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.
Deepinder Goyal Blinkit Owns 50 percent of the Indian Quick Commerce Market
According to Deepinder Goyal, the former CEO of Eternal, Blinkit holds a nearly 50% market share in India's rapid commerce sector. Goyal stated that he is still optimistic about the company's standing in the face of industry competition, notably from Amazon. With competitors like Blinkit, Zepto, and Swiggy Instamart as well as recent arrivals like Flipkart Minutes and Amazon Now, the statement is made in the midst of growing rivalry in India's rapid commerce market.Deepinder Goyal, the founder of Eternal, has stated that Blinkit is not in a "burn-to-earn mode," claiming that the fast commerce platform is still profitable despite growing industry rivalry. Goyal stated in a Financial Times interview that Blinkit, which Eternal paid $560 million to purchase in 2022, currently controls almost half of the rapid commerce market while continuing to be profitable. Goyal told the Financial Times, "I really believe that the quick commerce sector is different from Blinkit." "At 50% of the market, we are profitable. "He added that rivals were making significant investments to spur expansion, saying, "The rest of the industry is in a burn-to-earn mode." "We don't cut our shipping price to nothing or engage in discounts. Thus, we are genuinely profitable. The comments are made in light of Eternal's rapid commerce business's robust expansion in FY26. Blinkit revenue increased 674.2 percent year over year to Rs 13,232 crore, according to Eternal's January–March quarter results, making it the company's biggest growth driver. In Q4 FY26, Eternal, the parent company of Zomato, Blinkit, District, and Hyperpure, reported a 346.15 percent increase in consolidated profit after tax to Rs 174 crore, while operating revenue increased 196.4 percent year over year to Rs 17,292 crore.
Anurag Sharma CFO of Pocket FM Resigns
In 2021, Sharma became the vice president of finance at the audio entertainment platform. In 2023, he was promoted to CFO. According to a Pocket FM representative, he left his job to pursue entrepreneurial options. He had executive roles at businesses including BK Birla Group, Busana Apparel Group, Ninjacart, and others before joining Pocket FM.Following a nearly five-year tenure, Anurag Sharma, Pocket FM's chief financial officer, is departing the company, signaling a significant leadership shift at the audio entertainment platform. "Anurag Sharma has made the decision to leave Pocket FM."Anurag Sharma has made the decision to leave Pocket FM. Over the years, he has made significant contributions and played a significant role in the company's development. We appreciate his leadership and collaboration while he was here, and we wish him all the best as he pursues future business possibilities," a company representative stated. In 2021, Sharma became vice president of finance at Pocket FM, where he contributed to the company's fundraising initiatives, operational effectiveness, and strategic alliances. In April 2023, he was promoted to CFO of the corporation. This development was initially reported by Entrackr. Sharma oversaw the finance department at Ninjacart, a business-to-business agritech firm, prior to joining Pocket FM. Additionally, he has worked for Ernst and Young, PricewaterhouseCoopers, and the BK Birla Group of Companies.
Awfis Q4 Revenue Up 23%, Profit Doubles YoY at ₹23 Cr
In Q4 of FY26, Awfis recorded a net profit of ₹23.2 Cr, increasing 107% from ₹11.2 Cr in the same quarter last year. Operating revenue reached ₹410.1 Cr, up 21% YoY and 7% QoQ. The entire amount spent by Awfis during the quarter was ₹405.6 Cr, a 17% increase from ₹347.5 Cr during the same period in FY25.With net premium income of ₹1,64,691.21 crore (₹1,47,585.56 crore), the total income increased by more than 14% to ₹2,76,827.17 crore (₹2,41.625.02 crore), resulting in the larger profit. Investment income was ₹1,09,022.04 crore (₹93,132.67 crore).Net profit rose 19.25% to ₹57,419 crore (₹48,151 crore) for the fiscal year that concluded in March (FY26). The total revenue increased to ₹8,84,148.22 crore, or ₹9,73,288.26 crore. At ₹5,35,984 crore (₹4,88,148 crore), the total premium income was about 10% more. According to CEO and MD R. Doraiswamy, 2025–2026 has been a fulfilling year due to record performance indicators and excellent overall growth across all company verticals. LIC's VNB margin is higher than 21% for the year, and it attained a nonpar share on APE basis in the individual business of more than 35%. Assets under management (AUM) increased 5.08% to ₹57,29,396 crore, while VNB increased 41.63% to ₹14,179 crore.
