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  • Outzidr Raises ₹27 Crore in Pre-Series A Round Led by RTP Global

    Bengaluru, India, August 7, 2025 – Outzidr, the fast-growing fashion brand built for Gen Z women, has raised ₹27 crore (~$3.1 million) in a pre-Series A round led by RTP Global, with participation from existing investor Stellaris Venture Partners.

    Founded in 2024 by a team with deep fashion and operations expertise – Nirmal Jain, Mani Kant Mani and Justin Mario — and launched in February 2025 — Outzidr has rapidly scaled into a breakout digital-first fashion brand offering on-trend western wear for Indian women aged 18–28. The brand caters to the modern woman who lives life outside — always on the move and in style. Whether she’s stepping out for brunches, date nights, music gigs, college fests, airport runs, or spontaneous weekend getaways, Outzidr has her covered for every occasion. From statement co-ords for rooftop evenings to breezy fits for gallery hopping and Insta-worthy day trips, every look is crafted to be as expressive as she is.Nirmal (ex-STYLI, Myntra, Increff, McKinsey) and Mani (ex-Max Fashion, Myntra, Increff) have led large-scale digital fashion businesses, while Justin (ex-STYLI, Delhivery, Rivigo) has driven supply chain and customer experience. Together, they bring years of experience decoding Gen Z preferences, agile supply chains, and brand building — forming the backbone of Outzidr’s style and scale DNA.

    In just five months, the brand has gained more than 100,000 customers, achieved retention rates 1.5x above industry benchmarks and introduced over 8,000 styles on its website.

    Outzidr’s test-and-scale model allows it to pilot small batches and double down on bestsellers. The brand launches up to 2,000 new styles every month — or 500 every week — through its own D2C platform and leading marketplaces like Ajio, Myntra, and Nykaa Fashion. This momentum is powered by an agile supply chain, strong data science capabilities, and in-house tech innovation.

    The new funding will fuel Outzidr’s next phase of growth, including the launch of its first exclusive offline store by March 2026 and expansion of its design, operations, and technology teams.

    “Outzidr represents the energy of a new generation — fast-paced, fresh, and fearless,” said Nirmal Jain, Co-founder and CEO of Outzidr. “We’re building a brand that listens, learns, and reacts in real time. This fundraise is a strong validation of our mission to become the everyday fashion choice for Gen Z women — and of the incredible team and opportunity we’re building for.”

    India’s fast fashion market is currently valued at around $10 billion and is projected to surge to over $50 billion by FY 31—growing at a ~30% CAGR, as per a June 2024 report by RedSeer. Gen Z, now accounting for over 35% of India’s online shopper base, demands constant freshness, wide variety, and affordability – delivered with speed.

    “We’re excited to back Outzidr — a team of seasoned operator-turned-founders with deep domain experience and a sharp understanding of Gen Z consumer behavior,” said Pavitra Gupta, Director at RTP Global. “As consumer preferences evolve and loyalty is built within sharply defined verticals, Outzidr is poised to emerge as a category-defining brand in women’s fashion.”

    “We’re thrilled to double down on our partnership with Outzidr. We invested when the company was at an idea stage last year, and since then have seen firsthand how strong customer love has translated into high repeats. It’s been incredible to witness their pace, grit, and clarity in execution,” said Mayank Jain, Principal, Stellaris Venture Partners.

    Outzidr has previously raised ₹30 crore (~$3.5 million) in a seed round led by Stellaris Venture Partners with participation from a group of strategic angels.

    About Outzidr

    Outzidr is a youth-focused fashion brand redefining ‘going-out’ wear for women in India. With statement-making, trend-forward styles, Outzidr celebrates the joy of showing up as your most confident self— no matter the occasion. Designed for a generation that lives at the crossroads of style and culture, Outzidr is more than a fashion brand—it’s a growing community of bold, expressive women. Founded in September 2024, Outzidr operates out of Bangalore and Gurgaon.

    About RTP Global

    RTP Global is an early-stage venture capital firm, backing the founders who use technology to reimagine how the world works. Since 2000, RTP Global has made over 150+ investments worldwide, with one in 10 becoming multi-billion dollar companies and one in 20 publicly trading at over $10bn. Notable investments include Datadog, DeliveryHero, Cred and SumUp. RTP Global has offices in New York, London, Paris and Bangalore.

