Top Trending StartUps News & Highlights
By issuing bonds, Navi Finserv, owned by Sachin Bansal, raises INR 150 Cr.
SUMMARY: The investors include Rishad Kairus Dadachanji, Pervin Kairus Dadachanji, and Kairus Shavak Dadachanji, the chairman of the Dadachanji Group, who have contributed INR 110 Cr. This occurs months after the loan startup declared its intention to use NCDs to raise INR 600 Cr. Cofounded in 2012 by Sachin Bansal and Ankit Agarwal, Navi Finserv specializes in lending products such as home, auto, and personal loans.Navi Finserv, a fintech unicorn run by Sachin Bansal, reportedly obtained INR 150 Cr through the issuing of bonds from six individual investors, following the company's announcement months earlier of aspirations to fund up to INR 600 Cr through the issuance of Non-Convertible Debentures (NCDs).An hour ago
Published 06 Jun 2024 10:08 AM
WinZo announces selection of 18 gaming startups to represent India at Gamescom Latam
The games that are included come in a variety of categories and genres, such as chess, racing, physics-based challenges, cricket, riddles, and racing games. Eighteen gaming businesses have been chosen by the vernacular skill gaming platform WinZO and the Department for Promotion of Industry and Internal Trade's (DPIIT) Startup India to represent India at Gamescom Latam, one of the biggest games exhibitions in the world. Games from a variety of categories and genres are included on the list, such as chess, racing, physics-based challenges, cricket, riddles, and racing games. According to the organization, these businesses are based in both bigger cities like Nashik and smaller ones like Hyderabad, Chennai, Pune, Kolkata, Bengaluru, Mumbai, and Delhi NCR. The titles that have been chosen include the cross-platform game Gods Of Cricket, the role-playing game Tanhaji The Maratha Warrior, the first-person survival horror game Kamla: Indian Exorcism, the narrative-driven 3D action-adventure game Unsung Empire: The Cholas, and the action role-playing game Frontier Paladin. The list also includes Kurukshetra: Ascension, an epic strategic card warfare game, Mr. Racer, a racing game for cars, Spook-A-Boo, an arcade game, and My Dream House, a casual Match3D+Decor game. Other games include the real-time chess game Tale of Honor, the shooter game Laser Tanks, the tile-matching game Timmy's Toy Rush, the puzzle game DetectiveIQ, the cricket game Bharat Cricket Premier League, the adventure game Mumbai Gullies, the hypercasual action game Elemental Escape, and the simulation game Tea Garden Simulator, which allows users to build and run their own tea empire. WinZO stated that a panel of seasoned industry professionals, including Suresh K Reddy, the Indian ambassador to Brazil, and Rohit Kumar Singh, the former secretary of the Indian government, chose the games from a pool of more than 100 technology and gaming businesses and technological institutes. (Fundação Getulio Vargas' São Paulo School of Business Administration) were also part of the panel. "India is positioned to lead the way in technical innovation because to its foundation of cutting-edge inventions and dedication to developing domestic talent. In a statement, Singh stated, "WinZO exemplifies this trajectory, harnessing the power of Indian creativity and technology to impact the global stage significantly." India's entry into LATAM, propelled by the export of technology and intellectual property, opens up new opportunities for our technology entrepreneurs, according to Rajesh Kumar Singh, Secretary, DPIIT. Developers who participate in this program pursue their goals and help India become a global leader in technology exports."
