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By EquityPandit

EquityPandit

EquityPandit
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ByteDance Launches Share Buyback After Shelving IPO Plans

ByteDance Inc., the Chinese owner of short-video platform giant TikTok, launched a share buyback this week for current and former employees, two people with direct knowledge of the matter said. The ByteDance share buyback comes after it announced in April that it did not have imminent plans for an initial public offering (IPO). The company had planned to list some of its Chinese businesses including TikTok’s Chinese version Douyin in Hong Kong, sources told.


Company founder Zhang Yiming last week surprisingly announced that he will step down as CEO, a move that comes as Chinese regulators are increasing scrutiny of the country’s biggest technology firms. ByteDance said eligible shareholders can apply to sell their shares by June 20 at $126 per share for current employees and $100.80 per share for former employees, the sources said. The price for current employees during an earlier buyback last November was $60 a share, the sources added.

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AmpereHour Energy Secures $5 Million in Funding to Expand Energy Storage Solutions

Ali Waghbakriwala

Energy storage startup AmpereHour Energy has raised $5 million (approximately Rs 43.6 crore) in a funding round led by climate-focused investment firm Avaana Capital, with participation from UC Impower and existing angel investors.

This follows the company’s earlier funding round, where it secured $2.45 million from AngelList and other investors. The latest funds will be utilized to enhance manufacturing and software capabilities, drive research and development (R&D), and accelerate product innovation.

Founded in 2017 by Ayush Misra, Rahul Shelke, Harshal Thakur, and Neehar Jathar, Mumbai-based AmpereHour Energy specializes in battery energy storage systems that support businesses and power grids in storing and managing electricity efficiently. The company focuses on stationary energy storage for power infrastructure.

Its proprietary Elina energy management software is designed to optimize battery performance for renewable energy integration, backup power, and grid stability. The company serves major clients, including Amazon, Siemens, Coca-Cola, and Indigrid, and has deployed projects at over 50 locations.

Currently, AmpereHour is in the process of commissioning around 50 megawatt-hours (MWh) of energy storage capacity, with plans to scale up to 1 gigawatt-hour (GWh) over the next 18 months based on existing contracts. The company is also expanding its geographical presence, with ongoing projects in Oman and Nigeria, while new ventures in Belgium and the UAE are currently under commissioning.

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Darwinbox Secures $140 Million to Expand Internationally

Ali Waghbakriwala

Indian SaaS startup Darwinbox, which offers a platform for hiring, onboarding, and employee management, has raised $140 million to compete with industry leaders like Rippling and Deel while accelerating its global expansion, particularly in the U.S.

The funding round, co-led by KKR and Partners Group, includes both primary and secondary share sales, with several unnamed investors partially exiting their stakes. Darwinbox’s investor lineup features Microsoft, Salesforce, Sequoia, TCV, Peak XV (formerly Sequoia India), and Lightspeed.

With this latest round, Darwinbox’s total fundraising has reached approximately $270 million. While the company did not disclose its exact valuation, co-founder Jayant Paleti confirmed to TechCrunch that it was an up-round. Reports last week suggested the company’s valuation stands at around $950 million. Notably, Darwinbox was previously valued at over $1 billion during its 2022 funding round.

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In the competitive HR-tech space, giants like Deel and Rippling command valuations between $12 billion and $13 billion, while Darwinbox also contends with legacy players such as SAP, Oracle, and Workday.

Despite being smaller than some rivals, Darwinbox stands out as part of the new wave of homegrown enterprise startups emerging from India and Southeast Asia, reflecting the region’s growing tech ecosystem beyond e-commerce.

The company serves over 1,000 enterprise clients, managing employee administration for more than 3 million users. It primarily targets mid-market companies with 3,000+ employees.

Currently, 60% of Darwinbox’s revenue comes from outside India, with the U.S. being its fastest-growing market. To strengthen its presence, co-founder Jayant Paleti has relocated to Texas, positioning the company for further expansion in North America.

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Rezolv Secures $3.5 Million in Seed Funding

Ali Waghbakriwala

Rezolv, a debt resolution platform catering to banks and non-banking financial companies (NBFCs) has raised $3.5 million in a seed funding round led by 3one4 Capital.

Founded in October 2024 by Karan Mehta and Sonali Jindal, who previously co-founded the digital lending startup Kissht, Rezolv leverages advanced analytics, AI, and GenAI to enhance debt recovery processes. The platform operates purely as a software and analytics solution.

