The Karnataka High Court has directed online gaming startup WinZO to furnish comprehensive financial details, including disclosures related to its subsidiaries and associated entities in India and overseas, as part of an ongoing investigation linked to alleged financial irregularities. The directive comes amid proceedings initiated after the Enforcement Directorate (ED) conducted search operations at multiple premises connected to the company last month. During the action, the ED froze assets worth approximately ₹505 crore and arrested WinZO’s two cofounders, intensifying scrutiny around the firm’s financial structure and transactions. According to court filings, the High Court has asked WinZO to submit audited…
Author: Adarsh Kumar
Bengaluru based fintech startup Jar is in advanced discussions to raise over $100 million in a fresh funding round led by WestBridge Capital, according to multiple sources familiar with the matter. The proposed round is expected to value the company between $500 million and $550 million, marking a significant step up from its previous valuation. Sources indicated that Kotak Investment Banking has been appointed as the banker for the transaction, and the deal could be finalised within the next four to six weeks, subject to customary conditions. Queries sent to Jar and WestBridge remained unanswered at the time of publishing.…
Recruitment platform WorkIndia has raised $10.8 million (around ₹97 crore) in a fresh funding round to expand its footprint across non-metro and Tier II–III markets in India. The round was led by Aavishkaar Capital, which invested ₹75 crore, while existing investor BEENEXT Capital participated with an investment of ₹22 crore, underscoring continued confidence in the company’s growth trajectory. WorkIndia said the newly raised capital will be deployed to upgrade its technology infrastructure, enhance platform capabilities, and tap into high-demand hiring markets in towns and cities beyond Tier I. The company aims to strengthen its AI-led job matching engine and improve…
Travel tech firm Travelstack Tech, the parent company of budget hotel chain FabHotels, has filed its draft red herring prospectus (DRHP) with SEBI to raise funds through an initial public offering (IPO). According to the DRHP, the proposed IPO will comprise a fresh issue of equity shares worth up to ₹250 crore and an offer-for-sale (OFS) of up to 2.69 crore shares by existing shareholders. The final issue size and pricing will be determined closer to the launch. Several prominent investors are set to pare their stakes via the OFS, including Accel, Goldman Sachs, Panthera Growth Partners, Anupam Mittal and…
Smart home appliances manufacturer Atomberg has initiated formal preparations for an initial public offering (IPO) and has appointed investment bankers for a public issue that could raise over ₹2,000 crore, according to a report by Moneycontrol. The Mumbai-based company has finalised Avendus Capital and IIFL Capital as lead bankers for the proposed IPO. Atomberg is also in discussions with Axis Capital and ICICI Securities to appoint a third book running lead manager. While Avendus and IIFL have been confirmed, the company is expected to select one of the two remaining firms to complete the syndicate. The proposed IPO is likely…
Healthcare diagnostics major Thyrocare Technologies Limited has appointed Dr Ramesh Kinha as its Chief Operating Officer (COO), reinforcing its leadership team as the company continues to expand its footprint across India. Dr Kinha is a seasoned healthcare and diagnostics professional with more than 17 years of experience across leading organisations in the diagnostics sector. In his new role at Thyrocare, he will be responsible for overseeing laboratory operations, enhancing quality standards, and strengthening operational efficiencies across the company’s nationwide network. Before joining Thyrocare, Dr Kinha served as Group Director Laboratory Services at Vijaya Diagnostic Centre Limited, where he led key…
Bengaluru based electric vehicle startup Oben Electric has raised ₹85 crore in a fresh funding round to scale its distribution network and accelerate new product launches. The round witnessed participation from Indian-American family offices based in the US along with angel investors Raj K Soin, Musa Dakri and Ramesh Bhutada. The company said the newly raised capital will be deployed to strengthen its retail and service presence across key markets, expand customer touchpoints, and support upcoming product introductions. Oben Electric is also expected to invest in brand building and operational scale up as it looks to deepen its footprint in…
The Indian government backed cab hailing platform Bharat Taxi is set to launch in Delhi on January 1, 2026, offering a driver owned alternative to private ride hailing companies such as Uber, Ola and Rapido. The platform is promoted by Sahakar Taxi Cooperative Limited and follows a cooperative ownership model aimed at improving driver incomes and fare transparency. Under the Bharat Taxi model, drivers will retain nearly 80% of the total fare, significantly higher than the earnings typically offered by commission based aggregators. In some cases, officials have indicated that the entire fare paid by passengers will be credited directly…
Tata Consultancy Services (TCS) has disclosed that its annualised revenue from artificial intelligence (AI) has reached approximately $1.5 billion, marking a 16.3 per cent sequential growth, according to CEO K Krithivasan. This is the first time India’s largest IT services company has shared a specific AI revenue metric, reflecting growing investor interest in understanding the return on investment as enterprises ramp up spending on AI-driven technologies. As of March this year, TCS reported total revenue of $30.2 billion, underscoring that while AI currently represents a relatively small share of overall revenue, it is emerging as a fast growing and strategically…
Paytm Payments Services Limited (PPSL), a wholly owned subsidiary of One 97 Communications Limited, has received authorisation from the Reserve Bank of India (RBI) to operate as a payment aggregator for physical or offline payments as well as cross-border transactions, according to a regulatory filing. The approval enables PPSL to facilitate cross-border payment aggregation for both inward and outward remittances. This is in addition to the online payment aggregator licence granted by the RBI last month, allowing the company to offer end-to-end payment aggregation services across online, offline and international merchant touchpoints. With the latest clearance, PPSL now holds RBI…