Swiggy launches Emergency Support Services to assist delivery partners
To ensure the safety of delivery partners on the road foodtech unicorn has introduced Emergency Support Services (ESS). These will encompass various options to cater to the needs of delivery partners during an emergency or mishap.
A statement from the company said this will include a 24*7 hotline number, emergency cards for delivery partners, and a direct link to the local police and ambulance service via an SOS button on the Delivery Partner app.
Minimalist raises Rs 110 Cr Series A round led by Sequoia Capital (Funding)
Minimalist, the new-age homegrown skincare brand, has raised Series A funding of Rs 110 crore, (approx $15 million) led by Sequoia Capital India, with participation from Unilever Ventures. The round also saw multiple international investors in just nine months of its inception.
Minimalist plans to utilise the funds to enhance its infrastructure and R&D capabilities, launch in global markets, as well as double down on its content creation efforts by sharing well-researched knowledge about skincare with its consumers.
Blockchain developer tool provider Biconomy raises $9M led by Mechanism Capital and DACM (Funding)
Blockchain transaction platform Biconomy said it has raised $9 million in a private funding round led by DACM and Mechanism Capital, with strategic investments from Coinbase, Bain Capital, Coinfund, NFX, True Ventures, Proof Group, Ledgerprime, Primitive Ventures, Genblock, Rarestone Capital, Huobi Innovation Labs, and Capital Partners.
The startup stated that the the new round of funding will enable Biconomy to further propel its multi-chain transaction infrastructure for next-generation Web3.0 applications.
Easy raises $15M in Series-A round led by Xponentia Capital, others (Funding)
Mortgage tech startup Easy has announced that it has raised $15 million as part of its Series A funding round. The round was led by Xponentia Capital Partners and saw participation from global VC funds — existing investor Harbourfront Capital, Finsight VC, RaSa Future Fund, Navida Capital AB, Helena Wasserman Eriksson, and Integra Software.
Ashok Leyland to invest up to $200M in EVs
Hinduja group flagship firm Ashok Leyland will invest up to $200 million (nearly Rs 1,500 crore) in its electric vehicles journey through its UK-based arm Switch Mobility in the next few years, according to company officials.
Switch Mobility, which will play in the commercial e-mobility space globally for the group through next-generation electric bus and light commercial vehicles, will launch an electric light commercial vehicle (eLCV) later this year in India.
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(Photo credit: AFP)
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RBI allows non-bank PSPs to participate in centralised payment systems
The Reserve Bank of India (RBI) has allowed authorised non-bank payment system providers (PSPs) to participate in centralised payment systems (CPS) such as real-time gross settlement (RTGS) and national electronic fund transfer (NEFT), as direct members.
PSPs include prepaid payment instrument (PPI) issuers, card networks, white label ATM (WLA) operators, and trade receivables discounting system (TReDS) platforms.
Sebi revising risk management framework for MFs: Official
Capital markets regulator Sebi is in the process of issuing a revised risk management framework for mutual fund industry in view of the changes in the industry landscape which will define the roles and responsibilities of officials, a senior official said.
The new framework will have policies regarding risk management incorporating a risk management culture within the organization, and principles for identification and management of risk at the level of MF schemes and overall functions of AMCs (asset management companies), its executive director SV Murali Dhar Rao said.
Government launches secured logistics document exchange platform
The government on Wednesday launched a secured logistics document exchange platform (SLDE) for digital exchange of logistics-related papers and a calculator for greenhouse gas emissions for choosing the sustainable and right mode of transport for freight movements.
The digital initiative is now set to improve logistics efficiency, reduce logistics cost, and promote multi-modality and sustainability in a big way, the commerce ministry said in a statement.
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FamPay team
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FamPay inks deal with Visa to launch numberless cards for teens
Teen-focussed payments platform FamPay on Thursday said it had signed a deal with card issuer Visa Inc to launch numberless, prepaid cards for teenagers to enable them to make NFC-powered payments.
Those availing the cards from FamPay will be able to customise the cards to their liking using doodles, different fonts, and unique names, the startup said in a press release.
had earlier been issuing cards on the RuPay network. The Visa cards will come with 4X rewards on every spend, complimentary subscriptions to teen brands, and Visa-specific offers.
Car servicing startup Fixcraft raises $1M in pre-Series A round from marquee angel investors (Funding)
Fixcraft, a full-stack cloud-garage car servicing startup, on Thursday raised $1 million in a pre-Series A round in equity led by marquee angel investor and debt led by Ubiquity Capital.
The startup will use the funds to widen its presence in Maharashtra, Karnataka, and Andhra Pradesh, and in strengthening the Operations and Technology teams. The brand claims to have already provided services to 3,500 customers till date and plans to double the number by the end of the FY22.
Smartphone shipment grew 82pc to over 33M units in India in Jun 2021 qtr: Counterpoint
Smartphone shipment in India grew by 82 percent in the June 2021 quarter to reach over 33 million units, research firm Counterpoint said recently.
However, smartphone shipment declined 14 percent sequentially due to a fall in consumer sentiment during the second COVID-19 wave. The decline was less-than-expected due to the resilient nature of the smartphone market, it said.
Edited by Megha Reddy
