StartUps
StartUps are the backbone of any country and in any Industry as these are the new ventures which entrepreneurs establish and then contribute to the nation growth and progress. The stratups will then grow and become unicorns and create thousands of employments in different sector boosting the economy and take it to the next level.
Top Print Advertisers from July to September 23, 23: TAM AdEx, SBS Biotech, Maruti Suzuki, and Kia
In 2023, Top10VPN calculated the worldwide economic impact of shutdowns, which included 79,238 hours of government-mandated internet outages, to be $9.01 billion. This indicates that India was responsible for approximately 6.5% of the total economic damage caused by internet outages worldwide.The cost of these disruptions—which included significant ISP throttling, internet blackouts, and shutdowns of social media—was estimated using a variety of metrics from the US Census, the World Bank, the ITU, and Eurostat.In India, internet outages are not unusual. India experienced 92 internet shutdown occurrences in 2023, and just a few days into 2024, the nation has already recorded another internet outage, according to SFLC.in's internet shutdown tracker. Furthermore, the Center has a history of taking action against particular websites and pressuring social media companies to remove content at their request. Authorities have disagreed with digital rights advocates over shutdowns, despite citing grounds including putting an end to rumors and misinformation.Since many users rely on online services for information and business, internet disruptions come at a high cost since they reduce trade, which has an economic impact.
Pre-Series A Funding of Rs 10 Crore is Secured by Settl for Co-Living Expansion
In a pre-series A investment round, investors including Gruhas, We Founder Circle, Inflection Point Ventures, and others have contributed Rs. 10 crore to the proptech startup Settl. Settl., which was founded in 2020, intends to use the money for technology advancement, staff growth, and working capital.With 60+ locations across Bengaluru, Hyderabad, Gurugram, and Chennai, Settl. is a co-living operator that offers 4000 beds, mostly for working people, for rental fees between Rs 12,500 and Rs 18,000 per bed.To date, the portal that lets users look for and rent completely furnished rooms, flats, or communal living spaces has raised a total of Rs 15 crore.Another IIT Madras initiative aims to support 100 businesses by 2024. By 2024, 100 companies from a variety of industries will be supported by the IIT Madras Incubation Cell (IITMIC), the institute's central hub for fostering, advising, and supervising diverse innovation and entrepreneurship initiatives."We at IIT Madras take tremendous satisfaction in the fact that we innovate a lot more. In 2024, we also want to launch 100 start-ups. A number of intriguing innovations are also emerging from IIT Madras-incubated start-ups, including Mindgrove Tech, AgniKul Cosmos, and Hyperloop start-up The ePlane Company. These startups will produce goods that are extremely important to the country." remarked Professor V. Kamakoti, Director of IIT Madras.
A diagnostics business is getting ready to launch a blood testing product in Austin and San Antonio.
Babson Diagnostics has successfully obtained important FDA clearance for its blood testing products following years of cooperation and trials. Listen to the most recent episode of Texas Business Minds to hear about the startup's history, its funding efforts, and the Texas towns it plans to debut in this year, including San Antonio.A diagnostic firm is getting ready to launch a blood testing product in Austin and San Antonio. Babson Diagnostics has successfully obtained important FDA clearance for its blood testing products following years of cooperation and trials. The creator of Babson Diagnostics is getting ready to introduce a cutting-edge blood test device. The founder, COO, and chairman of Austin-based Babson Diagnostics, a blood testing firm, is Eric Olson. He was recently a guest on the Texas Business Minds podcast.
