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Pymnts
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Shift4 Pays $180 Million for Australian Payments Processor Smartpay
- Shift4, an integrated payments and commerce technology firm, is set to acquire Australian payments processor Smartpay for $180 million to strengthen its presence in Australia and New Zealand.
- The acquisition aims to combine payment infrastructure with Smartpay’s distribution capabilities to offer leading products like SkyTab POS for restaurants, SkyTab Venue for stadiums, and end-to-end payment solutions for hotels and unified commerce merchants in the region.
- Shift4's strategy involves combining acquisitions to provide an integrated payment experience with localized distribution, service, merchant-facing products, and owned payment rails to scale in various regions including Ireland, Germany, and the United Kingdom.
- Shift4's previous acquisition of Global Blue in February marked a significant move with an enterprise value of about $2.5 billion, enhancing the company's unified commerce capabilities worldwide.
- Outgoing Shift4 CEO Jared Isaacman described the Smartpay deal as transformative, enabling the company to excel in unified commerce globally.
- In the realm of point-of-sale payments, providing a smooth payment experience at large events remains a challenge, with increased demand for quick and personalized transactions to satisfy customer preferences.
- Consumers increasingly seek faster, more personalized, and frictionless experiences at each touchpoint, with a preference for self-service options like ordering directly from their seats, as highlighted by PYMNTS Intelligence.
- Tom Lapham, senior vice president of Cheq at Cantaloupe, emphasized the shift towards quicker service and enhanced customer satisfaction by offering self-service options in large venues.
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Massivelyop
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Blue Protocol Star Resonance ties down July 17 release date in China followed by global launch this year
- Blue Protocol Star Resonance, initially cancelled in Japan, is set for a global launch under Tencent.
- The mobile and PC version is being developed by Shanghai Bokura Network Technology and published by A Plus Japan.
- The game is confirmed to arrive on PC through Steam and EGS sometime this year.
- The MMORPG is scheduled for a release in China on July 17th, as announced in a new trailer posted on BiliBili.
- Japanese voice actors have been confirmed for the title.
- The game's producer, Dai Yi, mentioned challenges in making Star Resonance and promised improvements to the core experience and infrastructure while still aiming for a 2025 global launch.
- The game is described as a full anime MMORPG with a typical tank/healer/DPS group trinity.
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Medium
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426
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Investing in Climate: What We Can Learn from Lowercarbon Capital and Breakthrough Energy Ventures
- Lowercarbon Capital and Breakthrough Energy Ventures are prominent investors in the impact/climate space, managing over $5.5 billion collectively.
- LCC invests globally across software and hardtech startups, while BEV, founded by Bill Gates, focuses on technologies to remove >0.5 Gt CO₂/year.
- BEV operates with a long-term industrial investor approach and targets various sectors including energy, manufacturing, and transport.
- The article discusses trends in the energy vertical, emphasizing energy management, renewables, energy storage, and fusion as key areas of focus.
- Renewables, once a major focus, are still crucial but considered more mature, with a shift towards energy storage as the next frontier.
- Fusion, though high-risk, offers vast sustainable power potential with significant investments from LCC and BEV.
- BEV backs moonshot technologies like fusion, focusing on high-CAPEX R&D infrastructure tech, while LCC pursues a hybrid model balancing short and long-term plays.
- The article highlights the importance of blending software-led energy optimisation with high-potential hardtech investments for scalable climate solutions.
- Both LCC and BEV support startups that combine technical ambition with market scalability, aiming to build a sustainable future.
- The article provides insights into how investors like Breega are shaping their climate strategies based on the approaches of LCC and BEV.
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TechCrunch
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Japanese shipping firm NYK acquires Kadmos, a salary payment platform for seafarers
- Japanese shipping company NYK Line is acquiring the salary payment platform Kadmos for seafaring workers to expand its fintech services in the maritime sector.
- The financial terms of the acquisition deal between NYK Line and Kadmos were not disclosed, with the completion expected in the coming weeks.
- Kadmos, founded in 2021 by MIT alumni, aims to provide affordable and transparent salary transfer options internationally for ship management companies.
