News Update

With over 20 years of experience at Freshworks, Lenovo, and Dell, Sandal will focus on building strong teams, shaping company culture, and supporting global growth.

The layoffs have heavily affected Krutrim’s linguistics team, which was recently hired. The team earlier had around 600 members, according to the report.

At its annual general meeting held on Saturday, shareholders agreed to raise ₹2,150 crore (around $250 million) through the IPO. Sources familiar with the matter said the total issue size could go up to $1 billion.

The company said it is retraining and moving staff to new roles as it expands into new markets, adopts new technology, and uses AI. However, around 12,200 jobs will still be cut as part of this process.

Along with this, 26 websites and 14 mobile apps were also blocked — nine on the Google Play Store and five on the Apple App Store.

Despite raising about Rs 5 crore from investors such as Antler India, Blume Ventures, Catalyst Fund and angel investors, the startup couldn't scale and is now shutting down.

As per stock exchange filings, Elevation originally held a 9.04% stake (about 3.53 crore shares) in the company. It now holds a reduced stake of 6.45%.

According to SEBI’s latest update, PhysicsWallah received the regulator’s go-ahead for its IPO on July 18. In SEBI terms, this means the IPO is approved.

As part of the deal, LISSUN has taken over Being Care’s technology IP and entire team. Additionally, Being Care’s founders, Varun Gandhi and Abhishek Sharma, have joined LISSUN as Chief Product Officer and Chief Technology Officer, respectively.

According to a regulatory filing with the Registrar of Companies (RoC), the board has now approved changing its status from a private to a public company and renamed it from “Leap India Private Limited” to “Leap India Limited.”