PhonePe is preparing for a $1.5 billion IPO, aiming for a $15 billion valuation. Backed by Kotak Mahindra Capital, JPMorgan Chase, Citigroup, and Morgan Stanley, it’s set to be one of Indian fintech’s largest public offerings. Founded in 2015 by Sameer Nigam, Rahul Chari, and Burzin Engineer, PhonePe now serves over 535 million users. A Walmart-owned company via the Flipkart deal, it's expanding into insurance, lending, and wealth to become India’s go-to financial platform.
Cato Networks raised $359 million in a Series G round, pushing its valuation to $4.8 billion. The funding was co-led by Vitruvian Partners and ION Crossover Partners, with ongoing backing from Lightspeed Venture Partners, Acrew Capital, and Adams Street Partners, bringing the company’s total funding to over $1 billion. Founded by Gur Shatz and Shlomo Kramer, Cato delivers a cloud-native SASE platform that integrates networking and security. Trusted by 3,500+ enterprises, it enables secure, seamless connectivity across people, locations, and cloud environments.
xAI raised $10 billion in new funding—split between $5 billion in equity and $5 billion in debt—to accelerate its AI ambitions. The debt round, led by Morgan Stanley, drew participation from global institutional investors despite earlier reports of limited demand. Founded by Christian Szegedy, Elon Musk, Kyle Kosic, Manuel Kroiss, and Toby Pohlen, xAI is the company behind the Grok chatbot and is building a massive AI supercomputer in Memphis, expected to go live in 2025. The new capital will support data center expansion, model training, and the development of safe, advanced AI for real-world applications.
Grammarly acquired Superhuman, an AI-powered email client, as part of its strategy to expand its productivity suite. Founded by Alex Shevchenko, Dmytro Lider, and Max Lytvyn, Grammarly provides an AI writing assistant offering grammar correction, tone analysis, plagiarism detection, and generative suggestions across web, desktop, and mobile. Its advanced tools—such as citation generation, brand tone control, and style guides—help users communicate with clarity and consistency. The acquisition aims to boost productivity for both individuals and organizations.
The Open Platform raised $28.5 million in a Series A round, reaching unicorn status with a $1 billion valuation. The equity round was led by Ribbit Capital, with Pantera Capital also participating, bringing the company’s total funding to over $70 million. Founded by Andrew Rogozov, The Open Platform develops infrastructure and applications on Telegram’s TON blockchain, including wallets, NFT marketplaces, decentralized exchanges, and games. The new funding will support expansion into the U.S. and EU, strengthen security, and help onboard Telegram’s billion-plus users into the crypto ecosystem.
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