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Sarvam raises $75 million; Ather trims losses in Q1 Want this newsletter delivered to your inbox? Also in the letter Sarvam to raise $75 million
Sarvam raises $75 million; Ather trims losses in Q1 Want this newsletter delivered to your inbox? Also in the letter Sarvam to raise $75 million from Nvidia, Glade Brook, others as part of ongoing funding round Chipmaker Nvidia, US venture capital firm Glade Brook, private equity investor Gaja Capital, IndiGo Ventures, and several individual investors took part in the round. The latest fundraise values Sarvam at $1.5 billion. ET was the first to report on how the overall funding round was being structured and that Glade Brook was in talks to invest in Sarvam. to invest in Sarvam. Sarvam had announced the first close of the larger round in June, raising $234 million led by software services firm HCLTech, with participation from Bessemer Venture Partners, Peak XV Partners, and billionaire Vinod Khosla's Khosla Ventures.
Ather Energy consolidated net loss narrows to Rs 51 crore in Q1 Revenue: Up 89% year-on-year (YoY) to Rs 1,217 crore. Up 89% year-on-year (YoY) to Rs 1,217 crore. Net loss: Narrowed to Rs 51.1 crore from Rs 178.2 crore in the year-ago period. Narrowed to Rs 51.1 crore from Rs 178.2 crore in the year-ago period. Total expenses: Grew to Rs 1,310.7 crore, compared with Rs 851.1 crore a year earlier. Ather Energy raises Rs 1,300 crore via QIP, allots shares at Rs 1,202 apiece Mobikwik swings to Rs 7.6 crore net profit in Q1 Revenue: Up 3.7% YoY to Rs 281.5 crore from Rs 271.4 crore in Q1 FY26. Up 3.7% YoY to Rs 281.5 crore from Rs 271.4 crore in Q1 FY26.
Net profit: Rs 7.6 crore, compared with a loss of Rs 41.9 crore in the year-ago period. Government to move amendments to IT Act to pave way for levy of MDR Jargon buster Tell me more Meanwhile UPI volumes hit record high in July, nears Rs 30 lakh crore Next ECMS tranche may greenlight rare earth magnet plants Rare earth permanent magnets (REPMs), made using elements such as neodymium and dysprosium, are critical for modern electronics because they provide strong magnetic performance despite their small size. Officials said the decision to include the category under the ECMS followed discussions among ministries, which highlighted slower-than-expected progress in building a domestic rare-earth magnet supply chain. Official data shows that more than 80% of India's $163 million metal-based permanent magnet imports in FY26 came from China.
Neo Performance Materials looks at India for rare earth magnet manufacturing Flipkart-Netflix deal signals new era of content-commerce partnerships Flipkart may launch food delivery mid-August, mulls commissions of up to 11%: Sources Eligible Flipkart Plus members can use Netflix's Mobile Plan, worth Rs 149/month, after making four purchases of at least Rs 299 each in a calendar month. The offer was launched on August 1. Eligible orders include purchases made on Flipkart, Flipkart Grocery and Flipkart Minutes. After the fourth qualifying purchase, customers receive a 30-day Netflix Mobile Plan through the Flipkart app. Flipkart's Kalyan Krishnamurthy rules out IPO timeline, plays down quick commerce as a separate business
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