Bombay Play, a hyper-social gaming platform, has secured $7 million in a round headed by Kalaari Capital. Lumikai Fund, Leo Capital and PlayCo, AdvantEdge VC, and AMEA Ventures all participated in the round, as did online gaming platform Winzo. The fresh funds will be used to expand the company’s existing “hyper-social” game offerings, support prospective ventures, and allocate cash to product development. The Bengaluru-based startup, founded in 2018 by Oliver Jones and Abhas Saroha, employs 50 individuals. By the end of 2023, it intends to double its workforce. Bombay Play…

UpGrad, an upskilling and higher learning edtech company, announced the opening of upGrad Foundation, a philanthropic and non-profit division on Monday. The foundation plans to focus on a variety of working professionals, including first-generation students, women returning to the workforce, and those in the public sector or the military forces, with a capital of Rs 50 crore. “LifeLongLearning, upskilling, and career enhancements can no longer be the right of only those who can afford it. Online learning has changed the perspective of all working professionals around the world and how…

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,…