FutureTech

TheMathCompany, a data analytics and data engineering firm, has approved the buyback of shares for existing shareholders, including the firm’s co-founders. According to TheMathCompany’s regulatory filings with the MCA, all existing shareholders who will participate in the buyback will receive an issue price of Rs 155.32 per share, aggregating up to 93.2 crore or $12.5 million for 60 lakh equity shares and constituting 24.82 percent of the total equity up and free reserve of the company. According to the filings, the buyback is open to all current shareholders on a…

Nextspeed Technologies Pvt. Ltd, which operates fintech platform Swipe, on Friday said it has scooped up $2 million (around Rs 15 crore) as a part of its seed funding led by Y Combinator. The round also saw participation from a host of investors including Cred Founder Kunal Shah, Global Founders Capital, Soma Capital, Locus Ventures, Duro Ventures, K3 Diversity Ventures, Lish Lee Jung, among others. The startup said that it plans to use the fresh funds to touch over India’s one million businesses by the end of 2022. It also…

As new-age companies, flush with money, continue to hire, many of them are looking for senior talent outside of India. Expansion into new geographies, especially for companies with a strong product-market fit, as well as a search for more developed skills in emerging technologies like blockchain, artificial intelligence, and machine learning, according to headhunters, are the driving forces behind this hiring. Hiring is primarily taking place in areas such as technology, product, design, and data science, where there is a talent shortage in India. Classplus, an edtech firm, is looking…

Spinny, a used car retailing platform based in Gurgaon, announced today that it has purchased a 100 percent stake in Scouto, an AI-powered car connectivity solutions startup, for an undisclosed sum. The deal, according to the company, will be one of the first in the AI-powered used car solutions segment, where Spinny is aiming to be the market leader. Spinny made the announcement nearly two months after raising an undisclosed amount of money from former cricketer Sachin Tendulkar. Scouto claims to have built an end-to-end connected car technology suite that…

Indian startups raised more than $7 billion in funding in the fourth quarter of 2021 (October-December), up 18% from the third quarter, and 14 of these companies joined the ever-growing unicorn club according to a Nasscom-PGA Labs report. Unicorns are privately held companies with a market capitalization of $1 billion or more. According to the report, the number of deals closed in the October-December quarter increased by 52 percent to 184, up from 121 in the previous quarter. Fintech and retail tech were the most well-funded sectors, accounting for 24%…

Binny Bansal, a cofounder of Flipkart, has led a new $25 million investment round in his own startup, xto10x Technologies, which is a scaling platform for growth-stage companies, according to a statement released by the company on Wednesday. Swiggy cofounder Harsha Majety, Meesho cofounder Vidit Aatrey, Razorpay founders Harshil Mathur and Shashank Kumar, and Cred founder Kunal Shah were among the 28 founders and executives who participated in the funding round from India and Southeast Asia. According to the company, the funds will be used to expand learning programmes, software…

Gurugram-based Y Combinator, Java Capital, and Soma Capital led a $1 million pre-Seed funding round for Better Opinions, a skill-based gaming startup that allows users to trade their opinions on the outcome of a real-life event. Mayank Kumar (Co-founder of UpGrad), Sudhanshu Raheja (Head of Product and Engineering, GoTo Financials, Gojek-Tokopedia), Pratyush Prasanna (SVP, Gojek), Chinmaya Sharma (Chief Commercial Officer Namshi), and the Ranadive Family, co-owners of the Sacramento Kings, all participated in the round. In 2021, Soumyajit Das and Samay Jain co-founded the company. Better Opinions allows users to…

Wealthy.in, a wealth management platform based in Bengaluru, today announced the completion of a $7.5 million Series A funding round led by Alpha Wave Incubation (AWI) and Savrola Group. Existing investors such as Venture Highway, Good Capital, and Emphasis Ventures also participated in the round. Alpha Wave Global manages AWI, which is backed by ADQ’s venture platform (formerly known as Falcon Edge Capital). Wealthy.in, founded in 2015 by Aditya Agarwal and Prashant Gupta, allows professionals to grow wealth for investors through its Wealth Management platform. Around $450 million in assets…

Cion Digital, a SaaS blockchain orchestration platform based in the United States, announced the opening of its first office and R&D centre in Pune. This year, the company plans to invest Rs 50 crore and hire over 100 engineers with experience in blockchain technology. Cion Digital focuses on crypto financing and payment solutions, and in January 2022, it raised $12 million in seed funding. “A recent report by crypto exchange, CrossTower, and US-India Strategic Partnership Forum (USISPF) mention that India will hold $1.1 trillion digital asset opportunity by 2032 and…