After Q4 Profit Doubles to ₹32 Cr, Ixigo Rises 6%
According to a statement from Ixigo, the company's PAT was Rs 16.8 crore during the same period last year. The company's operating revenue increased by 8% during the reviewed quarter to Rs 308.1 crores from Rs 284.1 crores during the same period last year. We had year-over-year increases in sales of 34% and adjusted EBITDA of 28% in FY26. Aloke Bajpai, Group CEO of ixigo, and Rajnish Kumar, Group Co-CEO, said, "The next phase of our journey is all about reinventing our organization and customer experience by putting AI at the core."
NPCI Will Provide Merchants With Unified Soundbox Infrastructure Report
According to reports, the National Payments Corporation of India (NPCI) is creating an interoperable, shared soundbox infrastructure to facilitate Unified Payments Interface (UPI) payments across various applications. The proposed framework would enable retailers to employ a single soundbox regardless of the payment method clients use for transactions, according to an ET story citing sources familiar with the discussions.For stores and small enterprises, where soundboxes are now a standard feature, the effort might greatly ease the receipt of digital payments. Merchants may soon be able to handle all transaction alerts using a single, interoperable system rather than depending on many devices connected to various QR codes. According to a person familiar with the work, retailers would just need to link many QR codes to the same setup and register the soundbox using a single payment application. Regardless of the platform utilized for the transaction, payment confirmations would still be notified via a single soundbox under the suggested methodology.
Mekr, an electronics manufacturing platform, raises ₹67 Cr to support research and development.
Titan Capital Winners Fund participated in the investment round, which was headed by Avaana Capital. Mekr intends to increase its spending in R&D, product engineering, proprietary tooling, and supplier localization with the new funding. It runs a digital manufacturing platform that assists businesses in producing electronic goods by handling supply chains, sourcing, components, and assembly.With participation from Titan Capital Winners Fund, Mekr Technologies, a full-stack design and manufacturing platform for consumer appliances, has secured ₹67 crore in a Series A round managed by Avaana Capital. Anand Yadav and Gaurang Kuchhal founded the business in 2022 with the goal of creating an integrated system for the design and production of household goods in India. From concept and prototype to tooling, certification, and mass production, the platform encompasses the whole product lifecycle. This facilitates the quicker and more effective deployment of energy-efficient products by brands.In order to directly address India's structural reliance on foreign appliance components, Mekr is developing foundational engineering and unlocking manufacturing capabilities. Faster innovation cycles, more cost effectiveness, and more robust supply chains are made possible by its design-led, modular architecture. We think that platforms like Mekr, which are creating large-scale, globally competitive, design-first production ecosystems, would improve India's manufacturing and supply chain resilience and establish the nation as a global manufacturing hub. Vikas Verma, Avaana Capital Partner
At a valuation of $2.6 billion, Infra.Market will raise a pre-IPO round of ₹500 crore.
Infra.MarketInfra is a building materials platform.According to sources who spoke to Market Datalabs_in-article-icon is in negotiations to raise ₹500 Cr (about $53 Mn) at a post-money valuation of ₹25,000 Cr (around $2.6 Bn) from current supporters and new institutional investors in a pre-IPO round.The sources also stated that the startup's cofounders, Aaditya Sharda and Souvik Sengupta, as well as current investors Tiger Global, Accel, and Nexus Venture Partners, will take part in the round.The business is anticipated to finish the investment round in the upcoming weeks and plans to go public in the following four to six months. The pre-IPO round comes at a slightly higher valuation than Infra.Market’s ₹732 Cr Series G round in September 2025 which valued the platform at about ₹24,600 Cr. Until this story was published, Infra.Market had not responded to a questionnaire. According to Infra.Market's regulatory filings, investors like as Tiger Global, Accel Partners, Evolvence India, Nexus Venture Partners, Ashish Kacholia, and Sumeet Kanwar of Verity have already contributed ₹235 Cr of the total amount. Infra.Market, a marketplace for building supplies such ready-mix concrete, tiles, and paints, was established in 2016. It uses technology to digitize the procurement process and sells through its retail and business-to-business network. Among the brands in its portfolio are Shalimar Paints, Millenium Tiles, and RDC Concrete. To date, Infra.Market has raised more than $740 million in investment. Notably, earlier this year, Ascertis lending, a Singapore-based private lending platform, raised ₹1,250 Cr in debt capital.
