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Tag: Entrackr : Latest Posts

  • Portkey Raises $15M to Expand AI Control Platform, Enhance Governance and Observability

    This article was generated by AI and cites original sources.

    Portkey, a platform for building AI-powered applications, has secured $15 million in a Series A funding round led by Elevation Capital, with participation from Lightspeed. This investment will enable Portkey to expand its AI control plane and enhance its go-to-market operations, focusing on agent-based systems, permissions, identity management, and performance optimization for low-latency use cases.

    Founded by Rohit Agarwal, Portkey specializes in building a unified control plane for production AI systems. Their platform integrates an AI gateway with governance, observability, reliability, and cost management functionalities, allowing enterprises to efficiently manage model usage, enforce policies, and monitor spending in real-time.

    Portkey boasts impressive processing capabilities, handling over 500 billion LLM tokens daily, 125 million requests, and managing $500,000 in AI spend for 24,000 organizations globally. Customers such as Postman and Snorkel AI have benefited from Portkey’s services.

    In a strategic move, Portkey has made its core enterprise gateway accessible for free, simplifying the implementation of governance and observability controls for AI deployments. This initiative aims to encourage early adoption of essential AI management practices.

    Elevation Capital’s $400 million fund, launched last year, emphasizes long-term support for companies, including those eyeing IPOs. This investment complements their early-stage capital deployments from Fund VIII, a $670 million vehicle catering to startups with investments ranging from $2–5 million.

    Source: Entrackr : Latest Posts

  • CoinDCX’s Record ESOP Buyback Boosts Employee Wealth in Crypto Sector

    This article was generated by AI and cites original sources.

    Crypto exchange CoinDCX has announced a significant ESOP (Employee Stock Ownership Plan) buyback valued at Rs 111 crore, benefiting over 500 current and former employees. This move aims to foster wealth creation within the company.

    The buyback follows CoinDCX’s substantial post-money valuation of $2.45 billion after receiving an undisclosed investment from Coinbase earlier this year. The platform also garnered $135 million in funding in April 2022, solidifying its position in the crypto market.

    CoinDCX co-founder Sumit Gupta highlighted the resilience of the Indian crypto industry despite regulatory challenges. He credited the company’s strength to the trust of millions of customers in India and the UAE, as well as support from investors and partners.

    Established in 2018, CoinDCX offers crypto trading and investment services to a user base exceeding 20 million in India. The platform caters to both retail and institutional investors, with a wide array of supported assets and trading pairs. In 2024, CoinDCX expanded into the MENA region through the acquisition of BitOasis.

    Operating under the DCX Group umbrella, which includes CoinDCX Ventures and the Web3 wallet platform Okto, CoinDCX has positioned itself as a prominent player in the crypto space.

    This ESOP buyback aligns with a broader trend in 2026, with several notable companies like Cashfree, Innovaccer, and BrowserStack also implementing similar programs. The activity in ESOP buybacks reflects a dynamic shift in employee incentivization strategies within the tech and startup ecosystem.

    Source: Entrackr : Latest Posts

  • JM Financial Expands into Pre-IPO Investments with New AIF Launch

    This article was generated by AI and cites original sources.

    JM Financial Asset Management has unveiled its inaugural pre-IPO Alternative Investment Fund (AIF), dubbed ‘The Pre-IPO Fund,’ under Category II. The fund recently secured approval from the Securities and Exchange Board of India (SEBI), marking the firm’s strategic move to enter the rapidly growing pre-IPO investment sector.

    The primary objective behind introducing the Pre-IPO Fund is to establish a comprehensive AIF ecosystem that nurtures the upcoming wave of businesses in India. This initiative is structured to offer specialized capital solutions spanning credit, real estate, and pre-IPO prospects.

    Targeting companies poised to go public within 18 months, the Pre-IPO Fund is designed to capitalize on the escalating trend of pre-IPO investments, recognized for their potential to yield superior risk-adjusted returns, especially amidst the maturing startup and private markets in India.

    Overseeing the fund’s operations is Jaisinh Suchak, the Managing Director of Alternative Investment Funds at JM Financial Asset Management, bringing extensive financial services experience spanning 23 years and a decade of buy-side expertise to the table.

    By rolling out its debut Pre-IPO AIF, JM Financial Group aims to diversify its private equity offerings and solidify its standing as a reliable investment partner. Leveraging market insights, robust governance protocols, and established fund management capabilities, the firm seeks to unearth distinctive investment prospects for stakeholders navigating India’s evolving private markets.

    Source: Entrackr : Latest Posts

  • Enforcement Directorate Freezes $62 Million in Winzo Funds Amid Money Laundering Probe

    This article was generated by AI and cites original sources.

    The Enforcement Directorate (ED) has taken significant steps in its investigation of the real-money gaming platform Winzo. The agency has provisionally attached overseas bank balances totaling approximately Rs 505 crore (around $62 million) in the United States and Singapore. This move is part of an ongoing money laundering probe, with the ED alleging that the funds are associated with unscrupulous activities by Winzo.

    The bank accounts, operated under the names of Winzo US Inc. and Winzo SG Pte. Ltd., are said to be controlled by the company’s founders. The ED’s actions follow earlier search and seizure operations and a subsequent prosecution complaint under the Prevention of Money Laundering Act.

    The accusations against Winzo include facilitating real-money gaming without proper disclosure, limiting customer withdrawals, and earning commissions through matches between bots and users. The agency claims Winzo amassed alleged proceeds of crime amounting to billions of rupees, part of which was allegedly funneled abroad as investments.

    With this recent attachment, the total funds frozen in connection to this case now reach around Rs 1,194 crore (approximately $147 million). The ED’s thorough investigation underscores the intensifying scrutiny on the real-money gaming sector and the ongoing efforts to combat financial crimes.

    Source: Entrackr : Latest Posts