IndiQube to raise ₹700 cr. via an IPO
The offer includes a reservation of Equity Shares of face value of ₹1 each, aggregating up to ₹15 million for subscription by Eligible Employees, according to a company communique. The IPO will open for public subscription on July 23 and conclude on July 25.
Founded in 2015, IndiQube offers flexible workspace solutions for various businesses, including enterprises, startups, and SMEs.
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Hindustan Times
29 minutes ago
- Hindustan Times
AI Finance App Ramp Is Valued at $22.5 Billion in Funding Round
Ramp, a startup that uses artificial intelligence to automate corporate finance tasks, on Wednesday said it had raised $500 million in its latest funding round. Eric Glyman, co-founder and chief executive of Ramp, said thousands of customers have tried the company's first AI agent. The Series E-2 round, led by Iconiq Growth with participation from existing investors including Founders Fund and D1 Capital Partners, values the startup at $22.5 billion, it said. The infusion of new capital will go toward hiring engineers, product experts and marketing and sales staff who will focus on building and selling Ramp's AI agents, according to co-founder and Chief Executive Eric Glyman. The startup is best known for its corporate credit card and its expense management system. Ramp's fundraise coincides with the fast-paced growth of AI agents, the autonomous bots that can perform tasks on behalf of humans. The New York City-based startup's AI agent focuses on helping corporate finance teams automate tedious aspects of their work, such as compliance for employees' expense reports. Future versions will help procurement teams manage their daily tasks and streamline bookkeeping, Glyman said. 'Functionally, we're teaching software to think like people,' he said. The future of corporate finance, Glyman added, will be much more automated. Since launching its first AI agent earlier in July, Ramp said thousands of customers have signed on to try it. Richard Gobea, a finance manager at Quora, said the question-and-answer website is using Ramp's AI agent to automate the work of an entry-level accountant or clerk who typically checks employee expenses against a corporate policy document. 'I'm spending my time digging in a little more on the expenses the AI agent is flagging,' Gobea said. Founded in 2019, Ramp said it has over 40,000 businesses using its products, including several in the Fortune 100, and about 1,200 employees. It had over 15,000 customers in 2023. Ramp said it began generating cash flow earlier this year, with $700 million in annualized revenue in March. It declined to say what its current revenue is. The company's platform is built on AI models from OpenAI, Anthropic and others, which Glyman said are capable of 'reasoning' through corporate policy documents, for example, to automatically suggest changes based on employee activity. Ramp predicts and completes employees' expenses using transaction data, historical patterns, and context from tools like Gmail and Google Calendar, it said. If more information for an expense is needed, employees get a verification message through SMS. Ramp then checks corporate policy, routes the expense for review if needed, and automatically codes it. Ramp's budgeting agent, which the company is planning to release, will be capable of proactively flagging a company's financial planning and analysis team to approve a bill—before it reaches the chief financial officer, according to Gobea, Quora's finance manager. Still, not all finance teams are ready to jump on the AI-agent bandwagon, and Ramp faces off against competitors from payments startup Brex, which also offers a corporate card solution and expense platform, to giants like SAP and American Express. Its rivals are also integrating AI agents into their products. The practical value of AI agents, while widely touted by software vendors, is still up in the air for businesses. For business leaders, that skepticism spans across corporate functions—from software development to information technology, sales, marketing, human resources and finance. Part of Ramp's challenge will be convincing CFOs and chief information officers that its AI agents are worth investing in—and are reliable—especially given the abundance of other business automation and AI options to choose from. Some fintechs are still in recovery mode following a period of high interest rates, in which investment in private fintech firms fell 46% globally in late 2023. While Ramp did raise $300 million that year, it was at a valuation of $5.8 billion—short of the $8.1 billion valuation at a fundraising round in early 2022. Ramp raised $200 million about a month ago in a Series E round at a valuation of $16 billion. The latest round brings Ramp's total capital raised to $1.9 billion. Write to Belle Lin at
The Hindu
29 minutes ago
- The Hindu
Major tax fraud uncovered in Telangana; bogus copper supplies used to claim ₹33.2 crore input credit
The Telangana State Commercial Taxes department has exposed a tax fraud involving M/s Keshaan Industries LLP, a Hyderabad-based private firm. The company is accused of generating high-value tax invoices without any actual movement of goods. Following credible intelligence, inspections were carried out at the company's corporate office on SP Road in Hyderabad, a godown in Bansilalpet, Secunderabad, and two factory units located in Kalakal Automotive Park and Muppireddypally villages in Medak district. Commissioner of Commercial Taxes K. Haritha said the company issued invoices for the supply of copper materials, but vehicles left Telangana empty while documents falsely showed they were transporting goods to Maharashtra. 'Toll gate records obtained from the National Highway Authority of India confirmed that vehicles passed through key checkpoints without carrying any cargo, contradicting the details in the e-way bills,' she explained. Preliminary findings suggest that fraudulent invoices worth over ₹100 crore were generated in this manner. The company allegedly availed Input Tax Credit (ITC) of approximately ₹33.2 crore using these false transactions, thereby lowering its tax liability. This method of raising invoices without actual supply of goods has been described by the Commissioner as the first such case detected in Telangana. 'The department considers it a serious development indicating a new and sophisticated form of GST-related fraud,' she said. During the inspections, officials seized crucial documents, including books of accounts, registers, hard disks and CCTV footage. A formal complaint has been filed with the DCP of the Central Crime Station (CCS) in Hyderabad, requesting the registration of a criminal case against the company's directors, Vikash Kumar Keeshan and Rajneesh Keeshan. In a related incident, another case of fraudulent e-way bill generation has come to light. Majid Hussain, Deputy State Tax Officer from Mehdipatnam 1 Circle, Charminar division, found that vehicle number AP29TA7213 had remained immobile since June 2025. Despite this, several e-way bills were generated using the same registration number by different taxpayers. There was no movement of goods. This act is considered a violation of the CGST Act, 2017, and is suspected to involve criminal intent under Sections 318 and 336 of the BNS. A separate complaint has been filed, seeking the registration of an FIR against the vehicle owner.
