Raise Financial Services, the parent company of stock broking platform Dhan, has acquired GreenLife Insurance Broking in an undisclosed all-cash and stock transaction to expand into the insurance distribution business. GreenLife Insurance Broking Pvt Ltd (GIBL) is an IRDAI registered insurance broker operating across more than 50 cities and towns in East and North-East India through an offline distribution network. Following the acquisition, Raise plans to invest around $15 million in GreenLife to build a technology-led consumer insurance distribution platform focused on product innovation, customer experience, and digital insurance management. Founded in 2013 by Subir Mukherjee, GreenLife works with over…
Author: Adarsh Kumar
Nazara Technologies is planning to divest its esports and adtech businesses as the company sharpens its focus on core gaming operations, according to a report by Moneycontrol. Founder and CEO Nitish Mittersain said the company intends to prioritise gaming segments such as PC and console gaming, which it views as major long-term growth opportunities. Nazara’s esports operations are largely housed under NODWIN Gaming, its esports and youth media subsidiary that manages gaming tournaments, creator ecosystems, and gaming events. NODWIN’s portfolio includes brands such as Freaks 4U Gaming, Trinity Gaming, Comic Con India, and Ninja Global. On the advertising technology side,…
Silicon Road Ventures (SRV) has partnered with Ajay Mahajan to launch a new alternative investment fund (AIF) focused on early stage startups building agentic AI solutions for the B2B commerce technology sector. The fund, which has received Category-II registration from the Securities and Exchange Board of India (SEBI), will operate with a corpus of ₹150 crore. According to Mahajan, the fund will back startups developing AI-driven solutions across areas such as multi-channel commerce, supply chain and logistics, fintech, retail operations, and consumer insights. Founded in 2019 by Sid Mukherjee, Silicon Road Ventures specialises in early stage investments spanning seed to…
InCred Capital has announced the acquisition and integration of S Cube Capital into its Singapore based entity, InCred Global Wealth Pte, subject to regulatory approvals. The acquisition is aimed at strengthening InCred Capital’s offshore investment and fund management capabilities by adding regulated fund vehicles to its Singapore platform. The deal also builds on the company’s earlier acquisition of Arrow Capital DIFC, further enhancing its ability to serve clients investing across the Singapore-GCC-India investment corridor. Singapore-based S Cube Capital is regulated by the Monetary Authority of Singapore (MAS) and focuses on institutional investment management with expertise across local and global markets.…
HrdWyr has raised $13 million in a Series A funding round led by Ideaspring Capital, with participation from Singularity AMC, Avatar Growth Capital, and existing investor Persistent Systems. The startup said the fresh capital will be used to accelerate the development of its AI-native System-on-Chip (AISoC) products and expand customer engagements across international markets. Founded by Ramamurthy Sivakumar, HrdWyr is a fabless semiconductor startup building AI-native chips designed for edge computing and physical AI applications. The company develops purpose built semiconductor solutions for sectors including consumer electronics, electric vehicles, industrial automation systems, and data centres. HrdWyr’s chips are designed to…
SCIKIQ has raised $1.5 million in a pre-Series A funding round led by Triton Fund II as the startup looks to expand its enterprise AI and intelligence platform globally. The company said the fresh capital will be used to strengthen its artificial intelligence capabilities, scale platform infrastructure, and accelerate international expansion efforts. Founded in 2023 by Gaurav Shinh and Rohit Kumar, SCIKIQ operates an AI-native enterprise intelligence platform designed to help organisations convert fragmented and siloed data into business ready intelligence. Its platform combines data governance, analytics, conversational AI, AutoML, and generative AI capabilities within a unified Data Hub architecture.…
Manipal Health Enterprises has acquired the Khubchandani Hospital property in Mumbai’s Andheri locality for ₹495 crore, marking one of India’s largest healthcare real estate transactions this year. According to property registration documents accessed by CRE Matrix, the transaction was officially registered on May 6, with stamp duty payments amounting to nearly ₹29 crore. The acquisition includes a land parcel measuring 752.77 square metres along with a hospital structure spread across a built-up area of over 20,663 square metres (around 2.2 lakh sq ft) in Andheri, Mumbai. The sellers in the transaction include Khubchandani Hospitals Private Limited, Khubchandani Properties and Investment…
MobiKwik reported an improvement in profitability for the fourth quarter of FY26, posting a net profit of ₹4.4 crore against a loss of ₹56 crore in the corresponding quarter last year. The fintech platform’s revenue from operations rose 8% year-on-year to ₹289 crore in Q4 FY26, compared to ₹268 crore in Q4 FY25, according to its unaudited financial statements filed with the National Stock Exchange of India (NSE). The company’s revenue during the quarter was primarily driven by commissions from recharge and loan servicing businesses, along with income from payment gateway and technology platform services. However, MobiKwik did not disclose…
Pine Labs has expanded its presence in the Philippines through a partnership with GCash for Business, the merchant solutions arm of the country’s leading digital wallet platform. Under the collaboration, Pine Labs will provide merchant payment infrastructure for GCash, enabling businesses to access features such as installment payment plans, loyalty rewards, cashback programmes, and support for multiple payment methods including card and QR-based transactions. The partnership is also aimed at strengthening digital payment access for micro, small, and medium enterprises (MSMEs) in the Philippines through Pine Labs’ commerce and point-of-sale technology stack. GCash for Business currently offers products such as…
Adda247 has reportedly laid off more than 200 employees, representing nearly 20% of its workforce, as the Google backed edtech startup restructures operations ahead of its planned initial public offering (IPO). According to a report by Business Standard, the layoffs were part of a broader organisational restructuring exercise aimed at improving operational efficiency and preparing the company for public market scrutiny. The exercise reportedly affected teams across product, design, content, CUET, UPSC, judiciary preparation, and teaching functions. The layoffs were carried out at the company’s Gurugram office on April 30. In a statement, Adda247 said it periodically reviews its organisational…