Finance automation startup Hyperbots raises $6.5 million from Arkam Ventures, Athera Venture Partners, others
Hyperbots, a startup building AI co-pilots for finance and accounting, raised $6.5 million in Series A funding led by Arkam Ventures and Athera. The funds will support US expansion, new product development, and the launch of HyperLM, its finance-trained proprietary language model.
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Economic Times
4 days ago
- Economic Times
Listing or blitzing?! Figma stock soars 250% higher on Day 1 on Wall Street
Figma Inc. witnessed a remarkable 250% surge on its IPO debut, marking the largest first-day increase for a US-traded company exceeding $1 billion in three decades. Despite subsequent volatility, its market value soared to $61.5 billion, surpassing expectations from its abandoned Adobe merger. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads AI-based Product Tired of too many ads? Remove Ads Figma Inc stock jumped 250% on Thursday in the largest first-day pop in at least three decades for a US-traded company raising more than $1 billion. They turned volatile on their second trading day, rising as much as 333% above the initial public offering (IPO) price, before paring San Francisco-based company's stock traded at $126 each, as of press time, versus the IPO price of $33 per trading gives Figma a market value of $61.5 billion, based on the outstanding shares listed in its filings. Accounting for employee stock options and restricted stock units, and restricted stock units for chief executive Dylan Field, which are subject to vesting conditions, the fully diluted value is roughly more than $73 well in excess of the $20-billion mark it would have reached in a now-scrapped merger with Adobe shares offered in Figma's IPO were ultimately more than 40 times oversubscribed, with more than half of the orders receiving no stock, people familiar with the matter have IPO made billions of dollars for its largest venture capital investors too. The company's biggest VC backer, Index Ventures, invested nearly $100 million in the company when it was a startup. By the end of trading Wednesday, Index's stake in Figma was worth $7.23 backer Greylock Partners led the company's Series A funding round in 2015, when it was valued at 20 cents per share. It has made investments of about $50 million into Figma, according to a person familiar with the deal. Its stake was worth $2.03 billion stake at the time of the IPO - representing a multiple of more than 40 times what the firm invested, the person said. Greylock's stake, excluding shares sold, climbed on Thursday to about $6.75 firms reaping multibillion-dollar gains are joined by other big-name include Kleiner Perkins and Sequoia Capital, both of which bet on the company when it was still an upstart. The windfalls are particularly significant for the VC industry, which has until recently endured a long drought in the IPO markets. The offering is being seen as a potential catalyst for other startups after a three-year freeze in the tech listings is used to design web and mobile application interfaces. It charges clients based on the number of users and the kind of seat those users firm, which has highlighted its focus on AI, has also benefited from Wall Street's enthusiasm for the technology. The boom fuelled a sharp rally in tech stocks over the past year and drove up valuations and investor demand for companies seen as central to the AI ecosystem."In order for application software companies to remain relevant and provide value to end users, they will need to implement GenAI capabilities which represents a potential catalyst for adoption and increased usage of Figma," said Gil Luria, analyst at DA Davidson, in a had net income of $44.9 million and revenue of $228 million in the three-month period ended March 31, according to its filings. It reported revenue growth in 2024, though rising operating expenses contributed to a net loss of $732 million for the a maker of software for creative professionals, walked away from the deal to buy Figma following clashes with regulators. It paid a $1 billion termination fee.
Time of India
4 days ago
- Time of India
Listing or blitzing?! Figma stock soars 250% higher on Day 1 on Wall Street
Live Events AI-based Product (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Figma Inc stock jumped 250% on Thursday in the largest first-day pop in at least three decades for a US-traded company raising more than $1 billion. They turned volatile on their second trading day, rising as much as 333% above the initial public offering (IPO) price, before paring San Francisco-based company's stock traded at $126 each, as of press time, versus the IPO price of $33 per trading gives Figma a market value of $61.5 billion, based on the outstanding shares listed in its filings. Accounting for employee stock options and restricted stock units, and restricted stock units for chief executive Dylan Field, which are subject to vesting conditions, the fully diluted value is roughly more than $73 well in excess of the $20-billion mark it would have reached in a now-scrapped merger with Adobe shares offered in Figma's IPO were ultimately more than 40 times oversubscribed, with more than half of the orders receiving no stock, people familiar with the matter have IPO made billions of dollars for its largest venture capital investors too. The company's biggest VC backer, Index Ventures, invested nearly $100 million in the company when it was a startup. By the end of trading Wednesday, Index's stake in Figma was worth $7.23 backer Greylock Partners led the company's Series A funding round in 2015, when it was valued at 20 cents per share. It has made investments of about $50 million into Figma, according to a person familiar with the deal. Its stake was worth $2.03 billion stake at the time of the IPO - representing a multiple of more than 40 times what the firm invested, the person said. Greylock's stake, excluding shares sold, climbed on Thursday to about $6.75 firms reaping multibillion-dollar gains are joined by other big-name include Kleiner Perkins and Sequoia Capital, both of which bet on the company when it was still an upstart. The windfalls are particularly significant for the VC industry, which has until recently endured a long drought in the IPO markets. The offering is being seen as a potential catalyst for other startups after a three-year freeze in the tech listings is used to design web and mobile application interfaces. It charges clients based on the number of users and the kind of seat those users firm, which has highlighted its focus on AI, has also benefited from Wall Street's enthusiasm for the technology. The boom fuelled a sharp rally in tech stocks over the past year and drove up valuations and investor demand for companies seen as central to the AI ecosystem."In order for application software companies to remain relevant and provide value to end users, they will need to implement GenAI capabilities which represents a potential catalyst for adoption and increased usage of Figma," said Gil Luria, analyst at DA Davidson, in a had net income of $44.9 million and revenue of $228 million in the three-month period ended March 31, according to its filings. It reported revenue growth in 2024, though rising operating expenses contributed to a net loss of $732 million for the a maker of software for creative professionals, walked away from the deal to buy Figma following clashes with regulators. It paid a $1 billion termination fee.
Time of India
5 days ago
- Time of India
EVeez raises $5.4 mn to expand electric mobility access for gig workers
EVeez , electric mobility-as-a-service provider, has secured $5.4 million in Series A funding to scale its two-wheeler subscription platform, focused on gig economy workers. The round was led by the Michael & Susan Dell Foundation, with participation from Caret Capital, ThinKuvate, Ev2 Ventures, Barbershop With Shantanu, SailThru Ventures, and Ah Ventures Fund. EVeez currently operates a fleet of 7,000 electric vehicles across 15 Indian cities. The company plans to expand to 30 cities and deploy 50,000 vehicles by FY27. It aims to enable over 40,000 new gig workers to access clean mobility and livelihood opportunities during this period. Low-cost access to EVs for India's gig economy The EVeez model offers weekly subscription plans starting at ₹1,100, targeting workers in delivery, logistics, and ride-hailing services. The company claims that 55% of its current users are first-time gig workers, while 45% have shifted from internal combustion engine vehicles. The latter group has seen improved take-home pay due to lower fuel and maintenance costs. Abhishek Dwivedi, co-founder and COO of EVeez, said, "With India projected to have more than 20 million gig workers in the near future, EVeez is strategically positioned to revolutionise how this workforce accesses clean mobility solutions. We are committed to greening the last mile and making electric mobility accessible to everyone participating in the gig economy." The EVeez subscription model includes repairs, insurance, battery-swapping partnerships, and EV training, aiming to reduce downtime and remove ownership-related financial burdens. EVeez focuses on bridging the gap between transport access and economic opportunity for low-income youth in urban India.