How HRtech Startup Erekrut Is Revolutionizing Employers Hiring and Employee Job Search Processes
Since the start of the Covid-19 outbreak, hiring has been erratic. The alternatives available to recruiters have changed over time, ranging from totally remote, tech-driven interviews to in-person meetings brought on by the present back-to-office demands. Job seekers have also witnessed seismic shifts, with tech giants facing broad cuts and the "Great Resignation" giving way to enormous layoffs. Nevertheless, it's still difficult to get qualified applicants through the door, even in this unstable labor market. As a result, businesses and recruiting managers seek to create a talent pipeline that is both efficient and affordable, as well as future-proof recruitment. There are numerous elements to a successful talent hunt, such as finding the ideal candidate, creating a memorable application process, and providing individualized growth plans. Additionally, hiring must be quick and scalable in order to avoid losing out on top talent, income, and credibility for the business. To keep ahead of the curve, nothing really works better than quickly identifying the top candidates for open positions and automating processes. However, in 2019 Amity University fashion student Ajay Goyal witnessed the other side of the story while working as a volunteer for the university's campus-to-corporate program. It was obvious at the time that traditional hiring would need to be fixed because of its drawn-out processes, slow candidate responses, and general impersonal approach that failed to draw in or accommodate outstanding talent. Ajay, being one to let things slide, went to his father, Dr. Ravinder Goyal, who was a professional with almost thirty years of expertise in vocational training and placement.
VinFast, A Rival To Tesla, Is Likely To Construct An EV Battery Plant In India
The test-prep startup Unacademy reported that, despite constant layoffs at the company, its losses in FY23 decreased by 41% to Rs 1,678 crore. In FY23, employee-related expenses decreased by 28% to Rs 1,281 crore.The test-prep startup Unacademy reported that, despite constant layoffs at the company, its losses in FY23 decreased by 41% to Rs 1,678 crore. In FY23, employee-related expenses decreased by 28% to Rs 1,281 crore.In what was a difficult year for the startup environment, many modern businesses, like Myntra, ZestMoney, and Curefoods, reported stronger revenues for FY23, but their losses also increased.Revenue at Myntra rises to Rs 4,375 crore: The apparel retailer Myntra, which is owned by Flipkart, reported a 25% increase in operating revenue to Rs 4,375 crore in FY23, despite a 31% increase in losses to Rs 782 crore. The online fashion platform's largest expense, amounting to Rs 1,758 crore, was spent on advertising and promotional activities, representing a 35% increase over the previous year.Unacademy reduces losses to Rs 1,678 crore, or 41%: Unacademy, a startup providing test preparation, reported that its losses in FY23, which included several layoffs at the company, decreased by 41% to Rs 1,678 crore. The Bengaluru-based firm saw a 26% increase in sales to Rs 907 crore during the year, while costs associated with payroll decreased by 28% to Rs 1,281 crore.ZestMoney reports a loss of Rs 412 crore. ZestMoney, a troubled startup that has been searching for a buyer, declared a net loss of Rs 412.4 crore for the fiscal year 2023. On the other hand, while total expenses increased by 21% to Rs 662.2 crore, overall revenue for the buy-now-pay-later platform increased by 72% to Rs 250 crore.
In 2023, India Lost A Hefty $584 Mn Due to Internet Shutdowns
VinFast, an electric vehicle manufacturer located in Vietnam and considered a competitor of Tesla and BYD in China, is expected to establish its first manufacturing facility in Tamil Nadu, India. Batteries intended for electric vehicles will be produced at the company's new plant in Thoothukudi, according to Reuters, which cited people with direct knowledge of the situation.According to one of the persons who spoke with Reuters, "Several VinFast officials have visited Thoothukudi district in Tamil Nadu to check out sites." There were rumors in September that VinFast had started employing people in India for back-office, sales, and legal positions. But it's unclear how much VinFast would invest and when it will start operating in Tamil Nadu.The corporation is looking into ways to enter the Indian market with electric automobiles and scooters.In 2023, internet outages cost India $585.4 million in lost revenue, according to a report published by UK-based review website Top10VPN. According to the survey, 59.1 million Indians were affected by 7,812 hours of internet blackouts and 144 hours of social media shutdowns that the nation experienced throughout the year.
Prerna Korla becomes a Director of Communications for Asia Pacific at Mastercard.