- NYK previously launched MarCoPay in the Philippines, offering financial services to Filipino seafaring workers and obtained an Electronic Money Issuer license.
- NYK plans to integrate Kadmos into MarCoPay to offer payroll solutions to seafaring workers globally, leveraging Kadmos' reach and MarCoPay's advantages.
- Kadmos intends to expand its services to include cross-border payments and corporate cards, targeting the cruise industry and additional financial services for shipping companies.
- Kadmos' team will remain with the company, and slight management structure adjustments are planned.
- Among digital payment platforms for maritime companies like MarTrust and ShipMoney, Kadmos differentiates itself with cashless features and flexible pricing.
- Kadmos recently secured a $29.5 million Series A funding round in 2022, bringing its total raised capital to $38 million, with over 40 enterprise customers.
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Inc42
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Meesho Completes Reverse Flip To India: Report
- Meesho has completed its process of reversing back to India after receiving approval from NCLT.
- The startup's board passed a resolution to merge its US-based entity Meesho Inc with its India entity.
- 406.99 Cr shares have been transferred to the shareholders of Meesho Inc in a ratio of 60 equity shares to 1 common stock.
- Additionally, shares have been transferred to Meesho founder Vidit Aatrey.
- Meesho's headquarters shift aligns with its business operations predominantly based in India.
- The company is liable to pay around $300 Mn in taxes for shifting its headquarters from the US.
- Meesho is set to file its draft red herring prospectus (DRHP) for an IPO after the domicile shift.
- The startup aims to raise between $700 Mn to $800 Mn from the IPO.
- Citigroup, Kotak Mahindra Capital, and Morgan Stanley will be the investment bankers for Meesho's IPO.
- Meesho has converted into a public company and changed its legal name to 'Meesho Limited'.
- In January, Meesho raised $250 Mn to $270 Mn funding with investors like Tiger Global and Think Investments.
- The IPO filing is expected to happen in a few weeks via the confidential route.
- Meesho is set to file its IPO papers soon. The startup has roped in investment bankers like Citigroup, Kotak Mahindra Capital, and Morgan Stanley.
- Meesho has completed the necessary process to convert into a public company before the IPO.
- The startup raised significant funding in January with new investors joining the cap table.
- Meesho's reverse flip to India has been completed according to ET reports.
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ISN
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22
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Zerodha’s Nikhil and Nithin Kamath acquire Rs 250 crore stake in InCred Holdings
- Nithin and Nikhil Kamath, co-founders of Zerodha, have acquired a Rs 250 crore stake in InCred Holdings, the parent company of InCred Financial Services Ltd.
- This investment precedes InCred Finance’s anticipated IPO valuing the company at $1.8 billion to $2.5 billion, aiming to raise Rs 4,000–5,000 crore.
- The Kamath brothers' investment reflects support for India’s evolving credit ecosystem towards formality, digitization, and accessibility.
- Nikhil Kamath highlighted InCred Group's strong team, technology-forward approach, and grasp of market trends as key reasons for the investment.
- Founded in 2016 by Bhupinder Singh, InCred has expanded into a diversified NBFC involved in consumer, SME, and education lending.
- InCred's competitive advantage lies in its proprietary risk analytics, profound data science integration, and fully digital operations.
- InCred Group consists of InCred Finance (NBFC), InCred Capital (wealth and investment banking), and InCred Money (mutual fund distribution and investment advisory).
- InCred Finance has raised over $370 million to date, including a $60 million Series D funding round that elevated it to unicorn status.
- InCred Capital recently secured $50 million for its capital markets and advisory segment from family offices.
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Inc42
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25
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EKA Mobility Bags INR 200 Cr From Enam Holdings
- Pune-based EKA Mobility raises INR 200 Cr from Enam Holdings to expand manufacturing capacity.
- Funding round confirmed by EKA Mobility's founder Sudhir Mehta; Enam Holdings did not respond to queries.
- Report suggests fundraise will elevate EKA Mobility to unicorn status based on internal targets.
- Capital to be used for expanding existing e-bus manufacturing in Pune and setting up new facility in Madhya Pradesh.
