TL;DR:
- The Delhi High Court has ordered messaging platforms Whatsapp and Telegram to take down accounts impersonating Peak XV and Sequoia.
- Edtech unicorn Byju’s is attempting to raise $200 million from existing investors at a valuation of $225 million, significantly lower than its previous funding round valuation of $22 billion.
- Shareholders of Aakash Institute have expressed concerns over Ranjan Pai’s $300 million conversion proposal, with Blackstone and Prosus NV writing to BYJU’s parent entity Think and Learn about the matter.
- Switzerland-based ResponsAbility is set to invest $25 million in BluSmart to help expand its electric vehicle charging infrastructure across India.
- The National Highways Authority of India (NHAI) has barred Paytm Payments Bank from issuing fresh FASTags following an audit that found the bank was not following prescribed parameters.
- The Visa Accelerator Program 2024 is inviting applications from growth-stage fintech start-ups, focusing on the development of proof of concept, product solutions, and fast-tracked commercialization.
- Advertising ops platform ClearTrust has raised $1.9 million in pre-Series A funding led by Ideaspring Capital and others.
- Priyanka Gill, the new venture partner at Kalaari Capital, will promote women entrepreneurs and oversee the investment firm’s D2C companies.
- Equirus has launched the $25 million Equirus InnovateX Fund.
- WeWork Labs has launched Jumpstart 2024 to support early-stage start-ups.
The article features key news and updates within the Indian start-up ecosystem. The Delhi High Court has taken action against impersonation accounts on messaging platforms, while edtech unicorn Byju’s aims to raise a smaller funding round from existing investors. Shareholders have expressed concerns over a conversion proposal, and an investment is set to support electric vehicle infrastructure. Additionally, the NHAI has prohibited Paytm Payments Bank from issuing fresh FASTags, and the Visa Accelerator Program is inviting fintech start-ups to apply. ClearTrust has raised significant funding, and Kalaari Capital has a new venture partner focused on women entrepreneurs. Lastly, Equirus has introduced a new fund, and WeWork Labs has launched a program to support early-stage start-ups.