Prerna Korla is a new Director of Communications for Asia Pacific at Mastercard. With over 15 years of significant experience, Prerna is a communication and PR specialist who has worked with leading Indian and international B2B and B2C brands. Prerna spent more than two years as Manager, Senior Communications at Microsoft before joining Mastercard.She was the Uber South Asia and India Consumer Communications Lead. Prerna has also collaborated with a number of PR companies, such as Edelman and MSL Group India. Prerna Korla has been appointed by Mastercard India as the director of communications for Asia Pacific. She leaves Microsoft after working there for two years as a senior communications manager. Korla updated her LinkedIn post on this development. Korla was the head of customer communications for a brief period of time at Uber before.
Rajat Diwakar is appointed CEO of iD Fresh Foods India.
Rajat Diwakar has been named CEO of iD Fresh Food's India division, the business announced on Friday. Diwakar worked as the Managing Director of Marico Bangladesh Limited before being hired by iD Fresh Foods. Additionally, he has over 20 years of experience leading FMCG companies.Leader of iD Fresh India, Rajat Diwakar Delhi, New: iD Fresh Food, a ready-to-cook packaged food firm, strengthened its leadership team on a national and international level on Friday by appointing industry veteran Rajat Diwaker as the India CEO and PC Musthafa as the Global CEO.Today, iD Fresh Food announced the appointment of Rajat Diwaker, a seasoned industry veteran, as the CEO for India. Rajat is a seasoned professional with more than 20 years of experience in the FMCG sector. He was the Managing Director of Marico Bangladesh Limited in his previous position. Additionally, he serves as a director on the board of Bangladesh's Foreign Investors' Chamber of Commerce and Industry (FICCI).In addition to continuing to lead the board of directors, PC Musthafa, who founded iD Fresh and served in that capacity for almost 20 years, now assumes the position of global CEO. Musthafa will be in charge of iD Fresh's worldwide market innovations, as well as international expansions, strategic acquisitions, the development of food-tech capabilities, and organizational culture inspiration.iD Fresh plans to designate specific Business Heads and CEOs for every international market as part of its expansion strategy. In actuality, the business is currently employing a US CEO. At present, more than one-third originates from sources outside of India. In 2024, the company intends to increase its presence in the current markets while branching out into new ones like Singapore and Australia.The global CEO of iD Fresh Food, PC Musthafa, commented on the most recent development, saying, "iD Fresh's journey has been incredibly rewarding so far, and we continue to make tremendous strides." I'm happy to have Rajat Diwaker join the iD Fresh team. I have no doubt that in the years to follow, we will accomplish greater things and win over more hearts under his capable and visionary leadership. And because of the unwavering support from customers that we have accumulated over the years, I am excited to lead the brand into new international markets as we set off on new experiences.
Namma Yatri and Bengaluru City Police collaborate to introduce a program for female drivers.
