Browsing: Industry Updates

With this, Trip.com’s stake in MakeMyTrip has fallen to 19.99% from 45%, with two directors, down from five. This comes a month after MakeMyTrip faced allegations of endangering the travel data of Indian army personnel due to its Chinese shareholding.

Renewbuy has secured $10 million in funding from Apis Partners and 360 One amidst its merger with InsuranceDekho. The funds will support business development until the merger receives regulatory approval. Renewbuy, valued at around $324 million after its last funding round, plans to use the capital to expand operations during this interim period.

Mahaveer Finance raised Rs 200 crore in its first venture round led by Elevation Capital. The Chennai-based NBFC plans to expand its loan book, invest in tech, and diversify into products like LAP. With 80+ branches across South India, it targets Rs 5,000 crore in assets and Rs 100 crore monthly disbursals.

The round saw participation from both new and existing investors, including Helios Holdings, the Sharda family office, the Kay family, and others.

Mahaveer Finance raised Rs 200 crore in its first venture round led by Elevation Capital. The Chennai-based NBFC plans to expand its loan book, invest in tech, and diversify into products like LAP. With 80+ branches across South India, it targets Rs 5,000 crore in assets and Rs 100 crore monthly disbursals.

Alpha Partners has expanded its footprint to the UAE with the launch of Alpha Partners FZE, enhancing its cross-border legal advisory between India and the MENA region. The move strengthens the firm’s ability to serve international clients across corporate, regulatory, and dispute resolution matters.

Dugar Finance secured a $3 million debt from Symbiotics Investments. This funding aims to boost electric vehicle and rooftop solar financing. The focus is on residential consumers, MSMEs, and housing societies. These are located in tier-2 and tier-3 cities. British International Investment supports the bond. Ramesh Dugar highlights the mission to link financial inclusion with sustainability.

Men’s ethnicwear brand Kisah Apparels has successfully raised Rs 13 crore in its latest funding round, led by Sagar Daryani of Wow Momo. With this fresh capital, the brand is set to enhance its physical retail footprint and direct-to-consumer initiatives.

According to a report by data intelligence platform Tracxn, former executives at startups who have floated their own ventures are 3x more likely to bag seed funds than others. The funding boost comes on the back of ESOP buyback-led liquidity, desire for new opportunities, return of talent from the US, and the impact of mass layoffs.

The drone startup, which is backed by former Indian cricket captain Mahendra Singh Dhoni, will use the funds for scaling up production capacity from 8,000 drones per annum now to between 12,000 and 15,000 units. The funds will also help boost R&D efforts and expand its export presence to 50 countries by the year-end.