PriyaPatelTLDR:
-upGrad plans to open 100 experience and learning centers with a commitment of Rs 100 crore.
-Papa Pawsome raises $400,000 in seed funding round led by Indian Angel Network.
-Yamaha Motor Co leads a $40 million investment in e-scooter start-up River.
-NBFC Mufin Green Finance raises Rs 140 crore in series B funding.
-Paytm is working with other banks to ensure continuity of UPI services on its app.
-Paytm, the Indian fintech owned by One97 Communications, is facing controversies as the Reserve Bank of India orders its payment bank arm to shut down its operations.
-Indian enterprise fintech industry projected to reach $20 billion by 2030.
-India’s solar rooftop scheme presents both opportunities and hurdles for energy start-ups.
-Keus, a smart home automation company, raises Rs 100 crore.
-Kolkata-based Snap-E Cabs raises $2.5 million in a pre-series A funding round led by IPV.
-WeWork Labs launches Jumpstart 2024 to back early-stage start-ups.
-India’s government initiates an AI-warehouse pilot project to reduce onion wastage.
-The RBI takes a bold stance with a self-regulatory organization for fintech.
In the Indian start-up ecosystem, upGrad has announced plans to open 100 experience and learning centers, committing Rs 100 crore for the venture. Papa Pawsome, a petcare start-up, has raised $400,000 in a seed funding round led by the Indian Angel Network. Yamaha Motor Co has led a $40 million investment in River, an e-scooter start-up, with the funds aimed at scaling up the distribution and service network. Meanwhile, NBFC Mufin Green Finance has raised Rs 140 crore in series B funding, stating that it will expand its operations in the down west region of India.
In other news, Paytm, the fintech owned by One97 Communications, is facing controversies following an order from the Reserve Bank of India to shut down its operations through its payment bank arm. However, Paytm is working with other banks to ensure continuity of UPI services on its app. In addition, a report projects that the Indian enterprise fintech industry will reach $20 billion by 2030, with the retail and MSME segments expected to move towards 100% digital.
India’s solar rooftop scheme presents opportunities and challenges for energy start-ups, including a lack of access to easy financing and low consumer awareness. Keus, a smart home automation company, has raised Rs 100 crore, while Kolkata-based Snap-E Cabs has raised $2.5 million in a pre-series A funding round. WeWork Labs has launched Jumpstart 2024 to support early-stage start-ups. The Indian government has initiated an AI-warehouse pilot project to reduce onion wastage. Finally, the RBI has taken a bold stance with the establishment of a self-regulatory organization for fintech.
