Paytm’s parent receives notice for FEMA violations

As is typical of many new age startups, one more notice for violations. The Enforcement Directorate (ED) has issued a show-cause notice to the parent company and two subsidiary companies of Paytm for allegedly violating provisions of the Foreign Exchange Management Act (FEMA). Notice is to the parent One 97 Communication limited (OCL), it’s managing … Read more

Uber auto goes subscription-based: No more commissions, cash-only rides

Ride-hailing giant Uber has announced a significant change in its operational model for auto drivers in India, shifting from a commission-based system to a Software-as-a-Service (SaaS) subscription model. As part of this transition, all auto rides booked via the Uber app will now be cash-only, effective from 18 February. A notification on the Uber app … Read more

Why Elon Musk is not the answer to US concerns over TikTok

The idea of Elon Musk as a potential buyer for TikTok may seem like the craziest development yet in the saga of the US government’s determination to ban the app. But it’s not as out-of-left-field as it sounds, and would carry its own potential harms.The world’s wealthiest man has long said he hopes to create … Read more

Zomato approves a significant QIP raise

Along with it’s Q2 FY 25 results,. Zomato’s board has approved a QIP raise. QIP is for Rs 8,500 cr Raise is to strengthen the balance sheet As per Company – “While the business is now generating cash (vis-a-vis a loss making business at the time of IPO), the company believes that it needs to … Read more

Hyundai Motor India IPO gets approval from market regulator Sebi

Hyundai Motor India has obtained approval for its initial public offering from the Securities and Exchange Board of India, according to two sources familiar with the situation.  The South Korean automaker plans to raise $3 billion at a roughly $20 billion valuation, sources previously told Reuters. This would make it the first carmaker to go … Read more

AI-led dating platform Schmooze raises $4 million series A round

Schmooze, an AI-powered meme-based dating platform, has closed its series A round of $4 million, led by Elevation Capital. The round also saw participation from angel investors, including the founders of UltraHuman, The Souled Store, Mosaic Wellness, and Paytm. Powered by over 1 billion meme interactions, the platform will use the funding to further enhance … Read more