Artificial intelligence optimization startup LLUMO AI secured $1 million in seed funding led by SenseAI Ventures. The funds will support its expansion into the US market and the development of an enterprise-grade platform. LLUMO helps businesses cut Generative AI costs by up to 80% using proprietary models.
Micro venture capital firm Volt VC has launched its first fund, Volt VC Fund-1, with a target of Rs 45 crore. The fund aims to support 20-25 consumer-centric startups at the pre-seed stage, offering investments between Rs 50 lakhs to Rs 2 crore, along with strategic guidance and resources.
Mumbai-based fintech startup TransBnk secured $4 million in Series A funding led by 8i Ventures. The funds will support expanding its banking network, entering new markets in the Middle East and Southeast Asia, and enhancing its technology. TransBnk has seen rapid growth, partnering with over 25 banks and processing 50 million transactions.
Ola Electric introduced the Roadster X and Roadster motorcycles in India, with prices starting at Rs. 74,999 for the entry-level Roadster X. The bikes offer different battery options, with ranges up to 248km and 0-40kmph acceleration in as fast as 2.2 seconds for the Roadster.
Bengaluru-based Even Healthcare secured Rs 169 crore ($20 million) in new funding, led by Khosla Ventures. This round, coming after 20 months, boosts the company’s valuation to Rs 753 crore ($91 million). Even offers subscription-based healthcare plans, covering diagnostics, consultations, and hospitalization, with personalized care programs.
Shivank Agarwal and Mohd Amir, co-founders of Mitron TV and TrainMan respectively, have launched Callmatic, a conversational AI startup that automates call management for lead qualification and customer outreach. The Bengaluru-based company has raised $100,000 from angel investors and offers AI-driven solutions for recruitment, sales, and customer support.
Mobility startup Rapido has achieved unicorn status after raising $120 million in a Series E round led entirely by WestBridge Capital. The funding, detailed through regulatory filings, values Rapido at approximately $1.02 billion. The funds will support the company’s expansion and growth initiatives.
BharatPe has introduced secured loan facilitation for its merchant partners, offering two-wheeler loans up to Rs 2.5 lakh and loans against mutual funds up to Rs 1 crore. Partnering with OTO Capital and Volt Money, BharatPe plans to expand its loan offerings over the next three months to better serve its merchants.
ReshaMandi has laid off its entire workforce, and its website has been down for a week, signaling the end of the Creation Investments-backed firm. The company has faced corporate governance issues, revenue inflation, and mounting liabilities. Amid financial woes, its auditor resigned, and several CFOs have left the firm.
MobiKwik bounced back in FY24 with a 62% revenue jump to Rs 875 crore and achieved profitability after an Rs 84 crore loss in FY23. The fintech’s strong performance, driven by increased lending and payment gateway growth, enhances its IPO prospects. Total costs also rose by 36.4% during the period.