Published 06 Jun 2024 10:07 AM
DroneAcharya's Operating Revenue Soars 90%, Net Profit Doubles To 6.2 Cr in FY24
SUMMARY DroneAcharya's operating revenue climbed from INR 18.56 Cr in FY23 to INR 35.19 Cr in FY24, an almost 90% rise. The firm ascribed this rise to the business's constant and steady expansion as a drone solution supplier and drone-focused training institution. The startup's overall revenue increased to INR 37.35 Cr in FY24 from INR 19.13 Cr the previous year, including other revenues.In the fiscal year 2023–24 (FY24), the drone startup DroneAcharya Aerial Innovations, based in Pune, declared a consolidated profit after tax (PAT) of INR 6.2 Cr, over two times higher than the INR 3.42 Cr recorded in the same period of the previous fiscal year.Operating revenue for DroneAcharya climbed by about 90% from INR 18.56 Cr in FY23 to INR 35.19 Cr in FY24. The company's continuous and consistent growth as a drone solution provider and drone-centric training organization was credited by the startup for this increase.DroneAcharya, established in 2017 by Prateek Srivastava, provides a range of drone solutions for data processing, multi-sensor drone surveys, and pilot training, among other uses. Last year, the business ventured into the production of drones. In July 2023, it entered into a commercial production, assembly, and export agreement for drones and related goods with Gridbots Technologies, a robotics business based in Gujarat.The startup's overall revenue increased from INR 19.13 Cr to INR 37.35 Cr in FY24 when other income was factored in."At the moment, DroneAcharya is the top and most innovative DGCA-certified drone pilot training provider in India for the private sector. The company added in a statement that it has also made great progress in securing several international drone service projects, valuable industrial relationships with drone manufacturers, investments in drone-related businesses, and acquisitions of value-adding enterprises in India and throughout the world. DroneAcharya operated two DGCA-certified drone pilot training facilities in Pune and Gujarat up till last year. The corporation added two more new centers at IIT Ropar in Punjab and Jaipur in FY24, doubling the number. "The introduction of our line of type-certified agricultural spraying drones will be our first rollout for FY25. We are also steadily advancing internationally, emerging as one of India's foremostNoteworthy is the fact that DroneAcharya Aerial Innovations received an order earlier this year from the Adani Group to offer drone pilot training certified by the Directorate General of Civil Aviation (DGCA). Additionally, it obtained a contract in January from the Indian Army to supply advanced drone training and capacity building at the Mechanized Army Courses Group in Ahmednagar. It entered into an agreement with Vimaan Aerospace in February to supply drones, as well as services and training linked to drones.
Published 06 Jun 2024 10:06 AM
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.
Published 28 Feb 2024 05:29 PM
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.
Before the IPO, Groww Founders Give Up Their Differential Voting Rights
SUMMARY: Groww cofounders Harsh Jain, Lalit Keshre, Neeraj Singh, and Ishan Bansal will also lose their differential voting rights as a result of the deal. The amount of bonus CCPs given to Groww's investors was unclear, even if they were given to current backers at no additional expense. This almost immediately follows rumors that Groww plans to submit its DRHP for a $1 billion initial public offering (IPO) to SEBI by April or May of this year. All current equity shareholders, including Peak XV, Ribbit Capital, YC Holdings, Tiger Global, and others, will get bonus compulsorily converted preference shares as part of the proposed deal, which also eliminates the founders' unequal voting rights.Groww, also known as Billionbrains Garage Ventures Private Limited, has undergone a major restructure that has been approved by the Competition Commission of India (CCI). The decision authorizes the issuing of bonus compulsorily convertible preference shares to all current Groww equity owners and permits some shareholders to obtain additional voting rights.
