DATA SUTRAM FUND RAISE
Y Combinator-backed AI robotics startup Pivot Robots raises funding from NuVentures
Pivot Robots will use the funds for team expansion, particularly in the areas of motion planning and computer vision. Siddharth Girdhar, cofounder of the company told ET, the funding will facilitate team growth, especially in motion planning and computer vision. Additionally, it will support increased robot testing and the establishment of office space.
ICICI Bank raises Rs 3,000 crore through 10-year infra bonds
Funds raised through infrastructure bonds, which have a minimum maturity of 7 years, are exempted from the maintenance of Statutory Liquidity Ratio and Cash Reserve Ratio.
ETtech Deals Digest: Startups raise $1.71 billion in June 2024, marking a 148% on-year increase
The fundraise was done by startups in the early and late stages across 85 rounds, said private market intelligence platform Tracxn.
SBI raises Rs 10,000 cr via bond sales to fund infra projects
Separately, ICICI Bank is likely to carry out a sale of infrastructure bonds on June 28, with the private lender looking to raise up to ₹3,000 crore through 10-year securities, debt capital market sources said. SBI's infrastructure bonds, which mature in 15 years, bear a coupon - or rate of interest to be paid to investors - of 7.36%.
Buoyed by ₹18,000 crore fund-raise, Vi beefs up 4G coverage, network in UP, Uttarakhand
The company plans to add a 900 MHz band layer, which will significantly enhance indoor network experience for its customers in the two circles. “The deployment of L900 coverage will be beneficial in urban areas with dense building infrastructure, as well as suburban and rural areas where signal penetration is a challenge,” Vi said in a statement Thursday.
MFs raise auto sector weight by 80 bps YoY in May. M&M, Tata Motors among stocks with top action
Mutual funds raised auto sector weight by 80 bps YoY in May. IT is the second most preferred sector behind financials, reaching a 68-month high. Private banks hold top spot at 17.2%. Nifty Auto index delivers 75% returns in last year.
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AI app evaluation platform Maxim AI raises $3 million
Maxim AI serves clients in sectors such as software-as-a-service (SaaS), banking, healthcare, and edtech. The company will use fresh capital to expand team and scale operations to partner with more enterprises developing AI products. In fiscal year 2025, the company is focusing on its go-to-market strategy and expanding its platform, which includes proprietary evaluators and a robust data engine.
You.com startup is raising $50 million as it targets AI-assistant market
Similarweb dat shows You.com received 11 million visitors in May, marking an increase in web traffic for the year. However, this figure remains below its peak of 20 million visitors in February 2023. Following ChatGPT's role in ignited interest in You.com's AI-powered search engine in early 2023, some users have since started exploring other options.
Creme Castle raises Rs 7 crore seed funding from V3 Ventures
CRISIL data shows Indian bakery market is expected to grow in the range of 11-12% between 2024 to 2028, to reach sales of Rs 1,850 billion by FY2028. Citing the same data Creme Castle said since Indians are spending more on celebrations and because of social media the demand for their product rose in tier 2 and tier 3 cities.
Surprise poll results impact startups' plans, and other top stories this week
In a week charged with political buzz, the BJP government came back to power after a stormy election, but without a full majority that left it dependent on the whims of its alliance partners. Unnerved, the markets went into a tailspin on counting day, with both benchmark indices, Sensex and Nifty50, dropping 8% intraday. They recovered a day later as hopes of a stable government revived.
ETtech Deals Digest: Startup funding in May rises 62% on year to $817 million
New-age startups raised $817.2 million in May 2024, up 62% from last year, with top investor Venture Catalysts leading funding rounds for startups like Zypp Electric.
IMF upgrades China's 2024, 2025 GDP growth forecasts but warns of risks ahead
"China's economic growth is projected to remain resilient at five percent in 2024 and slow to 4.5 percent in 2025," the IMF said in a press release, adding the decision was "driven by strong first-quarter GDP data and recent policy measures".
Bluestone may turn unicorn in pre-IPO funding round
This funding round will more than double ominchannel jewellery retailer Bluestone's valuation from around $450 million in September 2023. Bengaluru-based Bluestone’s pre-IPO round is seeing interest from new and existing investors, encouraged by the Tata Group’s CaratLane deal where Titan bought out the founder’s (Mithun Sacheti) stake last year.
