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Astrotalk Appoints Former Google Executive Siddharth Prakash Singh As CTO
- Astrotalk has appointed Siddharth Prakash Singh as its first CTO.
- Singh will work closely with the founders to bring technological innovations to the company.
- He has over 14 years of experience, previously working with Google and Adobe.
- Singh's responsibilities include building infrastructure, enhancing AI/ML, and preparing the platform for new business opportunities.
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ISN
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Astrology startup AstroTalk's profit jumps 1000% to Rs 100 crore in FY24
- AstroTalk, a digital astrology consultancy startup based in Noida, has reported a 1,000% increase in profits for FY24, reaching Rs 99.99 crore.
- The company's revenue from operations rose by over 100% to Rs 651.12 crore in FY24, with domestic income doubling to Rs 529.6 crore and revenue from overseas markets increasing 4.2 times to Rs 121.44 crore.
- AstroTalk's total expenses increased by 97.9% to Rs 531 crore in FY24, with key contributors including employee benefit expenses and advertising and promotional costs.
- In June, AstroTalk raised $9.5 million in an extension of its Series A funding round, bringing its post-money valuation to $300 million.
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Inc42
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Flipkart Arm Ekart’s Loss Widens Over 5X To INR 1,718 Cr in FY24
- Flipkart’s logistics arm Ekart reported a net loss of INR 1,718.4 Cr in FY24, a more than 5X increase from the previous year.
- Revenue from operations declined by 5% to INR 12,115.3 Cr in FY24.
- Total expenses rose by over 6% to INR 14,149.4 Cr in FY24.
- Ekart operates more than 7,000 trucks, over 70 fulfilment centres, and 3,500 last-mile delivery hubs.
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Inc42
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Info Edge’s Q2 Profit Declines 64.6% To INR 85 Cr
- Info Edge reported a 64.6% decline in net profit to INR 84.73 Cr in Q2 FY25.
- Revenue from operations increased nearly 12% to INR 700.82 Cr.
- Total expenses surged to INR 492.11 Cr in the reported quarter.
- Info Edge operates across sectors such as recruitment, real estate, matrimony, and education.
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Inc42
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Furlenco’s FY24 Operating Revenue Declines 10%, Net Loss Down 2.3%
- Furniture renting startup Furlenco reported a 10.4% decline in operating revenue in FY24.
- The company's total revenue, including other income, declined 3.54% during the same period.
- However, Furlenco managed to reduce its consolidated net loss by 2.3% in FY24.
- The startup demonstrated cost management across major expense categories in FY24.
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Inc42
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WAAYU Takes Its Services To Hyderabad, Secunderabad
- Zero-commission food delivery platform WAAYU has launched its services in Hyderabad and Secunderabad.
- The startup aims to collaborate with over 3,000 restaurants to serve consumers without extra charges.
- WAAYU has joined the ONDC and is working with buyer apps such as TATA Neu and OLA to generate higher order volumes.
- The Pune-based startup already has a network of 3,000 restaurants across multiple cities.
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Inc42
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Ola Electric Q2 Loss Narrows 5.5% YoY To INR 495 Cr
- Ola Electric narrows its net loss by 5.5% to INR 495 Cr in Q2 FY25 compared to the year-ago quarter.
- However, the loss widened by almost 43% from the preceding June quarter.
- Operating revenue increased by 39% to INR 1,214 Cr in Q2 FY25.
- Revenue is generated solely from the sales of escooters, with the Ola S1 Pro model earning the highest amount of revenue.
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VIE Stories
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Venture Fund Yali Capital Invests in C2i Semiconductors
- Stealth-mode chip design company C2i Semiconductors has received a $4 million investment from deeptech venture fund Yali Capital.
- Yali Capital focuses on investments in AI, robotics, genomics, chip design, smart manufacturing, aircraft, and surveillance.
- Yali Capital aims to contribute to the development of a vibrant chip design ecosystem in India.
- Yali Capital has set a funding goal of INR 500 crore and has established a GIFT City vehicle.
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Inc42
6d
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BlackBuck Cuts Q1 Loss To INR 28.6 Cr, Revenue Soars 55% YoY
- Logistics startup BlackBuck reduces Q1 loss to INR 28.6 Cr, revenue increases 55% YoY
- Net loss declined over 20% YoY, from INR 35.93 Cr to INR 28.67 Cr
- Revenue from operations jumps nearly 55% YoY, from INR 59.46 Cr to INR 92.16 Cr
- Overall expenses reduced to INR 91.52 Cr in Q1 FY25, a 6.2% decline
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Inc42
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Razorpay’s FY24 Profit Jumps 4.5X To INR 34 Cr
- Bengaluru-based fintech unicorn Razorpay reported a profit of INR 33.5 Cr in FY24, a 365% jump from the previous year.
- The increase in profit is attributed to the rise in operating revenue, which grew by 9% to INR 2,475 Cr in FY24.
- Razorpay earns most of its revenue from payment commission fees, generating INR 2,068.1 Cr from payment aggregation services in FY24, which accounted for 83% of its total operating revenue.
- The startup's total expenditure in FY24 stood at INR 2,454.3 Cr, with hosting charges being the largest expense, followed by employee costs and legal professional charges.
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VIE Stories
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Wealthtech Platform Nivesh Acquires Wealthzi
- Wealthtech platform Nivesh has acquired wealth management portal Wealthzi for an undisclosed amount.
- The acquisition will allow Nivesh to offer comprehensive financial and insurance-related options to its clients.
- The merger aims to increase Wealthzi's products across client categories and leverage Nivesh's technological infrastructure.
- The agreement will also facilitate operational cooperation and remove overlapping expenses.
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Inc42
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Juspay Trims Net Loss To INR 97.54 Cr In FY24
- SoftBank-backed SaaS startup Juspay's net loss trimmed 7.7% to INR 97.54 Cr in FY24.
- The company recorded a 49.6% rise in operating revenue for the year under review at INR 319.32 Cr.
- Total expenses climbed 29.5% to 443.74 Cr in FY24, with employee expense benefits being the highest expense.
- Juspay is a payment gateway and full-stack digital payments SaaS platform serving various sectors.
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ISN
6d
1.1k
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Agentic AI platform Pulse raises $1.4 million in a seed round led by Endiya Partners
- Agentic AI platform Pulse has raised $1.4 million in a seed funding round led by Endiya Partners.
- The funding will be used to strengthen the team, enhance the platform's development, and support go-to-market strategies.
- Pulse aims to bridge the gap between customer feedback and product development in the SaaS industry.
- The platform captures and processes customer feedback to help product teams make data-driven decisions more efficiently.
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Pymnts
6d
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Visa and Tencent to Launch Pay-by-Palm Solution in Singapore
- Visa and Tencent partnered to launch a pay-by-palm solution in Singapore.
- The collaboration combines Tencent's palm recognition technology and Visa's payment token.
- The pay-by-palm service will begin with a pilot program in Singapore involving Visa cardholders from participating banks and a café called Alchemist.
- Participants will enroll by tapping their Visa card, scanning their palm, and completing a one-time authentication.
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TechCrunch
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Supersonic aircraft startup Exosonic is shutting down
- Exosonic, a startup developing supersonic commercial air travel and UAV tech, is winding down after five years of operation.
- The company cited a lack of customer support and inability to sustain further advancements due to insufficient funding.
- Exosonic, founded by Norris Tie, raised over $4.5 million from venture investors and received grants from the U.S. Air Force.
- The startup made progress with test flights of its supersonic UAV but could not bridge the gap between R&D and commercialization.
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