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  • Amazon CEO Signals More Layoffs Ahead in Aggressive Cost-Cutting Push

    Amazon has alluded to additional layoffs in the upcoming years in a recent letter to its staff. In a recent letter to his staff, Andy Jassy, the CEO of Amazon, outlined a clear vision for the company’s future.

    According to the letter, there will be significant changes in the workforce as a result of the increased emphasis on artificial intelligence (AI), including possible cutbacks in corporate employment responsibilities.

    Jassy underlined how AI is used throughout Amazon’s extensive operations, pointing to its use in Alexa, shopping features, and internal operations. He described generative AI as a “once-in-a-lifetime” technical development that may open up new opportunities for businesses and consumers alike.

    Underlining the Potential of Generative AI

    While showcasing the amazing capabilities of generative AI, Jassy pointed out that such technologies are uncommon; they only come along once in a lifetime and fundamentally alter the possibilities for consumers and companies.

    As a result, Amazon is making significant investments, and its progress is clear. It is evident in the way that Amazon is introducing Alexa+, its next-generation Alexa personal assistant, which is significantly smarter and more capable and the first to be able to take important actions for users in addition to intelligently responding to almost any query.

    He went on to say that tens of millions of people worldwide use Amazon’s AI shopping assistant to find new products and make better-educated decisions about what to buy.

    Jassy continued by concentrating on how Amazon is using generative AI to improve the efficiency of its internal processes.  He added that the business is utilising generative AI extensively in all aspects of its internal operations.

    Amazon is utilising artificial intelligence (AI) in its fulfilment network to enhance demand forecasting, inventory positioning, and robot efficiency, all of which have increased delivery speed and cost to serve.

    With the help of GenAI, it has redesigned its customer service chatbot, offering an even better experience than before. Additionally, it is using GenAI to create product description pages that are more intelligent and captivating.

    Infusion of More AI Means Leaner Workforce-Jassy

    Jassy made hints about how the workforce will be impacted by the use of AI. He mentioned that Amazon will require fewer individuals to perform certain tasks than it currently does, while a greater number of individuals will be required to perform other categories of jobs.

    Although it’s difficult to predict exactly where this will end up, the company anticipates that, as it improves efficiency from implementing AI widely throughout the organisation, it will shrink its overall headcount in the coming years.

    As the company undergoes this transition, Jassy advised his staff to be curious about artificial intelligence (AI), educate themselves, attend workshops and trainings, use and experiment with AI whenever possible, take part in team brainstorming sessions.

    All these steps are necessary to determine how to innovate for Amazon’s customers more rapidly and extensively, and work more efficiently with more resilient teams.

  • FirstCry Subsidiary GlobalBees Faces Insolvency Plea Over INR 65 Crore Dues

    An insolvency plea has been filed against its substantial subsidiary, GlobalBees Brands, over claimed unpaid dues of almost INR 65 crore, according to Brainbees Solutions, the parent company of omnichannel baby products store FirstCry.

    Ashutosh Garg, Paritosh Garg, and Manju Agarwal have petitioned the National Company Law Tribunal’s (NCLT) New Delhi bench under Section 7 of the bankruptcy and Bankruptcy Code (IBC) in an attempt to start bankruptcy proceedings against GlobalBees, according to a filing made to stock markets on June 18 by Brainbees.

    The total amount requested is INR 64.92 crore, with interest at the rate of 18% per year starting on May 9, 2025.

    GlobalBees Planning to Challenge the Plea

    According to Brainbees, GlobalBees, which owns and invests in a portfolio of consumer brands that prioritise digital technology, is actively looking for legal counsel and intends to contest the plea even during the admissions process.

    In the filing, the company stated that it is impossible to determine the financial impact on the company and that it depends on how the aforementioned proceedings and any ensuing legal challenges turn out.

    Financial Dynamics of FirstCry

    According to a business filing on May 26, FirstCry recorded a net loss of INR 111.5 crore for the fourth quarter of FY25, which increased from INR 43.2 crore in the same period last year.

    In the prior quarter, FirstCry posted a loss of INR 14.7 crore. One factor contributing to the company’s losses in the March quarter was a one-time loss of INR 36.7 crore.

    Nonetheless, the loss for the entire fiscal year decreased by 18% to INR 264.8 crore in FY25 from INR 321.5 crore the year before. In Q4FY25, the company’s operating revenue increased 16% year over year to INR 1,930.3 crore from INR 1,668.9 crore the previous year.

