Enkash, a corporate spend management business backed by fintech entrepreneurs Amrish Rau and Jitendra Gupta, has acquired $20 million in a new round of funding led by Ascent Capital, Baring India Private Equity Partners, and Singapore-based White Ventures. Other backers already on board Axilor Ventures and Mayfield India also took part in the investment round. The fintech firm provides a payments management platform for businesses, including corporate card issuance. The Mumbai-based firm plans to utilise the capital to expand its offerings around banking-as-a-service, scaling up its ‘plug and play’ cards…

Even as the global startup ecosystem begins to talk about a slowdown in dealmaking due to macroeconomic challenges, Indian companies raised more than $10 billion in the first quarter of 2022, up from $5.7 billion in the same time of 2021, according to Venture Intelligence statistics. Because official deal announcements often take a few months after closing, the record-breaking first quarter funding data does not account for the present downturn. A rise in US interest rates, rising geopolitical tensions as a result of Russia’s invasion of Ukraine, record-high fuel prices,…

Pixxel, a spacetech startup, has successfully launched its first full-fledged commercial satellite, dubbed ‘Shakuntala,’ using SpaceX’s Falcon-9 rocket, which is run by Elon Musk. ‘Shakuntala,’ Pixxel’s first fully-fledged satellite, hosts one of the highest resolution hyperspectral commercial cameras ever flown to orbit, putting the company one step closer to developing a 24×7 health monitor for the globe, according to the company. This launch, which took place on Friday on SpaceX’s Transporter-4 mission from Cape Canaveral, Florida, gets the business closer to completing its ambitious aim of assembling one of the…

GarageWorks, a Pune-based technology-enabled B2C startup that provides two-wheeler servicing to customers through a convenient at-home process, announced that it has raised $1 million (Rs 7.5 crore) in a pre-Series A funding round led by Hiten Shah, Gowri Narayanan, Ram Trichur, Fred Towfigh, Abhijeet Kumar, and Munendra Singh (ex-founders of BB Daily). Following an initial angel round, this is the company’s second round of funding. Dr. Aniruddha Malpani, Pawan Sharma (ex-CEO of KPIT Technologies), Gautham Radhakrishnan, and Gaurav Malhotra were among the existing investors who took part in this round….