Rezolv aims to streamline the debt collection cycle by integrating digital communication, automated reminders, interactive voice response (IVR) calls, field visits, legal workflows, and analytics, enabling lenders to create efficient and policy-compliant collection systems.

One of its standout features is real-time AI auditing, which monitors customer interactions with agents or the system, flagging potential violations of lender policies. By consolidating collections, legal case management, and customer interactions into a single platform, Rezolv eliminates the inefficiencies of using multiple tools. AI-driven data analytics further enhance the recovery process by analyzing customer behaviour and payment patterns.

A key innovation is Rezolv’s AI-powered early warning score, which helps lenders identify potential defaulters before they miss a payment. By predicting at-risk borrowers and segmenting them based on behaviour and payment intent, the platform optimizes recovery strategies while reducing costs.

The system also enables lenders to intervene early with personalized nudges, payment plan restructuring, or alternative repayment options before resorting to aggressive collection tactics. Its flagship product, Strategy Builder, allows lenders to design and automate workflows, leveraging AI-driven optimizations to improve outcomes within one to three months.

Rezolv aspires to become the industry standard by offering an all-in-one platform that integrates digital communication, field collections, legal workflows, and analytics. It will compete with established players such as Credgenics, Spocto, and Creditas in the debt resolution space.

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Paytm Teams Up with Perplexity AI to Introduce AI-Powered Search

Ali Waghbakriwala

Gurugram-based fintech giant Paytm has partnered with AI startup Perplexity AI to integrate real-time, AI-driven search capabilities into its app. This collaboration aims to enhance user experience by providing instant, reliable financial insights to millions of Indian consumers.

This partnership represents a major leap in India’s digital payments landscape, enabling users to ask financial questions, explore topics in local languages, and receive answers backed by trusted sources.

As India’s digital economy expands, AI-powered search will help users navigate market trends, manage finances, and engage with technology more efficiently.

Perplexity AI, known for its fast and accurate AI-powered responses, will drive Paytm’s in-app search, delivering real-time insights on financial decisions and broader market movements.

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Vijay Shekhar Sharma, Founder & CEO of Paytm, emphasized AI’s role in transforming information access, stating, “With Perplexity, we are bringing the power of AI to millions of Indian consumers, making financial knowledge more seamless and accessible.”

Aravind Srinivas, CEO & Co-founder of Perplexity AI, highlighted the significance of the collaboration, “We are excited to partner with Paytm, a pioneer in India’s mobile payment revolution. Our AI-powered search technology will help millions make informed decisions effortlessly.”

This partnership marks a step toward a future where AI enhances everyday digital interactions, making financial services more intuitive and accessible for users across India.

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Vidyut Secures $2.5 Million in Funding From Flourish

Ali Waghbakriwala

The full-stack electric car ecosystem platform Vidyut stated in a statement on February 26 that it has received $2.5 million from global fintech investor Flourish Ventures. 

The release stated that further funding will help the business broaden its batter-as-a-service offerings in the passenger and commercial EV industries. The funding will expand Vidyut’s Battery-as-a-Service offerings in the passenger and commercial EV markets.

“With proven unit economics, strong 15% month-on-month growth, and long-term OEM partnerships, this investment will help us scale our innovative financing and lifecycle solutions across new vehicle segments,” said Xitij Kothi, co-founder of Vidyut.

Vidyut was established in 2021 by Kothi and Gaurav Srivastava with the intention of reducing the price of commercial EV ownership and providing customers with a risk-free choice through its ownership plans.  

VT offers a basic term loan plan as well as a hybrid financing option that lowers the initial cost of an EV by 40–50% by combining a vehicle loan with a battery subscription.

The company helps to unbundle batteries from EVs and offer them on a pay-per-kilometre subscription basis, which reduces the initial cost of 3W EVs by 35–40%, “making them significantly cheaper than ICE vehicles from day one”.

“We at Flourish Ventures believe that finance will have a key role in enabling actions towards climate change. As the economy transitions to sustainable solutions like electric vehicles, access to credit will play a key role to adoption in India,” said Harsh Gupta, Principal of Flourish Ventures.

Prior to this, the company had raised $10 million from investors led by 3One4 Capital in a Series A round. 

Zephyr Peacock, Saison Capital, Alteria Capital, and Force Ventures participated in the round.

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