- EKA Mobility was founded in 2022 and manufactures e-buses and electric small commercial vehicles.
- Current e-bus manufacturing unit in Pune aims to double capacity to 500 units per month by FY26.
- Initial capacity of 2,000 vehicles per month at SCV and electric truck facility in Chakan.
- Upcoming facility in Madhya Pradesh to have initial capacity of 5,000 e-buses per year.
- EKA claims order book of 3,000 e-buses and 1,000 SCVs.
- Operating revenue for FY24 jumped to INR 53 Cr, but net loss also increased to INR 32 Cr.
- Previous funding round of INR 200 Cr from Mitsui and Co. Ltd. in 2023; included commitments from VDL Groep and Pinnacle Industries.
- EKA to deploy capital for scaling manufacturing, expanding products, and meeting capex needs.
- Government push for EV adoption in commercial mobility; schemes like PM-E Drive support electric buses and trucks.
- India's EV market projected to be a $132 Bn opportunity by 2030.
- EKA Mobility's funding development reported by YourStory and Inc42 Media.
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Inc42
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PhonePe To File Draft Papers For $1.5 Bn IPO By August
- Walmart-owned fintech major PhonePe is set to file draft IPO papers to raise $1.5 billion, valuing the company at $15 billion.
- PhonePe has chosen Kotak Mahindra, Citigroup, and Morgan Stanley to lead the IPO and is expected to file its DRHP in August.
- The IPO marks a 25% increase from its last private valuation of $12 billion attained after a $100 million investment from General Atlantic in 2023.
- PhonePe became a public company in April 2025 and shifted its domicile to India from Singapore in December 2022.
- The startup has raised a total of $2.3 billion from investors like Ribbit Capital, Tiger Global, and Tencent.
- PhonePe's IPO would be the second largest in the Indian fintech sector, following Paytm's $2.4 billion IPO.
- Several other fintech unicorns like Groww, Navi, and Pine Labs are also considering public listings.
- PhonePe's parent company Walmart is also planning an IPO for Flipkart, potentially valued between $60 billion and $70 billion.
- PhonePe remains loss-making but reported turning profitable in FY24, with an operating revenue increase of 74%.
- Despite losses, the company reported a profit of INR 197 crore in FY24, excluding ESOP costs.
- PhonePe's IPO has been in the works for years as it aims to list on the Indian bourses.
- The fintech industry in India is witnessing several companies planning IPOs to raise significant capital.
- The separation of PhonePe and Flipkart by Walmart in 2022 paved the way for their individual IPO plans.
- The public listing of PhonePe would be significant for the Indian startup ecosystem.
- PhonePe is among the leading players in India's fintech sector with significant funding backing its growth.
- Investors are closely following PhonePe's IPO process to gauge market interest in Indian fintech startups.
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Economic Times
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Swiggy GOV growth came at the cost of profitability: Prosus
- Swiggy managed to grow its business and reduce operational losses in 2024 but faced profitability challenges, according to early investor Prosus.
- The company saw a 29% year-on-year growth in gross order value (GOV) and a decrease in adjusted EBITDA loss.
- Growth was driven by food delivery and quick commerce expansion, leading to heightened competition.
- Swiggy's quick commerce arm, Instamart, expanded by adding 316 dark stores during the March quarter.
- In comparison, Zomato's Blinkit added 294 dark stores during the same period.
- March quarter results showed GOV growth with food delivery up by 18% and quick commerce by 101% year-on-year.
- Food delivery segment improved with an adjusted EBITDA margin over GMV of 2.9% by March 2025.
- Quick commerce, however, saw increased investments with an adjusted EBITDA margin over GMV declining to -18%.
- Swiggy aims for contribution breakeven in the quick commerce segment in the next 3 to 5 quarters.
- Balancing growth and cost management remains a challenge for Swiggy in the competitive quick commerce space.
- Morgan Stanley believes Swiggy can withstand quick commerce competition due to its financial strength.
- Prosus, an early investor in Swiggy, holds a 24.8% stake in the company after reducing its ownership post the listing.
