Page 15 - Fundings

OpenAI nears funding round at over $100 bn valuation led by Thrive Capital

OpenAI has been in early discussions to raise funding at a valuation at or above $100 billion since at least December, people with knowledge of the matter told Bloomberg News late last year

Bain Capital-backed 360 One raises $500 million for secondary fund

Nearly 90 per cent of the capital raised for the new fund was from local family offices and high net worth individuals

Budget carrier AirAsia gets $443 mn private funding, may refurbish planes

AirAsia's deal is another instance of the growing popularity of private credit in Asia that is fast becoming a serious rival to mainstream lending by offering higher, floating rates of return

Govt needs money to meet challenges, fund R&D, says FM Sitharaman

Union Finance Minister Nirmala Sitharaman on Tuesday justified the present taxation regime, saying that the country needs resources to meet the challenges facing the nation and also to fund research and development activities. Sitharaman was addressing the 11th convocation of Indian Institute of Science Education and Research (IISER) in Bhopal. While appealing to the scientist community to do more research on the storage of renewable energy, Sitharaman said the world has promised a lot of money towards transitioning from fossil fuel to renewable energy but that money is yet to come. "But India didn't wait. The promises given in Paris (Paris Agreement) were fulfilled with our own money. There are times when being the finance minister, it doesn't give me motivation when I have to answer people about why our taxes are like this? Why can't we even be lower than this? I wish I can bring it down to almost nil. But India's challenges are severe and challenges will have to be overcome," the

Collapsing land sales in Hong Kong threatens city's funding model

For decades, the city's government generated massive income from auctioning off land to cash-rich developers as prices soared

Oyo founder Ritesh Agarwal invests Rs 830 cr in firm's latest funding round

Besides Agarwal, key contributors in the funding round include InCred Wealth, J&A Partners, the family office of Mankind Pharma promoters and ASK Financial Holdings

OYO's parent Oravel Stays raises Rs 1,457 crore in latest funding round

Oravel Stays Ltd, the parent company of OYO, has raised Rs 1,457 crore from a consortium of investors in the latest funding round, sources said. The IPO-bound unicorn has raised nearly Rs 1,040 crore in the Series G funding round. This follows an earlier raise of Rs 416.85 crore in the same series and concludes the round. According to different documents accessed by PTI, the additional equity issuance was approved by 99.99 per cent shareholders in an EGM held on August 8. The capital will be used to support OYO's growth and its global expansion plans, sources said. The additional fund raise values the company at the same valuation of USD 2.4 billion, as the first Series G tranche issued to InCred in July, a source said. The investment is being made through Compulsory Convertible Cumulative Preference Shares, each priced at Rs 29, consistent with the valuation of the recent raise in Series G. The funding round includes contributions from InCred Wealth, who led the recent fundrai

ERF sees no payouts since 2019, fund reaches Rs 1,062 cr: MoS tells RS

Established in 2008 to assist individuals affected by hazardous substances, ERF has remained inactive in recent years. "No funds have been released from the ERF in the past five years," Singh stated

With no angel tax, startups and investors hope for better funding scenario

While the abolition of the angel tax is a big win for startups and their investors, the ecosystem is not out of the woods yet

Funding winter for startups may end with angel tax abolition: DPIIT Secy

A system of quarterly disbursement is in place for many sectors, except for few, such as food processing, where it is not feasible, he says

BlackSoil raises over Rs 200 cr debt in H1CY24, with 60% from new lenders

The firm said about 60% of the total debt funding raised during the first six months of 2024 came from new debt investors

Budget expectations: Child rights activists seek increase in funding

Ahead of the Union Budget, child rights activists and organisations have urged the government to put children at the centre of the development discourse and increase funding for their education, healthcare, and protection services. Child rights activists expressed hope that the government will heed their calls for a child-centric approach, ensuring the nation's youngest citizens receive the resources and protection they need to thrive. The Union Budget will be tabled on Tuesday. Puja Marwaha, CEO of CRY - Child Rights and You, stressed the significance of putting children at the centre of the development discourse. "Children constitute more than one-third of the overall Indian population, and investing in them can foster social equity and break the cycle of poverty," she said. Marwaha called for increased allocations for health and nutrition programs, such as the Saksham Anganwadi and Poshan 2.0, especially for children belonging to the Particularly Vulnerable Tribal Groups ...

Boon raises $5 mn in funding from Spanish Roca Group Ventures, others

Water technology startup Boon has raised USD 5 million, (around Rs 42 crore) in a mix of equity and debt funding round, the company said on Wednesday. The funding was led by Spanish Roca Group Ventures, and Roca Group's Venturing Fund, among others. It is the first-ever investment from Roca in a startup in India, according to the statement. Roca has earlier acquired Parryware in India in 2008. Co-founded by IIT Kanpur alumnus Vibha Tripathi and PennState alumnus Advait Kumar in 2015, Boon helps purifiers to monitor the quality of every single drop of water with app-based quality adjustments. Boon uses its patented technologies as predictive filter maintenance using AI. ***** *Ninecamp Ventures raises USD 2 mn Food and beverage firm Ninecamp Ventures has raised USD 2 million (about Rs 16 crore) in a funding round from angel and non-institutional investors. The funding round witnessed participation from a cohort of esteemed investors, including Mohit Gupta, Gaurav Gupta (Former

Tesla veteran Jay Vijayan's startup Tekion secures $200 million funding

Automotive software platform gets backing of Dragoneer Investment Group at a valuation of $4 billion

Fintech firm Partior raises $60 mn Series B round led by Peak XV Partners

Partior, which has global unified ledger-based interbank rails for real-time clearing and settlement, will use the funds to support its international network growth

Funding into AI-focused startups more than doubles to $24 bn in Q2

Overall startup funding grew 16% sequentially to touch $79 bn in last quarter, primarily driven by investments in AI, which became largest sector for first time, followed by healthcare and biotech

Allcargo Gati raises Rs 169.28 cr by issuing equity shares via QIP

The fresh capital secured after fund-raise committee of company's board has approved the issue and allotment to successful qualified institutional buyers at the issue price of Rs 101 per equity share

India Cements denies rumours of Rs 500 cr funding talks with BofA, Nomura

News report of funding talks emerged after UltraTech Cement announced its plans to acquire over 70 million shares in India Cements

Private equity major Bain Capital to allocate 20% of Asia fund to India

Bain-owned Tyger Capital targets 4x growth in book to Rs 15,000 cr

Rare disease patients ask for sustained funding from health ministry

LSDs are primarily treated with Enzyme Replacement Therapy (ERT), which is a lifelong treatment and can cost anywhere between Rs 17 lakh to Rs 50 lakh depending on the weight of the patient