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Time of India
a day ago
- Business
- Time of India
New bill riles online gaming; De minimis blow to Indian exports
New bill riles online gaming; De minimis blow to Indian exports Want this newsletter delivered to your inbox? Also in the letter: Cabinet approves bill to ban real money in online games Driving the news: But why? According to the draft note presented to the Cabinet, the unchecked rise of online money games has led to 'addiction, debt traps, suicides and mental health issues.' The government also flagged fraud risks and national security threats linked to these platforms. At the same time, the note suggests that bringing online gaming and e-sports under a legal framework will enable healthier growth for the sector. Fallout: Regulator on the cards: Also Read: US rocks boat of cross-border payment firms Driving the news: Gauging impact: The change will weigh heavily on small and micro sellers who relied on tariff-free entry to stay price-competitive and lack the resources to handle higher duties and complex paperwork. Regulatory scrutiny: Is India ready to take the AI leap, build its own ChatGPT? This and more at the ET Soonicorns Summit 2025! Tell me more: Kissht files draft papers for public listing Key details: Fresh issue: Rs 1,000 crore Rs 1,000 crore Offer for sale: 8.8 million shares 8.8 million shares Selling shareholders: Vertex Ventures, Ventureast, Endiya Seed, Aion Advisory Services Vertex Ventures, Ventureast, Endiya Seed, Aion Advisory Services Pre-IPO placement: Rs 200 crore Use of proceeds: Peer review: Financial snapshot: Operational revenue: fell 20% to Rs 1,337 crore fell 20% to Rs 1,337 crore Net profit: dropped 19% to Rs 160 crore dropped 19% to Rs 160 crore Loan disbursals: slumped 47% to Rs 9,857 crore Manufacturing supply chain startup Keychain raises $30 million Snapshot: Tell me more: Weaver raises Rs 1,482 crore for housing finance push Why it matters: India's housing finance market remains under-penetrated, especially in smaller towns where formal credit is scarce. Weaver is betting on AI-driven underwriting and alternative data to speed up approvals and limit risk. Investor insight: Filter Capital, 3one4 back D2C brand R for Rabbit in $27 million deal Adding context: India's baby care market is expanding quickly as rising incomes and awareness drive demand for safer, high-quality products. The brand plans to use the fresh capital to expand distribution, accelerate its omnichannel play, and push product innovation. Bullish investors: Other Top Stories By Our Reporters Enterprise sales success hinge on value: Mumbai rains disrupt deliveries: India eyes .Bharat, .India domains next year: Global Picks We Are Reading Happy Wednesday! A new bill proposing a ban on real-money games ruffles industry feathers. This and more in today's ETtech Morning Dispatch.■ Kissht DRHP■ ETtech Done Deals■ Enterprise tech salesThe Union Cabinet on Tuesday cleared a draft bill to regulate India's booming online gaming and e-sports industry. With Cabinet approval secured, the bill is set to be introduced in the Lok Sabha on bill marks a decisive move to prohibit real-money online gaming. It introduces sweeping measures – banning not only the games themselves, but also ads promoting them and financial transactions enabling such startups have written to the country's home minister Amit Shah, saying that the bill could be a 'death knell' for the sector. The letter, reviewed by ET, claims that over 200,000 skilled jobs are at risk, and that the sector has attracted Rs 25,000 crore in foreign direct investment across 400+ also said the government could lose Rs 20,000 crore in taxes if a blanket ban goes bill also proposes a new regulatory authority to oversee online gaming. This body will register games, flag real-money formats, and replace the self-regulatory framework the IT ministry had floated in ecommerce exporters face a sharp hit after the US scrapped a rule that let shipments worth under $800 enter Trump 2.0 administration's sweeping tariff changes are beginning to bite Indian industries, particularly ecommerce. Founders of cross-border payment startups say the blow could erase 15–25% of ecommerce volumes headed to the insiders estimate that nearly 40% of Indian goods shipped to the US used the de minimis exemption to avoid import duties and payments remained lightly regulated in India until 2023, when the Reserve Bank introduced detailed reforms. These rules set a minimum capital requirement of Rs 15 crore and a licensing criteria for players entering the such as Skydo, PayGlocal, and BriskPe are now awaiting RBI clearance to fully launch ET Soonicorns Summit is back, all set to do what it does best —mapping the future of Indian startups! The 2025 edition brings artificial intelligence (AI) to centre stage, with important discussions including: Can India build its own ChatGPT or DeepSeek?Listen in to the likes of Vishnu Vardhan, cofounder and CEO of Hanooman AI; Sandeep Alur, CTO, Microsoft