Elevation

Despite regulatory challenges imposing higher governance costs, procedural delays and hurdles in establishing partnerships with banks for fintech firms, such actions serve as a runway for them to build a scalable platform in the long run, said senior partners at early-stage venture capital investor firm Elevation Capital.“I think getting a regulatory clarity might make your task tougher because it adds governance and governance cost and it may make your task longer. But I think it provides a nice runway for you to scale…

Elevation Capital, the largest institutional shareholder in One 97 Communications-- owner of digital payments brand Paytm-- is staring at a massive erosion in the worth of its holding, amid a free-fall in the shares of the beleaguered company following the regulatory ban on its payment bank operations that comes into effect on March 15.The Ravi Adusumalli-led fund’s 15% stake in One 97, which was valued at about Rs 6,100 crore when the post-IPO lock-in expired in November 2022, had shrunk by nearly 40% to Rs 3,800 crore…

Ola founder Bhavish Aggarwal on Friday unveiled the large language model (LLM) Krutrim, which he described as ‘India’s own AI’. This and more in today’s ETtech Top 5.Also in this letter:■ HC dismisses plea against Ashneer Grover on Nakrani share sale■ ETtech Deals Digest■ Third Wave Coffee fires 10% of staffBhavish Aggarwal unveils Ola's large language model Krutrim Krutrim, an artificial intelligence firm started by Ola Electric founder and chief executive Bhavish Aggarwal, announced its large language…

Denver resident Charlene Taylor found herself in a bind after her daughter died in a car accident in 2020 while in the middle of a home sale. Her three grandchildren, who ranged from 13 to 21 years of age at the time, needed to find a new place to live and Taylor’s one-bedroom apartment was way too small to host everyone. After obtaining assistance from Denver for a few years for an affordable townhome that allowed the family to stay together, Taylor and her oldest granddaughter, Chantie, purchased a home in Montbello…

The Puna Plateau is part of the Central Andes, a mountain belt in which the elevation is mainly driven by lithospheric strength and tectonic forces. Credit: Mitchell D'Arcy for GFZ Scientists have come up with a new classification scheme for mountain belts that uses just a single number to describe whether the elevation of the mountain belt is controlled mainly by weathering and erosion or by properties of the Earth's crust,…

Polymerize cofounders Kunal Sandeep (Left) and Abhijit SalvekarBengaluru: Polymerize, a Singapore-based software-as-a-service (SaaS) startup, has raised $4.2 million in a funding round led by Elevation Capital. The round also saw participation from existing investor InfoEdge Ventures. Polymerize plans to use the new funds to ramp up hiring and expand its footprint across India, Japan and the US. The company has so far acquired customers across three markets -- Japan, Singapore and India. It will focus on companies across…