- Swiggy's expansion into the travel and lifestyle concierge app, Crew, showcases its diversified efforts.
- The challenge for Swiggy lies in managing growth while ensuring sustainable cost control amidst competition.
- Swiggy's robust financials in food delivery provide support for continued investments in quick commerce.
- Prosus remains a significant investor in Swiggy, with a strategic stake in the company since 2017.
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Inc42
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Coliving Startup Truliv Gets Strategic Investment From The Times Group
- Chennai-based coliving startup Truliv receives a strategic equity investment from Bennett, Coleman & Co. Ltd (BCCL) at a valuation of INR 356.50 Cr.
- The financial terms of the deal were not disclosed.
- Truliv plans to use the investment to expand into new cities, enhance its tech platform, and enter segments like holiday homes and retirement living.
- The startup aims for an annual revenue of INR 200 Cr in the next three years.
- BCCL, also known as The Times Group, is a Mumbai-based media conglomerate with major brands like The Times of India and The Economic Times.
- Truliv reported a revenue of INR 15.55 Cr and a net loss of INR 3.4 Cr as per the financials for the year ended March 31, 2024.
- The strategic investment from BCCL will help Truliv expand its presence and enhance technology solutions according to cofounder Ranjeeth Rathod.
- Founded in 2019, Truliv offers coliving spaces, raised $2 Mn in seed funding, and plans to expand to cities like Bengaluru, Pune, and Hyderabad.
- Truliv competes with other coliving startups like Stanza Living, Colive, Zolo Stays, and NestAway.
- Investors are interested in coliving startups due to their growth potential driven by changing lifestyle preferences.
- Coliving investments are seen to offer higher returns than traditional real estate with increased occupancy rates and scalable models.
- In a report by Colliers India, the coliving sector is expected to grow 5X from INR 4,000 Cr in 2025 to nearly INR 20,000 Cr in 2030.
- Investors are showing interest in the coliving sector, with companies like Stanza Living also raising significant funds.
- Truliv aims for significant growth with the strategic investment from BCCL.
- The coliving sector in India is attracting attention due to its potential for high returns and rapid expansion.
- The news was reported on Inc42 Media.
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ISN
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Shark Tank India-featured Eat Better Co partners with Unicommerce to strengthen its operations
- Shark Tank India-featured Eat Better Co has partnered with Unicommerce to boost its e-commerce operations.
- Eat Better Co secured Rs 17 crore in a pre-Series A funding round in April 2025.
- Founded in 2020, Eat Better Co offers clean-label snacks focusing on health and taste.
- The startup aims to enhance its D2C presence using Unicommerce's solutions for order and warehouse management.
- Uniware platform will facilitate order processing across various channels for Eat Better Co.
- The warehouse management system by Unicommerce will synchronize inventory in real-time.
- Unicommerce's predictive analytics will help Eat Better Co align its offerings with consumer preferences.
- Shaurya Kanoria, Founder of Eat Better Co, expressed excitement about the partnership for streamlined operations.
- Unicommerce aims to assist Eat Better Co in meeting the needs of health-conscious customers efficiently.
- Unicommerce serves numerous brands across regions and helps streamline operations for various clients.
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Alleywatch
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The Weekly Notable Startup Funding Report: 6/23/25
- Applied Intuition raised $600.0M for software infrastructure for autonomous vehicles.
- Senra Systems secured $25.0M for manufacturing harnesses using software configuration.
- Uncountable obtained $27.0M for providing a unified R&D laboratory informatics platform.
- Profound received $20.0M for analytics and tools enhancing visibility in AI search.
- Sedai raised $20.0M for AI-powered cloud cost optimization and performance tuning.
- Onebrief garnered $23.6M for web-based military planning software.
- Mach Industries secured $100.0M for defense manufacturing and unmanned systems.
- Payabli raised $28.0M for payments infrastructure and monetization platform.
- PublicAI obtained $8.0M for a Web3 distributed AI training network.
- Juniper Square raised $130.0M for software and fund administration services.