BorderPlus, Mayank Kumar's first acquisition with a German company
SUMMARY: BorderPlus, a talent mobility startup founded by Mayank Kumar of upGrad, has made its first acquisition, purchasing German healthcare recruitment company Onea Care, just days after receiving its first round of funding. Kumar stated that the buyout will aid in growing the startup's activities in the nation, albeit without disclosing the deal's financial details. In a statement, BorderPlus stated that as part of its mergers and acquisitions (M&As) strategy, it intends to put aside $10 million (INR 85.5 crore) to strengthen its position in regions such as Germany and India.UpGrad cofounder Mayank Kumar's talent mobility business BorderPlusBorderPlus Datalabs_in-article-icon has made its first acquisition, purchasing German healthcare recruitment firm Onea Care, only days after receiving its first round of funding. Kumar stated that the buyout will aid in growing the startup's activities in the nation, albeit without disclosing the deal's financial details. As part of its mergers and acquisitions (M&As) strategy, BorderPlus stated in a statement that it intends to put aside $10 million (INR 85.5 crore) to strengthen its position in markets such as Germany and India. In order to streamline its operations, including employment, language training, and the smooth integration of healthcare experts, the business also hopes to power its digital first solutions.BorderPlus is a talent mobility platform that provides Indian blue-collar workers with worldwide employment prospects. It was launched last year by Kumar and Ayush Mathur, the former head of European operations for OYO. The company began by giving Indian nurses employment possibilities in German healthcare facilities.Owl Ventures led the startup's initial $7 million investment round in February, with involvement from angel investors such as Ritesh Agarwal, the creator of OYO, and Binny Bansal, the founder of Flipkart. In October of last year, Kumar left his position as managing director of upGrad to start his business.Owl Ventures led the startup's initial $7 million investment round in February, with involvement from angel investors such as Ritesh Agarwal, the creator of OYO, and Binny Bansal, the founder of Flipkart. In October of last year, Kumar left his position as managing director of upGrad to start his business.
In 2025, Foxconn plans to increase its production of iPhones in India.
Foxconn is eyeing doubling iPhone production to 25-30 Mn units from last year’s 12-13 Mn at its India facilities in the ongoing calendar year The manufacturer is betting on its Bengaluru unit to add to the production push Foxconn’s bid to deepen its India presence is in-line with Apple’s plans to produce its products in India, as the Tim Cook-led company looks to diversify its supply chain and reduce dependence on ChinaThe firm has spent the last three to four months conducting limited testing activities at its new Bengaluru location, according to an ET article. According to a source who spoke to the journal, the tests are being carried out to see if the facility can manufacture Apple's flagship product on a large scale without compromising quality standards."The company assembled roughly 12 million iPhones in India last year. However, they have set much greater goals in keeping with Apple's drive to increase their footprint in India, especially since their Bengaluru plant is soon to be built," the person continued. In 2023, the Taiwanese electronics company purchased a 300-acre property close to Bengaluru airport. The project's establishment has been funded by INR 25,000 Cr from the firm. When finished, the facility would be able to produce 20 million smartphones a year, making it Foxconn's largest operation in India and the second largest globally. The state government will give Foxconn an incentive of INR 6,970 Cr for its Bengaluru facility under the state's Electronics System Design and Manufacturing (ESDM) policy, Karnataka Chief Minister Siddaramaiah announced earlier this month.It is important to note that throughout the past few months, the Taiwanese corporation has been aggressively expanding in the nation. According to a report last week, the corporation and its joint venture partner HCL are negotiating the establishment of an outsourced semiconductor assembly and testing (OSAT) facility in the state of Uttar Pradesh with Taiwanese construction engineering firm CTCI and Larsen & Toubro (L&T).Additionally, it is rumored to be in talks with the Tamil Nadu government to establish a battery manufacturing facility on roughly 200 acres of state property.
"INR 22,919 Cr PLI Scheme for Electronic Components Approved by the Cabinet "
To increase the nation's independence in the electronics supply chain, the union cabinet today authorized the Electronics Component Manufacturing Scheme, which will cost INR 22,919 Cr. The plan intends to draw in INR 59,350 Cr in investment, which will produce INR 4,56,500 Cr and create 91,600 new direct jobs in addition to numerous indirect jobs. The program has a six-year duration with a one-year gestation period. With an investment of INR 22,919 Cr, the union cabinet today authorized the eagerly anticipated production-linked incentive (PLI) scheme for non-semiconductor electronics components, aiming to increase India's independence in the electronics supply chain.On Friday, March 28, 2025, Union Minister Ashwini Vaishnaw declared that a plan to manufacture non-semiconductor electronics components had been authorized by the Union Cabinet. The total cost of the production-linked incentive program will be ₹22,919 crore. The production of electronics has grown at an unprecedented rate.
