Budget 2025: Key Highlights and Important Announcements

Budget 2025: Key Highlights and Important Announcements

Summary of Budget 2025 Announcements: Finance Minister Nirmala Sitharaman presented the Union Budget 2025, emphasizing economic growth and inclusive development. The government envisions a ‘Viksit Bharat’ with zero poverty, quality education, and improved healthcare. Key Announcements: The budget outlines a vision for growth, innovation, and rural empowerment, aiming for a prosperous and self-reliant India. Union…

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Snabbit Raises $5.5 Million in Series A Funding to Expand On-Demand Home Services

Snabbit Raises $5.5 Million in Series A Funding to Expand On-Demand Home Services

Summary: Snabbit, a Mumbai-based app providing on-demand home services like cleaning and laundry, has secured $5.5 million in Series A funding led by Elevation Capital, with Nexus Venture Partners and angel investors also participating. Founded in 2024 by Aayush Agarwal, Snabbit employs a full-stack approach, managing everything from sourcing and training to workforce benefits, ensuring…

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BlueMedix has raised $5 million in a pre-series funding round led by a Dubai-based family fund

Summary: BlueMedix, a leading retail pharmacy chain in Eastern India, has raised $5 million in a pre-series funding round led by a Dubai-based family fund. With 130 stores across Bihar, Jharkhand, UP, and MP, the company plans to expand nationally, targeting South, West, and Central India. The funding will support geographic growth, the establishment of…

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Sarla Aviation Secures $10 Million to Transform Urban Transportation with Electric Air Taxis

Sarla Aviation Secures $10 Million to Revolutionize Urban Air Mobility Bengaluru, January 16, 2025 — Sarla Aviation, an innovative aerospace startup named in tribute to Sarla Thukral, India’s first woman pilot, has successfully raised $10 million in a funding round led by venture capital firm Accel. The funding round also featured contributions from prominent angel…

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Zomato Raises ₹8,500 Crore in QIP to Support Expansion Plans

Zomato Raises ₹8,500 Crore in QIP to Support Expansion Plans

Zomato, the popular food delivery platform, has successfully raised ₹8,500 crore through a Qualified Institutional Placement (QIP) of equity shares. The offer, which opened on November 25 and closed on November 28, was approved by Zomato’s Fund Raising Committee. This capital infusion marks a crucial milestone in the company’s ongoing expansion strategy, particularly in the…

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Hyderabad-Based Water-Tech Startup Althion Secures ₹3.6 Crore in Pre-Series A Funding

Hyderabad-Based Water-Tech Startup Althion Secures ₹3.6 Crore in Pre-Series A Funding

Althion, a water-tech startup based in Hyderabad, has raised ₹3.6 crore in its pre-Series A funding round. The round was primarily led by BioAngels, powered by IAN Group, with additional support from investors such as Arun Seth, Om Manchanda, KNK Venkatraman, and Shubham Rastogi. This fresh capital will enable Althion to expand its innovative water…

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The Indian government has abolished the angel tax, formally known as Section 56(2)(viib) of the Income Tax Act, which was introduced in 2012 to target investments in unlisted companies.

In a bid to enhance the startup ecosystem and promote innovation in India, Finance Minister Nirmala Sitharaman announced the removal of the angel tax.

Summary: In a bid to enhance the startup ecosystem and promote innovation in India, Finance Minister Nirmala Sitharaman announced the removal of the angel tax. The angel tax, introduced in 2012 under Section 56(2)(viib) of the Income Tax Act, imposed a tax on premiums paid by investors above the fair market value of shares in…

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Global Microsoft Outage Hits Banks, Airlines, and Broadcasters

A major global outage of Microsoft services on Friday disrupted banks, airlines, and media broadcasters, despite Microsoft’s efforts to resolve the issue

A major global outage of Microsoft services on Friday disrupted banks, airlines, and media broadcasters, despite Microsoft’s efforts to resolve the issue. The exact cause and scale of the outage remain unclear. Escalating disruptions were reported worldwide, affecting major entities like Visa, ADT security, Amazon, American Airlines, Delta, Australian banks, and media outlets. Microsoft’s updates…

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Google has announced a significant price reduction for Google Maps services in India and will begin accepting payments in Indian rupees starting August 1, 2024.

Google has announced a significant price reduction for Google Maps services in India and will begin accepting payments in Indian rupees starting August 1, 2024.

Google has announced a significant price reduction for Google Maps services in India and will begin accepting payments in Indian rupees starting August 1, 2024. This move follows the recent launch of Ola Maps by ride-hailing giant Ola, which offers competitive pricing and billing in Indian rupees. Ola’s transition to its own mapping solution is…

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WazirX Faces Security Breach After Suspicious $230 Million Transfer

WazirX Faces Security Breach After Suspicious $230 Million Transfer

Indian cryptocurrency exchange WazirX suffered a security breach on Thursday, resulting in the temporary suspension of all withdrawals. The breach involved the transfer of approximately $230 million from one of WazirX’s multisig wallets to an unknown address. Web3 security firm Cyvers reported the suspicious activity, leading WazirX to confirm the breach and pause withdrawals to…

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