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Yourstory
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FirstCry subsidiary GlobalBees invests Rs 4.5 Cr in Dynamic IT Solution
- FirstCry subsidiary GlobalBees has invested Rs 4.5 crore in Dynamic IT Solution Private Limited.
- GlobalBees has acquired a 24% stake in Dynamic IT Solution.
- Dynamic IT Solution is involved in the design, development, and trade of software and sports & fitness products.
- GlobalBees previously raised Rs 150 crore in a debt round from Avendus.
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VIE Stories
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Peak XV’s Surge Includes 14 Startups for Tenth Cohort
- Surge has announced the launch of Surge 10, featuring 14 innovative companies in various sectors.
- The program now includes over 350 founders, 150 startups, and spans 17 sectors across 10 cohorts.
- Surge 10 companies include Amaani, Ambak, Auquan, Brainfish, Clout Kitchen, Dezy (Smiles.ai) – Dental, made easy., Dubbing AI, OrbitShift.AI, Parseable, SalarySe, Tailcall, TheHealthFactory & Wobot AI.
- Surge offers a community of outstanding founders, company-building courses, international immersion tours, and up to $3 million in seed funds.
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Dev
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How to Use Cursor AI in Best Way?
- Plan Before Coding: Create a clear plan using Cursor's V0 mockups before writing any code.
- Leverage ChatGPT for Project Planning: Use ChatGPT to help with project requirements, database design, and color palettes.
- Use cursor.directory for Better Prompts: Customize Cursor's tech-specific prompts to make AI responses more accurate.
- Tag Relevant Docs: Sync official documentation into Cursor to ensure up-to-date and accurate answers.
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Inc42
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199
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Paytm Slumps 6% After Clocking INR 930 Cr Profit In Q2
- Shares of Paytm slumped 6% after announcing its Q2 earnings.
- Paytm reported a consolidated profit of INR 930 Cr in Q2 FY25, compared to a loss of INR 292 Cr in the year-ago period.
- The profitability was driven by a one-time exceptional gain of INR 1,345 Cr from the sale of its entertainment ticketing business to Zomato.
- However, Paytm's operating revenue declined 34% YoY, but increased over 10% sequentially due to growth in payments and financial services business.
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Inc42
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Phi Commerce Launches Platform For Lenders To Streamline Payments Across Multiple Channels
- Payment solutions provider Phi Commerce has launched CollectiPhi-360, a platform for lenders to streamline payments across multiple channels.
- The platform enables lenders to manage automated, doorstep, offline, partial, and bulk collections, ensuring streamlined and efficient processes.
- CollectiPhi-360 also offers analytics and dashboard features for data-driven decision making.
- Phi Commerce plans to expand overseas and is in discussions for a fresh funding round.
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Yourstory
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Paytm swings to profit in Q2 FY24, driven by ticketing biz sale to Zomato
- Paytm reported a profit of Rs 930 crore in Q2 FY24, driven by the sale of its ticketing business to Zomato.
- Parent company One 97 Communications saw a 10.51% rise in revenue from operations in Q2 FY24.
- Total income rose 11.89% to Rs 1,834 crore in Q2 but decreased by 31.09% from the previous year.
- Paytm plans to pick up inactive devices to reduce capital expenditures and increase the active merchant base.
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Yourstory
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UPI Wallets vs UPI: Why Choosing Wallets for Small Payments is a Wise Move?
- UPI Wallets offer enhanced security by providing a layer of protection between your bank account and the transaction.
- UPI Wallets eliminate the hassle of failed transactions and overdrafts, ensuring seamless small payments.
- UPI Wallets have their own transaction limits, making them flexible for everyday expenses.
- Using UPI Wallets unlocks rewards, cashbacks, and offers, providing incentives for smaller payments.
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Yourstory
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PhonePe Slashes Customer Support Workforce by 60%, Rides High on AI Chatbots
- PhonePe has reduced its customer support workforce by 60% over the past five years and relies on AI chatbots.
- AI-driven chatbots resolve over 90% of customer issues, improving efficiency and customer service quality.