With its expansion to 170 cities, Amazon Fresh
More than 170 cities and towns now offer Amazon Fresh, the grocery service offered by Amazon India. Amazon Fresh is expanding into tier-II and tier-III areas, which include Gorakhpur, Chittoor, Ambala, and Vijayawada, after previously operating in just 130 cities. The expansion takes place at the same time that Amazon Fresh's second half of 2024 saw a 50% year-over-year (Y-o-Y) increase over the second half of the previous year. Amazon has extended its grocery service, Amazon Fresh, to over 170 cities and towns in India amid the fierce competition for quick delivery.More than 170 towns and localities nationwide now have access to Amazon Fresh, the full-basket grocery service offered by Amazon India. Amazon Fresh's expansion aligns with its 50% year-over-year (Y-o-Y) growth in the second half of 2024 compared to the second half of 2023.Fruits, vegetables, dairy products (such as milk and bread), frozen goods, cosmetics, personal care items, baby care necessities, and pet supplies are all available on Amazon Fresh."Customers value our service and want Amazon Fresh to expand to their cities," stated Srikant Sree Ram, director of Amazon Fresh India, in an interview.
The government lowers import taxes on essential EV battery components.
The government has eliminated import taxes on a number of products and raw materials needed in the production of mobile phones and EV batteries. The Center is taking action to mitigate the effects of reciprocal tariffs imposed by US President Donald Trump, which are scheduled to go into force on April 2. India would be exempt from import duties on 35 products required to build EV batteries and 28 items used to manufacture mobile phones, according to Finance Minister Nirmala Sitharaman. The government has eliminated import taxes on a number of products and raw materials needed in the production of EV batteries and cell phones, which will further stimulate the production of electric vehicles in India.Import taxes on EV and phone battery components are eliminated by the government. In an effort to support domestic manufacturing, Finance Minister Nirmala Sitharaman declared on Tuesday, March 25, 2025, that import taxes would be eliminated on 28 products used in the production of mobile phone batteries and 35 capital goods used in the production of EV batteries.
Shiprocket, bound for the IPO, delivers to Bengaluru the same day.
SUMMARY At the moment, cities such as Delhi NCR, Mumbai, Kolkata, and Hyderabad offer Shiprocket's same-day delivery service. The company hopes to expedite deliveries to micro, medium, and small businesses with this move. Additionally, Shiprocket plans to go public in the next fiscal year. It became a publicly traded corporation in January and changed its name to "Shiprocket Limited."Currently, cities like Delhi NCR, Mumbai, Kolkata, and Hyderabad can use Shiprocket's same-day delivery service. The company hopes to expedite deliveries to micro, medium, and small businesses with this move. Additionally, Shiprocket plans to go public in the next fiscal year. It became a publicly traded corporation in January and changed its name to "Shiprocket Limited."Logistics unicorn shiprocketshiprocket Datalabs_in-article-icon has now extended its same-day delivery service into Bengaluru as instant delivery is becoming more popular in India due to rising customer demand for quicker shipping and pressure from competitors for e-commerce companies to provide such services.
