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TechCrunch
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Founders, TechCrunch Startup Battlefield 200 is calling! Apply to enter!
- TechCrunch Startup Battlefield 200 applications are now live.
- Startups have the opportunity to compete against 199 other promising startups.
- The winner receives $100,000 equity-free and global exposure.
- Applications close on June 9.
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TechCrunch
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Los Angeles-based Rain raised a $75M Series B in another good sign for fintech
- Los Angeles-based startup Rain, offering an employer-integrated earned wage access (EWA) app, secured a $75 million all-equity Series B round led by Prosus, valuing the company at $340 million.
- Rain plans to introduce credit card and savings products using the new funds, aiming to assist the paycheck-to-paycheck population that has been rising in the U.S.
- With around 35% of U.S. households under $50,000 income living paycheck to paycheck, Rain's EWA app allows early access to paychecks with a small fee, avoiding high-interest loans.
- The startup focuses on attracting employers to provide automated earned wage access between paychecks, offering additional services like financial education and tax filing to differentiate itself.
- Rain, founded in 2019, has served over 2.5 million employees and distributed $2 billion in earned wages, intending to reduce EWA dependency by promoting savings and financial literacy.
- Rain caters to mid-market and enterprise clients charging an average fee of $3 per instant transaction and aims to expand beyond EWA into financial coaching, tax filing services, secured credit cards, and health savings account utilization.
- In the third quarter, Rain plans to launch an EWA-secured credit card and a product facilitating HSA spending with reimbursement, followed by saving accounts offering auto-save features and rewards later in the year.
- Despite a challenging fintech environment, Rain's Series B funding, with participants like Nextalia Ventures and Spark Growth Ventures, will fuel its growth and development into a holistic financial wellness platform.
- Unlike employee-side EWA platforms facing regulatory crackdowns, Rain focuses on financial awareness alongside EWA, positioning itself as a comprehensive financial wellness provider aiming to aid millions on the path to financial freedom.
- Rain aims to scale its go-to-market strategy by expanding the sales team, enhancing sales enablement and marketing efforts, forging channel partnerships, and improving employer convenience through tooling.
- Having previously secured a $116 million Series A funding in 2023, with a combination of equity and debt, Rain's innovative approach to financial wellness through employer-integrated EWA sets it apart in the fintech landscape.
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ISN
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Ola, Uber rival Rapido plans to launch new subsidiary for fintech operations: Report
- Bengaluru-based ride-hailing unicorn Rapido plans to launch a separate subsidiary for fintech operations.
- The new unit will operate independently from Rapido's core mobility business.
- The fintech arm is expected to focus on lending and related areas within financial services.
- Rapido aims to diversify and reduce its dependence on the ride-hailing business due to increasing competition and regulatory challenges.
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TechCrunch
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Volunteer your time for a free ticket to TechCrunch Sessions: AI
- TechCrunch Sessions: AI is offering free tickets to enthusiastic volunteers who want to be part of the event happening on June 5 at UC Berkeley.
- Volunteers will gain valuable event production experience and will receive a complimentary pass to Disrupt 2025.
- The deadline to apply for a volunteer spot is May 22.
- Companies interested in sponsoring or exhibiting at TC Sessions: AI can reach out to the sponsorship sales team.
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Killerstartups
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Bangladesh Bank announces Tk 900cr fund for startups
- Bangladesh Bank has announced a special fund of Tk 900 crore to support startups.
- The fund will be distributed through commercial banks.
- The initiative aims to promote the growth of startups in Bangladesh and foster the development of unicorns.
- The event 'Bangladesh Startup Connect 2025' highlights the startup ecosystem and its role in global investment networks.
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TechCrunch
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Meet the new Audience Choice winners to lead breakouts at TechCrunch Sessions: AI
- The Audience Choice winners for TechCrunch Sessions: AI have been announced.
- Yann Stoneman, staff solutions architect at Cohere, will speak on 'Secure Generative AI for Regulated Enterprises.'
- Hua Wang, executive director at Global Innovation Forum, will speak on 'AI Policy Playbook for Global Startups.'
- The breakout sessions will take place at TechCrunch Sessions: AI on June 5 at UC Berkeley.
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ISN
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Swiggy’s 10-minute delivery service launches new in-app feature ‘Maxxsaver’ to offer significant discounts
- Swiggy has launched a new feature called "MaxxSaver" on its Swiggy Instamart service.
- The feature offers significant discounts when the user's cart value exceeds Rs 999 and is available across all 100 cities where Instamart operates.
- Swiggy aims to make Swiggy Instamart the most affordable and convenient quick-commerce destination with this new feature.
- The move is a response to the success of rival Zepto's SuperSaver feature and the industry-wide trend of increasing cart sizes.
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Yourstory
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With double-digit hikes, CEO pay in India stands at Rs 10 Cr: Deloitte survey
- The median compensation for non-promoter or professional CEOs in India now stands at Rs 10 crore, up 13% over the previous year.
- Short-term incentives or annual bonuses comprise 25% of total CEO compensation and long-term incentives constitute the balance of 35%.
- The pay for other CXOs like COOs, CFOs, CHROs, CMOs and CSOs over the last year saw an increase, ranging between 7 to 11%.