App for automatic booking Mahila Shakti, an initiative by Namma Yatri, aims to increase the number of female drivers. The Bengaluru City Police and this initiative were partners in its launch.This curriculum provides a thorough one-month training course covering safe driving, traffic rules, maintenance of vehicles, and practical driving. It also helps women launch their own automobile enterprises.After the ladies finish the program, Namma Yatri helps them own low-interest cars through financial institutions and provides them with electric cars for a small daily rent.On January 5, 2024, the Namma Yatri app company launched Mahila Shakti in Bengaluru. In partnership with Bengaluru police and non-governmental organizations, ride-booking service Namma Yatri announced plans to hire 1,000 women drivers over the next six months.Bengaluru: In partnership with the Bengaluru City Police, Parihar, and the Dr. B R Ambedkar Health and Education Foundation, Namma Yatri, the city's community-focused ride-booking app, has introduced the Mahila Shakti program, which is aimed at empowering women drivers. The goal of this program is to enable women from a variety of backgrounds to become skilled electric vehicle drivers. A thorough one-month training course including practical driving, traffic rules, safety, and car maintenance is provided by the Mahila Shakti program. It also helps women launch their own automobile enterprises. The initiative, which targets women between the ages of 25 and 45, opens doors to increased income, financial independence, and flexible work schedules. Following the free training, Namma Yatri helps women obtain low-interest car loans from financial institutions and gives them access to electric cars for a little daily fee."We are thrilled to launch this program, in line with our mission for women's empowerment," said Parihar's leader, Smt. Rani Shetty. It is encouraging to see more women taking up driving, as this makes Bengaluru a safer and more welcoming city. Juspay's Chief Product Officer, Magizhan Selvan, discussed the advancements, saying, "Since August 2023, we have been empowering women drivers in partnership with NGOs like Shishu Mandir." We take great pride in the 50 female drivers we employ, who between them have driven 55,000 kilometers, served 11,000 clients, and earned a total of Rs. 12 lakhs. By June 2024, we want to have 1000 women driving. Lead trainer Nagalakshmi S P talked about her own experience, saying, "Being an auto driver was a turning point to support my family." Taking the lead on this project makes me very happy.A ground-breaking program that promotes women's economic empowerment and questions established gender conventions is the Mahila Shakti Electric Auto Program. With its EV technology and user-friendly software, it makes the acceptance of driving as a career easier. Due to increased freedom and higher pay, participants evaluated driving automobiles as more favourable than traditional career options like housekeeping or shopkeeping. Women who are interested in participating in the program can reach Namma Yatri at 080-69724800 or 8618963188 via WhatsApp.
MobiKwik Reports ₹7.6 Cr Profit in Q1, 3.7 percentage YoY Increase in Revenue
MobiKwik, a fintech startup, posted a consolidated net profit of ₹7.6 Cr in Q1 FY27 compared to a net loss of ₹41.9 Cr in the same period last year. Profit increased from ₹4.4 Cr by more than 72% sequentially. In the reviewed quarter, operating revenue increased slightly by 3.7% to ₹281.5 Cr from ₹271.4 Cr in the same period last year. It decreased 2.5% from ₹288.7 Cr on a QoQ basis.Despite a drop in revenue and operational profit, One MobiKwik Systems Ltd. recorded a significant sequential increase in earnings for the June quarter. From Rs 4.3 crore in the March quarter to Rs 7.6 crore in the current quarter, consolidated net profit increased by 76.7%. However, operating revenue fell 2.5% sequentially to Rs 281 crore from Rs 289 crore in the prior quarter.The MobiKwik wallet is run by One MobiKwik Systems Ltd., a digital payments and financial services company that also provides products in the areas of credit, insurance, investments, and merchant payments via its platform.
Table Space For Next Months $350 Million IPO Draft Papers: Report
India's startup ecosystem could soon witness another major public listing as managed workspace company Table Space is reportedly preparing to file its Draft Red Herring Prospectus (DRHP) with SEBI next month for an Initial Public Offering (IPO) worth up to $350 million. According to reports, the IPO is expected to include a fresh issue of shares worth around ₹1,000 crore along with an Offer for Sale (OFS) by existing investors. While the company has not officially confirmed the details, the move highlights the growing confidence in India's commercial real estate and flexible office space sector. Investment banks such as Axis Capital, IIFL Capital Services, BofA Securities, and CLSA are said to be managing the proposed public issue. Founded in 2017, Table Space has built its business by providing fully managed office spaces for large enterprises and global capability centres (GCCs) across major Indian cities. Unlike traditional coworking operators, the company focuses on customized office solutions for large corporate clients, offering everything from workspace design to day-to-day facility management. Today, it manages more than 11 million square feet of office space across over 80 centres and serves hundreds of enterprise customers. Although the company reported a significant accounting loss in FY25 due to exceptional items, its operating revenue grew by more than 50%, reflecting strong demand for premium managed workspaces. The planned IPO is seen as a strategic step to strengthen its financial position and support future expansion as India's office market continues to recover and grow.