Promotion of Betting Apps: Vijay Devarakonda, Rana Daggubati, and Others Face FIR
OVERVIEW Prakash Raj, Rana Daggubati, Manchu Lakshmi, Praneetha, Nidhi Agarwal, and Vijay Devarakonda are among the people named in the Cyberabad police's FIR. Prakash Raj and Rana Daggubati are accused of using pop-up advertisements to promote Junglee Rummy, which is owned by the Flutter Entertainment Group. According to the Center, it issued directives earlier this week to restrict 1,298 gambling websites and apps between 2022 and 2024.According to reports, 25 people—including Tollywood actors and social media influencers—have been charged for promoting unlawful gaming, betting, and casino apps by Telangana's Cyberabad police.Police books in Telangana 25 Tollywood stars: On Wednesday, the Cyberabad police in Telangana arrested 25 individuals, including social media influencers and Tollywood stars, for allegedly encouraging unlawful gaming, betting, and casino apps that resulted in financial losses for the general population. Actors Rana Daggubati, Prakash Raj, Vijay Devarakonda, Manchu Lakshmi, Praneetha, and Nidhi Agarwal are among the 25 people listed in the FIR.Prakash Raj and Rana Daggubati, identified as accused 1 and accused 2, are accused of using pop-up advertisements to advertise Junglee Rummy. According to the authorities, Vijay Devarakonda is suspected of using pop-up advertisements to promote A23 Rummy, Manchu Lakshmi Yolo247, Praneetha Fairplay Live, and Nidhi Agarwal Jeet Win."This is just the beginning of that investigation," Commissioner of Police Avinash Mohanty told IndianExpress.com. We'll look at what these applications are, who uses them, where they come from, and other details. We shall proceed based on the case's merits and the available facts.
More BIS Raids At Amazon, Flipkart Warehouses
The two e-commerce behemoths' warehouses in two districts of Tamil Nadu have now become the target of yet another round of raids by the Bureau of Indian Standards (BIS). BIS seized hundreds of items from Flipkart's warehouse in Tamil Nadu's Thiruvallur district, while also seizing goods valued at INR 36 lakh from Amazon's warehouse in Tiruvallur district. During operations in places including Lucknow, Gurugram, and Delhi earlier this month, the bureau confiscated "thousands of products" from Amazon and Flipkart warehouses.The Bureau of Indian Standards (BIS) has now carried out a second round of raids at the warehouses of the two e-commerce behemoths in two districts of Tamil Nadu, following days of conducting search and seizure operations at locations connected to Amazon and Flipkart.
In Abu Dhabi's IFC, Shikhar Dhawan's venture capital firm will establish a $75 million fund.
SUMMARY: Yashaa Global Capital will fund sports technology firms in their early to growth stages that make use of data analytics, technology, and breakthroughs in fan interaction. The company is getting ready to launch its first capital call and intends to raise $75 million for its first fund. Indian startups will receive 30% of the investments. Over the next 45 to 60 days, Yashaa Global Capital will start investing $1 million to $5 million in businesses, with a particular emphasis on Asia. The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) has granted the Financial Services Permission (FSP) to Yashaa Global Capital, a sports-focused venture capital fund that cricket player Shikhar Dhawan cofounded.The Financial Services Regulatory Authority (FSRA) of ADGM, Abu Dhabi's premier international financial hub, has granted the Financial Services Permission (FSP) to Yashaa Global Capital, a sports-focused venture capital fund. With this important milestone, the fund is formally established in ADGM, establishing Yashaa Global Capital as a driving force behind international investments in the quickly changing sports industry. Under the direction of General Partners Shikhar Dhawan, Mohammed Sirajuddin, Arif Padaria, and Dr. Victor Tay, the fund is a one-of-a-kind endeavor that blends a seasoned investing team with top athletes.Through development possibilities, strategic collaborations, and mentorship, this partnership aims to offer portfolio firms unmatched value by utilizing their vast networks and expertise in the sports ecosystem. The fund, which was formerly known as Da One worldwide Ventures, changed its name to better represent its worldwide goals and increased emphasis on wealth creation and innovation. With a $75 million corpus (including a $25 million greenshoe option), Yashaa Global Capital, with its headquarters located in Abu Dhabi, plans to invest globally in the following sectors: SportsTech, Fitness & Wellness, Esports & Gaming, MediaTech, and Leagues & Teams.