    Compared to INR 2,172.3 crore in the prior quarter, the revenue decreased by 11%. In FY25, the company’s consolidated operating revenue was INR 7,810.1 crore, a 19% increase over FY24’s INR 6,550 crore.

    Brainbees’ Financial Outlook

     In contrast, the FirstCry parent company’s total expenses rose 17% to INR 1,914.4 crore in the quarter that ended in March, from INR 1,633.7 crore in the same period last year and INR 2,064.4 crore in the previous quarter.

    The company’s expenses for the entire year totalled INR 7,429.6 crore, a 16% increase over INR 6,410.4 crore the year before.

    According to multiple news reports, the Bureau of Indian Standards (BIS) carried out a significant search and seizure at a FirstCry warehouse the day after it released its quarterly results.

    The items seized included toys, sippers, and other items valued at nearly INR 1.43 crore, which were allegedly sold without the required BIS certification.

  • illumine Secures $2.5M Seed Funding from Prime Venture Partners to Scale AI-Driven Childcare Management Globally

    illumine, a startup transforming early childhood education through AI, has raised $2.5 million in seed funding from Prime Venture Partners. The funding will accelerate illumine’s product development and international expansion, as the company aims to become the global standard for childcare management software.

    The idea for illumine was born from a deeply personal experience. Navneet Rastogi, Co-founder and CEO of illumine, missed a key milestone in his son’s early life, his first steps, while his child was at daycare. “I only found out weeks later,” Rastogi recalls. It was a moment that should have brought joy in real-time, but instead, it slipped by unnoticed. That’s when I realised just how disconnected and outdated communication in childcare really is. This incident sparked the vision for illumine: a technology platform that keeps parents connected, educators supported, and centres empowered”. 

    The startup addresses a long-overlooked challenge in a rapidly growing industry. As the number of dual-income households increases, so does the demand for quality childcare. But how do most childcares cater to this when they continue to operate with disjointed systems and outdated manual processes? illumine solves this by offering the world’s first vertical AI SaaS platform built specifically for childcare. Already used by more than 3,000 centres across 56 countries — including the U.S., UAE, Southeast Asia, Europe, and India — illumine has rapidly become a go-to solution for early education providers.

    “Parents invest thousands of dollars annually in their children’s early education, yet the childcare industry remains surprisingly underserved by modern technology. This results in a frustrating experience for parents, teachers get bogged down in administrative tasks instead of focusing on education, and centers miss out on growth opportunities,” said Shripati Acharya, Partner at Prime Venture Partners. “We are excited to back the illumine team, which is transforming this space with their AI-first vertical solution that simplifies every aspect of running a childcare center while improving outcomes for children, parents, and educators alike.” 

    The Co-founders further underscored illumine’s commitment to purposeful innovation in the early years segment. “At illumine, we’re building AI that goes beyond automation — every feature is thoughtfully designed to support the complexity and diversity of childcare providers around the world,” said Sourabh Agarwal, CTO of illumine. “Whether it’s a single preschool or a multi-center operation, the system is built to flex and adapt to each centre’s unique needs,” added Purva Goyal, the CPO.

    With this new round of funding, illumine plans to continue setting global benchmarks for childcare management, with a firm focus on innovation, educator empowerment, and helping childcare owners scale with confidence.

    About illumine

    illumine is the world’s first AI-powered, full-stack childcare management platform. Purpose-built for preschools and childcare centres, illumine streamlines operations, enhances communication, and delivers intelligent insights — all in one intuitive system. With a presence in 56 countries and growing, illumine is on a mission to transform early childhood education through technology that supports educators, reassures parents, and empowers childcare owners to grow.

    Daily Indian Funding Roundup – 17 June 2025
    Here’s your daily roundup of funding activity and key business developments from India on 17 June 2025. From fresh capital raises to leadership changes, here’s everything you need to know today.
    StartupTalkyStartupTalky News

  • TCS Imposes 35-Day Bench Limit, Mandates 225 Billing Days Annually for Employees

    Tata Consultancy Services (TCS) has implemented a revised associate deployment strategy that requires a minimum of 225 business days of billing yearly in an effort to tighten resource utilisation and decrease idle time.

    This restricts bench time to 35 days annually, forcing workers to actively look for projects or face potential career consequences.

    According to a media channel, the new regulations, which go into effect on June 12, are a part of TCS’s internal initiative to increase efficiency as the IT services sector struggles with slow development as a result of uncertain macroeconomic conditions.