Atyx, a wealth management startup, is founded by former CEO of Share.Market Ujjwal Jain.The AI
Former Share.Market CEO Ujjwal Jain has started a new fintech company called Atyx.AI, marking his return to the startup world. He has teamed up with Debopam Bhattacharjee, a former Microsoft researcher, to build the Bengaluru-based company. The startup was incorporated in June 2026 and is focused on using artificial intelligence to improve wealth management services for affluent individuals. The founders believe AI can make financial planning more personalised, efficient, and easier to access than traditional wealth management models.Ujjwal Jain is well known in India's fintech ecosystem. Before leading Share.Market at PhonePe, he founded WealthDesk and OpenQ, both of which were acquired by PhonePe in 2022. After spending several years building investment platforms and financial products, Jain decided to step away from his leadership role earlier this year to focus on creating a new AI-first venture. His experience in finance and technology is expected to play a key role in shaping Atyx.AI's future. The founders say Atyx.AI wants to move beyond simply selling investment products. Instead, the company aims to build a modern platform where AI can help people make smarter financial decisions based on their goals, risk profile, and long-term plans. While the startup has not revealed detailed information about its product yet, Jain believes that advances in artificial intelligence have created the right opportunity to redesign wealth management from the ground up.The launch of Atyx.AI also reflects a larger trend in the financial industry, where AI is increasingly being used for portfolio analysis, financial planning, customer support, and investment research. As more fintech companies adopt AI-driven solutions, competition in digital wealth management is expected to grow. With experienced founders and a clear focus on AI, Atyx.AI will be one of the startups to watch in India's evolving fintech landscape.
To expand its AI medical imaging marketplace, CARPL.ai has raised $10 million.
Delhi-based healthtech startup CARPL.ai has raised $10 million (around ₹96 crore) in a Series A funding round led by the International Finance Corporation (IFC), the private-sector investment arm of the World Bank Group. Existing investor Stellaris Venture Partners and other investors also participated in the funding round. The fresh capital will help the company strengthen its AI-powered medical imaging platform, expand into new international markets, and grow its technology, sales, and delivery teams. CARPL.ai operates one of the world's largest AI marketplaces for radiology, connecting hospitals and diagnostic centers with hundreds of artificial intelligence applications from multiple vendors through a single platform. Instead of integrating separate AI tools individually, healthcare providers can access a wide range of diagnostic solutions through one interface, making AI adoption faster, simpler, and more cost-effective. The company also plans to enhance its technology stack and expand beyond radiology into areas such as pathology and oncology, enabling broader AI-powered diagnostic support. The funding comes at a time when the healthcare industry is increasingly adopting AI to improve diagnostic accuracy, reduce reporting times, and support radiologists facing growing workloads. Although more than 1,000 FDA-cleared radiology AI applications are available globally, many hospitals struggle with deployment and integration. CARPL.ai addresses this challenge by offering a vendor-neutral platform that allows healthcare providers to evaluate, deploy, and monitor AI applications seamlessly within their existing imaging systems. With this investment, the company aims to accelerate global adoption of AI-driven medical imaging and strengthen its position as a leading healthcare AI platform.
