Week in Review 💡 (Aug 07 - Aug 12)
Don't miss out on this week's essential reading for every tech enthusiast and aspiring entrepreneur. Start your day, the smart way!
Welcome to our Week in Review!
We've got you covered from the latest trends to the most significant investments.
So sit back, relax, and catch up on all the news you need to know to stay ahead of the game.🛋️
Nykaa Q1 net profit rises 8%, revenue up 24%
FSN E-Commerce Ventures, the parent of omnichannel beauty and fashion platform Nykaa, said its net profit rose 8% to Rs 5.4 crore for the first quarter of ongoing fiscal 2024, while operating revenue grew 24% to Rs 1,422 crore.
Lok Sabha passes amendments to GST laws to levy 28% tax on online gaming
A month after the GST Council decided to impose a 28% tax on the full face value of online gaming, instead of levying it on gross gaming revenue (GGR), the Lok Sabha on Friday passed amendments to the Central, Integrated Goods and Services Tax (GST) laws to levy that tax.
Zerodha gets final nod for AMC licence from SEBI
Stock broking startup Zerodha has received the final approval from market regulator Sebi to launch its asset management business, chief executive Nithin Kamath announced.
Quick Recap of the Week
SBI to sell distressed loan accounts, including those backed by Anil Ambani, worth ₹96,000 crore: Report
Digital Personal Data Protection Bill passed in Lok Sabha
Paytm shares jump over 11% as Vijay Shekhar Sharma buys 10.3% stake from AntFin
RIL to invest ₹1.5 tn in the green energy business
Ananya Birla’s Svatantra buys Sachin Bansal’s Chaitanya for ₹1,479 crore
Elon Musk's X gives a massive payout to premium subscribers, netizens share details
Gaming major Krafton to invest another $150 mn in India
Tata Digital revenue up 13 times; Tata 1mg losses more than double
Zerodha allocates Rs 1,000 crore more to back startups via Rainmatter
Ola revenue doubles in FY22, but losses widen 36% to Rs 1,522 crore
Antler India launches ONDC-focused platform for founders
Let’s move on to the top funding deals from the week.
Disprz, the Chennai-headquartered corporate learning and skilling SaaS startup, has raised $30 million in a Series C funding round led by Lumos Capital and 360 ONE Asset.
Green energy company Waaree Energies has raised Rs 1,000 crore in a funding round led by investment firm ValueQuest.
Specialty chemicals company Harmony Organics has raised Rs 225 crore from Piramal Alternatives.
Debt recovery and legal automation platform Credgenics has raised $50 million in a Series B funding round led by Westbridge Capital and Accel.
Fitness tech platform All Is Well has raised $250K led by Bharat Founders Fund.
Electric vehicle fleet-as-a-service platform Bluwheelz has secured $500,000 in a seed funding round led by Faad Network.
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