By Q4 2026, Pixxel and Sarvam will launch an orbital data center satellite.
In the final quarter of 2026, the Spacetech startup intends to launch India's first orbital data center satellite, handling every stage of the project from design to operation. The satellite, called Pathfinder, is being built by the startup in collaboration with Sarvam, an AI business. The startup plans to open Gigapixxel, a future production plant with a capacity of 100 satellite units, prior to constructing the satellite. Gigapixxel will design the Pathfinder."The existing approach is becoming more difficult to sustain environmentally, and ground-based data centers are experiencing rising limits related to energy, land, regulation, and scalability. According to Awais Ahmed, CEO and cofounder of Pixxel, "orbital data centers open up a new frontier where compute can be powered by abundant solar energy, operate closer to space-based data, and move beyond some of the limitations faced on Earth." While Sarvam will manage its AI-based training and inference directly in orbit, with its full-stack language models operating onboard the Pathfinder, Pixxel will construct, launch, and run the 200-kg satellite. Organizations with strategic, commercial, and compute-intensive needs that could profit from the construction of orbital data centers will be the focus of the cooperation. Unlike current orbiting computing stations that rely on low-power edge processors, the Pathfinder will host terrestrial data center-class GPUs, according to Google-backed Pixxel. Additionally, Pixxel's hyperspectral imaging sensor will be installed on the satellite, enabling it to collect high-fidelity hyperspectral data and analyze it in orbit using Sarvam's foundation AI models. Sarvam's models and inference platform, which will operate directly on the satellite's GPU computing layer and process data while in orbit, will be installed on the Pathfinder, keeping the satellite's whole value chain in India.According to Pixxel, the system will be able to recognize trends, spot changes, and produce insights in real time by utilizing AI in orbit. Conventional satellites, on the other hand, send unprocessed pictures down to Earth for examination, which can result in delays between data collection and decision-making. The technology can be utilized for earth observation, which is necessary for use cases such as resource management, critical infrastructure tracking, and environmental monitoring. Pratyush Kumar, cofounder and CEO of Sarvam, stated, "Having models built in India operating in orbit aboard an India-built satellite is exactly the kind of foundational capability that the country needs to control its own intelligence infrastructure."
India Receives Its Second Space Port, Excitement for Rocket Startups
Today, Prime Minister Narendra Modi will lay the foundation stone for India's second launch site, Kulasekharapatnam, which is situated in the Thoothukudi district of Tamil Nadu. This will significantly advance the nation's spacefaring endeavors. The new launch pad has the small rocket community in India, including ISRO and startups, giddy with anticipation for more efficient small rocket launches.Up until now, all rockets used to launch satellites into orbit were launched from the nation's single spaceport, which was located in Sriharikota, Andhra Pradesh. To date, India has launched 95 rockets from Sriharikota, 80 of which have been declared successful. Renamed the Satish Dhawan Space Center, it began modestly in 1971 with the launch of a sounding rocket, the RH-125. The center is currently getting ready for India's human spaceflight project, Gaganyaan, to launch. Satish Dhawan Space Center has a distinct advantage—it is one of the world's southernmost rocket ports—but it also has a major disadvantage. The land mass of Sri Lanka presents a safety concern for rockets launching in polar or southerly directions because it keeps rocket debris from landing on foreign soil.In order to lessen this, ISRO has traditionally carried out a unique manoeuvre referred to as the "dogleg maneuver" in order to avoid Sri Lanka when conducting direct southward launches. Although there is a penalty for this maneuver, it can be tolerated for larger rockets with sufficient fuel, such as PSLV, GSLV, and LVM-3. But the advantages of using Sriharikota as the preferred launch site become clear as India gains proficiency in the launch of smaller rockets, such as the Small Satellite Launch Vehicle (SSLV), which can carry satellites weighing up to 500 kilograms. According to an ISRO rocket specialist, it becomes almost impossible to launch small rockets from Sriharikota in polar or southern trajectories with payloads weighing between 500 and 700 kg. As a result, Kulasekharapatnam has been chosen as the second launch site to address these issues because of its expanding small rocket market.