IndiaMART Q1 Plans Lending Foray, Profit Increases 12 percent YoY To ₹172 Cr
IndiaMART InterMESH, one of India's largest B2B online marketplaces, has announced its financial results for the first quarter (Q1 FY27). The company reported a 12% year-on-year (YoY) increase in consolidated net profit, which reached ₹172.2 crore, compared to the same quarter last year. Its operating revenue also grew 11% YoY to ₹414.4 crore, showing steady growth in business despite challenging market conditions for small and medium enterprises (SMEs). The company said that better customer engagement, improved collections, and stable demand from businesses helped support its performance. A major highlight of the announcement was IndiaMART's plan to enter the lending business. The company aims to offer financial services, especially loans, to SMEs that use its marketplace. Since IndiaMART already has access to a large amount of business transaction data, it believes it can help lenders assess the creditworthiness of businesses more effectively. This move is expected to make it easier for small businesses to access working capital while also creating a new source of revenue for the company. The lending initiative will complement IndiaMART's existing digital business solutions for SMEs. The company also highlighted its continued focus on expanding its customer base and improving its technology platform. IndiaMART plans to invest in artificial intelligence (AI), digital tools, and product innovation to improve the experience for buyers and sellers. Management believes that India's growing digital economy and increasing adoption of online B2B commerce will provide long-term growth opportunities. The company remains focused on strengthening its leadership in the online business marketplace while expanding into new financial services. Industry experts believe that IndiaMART's entry into lending could become an important growth driver in the coming years. By combining its marketplace with financial services, the company can provide a complete business ecosystem for SMEs. Investors welcomed the strong quarterly results and the new business strategy, seeing it as a positive step toward diversifying revenue and supporting India's small business sector.
Scapia Declares a ₹20 Cr ESOP Purchase
Travel fintech startup Scapia has announced a ₹20 crore Employee Stock Ownership Plan (ESOP) buyback for its employees. The initiative allows eligible employees to sell a portion of their vested ESOPs, giving them an opportunity to convert their stock options into cash. The company said the move is aimed at rewarding employees for their contribution and strengthening its ownership-driven work culture. The announcement comes shortly after Scapia raised $63 million in fresh funding, led by General Catalyst, with participation from existing investors Peak XV Partners and Z47. The company plans to use the new capital to expand its travel and fintech offerings, improve its technology platform, and accelerate growth. Scapia's ESOP buyback reflects a growing trend among Indian startups of providing liquidity to employees before a public listing or acquisition. Such buybacks help employees realize the value of their stock options while encouraging long-term commitment and attracting new talent. Scapia, which offers travel-focused financial products in partnership with Federal Bank, has been expanding its services with new travel rewards, payment solutions, and booking features. The company said the ESOP buyback recognizes the efforts of its employees and reinforces its commitment to sharing the company's growth and success with its team.
WeWork India Drops 10 percent as Investor Sentiment Is Affected by Q1 Net Loss
Shares of WeWork India came under strong selling pressure on 17 July 2026, falling by as much as 10% during intraday trading after the company reported a consolidated net loss of ₹4.1 crore for the first quarter of FY27. The weaker-than-expected earnings result affected investor confidence, leading many shareholders to sell the stock despite the company's strong operational performance. Although the share price recovered slightly later in the trading session, it still ended significantly lower, showing that investors remained cautious about the company's profitability. The decline reflected concerns that the return to a reported net loss could delay expectations of consistent earnings growth.The financial results, however, presented a mixed picture. While the company reported a net loss under Indian Accounting Standards (Ind-AS), revenue from operations increased by around 28% year-on-year to ₹683.8 crore, indicating that demand for flexible office spaces continues to grow. Total expenses also increased as WeWork India invested heavily in expanding its business and opening new workspace capacity. The management explained that the reported loss was largely influenced by accounting treatment rather than weakness in the core business. According to the company, its IGAAP-equivalent profit remained positive, suggesting that underlying business operations continued to perform well. Despite the market reaction, WeWork India's operational indicators remained encouraging. The company reported record monthly sales in April, strong growth in desk bookings, and an occupancy rate of nearly 85%, with a large share of new business coming from existing customers expanding their office space. Renewal rates also remained high, reflecting strong customer satisfaction and stable demand for flexible workspaces. These figures indicate that companies continue to prefer flexible office solutions as hybrid work models become more common across India.The company is also continuing its expansion strategy. It currently operates dozens of centres across major Indian cities and has signed additional lease agreements that will significantly increase its operational desk capacity over the coming months. Management reaffirmed its guidance of more than 20% revenue and EBITDA growth during FY27 and plans to add around 28,000 new desks during the financial year. WeWork India also recently introduced new member services through its digital platform, aiming to diversify beyond coworking spaces into value-added business services.
