City Spark Financial News

The Bot Company, a robotics startup founded by Kyle Vogt, the former cofounder and CEO of autonomous vehicle company Cruise, has raised $150 million in funding. The round, which valued the startup at $2 billion, was led by global investment firm Greenoaks, Reuters reported, citing anonymous sources. Vogt co-founded the company with Paril Jain, who previously led the AI tech team at Tesla, and Luke Holoubek, a former software engineer at Cruise.

Subscribe to enjoy similar stories.The promoters of Bengaluru-based Truffles Hospitality Pvt Ltd, known for its continental cuisine, premium burgers and desserts, are exploring options to raise capital from private equity firms and have engaged Spark Capital to find buyers for the asset, three people familiar with the matter said.“The deal has been in the market for quite sometime now and several PE firms have been tapped,” one of the people cited above said.The transaction could see Truffles’ promoters sell anywhere between a significant minority and a majority stake, depending on the incoming investor and deal structure, the second person said.“The deal will likely value the overall company at about 3-4x revenue multiple which translates to nearly ₹800 crore,” a third person said, confirming the above details.India’s $80-billion food services market is projected to grow at a 10–11% CAGR through 2030, driven by the rapid expansion of organised players. The rise of online food delivery and branded dine-in formats is accelerating this shift.

₹9,756 on March 7 before undergoing a 38% correction, settling at ₹5,960 by the end of last week. This sharp decline over 10 days translated into a staggering loss of nearly ₹20,000 crore in market capitalization. Consequently, the company's market cap dwindled from ₹49,365 crore on March 7 to ₹30,155 crore within a span of two weeks.

₹4,001 per share, amounting to approximately ₹9,300 crore, according to a report by Bloomberg. Tata Sons holds a majority stake of 72.38% in TCS, whose shares have surged by 30% over the past year.

They are among the most recognizable of a generation of Silicon Valley investors who are getting out of venture capital at the end of a lucrative 15-year upswing for the industry.

Tata Sons, the holding company of the Rs 30 lakh crore conglomerate, grows louder, investors have already started betting on Tata Chemicals which could be the biggest beneficiary of the mega IPO. Shares of Tata Chemicals rallied 8% to the day's high at Rs 1,084.80 on BSE on Tuesday. Classified as an upper-layer NBFC last year by RBI Tata Sons must list itself on stock exchanges by September 2025. It was last year reported that Tata Sons could be worth Rs 11 lakh crore and a 5% stake sale would lead to an IPO size of about Rs 55,000 crore.

Spark Capital Advisors (India), one of the oldest mid-market investment banking and financial services companies, announced a strategic evolution to propel its journey into the future. Having successfully navigated the investment landscape, Spark Capital significantly strengthens and enhances its wealth and asset management business, Spark Private Wealth, by integrating investment banking and asset management expertise. Co-chief executives Arpita Vinay and S Ganashyam lead the venture. Spark Private Wealth has a team of over 200 seasoned private bankers and experts.

On May 23, artificial intelligence (AI) safety and research company Anthropic announced that it had raised $450 million in Series C funding led by Spark Capital, with additional participation by Google, Salesforce Ventures, Sound Ventures and Zoom Ventures. 

Solana nonfungible token, or NFT, marketplace, Magic Eden has announced a partnership collaboration with popular sporting entertainment platform Overtime to launch an NFT collection proposing to enhance fan engagement and exclusive experiences.

Fireblocks, a digital asset infrastructure provider, has raised $550 million from institutional investors

Digital asset infrastructure provider Fireblocks said that it has raised $500 million from investors, which lifted the company’s value to $8 billion.

Digital asset custody platform Fireblocks has raised $550 million in Series E funding to become one of the blockchain industry’s most valuable companies, underscoring heightened institutional appetite for cryptocurrency products despite extreme price volatility.