WeWork raised an additional $ 1 Billion in convertible debt from Soft Bank, the New York based company continues to grow rapidly. Their revenue doubled to a hefty $ 712 million according to the newly released financial information on Thursday.
WeWork is an American company that provides shared work spaces, tech startup communities, and various other services for startups, freelancers, small businesses and large enterprises. Founded by Adam Neumann and Miguel Mckelvey in 2010, it is one of the world’s most valuable startups as it is valued around $ 20 billion.
The startup WeWork has been piling up losses. During the first half of the year, the loss widened to $ 723 million as the company continued to expand, opened new spaces and spent more money to market them. The losses increased while the revenue for the first half of the year has more than doubled to a whopping $ 763.8 million.
The unusual mechanism of piling up losses gives WeWork an immediate cash injection as it continues to funnel money into expanding its shared office business globally.
The Chief Financial Officer, Artie Minson, in a recent interview described the financing as “the ability for us to opportunistically add a billion dollars to the balance sheet.” Minson further added, WeWork has around $ 4 billion in cash and commitments.
Due to being a private company WeWork has no obligation to publicly disclose its financial status. It released the figures to the media in conjunction with a periodic update to bond investors.
The latest funding from its investor Soft Bank, comes in the form of a subordinated convertible note that is structured so that the Japanese company has an edge in the next fundraising round. Soft Bank, has already invested $ 4.4 billion in equity funding in WeWork last August.
“There is no investor closer to us than Soft Bank and it was an opportunistic financing that we were able to do,” Minson said in an interview.
WeWork has more than 5,000 employees in over 280 locations, spread across 77 cities in 23 countries around the world including India, United Kingdom, Japan, Singapore, Australia, Argentina, Germany and Brazil.
Blissclub, the women-centric D2C apparel brand, has raised INR 33 crore in a Pre-Series B funding round led by Elevation Capital, with Eight Roads Ventures also participating. This funding comes just three months after the company laid off 18% of its workforce-about 21 employees from creative, sales, marketing, growth, and product teams-due to high cash burn and challenges in securing new capital.
The latest investment was made through the allotment of 16,076 compulsory convertible preference shares (CCPS) at a premium of INR 20,428 each. Elevation Capital invested INR 19 crore, securing a 24.5% stake, while Eight Roads Ventures contributed INR 14 crore, raising its stake to 15.79%. The capital will be used for working capital, capital expenditure, and general corporate purposes. Founded in 2020 by Minu Margeret, Blissclub started as an online activewear brand for women and has since diversified its product range and established offline stores. Despite recent restructuring, the company’s revenue grew 27% to INR 86.9 crore in FY24 from INR 68.3 crore in FY23, though net losses also increased to INR 43.9 crore.
Blissclub’s successful fundraising, despite recent layoffs, underscores both the ongoing challenges and the resilience of India’s D2C startup sector in a difficult funding environment.
Apple is set to relocate all assembly of iPhones destined for the US market from China to India by the end of 2026, marking its biggest manufacturing shift in decades. The move is driven by escalating US-China trade tensions and steep tariffs—up to 145% on Chinese imports—making Chinese assembly increasingly costly for Apple. Although some smartphone imports are temporarily exempt, a 20% duty still applies to Chinese-made iPhones entering the US.
India, in contrast, offers a more favorable trade environment, with a paused 26% reciprocal tariff and ongoing negotiations for a bilateral trade deal with the US that could shield Indian exports from future levies. Apple plans to more than double its current iPhone output in India, aiming to assemble over 60 million units annually for the US market. The company already produces about 25% of its global iPhones in India, working with partners like Foxconn, Tata Electronics, and Pegatron.
This shift is part of Apple’s broader strategy to diversify its supply chain and reduce reliance on China amid geopolitical risks. However, the transition’s success will depend on how quickly India can scale up its manufacturing capabilities and the outcome of ongoing trade negotiations.
PhonePe’s PINCODE app has launched a 24×7 online medicine delivery service in Bangalore, Mumbai, and Pune, promising delivery of both prescription and over-the-counter medicines within 10 minutes from nearby local medical shops. Unlike conventional e-pharmacies that use dark stores, PINCODE partners exclusively with neighborhood pharmacies, enabling faster deliveries and supporting local businesses in the digital economy.
Customers without prescriptions can select a “no prescription” option when ordering; a qualified doctor then provides a free teleconsultation and issues a digital prescription compliant with telemedicine guidelines, ensuring seamless access to medicines. The app offers competitive pricing by passing discounts from local pharmacies directly to customers and charges no delivery fees.
PINCODE’s hyperlocal model enhances healthcare accessibility and convenience while empowering local pharmacies, helping them remain integral to their communities and stimulating local economic growth. Launched in 2023, the app focuses on quick commerce with an emphasis on speed, reliability, and supporting local sellers.
In summary, PhonePe’s PINCODE app is transforming medicine delivery in major Indian cities by combining ultra-fast 10-minute delivery, free doctor consultations, and a hyperlocal sourcing model that benefits both consumers and neighborhood pharmacies.