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Former Fave executives Joel Neoh and Audra Pakalnyte have established First Move, a founder-led early-stage fund launched to empower consumer-focused startups across Southeast Asia.
Fidelity pegged the fair value of Pine Labs at $4.5 billion, while it valued Gupshup at $882 million. Pine Labs was last valued at $5 billion, while Gupshup last raised funds at about $1.4 billion valuation.
The venture capital firm has already backed startups such as eyewear retailer Lenskart, news aggregator Dailyhunt, fitness platform Cultfit, app development company Builder.ai, and healthtech startup Pristyn Care.
In a note, the NPCI has asked PPI issuers to stop such services with immediate effect and close down existing wallets by June 30
In a bid to woo entrepreneurs, Noida Authority has reportedly announced a leasing scheme for startups to set up their base in the city.