- The shift to AI has resulted in revenue growth of 73% and improved profitability for PhonePe.
- PhonePe's move towards AI chatbots reflects industry trends and highlights the benefits of automation in customer service.
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Yourstory
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The iPhone Illusion: Unpacking India's Love for Luxury Products!
- The iPhone in India is not just a smartphone, it is a symbol of status and financial standing.
- The iPhone 16 starts at ₹79,900, but other costs such as protection, accessories, and AppleCare+ can cost between ₹10,000 and ₹20,000 more.
- Opportunity cost is the cost of what could’ve been if you didn’t spend that money on purchasing the iPhone.
- Another factor to consider is the cost per day. If you spend ₹1,00,000 on an iPhone and use it for three years, you're essentially paying Rs. 91 per day to own it.
- Apple products do retain their value, but they still decrease in value by 30-40% after a year or two.
- Owning an iPhone is a status symbol in India and can lead to the fear of missing out, also leading to debt just to keep up with peers.
- Wealthy people view money as a tool to create wealth, whereas a poor mindset often equates spending with acquiring material things to project an image of wealth.
- Ultimately, true wealth is about freedom—freedom to make choices that enhance your life experiences rather than accumulating things.
- Making informed decisions when buying is essential and will help in achieving long-term economic stability.
- In 2024, mindful spending is expected to increase, making people more conscious of the impact of purchases on both their wallet and planet.
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Hackernoon
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Top 3 Trends in the Creative Industry
- Entrepreneurs can reach their target audience by creating an exclusive circle through offline events and gatherings.
- Hybrid formats, such as satisfying multiple customer needs, can help promote a brand effectively.
- Utilizing transmedia content strategy across various platforms can enhance brand storytelling.
- Combining these trends in a personalized marketing strategy helps businesses connect with their target audience.
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Inc42
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Paytm Back In The Black With INR 930 Cr Profit In Q2
- Fintech major Paytm reported a consolidated profit after tax (PAT) of INR 930 Cr in Q2 FY25.
- The PAT includes a one-time exceptional gain of INR 1,345 Cr from the sale of Paytm's entertainment ticketing business.
- Revenue from operations fell 34% YoY to INR 1,1660 Cr, but rose over 10% sequentially.
- Paytm aims to achieve EBITDA before ESOP profitability by Q4 FY25.
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Yourstory
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Elevation Capital expands leadership team
- Early-stage venture capital firm Elevation Capital has announced the expansion of its leadership team.
- Vaas Bhaskar and Chirag Chadha have been promoted to Partners, while Ashray Iyengar has been elevated to Principal.
- Bhaskar focuses on fintech investments, while Chadha focuses on consumer tech and brands.
- Elevation Capital has invested in over 200 companies, including 14 unicorns and 9 IPOs.
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ISN
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ISN Exclusive: Blume Ventures in talks to lead Rs 35 crore round in backpackers hostel startup GoStops
- GoStops, a backpackers hostel startup, is in talks to raise Rs 35 crore in a funding round.
- Blume Ventures is likely to lead the round with an investment of around Rs 25 crore.
- The remaining amount will come from existing angel syndicates and small investors.
- GoStops aims to reach a revenue milestone of Rs 200-215 crore by the end of FY26 with the help of fresh capital.
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Gritdaily
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How Mentorship Programs Are Empowering Women in Tech
- Mentorship programs are empowering women in the tech industry by creating opportunities and addressing gender disparity.
- Mentors play a crucial role in building confidence and skills for women entering the tech industry.
- Women are making strides in software development, particularly in areas like online betting app development.
- Mentorship programs help women break into coding and software development by providing guidance and networking opportunities.
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VIE Stories
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[Funding News] AI Startup Neysa Secures $30 Mn Funding Led by NTTVC, Others
- AI startup Neysa has raised $30 million in a funding round led by NTTVC, Z47, and Nexus Venture Partners.
- The funding will be used to expand infrastructure and support R&D to democratize access to scalable AI solutions.
- Neysa offers generative AI platforms and services to help customers manage their AI projects with security.
- The company plans to target overseas markets, including the US, Europe, Japan, and the Middle East.
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