Discover more from Rise & Shine ☀
Gaming Giants' Tax Woes🎮, Amazon's $4 Billion Bet on Anthropic 🤖
Flipkart's Startup Boost, Pocket FM's 100 Million Milestone, Bluestone's Rs 550 Cr Ascent, Funding Deals and more.
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💰 Tax Troubles for Dream11 and Gaming Giants: Rs 55,000 Crores in GST Demands 🎮
Online gaming giants, including the fantasy sports titan Dream11, are facing a financial tsunami as the Directorate General of GST Intelligence (DGGI) serves them with a staggering demand of approximately Rs 55,000 crores in Goods and Services Tax (GST). This colossal notice, amounting to possibly the largest indirect tax claim in India's history, raises significant concerns for the online real money gaming (RMG) sector, hinting at deeper financial scrutiny ahead. 🧾📢💥
🤖 Amazon Pours $4 Billion into AI Unicorn Anthropic 🤝
Amazon, the tech behemoth, has just made a colossal $4 billion bet on artificial intelligence (AI) by funneling it into Anthropic, a prominent AI startup. This strategic move demonstrates Amazon's unwavering commitment to advancing its presence and influence in the ever-evolving AI landscape.🔍
💡 Flipkart Ventures Powers Up 5 Promising Startups 💼
Flipkart Ventures is on a roll, fueling innovation through its accelerator program, Flipkart Leap Ahead (FLA). This time, it's backing five budding startups - Algomage, Castler, FlexifyMe, NimbleBox.ai, and ReCircle for their potential to bring about technological advancements across various sectors.⚡📈
🎧 Pocket FM Strikes a Chord with 100 Million Downloads📱
Pocket FM is making waves in the audio content world! The platform recently hit a remarkable milestone, crossing 100 million downloads on the Google Play Store. Since its inception in 2018, Pocket FM has been dishing out a diverse array of content across genres and languages, captivating listeners of all interests and age groups.🌟🎉📚
Jewellery e-tailer Bluestone is raising Rs 550 crore from a clutch of high net worth individuals, startup founders and institutional investors. Ranjan Pai, chairman of Manipal Group, Info Edge Ventures and Zerodha co-founder Nikhil Kamath will be investing Rs 100 crore each. The Remaining Rs 250 crore will be pumped by Zomato and CarDekho co- founders and chief executives Deepinder Goyal and Amit Jain, IIFL and other existing backers.
Tech-enabled QSR specialty coffee chain abCoffee has raised $2 million in its seed round led by Tanglin Venture Partners. 100X .VC, Panthera Peak, OTP Venture Partners and other angel investors also joined the firm’s maiden round.
Autocracy Machinery, a manufacturer of trenching, turf and construction machinery, has raised a $1.2 million in its seed round led by Venture Catalysts.
Online visa application platform StampThePassport has raised Rs 4 crore in a pre-seed round from angel investors and private families.
Ambulance service provider DIAL 4242 has raised Rs 1 crore in its seed round led by investors G Vamshi Raju, Starfish Ventures, and a clutch of angel investors based in Hyderabad.
Tweet of the day🐥
“Curiosity is the highest form of humility.”
- Jamie Dimon
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