Fintech firm Paytm’s revenue from operations dropped 33.8% to Rs 1,501.6 crore in Q1 FY25 compared to Q4 FY24. The company’s overall revenue reached Rs 1,639.1 crore, including interest and gains from financial assets. Paytm’s expenses fell 8%, but losses increased 52.6% to Rs 840 crore.
Tech-enabled lending platform Moneyview is close to finalizing a Series F round of $50-60 million, potentially making it a unicorn. The round, led by Apis Partners and joined by Accel Partners and Evolvence India, will push its valuation past $1 billion. Moneyview, founded by Puneet Agarwal and Sanjay Aggarwal, has raised nearly $190 million to date.
WazirX confirmed a cyber attack on its multisig wallet, resulting in losses exceeding $230 million. The attackers exploited discrepancies in Liminal’s digital asset custody interface. WazirX is working to recover the funds. Preliminary investigations indicate that North Korean hackers may be responsible. Liminal Custody claims its platform was not breached.
Lifetime Health, a digital platform for at-home care, raised $1.5 million in a seed round led by The Garage Syndicate. Co-founded in 2023, the funds will enhance development. The platform offers phlebotomy, diagnostics, medical devices, nursing care, physiotherapy, and postoperative care, aiming to expand across major Indian cities.
Electric vehicle ride-hailing startup MyPickup secured Rs 1.5 crore in seed funding led by Inflection Point Ventures. Launched in 2022 by Abhijeet Dattatraya Jagtap, the funds will develop scheduling algorithms, brand building, and optimize operations. MyPickup aims to offer zero cancellations and zero surge pricing with a fleet of electric auto-rickshaws.
AI-powered beauty and personal care platform Honestly raised Rs 3.2 crore in a pre-seed round led by Better Capital, with participation from QED Innovations and leaders from Flipkart, Polygon, and Cred. Founded by Karishma Rathaur, the funds will support the initial product launch and aim for early product-market fit.
Gen-Z focused fast fashion brand Newme raised $18 million in its Series A round led by Accel, with participation from Fireside Ventures and AUM Ventures. The funds will expand Newme’s omnichannel presence and enhance supply-chain technology. Founded by Shivam Tripathi, Sumit Jasoria, and Vinod Naik, Newme aims to open 40-50 stores in the next 12-18 months.
Eyewear retailer Lenskart raised nearly $20 million from co-founders Peyush Bansal, Neha Bansal, Amit Choudhary, and Sumeet Kapahi. The funds, issued via 695,875 CCPS at Rs 2,300 each, follow a recent $200 million secondary deal. Lenskart, valued over $5 billion, operates 2,500 stores, generating significant revenue growth.
Kalpavriksh Fund, managed by Acorn Fund Consultants, exited its investment in The Ayurveda Experience (TAE) with over 6x returns. Kalpavriksh invested in TAE in 2018 and participated in follow-on rounds. Founded by Rishabh Chopra, TAE serves 1.38 million customers and recently raised $27 million in Series C funding.
Dharana Capital, an offshoot of Vy Capital, purchased $50 million in secondary shares from Urban Company employees, early investors, and founders as part of a $63 million secondary round. Following the transaction, Dharana’s founder Vamsi Duvvuri will join Urban Company’s board. Urban Company operates in 62 cities and has a network of over 55,000 service professionals.