Housing.com Will Be Acquired by Aurum PropTech For ₹458 Cr
Aurum PropTech has announced that it will acquire Housing.com, one of India's leading online real estate platforms, in an all-equity deal valued at ₹458 crore. The acquisition will be made by purchasing 100% of Locon Solutions Pvt. Ltd., the company that owns Housing.com, from REA India, a subsidiary of Australia's REA Group. The deal is expected to create one of India's largest integrated proptech platforms by combining Housing.com's property listing business with Aurum PropTech's technology, digital transaction, rental, and property management services. Aurum said the merger is part of its strategy to build an AI-powered real estate ecosystem that offers end-to-end services for homebuyers, sellers, developers, and brokers. As part of the transaction, REA India will receive shares in Aurum PropTech through a share-swap arrangement and will increase its stake in the company to 24.9%. The acquisition is subject to shareholder and regulatory approvals and is expected to be completed by September 2026. Industry experts believe this acquisition marks one of the biggest consolidation moves in India's proptech sector. By bringing together property discovery, financing, rentals, transactions, and digital services on a single platform, Aurum PropTech aims to strengthen its market position and improve the overall home-buying experience through advanced technology and artificial intelligence.
Shark Tank Fame Medial Closes Because of Growing Financial Stress
Reports from multiple startup-focused outlets say that Medial, the startup that gained attention after appearing on Shark Tank India, has shut down operations after running into a severe cash crunch. The company is reported to have informed employees that it could no longer sustain operations because it was unable to secure fresh funding and had exhausted its available cash. According to coverage, Medial had built a platform focused on India's startup ecosystem, offering startup news, funding updates, founder stories, and community engagement. Despite attracting attention through Shark Tank and building a niche audience, the company reportedly struggled to generate enough revenue and raise additional capital in a difficult funding environment. The shutdown comes at a time when many Indian startups are facing tighter investment conditions. Investors have become more selective, prioritizing profitability and sustainable business models over rapid expansion. This has made it challenging for early-stage startups to secure follow-on funding, leading several companies to downsize or close operations. Several startup news platforms and social media pages have also discussed Medial's closure, highlighting it as another example of the funding pressures affecting India's startup ecosystem in 2026. The news has sparked conversations among founders and investors about the importance of building sustainable businesses and maintaining adequate cash reserves during periods of reduced venture funding.
This quarter, CarDekho will file a DRHP for a ₹3,500 Cr IPO.
CarDekho, one of India's leading online automobile platforms, is preparing to take a major step toward becoming a publicly listed company. The company is expected to file its Draft Red Herring Prospectus (DRHP) this quarter for an Initial Public Offering (IPO) worth around ₹3,500 crore. Filing the DRHP is the first official step in the IPO process. The document is submitted to the Securities and Exchange Board of India (SEBI) and contains important details about the company, including its business operations, financial performance, risks, management, and how it plans to use the money raised through the IPO. After SEBI reviews and approves the document, the company can move forward with launching its IPO for public investors.CarDekho was founded in 2008 by Amit Jain and Anurag Jain. Over the years, it has grown into one of India's most trusted digital platforms for buying and selling new and used cars, comparing vehicle prices, reading reviews, and applying for car loans and insurance. The company has also expanded its business into other areas such as used vehicle financing, insurance services, and automobile retail technology. Through its digital-first approach, CarDekho has built a strong customer base across India and has also expanded its presence in several international markets. The proposed ₹3,500 crore IPO is expected to include a combination of fresh shares issued by the company and an offer for sale by some existing investors. The money raised through the fresh issue may be used to strengthen the company's technology, expand its business operations, repay certain debts, and support future growth plans. Existing investors may use the offer for sale portion to sell part of their holdings. The exact size of each component and other details will become clear after the DRHP is officially filed with SEBI.The IPO comes at a time when India's automobile market is growing rapidly, supported by rising demand for both new and used vehicles. More customers are now using online platforms to research, compare, finance, insure, and purchase vehicles. CarDekho has benefited from this trend by offering multiple services on a single platform, making the vehicle buying process easier and more convenient. The company also uses technology and data analytics to improve customer experience and help dealers and financial partners make better business decisions.
