Explore the latest news, in-depth reports, and executive analysis tagged with #Fir.
The new fund has received commitments from Play Capital, a Nordic Fund of Funds (FoFs) and family offices such as Eraya, Twin & Bull Investments and Heritage Investments.
The fund has already deployed nearly Rs 55 crore across four deeptech startups.
The round also saw participation from Entrepreneur First and a group of angel investors, including backers from quantitative trading firms.
The Bengaluru-based fund is targeting a corpus of Rs 150 crore, with a Rs 50 crore greenshoe option.
More than 65% of the commitments for the first close came from overseas Limited Partners (LPs), or investors.
The fund is anchored by Self-Reliant India Fund, HDFC Asset Management Company, and HDFC AMC Select AIF FoF.
The Mumbai-based startup will use the fresh capital primarily to scale its enterprise sales infrastructure and fund advanced research and development.
The round also saw participation from a group of angel investors.
The clarification comes after FIRs were registered in Bengaluru against MobiKwik and lending partner Lendbox.
The development comes days after the CBI conducted searches across multiple locations in Chandigarh and Panchkula, seizing financial documents and digital evidence linked to the alleged scam.
Moove's former CEO Jeroen Bruinooge will stay on as SVP and GM for Europe.
The partial exit was facilitated through a secondary sale to the company's existing investors.
The second fund has a target corpus of Rs 300 crore with a greenshoe option to raise up to another Rs 100 crore.
The company said that it is particularly focused on bringing in AI engineers to accelerate development of its next-generation billing and payments platform.
CoinDCX said the FIR is “false” and attributed the case to an impersonation scheme involving individuals posing as the company’s founders.
This comes after Amazon laid off 14,000 people last year in October.
The funding round saw participation from Venture Catalyst and SucSEED Indovation Fund.
Fresh from raising a $250mn fund, Fireside says it's not betting on AI models or power-law outliers, but on India becoming the AI use-case capital.
According to the data revealed by the Ministry of Finance in a reply to Parliament, UPI fraud incidents surged by 85% in FY24.