  • No More Middlemen: TCS Cuts Vendor Access After Laying Off 12000 Employees

    After firing 12000+ employees, TCS is tightening its hiring, especially for contract ones. Contract hiring is paramount for TCS, accounting for about 8% to 10% of the total workforce. Previously, these hirings were handled by Resource Management Group (RMG). Now, TCS has onboarded Pontoon Solutions to oversee the hiring from here on.

    The vendors (who usually provide the contract workers to TCS) worry about losing communication with the RMG team and TCS altogether. Why did TCS make such a drastic move right after its mass layoffs? Is it an indicator that the company is facing instability revenue-wise? Or because it couldn’t just rely on the Vendors anymore?

    Pontoon Solutions is a US-based recruitment process outsourcing (RPO) company. TCS extended its hand for collaboration with Pontoon for several reasons:

    TCS Cost-Cutting

    TCS’s quarterly (June 2025) revenue went down 0.59%, bringing in $7.42 billion. As a result, the company laid off over 12,000 employees. Amid growing tension between the US and India, TCS wants to invest less in rehiring.

    More Control And Transparency In Hiring

    The vendor system involved too many people, and in some way or another, weak candidates were pushed into the roles. Therefore, the gap between the candidates and project performance for TCS felt problematic.

    Centralized Hiring With Pontoon Solutions

    Now with Pontoon, TCS can worry less about hiring the best talent. Here’s how the new filtering process looks for TCS:

    1. Job postings are done via the Pontoon platform.
    2. Vendors can submit suitable resumes directly to Pontoon.
    3. Pantoon then filters the best-suited candidates.
    4. After a few more vetting rounds, the top performers are sent to the final rounds with TCS.

    Why Vendor Communications Are Cut With TCS After Layoffs?

    TCS recognized the long-term risks of hiring the wrong people through vendors. Continuing communication with vendors would repeat the cycle over and over. TCS believed it was unreasonable to invest money in areas that don’t deliver RIO. TCS’s stance is clear: there is no more business for vendors who lack the right talent.

    For now, these changes are limited to contract roles only (hired for 6 – 12 months), not permanent roles. There are no reforms to the TCS conventional way of hiring via campus placements, lateral hiring, and executive search firms.

  • Mira Murati Says No To $1 Billion Offer, Angry Mark Zuckerberg Is Now After Her Startup

    Silicon Valley believes that whatever Mark Zuckerberg wants, he always gets. Not this time, though. Well-known for his strategic acquisitions (96 companies so far), he tried to acquire a new AI startup called Thinking Machines Lab. He offered a whopping $1 billion to the company’s cofounder, Mira Murati (former CTO of OpenAI), and $1.5 billion to Andrew Tulloch. And to his surprise, both declined the bid. The man whose touch turns to gold is now responding with “a full-scale raid” (meaning he is buying out the company’s people), according to The Wall Street Journal. Well, you may wonder, why is he so desperate about a startup (that hasn’t launched a product yet) after all? Here’s all you need to know.

    Meta’s Superintelligence AI Dream Team Effect

    Mark is pushing this hard to have the best team onboarded to build the “Superintelligence” AI dream team. AI that is faster, smarter (outthinks human intelligence), and better than any. The first to do so will lead the future of technology and the economy. Thus, Mark wants to be that guy, and so he is luring Thinking Machines Lab’s best talent to his side.

    Why Mira Murati and Andrew Tulloch Rejected $1 Billion?

    Ironically, Andrew Tulloch worked at Meta from 2012 to 2023 but still rejected Mark’s offer. He contributed widely to its ML infrastructure and PyTorch (an AI research tool). Both Andrew and Murati worked at OpenAI and later cofounded Thinking Machines Lab in 2025. The company’s valuation is about $12 billion now. At their core, they both believe in their startup and want to continue scaling independently, so $1 billion fell short for them.

    Meta’s Aggressive Hiring

    The Wall Street Journal cites some shocking details about Meta’s aggressive hiring (after being rejected) from the Thinking Machines Lab. Reportedly, Meta reached out to multiple employees, and Matt Deitke, a popular name, has already accepted a $250 million offer.

