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The approval follows Navi’s announcement in August 2026 that it had raised $100 million from Prosus in its first institutional funding round.
Rengaswamy said he would remain a significant shareholder in Quona Capital and continue to support the firm.
The deal is expected to be completed by September 2027, pending regulatory clearance from the Competition Commission of India.
Of the total, the $5 million equity round was led by July Ventures, with participation from Peak XV Partners, Accion Ventures, and Sadev Ventures.
CCI has been examining Apple's App Store practices and allegedly concluded that the company misused its market dominance.
CarDekho-parent Girnar Group’s four entities will be merged into Artivatic Data Labs, an AI-focussed insurtech startup RenewBuy acquired in 2022.
Flexiloans will use the fresh capital to boost its operations, improve product offerings and upgrade its infrastructure.
This development comes as Groww prepares for a pre-IPO fundraising round aiming to secure approximately $200 million.
The proposed transaction also includes the elimination of differential voting rights held by Groww’s founders.
