Early-stage investment firm Capria Ventures has concluded the fundraising for its India Opportunity Fund at Rs 153 crore (around $19 million).This follows Capria Ventures' announcement of a full-cash exit from job-tech startup Awign, in which Japanese HR firm Mynavi Corp acquired a majority stake.“Such a majority stake acquisition by a global multinational firm (Mynavi Corp) in a company like Awign is a great milestone for the entire venture capital industry. Through this exit, we will be...
Omnichannel eyewear retailer Lenskart saw its consolidated operating revenue more than double to Rs 3,788 crore in FY23 from Rs 1,502 crore a year earlier. The Gurugram-based company reduced its losses from Rs 102 crore in FY22 to Rs 64 crore in FY23. Total expenses also increased in line with the growing scale of the company, coming in at Rs 4,025 crore in FY23 compared to Rs 1,726 crore in the year-ago period. Notwithstanding the loss on a net basis, Lenskart reported earnings before interest,...
Israel's government has launched a new fund to encourage institutional investors to boost investments in high-tech companies, the Israel Innovation Authority said on Sunday. The tech sector is a key driver of Israel's economy, accounting for close to 20% of output, 12% of jobs, more than 50% of exports and 25% of tax income. The high-tech sector is a central and significant pillar of the Israeli economy, and we must ensure diversity in its sources of funding, said Finance Minister Bezalel...
A group of tech companies in the north of England have called for the creation of a Manchester-based digital investment fund to help challenge the “dominance of London and the South East”. Industry body Manchester Digital and several tech firms based in the north or with a significant northern presence – including Auto Trader, BT […]
Fintech giant PhonePe has put big money into its subsidiaries to grow businesses such as insurance broking, wealth management and hyperlocal ecommerce. This and more in today’s ETtech Morning Dispatch.Also in the letter:■ Contractual hiring picks up in IT■ ETtech Done Deals■ World Bank on DPI adoption PhonePe poured bulk of past year’s investments into insurance biz 109546396Walmart-owned fintech giant PhonePe has invested over Rs 800 crore in its subsidiaries during the last year to grow...
Direct-to-consumer snacks and instant foods maker Adukale has secured Rs 11 crore in a funding round led by venture fund Force Ventures. The funds will primarily be used for expansion of the company’s offline presence, its chief growth officer, Vinay Gopinath, told ET.Adukale, founded in 2009, sells a variety of snacks and instant food ingredients for dishes like dosa, idli and poha. With the latest funding round, the firm has raised more than Rs 16 crore.Chief executive Bharat Kaushik said the...
Walmart-owned PhonePe has invested over Rs 800 crore in its subsidiaries during the last year to grow businesses ranging from insurance broking to wealth management and hyperlocal ecommerce, regulatory filings show. More than half of this, or Rs 426 crore, went to PhonePe Insurance Broking Services — a clear indication of the payment firm’s intention to build a large retail cover distribution business.PhonePe has infused more than Rs 1,000 crore as equity investment in its insurance unit since...
London, United Kingdom, April 26th, 2024, Chainwire The Slothana (SLOTH) presale has raised over $15 million in funding and is entering its final stage, with two days remaining before the token lists on decentralized exchanges (DEXs). Slothana was able to hit this milestone after initially raising $2.5 Million is 72 hours, followed by a cumulative […]
Dan Wetzel, Ross Dellenger, and SI's Pat Forde react to the news of Reggie Bush getting his Heisman trophy back, Dylan Edwards hitting the portal, and their favorite NFL Draft memories.
Eniac has raised $60 million for Select 1, the firm’s vehicle for follow-on later-stage investments, and $160 million for Eniac VI. © 2024 TechCrunch. All rights reserved. For personal use only.
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Tech Mahindra, country's fifth largest IT services firm, reported a decline in net profit of 40.9% year-on-year (YoY)to `661 crore primarily driven by slowdown in its telecom, communications, media and entertainment business, which is its largest vertical with 36.5% market share.The profit stood at Rs 1,118 crore in last year's March quarter. Sequentially, profit grew 29.6% from Rs 510 crore in the December quarter because of a one-off gain. The Pune-headquartered firm’s consolidated revenue...