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This week funding: www.google.com/url?q=...
Funding chart: docs.google.com/spreadsheets/...
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00:00 Ola vs Microsoft
01:27 Zomato closed FY24 with four consecutive profitable quarters
03:16 Urban Company becomes profitable for the first time
04:19 IPO News: Digit IPO opens and Awfis IPO date announced
05:32 Hanooman AI goes live
06:05 Funding news
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Ola vs Microsoft:
1. He has decided to move Ola out of Microsoft’s cloud platform Azure to their Krutrim Cloud.
2. The whole thing started with a post Bhavish made on LinkedIn - calling the usage of the term “they” an illness and said that their AI moderation was “imposing a political ideology on Indian users”.
3. This led LinkedIn, which is owned by Microsoft, to remove his post for violating their community guidelines. Bhavish went ahead an wrote a detailed blogpost, which detailed the actions he wanted to take against big tech monopolies like Linkedin.
Zomato closed FY24 with four consecutive profitable quarters:
1. As Zomato shared their latest financials, the company managed to stay profitable for four consecutive quarters - staying profitable for an entire year - which is a first for the company.
2. They closed FY24 with 351 crore rupees in profits after tax on revenue of 12,961 crore rupees.
3. Zomato wasn’t the only star in their growth story this year. Zomato’s star is their quick commerce arm Blinkit.
Urban Company becomes profitable for the first time:
1. Abhiraj Singh Bhal, one of the co-founders of the Urban Company, announced on social media that his company has turned profitable for the first time ever in April 2024.
2. In Urban Company’s case, they are profitable at the PBT level - which means Profit Before Tax.
3. This number was 7 crore rupees for the month of April as reported by Entrackr.
IPO News: Digit IPO opens and Awfis IPO date announced:
1. insurance company Go Digit, whose IPO opened on 15th May, is raising 1,125 crore rupees in fresh capital and another 1,489.65 crore rupees by selling existing 5.48 crore shares through the offer for sale component
2. Each share has a fixed price band of 258 to 278 rupees.
3. Awfis is all set to open their IPO on 22nd May and they are planning to raise anywhere between 576 crore rupees to 599 crore rupees.
Hanooman AI goes live:
1. The generative AI platform Hanooman, which has been developed by Seetha Mahalakshmi Healthcare (SML) and 3AI Holding, was launched last week.
2. Available in 98 global languages (12 of which are Indian), it is claimed to be the “largest multilingual and most affordable Gen AI platform”.
3. The platform wants to get 200 million users in the first year of their launch.
Funding news:
1.This week, Indian startups raised a total of 51 million dollars.
2. Hyderabad-based on-demand ambulance provider RED.Health has raised 20 million dollars, in their series B round.
3. Bengaluru-based startup Rupeek, which lets you avail loans against your gold, has raised almost 6 million dollars in their latest funding round.
4. Mumbai-based Celcius Logistics has raised 4.79 million dollars in their pre-Series B round.
5. Pune-based Matel Motion has raised 4 million dollars in their series A round.
6. Bengaluru-based Sarla Aviationhas raised an undisclosed amount of funds in their pre-seed round.
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