Innovation Hub, Microsoft India, Shalini Kapoor, strategic advisor, data & AI, EKStep; Vikram Sampath, cofounder NAAV AI; Ankush Sabhrwal, founder and CEO and CTO of CoRover AI, and Debayan Dasgupta, cofounder of Theranautilus, as they decipher this important question and decode the Indian startup ecosystem's AI-led future in the global GenAI race and the country's unique definitive answers to where investors are betting to put their money. The panel 'AI investments in India—chasing hype or backing real disruption' will decipher what kind of AI models are attracting VCs who are writing cheques for ambitious AI startup founders, separating hype from real problem-solving potential and sharing insights on AI infrastructure panel will feature Rutvik Doshi, MD and general partner, Athera Venture Partners; Manav Garg, cofounder and managing partner, Together Fund; Sanjay Swamy, managing partner and cofounder, Prime Venture Partners; and Manish Singhal, founding partner, pi Ventures, brainstorming to find the answers.(L-R) Krishnan Vishwanathan and Ranvir Singh, cofounders, KisshtOnEMI Technology Solutions, the operator of fintech lending platform Kissht, has filed draft papers with the markets regulator for its initial public offering Kissht plans to channel Rs 750 crore from the net IPO proceeds into its in-house non-banking finance company (NBFC), Si Creva. The balance will go towards general corporate is among the first digital lending startups to reach this stage. Moneyview is also preparing its filing, while Kreditbee, as ET reported on July 23, secured board approval to convert into a public limited company ahead of an company's business was hit by a slowdown in consumer lending in FY25, as we reported.(From left) Keychain founders Jordan Weitz, Oisin Hanrahan and Umang DuaKeychain, a New York and Gurgaon-based manufacturing supply chain startup, has raised $30 million in a funding round led by Wellington Management, with participation from BoxGroup and in 2024, the company connects consumer packaged goods (CPG) companies with suppliers of packaging materials and raw inputs. Its client list already includes 7-Eleven, Whole Foods, Hershey's, and General fresh capital will fuel Keychain's push into new markets and industries, while also backing the development of its AI-native enterprise resource planning platform, KeychainOS. Designed to be deployed faster than traditional ERP tools, the system will sit at the heart of the company's growth strategy, founder Umang Dua told Bhattacharya, founder, Weaver ServicesWeaver Services, a new housing finance platform, has raised $170 million (Rs 1,482 crore) in a funding round led by Lightspeed and Premji Invest, with Gaja Capital also participating. The fresh funding will be used to fund these buys, extend market reach, and strengthen its technology by former HDFC executive Satrajit Bhattacharya and veteran Anil Kothuri, Weaver's deal ranks among the largest recent bets on affordable housing finance in India.D2C baby care brand R for Rabbit has secured $27 million in a funding round led by Filter Capital and 3one4 Capital. The mix of primary and secondary capital investment also facilitated an exit for early investor Xponentia Capital, which had pumped in Rs 40 crore in deal highlights growing investor interest in niche consumer brands with clear category leadership and scale technology companies are seeing a shift in sales with customers expecting them to demonstrate clear value for investments amid rising competition and macroeconomic uncertainty amid rising adoption of AI, multiple executives told delivery and quick commerce platforms suspended operations for several hours in areas experiencing severe waterlogging, while delivery partners demanded an increase in the rain fee from Rs 20 to Rs Internet Exchange of India (Nixi), the nodal agency managing the country code top-level domains, is looking to secure '.India' and '.Bharat' domains at the next new generic top-level domain (gTLD) auction slated to open next year, chief executive Devesh Tyagi told us.■ OpenAI is poised to become the most valuable startup ever. Should it be? ( Wired ■ Nvidia said to be developing new, more powerful AI chip for sale in China ( Techcrunch ■ How North Korea's IT army is hacking the global job market ( Axios
Skift
13-08-2025
- Business
- Skift
Vacation Rental Platform Elivaas Raises $10 Million to Fuel India and Global Expansion
Luxury villa rental platform Elivaas has raised INR 870 million ($10 million) in its Series B funding round. The funding was led by Vertex Ventures Southeast Asia & India, and existing investors Peak XV Partners' Surge and 3one4 Capital also participated in the round. This funding comes nearly a year after Elivaas raised $5 million last September. With the money from its latest funding round in hand, Elivaas is looking to deepen its market penetration, the company said in a statement. It is looking to double down on its presence in high-potential leisure and business travel destinations across India. 'We see a fast growing opportunity to leverage second homes supply to provide premium travel experiences in India via alternate accommodation. Elivaas is best suited to capture this market,' said Nikhil Marwaha, partner at Vertex Ventures Southeast Asia & India. Elivaas is also not limiting its ambitions to India and aims to expan