    The Global Head of the Resource Management Group (RMG), Chandrasekaran Ramkumar, sent out an internal communication announcing the modification.

    Employees will Face Severe Consequences for not Following Modifications

    According to the guideline, associates must be assigned for at least 225 working days annually.

    According to the statement, associates who are left unallocated after the limit may experience negative effects on their pay, promotions, abroad postings, and even their ability to continue working.

    The TCS communication states that it is the associate’s primary commitment to be proactive, connect with regional RMG, and pursue appropriate prospects, putting the onus allegedly entirely on the employees.

    To stay deployment-ready, associates without active project allocations need to complete all training courses, use tools like the Gen AI interview coach, and spend four to six hours a day on learning platforms like iEvolve, VLS, and Fresco Play.

    Freshers to be on Their Toes

    The business has made it clear that on their first day, new hires should be given projects to work on. Newcomers have been advised to contact RMG immediately for assistance if it doesn’t.

    According to a story published by a media outlet, the corporation has expressed concern over its employees’ frequent switching between short-term contracts. In the message, they mentioned that if this occurs regularly, HR may take action to look into the issue, which might have dire repercussions.

    According to the new policy, working from the office is the norm when it comes to working arrangements. Flexibility or remote work will only be permitted in certain circumstances, such as a personal emergency, and will require prior RMG approval.

    TCS has emphasised that failure to abide by this policy may lead to severe consequences, including termination. Additionally, TCS has issued a warning against making frequent short-term allocations across multiple projects. According to the rules, these kinds of trends could result in disciplinary action and HR investigations.

  • Physis Capital Crosses INR 200 Crore in Fundraise to Fuel 15–20 High-Impact Tech Startups by 2025

    • Leading institutional investors and family offices such as SUD Life, Haldiram’s Family Office, Lotus Holdings, and Narayana Nethralaya join Physis Capital as LPs
    • Final close expected in the next six to nine months
    • Physis to invest in high-impact, tech-driven startups from Pre Series A to Series B rounds
    • Aims to build a select portfolio of 15 — 20 startups
    • First cheque size will be in the range of $1-1.5 million, with a top-up of $1-4 million in high-performing startups from the portfolio 
    • Physis Capital has invested in three companies so far: Ben & Gaws, CTPL, and STAGE

    Physis Capital, the growth-stage venture fund established by Vinay Bansal, Ankur Mittal and Mitesh Shah, the powerhouse team behind Inflection Point Ventures, have announced reaching an important milestone in the fundraising journey. The fund has raised over INR 200+ crore to date, with the remaining capital expected to be secured over the next 6 to 9 months. 

    Following its first close, Physis Capital has been actively raising the corpus from family offices, HNIs, and institutional investors, who have played a pivotal role in the fund’s early momentum. The fund has seen strong participation from marquee backers, including SUD Life – a joint venture between Bank of India, Union Bank of India, and Japan’s Dai-ichi Life Holdings (managing over INR 31,000 crore in AUM). Other notable investors include Narayana Nethralaya, a NABH-accredited eye care institution in Bangalore, and prominent family offices like Haldiram’s and Lotus Holdings.

    Focused on high-impact, tech-driven startups from Pre-Series A to Series B, Physis backs bold founders solving real-world problems through innovation, with the potential to scale sustainably and win big.

    Commenting on the milestone reached by Physis, Mr. Vinay Bansal, General Partner, Physis Capital says, “With strong support from marquee investors and a clear focus on founder-first investing, Physis Capital is well-positioned to back the next wave of high-impact startups in India – partnering with bold, ambitious teams to drive long-term, sustainable growth. We are on track to build a portfolio of 15+ companies by the first half of next year. At present, we have 8 deals in the pipeline and are confident about issuing term sheets for 3–4 of them in the coming months. These investments are expected to close within the next 2 quarters. The pipeline spans diverse sectors, including healthtech, fintech, consumer brands, and quick commerce.”

    Physis Capital is powered by a global network of experienced CXOs, senior advisors, and operators across 10+ countries. “Our LPs bring more than just capital — they bring unmatched strategic insights and deep industry expertise that help us make sharper, more impactful investment decisions. Their active, hands-on involvement adds substantial value, propelling our portfolio companies as they scale across diverse markets and sectors,” says Ankur Mittal, General Partner, Physis Capital.

