Backed Financial News

10.07 / 10:55

COST Aware Google CEO Strategy Backed Costs Reliance Retail-backed Dunzo may cut more jobs to pare costs; defers 50% of June salary

Reliance Retail-backed quick commerce startup Dunzo may finalise its plans to terminate more jobs. It has had to already defer half of the June salary for employees at the manager level and above due to a ‘cash flow issue’, according to sources aware of the matter. Kabeer Biswas, founder and CEO of Dunzo, which closed a $75 million financing round through convertible notes in April, told his staff in a recent town hall that the June salary would be delayed due to a cash flow issue related to lenders, according to the people cited above.

10.07 / 08:53

UPS Google Backed Reliance, Google backed Dunzo delays 50% salary this month, employee says, ‘rumours of restructuring…’

Business Today. Another employee confirmed, “We were informed that we would get the rest of the salary between July 15th to 25th. There are rumours of restructuring amid a cash crunch." In April of this year, the quick commerce company, after securing a substantial $75 million funding round from investors including Reliance Retail and Google, made the difficult decision to lay off 30 percent of its workforce.

09.07 / 16:19

UPS Citi Provident FIVE Citizens Dreams Backed For Hong Kong's youth, government-backed hostels offer a smidgen of housing hope

By Clare Jim

07.07 / 20:59

Provident FIVE Backed Sebi issues rules for PE backed MFs

₹5,000 crore. However, Sebi added that the MF sponsored by the private equity fund would not participate as an anchor investor in the public issue of an investee company, where any of the schemes and funds managed by the sponsor PE has an investment of 10% or more or a board representation.

07.07 / 17:09

UPS Microsoft Platform Mobile Enterprise Backed Microsoft-backed AI4Bharat set to raise $12 million funding from Peak XV, Lightspeed – sources

AI4Bharat, a start-up backed by Microsoft, is raising $12 million from venture capital firms Peak XV and Lightspeed Venture to develop artificial intelligence-powered chatbots for Indian languages, according to three people familiar with the matter.The larger-than-usual seed funding round underscores the growing interest in generative AI, after OpenAI’s ChatGPT dazzled users with its ability to engage in human-like conversations. Most seed rounds are usually up to $1 million to $2 million. AI4Bharat, which is also backed by the Indian government, has been developing AI models for speech recognition and translation.

06.07 / 19:01

business FTX Deal Fried Backed Sam Sam Bankman-Fried backed out of FTX sponsorship deal with Taylor Swift: Report

The sponsorship deal between defunct cryptocurrency exchange FTX and Taylor Swift was reportedly called off at the request of former CEO Sam Bankman-Fried (SBF), and not the singer-songwriter, as many reports have suggested.

06.07 / 19:01

Cronos Altria Backed Exclusive-Altria-backed cannabis producer Cronos explores sale -sources

By Anirban Sen

05.07 / 03:19

Manufacturing Forrester Pfizer RIO PEP Backed PEP checks out JBS-backed engineering shop Scott Technology

Pacific Equity Partners is considering a tilt at New Zealand-listed engineering business Scott Technology, which is 53 per cent owned by Brazilian meat processor JBS and has Macquarie Capital running a strategic review.

04.07 / 06:27

Blockchain SUN Platform Dreams Petro Backed Sun Sets on Venezuela’s Petro – Is the State-backed Crypto Now ‘Dead?’

The sun may have set on Venezuela’s crypto dream, experts say – with some claiming that the nation’s oil-pegged Petro coin may be “dead.”

03.07 / 16:07

CEO Fighting Backed Two PGA tour officials to testify to US Senate panel about merger with Saudi-backed LIV

WASHINGTON (Reuters) -Two PGA Tour officials have agreed to testify before a U.S. Senate panel next week about the tour's merger with Saudi-backed LIV Golf, but LIV officials declined to appear, lawmakers said on Monday.

03.07 / 15:17

Provident Reuters Ford Tesla Highways Backed Kentucky mandates Tesla's charging plug for state-backed charging stations

By Hyunjoo Jin

02.07 / 06:25

UPS Twitter Platform Backed Twitter rival Jack Dorsey-backed Bluesky disables new sign-ups

Bluesky has «disabled» new sign-ups. According to Bluesky's status page, the platform was experiencing «degraded performance» late Saturday.

28.06 / 10:29

Blockchain Art NFT Web3 Gaming Backed Standard NFTs backed by real-world items: The new gold standard in AI-based gaming?

The NFT market is continually evolving — and there’s one intriguing trend that’s enhancing their utility even further: tying digital assets to real-world items.

21.06 / 16:19

Blockchain Tether USDT Apple Gaming Court Fidelity Backed Crypto Companies Today in Crypto: Citadel & Fidelity-Backed EDX Launches Trading, Core Scientific Files Chapter 11 Bankruptcy Plan, Canadian Securities Administrators Warns About Fraudulent Crypto Companies

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________

20.06 / 18:31

Target Binance litecoin SEC Platform coinbase Crypto Exchange Bitcoin Backed Schwab and Fidelity-Backed Crypto Exchange EDX Goes Live, Adds More Backers

EDX Markets, a cryptocurrency platform backed by Charles Schwab (SCHW), Fidelity and Ken Griffin's Citadel Securities, launched trading for bitcoin (BTC), ether (ETH), litecoin (LTC), and bitcoin cash (BCH).

20.06 / 11:03

defi regulation European Union Decentralization Backed Global Crypto Regulations for DeFi Backed by France's Markets Regulator

France's markets watchdog, the Autorité des Marchés Financiers (AMF), said it fully supports globally coordinated, clear regulation for decentralized finance (DeFi) in order to protect users while fostering the novel and innovative sector's growth.

16.06 / 05:37

UPS IPO Provident Digital CEO ICE Executive Backed SoftBank-backed digital lender Zopa beefs up executive team with IPO-experienced CTO

LONDON — British digital bank Zopa is beefing up its management team with a couple of senior hires, as the company looks to fuel growth and prepare its business for an eventual public listing.

13.06 / 11:49

COST UPS Digital Platform Software NVIDIA Backed valuation A Nvidia-backed platform that turns text into A.I.-generated avatars boosts valuation to $1 billion

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09.06 / 20:11

Provident Twitter CEO Platform Bitcoin Backed Jack Dorsey-Backed Nostr Platform Collaborates with Zebedee to Create New Social Media Later – How Does it Work?

A rapidly growing decentralized Twitter competitor, Nostr, is collaborating with Zebedee to design a new social media.

07.06 / 11:19

NFT Non-fungible tokens Metaverse Fashion Backed Louis Vuitton Set to Launch $42,000 Physical-Backed NFT Trunks

French luxury fashion house Louis Vuitton has announced its first non-fungible token (NFT) collection, with each iconic-trunk-turned-digital-collectible coming with a tag of nearly $42,000.

03.06 / 05:21

business Stablecoin Banks banking Backed MUFG to facilitate Japanese bank-backed stablecoins via Progmat Coin platform

Megabank Mitsubishi UFJ Financial Group (MUFG) has announced that its stablecoin issuance platform “Progmat Coin” will soon be used by Japanese banks to launch Yen-pegged stablecoins on several public blockchains.

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