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ISN
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Campus Fund launches $100 million fund to invest in student, college dropout-led startups
- Campus Fund, the only SEBI-registered Category II alternative investment fund for student and recent college dropout-led startups, has launched its third fund with a target of $100 million.
- The fund has achieved its first close, securing over 50% of the corpus and has started deploying capital.
- Founded by Richa Bajpai during her MBA, Campus Fund aims to democratize startup capital and nurture entrepreneurial ambition in India.
- The fund focuses on student and recent graduate founders, aiming to invest in 60 to 80 startups over four years.
- Investments range between Rs 1 crore and Rs 8 crore with half the fund reserved for follow-on rounds.
- Campus Fund has an expanding portfolio with investments in startups like Expand My Business and EtherealX.
- The fund receives over 7,000 startup applications annually and is sourced through a network of more than 100 student scouts.
- Notable backers in the fund include 360 One, Fireside Ventures, HDFC Securities, and Google early investor Asha Jadeja Motwani.
- Some startups backed by Campus Fund have raised capital from prominent global investors like Accel and a16z.
- The fund aims to seize the generational opportunity as higher education decentralizes and startup infrastructure expands to Tier 2 and Tier 3 cities.
- Campus Fund believes in the potential of student founders and views backing them as a strategic investment for the future.
- The fund's investments include sectors like B2B digital services, space situational awareness, reusable rockets, flying taxis, and online dispute resolution.
- Campus Fund has begun returning capital to investors from its earlier funds.
- Founder Richa Bajpai sees supporting student startups as a significant milestone in her career, having launched her startup from a college dorm in 2009.
- The fund has made early-stage investments in startups like Serendipity Space, which focuses on pharmaceutical processing in microgravity.
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Eu-Startups
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German startup Steuerboard raises €725k to eliminate email “ping-pong” in tax advisory firms
- German startup Steuerboard raises €725k in a pre-Seed financing round led by High-Tech Gründerfonds (HTGF) to accelerate product development and market expansion.
- Steuerboard, a Düsseldorf-based B2B SaaS platform, founded in 2023 by Matyas Heins and Jakob Brandt, focuses on innovating tax workflows by eliminating email ping-pong.
- The platform integrates AI technology to address the specialist-staff shortage in tax advisory firms, aiming to improve efficiency and transparency.
- The global tax software market was valued at €16.1 billion in 2023 and is expected to grow at a 10% CAGR through 2030.
- Germany, accounting for about 30% of the European total, represents a significant opportunity for solutions like Steuerboard in the tax management software segment.
- Steuerboard has onboarded nearly 100 tax offices and supports thousands of businesses monthly, indicating strong demand for AI-driven collaboration in Germany's tax industry.
- With the new funding, Steuerboard plans to expand its teams, enhance AI workflows, and increase its sales presence in the DACH region over the next 24 months.
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Economic Times
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972
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Incuspaze acquires Pune's Trios to expand co-working biz
- Managed office space provider Incuspaze acquires Pune-based co-working firm Trios in a cash and stock deal.
- The deal value was not disclosed by the company.
- Incuspaze, established in 2016, operates in over 50 locations across 18 cities covering 40 lakh square feet.
- Trios, founded in 2017, manages 12 co-working centres in Pune and Gurugram.
- Incuspaze aimed at addressing the rising demand for flexible workspaces in Pune through the acquisition.
- Sanjay Choudhary, Incuspaze's CEO, foresaw a 10-15% increase in revenue after the acquisition, targeting Rs 350-400 crore by 2025-26.
- The acquisition is viewed as a strategic and cultural fit by Incuspaze, enhancing its regional presence and operational efficiency.
- The founders of Trios will have extended roles in Incuspaze post-acquisition to aid in the integration process.
- Customers from both firms can expect a seamless transition with improved services and pricing model remaining unchanged.
- Sanjay Chatrath, Incuspaze's cofounder, emphasized the move towards creating a nationwide network of top-notch flexible workspaces.
- FlexLeaze, a new initiative by Incuspaze, offers comprehensive office leasing solutions to businesses, led by co-founder and CEO Rahul Sarin.
- Incuspaze ventures into fit-out lease services through FlexLeaze within its managed office space segment.
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