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Online rental and subscription platform Rentomojo Ltd has received Sebi's go-ahead for its proposed initial public offering (IPO), an update with the regulator showed on Monday. The proposed IPO comprises a fresh issue of equity shares aggregating up to Rs 150 crore and an Offer for Sale (OFS) of 2.84 crore equity shares by existing shareholders, according to the draft red herring prospectus (DRHP). The regulator received the company's draft papers on April 1 and gave its observations on July 6, the update showed. In Sebi parlance, the issuance of observations implies its approval to float the IPO. According to the draft papers, the company proposes to utilise the net proceeds from the fresh issue towards payment of loans, payment of lease rentals or licence fees for warehouses and experience stores, and general corporate purposes. Rentomojo operates a technology-driven, direct-to-consumer online rental and subscription platform for furniture and home appliances. As of September
QOSMIC, a Bengaluru-based deep-tech company building optical communication infrastructure for space, said on Wednesday that it raised USD 3.33 million in a seed funding round. The funding will accelerate the company's work to build the data layer of the space economy, the network that carries information between satellites, orbital data centres, and the ground network. In a statement, Shreyaans Jain, co-founder and CEO of the company, said, "The next decade of the space economy will be defined by data. Satellites are becoming exponentially more capable, but the infrastructure connecting them to Earth has not kept pace." "We believe optical communications will become as fundamental to space infrastructure as fibre optics became to the internet. This funding enables us to accelerate that transition and build the connectivity layer that the next generation of space applications will rely on," he added. Founded in 2025, QOSMIC is building laser-based communication systems that enable .
Rural-focused microfinance institution Sindhuja Microcredit on Monday said it has raised USD 5 million (Rs 47 crore) in a pre-series D funding round from its existing investors. The funding round saw participation from Abler Nordic, GAWA Capital (through its vehicle Huruma Fund) and Oikocredit, the company said in a statement. The Noida-headquartered NBFC-MFI will utilise the fresh capital to strengthen its capital base, support business expansion, and scale up access to credit for underserved communities. "We are making significant progress in our mission in touching the lives of low-income women borrowers from under-served households as well as in making financial services accessible to the financially excluded and MSME entrepreneurs through efficient, customer-friendly and technology-enabled solutions," Sindhuja Microcredit Co-Founders Abhisheka Kumar and Malkit Singh Didyala said in a joint statement. "The latest funds will drive us to the next phase of growth by further expand