    Physis Capital is led by a seasoned leadership team of IPV, whose combined experience spans operations, finance, and venture investing. Vinay Bansal, with over 24 years of experience, brings a rare blend of turnaround expertise and growth-stage leadership. He has played pivotal roles in transforming businesses like Vishal Mega Mart and Healthium, and has successfully taken companies such as Campus Shoes, RR Kabel, and Dodla Dairy to IPO. At Wildcraft and Milkbasket, he helped scale operations from the ground up, and later founded Inflection Point Ventures’ first fund. Vinay leads Physis’ investments across Retail, E-commerce, Agri-Tech, Consumer-Tech, Health-Tech, and Sports & Fitness.

    Ankur Mittal brings over 22 years of deep financial expertise, having worked in M&A and valuation across New York and London with institutions like Credit Suisse and Citigroup. He built Training the Street (TTS) into one of Asia’s premier financial Phygital training companies, where he worked closely with the world’s largest sovereign wealth funds and top-tier global universities. At Physis, he drives investments in Fin-Tech, SaaS, Enterprise Tech, Ed-Tech, Deep-Tech, and Logistics, where his institutional lens adds significant value.

    Mitesh Shah, with 22+ years of experience, has been instrumental in scaling two of India’s most iconic consumer-tech companies—Ola and BookMyShow. A former Sequoia scout and ranked #32 on Fortune India’s Top 100 Investors list, Mitesh is known for backing innovative, high-growth ventures. He leads investments in Mobility, Auto-Tech, Content, Social Media, Climate-Tech, FinTech, and Consumer-Tech.

    Physis recently made its third investment in STAGE, a hyperlocal OTT platform creating content in Indian dialects like Haryanvi, Rajasthani, and Bhojpuri, serving regional audiences across the country. The fund aims to deploy capital in 15 – 20 startups by next year as it reaches its final close, which is expected in the next 6 – 9 months. 

    Inflection Point Ventures Secures 14 Exits in 2024, Delivers ~36%
    Inflection Point Ventures, the most active angel network in India, announces 14 exits from 2024, delivering an IRR of ~36% and reinforcing its ability to generate liquidity for its investors.
    StartupTalkyMuskaan Kapoor

  • Oben Electric Closes INR 100 Crore Series A Round to Boost Retail and Product Growth in FY26

    • Extended Series A saw participation from Helios Holdings, Sharda family office, Kay family, and other existing investors
    • Funding to accelerate expansion to 150+ showrooms across 50+ cities in FY26, deepen product development via the new ‘O100’ platform, and scale production infrastructure within the existing facility

    Oben Electric, an R&D driven homegrown electric motorcycle manufacturer, has raised additional INR 50 Crore in May 2025 through an extended Series A funding round. The extended series A round follows series A round of INR 50 Crore raise in January 2025, bringing the total Series A funding to INR 100 Crore and overall funding raised to INR 200 Crore. The round saw participation from new and existing investors, including Helios Holdings, Sharda family office, Kay family and other new & existing investors. This fund raise signals strong investor conviction in Oben Electric’s consistent growth, product quality, financial metrics and electric motorcycle segment leadership.

    Mr. Sandesh from Sharda family office commented: “Oben Electric had the right technology, product market fit and growth indicators. They are operating in an untapped large market opportunity with multi-fold revenue growth QoQ. The feedback of the electric motorcycle was great, and their vertical integration of critical EV components, including LFP battery, motor and vehicle control unit, is a key differentiator. We were also impressed by the maturity of the founders, which is required to build such a large & complex business and believe that they would be successful in building the first global electric motorcycle brand from India.”

    This latest infusion of funds will power Oben Electric’s continuing growth and accelerate its expansion to over 150 showrooms across 50+ cities by FY26, fast-tracking product development of the company’s new ‘O100’ platform for affordable electric motorcycles under INR 1 lakh, and scaling up its manufacturing within Bangalore facility and strengthening its after-sales service network across markets.

    Following the initial Series A raise, Oben Electric rapidly scaled with 37 retail outlets across 26 cities in 13 states, entering key markets like Punjab, Gujarat, Madhya Pradesh, Telangana, Uttar Pradesh, Chhattisgarh, and Odisha, underscoring strong post-funding execution and demand.

    Madhumita Agrawal, Founder & CEO of Oben Electric, said, “The extended Series A funding is a strong vote of confidence from our investors and comes at a time when our momentum is accelerating nationwide. We’re expanding not just our retail footprint but also our innovation roadmap with platforms like O100 that aim to democratise electric motorcycles for the mass market. Backed by full vertical integration and a resilient supply chain, this funding prepares us for a new phase of scale, impact, and growth opportunities.”