- CEO and CXO tenures are getting shorter, performance expectations and shareholder activism are rising, leading to more upward pressure on pay and benefits, and heavily negotiated executive contracts.
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Alleywatch
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The 16 Largest NYC Tech Startup Funding Rounds of Q1 2025
- The top NYC startup funding rounds for Q1 2025 include SeeQC securing $30.0M in a Series A round for quantum computing systems.
- Viam, a robotics company, raised $30.0M in a Series C round for cloud-based smart machine management.
- Hone Health, an online clinic platform for men, received $33.0M in a Series A round.
- Air, a Creative Operations System, secured $35.0M in a Series B round for marketing and creative teams.
- Inspiren, a healthcare tech company using AI for patient care, raised $35.0M in a Series A round.
- Slingshot AI raised $40.0M in a Series A round for its cloud-based platform for managing machine learning models.
- Clay, providing creative tools for growth teams, secured $40.0M in a Series B round.
- Recycle Track Systems, offering waste management solutions, raised $40.0M in a venture round.
- Campus, an online college offering degrees, received $46.0M in a Series B round.
- Norm AI, automating legal tasks, secured $48.0M in a Series B round.
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Futurefundraisingnow
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100 ideas for better arts fundraising
- Arts fundraising has a unique challenge as it doesn't save lives or address immediate needs.
- Most arts donors are primarily motivated by their love for the art form and personal benefits.
- To encourage donations, emphasize the meaningful impact of the arts on individuals.
- A new resource from Culture for Hire provides customer-centric marketing prompts for the arts.
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Inc42
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Inc42 & Oracle Bring 30+ Tech Leaders Together For A Deep Dive Into GenAI Adoption & Cybersecurity
- Inc42 and Oracle recently hosted The CTO Dinner in Bengaluru, bringing together more than 30 tech leaders from various industries.
- The event focused on GenAI adoption, its impact on software development, customer experience, and operational efficiencies.
- The importance of building secure GenAI infrastructure was highlighted, given the increased vulnerability to cyberattacks.
- The homegrown GenAI market is projected to exceed $17 billion by 2030, indicating its significant growth and potential.
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Yourstory
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Mobile phone exports surpass Rs 2 L Cr in FY25, powered by iPhone shipments, says Vaishnaw
- Mobile phone exports in the 2024-25 financial year surpassed Rs 2 lakh crore, with iPhone shipments contributing about Rs 1.5 lakh crore.
- Smartphone exports witnessed a growth of 54% over the previous fiscal year.
- Electronic manufacturing and exports in India have increased significantly in the last 10 years.
- The government is issuing a draft notification for a passive component scheme and is working on the evaluation of AI-Large Language Model applications.
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Startup Pedia
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This AI-powered Hiring App Offers Instant Matches Between Recruiters And Candidates
- Monkify.ai, an AI-powered hiring platform founded in 2023 by Austrian entrepreneurs Gregor Reitinger, Patrick Ranner, and Leon Hartl, aims to revolutionize the recruitment industry in India.
- The startup leverages AI and blockchain technology to streamline hiring processes for recruiters and candidates, offering features like smart contracts, instant matches, and data protection.
- Monkify.ai's Profile Setup Wizard reduces setup time by 40% and provides AI-driven job posting templates for recruiters.
- Addressing user feedback, the platform enhanced its NLP models with BERT for improved accuracy in candidate matches.
- Clients of Monkify.ai include Renold, SPS, Wikilabs, UnboundB2B, Veract, JustDial, and HRMind, with reported improvements in hiring efficiency and match quality.
- The startup plans to introduce a blockchain-based resume verification system and provide data-driven hiring insights to clients.
- With aspirations to expand into the Middle East and Southeast Asia, Monkify.ai aims to become the leading AI-powered hiring platform globally.
- The founders believe that AI is the future of recruitment, offering companies a competitive edge in hiring practices.
- Monkify.ai's vision focuses on data safety, efficiency, and global growth, positioning them as a key player in the evolving recruitment landscape.
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Startup Pedia
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Aman Gupta-led boAt-parent Imagine Marketing Attempts to Go Public for the 2nd Time; Files Draft Papers for IPO
- Imagine Marketing, the parent company of boAt, has filed draft papers for its second attempt to go public.
- The company aims to capitalize on improved market conditions and investor confidence in India's consumer tech sector.
- The filing is for funding expansion plans, strengthening R&D capabilities, and diversifying product portfolio.
- Despite a 5% dip in revenue in FY24, Imagine Marketing hopes to benefit from the growing momentum in India's IPO market.
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SiliconCanals
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British AI infrastructure startup NexGen Cloud raises €41.1M: Know more
- NexGen Cloud, a British AI infrastructure startup, has raised €41.1M in a Series A funding round, bringing its post-money valuation to €323.36M.
- The funding will be used to expand the company's capacity globally, with a focus on offering sovereign capabilities in Europe and other regions.
- NexGen Cloud provides enterprise AI cloud solutions, including Private Clouds and the Hyperstack platform, which enables partner companies to deliver AI computing power.
- The company plans to develop partnerships, expand infrastructure services, and introduce new AI products to support integration across the development cycle.
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