Global Microsoft Outage, Cult.fit Unveils New Smartwatch, Nazara Acquires Paper Boat Apps and more

Global Microsoft outage takes toll on airlines, banking services, Cult.fit has just unveiled a smartwatch designed for runners, Nazara Technologies has acquired an additional 48.42% stake in its subsidiary, Paper Boat Apps, plus fundraising news about Bitscale, Pintel AI, Aereo, Fibr and others.

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What Matters

“Ae Bhai, Zara Dekh Ke”: Paytm Gets Show Cause Notice From SEBI Over ESOP Grants

Paytm has received a show-cause notice from SEBI regarding stock options granted to founder and CEO Vijay Shekhar Sharma in FY22.

This development was disclosed in the company's Q1FY25 financial report on July 19. The notice comes amid Paytm's ongoing financial scrutiny, adding another layer of complexity to its current situation.

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“Bhaari Blunder Ho Gaya”: Global Microsoft Outage Takes Toll On Indian Airlines As Well As Banking Services Worldwide

A global Microsoft outage has disrupted access to various Microsoft 365 apps and services, causing significant workflow issues for Indian airlines, including Indigo. The airlines are grappling with operational challenges as they struggle to manage without these crucial tools.

Microsoft has attributed the outage to a configuration change in their Azure backend, which led to widespread connectivity failures.

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“Sehat Banao Pehle”: Zomato-Backed Cult.fit Rolls Out Smartwatch For Runners To Track Accurate Data During Workouts

Zomato-backed Cult.fit has just unveiled a smartwatch designed for runners, featuring multi-sport tracking, guided breathing exercises, and female health tracking. The watch also boasts Bluetooth calling and precise GPS geo-positioning.

This launch follows closely on the heels of Cult.fit raising INR 84.5 Cr (about $10.2 Mn) in its series F funding just four months ago.

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“Ek Aur Kadam Hukumat Ki Aur”: Nazara Technologies acquires full ownership of Kiddopia publisher Paper Boat Apps in Rs 300 crore deal

Nazara Technologies, the listed media and gaming giant, has acquired an additional 48.42% stake in its subsidiary, Paper Boat Apps, for INR 300 crore.

This move brings Nazara's total ownership of the company to 100%. The payment, according to their stock exchange filing, will be made in cash in tranches.

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1. Despite Paytm's net loss widening to INR 840.1 crore in Q1 FY25, its shares surged over 6% to Rs 672 on the BSE. The company's operating revenue gains seemed to have buoyed investor confidence.

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2. Bitscale has secured funding in its pre-seed round led by First Cheque, a subsidiary of India Quotient, to help sales and marketing professionals automate their manual workflows. The SaaS startup aims to streamline processes and boost efficiency with this new financial backing.

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3. Abhay HealthTech has brought Indian actor Vindu Dara Singh on board as an investor, though financial terms were not disclosed. This partnership highlights confidence in the platform’s innovative healthcare approach and its rapid growth trajectory.

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4. Pintel.ai has raised INR 8.3 Cr in seed funding led by IvyCap Ventures for its AI-driven sales development platform. The startup aims to enhance sales productivity by 50% through automated prospect research and personalized outreach.

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5. Bengaluru-based drone startup Aereo has raised $15 Mn in its Series B funding round led by 360 ONE Asset, with StartupXseed Ventures and Navam Capital also participating. This funding will help Aereo expand its aerial intelligence solutions for capital asset management.

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6. Rabbitt AI has secured $2.1 million in seed funding led by TechCurators, with contributions from various angel investors. The platform offers a comprehensive suite of tools, including generative AI capabilities, custom LLM development, and voice bot AI agents.

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7. AI-SaaS startup Fibr has raised $1.8 million in seed funding led by Accel, with contributions from 2AM VC and notable angel investors including Kunal Shah and Sunil Kumar. The funds will support Fibr's AI-powered personalization platform.

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8. Healthtech startup Drucare has secured $1.2 million in a pre-Series A round from SATRA Services and Solutions Pvt Ltd. The funds will be used for marketing, business expansion, and operational expenses.

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