    Oben Electric stands apart as an R&D-led, vertically integrated company, designing and manufacturing not just electric motorcycles but also all critical components, including batteries, motors, vehicle control units, and home fast chargers. Backed by a 500+ member expert team, Oben operates a fully compliant, 100,000-units-per-year manufacturing facility in Jigani, Bengaluru, supported by a strong domestic supply chain of 150+ vendors. Its e-motorcycles undergo testing across 200+ performance parameters and are supported by 68,000+ public charging stations and 10+ ecosystem partners for insurance, financing, and roadside assistance.

    Oben Electric has emerged as a preferred choice for daily commuters with its Rorr electric motorcycle lineup. The Oben Rorr EZ, starting at INR 99,999, is tailored for city commuters with rapid acceleration (0–40 km/h in just 3.3 seconds), a top speed of 95 km/h, and a range of up to 175 km (IDC) across three battery variants. Alongside, the company continues to offer its flagship Oben Rorr, known for delivering high-performance electric mobility. Both motorcycles are powered by high-performance LFP (Lithium Iron Phosphate) battery technology, a first in India’s electric two-wheeler segment, ensuring superior durability, safety, and consistent performance across extreme weather conditions.

    Looking ahead, Oben Electric plans to raise $30 million in Series B in 2025 to support international expansion and further scale-up of production and product lines, building on its vision of “Designed in India for the World.”

    About Oben Electric

    Oben Electric is an R&D-driven electric motorcycle organisation founded in August 2020 and headquartered in Bengaluru. Oben Electric specializes in designing, developing, and manufacturing performance electric motorcycles and its critical EV components in-house, here in India. With a team of passionate technologists with over 25 years of collective hands-on experience in the electric vehicle R&D, Oben Electric focuses on “Design in India for the World.”

    The company has been at the forefront of transforming the electric two-wheeler landscape in India by introducing several groundbreaking initiatives. Oben Electric pioneers the use of advanced battery chemistry, such as LFP, in electric two-wheelers, offering enhanced safety, longer range, and cleaner operation compared to other widely used battery chemistries. Additionally, the company holds more than 25 patents for its proprietary technology and EV components.

    As an early entrant in the electric motorcycle market, Oben Electric is leading the adoption of electric motorcycles in India, which happens to be the world’s largest motorcycle market. With limited competition at present, the company aims to become the largest electric motorcycle OEM globally. Their vision is to revolutionise the industry by providing cutting-edge electric mobility solutions that cater to the diverse needs of riders.

    Oben Electric Set to Launch O100 for 100cc EV Segment
    Oben Electric, India’s leading homegrown R&D driven electric motorcycle manufacturer, today announced that it is working on its second indigenous electric motorcycle platform, O100 (Pronounced as O Hundred).
    StartupTalkyStartupTalky News

  • Geoffrey Hinton ‘Godfather of AI’ Warns of Mass Unemployment

    According to Geoffrey Hinton, the “Godfather of AI”, certain occupations are less vulnerable to AI’s replacement than others.

    Hinton stated that AI has the potential to result in widespread unemployment, particularly in white-collar jobs, in an interview that was broadcast on 17 June on the “Diary of a CEO” podcast.

    Hinton restated his claim that AI is better and said he believes AI would simply replace all people in mundane intellectual labour. White-collar jobs are referred to as “mundane intellectual labour”.

    Additionally, he clarified that AI would assume the human form and perform tasks that were previously performed by ten people.

    Because of the possibility of automation, Hinton stated that he would be “terrified” to work in a call centre at this time. But he noted that it will take longer for AI to displace blue-collar jobs.

    “I think it will be a long time before AI is as good at physical manipulation,” Hinton stated in the podcast. Therefore, being a plumber would be a wise choice, he added.

    AI Creating New Jobs is a Myth-Hinton

    Hinton questioned the idea that AI will lead to the creation of new jobs in the podcast, pointing out that if AI were to automate intellectual work, human labour would become scarce.

    According to Hinton, a task that AI simply couldn’t perform requires a highly skilled individual. In an effort to please its investors, OpenAI recently revealed plans to restructure its business, turning its for-profit division into a public benefit corporation (PBC).

     As per a media site, OpenAI stated that the plan will enable it to generate additional funds in order to stay competitive in the costly AI race.