    Matt Deitke is a 24-year-old engineer at Thinking Machines Lab. Meta initially offered him $125 million, only to get rejected. Later, Mark Zuckerberg met Matt Deitke and doubled the offer, and he accepted it this time. About $100 million of that offer is guaranteed in the first year itself.

    Not just that, Meta is aggressively targeting the smartest engineering talents out there (from OpenAI, Anthropic, and more). The company got in touch with more than 100 and took 10 on board already.

    Whether this is true or not, one thing is certainly clear: Meta is after something big and bigger than AI. Perhaps a mega AI on the brink of rising? We’ll find out soon.

  • RPG Group Chairperson Harsh Goenka Says: AI is Making New Jobs

    The discussion is old and yet relevant. Will AI take over our jobs? Every day, the news seems to prove the point right. TCS laid off 12000+ employees (On July 27), and 15000+ were laid off by Microsoft (until August 2025), both citing AI as the reason. Some even reported anxiety and depression after being laid off, while others may be on the edge of being laid off. All these arguments paint a negative angle of AI. However, RPG Group Chairperson Harsh Goenka is starting a new conversation, and something you may want to know. AI is creating new jobs.

    RPG Group Chairperson Harsh Goenka, on August 5, shared his viewpoints about AI on the platform ‘X.’

    He wrote, “Everyone asks: “Will AI take my job? What new jobs is AI creating?” AI will disrupt work & reinvent it. There will be new jobs like Prompt engineers, AI product managers, AI ethics specialists & workplace landscape will change. New winners will be the smartest & most adaptable.”

    The post garnered 16400 Views and around 50 people shared their thoughts. And here we outline the roles and their scope for the future.

    Prompt Engineering

    Prompt Engineering is the role that looks after the designing and writing of compelling prompts for LLMs like ChatGPT and GPT-3. According to Grand View Research, the Prompt Engineering market is growing at a 32.8% CAGR and is expected to go up $2.06 billion by 2030 (globally).

    And according to Glassdoor, the salary for a Prompt Engineer starts at 4 LPA and can go up to 30 LPA and more in India.

    AI Product Manager

    AI product managers are responsible for producing AI-powered products. Unlike conventional product managers, AI PMs work closely with data pipelines and machine learning models.

    Recently, several job hunt platforms like Glassdoor, LinkedIn, and Indeed have seen a significant hike in AI Project Manager job postings.

    Glassdoor projects the basic salary for an AI Project Manager at 14 LPA, and can reach 27 LPA or higher in India.

    AI Ethics Specialists

    The rapid expansion of AI brings ethical dilemmas, data privacy, transparency, and accountability concerns. Even the governments are bringing in laws to monitor AI, such as the EU’s AI Act and the U.S.’s AI Bill of Rights. Therefore, an AI Ethics Specialist becomes an AI police.

    According to Glassdoor, the base pay for AI Ethics Specialists is 13.5 LPA in India. All of the above roles are excellent options to upskill to stay ahead in this AI era.

    A Few Final Thoughts…

    In a recent survey done by India Today, approximately 70% of participants reported benefiting from upskilling, and 72% found better career paths. There can be no better time than now to put a step forward and upskill with AI, so the conversations turn from layoffs to good pay.  

  • Daily Indian Funding Roundup & Key News – 6 August 2025: SuperGaming Raises $15M, Antfin Exits Paytm, The Sleep Company Bags ₹480 Cr & More

    India’s startup and business ecosystem remained dynamic on August 6, 2025. Gaming startup SuperGaming raised $15 million in a Series A round led by Skycatcher and Steadview Capital, while The Sleep Company secured INR 480 crore in a mix of primary and secondary funding. In broader news, Antfin fully exited Paytm by selling its remaining INR 3,980 crore stake, and MSRTC announced the launch of its own ride-hailing app, Chhava. Here’s your quick roundup of today’s top funding deals and key business news.