Insurtech startup Coversure raises $4 million in funding from Enam Holdings
Insurtech startup Coversure raised $4 million in pre-series A funding led by Enam Holdings. They plan to build a consumer-centric insurance engagement platform using data intelligence and machine learning capabilities.
Stock gaming apps under Sebi scanner; ETtech Done Deals
The capital markets regulator is cracking down on illicit gaming apps that offer virtual trading services and fantasy games. This and more in today’s ETtech Top 5.
ETtech Deals Digest: Startup funding plummets 88% on year to $26 million this week
Goodwater Capital emerged as the topmost investor in terms of deal volume in the latest week.
Adani Enterprises, Adani Energy Solutions to consider fund raising next week
Adani Enterprises and Adani Energy Solutions are planning to raise funds via equity through board meetings next week. Adani Enterprises previously raised Rs 12,500 crore through a QIP in May 2023.
Software integration startup UnifyApps raises $11 million led by Elevation Capital
San Francisco-based AI startup UnifyApps is aiming to expand its platform to support over 5,000 applications, advance the capabilities of generative AI and build large language model-powered agents.
Scale AI valued at $14 billion in Nvidia, Amazon-backed funding round
Top tech companies are racing to build AI into their products and services. Startups catering to the surge in demand for AI chips and machine learning have been a bright spot in an otherwise subdued private funding market.
ETtech Deals Digest: Startup funding falls 34% on year to $118 million this week
In terms of volume, total deals during the week stood at 18, compared to 32 a year ago, and 16 in the second week of May 2024. Sequentially, deal value went up about 3.3X from $35.2 million to $117.6 million.
Gold prices set for second weekly gain on Fed rate outlook
The number of Americans filing new claims for jobless benefits fell last week, unwinding nearly half of the jump at the start of the month, indicating that labor market conditions remain fairly tight even as job growth is cooling.
Vodafone Idea Q4 Results: Net loss widens vs Q3; ARPU rise to Rs 146
Vodafone Idea’s net loss for the fiscal fourth quarter, FY24, widened sequentially to Rs 7,675 crore, dragged by high debt and even as it continued to lose subscribers.
Stupa Sports Analytics raises Rs 28 crore from Centre Court Capital, Peer Capital
Founded in 2020, Stupa Sports Analytics provides games federations and sports teams with analytics of player performance data, broadcasting capabilities and sports digitisation tools through its various platforms.
Data collaboration software firm Atlan raises $105 million; valuation nearly doubles to $750 million
Funding led by Singapore's GIC and US-based Meritech Capital values startup at $750 million, up from $450 million in March 2022 when it last raised funds
IIT Madras raises 513 crore from alumni, corporates and donors in FY 23-24
The alumni did most of the heavy lifting, contributing Rs 368.19 crore, followed by the CSR segment contributing Rs 95.53 crore, with the rest coming from other sources.
Log analytics firm Parseable raises $2.75 million from Peak XV's Surge
Nitish Tiwari launched Parseable in 2022. The company focuses on helping businesses handle the growing challenge of log data by storing, managing, and analyzing it using cloud-based solutions. Parseable makes use of open-source formats like Apache Parquet and Apache Arrow to ensure data can be processed and work seamlessly with other systems.
Apple cofounder Wozniak's space startup Privateer buys Orbital Insight, raises $56.5 million
Privateer, founded in 2021 to help satellite operators navigate in Earth's increasingly crowded orbit, closed its Series A funding round in April, led by space-focused venture capital firm Aero X Ventures with other investors including Luxe Capital, Boca, Starburst, and the Winklevoss twins. The news is expected to be announced later on Monday.
AdaniConneX in talks with banks to raise $900-950 million
AdaniConneX secures $900-950 million loan from MUFG Bank for 1 GW data centre expansion in multiple Indian cities. The loan, with an interest rate above SOFR, aims to support Adani Group's venture into the data centre business.
Data privacy startup Skyflow raises $30 million in funding led by Khosla Ventures
Skyflow, with $30 million funding led by Khosla Ventures, provides data privacy vault services with polymorphic encryption for LLMs and AI. It caters to clients like GoodRx, Lenovo, and Hippocratic AI.
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