CE Info Systems, parent of MapMyIndia, reported a 5.1% revenue decline in Q1 FY25, totaling Rs 101.5 crore compared to Q4 FY24. However, year-on-year income rose 13.5%. The firm is facing legal issues with Ola Electric over data usage, amidst rising operational costs.
Rural fintech startup Jai Kisan has acquired an NBFC license through its strategic acquisition of Kushal Finnovation Capital. This license enabl Jai Kisan to offer customized credit products and co-lend with financial institution supporting over 100,000 rural businesses and facilitating over Rs 6,000 crore in disbursals.
Healthcare startup 4baseCare raised $6 million in a Series A round led by Yali Capital. The funds will enhance product offerings and support expansion across India, Asia, and the Middle East. Founded in 2018, 4baseCare provides precision oncology solutions using genomics, impacting over 10,000 cancer patients in Southeast Asia.
Wealthtech startup Infinyte.Club secured $3.6 million in a funding round led by Elevation Capital, with participation from prominent angel investors like Cred’s Kunal Shah and Meesho’s Vidit Aatrey. Founded in 2023, the Bengaluru-based platform focuses on wealth creation for tech employees, offering private investment opportunities and ESOP liquidity solutions.
E-mobility startup Kazam raised $8 million in a Series A3 funding round led by Vertex Ventures. The funds will enhance Kazam’s technology, expand its market presence, and improve platform offerings. Kazam, co-founded in 2020, builds smart EV charging networks and currently serves over 25,000 charging points across India.
Wealth and asset management firm Neo secured Rs 400 crore ($48 million) in a Series B round led by MUFG Bank and Euclidean Capital, with Peak XV Partners participating. The funds will expand Neo’s wealth management division and support its asset management business. Neo manages Rs 35,000 crore in assets.
Oyo secured Rs 1,457 crore ($175 million) in a Series G round from investors including InCred Wealth, Patient Capital, and ASK Financial Holdings. Despite the investment, Oyo’s valuation remains at $2.38 billion, down 70% from 2021. The funds will support growth, global expansion, and acquisitions.
This week, 8 growth-stage startups secured $104.8M, led by Visit Health with $30M. Early-stage funding saw 19 startups raise $9.8M. Bengaluru led city-wise deals with 11. Notable investments include ShareChat ($16M), Country Delight ($8.45M), and ShopDeck ($7.85M). Two startups, IppoPay and FlexiBees, didn’t disclose their amounts.
Seychelles-based Blockscout, an open-source block explorer for EVM-based chains, raised $3M in Seed funding led by 1kx, with contributions from Primitive Ventures, Gnosis, and several angels. The funds will enhance their product suite, improve user experience, and integrate AI-enabled tools. Blockscout serves over 600 networks, including Filecoin and Arbitrum.
Totowa, New Jersey-based Sendsprint acquired Nobel Financial Inc., expanding its ability to support money transfers from 16 US states to African countries like Nigeria, Ghana, and Kenya. Nobel Financial, founded in 2014, offers remittance services to over 32 countries and allows in-kind gifting alongside money transfers.