    Daily Indian Funding Roundup – 6 August 2025

    Company Round / Stage Amount Raised Lead Investor(s)
    HYLENR Pre‑Series A US $3.0 million Valour Capital, Chhattisgarh Investments
    SuperGaming Series B US $15 million Skycatcher, Steadview Capital
    The Sleep Company Series D ₹480 crore ChrysCapital, 360 ONE Asset
    DPDzero Series A US $7.0 million GMO Venture Partners, SMBC Asia, Blume Ventures
    Zype – ₹90 crore Unleash Capital Partners, Xponentia Capital
    EON Space Labs Pre‑Series A US $1.2 million MGF Kavachh, HHV Advanced Technologies
    CodeKarma Pre‑seed US $2.5 million Prosus, Accel, Xeed Ventures
    Cautio Seed US $3.0 million Amal Parikh, 8i Ventures, others
    Gladful – ₹8 crore Eternal Capital
    House of Biryan Strategic investment Not disclosed MS Dhoni (cricket icon & entrepreneur)

    HYLENR raised $3 million

    Clean energy startup HYLENR, based in Hyderabad, secured $3 million in a Pre-Series A round. The investment was led by Valour Capital and Chhattisgarh Investments Limited, with participation from angel investors Karthik Sundar Iyer and Anant Sarda. The startup develops Low Energy Nuclear Reaction (LENR) systems and aims to transition from lab-scale research to commercial deployment.

    SuperGaming raised $15 million

    Pune-based gaming company SuperGaming raised $15 million in a Series B funding round led by Skycatcher and Steadview Capital. Other participants include a16z Speedrun, Bandai Namco 021 Fund, Polygon Ventures, and Neowiz. SuperGaming is expanding globally with its battle royale game “Indus” and now holds a valuation close to $100 million.

    The Sleep Company raised INR 480 crore

    Comfort-tech brand The Sleep Company raised INR 480 crore in its Series D round. The funding was led by ChrysCapital and 360 ONE Asset, with partial secondary exits by Fireside Ventures. The startup plans to expand its offline presence, scale manufacturing, and invest further in its proprietary SmartGRID® technology.

    DPDzero raised $7 million

    Debt recovery automation startup DPDzero secured $7 million in a Series A round led by GMO Venture Partners. SMBC Asia Rising Fund and Blume Ventures also participated. The fintech platform leverages AI to improve collections for lenders and will now launch its own field collection agents across major Indian cities.

    Zype raised INR 90 crore

    Mumbai-based fintech platform Zype raised INR 90 crore in an equity funding round. The round was led by Unleash Capital Partners, with participation from existing backer Xponentia Capital. Zype offers digital credit services and will use the capital to strengthen its lending platform and customer acquisition efforts.

    EON Space Labs raised $1.2 million

    Hyderabad-based EON Space Labs raised $1.2 million in Pre-Series A funding led by MGF Kavachh and HHV Advanced Technologies. The startup, incubated at T-Hub and IIT Madras, is building MIRA, India’s lightest high-resolution space telescope, and other surveillance imaging systems. The funds will support production and launch efforts.

    CodeKarma raised $2.5 million

    Developer productivity startup CodeKarma raised $2.5 million in a pre-seed round co-led by Prosus, Accel, and Xeed Ventures. The startup is developing AI-driven tools to optimise software development processes for enterprises by reducing redundant code and creating real-time feedback loops.

    Cautio raised $3 million

    AI-powered fleet safety startup Cautio raised $3 million in a seed round led by investor Amal Parikh, with participation from 8i Ventures, AU Small Finance Bank, and other angels. Cautio offers AI dashcams and analytics for logistics companies, focusing on reducing road risks and improving fleet compliance.

    Gladful raised INR 8 crore

    Nutrition startup Gladful secured INR 8 crore in a fresh funding round led by Eternal Capital, the investment arm of former BharatPe COO Dhruv Dhanraj Bahl. The brand creates protein-rich snacks and food products for children and plans to grow its D2C offerings and product portfolio with this funding.

    House of Biryan received strategic investment

    Cloud kitchen brand House of Biryan received a strategic investment from cricketer and entrepreneur MS Dhoni. Founded in 2022, the startup operates over 20 kitchens in India and Dubai. With Dhoni’s support, it aims to expand to 150 outlets globally and achieve a revenue run-rate of INR 450–550 crore in the next three years.

