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Ola To Raise $ 36 million from Existing Investors

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Homegrown cab aggregator Ola, is in plans to raise an additional $ 36 million from existing investors according to filings with the Registrar of Companies. The cab hailing operator, which is operated by ANI Technologies Pvt., Ltd., decided to raise these additional funds in a board meeting resolution held on May 29, according to a report in VCCircle.

According to the report, Ola will issue 71,733 shares with a face value of Rs. 10 and a premium value of Rs. 13,511 a piece. The total subscription price will be Rs. 13,521, same as the subscription price allocated in their most recent funding round where they raised $ 104.4 million. Post this round the authorized share capital was also increased from Rs. 5,587.6 crores to Rs. 5,587.8 crores. In accordance with the Registrar of Companies filings, Ola was supposed to raise this sum in the closing hours of May 31 this year. Therefore, it is quite likely that the company may have already raised this amount.

The cab hailing company also raised $ 250 million from the Japanese major Softbank in April this year. The Japanese telecom and Internet giant is currently Ola’s largest investor. In June, the Bengaluru based company raised $ 500 million from a hedge fund based in New York, at a valuation of $ 3.65 billion.

The company was valued at $ 4.8 billion in August 2015, however, by June this year, Ola’s valuation was pegged at around $ 3.5 billion. Earlier this month, it was also reported that multinational technology company Microsoft was also likely to invest $ 50 million to $ 100 million in Ola.  According to reports, this deal would also involve a shift to Microsoft’s cloud computing platform Azure from Amazon Web Services.

Ola has been in an intense battle with global cab aggregator Uber to capture the lucrative Indian cab hailing market. They have also recently launched a bike taxi service called Ola Bike in Kolkata, in an attempt to roll out innovations more suitable for the Indian market.

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PayU Gets Final RBI Nod to Operate as Payment Aggregator Ahead of 2025 IPO

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PayU India, owned by Prosus, has received final approval from the Reserve Bank of India (RBI) to operate as an online payment aggregator, a year after getting in-principle approval in April 2024. This authorization allows PayU to onboard new merchants and offer digital payment solutions, joining other major players like Razorpay, CCAvenue, and BillDesk.

The RBI’s nod comes as PayU prepares for its planned IPO in the second half of 2025, following a delay from its original 2024 timeline due to market conditions. The company, which serves over 450,000 merchants, reported $319 million in revenue from its core payments and credit business in the first half of FY25.

PayU stated that the approval will help it build a resilient, compliant, and innovation-driven institution, supporting merchants of all sizes and advancing the Digital India vision. The company has also strengthened its risk management and expanded its presence in real-time payments through a strategic stake in Mindgate Solutions.

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Google’s Iconic ‘G’ Logo Gets First Update in 10 Years

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Google has refreshed its iconic ‘G’ logo for the first time in nearly 10 years, replacing the familiar solid blocks of red, yellow, green, and blue with a smooth, vibrant gradient that blends these colors seamlessly. This subtle update gives the logo a softer, more fluid, and modern appearance, aligning with Google’s evolving digital identity and current design trends.

The new gradient transitions smoothly from red to yellow, yellow to green, and green to blue, making the logo more visually appealing and adaptable across various devices, especially on mobile platforms. This redesign also reflects Google’s growing emphasis on artificial intelligence, echoing the gradient style used in the branding of Google Gemini, the company’s AI-generative assistant.

The updated ‘G’ logo has started rolling out on iOS through the Google Search app and on some Android devices, particularly Pixel phones running the Google app beta version 16.18. However, most other platforms, including the web and non-Pixel Android devices, still display the classic solid-color logo. A wider rollout is expected in the coming weeks.

So far, Google’s main wordmark and other product logos like Chrome, Maps, and Gmail remain unchanged. Given the shift toward gradient designs and AI-inspired visuals, similar updates to other Google icons may follow in the future.

In summary, this first major update to the ‘G’ logo since 2015 signals a subtle but meaningful shift in Google’s branding strategy, blending tradition with innovation as the company deepens its focus on AI and modern design aesthetics.

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Ixigo Halts Bookings for Flights and Hotels to Turkey, China

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Indian online travel platform ixigo has suspended all flight and hotel bookings to Turkey, China, and Azerbaijan in response to these countries expressing support for Pakistan after India’s military strikes-dubbed ‘Operation Sindoor’-against terror bases in Pakistan and Pakistan-Occupied Kashmir. The move, announced by CEO Aloke Bajpai on X, was described as an act of solidarity with India during heightened diplomatic tensions following the Pahalgam terror attack.

ixigo’s decision aligns with similar actions by other Indian travel companies, including EaseMyTrip and Cox & Kings, which have also restricted travel services to Turkey, China, and Azerbaijan. The suspensions come amid widespread calls for boycotts after these countries condemned India’s military response and backed Pakistan.

The travel industry’s collective response underscores how geopolitical developments are influencing business decisions, with Indian companies emphasizing national interests and unity in the face of international criticism

 

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