1) polygon and Alma Better join hands to address, Talent crunch in the Indian web3.0 space
2) CAG flag concern On Aadhaar Data collection And management.
3) whatsapp Gets NPCI nod to Expand payments services.
The move will come as a huge relief for WhatsApp which has been seeking removal of a cap on the number of users it can roll out the service to.
The relaxation, although huge, could stil limit WhatsApp’s growth as the platform has more than 500 Mn users in the country.
WhatsApp competes with other major players such as Paytm, Google Pay, PhonePe, among others.
4) Amazon warn future Group to the against convince shareholders need .
5) NITI aayog to the EV player recall batches .
6) Bengaluru-based SaaS startup ITILITE raised $29 Mn in the Series C funding round led by Tiger Global and Dharana Capital along with participation from existing investors Matrix Partners India and Tenacity Ventures.
The fresh capital will be used to accelerate ITILITE’s go-to-market journey and deepen its relationships.
Founded in 2017 by Mayank Kukreja and Anish Khadiya, ITILITE offers travel and expense management solutions to other companies. It claims to offer 8X ROI to its customers including Automation Anywhere, Praj HiPurity, Page Industries, Byjus, Swiggy, and Zetwerk.
ITILITE reported that it has seen 5X growth since its Series B round in 2020. Currently, it has more than 500K users from over 300 companies in India and the US.
7)Walmart-owned digital payment app PhonePe has said that the Supreme Court (SC) has rejected the Special Leave Petition (SPL) filed by Resilient Innovations (BharatPe) that questioned the judgment of the Bombay High Court.
8) Early-stage venture capital fund Arkam Ventures has completed the final closure of its maiden fund at $106 Mn (INR 790 Cr). The fund was oversubscribed at INR 790 Cr against its original target of INR 650 Cr.
The fund was backed by institutional investors including British International Investment Plc, Nippon India Digital Innovation, Evolvence Group, Capria, and SIDBI, and other global funds of funds, HNIs, and Indian family offices.
Individual investors including Info Edge’s Sanjeev Bikhchandani, Flipkart’s Binny Bansal, Paytm’s Vijay Shekhar and Rajesh Mago also backed the fund.
The fund will invest in Pre-Series A to Series B deals with an individual cheque size between INR 10 – INR 20 Cr. It is reported that the fund has backed 12 companies to date.
9) With increasing popularity and user adaptation, the real-money gaming sector has seen steady growth in the last two years. But like other emerging sectors, real-money gaming has also come under the regulatory scrutiny multiple times. For example, the sector faced blanket bans from state governments, although struck down by high courts later. In between these, real-money gaming players have upped their marketing games significantly for higher awareness and consumer acquisition.
10)Early-stage venture capital fund Arkam Ventures has completed the final closure of its maiden fund at $106 Mn (INR 790 Cr). The fund was oversubscribed at INR 790 Cr against its original target of INR 650 Cr.
The fund was backed by institutional investors including British International Investment Plc, Nippon India Digital Innovation, Evolvence Group, Capria, and SIDBI, and other global funds of funds, HNIs, and Indian family offices.
Individual investors including Info Edge’s Sanjeev Bikhchandani, Flipkart’s Binny Bansal, Paytm’s Vijay Shekhar and Rajesh Mago also backed the fund.
The fund will invest in Pre-Series A to Series B deals with an individual cheque size between INR 10 – INR 20 Cr. It is reported that the fund has backed 12 companies to date.
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