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    EloElo Group raises $80 million in a Series C round led by Hornbill Capital and NBCUniversal, with MIT Investment Co. and existing investors participating. Peppermint Robotics raises ₹100 crore (approximately $10.5 million) in a Pre-Series B round led by pi Ventures and Crane Venture Partners, with Asiana Fund participating. Traversal raises $120 million in a Series B round at a $1 billion valuation, led by Kleiner Perkins, Redpoint and Khosla Ventures, with Sequoia Capital, Battery Ventures and Amex Ventures participating. GIVA raises over $100 million in a round led by Multiples Alternate Asset Management. The Croffle Guys raises ₹14 crore in a round led by V3 Ventures, with N.A.N Partners participating. Solgram raises over $1 million in a pre-seed round led by DSG Consumer Partners and Saama Capital, with Kapil Chopra participating. Sachin Tendulkar makes a strategic investment in Metasports Interactive, the company behind Hitwicket. The amount was not disclosed. Hyeglo Beauty raises ₹7 crore in a round led by Sauce, with Giga Capital, Consumer Collective, Reckitt's Arjun Purkayastha and The Patient Capital participating. Unify Foodworks raises ₹5 crore in seed funding through convertible debentures from Atrium Ventures, SailThru Ventures, Arjun Vaidya and Abhishek Goyal. OBSESS raises approximately ₹3 crore in an angel round from Pushpendra Singh, Amit Goel and Harshit Vij. EloElo Group raises $80 million in a Series C round led by Hornbill Capital and NBCUniversal, with MIT Investment Co. and existing investors participating. Peppermint Robotics raises ₹100 crore (approximately $10.5 million) in a Pre-Series B round led by pi Ventures and Crane Venture Partners, with Asiana Fund participating. Traversal raises $120 million in a Series B round at a $1 billion valuation, led by Kleiner Perkins, Redpoint and Khosla Ventures, with Sequoia Capital, Battery Ventures and Amex Ventures participating. GIVA raises over $100 million in a round led by Multiples Alternate Asset Management. The Croffle Guys raises ₹14 crore in a round led by V3 Ventures, with N.A.N Partners participating. Solgram raises over $1 million in a pre-seed round led by DSG Consumer Partners and Saama Capital, with Kapil Chopra participating. Sachin Tendulkar makes a strategic investment in Metasports Interactive, the company behind Hitwicket. The amount was not disclosed. Hyeglo Beauty raises ₹7 crore in a round led by Sauce, with Giga Capital, Consumer Collective, Reckitt's Arjun Purkayastha and The Patient Capital participating. Unify Foodworks raises ₹5 crore in seed funding through convertible debentures from Atrium Ventures, SailThru Ventures, Arjun Vaidya and Abhishek Goyal. OBSESS raises approximately ₹3 crore in an angel round from Pushpendra Singh, Amit Goel and Harshit Vij.

    • Just In

    Closure of Companies Now Faster with C-PACE: Over 38000 Dissolved in 2 Years

    Spotlight Posted on  —by Salil Urunkar
    closure of companies and LLPs

    New Delhi: The Ministry of Corporate Affairs (MCA) has revolutionized the closure of companies and LLPs with the operational launch of the Centre for Processing Accelerated Corporate Exit (C-PACE), drastically reducing the average processing time for voluntary closure applications from more than two years to under two months.

    Operational since May 1, 2023, C-PACE offers a centralized exit mechanism with PAN-India jurisdiction, streamlining the voluntary strike-off process for companies and LLPs.

    Also Read: Force iPulse: Force Motors Launches AI Platform for Fleet Intelligence and Predictive Diagnostics

    All application processing, from queries to approvals or rejections, is conducted entirely through the MCA portal, ensuring real-time tracking and uniform execution nationwide.

    Closure of Companies (May 1, 2023 – July 31, 2025): Key Achievements of C-PACE
    • 38,658 companies dissolved through STK-2 applications.
    • 8,368 LLPs struck off under Section 75 of the LLP Act, 2008, read with Rule 37(1)(b) of the LLP Rules, 2009.

    The establishment of C-PACE for closure of companies and LLPs, is part of MCA’s larger reform agenda to enhance ease of doing business and ease of compliance.

    Other MCA Initiatives Include:

    • MCA21 V3 Portal Enhancements: Web-based form filing, real-time validation, and pre-filled data fields.
    • Straight Through Processing (STP): 79 forms processed electronically without human intervention.
    • Central Processing Centre (CPC): Operational since February 2, 2024, for speedy handling of 12 non-STP forms.
    • E-Adjudication Module: Launched on September 16, 2024, for end-to-end online adjudication, including hearings via video conferencing.
    • Decriminalization of 63 Offences: Reducing litigation burden and shifting cases to adjudication.
    • Zero-Fee Incorporation: For companies with authorized capital up to ₹15 lakh.
    • Fast-Track Mergers: Extended to startups and small companies, including certain cross-border mergers.
    • SPICe+ & AGILE PRO-S: Integrated services for name reservation, incorporation, PAN, TAN, GST, EPFO, ESIC, and bank account opening.
    • Mobile App: Access to MCA21 services including dashboards, notices, and circulars.

    Author

    • Salil Urunkar

      Salil Urunkar is a senior journalist and the editorial mind behind Sahyadri Startups. With years of experience covering Pune’s entrepreneurial rise, he’s passionate about telling the real stories of founders, disruptors, and game-changers.

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