National Post
24-06-2025
- Business
- National Post
SWARM Biotactics Raised €13M to Advance Bio-Robotics From Lab to Field
Article content KASSEL, Germany & SAN FRANCISCO — SWARM Biotactics, developer of bio-robotic systems based on fully controllable living insects for mission-critical operations, has secured €10 million in seed funding, bringing its total raised to €13 million, including a €3 million pre-seed. The round was backed by a consortium of international investors from Europe, the United States, and Australia, including Vertex Ventures US, Possible Ventures, and Capnamic, who was the first investor in the pre-seed round. Several early backers also increased their stakes in the oversubscribed round. Article content SWARM Biotactics secures €13 M seed funding to scale insect-based bio-robotic swarms, delivering silent ISR and real-time data for defense, security and disaster response in high-risk, denied terrain beyond drone and robot reach. Article content UNMATCHED ACCESS FOR CRITICAL MISSIONS Article content SWARM Biotactics is creating a new category of robotics: living, intelligent systems designed for environments where machines can't go—cluttered, denied, and high-risk terrain. Bio-robotic swarms consist of cockroaches equipped with a custom-built backpack for control, sensing, and secure communication—enabling precise navigation and real-time data collection in the most inaccessible places. SWARM delivers highly scalable bio-robotic systems for defense, security, and disaster response. Article content 'We're entering a decade where access, autonomy, and resilience define geopolitical advantage,' said Stefan Wilhelm, CEO of SWARM Biotactics. 'Conventional systems fail where control is needed most—denied zones, collapsed infrastructure, politically complex terrain. Article content SWARM is the first company building an entirely new category of robotics: biologically integrated, Article content AI-enabled, and mass-deployable systems for persistent intelligence in places no drone or ground robot can reach. This funding moves us from deep tech to deployment—delivering the infrastructure democracies need to operate more smartly, more safely, and with total tactical awareness.' Article content SWARM will use the new funding to transition from advanced research to field deployment. Priorities include: Article content Launching operational pilots in Europe and North America with defense, national security, and emergency response agencies. Scaling production of proprietary sensor backpacks, neural interfaces, and swarm infrastructure. Expanding its R&D centers and its international go-to-market and engineering hub. Recruiting top talent in insect neurobiology, embedded AI, field robotics, and dual-use system integration. Article content 'Our mission is to build a scalable, dual-use intelligence platform that adapts to any terrain, threat, or mission,' Article content said Moritz Strube, CTO and co-founder. Article content 'This funding round validates the vision—and brings in the right global partners to help us scale.' Article content ABOUT SWARM BIOTACTICS Article content Founded in 2024, SWARM Biotactics develops fully controllable bio-robotic systems for defense, national security, disaster response, and industrial inspection. By combining biology with edge AI, swarm intelligence, and secure communications, SWARM delivers real-time data from the world's most inaccessible places. The company is headquartered in Kassel, Germany, with a U.S. subsidiary in San Francisco, California. Article content Article content Article content Article content
Yahoo
24-06-2025
- Business
- Yahoo
SWARM Biotactics Raised €13M to Advance Bio-Robotics From Lab to Field
KASSEL, Germany & SAN FRANCISCO, June 24, 2025--(BUSINESS WIRE)--SWARM Biotactics, developer of bio-robotic systems based on fully controllable living insects for mission-critical operations, has secured €10 million in seed funding, bringing its total raised to €13 million, including a €3 million pre-seed. The round was backed by a consortium of international investors from Europe, the United States, and Australia, including Vertex Ventures US, Possible Ventures, and Capnamic, who was the first investor in the pre-seed round. Several early backers also increased their stakes in the oversubscribed round. UNMATCHED ACCESS FOR CRITICAL MISSIONS SWARM Biotactics is creating a new category of robotics: living, intelligent systems designed for environments where machines can't go—cluttered, denied, and high-risk terrain. Bio-robotic swarms consist of cockroaches equipped with a custom-built backpack for control, sensing, and secure communication—enabling precise navigation