    Key News Highlights for 6 August 2025

    Ant Financial fully exits Paytm for INR 3,980 crore

    Ant Financial (Antfin Netherlands Holding B.V.), affiliated with Jack Ma’s Alibaba Group, sold its entire 5.84% stake in Paytm’s parent, One97 Communications, through two block deals executed on 5 August, totalling approximately INR 3,980 crore. Buyers included global institutions such as Société Générale and MY Asian Opportunities Master Fund; the shares were transacted at around INR 1,067.5 per share. This completes Ant’s phased divestment from Paytm over the past two years.

    Z47 and Tiger Global trim holdings in Ola Electric

    Early investors Z47 (formerly Matrix Partners India) and Tiger Global Management reduced their equity in Ola Electric during Q1 FY26 (April–June 2025). Z47 sold about 0.81%, trimming its stake to 1.93%, realising between INR 147–192 crore; Tiger Global reduced its holding by ~0.21% to 3.24%, netting roughly INR 39–48 crore. This follows Hyundai and Kia’s earlier exits and forms part of broader secondary share sales by Z47 across its portfolio.

    MSRTC to launch “Chhava Ride” app in Maharashtra

    The Maharashtra State Road Transport Corporation (MSRTC) is set to launch Chhava Ride, an official government‑run ride aggregator app. Approved in a meeting held on 5 August, the app will integrate multiple transport modes—buses, taxis, auto‑rickshaws and e‑buses—under one platform, as permitted under central and state aggregator guidelines. MSRTC chairman Pratap Sarnaik emphasised that Chhava Ride aims to ensure reliable service for passengers, fair earnings for drivers, and new revenue streams for the state transport body.

    Rupee recovers slightly ahead of RBI rate decision amid U.S. tariff threats

    The Indian rupee edged up to INR 87.74 per US dollar on 6 August, recovering from around INR 87.80. This comes as investors awaited the Reserve Bank of India’s policy decision and weighed the impact of fresh U.S. tariff threats, including a 25% levy on Indian exports. Weak U.S. jobs data and falling Treasury yields helped boost sentiment. Markets widely expect the RBI to hold the repo rate at 5.50%, as confirmed later that day, with rates maintained amid concerns over global trade risks. The RBI also retained its GDP growth forecast at 6.5% but flagged elevated uncertainty due to the tariffs.

    Daily Indian Funding and Business News: 5 August 2025
    From Aerospace startup EON Space Labs securing $1.2 million to GameRamp raising $5.4 million, here’s a look at the top funding deals and key business highlights in India from August 5, 2025.
    StartupTalkyStartupTalky News

  • MSRTC to Launch ‘Chhava Ride’ App for Booking Autos, Buses & Taxis

    According to reports, the Maharashtra State Road Transport Corporation (MSRTC) will introduce a passenger app that is based on an aggregator and will provide transport services on a single platform.

    One App, Multiple Rides: Buses, Autos, Taxis & E-Buses

    According to PTI, the app would let users schedule rides for buses, autorickshaws, taxis, and e-buses. It is being developed under the aggregator policy of the federal and state governments. This statement was made earlier this week at a high-level meeting by state transport minister Pratap Sarnaik. The app would be called “Chhava Ride”, according to the report.

    Revenue Opportunity for MSRTC Through Digital Transformation

    According to various media reports, Sarnaik stated that the MSRTC was the most qualified entity to run the app, which is anticipated to create a new source of income for the transportation agency while offering passengers a reliable and open service.

    State Cracks Down on Unlicensed Private Aggregators

    Nearly a week has passed since the minister blasted the current private aggregators for taking advantage of both drivers and passengers. The state government of Maharashtra launched a crackdown on Uber Shuttle and other bus aggregators in mid-July for operating without the required licenses.

    Policy Challenges for Ola, Uber, Rapido in Maharashtra

    Additionally, when the federal government announced the Motor Vehicle Aggregator Guidelines (MVAG) 2025 earlier in July, it required ride-hailing aggregators to meet the goals set for the proportion of electric vehicles in their fleet.

    Aggregator Cabs Policy 2025, which was passed by the Maharashtra government in May, stipulated that drivers who cancel rides would henceforth be required to pay a fee, which should then be promptly credited to the rider’s account.

