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Funding abCoffee Secures $3.4M in Series A Investment abCoffee, a technology-driven grab-and-go specialty coffee company, has raised $3.4 million in a Series A funding round led by Nexus Venture Partners, with participation from existing investor Tanglin Venture Partners. The fresh capital infusion will be utilized by abCoffee to expedite its supply chain and enhance its technology stack. Founded in 2022 by Abhijeet Anand, an alumnus of IIT Dhanbad with over eight years of experience at Schlumberger, a leading oil and gas multinational, abCoffee aims to democratize specialty coffee consumption in India. Abhijeet Anand, Founder & CEO of abCoffee, expressed excitement about the partnership with Nexus Venture Partners and the continued support from Tanglin Ventures, affirming the company's commitment to making specialty coffee accessible and enjoyable for all in India. Drivers4Me Secures Rs 3 Crore in Seed Funding

Drivers4Me, an app-based driver-aggregator startup, has raised Rs 3 crore in a seed round of funding. Founded in 2018 as a college project by Rajarshi Nag and Paramartha Saha, the company offers solutions for hiring professional and trained drivers through an app instantly, based on distance, location, and duration. With over 2.5 lakh app downloads and availability on both Android and Apple platforms, Drivers4Me aims to utilize the funding to expand its business operations across India. The investors' roster includes esteemed names such as Sagar Daryani of Wow Momo, Arun Mukherjee of TABP, and Manish Kumar Singh of FortWise Capital. Bummer Raises Rs 9.25 Cr led by Gruhas Collective Consumer Fund

Bummer, a direct-to-consumer (D2C) innerwear startup brand, has raised Rs 9.25 crore in a pre-Series A1 funding round led by Gruhas Collective Consumer Fund. Founded in 2020 and gaining recognition from Shark Tank, Bummer plans to utilize the funds to expand into Tier II and beyond locations, aiming to establish over 10,000 offline touchpoints across various formats within the next five years. Additionally, the capital will be allocated towards team building initiatives. Bummer expects to derive 50% of its revenues from key cities such as Ahmedabad, Indore, Hyderabad, Chandigarh, Bhopal, and Jaipur. Sulay Lavsi, the Founder and CEO of Bummer, expressed enthusiasm for the funding round, marking a significant milestone in the company's journey. Other Developments

- UPI Now Accepted in Nepal: NPCI International Payments Ltd (NIPL) and Fonepay Payment Service Ltd have announced the live integration of Unified Payment Interface (UPI) for cross-border transactions between India and Nepal.

- Navana.ai Launches Bodhi Streaming Speech Recognition API for Indian AI: Navana.ai has introduced 'Bodhi,' its second-generation Multilingual Voice AI model, designed to cater to businesses across India.

- NAB Innovation Centre India Expands with New Office Opening: National Australia Bank (NAB) has inaugurated its second office in DLF Downtown, strengthening its technology teams and operational services in India.

- SignDesk Wins Bootstrapped SaaS Startup of the Year Award at SaaSBoomi Awards: SignDesk, a RegTech company, has been honored as the 'Bootstrapped SaaS Startup of the Year' at the SaaSBoomi Awards, recognizing its contributions to the Indian SaaS industry.