Green Revolution, Financial AI, Strategic Acquisitions And More

SoftBank eyes doubling down on software with Icertis, while Pine Labs collaborates for financial AI. EMotorad gears up for a green revolution with a massive gigafactory, and Hexaware boosts analytics prowess with a strategic acquisition. Amidst layoffs and fines, Simpl charts a course towards profitability. Meanwhile, Zomato unleashes real-time weather data for all.

Grab your simmering cup of StartupChai and unwind with our hand-brewed memes.

What Matters

“Abki Baar Double Down”: SoftBank In Talks To Double Down On Software Portfolio Firm Icertis

SoftBank is in some serious talks to double down on their investment in Icertis, a major player in the software portfolio scene. With Icertis looking to snag $150 million in fresh funding, it's like they're gearing up for the big leagues.

And other investors might just follow suit, but it all comes down to that valuation tango between SoftBank and Icertis.

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“Avengers of Finance”: Pine Labs-Owned Setu Partners SarvamAI To Build LLM For Financial Services

Pine Labs, the big player in the financial tech game, has teamed up with SarvamAI to create something groundbreaking.

They're building India's first-ever Large Language Model (LLM) tailored specifically for the banking and financial services sector. It's like they're unleashing the Avengers of finance.

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“Sustainability Ki Duniya Ka Badhshah”: EMotorad To Construct Gigafactory To Make 5 Lakh Electric Cycles Annually

EMotorad is gearing up for a major shift towards sustainability with their latest endeavor. They're building a gigafactory in four phases, starting with a massive 2,40,000 sq ft space. Once completed, this factory will churn out up to 5 lakh electric cycles annually, meeting both local and global demands.

It's a serious step towards eco-conscious transportation, with the facility set to produce crucial components like batteries and motors.

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“Aa Dekhe Zara”: Hexaware Snaps Up Softcrylic To Boost Its Data And Analytics Capabilities

Hexaware's on a mission to level up in the data game, and they're not messing around. They just snagged Softcrylic to supercharge their data and analytics capabilities, tapping into Softcrylic's expertise in everything from data strategy to marketing tech.

Besides, this move coincides with whispers of a $1 billion IPO for Hexaware by Carlyle Group.

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“Nobody Loves You When You’re Down And Out”: Simpl Lays Off Around 100 Employees, Eyes Profitability By Mid 2025

Simpl's making some tough calls lately, letting go of about 100 folks across the board. Word has it that they're aiming for profitability by mid-2025, and these layoffs are part of that game plan.

They're not leaving their people high and dry; impacted employees are getting severance pay plus a little extra based on their tenure.

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“Ae Bhai Zara Dekh Ke Chalo”: Irdai imposes a fine of Rs 1 crore on IPO-bound Go Digit Insurance

Looks like Go Digit Insurance hit a bit of a snag on their road to going public. The Insurance Regulatory and Development Authority of India (IRDAI) slapped them with a hefty fine of Rs 1 crore for not disclosing changes in their preference shares' conversion ratio.

IRDAI has given Go Digit a tight deadline of 45 days to cough up the penalty. With a plan to raise Rs 1250 crore through the IPO, paying 1 crore shouldn’t be too difficult for the company.

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“Neighborhood Friendly Weatherman”: Zomato Unveils ‘Weather Union’ To Open Source Real-Time Weather Data

Zomato's bringing the forecast to your doorstep with a twist. They've launched their very own 'Weather Union,' boasting India's first crowd-sourced weather infrastructure. Using nifty weather devices and some machine learning magic, they're keeping tabs on the skies in real-time.

Besides, they're sharing the wealth by offering free access to all institutions and companies across the country.

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1. BharatRohan, the agritech startup hailing from Gurugram, India, soared higher with a $2.3 million pre-IPO funding boost. Specializing in drone-based hyperspectral remote sensing, they're poised to revolutionize agricultural practices.

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2. REGRIP, the innovative reengineered tyre startup, secures a significant $2 million funding round with backing from SiriusOne Capital, Inflection Point Ventures, and LetsVenture.

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3. Lendingkart, the fintech frontrunner, secures $10 million through external commercial borrowing from BlueOrchard, aimed at empowering small businesses through onward lending.

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4. TBO Tek, the B2B travel portal gearing up for its IPO, secures a substantial INR 696 crore from 47 anchor investors, setting the stage for a promising public debut.

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5. GreenCell Mobility accelerates its UP Ebus Project with a significant credit of INR 307 crore from Sumitomo Mitsui Banking Corporation.

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6. Atlan, the data collaboration software provider, secures a substantial $105 million in its Series C funding round, spearheaded by Singapore’s sovereign wealth fund GIC and Meritech Capital.

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7. IIT Madras achieves a record-breaking feat, securing a staggering Rs 513 crore in funding during the fiscal year 2023-24 from alumni, industry, and individual donors.

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8. Eternz, a Bengaluru-based startup, sparkles with success as it secures USD 1.15 million in pre-seed funding for its online jewellery platform, offering a curated collection of high-quality pieces from diverse brands.

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