    Some critics, however, expressed alarm, saying that while the proposal may be a positive beginning, it falls short of providing sufficient assurance that OpenAI will remain true to its initial goal of creating artificial intelligence for the good of humanity.

    Geoffrey Hinton and former OpenAI staff members are among the detractors. They said that the proposed restructure of OpenAI would have prioritised the financial interests of investors over the general welfare.

    According to a media report, Elon Musk, a co-founder of OpenAI and current rival through his business xAI, also opposed the plan on the same reasons and is suing OpenAI for violating the terms of the company’s founding agreement.

    About Geoffrey Hinton

    The 78-year-old Geoffrey Hinton is known as the “Godfather of AI” because of his work on neural networks, which he began in the late 1970s. He teaches computer science at the University of Toronto and was awarded the 2024 Nobel Prize in Physics for his work in machine learning (ML).

  • SEBI Cracks Down: Sanjiv Bhasin, 11 Others Banned; INR 11.4 Crore Impounded

    Market commentator Sanjiv Bhasin and eleven other individuals and firms have been banned by the Securities and Exchange Board (SEBI), which oversees capital markets, for engaging in front-running and manipulating the market.

    Additionally, the regulator has ordered that these parties forfeit more than INR 11.4 crore in illegal earnings that were purportedly obtained from these crimes.

    These persons have participated in market manipulation through stock recommendations made on television channels and various social media platforms, according to SEBI’s 149-page interim ex-parte order issued on 17 June.

    Bhasin, his cousin Lalit Bhasin, Lalit’s brother-in-law Ashish Kapur, and other family members, dealers, and associated businesses, including Bhasin’s RRB Master Securities, Delhi, are among the 12 noticees who have been prohibited from using the securities market.

    Additionally, they are not allowed to purchase, sell, or deal in securities in any way, either directly or indirectly. Additionally, SEBI stated in the ruling that their bank and demat accounts had been frozen as a result of the purportedly illegal gains.

    What SEBI’s Order States?

    In the 149-page order passed by whole-time member Kamlesh C Varshney, SEBI stated that the total amount of unlawful gains earned from the alleged violations, which is INR 11,37,19,170, will be impounded jointly and severally.

    The noticees are directed to open fixed deposit accounts in a scheduled commercial bank to credit/deposit the aforementioned amount of unlawful gains jointly and severally with a lien marked in favour of SEBI.

    The amount kept in the accounts will not be released without SEBI’s permission. Bhasin, noticee 1, has been told by Sebi to save the records of his several social media accounts until further instructions are given.

    Additionally, it stated that the noticees must not sell or alienate any of their assets or properties until the amount of their illegal earnings has been credited to fixed deposit accounts, unless SEBI has granted them prior authorisation.

    Accused Ordered to Provide Details of Movable and Immovable Assets

    Additionally, the accused have been ordered to submit a comprehensive list of all of their assets, both immovable and movable. They can ask for a personal hearing and have 21 days from the date of order receipt to submit responses to SEBI. Bhasin, a director at IIFL Securities, reportedly traded through the broker RRB Master Securities, Delhi, according to SEBI’s probe.

    He would first purchase assets for himself before recommending them to the general public via the IIFL Telegram channel and/or news outlets like Zed Business and ET Now. Bhasin would sell these securities and turn a profit after their prices increased as a result of his advice. SEBI came to the conclusion that he made “ill-gotten gains” by manipulating security prices.

    In contrast to his own suggestions made on media outlets throughout the investigation period, the SEBI probe discovered that he traded through RRB Master Securities in the accounts of its clients Venus Portfolios, Gemini Portfolios, and HB Stock Holdings.

    In the accounts of Venus, Gemini, and HB, Bhasin would square off his positions (mostly sell), frequently in a matter of minutes, through dealers of RRB Master, even though he was mostly giving “buy” recommendations to viewers/followers on media channels and other platforms.

    According to the evidence, he would stay in constant communication with dealers and instruct them to follow buy/sell orders right away, as stated in the order.

  • Daily Indian Funding Roundup – 17 June 2025

    Here’s your daily roundup of funding activity and key business developments from India on 17 June 2025. From fresh capital raises to leadership changes, here’s everything you need to know today.

