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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Vedantu’s core revenue falls below FY21 level; losses narrow in FY24

Edtech firm Vedantu’s revenue from its core business in FY23-24 dropped below its FY20-21 levels, marking the second consecutive year of decline and indicating a continued slowing in its main…

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