Tiger Global News

Accel and Tiger Global, two early backers of Flipkart, were in talks to sell their remaining stake in the company to Walmart. Tiger Global held about 4% of the company, according to the ET report.

MUMBAI : Healthtech platform Pristyn Care has suspended Rahul Narang and Saurabh Arora, the founders of Lybrate Inc., a day after the duo served a default notice demanding outstanding payment resulting from Pristyn Care’s acquisition of their company in June 2022, two people aware of the development said on condition of anonymity. Tiger Global-backed Pristyn Care, which runs a network of hospitals and clinics through partners, had acquired Lybrate to enter the primary-care segment. While the deal size was not disclosed, it was said to be $20-30 million, including payments to other investors of Lybrate, such as Nexus Venture Partners, Tiger Global Management, and Ratan Tata’s RNT Associates.

online gaming sector are planning to come together and write to the government, raising concerns about the decision to levy 28% GST on the full face value of the bets for real money online games, people aware of the discussions said. These investors are likely to caution the government that this steep tax could make the industry unviable, while disproportionately hurting small startups, one of the people briefed on the matter told ET.

Revenue secretary Sanjay Malhotra Wednesday said government decision to impose a 28% tax on funds that online gaming companies collect from their customers will not need further consultation and an early review is unlikely, reported Reuters. Shares of casino operator Delta Corp and other online gaming companies plunged in Wednesday's trade after government, late Tuesday, announced to impose a 28% tax on fund that online gaming companies collect from their customers.

There’s movement on listed luxury retailer Cettire’s register.

₹2,500 crore to retire the senior debt it had raised from Goldman Sachs, said two people with knowledge of the development. While ₹1,000 crore will come from Manipal Group’s Ranjan Pai’s family office, existing investors in Pharmeasy are expected to pump in the rest, they said. The company counts Prosus, Temasek, B Capital, Tiger Global, Orios, Kotak PE, among others, as its investors.

Polygon Labs, the developer company behind leading sidechain Polygon [MATIC], announced on 21 February that, at the beginning of the year, the company consolidated multiple business units, which resulted in a 20% reduction in its team.

Blockchain development platform QuickNode has closed a $60 million funding round as part of a global expansion intended to onboard more users and developers to Web3 applications. 

Matrixport, the cryptocurrency firm founded by Bitmain co-founder Wu Jihan, is in the process of raising $100 million in funding despite the ongoing crypto market crisis.

Singapore’s state-owned investment firm Temasek, a shareholder at FTX, is reportedly engaging with the cryptocurrency exchange in the liquidity crisis that led to its unexpected (and still pending) bail out on Nov 8.

Blockchain-based intelligence company TRM Labs has announced a $70 million expansion to its Series B funding round, bringing the total raised to $130 million, announced the company on Nov. 9. Among the world's largest private equity firms, Series B investor Thoma Bravo manages more than $122 billion in assets.

Sam Bankman-Fried's crypto conglomerate FTX is in talks with investors to raise up to $1 billion in new funding that would keep the company's valuation at roughly $32 billion, according to people with knowledge of the discussions.

The United Kingdom’s Financial Reporting Council has reportedly found flaws in the audit of cryptocurrency-friendly payments app Revolut tha included an “unacceptably high” risk of “material misstatement.”

A $750 pump on Aug. 26 took Bitcoin (BTC) from $21,120 to $21,870 in less than two hours. However, the movement was completely erased after comments from U.S. Federal Reserve Chair Jerome Powell reiterated the bank’s commitment to contain inflation by tightening the economy. Following Powell’s speech, BTC price dropped as low as $20,700. 

Major Indian crypto exchange CoinSwitch Kuber had five of its premises searched by anti-money laundering agents on Thursday over alleged violations of forex laws. 

Cryptocurrency venture firm Dragonfly has acquired a digital asset-focused investment fund for an undisclosed amount — a move that managing partner Haseeb Qureshi said mirrors the broad consolidation trend underway in the industry. 

CoinSwitch has announced to launch Web3 Discovery Fund, the company’s corporate venture capital initiative. The aforesaid fund will invest in and incubate early-stage startups building blockchain solutions for the rapidly evolving Web3 landscape. The Web3 Discovery Fund will curate portfolio startups and provide single-window access to marquee investor partners Tiger Global, Ribbit Capital, Coinbase Ventures, Sequoia Capital India, Woodstock Fund and Elevation Capital (ex-SAIF partners), and incubation partner Buidlers Tribe.

CoinSwitch has waived off trading fees on bitcoin transactions for a limited period. However, only users with fully-verified Know-Your-Client (KYC) and

CoinSwitch has appointed Ramesh Bafna as the chief financial officer, said a statement issued today. With over 18 years of experience, Bafna has built a sustainable marketplace revenue model in e-commerce companies such as Myntra and Flipkart as well as led the finance workstreams at IT services major

CoinSwitch has unveiled Crypto Rupee Index CRE8, to measure the performance of the Indian Rupee-based crypto market, the company said on Friday. The Crypto Rupee Index tracks the performance of crypto assets that represent over 85 per cent of the total market capitalisation of cryptocurrencies traded in Rupee, a press release said. «The index is based on real trades on the CoinSwitch application, which has 18 million registered users,» the release said.

Crypto investing app CoinSwitch on Thursday launched the Crypto Rupee Index (CRE8), India’s first benchmark index to measure the performance of the Indian Rupee-based crypto market. «Owned and administered by CoinSwitch, CRE8 tracks the performance of eight crypto assets that represent over 85 per cent of the total market capitalisation of cryptos traded in Indian Rupee. The index is based on real trades on the CoinSwitch app, trusted by 18 million registered users,» the company said. “CRE8 is a demonstration of our commitment to bring more transparency to the crypto market and equip users with a simple, easy-to-understand measure of the Indian market. The index provides a trustworthy, real-time view of the Indian rupee-denominated crypto market based on actual trades, enabling Indian users to make informed investment decisions,” said Ashish Singhal, Co-founder and CEO, CoinSwitch.