Germanys Foundamental and Other Investors Provide Funding for Fashinza Cofounders Proptech Startup Marrfa
"SYNOPSIS: According to Jamil Ahmad, the funds will be utilized for tech innovation, hiring talent from other regions, and expansion throughout the UAE, Singapore, and Europe. Marrfa is a managed real estate marketplace with a comprehensive stack that seeks to democratize global access to high-yield investment possibilities. After serving in that capacity for almost four years, Ahmad resigned as chief business officer of B2B marketplace Fashinza in January of this year. Berlin-based VC company Foundamental led a pre-seed round that saw the undisclosed amount of investment raised by co-founder Jamil Ahmad of Fashinza's proptech startup, Marrfa. Angel investor Prashant Malik, general partner of US-based Tykhe Block Ventures, took part in the round as well. Working capital funding totaling $30 million has been obtained by Fashinza from Mars Growth Capital and Liquidity Group. By automating the whole debt lending cycle, Liquidity Group, a trailblazing technology company, has become the fastest-growing lender to mid-market and late-stage companies internationally. The money will support Fashinza's further development into an international company with major operations in the USA, the Gulf, and Europe. Fashion is always changing, but never more so as it is right now in the era of Instagram and Tiktok, which rapidly affect global fashion choices. Fashion brands need to have extremely effective supply chain management and be very nimble in order to stay ahead of the curve. If they continue to depend just on big manufacturers as they did in the past, this is not feasible. Fashinza offers a creative solution to this issue by putting SMEs in direct contact with leading global fashion brands. Through the development of an online marketplace that facilitates seamless connections between customers and sellers, Fashinza is transforming the fashion industry in the rapidly evolving digital era. ""The global fashion supply chain is changing because to Fashioninza. We were sufficiently confident in their ability to scale this business and sustain in the medium- to long-term based on their performance since inception, the strength of their founding team, and their current global network of manufacturers and customers ""said Navas Ebin, MD of APAC for Mars Growth Capital and Liquidity Group. The money will be used by Fashinza to cover its expanding needs for working capital on a global scale. ""Our capital is non-asset based and will hence support Fashinza to grow their business internationally in the most capital-efficient manner,"" stated Navas Ebin. ""Fashinza is a pre-unicorn with great potential and ambitions for the world. ""Investment Manager Nir Shmueli of Mars Growth Capital and Liquidity Group stated, 'The prospects for a long-term partnership with the company are exciting. We have been helping companies like Fashinza transition into becoming truly global businesses."" "
In light of Paytm and Byjus worries, a government committee is expected to finalize the startup regulatory framework in two months.
According to officials in the Ministry of Finance, the Ministry of Corporate Affairs is taking a close look at big, unlisted companies in the wake of recent regulatory issues at Byju's, Paytm Payments Bank, and BharatPe.To create a regulatory framework for large unlisted startups, the government-appointed Company Law Committee met last month and is set to meet again soon.This program supports the government's objective of encouraging startup expansion in the face of corporate governance and regulatory obstacles that large companies such as Byju's and Paytm Payments Bank must overcome.Supervising businesses not directly under the purview of the Securities and Exchange Board of India (SEBI) and the Reserve Bank of India (RBI) is the aim of this regulatory framework."We are speeding up the report and conducting an ongoing inspection against Byju's." If the Reserve Bank of India contacts us about Paytm Payments Bank, we would look into it," the official said.According to the insider, BharatPe recently received a new notification from the Delhi Police's Economic Offenses wing requesting further information on the findings in a status report.According to sources, the committee is also evaluating standards and guidelines for board directors and investors in order to improve control without placing an excessive regulatory burden on them.The Committee, which is led by the corporate affairs secretary, is made up of specialists, government representatives, and members of the business community. Its main goal is to make conducting business easier while ensuring that the Companies Act of 2013 and the Limited Liability Partnership (LLP) Act of 2008 are implemented effectively.A private company incorporated under company law and recognized as such by notification from the Department for Promotion of Industry and Internal Trade (DPIIT) is considered a startup.In the midst of the Paytm Payments Bank