Exclusive: Yatish Talvadia, a former co-founder of Milkbasket, Introduces Anmasa, a D2C grocery brand
With over 80 SKUs in categories like whole wheat atta, wood-pressed oil, spices, and dry fruits, Anmasa began operations in 2024. The company sells cold-pressed atta, and clients may customize their whole wheat atta by selecting how much of each grain to use. The firm is currently only operating in Gurugram using an omnichannel approach, but it is gathering $1 million in pre-seed capital to expand into the Delhi NCR area. Yatish Talvadia, the former CEO and cofounder of Milkbasket, has started a new business called Anmasa, a direct-to-consumer food brand.Yatish Talvadia, the former CEO and cofounder of Milkbasket, has started a new business called Anmasa, a direct-to-consumer food brand. Together with Shailendra Upadhyay, the former creator of the grocery delivery service Veggie India, which Milkbasket purchased in 2019, Talvadia cofounded the firm.Forty-four minutes ago
Shares of Mobikwik and Ola Electric plummet amid the stock market's decline.
Early Monday trading saw a 15% decline in One MobiKwik Systems' shares, the parent company of digital payments service MobiKwik, which fell to a new 52-week low of Rs 231.05. On Monday, the BSE saw a record low of Rs 46.94 for Ola Electric Mobility, a 6.69% decline.Four hours priorIn the midst of high volumes in an otherwise stable market, shares of One Mobikwik Systems (Mobikwik), Inventurus Knowledge Solutions (IKS), Ola Electric Mobility (Ola), Hexaware Technologies, and Awfis Space Solutions plummeted up to 15% on the BSE during intraday trading on Monday. In intraday trading today, nine stocks on the BSE IPO index, including IKS, Mobikwik, Ola, and Hexaware Technologies, each reached a new low. Ceigall India, Emcure Pharmaceuticals, Gopal Snacks, Saraswati Saree Depot, Quality Power Electrical Equipments (QPower), and Western Carriers (India) are on the list.The BSE IPO index was down 0.6% at 12,921.79 at 10:01 AM, while the BSE Sensex was up 0.63 percent. Since hitting its 52-week high of 17,281 on September 29, 2024, the IPO index has corrected by 25%. The BSE IPO index has suffered a 22% decline, underperforming the market thus far in 2025. By contrast, the BSE Sensex experienced a 5.4% decline within the same time frame.
On March 19, FAST42 — Inc42 is scheduled to release the list of India's fastest-growing direct-to-consumer brands.
OVERVIEW March 19 will see the release of the fourth edition of Inc42's eagerly awaited FAST42 list, which highlights the D2C brands in India with the quickest rates of growth. The 2025 edition of FAST42 will honor the most creative direct-to-consumer firms that have shown remarkable expansion. More than 250 applications were received for this year's event, representing companies that together brought in $400 million, raised more than $200 million, and produced more than 14,000 employment across the country. The direct-to-consumer (D2C) revolution in India is about to enter a new phase, and FAST42 2025 will highlight the companies driving this change. Inc42's FAST42 Ranking, now in its fourth edition, will be revealed on March 19 at a special event in Gurugram that brings together the brightest brains in the direct-to-consumer market. FAST42 is a comprehensive benchmark that honors creativity, resiliency, and high-impact growth, not merely a ranking.Based on revenue performance, the list identifies the 42 D2C brands with the quickest rate of growth, emphasizing those that have effectively scaled their operations, adjusted to changing consumer expectations, and overcome market obstacles. At the inaugural event, more than 100 D2C founders, investors, and ecosystem enablers will come together to celebrate these firms' success, industry insights, strategic networking, and high-value partnerships.
We are grateful to the sponsors who have made Griffin Retreat 2025 possible.
