BharatPe Celebrates Profitability: Marks Rs 1,500 Crore Annual Revenue in 2023
The company’s Chief Financial Officer (CFO) and interim CEO, Nalin Negi, announced on November 28 that BharatPe became EBITDA positive in October 2023. This accomplishment is highlighted by an annualized revenue of Rs 1,500 crore, marking a 31% increase from the previous year, driven largely by substantial growth in its lending and payments business.
“From Boom to Backlogs: Ola Electric’s Service Network Strain
Ola Electric, often likened to “Tesla on two wheels” by its CEO Bhavish Aggarwal, has seen a meteoric rise in the electric scooter (e-scooter) market in India
Spacenet Enterprises Acquires 9% Stake in String Metaverse, Paving the Way for Digital Innovation
Spacenet Enterprises invested Rs 10 crore to acquire approximately 1.1 crore shares of String Metaverse, representing about 9% of the company’s equity. The shares were purchased at Rs 9 each.
“Navigating Expansion: MapmyIndia’s ₹500 Crore Fundraising Move
CE Info Systems Ltd, operating as MapmyIndia, has recently announced plans to raise funds worth up to ₹500 crore through a Qualified Institutional Placement (QIP).
Blod.in Revolutionizes Healthcare with Blod+: India’s First Blood Logistics Platform
This innovative software and logistics platform addresses the critical issue of blood wastage in healthcare facilities, promising to significantly reduce such wastage and improve the efficiency of blood distribution.
BITS Pilani Unveils ‘Womenpreneur for Bharat 1.0’ with NITI Aayog and ABCF
‘Womenpreneurs for Bharat 1.0’ aims to provide financial support and incubation assistance to women entrepreneurs who are developing solutions for or from Tier 2/3/4 cities in the Northeast, Rajasthan, Haryana, and Jammu and Kashmir.
Project Maitri: Empowering Women Entrepreneurs in North-East India with MakeMyTrip
MakeMyTrip, a leading online travel platform, has partnered with the Women Entrepreneurship Platform (WEP), incubated under Niti Aayog, to launch ‘Project Maitri’.
Transforming Online Insurance: PB Fintech Injects Rs 350 Crore into Policybazaar
The capital infusion will be executed through the allocation of approximately 58 lakh shares by PB Fintech to Policybazaar. Specifically, an investment of INR 349,99,99,904 will result in the issuance of 58,04,311 equity shares priced at INR 10 each, with a premium of INR 593 per share.
Digital Devotion: Vama’s $1.5 Million Leap in Virtual Spirituality
Vama, a virtual spiritual platform, has successfully raised $1.5 million in a seed funding round. This investment is indicative of the growing interest in digital spiritual solutions and Vama’s unique approach to this domain. Here’s a detailed overview of this development:
ED Issues Show-Cause to BYJU’S: Exploring the Alleged Rs 9.3K Crore FEMA Violations
These notices came after a comprehensive investigation by the ED, which found several contraventions of FEMA provisions amounting to Rs 9,362.35 crore (about USD 1.2 billion).