Ltd. crisis, Institute of Chartered Accountants of India President Ranjeet Kumar Agarwal announced on Sunday that the fintech company's problems may be discussed by the financial reporting review board (FRRB) soon. The tech-based education unicorn Byju's accounts are presently being reviewed by the statutory body's FRRB due to purported governance concerns, and the process is going smoothly, according to the president of ICAI."We haven't thought about the PayPal issue up to this point, but the FRRB board meeting is coming up, and when it does, it will discuss taking necessary action. In regards to this topic, we haven't made any decisions thus far," ICAI President Ranjeet Kumar Agarwal stated to PTI in an interview.According to him, newly elected ICAI committees, such as FRRB, are anticipated to convene in March. Remarkably, because of purported regulatory concerns, the Reserve Bank of India, which oversees the banking industry, has already placed limits on Paytm Payments Bank Ltd.According to him, the FRRB will decide whether further examination of the books is required in light of the claims of regulatory violations and how they affected the payment bank's accounting. "The board has the authority to decide who gets reviewed and when. Its system is strong," declared the recently elected head of ICAI. When asked if the ICAI was anticipating a complaint about Paytm, Agarwal responded, "The institute has the authority to take action both through complaints and suo motu." It was suo motu in the instance of Byju."Speaking on behalf of Byju, he stated that "the report is expected by the end of this year" and that the board's scrutiny process is "going well." "The board has a three-tier structure—technical, group, and finally the board review," the ICAI chief stated while describing the FRRB organization. He asserts that the FRRB has the authority to examine the financial statements of publicly traded corporations.
Shark Tank judges gave Rs 2 Cr to ReFit Global, a D2C reconditioned marketplace.
ReFit Global is a direct-to-consumer (D2C) marketplace for refurbished items. Anupam Mittal, Vineeta Singh, and Amit Jain are among the Shark Tank judges who have donated Rs 2 crore at a valuation of Rs 200 crore.The funds raised will be used to improve operations, broaden the company's market reach, and fortify its technological foundation. ReFit Global also hopes to enhance its web presence and client satisfaction.Saket Saurav and Avneet Singh launched ReFit Global, which runs a network of over 50,000 stores in nearly 100 locations. The startup intends to become a profitable enterprise worth at Rs 1,000 crore within the next five years."Building a strong alliance with a broad collection of skilled sharks, each offering their own ideas and knowledge, was our main goal. The goal of this opportunity is to provide ReFit a more distinct vision and market positioning, according to ReFit Global CEO and founder Saket Saurav.Saket Saurav and Avneet Singh launched ReFit Global. On Shark Tank India Season 3, the direct-to-consumer (D2C) refurbished marketplace ReFit Global raised Rs 2 crore at a valuation of Rs 200 crore.three days beforehandReFit Global, a well-known direct-to-consumer (D2C) marketplace for refurbished goods, has secured $2 million at a valuation of $200 million from renowned Shark Tank judges, such as Amit Jain, Vineeta Singh, and Anupam Mittal.The organization intends to carefully allocate capital to enhance its technology infrastructure, broaden its market reach, and expedite operational expansion. To further consolidate its place in the market, ReFit Global also hopes to improve client satisfaction and its online presence. ReFit Global, which was co-founded by Saket Saurav and Avneet Singh, has a strong network of more than 50,000 shops in about 100 locations. Within the next five years, the firm is determined to reach a significant milestone: becoming a profitable entity valued at Rs 1,000 crore.ReFit Global's founder and CEO, Saket Saurav, stressed the strategic importance of forging a vibrant alliance with a varied collection of skilled sharks, each of whom brings a special set of views and knowledge. He eagerly took advantage of this chance to improve ReFit's positioning in the industry and sharpen its vision.ReFit Global, a bootstrapped company, takes great pleasure in its extraordinary growth trajectory, having secured Rs 200 crore in FY23 and achieved an amazing 100x year-over-year growth.ReFit Global has reached a major milestone with the successful investment in Shark Tank Season 3, setting the company up for future growth and success in the competitive reconditioned market.One of the leading companies in the Direct-to-Consumer (D2C) refurbished sector is ReFit Global. By obtaining Rs 2 Crore in finance at an astounding valuation of INR 200 Crore, it accomplished a noteworthy milestone. This achievement was made possible by the sharks on the panel during their riveting Shark Tank India Season 3 pitch, where they acknowledged the potential of ReFit's business plan.
