India’s startup and tech ecosystem continues to heat up with major developments across funding, acquisitions, and innovation. From fashion delivery and gaming startups raising fresh capital to strategic investments in AI and EVs, the momentum is strong.
Slikk to Raise $10 Million in Funding Led by Nexus
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Slikk, a fashion delivery startup promising 60-minute deliveries, is reportedly set to secure $10 million in a funding round led by Nexus Venture Partners. This investment aims to enhance Slikk's rapid delivery infrastructure and expand its market presence.
xAI Acquires AI Video Startup HotShot
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Elon Musk's artificial intelligence company, xAI, has acquired HotShot, a startup specializing in AI-driven video generation tools. This strategic move is expected to strengthen xAI's position in the generative AI market and enhance its chatbot platform, Grok, with advanced video capabilities.
Qila Games Secures $1 Million from Chimera VC and Others
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Qila Games, a gaming startup, has raised $1 million in funding from Chimera VC and additional investors. The capital will be used to develop new gaming titles and expand its user base in the competitive gaming industry.
Fractal Invests $20 Million in Asper.ai
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AI unicorn Fractal has invested $20 million into its product company, Asper.ai, to bolster its capabilities in artificial intelligence and machine learning, aiming to deliver more innovative solutions to clients.
Hindalco Announces Rs. 45,000 Crore Investment in Aluminium and Copper Sectors
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The Aditya Birla Group's Hindalco plans to invest Rs. 45,000 crore over the next 3-4 years to enhance its aluminium and copper businesses, signalling a significant commitment to strengthening its position in the metals industry.
Mergers and Acquisitions:
- Prudential Plc has partnered with HCL Group’s Vama Sundari Investments to launch a standalone health insurance venture in India.
- Bajaj Finserv is set to take full control of its life and general insurance arms by acquiring Allianz’s 26% stake for €2.6 billion.
Other news:
- Michael Seibel, a key figure at Y Combinator, has stepped down after over a decade, marking a significant leadership shift at the renowned startup accelerator.
- Sri Padmavati Mahila Visvavidyalayam (SPMVV) recently held a seminar titled ‘Idea to Icon,’ focused on startup scaling and growth strategies for young entrepreneurs.
- The Assam government has unveiled the Assam Awards 2025 intending to support 5,000 startups in the next five years as part of its ambitious entrepreneurship drive.
- PUSA Krishi and ICAR-IARI have launched a five-day faculty development program to strengthen startup mentorship and innovation in agri-tech.
- Xiaomi India President Muralikrishnan B has announced the company's strategic focus on premium products and Artificial Intelligence of Things (AIoT) to strengthen its market position and cater to evolving consumer preferences in India.
- Mahindra is set to unveil its XEV 9e and BE 6e electric SUVs in India this month at the 'Unlimit India' event, marking a significant step in the company's electric vehicle strategy and commitment to sustainable mobility solutions.
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