    Auto Unions and Local Startups Fill the Gap

    In June, the software development firm Metazen Labs and the autorickshaw unions Seva Sarathi Autorickshaw Taxi & Transport Union (SSATTU) of Mumbai jointly released Yatri Mitra, a new auto booking app for commuters in Thane and Mumbai. Earlier this March, the Centre announced the launch of a new state-backed ride-hailing service dubbed “Sahkar Taxi,” which will compete with industry titans like Ola, Uber, and Rapido.

    Regulatory Clash: Maharashtra Government vs Ride-Hailing Giants

    The ride-hailing app Rapido recently applied for a licence to provide bike taxi services in the state from the local transport authority but was turned down. It then filed a challenge to the notification with the Bombay High Court (HC).

    The company was ordered to cease its bike taxi services for operating without a licence by the HC, which also denied the petition. The state’s bike taxi policy has been in uncertainty ever since.

    In the meantime, ride-hailing platform taxi drivers in Mumbai are still demonstrating in favour of quicker aggregator policy implementation and pay parity with traditional taxi drivers.

  • GitHub’s CEO Drops a Bombshell: “Either You Embrace AI, or Get Out of This Career”

    When warnings like these come from a CEO of a major tech company, you take notes. We’re talking about GitHub CEO Thomas Dohmke criticizing developers who aren’t embracing AI, yet. If that ‘yet’ applies to you too, then you need to understand Thomas Dohmke’s standpoints, or you could be in trouble. We recently covered news about Microsoft laying off over 15,000 employees (until August 2025) after its hefty investment in AI, and now there’s another caution adding fuel to the fire.

    He posted a detailed opinion about AI and developers on his ‘X’ account on 4 August. According to Thomas Dohmke, developers shouldn’t be worried; instead, stay optimistic. But how exactly? Here’s more on what he said and what it could mean for you.

    Reasons For Warning Developers On Embracing AI – GitHub CEO

    Thomas Dohmke’s warning came after a field study involving 22 developers. The interview provided insights into how they approached and integrated AI. He shared that the research happened in 4 stages.

    1. Skeptic – Where the developers simply weren’t that interested or just thought “Pretty cool, but gimmicky.”
    2. Explorer – Where developers were put to work “Using AI for debugging, boilerplate, and snippets,” soon they came to learn the AI’s limitations.
    3. Collaborator – Where the developers turned into active co-creators with AI.
    4. Strategist – Where the developers became confident being on one page with AI. And so they started “Treating AI as a powerful partner for feature development, complex tasks, and large-scale refactorings.”

    The study uncovered striking opinions among these 22 developers after the 4th stage. Half believed AI would write 90% of the code within the next 5 years, while the other half agreed it would happen in 2 years.

    In fact, one of the developers also said, “Either you have to embrace the AI, or you get out of your career.”

    If you are someone still sticking with traditional coding and spending long hours, waiting for a sign, then this is pretty much it.

    News Skills Developers Need Right Now – Thomas Dohmke

    He wrote, “The future belongs to developers who can model systems, anticipate edge cases, and translate ambiguity into structure—skills that AI can’t automate.” And pointed 7 key skills to stand out:

    1. AI fluency – Learning and understanding AI tools and their capabilities, limitations.
    2. Delegation and agent orchestration – Critical communications skills are a must.
    3. Human-AI collaboration – Just learning and understanding AI won’t do, but hands-on execution does.
    4. Fundamentals – Deep programming skills are a must and non-negotiable.
    5. Verification and quality control – To err is human and to err is AI, so verifying the code is quintessential.
    6. Product understanding – Understanding users’ needs goes beyond code, and AI is still naive for that.
    7. Architecture and systems design – AI is good for handling the low-level coding, the overall system architecture understanding rests in your hands.

    Final thoughts

    According to the U.S. Bureau of Labor Statistics, the software job market is expected to grow by 18% over the next decade. Meaning developers are still needed. In his opinion, the AI era is about the skill shift, not coding less or replacing developers. What do you think? Are you still skeptical or slightly optimistic?

