on UPI payments, had raised $12 million from Incubate Fund India and Unilever Ventures last October.
Beas Bulletin Network