    🚀 Indian Funding Digest – 17 June 2025

    Company Name Amount Raised Funding Type Sector Key Investors
    Darwix AI $1.5 million Seed Round AI/Enterprise SaaS iSeed Ventures, 100X.VC, Gaingels
    Xportel Undisclosed Seed Round B2B Tech/SaaS Rukam Capital, Flipkart Ventures, Sitara
    Dugar Finance $3 million Debt Funding Cleantech/NBFC UC Inclusive Credit Pvt. Ltd.
    Saswat Finance $2.6 million Series A Financial Services Ankur Capital, SIDBI, Incofin, others
    Pop (via Razorpay) $30 million* Acquisition Creator Economy Razorpay (majority stake acquired)

    *Razorpay’s acquisition of Pop involved an investment of $30 million for a majority stake, not a typical funding round.

    Darwix AI Raises $1.5 Million

    Generative AI startup Darwix AI has secured $1.5 million in a seed funding round led by Rebalance, Inflection Point Ventures (IPV), and JITO Incubation and Innovation Foundation (JIIF). Participating investors include Growth Sense, Growth91, and angels—Ankit Nagori, Sanjay Suri, Amit Lakhotia, and Mekin Maheshwari.

    Xportel Bags Seed Funding from Flipkart Ventures, Others

    New Delhi-based rural digital network platform Xportel has raised an undisclosed seed round from Rukam Capital, Sitara VC, and Flipkart Ventures. With a strong network of 12,000+ last-mile centres across India, the startup focuses on delivering services like online exam registration, train and flight bookings, and essential digital access to Tier-3 and Tier-4 towns.

    The funding will be used to scale its footprint and technology platform to deepen rural digital enablement.

    Rukam Sitara, Flipkart Ventures Back Xportel to Boost India’s Export Tech
    Xportel has raised capital in its ongoing seed funding round. The round saw co-investment from Rukam Sitara and Flipkart Ventures, with additional backing from venture catalysts and a group of notable angel investors.
    StartupTalkyStartupTalky News

    Dugar Finance Raises $3 Million via Symbiotics’ Green Bond

    Dugar Finance, a non-banking financial company (NBFC) specialising in clean energy and inclusive credit solutions, has raised $3 million in debt through Symbiotics Investments’ Green Basket Bond, a $75 million issuance focused on renewable energy adoption across Asia and Africa.

    Razorpay Acquires Majority Stake in POP for $30 Million

    Indian fintech giant Razorpay has acquired a majority stake in POP, a fast-growing point-of-sale (POS) technology startup, for $30 million. The acquisition is expected to strengthen Razorpay’s omnichannel merchant services by combining online and offline payment solutions under one roof.

    POP currently serves over 1.2 million small merchants, offering contactless checkout and intelligent inventory tools. The move is part of Razorpay’s larger strategy to diversify its merchant services beyond digital payments.

    Saswat Finance Raises $2.6 Million Pre-Series A Led by Ankur Capital

    Saswat Finance, a fintech platform focused on delivering credit to underserved communities and gig economy workers, has raised $26 million in a Pre-Series A round led by Ankur Capital. The round also saw participation from Flowstate VC, Venture Catalysts, and angels from the financial services industry.

    Key News Highlights – 17 June 2025

    Zoomcar Data Breach Exposes Personal Data of 8.4 Million Users

    Zoomcar disclosed that an unauthorised breach had exposed personal data of approximately 8.4 million users. Compromised information includes names, phone numbers, email IDs, vehicle registration numbers, and residential addresses. Crucially, no financial or payment information was accessed. The platform serves over 10 million users across 99 cities. The company has engaged cybersecurity experts and launched a forensic investigation.

    Pocket Entertainment Elevates Umesh Bude to CTO

    Pocket Entertainment, the media arm behind Pocket FM, Pocket Toons, and Pocket Novel, has promoted Umesh Bude from Senior VP of Engineering to Chief Technology Officer (CTO). In his new role, Bude will steer the company’s tech strategy, with a focus on AI-powered storytelling and scaling content infrastructure to meet growing demand.

    Honasa (Mamaearth) Appoints Yatish Bhargava as CBO

    Consumer brands house Honasa Consumer Ltd., parent to Mamaearth, The Derma Co, Aqualogica, Bblunt, Dr Sheth’s, and Staze Beauty, has appointed Yatish Bhargava, formerly of Flipkart, as its Chief Business Officer (CBO), designating him Senior Management Personnel. Bhargava will lead the company’s omnichannel growth, driving new partnerships and distribution channel expansions.

