India Tech News 🇮🇳CID takes up probe on fintech startup Jar; HC hears plea for quashing FIR: Officials at the CID's Deposit Fraud Investigation division are investigating the Bengaluru-based startup for operating without a licence from Sebi or RBI. https://economictimes.indiatimes.com/tech/startups/cid-takes-up-probe-on-fintech-startup-jar-hc-hears-plea-for-quashing-fir/articleshow/128788581.cms #India #IndianTech #TechNews #Fintech #Startups
Wint Wealth revenue jumps 2.6X in FY25, cuts losses by 60%: Bengaluru-based debt investment platform reports strong financial performance with operating revenue jumping 2.6 times and losses narrowing to Rs 8.2 crore. https://entrackr.com/fintrackr/wint-wealth-revenue-jumps-26x-in-fy25-cuts-losses-by-60-11155224 #India #IndianTech #TechNews #Fintech #Startups
Wootz.work raises US$ 6.6M in Series A round led by Z47: B2B engineering equipment marketplace secures funding with participation from Nexus Venture Partners, AdvantEdge Founders, and Stride Ventures. https://entrackr.com/snippets/wootzwork-raises-66-mn-in-series-a-round-led-by-z47-11155346 #India #IndianTech #TechNews #Ecommerce #Startups #B2B
Tattvam AI secures US$ 1.7M in pre-seed round led by Seedcamp: The deeptech startup is building AI systems to automate semiconductor chip design. The round saw participation from EWOR, Entropy Industrial Ventures, Concept Ventures, and semiconductor angel Stan Boland. https://entrackr.com/snippets/tattvam-ai-secures-17-mn-in-pre-seed-round-led-by-seedcamp-11154738 #India #IndianTech #TechNews #AI #Semiconductor #Startups #DeepTech
BillDesk to acquire Worldline's India payment biz for US$ 70.8M: Indian payments firm enters agreement to acquire the Indian payment operations of French payments major Worldline SA. The estimated equity value is about US$ 70.8 million. https://entrackr.com/news/billdesk-to-acquire-worldlines-india-payment-biz-for-708-mn-11154219 #India #IndianTech #TechNews #Fintech #Payments #BillDesk
India's semiconductor push is driving a surge in hiring as companies like Micron, AMD, Applied Materials and L&T Semiconductor seek specialised talent in chip design, verification and AI accelerators: Finance minister Nirmala Sitharaman announced a Rs 1,000 crore allocation for the second phase of the India Semiconductor Mission under FY27 to boost capabilities. https://economictimes.indiatimes.com/tech/technology/indias-semicon-business-push-triggers-race-for-domain-experts/articleshow/128762564.cms #India #IndianTech #TechNews #Semiconductor #ITServices
India’s semicon business push triggers race for domain experts
India’s semiconductor push is driving a surge in hiring as companies like Micron, AMD, Applied Materials and L&T Semiconductor seek specialised talent in chip design, verification and AI accelerators. Demand for system-level engineering skills far outstrips supply. Finance minister Nirmala Sitharaman announced a Rs 1,000 crore allocation for the second phase of the India Semiconductor Mission under FY27 to boost capabilities.
Infra.Market, a B2B e-commerce platform for construction materials, has raised Rs 1,250 crore in debt ahead of its IPO: The debentures will be secured through hypothecation of company assets and promoter shareholding, with funds mostly used to refinance existing borrowings. https://economictimes.indiatimes.com/tech/technology/infra-market-raises-rs-1250-crore-in-debt-ahead-of-ipo/articleshow/128757014.cms #India #IndianTech #TechNews #Ecommerce #Startup
Infra.Market raises Rs 1,250 crore in debt ahead of IPO
The debentures will be secured through hypothecation of certain company assets and pledge of promoter shareholding and shares of group companies, including RDC Concrete, Neptune Readymix, and Robo Quarries. The funds will mostly be used to refinance existing borrowings.
Capillary Technologies is acquiring SessionM from Mastercard for US0 million in cash to expand its loyalty and engagement suite: The deal will add US5 million in ARR, boosting Capillary's current US2 million, with around 140 employees moving to the Indian company as part of the acquisition. https://economictimes.indiatimes.com/tech/technology/capillary-technologies-to-acquire-mastercards-loyalty-business-for-20-million/articleshow/128756067.cms #India #IndianTech #TechNews #Fintech #Acquisition
Capillary Technologies to acquire Mastercard's loyalty business SessionM for $20 million
Capillary Technologies is acquiring SessionM from Mastercard for $20 million in cash to expand its loyalty and engagement suite. The deal will add $35 million in ARR, boosting Capillary’s current $82 million. SessionM serves more than 40 enterprise customers, including Fortune 500 companies, adding major airlines, airports and QSR chains to Capillary’s portfolio.
Aakash Educational Services FY24 revenues remained flat at Rs 2,437 crore, but losses surged to Rs 2,443 crore: The edtech company is undergoing significant ownership changes with Manipal Group becoming the largest shareholder amidst senior exits and parent company insolvency proceedings. https://economictimes.indiatimes.com/tech/startups/akash-fy24-revenues-flat-at-rs-2437-crore-losses-at-rs-2443-crore/articleshow/128754464.cms #India #IndianTech #TechNews #Edtech #Aakash
Akash FY24 revenues flat at Rs 2,437 crore, losses at Rs 2,443 crore
Aakash Educational Services Limited saw revenues remain steady at Rs 2,437 crore in FY24, but losses surged to Rs 2,443 crore, largely due to exceptional items. Excluding these, the company reported a Rs 61 crore loss. Amidst senior exits and its parent company's insolvency, Aakash is undergoing significant ownership changes, with Manipal Group becoming the largest shareholder.
Offline insurance distribution in India could surge fourfold to Rs 60,000 crore by FY30, driven by agent-led sales and POSP channels: HSBC report projects motor insurance to lead growth, with key players including Turtlemint and PB Fintech's PB Partners. https://economictimes.indiatimes.com/tech/technology/offline-insurance-distribution-could-surge-4x-to-rs-60000-crore-by-fy30-hsbc-report/articleshow/128750653.cms #India #IndianTech #TechNews #Fintech #Insurance
Offline insurance distribution could surge 4X to Rs 60,000 crore by FY30: HSBC report
Agent-led insurance distribution sourced Rs 13,800 crore in premiums in FY25 and is projected to reach Rs 60,000 crore in five years, says HSBC Global Investment Research. Motor insurance leads via POSPs. Key players include Turtlemint and PB Fintech’s PB Partners, though the business remains loss-making.