Star Health’s Legal Action, Paytm’s Revival, EaseMyTrip’s Collaboration and more

Star Health has taken legal action against Telegram over a major data leak, while Paytm is showing signs of revival as its stock climbs back above INR 700 for the first time in eight months. WazirX receives a temporary reprieve with a four-month moratorium from a Singapore court, allowing it to navigate the aftermath of a substantial hack.

In the travel sector, EaseMyTrip has inked an exclusive deal with PhonePe to expand its hotel listings, and DeHaat is partnering with Drone Destination to introduce innovative agri-drone solutions. Lastly, InCred Financial Services has teamed up with Ola, enabling users to access personal loans seamlessly through the app.

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What Matters

“Tauba Tauba, Saara Mood Kharab Kar DIya”: Insurance Major Star Health Sues Telegram Over Data Leak

Star Health finds itself in troubled waters after a Tamil Nadu court directed Telegram to block chatbots leaking sensitive user data. The insurance giant’s lawsuit follows the actions of a hacker, known as “xenZen,” who exposed personal details of 31 million users via Telegram.

Star Health has condemned the breach as an “illegal hacking” incident, raising concerns over data security in India's digital landscape.

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“Abhi Hum Zinda Hai”: Paytm Shows Signs Of Revival As Stock Closes Above INR 700 After Nearly Eight Months

Paytm's stock seems to be making a comeback, closing above INR 700 for the first time in nearly eight months. This surge follows Emkay Global’s upgraded rating from ‘reduce’ to ‘add,’ signaling renewed confidence in the fintech giant.

With a 2.66% rise, Paytm ended the day at INR 705.25, sparking optimism among investors.

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“Mujhe Baksh Do”: WazirX Gets Some Respite As Singapore Court Grants Crypto Exchange Four-Month Moratorium

WazirX has caught a break as a Singapore court granted it a four-month conditional moratorium, offering the crypto exchange some much-needed relief. The ruling gives WazirX time to address the fallout from a major hack that wiped out over $230 million, roughly 45% of its customers' funds.

The next few months will be crucial as the exchange works to regain stability amid rising concerns.

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“Hum Saath Saath Hai”: EaseMyTrip Signs “Exclusive” Pact To List Hotels On PhonePe

EaseMyTrip has signed an exclusive deal with PhonePe to list its hotel services, offering PhonePe users access to special deals, cab services, and more. This partnership aims to combine EaseMyTrip’s travel expertise with PhonePe’s vast user base, enhancing accessibility for travelers.

Interestingly, this announcement follows CEO Nishant Pitti's sale of shares worth INR 920 Cr just a day earlier.

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“Janmo Ke Saathi”: DeHaat Inks Pact With Drone Destination To Offer Agri-Drone Solutions

DeHaat has teamed up with Drone Destination to bring agri-drone solutions to rural India, aiming to revolutionize farming practices. Drone Destination will offer drone spraying services while promoting DeHaat's seeds and fertilizers, using a fleet of nearly 250 drones.

This partnership signals a high-tech shift in Indian agriculture, making precision farming more accessible to rural communities.

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“Ye Bandhan Toh Pyaar Ka Bandhan Hai”: InCred Financial Services Partners With Ola To Offer Personal Loans

InCred Financial Services has partnered with Ola to offer personal loans of up to INR 10 Lakh directly through the Ola app, making financial access easier for users. InCred, which became a unicorn in 2023, operates across lending, wealth management, and retail investments.

This collaboration combines Ola’s vast user base with InCred’s financial expertise, enhancing convenience for millions of users.

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1. Seekho, a learning-focused OTT platform, is in advanced talks to raise $10 Mn in a Series A round co-led by Lightspeed, marking its second funding round in less than 18 months. The Bengaluru-based company is expected to be valued at $45 Mn, with two investors eyeing a 20% stake.

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2. Two Point O Capital has raised $6.3 Mn in seed funding, led by Omnivore, to support clean energy projects struggling with capital shortages. The round saw participation from Multiply Ventures, RTP Global, GrowX, and other prominent investors.

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3. Giva, an omnichannel jewelry startup, has secured $12 Mn in an extended Series B round from Premji Invest, marking its first fundraising effort of 2024. This capital injection will help Giva enhance its market presence and expand its offerings.

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