360 One WAM, India’s largest wealth manager focused on ultra-high-net-worth individuals, has agreed to acquire popular Indian mutual fund investment app ET Money for about $44 million.
360 One disclosed (PDF) the deal in a stock exchange filing Wednesday evening.
ET Money boasts over 900,000 transacting clients and tracks assets under management of approximately $8.3 billion.
The platform has been a popular choice for retail investors, with monthly mutual fund net flows of around $89.9 million.
ET Money is the second startup from local media powerhouse Times Internet’s portfolio to be sold in recent weeks.
The UK has exited the European Union, but semiconductor development is emerging as one of the areas where it hopes to partner for better economies of scale — and much-needed funding.
The UK itself said it would put up a more modest £35 million ($44 million) in funding for UK efforts over the next few years as part of that.
The Chips Joint Undertaking, for example, has an overall budget of about €11 billion from both public and private contributions.
In December 2023, Pragmatic Semiconductor, another Cambridge-based chip company, raised $231 million at a $500 million valuation.
“We are very happy to welcome the UK to the Chips Joint Undertaking as a participating state,” said Jari Kinaret, Chips JU Executive Director, in a statement.
A team led by former Twitter engineers is rethinking how AI can be used to help people process news and information.
The startup was founded last year by former Senior Director of Product Management at Twitter, Sara Beykpour, who worked on products like Twitter Blue, Twitter Video, and conversations, and who spearheaded the experimental app, twttr.
She had been at Twitter from 2015 through 2021, growing her position from software engineering to that of a senior director of product management.
The premise behind Particle, as Beykpour explained last month, is to make it easier to keep up with news using AI.
We’re hoping to talk in more detail about how Particle vets its sources closer to a public launch.
He said there are around 350 shows published weekly, with only around “a handful” of creators making multiple shows, meaning it has around 350 creators using the platform today.
The Danish Export and Investment Fund (EIFO) is leading the round, with HighlandX and Augustinus Fabrikker also participating.
Strunge said that prior to this round, the company had raised just over €200 million.
Podimo’s funding and traction are coming at a tricky time for the podcasting industry.
The plan will be to take this model further, Strunge said, with a focus on ever-more “hyper local” content.
