Velocity earmarks Rs 200 Cr for working capital needs of restaurants

Indian fintech startup Velocity will set aside Rs 200 crore to support the growth of restaurants and cloud kitchens that operate on food delivery platforms like Zomato and Swiggy.The initiative,…

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Bugs in a major McDonald’s India delivery system exposed sensitive customer data

A major McDonald’s delivery system in India exposed the personal information of its customers and drivers due to several simple security flaws, TC has exclusively learned. The flaws, discovered by…

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Startup news and updates: Daily roundup (December 19, 2024)

FundingClimate-tech startup Fitsol raises $1M in seed funding from Transition VCFitsol, a decarbonisation platform designed for the manufacturing industry, has raised $1 million in seed funding round from Transition VC.Fitsol…

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Zepto elevates Chai Point exec to CXO, Zepto Café as 10-minute deliveries take off

Quick commerce unicorn Zepto has elevated Shashank Shekhar Sharma to the company's leadership as CXO for Zepto Café, as the quick bites offering sees buoyant demand.  In his new role,…

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India’s deeptech seed deals surge 5.3X in 8 years, lag behind global averages: Report

The average seed cheque size of Indian deeptech deals has grown steadily over the past eight years, increasing 5.3 times between 2016 and 2023, according to a new report titled…

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SEBI sets timelines for NFO fund deployment by asset management companies

Markets regulator SEBI has decided to introduce timelines for deploying funds raised through New Fund Offers (NFOs) by asset management companies (AMCs) and relaxed regulatory framework regarding the alignment of…

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Micromax, Phison to design, manufacture storage chipsets in India

Electronics company Micromax and Taiwan's storage chip company Phison have set up a joint venture, MiPhi, to design and manufacture artificial intelligence (AI)-enabled storage chipsets modules locally, a senior official…

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