and real-time data collection in the most inaccessible places. SWARM delivers highly scalable bio-robotic systems for defense, security, and disaster response. "We're entering a decade where access, autonomy, and resilience define geopolitical advantage," said Stefan Wilhelm, CEO of SWARM Biotactics. "Conventional systems fail where control is needed most—denied zones, collapsed infrastructure, politically complex terrain. SWARM is the first company building an entirely new category of robotics: biologically integrated, AI-enabled, and mass-deployable systems for persistent intelligence in places no drone or ground robot can reach. This funding moves us from deep tech to deployment—delivering the infrastructure democracies need to operate more smartly, more safely, and with total tactical awareness." FROM DEEP TECH R&D TO OPERATIONAL READINESS SWARM will use the new funding to transition from advanced research to field deployment. Priorities include: Launching operational pilots in Europe and North America with defense, national security, and emergency response agencies. Scaling production of proprietary sensor backpacks, neural interfaces, and swarm infrastructure. Expanding its R&D centers and its international go-to-market and engineering hub. Recruiting top talent in insect neurobiology, embedded AI, field robotics, and dual-use system integration. "Our mission is to build a scalable, dual-use intelligence platform that adapts to any terrain, threat, or mission," said Moritz Strube, CTO and co-founder. "This funding round validates the vision—and brings in the right global partners to help us scale." ABOUT SWARM BIOTACTICS Founded in 2024, SWARM Biotactics develops fully controllable bio-robotic systems for defense, national security, disaster response, and industrial inspection. By combining biology with edge AI, swarm intelligence, and secure communications, SWARM delivers real-time data from the world's most inaccessible places. The company is headquartered in Kassel, Germany, with a U.S. subsidiary in San Francisco, California. View source version on Contacts PRESS CONTACTinfo@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time of India
23-06-2025
- Automotive
- Time of India
Kazam raises $6.2 million to expand global EV infra
Bengaluru: Kazam, an electric mobility technology company based in Bengaluru, announced a $6.2 million Series B fundraise led by the International Finance Corporation (IFC), with participation from existing investors Vertex Ventures and Avaana Capital. The fresh capital will help Kazam expand its digital EV infrastructure offerings across markets and support the global shift towards sustainable transportation, founder and CEO Akshay Shekhar told TOI. The Series B round brings Kazam's total funding to $19.2 million, including $13 million in equity financing from earlier rounds led by Avaana Capital, Vertex Ventures, and Chakra Ventures. 'Kazam is building the digital infrastructure for EVs at scale, a critical piece in the global shift to clean mobility,' said Akshay Shekhar, CEO and cofounder, Kazam. 'IFC's backing is a strong signal of the role our platform can play in decarbonizing transportation across emerging markets.' IFC emphasised the role this investment will play in making charging infrastructure more accessible across the country. 'EVs are key to accelerating India's economic growth and energy transition. Kazam's approach will help scale the EV ecosystem and expand access to charging infrastructure, supporting the broader adoption of clean transportation across the nation,' said Wendy Werner, IFC's Country Head for India and Maldives. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like KAVA בכנרת - לחיות מול הפריים המושלם - החל הפריסייל במחירי השקה מיוחדים! Kava בכנרת Undo Avaana Capital's Swapna Gupta added, 'Kazam is building the energy gateway for mobility. Its approach to creating a scalable, interoperable digital ecosystem for the EV sector is pivotal for global adoption. As EVs evolve, Kazam will play a pivotal role in shaping the digital backbone of the future of transportation.' Kazam has witnessed significant growth, achieving revenues of $6 million in FY25, four times its FY24 revenues, and is targeting $12 million this fiscal year, with Ebitda positivity in sight. The company has onboarded over 68,000 chargers, enabled more than 5 million charging sessions, and facilitated over 45 GWh of energy, avoiding an estimated 46,000 tons of carbon dioxide. Over the month of May, the Kazam platform powered 25 million electric kilometers across 80 cities and ten countries. Founded in 2020, Kazam provides device-agnostic solutions for charging and battery swapping operators, OEMs, and fleet operators. Its software and hardware offerings enable seamless EV charging, making electric transportation more accessible across India. Kazam is also a founding alliance member of the Unified Energy Interface (UEI), an open protocol akin to UPI for energy. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
