Latest Startup News, Funding News, Tech News, Insights & Stories from Indian Startup Ecosystem
Summary: BlueMedix, a leading retail pharmacy chain in Eastern India, has raised $5 million in a pre-series funding round led by a Dubai-based family fund. With 130 stores across Bihar, Jharkhand, UP, and MP, the company plans to expand nationally, targeting South, West, and Central India. The funding will support geographic growth, the establishment of…
Summary: Kisaan Say, India’s first cross-category direct-from-origin food brand, has raised $2 million in a pre-seed funding round led by Jungle Ventures via its First Cheque@Jungle platform, with participation from senior food industry leaders. Co-founded by Nitin Puri, Manoj Karki, and Vaishali Mehta, the brand partners with 20 farmer collectives, benefiting over 50,000 farmers. KisaanSay…
Summary: Sarla Aviation, a Bengaluru-based aerospace startup, has raised $10 million in funding led by Accel, with participation from notable angel investors. Founded in 2024, the company aims to address urban congestion through electric air taxis. Its first prototype, Shunya, designed for six passengers and a pilot, will debut at the Bharat Mobility Global Expo….
Crypto investment platform BitSave has successfully closed its pre-Series A funding round, securing an undisclosed amount from Leo Capital. The platform, founded in 2022 by former core team members of Koinex—Zakhil Suresh, Sajal Sharma, Asif Kattakath, and Vishnu Karthkeyan—aims to simplify long-term crypto investments by offering passive investment products, including a flagship crypto index product…
Summary: In a bid to enhance the startup ecosystem and promote innovation in India, Finance Minister Nirmala Sitharaman announced the removal of the angel tax. The angel tax, introduced in 2012 under Section 56(2)(viib) of the Income Tax Act, imposed a tax on premiums paid by investors above the fair market value of shares in…
A global Microsoft outage affected users across various sectors, including banks, airlines, and media broadcasters, on Friday. The disruption, occurring just hours after Microsoft began addressing an issue with its Microsoft 365 apps and services, led to widespread reports of service failures. Despite Microsoft’s updates suggesting improvements, outages continued globally. In Australia, major banks, airlines,…
Google has announced a significant price reduction for Google Maps services in India and will begin accepting payments in Indian rupees starting August 1, 2024. This move follows the recent launch of Ola Maps by ride-hailing giant Ola, which offers competitive pricing and billing in Indian rupees. Ola’s transition to its own mapping solution is…
Indian cryptocurrency exchange WazirX suffered a security breach on Thursday, resulting in the temporary suspension of all withdrawals. The breach involved the transfer of approximately $230 million from one of WazirX’s multisig wallets to an unknown address. Web3 security firm Cyvers reported the suspicious activity, leading WazirX to confirm the breach and pause withdrawals to…
Summary: AstroTalk, an online astrology platform, raised ₹78.3 crore in a Series A funding extension from Left Lane Capital and Elev8 Capital. Founded in 2017 by Puneet Gupta and Anmol Jain, AstroTalk connects users with astrologers and other experts via the internet, phone, and chat. The platform boasts 13,000 practitioners and generates 90% of its revenue from…
Key Points Seed Funding Success: EleFant, a Mumbai-based mobile app-based toy library, secured Rs 6 crore in seed funding co-led by Venture Catalysts and Malpani Ventures. Founding Vision: Founded in 2023 by Sourabh Jain, EleFant aims to transform how Indian families engage with toys and play, offering a diverse selection of toys and books for…