  • Antfin Fully Exits Paytm With INR 3,981 Cr Selloff: Chinese Stake Nears Zero

    On July 5, the Alibaba Group affiliate business sold 3.73 Cr shares of the fintech giant through open-market transactions for INR 3,980.7 Cr, a day after rumours circulated that Antfin was seeking to sell its remaining interest in Paytm.

    Societe Generale, My Asian Fund Among Key Buyers

    Antfin sold the shares at an average selling price of INR 1067.6 each, according to BSE data. This was about 1% less than Paytm’s closing price of INR 1,078.3 on 4 August. Societe Generale acquired 67.5 lakh shares, while My Asian Opportunities Master Fund L snatched up 35 lakh of the shares that flooded the market.

    Antfin to Sell Remaining Stake via INR 3,800 Cr Clean-Out Deal

    According to a CNBC report, Antfin Holding BV, a division of Alibaba Group, intends to sell its remaining 5.84% share in One 97 Communications, the parent company of financial giant Paytm, through a clean-out block deal of INR 3,800 Cr.

    The sale’s floor price is INR 1,020 per share, which is 5.4% less than the BSE’s closing price of INR 1,078.30 on 4 August. Antfin would completely leave the Indian fintech company with the deal, which is anticipated to be completed in a single tranche.

    Final Exit Follows Earlier INR 2,103 Cr Stake Sale in May

    This action comes after Antfin sold a 4% interest for INR 2,103 Cr in May 2025. Over 2.55 Cr shares were sold in that transaction at an average price of INR 824.67, which was 3.72% less than Paytm’s most recent closing price at the time. Goldman Sachs (Singapore) had acquired 37.25 lakh shares in that transaction at that point.

    Paytm’s Performance Boosts Investor Confidence

    In just three months, Antfin will have sold off almost 10% of its Paytm stock, marking a calculated withdrawal following years of investment. Antfin had roughly 23.8% of the business at its height.

    The anticipated exit follows Paytm’s first-ever quarterly net profit of INR 122.5 Cr in Q1 FY26, which was achieved after the company reported a loss of INR 839 Cr the previous year. EBITDA was positive at INR 71.5 Cr with a 3.7% margin, while its revenue increased 27.7% YoY to INR 1,917.5 Cr.

    Impact: China’s Stake in Paytm Nears Zero

    Over the past month, the company’s stock has climbed by more than 20% as a result of rising investor confidence and a growth in mutual fund participation. The agreement would further lessen China’s involvement in Paytm, which has already come under fire for issues with foreign ownership and data localisation.

    Vijay Shekhar Sharma, the creator of Paytm, and his family members own Resilient Asset Management BV, an international company that holds a 19.31% stake in One97 Communications, making them the largest stakeholder overall.

  • Ola Electric Faces Investor Pullback Ahead of IPO

    In 2019, Z47 made their initial investment of INR 107 crore in Ola Electric. The AI startup Krutrim and the ride-hailing company Ola Cabs are also owned by the venture capital fund.

    Z47 and Tiger Global’s Exit Strategy

    In October of last year, ET revealed that Z47 is reducing its ownership of Ola, the fintech startup Razorpay, the business-to-business (B2B) commerce company OfBusiness, and the local language content platform Dailyhunt in order to generate $150–180 million. At the same time, Tiger Global Management reduced its ownership of Ola Electric from 3.45% three months before to the end of June 2025 to 3.24%.

    Through its Internet Fund III, Tiger Global currently owns INR 585 crore in the EV manufacturer. In June, Hyundai Motor Company and Kia Corporation made INR 552 crore and INR 137 crore from the sale of about 10.88 crore and 2.7 crore shares, respectively.

    Ola Electric’s Financials: Revenue Drop and Profit Focus

    As sales suffered in the face of heightened competition in India’s E2W sector, Ola Electric’s operational revenue for the first quarter virtually halved compared to the same period last year, and its loss increased. For the quarter that ended on June 30, the company reported a net loss of INR 428 crore on revenue of INR 828 crore.

    The net loss decreased to less than half from INR 870 crore in the January-March quarter, but it increased from INR 347 crore a year earlier. In the March quarter, it reported operating revenue of INR 611 crore. During an earnings call, Bhavish Aggarwal, the business’s founder and managing director, stated that the company has now shifted its focus to profitability.

