Entrackr

Gaming company Nazara Technologies has withdrawn the proposed merger of its wholly owned subsidiary, Paper Boat Apps Private Limited, after the National Company Law Tribunal (NCLT) approved the company's request to withdraw the scheme. In a stock exchange filing on Tuesday, the company said the NCLT has allowed its application to withdraw the Scheme of Amalgamation. Nazara's board had approved the withdrawal of the merger proposal in May 2026 due to changes in the company's restructuring plans.

Ronnie Screwvala-led upGrad has received approval from the Competition Commission of India (CCI) for its proposed acquisition of edtech unicorn Unacademy. According to a release issued by the competition watchdog on Tuesday, the regulator approved the acquisition of certain shareholding in Sorting Hat Technologies Private Limited and its subsequent merger with and into upGrad Education Private Limited.

Bengaluru-based AI startup Alchemic has raised Rs 2.5 crore in a pre-seed funding round led by AJVC, with participation from angel investors. The fresh capital will be used to enhance its AI platform, expand its engineering and commercial teams, and increase enterprise adoption. Founded in 2025 by Sreenadh Narayanan and Maurice Dhara, Alchemic develops AI agents for customer research.

Audio storytelling platform Pocket FM has appointed Abhilash Padival as its Chief Financial Officer (CFO). The appointment follows the exit of Anurag Sharma, who stepped down as CFO in May this year. Entrackr had exclusively reported the development. In his new role, Padival will lead Pocket FM's global finance function, overseeing financial strategy, capital allocation, business planning, investor relations, compliance, and corporate governance.

Info Edge, the parent company of Naukri, 99acres, Jeevansathi, and Shiksha, reported a steady start to FY27, with its standalone billings rising 14.4% year-on-year during the June quarter. According to the company's quarterly business update, standalone billings increased to Rs 737 crore in Q1 FY27 from Rs 644.2 crore in the corresponding quarter last year. The company released the unaudited numbers ahead of its detailed quarterly financial results.

Food delivery and quick commerce firm Swiggy has become an Indian Owned and Controlled Company (IOCC), with its domestic ownership rising above the 50% mark. In a stock exchange filing on Tuesday, the company said its aggregate foreign investment stood at 49.76% of its total paid-up equity share capital on a fully diluted basis as of July 6, 2026. The figure includes foreign direct investment (FDI), foreign portfolio investment (FPI), and other indirect foreign investment.

Engineered sustainable packaging company Econovus Packaging has raised Rs 40 crore in a pre Series A funding round led by Rainmatter by Zerodha, with participation from Rockstud Capital. Engineered sustainable packaging company Econovus Packaging has raised Rs 40 crore in a pre Series A funding round led by Rainmatter by Zerodha, with participation from Rockstud Capital.

Physical AI startup Mowito has raised $3 million in a pre seed funding round led by Version One Ventures, with participation from All In Capital, Unisol, iSeed, and angel investors including Soumith Chintala, Adarsh Kulkarni, Ashish Kulkarni, and Vaibhav Domkundwar of Better Capital. The startup had previously secured $540K in an angel funding round.

Fitness tech company Cult.fit, after posting a strong 31% growth in FY25, delivered another solid performance in the fiscal year ended March 2026, with operating revenue rising 41% year-on-year to surpass the Rs 1,700 crore mark ahead of its planned stock market debut. The company also turned EBITDA positive during the period.

Flexible workspace platform Stylework has raised $1 million in equity funding in the second close of its pre-Series B round, led by Auxano Capital. The round also saw participation from family offices, institutional investors and HNIs. The latest investment follows the first close of the round backed by Equentis Angel Fund, Karekeba Ventures/Cogniphy AIF Fund, MoneyVyapaar and LetsVenture Fund, taking the total pre-Series B raise to over $3.5 million.