SUMMARY Inc42 hosted the first Griffin Retreat, an exclusive gathering of 75 unicorn and soonicorn founders at The Oberoi Amarvilas, Agra, on February 22-24 The retreat featured discussions on topics such as IPOs, investor relationships, and leadership, besides closed-door sessions for sharing of experiences The event was designed to inspire and energise India's startup leaders, featuring curated experiences and was supported by partners like IndiQube, Akamai, Nitro, Playbook, Svaara and BMWWhat happens when the brightest minds in India’s startup ecosystem come together? Innovation accelerates, bold ideas take flight, and the foundation for long-term impact is laid. That’s exactly what unfolded at the first-ever Griffin Retreat, hosted by Inc42 at The Oberoi Amarvilas, Agra, from February 22 to 24, 2025. Against the breathtaking backdrop of the Taj Mahal, over 75 visionary founders — the driving forces behind $200 Bn worth of unicorns and soonicorns — gathered to discuss, collaborate, and shape the next phase of India’s startup revolution. But Griffin Retreat was about more than just conversations — it was about charting a course for India’s $1 Tn digital economy. By 2030, India is poised to be home to 200,000 startups, 350+ unicorns, and 250+ publicly listed companies, contributing nearly 10% of India’s projected $10 Tn market cap. Achieving this ambitious vision will require scaling startups into sustainable public market leaders, strengthening capital markets, and ensuring long-term value creation. Griffin Retreat served as the breeding ground for these ideas, offering founders a space to step away from daily decision-making and engage in high-value discussions on IPOs, scaling strategies, and investment landscapes.
Shares of Fino Payments Bank Increase 8% During Broader Market Gains
SUMMARY As of 2:01 PM, Fino Payments' stock had lost some of its gains but was still trading nearly 3% higher at INR 225.20 per share. At present, the market capitalization of the company is INR 1,888.96 Cr ($216.6 Mn). As of 12:48 PM, the Indian market indices are on a winning streak for the day, with the BSE Sensex up 0.18% at 74,468.63 and the Nifty 50 up 0.13% at 22,582.40.Fino Payments Bank's stock shot up over 8% to INR 236.20 per share during Monday's (March 10) intraday trading session on the BSE. But as of 2:01 PM, the stock had lost part of its gains and was trading over 3% higher at INR 225.20 per share. As of right now, the company's market capitalization was INR 1,888.96 Cr, or roughly $216 million. The stock's surge coincided with an increase in other markets. At 12:48 PM, the Nifty 50 was up 0.13% at 22,582.40 and the BSE Sensex was up 0.18% at 74,468.63. It is important to remember that last week saw the biggest weekly increases in 2025 for Indian benchmark indices. Accordingly, most modern tech equities saw a positive finish to the previous week. Twenty-four of the thirty-two new-age tech stocks covered by Inc42 ended the week up between 0.30% and slightly less than 13%. Fino Payments Bank, on the other hand, has experienced volatility and has closed five of the previous ten trading sessions in the green.Under its employee stock option plan (ESOP), the company distributed 4,100 equity shares earlier this month. As of March 4, these shares were valued at INR 8.25 lakh.
JioHotstar Gives Startups the Red Carpet As It Gets Ready for the 2025 Indian Premier League
The OTT streaming behemoth JioHotstar is making every effort to get startups and small and medium-sized businesses (SMEs) to advertise during the prestigious cricket event by providing tailored advertisements at "affordable" rates ahead of the Indian Premier League (IPL) 2025, which begins on March 22.According to a brochure that Inc42 reviewed and that the OTT platform delivered to advertising and marketing agencies last month, "Now you can afford to advertise your business on the TATA IPL."JioHotstar has offered customized advertising package plans ranging from INR 15 Lakh to INR 1.5 Cr in its brochure. According to the corporation, these will help businesses draw in more clients, increase their visibility, and establish their reputation in the community. This comes shortly after JioStar declared that JioHotstar would be created by combining its OTT services JioCinema and Disney+ Hotstar. The company's ad plan is based on three pillars: unparalleled reach and scale, creative targeting, and sophisticated measurement, according to Ishan Chatterjee, chief business officer (CBO) of sports revenue, SMB, and creators segments of the JioStarIPL. It is important to note that Chatterjee was the managing director of YouTube India for two years before to joining the platform in September."Our main goal is to make the IPL as accessible as possible to a wide range of advertisers, including small and medium-sized enterprises and major brands." Because there is no set minimum ticket size for advertising, we have opened up the IPL to businesses from a wide range of markets. With choices based on an advertiser's objectives, reach, ad assets, and targeting capabilities, we are providing flexibility," the CBO continued. The OTT behemoth is providing five ad packages for the forthcoming tournament: INR 15 Lakh, INR 25 Lakh, INR 50 Lakh, INR 90 Lakh, and INR 1.5 Cr, according to the brochure that Inc42 was able to view. GST is not included in these fees.