    What’s Next for India’s EV Giant?

    According to Aggarwal, the company has shifted from a strategy of aggressive penetration to one of more balanced and profitable expansion. Following a period of hypergrowth, the industry is now consolidating and is expected to experience another upswing soon. It’s time to combine operations till then.

  • HYLENR Closes $3 Million Pre-Series A Funding Round to Commercialise Low-Energy Nuclear Reaction Systems

    The Pre-Series A Funding Marks Transition from Breakthrough Research to Prototyping, Validates LENR as a Scalable Clean Energy Alternative

    HYLENR, a clean energy startup harnessing patented Low Energy Nuclear Reactions (LENR) to develop scalable, carbon-free heat energy systems for industrial heat and power, today announced the successful closure of around $3 million strategic Pre-Series A funding round to accelerate product commercialisation.

    The round was led by Valour Capital and Chhattisgarh Investments Limited, early-stage investors focused on deep-tech/energy transition technologies. Individual investors Karthik Sundar Iyer and Anant Sarda also participated. PwC served as the company’s advisor on the transaction, while Samvad Partners was their legal advisor.

    The fresh capital injection enables HYLENR to fast-track from pilot to market launch, signalling growing investor confidence in LENR as a viable alternative to fossil fuels amid rising interest in its breakthrough heat energy amplification and scalable commercial systems.

    Karan Goshar, Partner at Valour Capital, commented, “HYLENR’s LENR technology is disruptive; it represents a leap forward in redefining how the world approaches industrial heat and energy generation. What excites us most is the scalability and safety profile of their systems, coupled with the perfect mix of technological and entrepreneurial expertise within the team, which positions HYLENR to play a key role in the global energy transition. We are thrilled to back a team delivering transformative technology.”

    “We believe LENR has the potential to be the safest and most energy-efficient thermal and electrical generation technology of the future,” said Siddhartha Durairajan, Chairman and Managing Director of HYLENR. Adding, “Our recent lab results show unprecedented energy gain ratios, and this round gives us the momentum to focus on our product roadmap. We have begun early proof-of-concept tests, with several government bodies and large corporations showing interest in our LENR systems. The next phase will focus on scaling manufacturing and expanding globally.”

    “This round is a vote of confidence in both our technology and our mission,” expressed Ram Ramaseshan, Co-Founder, Executive Director and CEO of HYLENR. “We have moved beyond proof-of-concept into a phase where LENR can begin to address real-world energy challenges. This funding allows us to accelerate product development and market reach, addressing industry needs for clean, high-yield thermal and electrical energy solutions in the US, Europe, India and Japan markets.”

    Pilot projects are already underway with leading government institutions and industrial players, aimed at replacing conventional fossil-based systems with sustainable, next-generation alternatives. The company’s product pipeline includes products ranging from 7.2KW for domestic consumption all the way to 1MW for large-scale industrial applications.

    With its next fundraising round of USD 25 Million targeted with strategic investors and with Clean Energy focused funds from the U.S. and Europe, HYLENR aims to build on this momentum and expand its R&D, engineering, and international partnerships. The company is seeking mission-aligned investors who recognize LENR as a foundational pillar of the post-carbon energy era.

    The inspiration for LENR technology comes from HYLENR’s Chief Innovation Officer, Padma Shri Dr. Prahlada, renowned as the Missile Man of India for his work on the Akash missile, and Dr. Varaprasad, the company’s Chief Scientific Officer.

    About HYLENR Technologies

    Founded in 2024 and based in Hyderabad, HYLENR Technologies is at the forefront of next-generation energy innovation. The company’s proprietary LENR-based hybrid heat systems aim to revolutionise thermal energy generation across industries such as manufacturing, oil & gas, district heating, and clean water desalination. Their breakthroughs in LENR are now protected by two patents — one for the product architecture and another for the underlying process innovation.

    About Valour Capital 

    Valour Capital is a venture capital firm backing breakthrough startups with the potential to create global impact. With a portfolio spanning cleantech, AI, biotech, and infrastructure, Valour is committed to investing in technologies that reimagine industries and reshape the future.