Edtech firm Byju’s has moved the National Company Law Appellate Tribunal against the recent order of NCLT. The company is seeking an urgent hearing on the matter. Earlier this week, Byju’s had said it is hopeful of reaching “an amicable settlement” with the Board of Control for Cricket in India.
Lenskart, an omnichannel eyewear retailer, raised $20 million from founders and investors. Peyush Bansal led the funding round with an investment of Rs 70.70 crore, followed by Neha Bansal with Rs 70.39 crore. Last year, Lenskart had raised a total of $600 million from Abu Dhabi Investment Authority and ChrysCapital.
Total employees at Infosys for the period ending June stood at 315,332 as compared to 317,240 in the March quarter. The employee count declined by 20,962 from a year ago. Infosys said its first-quarter net profit declined 20.1% sequentially, despite seeing a revenue gain of 3.7% quarter on quarter.
AI drone development in Ukraine is broadly split between visual systems helping identify targets and fly drones into them, terrain mapping for navigation, and more complex programmes enabling UAVs to operate in interconnected swarms. Swarmer is one of more than 200 tech firms that have sprung up since Russia launched its full-scale invasion in 2022, with civilians from IT backgrounds developing drones and other devices to help Ukraine counter a much larger enemy.
Rishad A. Premji, Wipro’s chairman speaking to shareholders in the virtual meeting said, “We pride ourselves that we have been an entrepreneurial company through our history. We have bred many many CEOs who have gone out to build organisations.” He added that the company believes in empowering young people and giving them opportunities as well.
Newme said it will use the funds to widen its omnichannel presence as well as invest in technology. The funding round saw participation from existing investors including Fireside Ventures and AUM Ventures. Newme has 6 retail outlets currently but it will add another 40-50 retail stores over the next 12-18 months in 20 cities.
Wealthtech startup Fisdom, based in Bengaluru, has appointed Girish Venkat to head its wealth management business. He was managing the same vertical for SBI previously. He also had stints with Aditya Birla Capital and ICICI Bank.
AI-powered platform Honestly, which focuses on beauty and personal care, has raised a pre-seed funding of Rs 3.2 crore led by Better Capital. The company will use the fresh capital for the initial product launch and determine signs of product-market fit.
LTIMindtree’s Q1 FY25 results show a 3.1% net profit growth but missed estimates. North America revenue contribution grew to 75.1% in the first quarter of this fiscal – highest since the official merger between the erstwhile IT firms, LTI and Mindtree. On a sequential basis, revenue grew 2.8%.
The Michael and Susan Dell Foundation participated in the round. The funds will be used to expand the team, speed up product development, roll out new digital tools and technologies, and reach out to more colleges and universities in India.