Gyaan AI Rebrands to MaxIQ and Bags $7.8 Million
In a venture fundraising round led by Dell Technologies Capital and including Intel Capital, the agency AI firm Gyaan AI rebranded itself as MaxIQ and raised $7.8 million, or over INR Cr. The new funding will be used by the Pune-based business to grow its leadership team, increase product innovation, and scale operations. MaxIQ, which was founded in 2022, uses AI to help B2B SaaS companies simplify their workflow, improve customer retention, and more precisely forecast revenue growth.The agentic AI startup Gyaan AI has changed its name to MaxIQ and raised $7.8 million, or roughly INR 68 crore, in a seed fundraising round that was led by Dell Technologies Capital and included Intel Capital. According to a statement, the Pune-based business plans to use the additional funding to grow its leadership team, increase product innovation, and scale operations.MaxIQ is an AI-based sales enablement tool that was founded in 2022 by Sonny Aulakh. It assists B2B SaaS businesses in controlling their revenue throughout the whole customer lifecycle. The startup is launching a first-of-its-kind AI-powered customer journey management software that integrates client acquisition and post-sales operations to assist B2B SaaS companies increase revenue. Rob Sexton has been named chief revenue officer and Matt Hickey as chief executive officer of MaxIQ. Having worked with companies like Palo Alto Networks, EMC, and Securiti.ai, the pair provides a plethora of experience. The startup claimed that as former C-suite executives, they have experience with a number of disruptive technologies, including Data Domain, XtremIO, and CloudGenix."Today's tools cause misalignment, delays, and lost revenue opportunities by creating a crucial gap between sales and customer success. In order to help revenue teams work together and provide customers with faster value, MaxIQ unifies workflows and provides AI-powered insights, according to Hickey. Aulakh, the company's founder, will continue to oversee the product innovation division and grow MaxIQ's market share in the interim. In addition to growth-stage startups like IronPort, XtremIO, and Zscaler, he has over 20 years of experience working with tech behemoths like Dell, EMC, Pure Storage, and Cisco.
For INR 105 Cr, Jio Financial Services will purchase SBI's stake in Jio Payments Bank.
Jio Financial Services (JFS), a fintech startup, is purchasing all of State Bank of India's (SBI) stock in Jio Payments Bank, a subsidiary. For INR 104.54 Cr, JFS, which presently holds 82.17% of Jio Payments Bank Ltd.'s (JPBL) paid-up equity share capital, will buy SBI's portion. JFS would purchase 7.91 lakh equity shares of the bank for INR 13.22 each as part of the transaction. “The board of directors of the company, at its meeting held today, have approved acquisition of 7.91 Lakh equity shares of JPBL from SBI for an aggregate consideration of INR 104.54 Cr. Post this acquisition, JPBL will become a wholly owned subsidiary of the company,” JFS said in an exchange filing.As on November 11, 2024, JPBL's net worth was INR 104.26 Cr, according to SBI's exchange filing. The acquisition will be subject to regulatory approval from the Reserve Bank of India. After the RBI gives its clearance, JFS anticipates that the transaction will be finished in 45 days.