    MakeMyTrip to Raise $2.5B to Reduce Trip.com Stake

    MakeMyTrip plans to raise $2.5 billion to reduce the Chinese travel firm Trip.com’s stake from 49% to 25%. The move is part of its strategy to diversify ownership, ease geopolitical concerns, and increase Indian institutional investment.

    CCI Approves Delhivery’s Acquisition of Ecom Express

    India’s Competition Commission has officially approved Delhivery’s acquisition of rival logistics firm Ecom Express. Announced in April for INR 1,407 crore, this deal is expected to consolidate last-mile delivery operations, enhance scale, and optimise efficiency.

    Daily Indian Funding Roundup – 16 June 2025
    Here’s your daily roundup of funding activity and key business developments from India on 16 June 2025. From fresh capital raises to leadership changes and acquisitions, here’s everything you need to know today.
    StartupTalkyStartupTalky News

  • Darwix AI Raises $1.5 Million to Build Omnichannel GenAI Stack for Sales, Targets Global Growth Across BFSI & Retail

    Darwix AI has raised $1.5 million in a funding round. Key investors and early believers who participated in this round were Rebalance, IPV, JITO Incubation and Innovation Foundation, alongside Growth Sense, Growth91 and notable angels. Key angel backers include prominent startup leaders Ankit Nagori, Sanjay Suri, Amit Lakhotia, and Mekin Maheshwari.

    The fresh capital will fuel Darwix AI’s product development and market expansion efforts. Darwix AI is building an industry-first, deeply integrated omni-channel generative AI stack that provides conversational intelligence, assistance, and automation for sales conversations and is building for large enterprises. This comprehensive approach differentiates it in the burgeoning conversational AI space, which has typically seen point solutions; Darwix’s all-in-one stack is designed to give organisations end-to-end visibility for the first time on customer interactions and enable them to level up each touchpoint for customers.

    Darwix AI has deeply integrated its GenAI conversational stack to power omnichannel interactions for large enterprises in BFSI and Retail with presence cutting across top ten players in key sectors across the US, India and the Middle East. With a proprietary multi-tenant LLM stack built on cutting edge integrations across key software stacks and an industry-first hardware stack, Darwix AI’s GenAI solution is positioned well to ride this wave of AI adoption in BFSI and Retail. Darwix AI is founded by seasoned startup operators and IIM alumni Ajay Sethi and Hanit Awal, strengthening their product and GTM prowess.

    “We’re building Darwix AI to solve a very real gap in how enterprises enhance sales conversations, across voice, chat, email, and in-person interactions. Enterprises today are overwhelmed by fragmented point solutions or just hit with plain blackbox scenarios across interactions. Our goal is to offer a unified, generative AI stack that not only understands but also elevates every customer interaction with actionable intelligence and automation. This fundraise gives us the fuel to double down on product innovation and expand our US footprint,” said Mr. Ajay Sethi, Co-founder, Darwix AI.

    Commenting on the funding round, Aishwarya Malhi & Vikas Kumar, Co-founders at Rebalance said, “Sales conversations are the heartbeat of any business, and we believe it’s time they became smarter, faster, and more contextual. Darwix AI is focused on creating an ‘agent+AI’ future. Their traction across BFSI and retail validates this direction, and we’re excited to back them as they scale their impact across industries and geographies.”

    With its new funding, Darwix AI is poised to accelerate product development, hire aggressively, and deepen its presence across global markets. The startup will be scaling its omnichannel generative AI conversational platform into more enterprise use cases. As generative AI becomes an integral part of enterprise strategy worldwide, Darwix AI’s ambitious bet on a unified conversational intelligence and automation stack could well position it as a leader emerging out of India in this space. 

    About Darwix AI

    Darwix AI is building the industry’s first omnichannel generative AI platform for enterprise sales and service conversations. Founded by IIM alumni Ajay Sethi and Hanit Awal, the company is headquartered in Gurugram and operates globally, across India, the Middle East, Southeast Asia, and the US. Together, the founders have assembled a robust core team and added IIT-BITS alumni and top technology and business leaders like Kushal Das as co-founders to further bolster Darwix AI’s capabilities. Darwix AI’s Transform+ platform delivers real-time conversational intelligence, agent assistance, and automation across voice, chat, email, and in‑person channels, all backed by a secure, multi-tenant LLM infrastructure.

    Daily Indian Funding Roundup – 16 June 2025
    Here’s your daily roundup of funding activity and key business developments from India on 16 June 2025. From fresh capital raises to leadership changes and acquisitions, here’s everything you need to know today.
    StartupTalkyStartupTalky News