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[Funding alert] SimpliContract raises $1.8M in seed round led by Kalaari Capital

Bengaluru-based SimpliContract, an AI and SaaS-based contract lifecycle management (CLM) platform, has raised $1.8 million in a seed funding round led by Kalaari Capital with participation from Picus Capital, Arka Ventures, and Digital Sparrow Capital. This funding will drive the startup’s efforts in engineering, AI research, and marketing.

Sharpening income inequalities telling story of ‘uneven’ economic recovery amid pandemic: Ex-RBI Guv Subbarao

Former RBI Governor D Subbarao has expressed concerns over “extreme unevenness” in economic recovery and “sharpening inequalities” between upper income segments and lower income households in the country, cautioning that the trend will hit growth prospects going forward.

India natural ally of G7 in defending democracy, freedom of thought, and liberty: PM Modi

Prime Minister Narendra Modi on Sunday said India is a natural ally for the G7 and its partners in defending democracy, freedom of thought, and liberty from a host of threats stemming from authoritarianism, terrorism, violent extremism and economic coercion. The prime minister made the remarks during a virtual address at an outreach session of a summit of the Group of Seven (G7) richest democracies, which was held in the British seaside resort of Cornwall.

Fintech startup Nuclei issues stock appreciation rights for employees worth 25 pc of its valuation

Bengaluru-based fintech startup Nucleihas issued Stock Appreciation Rights (SARs) for its employees. With this, 25 percent of the company will now be owned by its employees. Distributed among 60 of its employees (of the total 85), these stocks are worth Rs 25 crore considering the current valuation for the company stands at Rs 100 crore, founder Ankur Joshi tells YS Media in an exclusive interaction.

Delhi unlock: Restaurants to reopen with 50 pc capacity; malls, markets to open daily, says Kejriwal

Restaurants with 50 percent capacity, weekly markets and religious places will reopen in Delhi from June 14, Chief Minister Arvind Kejriwal announced on Sunday, saying the COVID-19 situation has significantly come under control in the city. Salons, beauty parlours and barber shops closed since the imposition of lockdown on April 19, will also reopen from Monday, officials said.