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First Post
29 minutes ago
- First Post
Does self-pleasure boost productivity? Swedish firm offers 30-minute masturbation breaks to employees
Erica Lust, the founder of a Swedish adult entertainment company, said she started offering 30-minute masturbation breaks to her employees during Covid-19 as a means to reduce stress. The experiment soon received a positive response, with employees feeling 'less aggression' and 'more productive', prompting the firm to make the policy permanent. So, how does self-pleasure impact your productivity? read more Erika Lust, the Barcelona‑based owner of an adult entertainment company, now gives her employees a daily 30-minute masturbation break to cope with stress at work. AI generated Image for Representation. Pixabay Coffee breaks, smoke breaks and even quick bathroom runs have long given employees a moment to recharge during busy workdays. But one boss has taken workplace timeouts to a completely new level. Erika Lust, the Barcelona‑based owner of an adult entertainment company, now gives her employees a daily 30-minute masturbation break dedicated entirely to 'self‑pleasure.' The idea began as an experiment during the Covid‑19 lockdowns, when Lust noticed rising anxiety among her staff. But within a year, the results were clear: employees reported feeling 'less aggression' and 'more productive' after their daily breaks, prompting Lust to make the policy permanent. STORY CONTINUES BELOW THIS AD But does masturbation really come with health benefits? And can it genuinely help reduce stress? Here's what we know. Inside Erika Lust's 'masturbation station' experiment What started as a bold idea to fight workplace stress during the pandemic has now become one of the most talked‑about company policies in the world. In 2021, Lust launched a trial scheme giving employees a daily 30‑minute masturbation break and even set up a private room in her office for it. Lust said the room, nicknamed the 'masturbation station,' gave staff a safe, comfortable space to unwind, and it has been so well received that sex toy manufacturers have even supplied the company with tools to help get the job done. 'I value my employees and I know that when they feel good, we do good work. There is nothing more harmful to a successful work environment than stress,' Lust told The News Movement. Erika Lust set up a masturbation station" in her office that gave staff a safe, comfortable space to unwind. Image courtesy: WIkimedia Commons But the policy, she explained, was about more than just helping her team cope with lockdown anxiety. 'I also wanted to do something to normalise masturbation on a broader scale. Sexual wellbeing is deeply intertwined with your overall mental health and physical health and should be treated with the same respect and resources,' Lust said. Erika told The News Movement that her staff swears by the re-worked version of the famous 'An apple a day' proverb. 'We always laugh at, 'An apple a day keeps the doctor away…as an orgasm a day..' Is masturbation really healthy? Experts agree that masturbation, when done in moderation, offers a range of physical and mental health benefits. According to the Cleveland Clinic, self‑pleasure triggers the release of hormones such as dopamine, oxytocin, prolactin and endorphins, which can lift mood, reduce stress levels and even promote better sleep. Sex therapists say it can be an effective way to relax and release pent‑up tension. 'Masturbation is healthy. Masturbation is typical, normal… sometimes to relax, sometimes to experience pleasure, sometimes to relieve anxiety or self‑medicate against some kind of difficult mood or emotion,' explained Ian Kerner, a sex therapist and author, in an interview with InsideHook. STORY CONTINUES BELOW THIS AD Self‑pleasure triggers the release of hormones such as dopamine, oxytocin, prolactin and endorphins, which can lift mood, reduce stress levels and even promote better sleep. Image for Representation Medical studies have also linked masturbation to improved blood circulation to the genital area, which may benefit prostate health in men and reduce the risk of urinary tract infections by flushing out bacteria. It can also support better sexual function. For women, orgasms from sex or masturbation can strengthen the pelvic floor muscles, a group of muscles in the lower abdomen that support the bladder, bowel and uterus. This, in turn, can help combat leakage and incontinence, an issue that affects about one in three women at some point in their lives. Masturbation can also boost self‑esteem and give people a stronger sense of self‑knowledge and control over their bodies. All of these things are good for your self‑image, well‑being and ability to withstand life's stresses, notes Verywell Mind. But while the health benefits of masturbation are clear, whether the workplace is the right place for it remains a topic of debate. What are your thoughts? STORY CONTINUES BELOW THIS AD With input from agencies