Mowito, a robotics startup, raises $3 million to increase its presence in the US.
Bengaluru-based robotics startup Mowito has raised $3 million (around ₹28.6 crore) in a pre-seed funding round to accelerate its growth and strengthen its presence in the United States. The investment marks an important milestone for the young deep-tech company, which is developing AI-powered software that enables industrial robots to learn complex tasks through observation instead of traditional programming.The funding round was led by Version One Ventures, with participation from All In Capital, Unisol, and iSeed. Several well-known angel investors also backed the startup, including AI researcher Soumith Chintala, robotics entrepreneur Adarsh Kulkarni, Ashish Kulkarni, and Vaibhav Domkundwar. Their participation reflects growing investor confidence in India's robotics and industrial AI ecosystem.Founded in 2024 by Puru Rastogi and Adityanag Nagesh, Mowito is building "Physical AI" models that allow standard industrial robotic arms to learn tasks by watching human operators. This approach reduces the need for complex coding and enables manufacturers to deploy robots more quickly on factory floors. The newly raised capital will primarily be used to expand operations in the US market, hire more engineering and go-to-market professionals, and increase deployments across automotive and electronics manufacturing companies. The startup aims to strengthen its presence in North America while continuing product development in India.According to CEO Puru Rastogi, the company's vision is to make robots learn the same way humans do—through observation and repetition. He said the funding will help Mowito accelerate the adoption of Physical AI and bring smarter automation to more manufacturing environments around the world.Mowito already operates in Bengaluru and Detroit, and claims that its AI-powered robots are being used by a Fortune 500 automotive company as well as one of the world's largest electronics contract manufacturers. The company's technology focuses on improving productivity, reducing manual intervention, and making industrial automation more flexible.
Vishal Gupta, CEO of PhonePe Insurance Arm, Resigns
Vishal Gupta, the Chief Executive Officer of PhonePe Insurance Broking Services, has stepped down from his position after spending nearly a decade with the Walmart-backed fintech company. Gupta announced his departure through a LinkedIn post, saying he is ready to begin a new entrepreneurial journey and build a startup from the ground up.Gupta joined PhonePe in 2016 as Vice President, where he led product management, user experience (UX/UI), customer experience, and risk functions. Over the years, he played a significant role in expanding PhonePe's financial services ecosystem and was appointed CEO of the insurance business in November 2023. Under his leadership, PhonePe strengthened its presence in India's fast-growing digital insurance market.In his farewell message, Gupta shared that he wants to "build from scratch, solve hard problems, find product-market fit, and earn the right to scale." While he has confirmed that he has founded a stealth startup, he has not yet disclosed details about the business or the industry it will focus on.Gupta's exit marks another high-profile leadership change at PhonePe. In recent months, the company has also seen the departures of senior executives from its subsidiaries, including the CEOs of Share.Market and Indus Appstore. These leadership transitions come as PhonePe continues to strengthen its organisational structure ahead of its long-awaited public listing.The leadership reshuffle comes at a crucial time for PhonePe. The fintech giant has reportedly postponed its initial public offering (IPO) due to market volatility, despite updating its draft IPO documents with the market regulator earlier this year. Even as it delays its listing plans, the company continues to expand across insurance, lending, wealth management, and merchant services while maintaining its leadership in India's digital payments ecosystem.Industry experts believe Gupta's departure reflects a broader trend in India's startup ecosystem, where experienced executives from established technology companies are increasingly choosing entrepreneurship. His move is expected to attract attention from investors and the startup community, while PhonePe is likely to focus on ensuring leadership continuity as it prepares for its next phase of growth.
