Startup & Tech Daily Digest: 31 Jul

The Indian startup ecosystem witnessed a 57% slump in weekly funding, with startups raising only $80 million across nine rounds. This decline highlights a cooling period as big-ticket deals remain scarce in the current market environment.

Pranos Fusion has secured $6.8 million in seed funding to develop compact, India-built magnet-based fusion reactors. The company aims to disrupt the energy sector by producing reactors that are significantly more cost-effective than global alternatives.

A recent report by Kalaari Capital has shed light on the persistent gender gap in venture capital, revealing that women founders receive only ₹4 for every ₹100 raised in India. This data underscores the systemic challenges that continue to hinder equitable capital distribution within the ecosystem.

Personal care and cosmetics player Nimson International has reached a significant milestone by hitting ₹150 crore in revenue. The company has successfully expanded its reach to cover every PIN code across India.

In the regulatory space, Zee Entertainment was penalized 14.8 million rupees by SEBI, while Vodafone Idea received a ₹26.8 crore notice from the Department of Telecommunications. Meanwhile, commodity markets saw 24K gold hold steady at ₹1,44,050 per 10g, while silver prices slipped to ₹2,18,910 per kg as July concluded.

Home services marketplace Urban Company has released its Q1 FY25 financial results. The company continues to maintain its market position by providing a wide array of beauty, cleaning, and repair services to consumers.