Whalesbook
AI startup Mobavenue Technologies has secured INR 100 crore through a preferential issue, allotting shares at INR 1,088 each to 10 non-promoter investors including Pipal Capital Management. The company plans to use 75% of the funds for strategic acquisitions and investments, aiming for expansion and revenue growth. This funding boost follows a strong Q2 performance and a significant stock rally, with shares already up 5% post-announcement. The capital will enhance AI capabilities and global market presence.