Brij Bhushan, co-founder of Magicpin, has joined Prime Venture Partners as a full-time venture partner. He will contribute to the firm’s investment, portfolio management, and fundraising efforts. Bhushan brings extensive experience from his time at Nexus Venture Partners and Magicpin, where he raised over $100 million.
Online lending platform axio (formerly Capital Float) has secured $20 million from Amazon’s Smbhav Venture Fund. The funds will drive growth, scale lending operations, and expand credit products. Axio has reached $1 billion in annualized disbursals and maintains a low NPA ratio of 2-3%.
Ola Electric, recently public, has witnessed a decline in its market share among electric two-wheelers, falling from 49% in Q1 FY25 to 33% in August 2024. Despite the drop, it remains the dominant player, with competitors like TVS and Bajaj gaining ground. Ola’s shares have risen to Rs 128 post-IPO.
US Investor Baron Capital has valued Swiggy at $14.74 billion as of June 2024, a slight dip from $15.1 billion in March due to rupee depreciation. As Swiggy gears up for its $1.25 billion IPO, the company faces financial challenges, including a $1,600 crore loss in FY24’s first three quarters.
An NYC-based company specializing in attention-based media quality measurement raised $1.4M in Seed funding, led by AperiamVentures. The funds will enhance product capabilities and support global team growth. Adelaide, led by CEO Marc Guldimann, offers a platform to improve advertising transparency and optimize campaign performance for large brands.
A Redwood City-based digital health platform raised $14M in Series A funding led by Inspired Capital, with participation from Craft Ventures, Torch Capital, and others. The funds will accelerate platform development and expand its network of healthcare advocates across the U.S.
Vancouver-based Borealis secured $150M in Series A funding, led by Versant Ventures and Novartis AG. The funds will enhance their RNA medicine development. Novartis also gains an option to acquire two future programs, potentially earning Borealis up to $750M through clinical and regulatory milestones.
Ditto Insurance, founded in 2021, addresses the complexities of purchasing life and health insurance by offering personalized consultations. Backed by Zerodha, the advisory platform has served over 3 lakh customers and holds a 4.9-star rating on Google. To date, Ditto has raised Rs 34 crore ($4 million).
Angel investment platform Inflection Point Ventures (IPV) announced a full exit from ethnic wear brand Fashor, achieving a 33% IRR and 3.75x MoM in 54 months. IPV has invested over Rs 720 crore in 200+ startups and recently launched a $25 million CAT 2 VC fund, Physis Capital.
Equity investment platform InvestorAi has raised Rs 80 crore (approximately $10 million) in a Series A round led by Ashish Kacholia of Lucky Investment Managers. Founded in 2018, InvestorAi plans to use the funds to scale its business and introduce new AI-driven investment products that have consistently outperformed market indices.
