Top Trending StartUps News & Highlights
Peak XV Scores From Porter Exit Nearly 10X Return
According to sources who spoke to Inc42, Peak XV left with a payout of over INR 1,200 Cr on an investment of about INR 116 Cr. Porter became a unicorn a few days ago after raising $200 million in a financing round. Approximately $120 to $150 million of the total funds were raised through secondary share sales, which were mostly carried out by investors such as Peak XV and Kea Capital.Mumbai: According to a person acquainted with the situation, Peak XV Partners made more than ₹1,200 crore after withdrawing its investment in the most recent funding round for logistics startup Porter. In several rounds during the previous ten years, the profit was more than eleven times the return on investments of ₹116 crore. Mumbai: According to a person acquainted with the situation, Peak XV Partners made more than ₹1,200 crore after withdrawing its investment in the most recent funding round for logistics startup Porter. In several rounds during the previous ten years, the profit was more than eleven times the return on investments of ₹116 crore.
Published 16 May 2025 04:47 PM
Groww settles a case with SEBI over security lapses by paying INR 48 lakh.
SUMMARY In its May 14 ruling, SEBI claimed that Groww had broken several securities contract and stock broker regulations, among other rules. Additionally, SEBI stated that the investment tech startup's trading app offered non-securities services like bill payment, loans, and UPI payments, potentially exposing users to personal financial risk. This comes a day after Groww settled a separate dispute with SEBI for INR 34.12 Lakh, alleging that a technical issue on the site prohibited users from placing transactions.Groww Invest Tech paid Rs 47.85 lakh towards the settlement sum on Wednesday, resolving a complaint concerning the purported breach of stock brokers' regulations and other standards. The order followed the broking firm's application to Sebi "without admitting or denying the facts and conclusion of law" through a settlement order. "The adjudication proceedings initiated against the applicant via SCN dated November 25, 2024, are disposed of in view of the acceptance of the settlement terms," stated Amit Kapoor, the adjudicating officer for Sebi. Groww Invest Tech (previously Nextbillion Technology Pvt Ltd) was the subject of a thorough inspection that led to the case.Groww was accused of breaking numerous securities contracts (regulation) requirements, Sebi circulars, and stock broker rules by the Securities and Exchange Board of India (Sebi).
Published 15 May 2025 03:29 PM
After Adani, Zoho Shelves Its $700 Mn Semiconductor Plan
OVERVIEW Zoho has halted its $700 million attempt to enter the silicon industry. According to Sridhar Vembu, the creator of Zoho, the board has chosen to halt chipmaking efforts until a more effective technological solution is found. Last year, the SaaS unicorn requested permission from the Center to establish a chip manufacturing plant and receive incentives under the production-linked incentive system.Tamil Nadu-based software-as-a-service firm Zoho Corporation has postponed its intention to develop a $700-million compound semiconductor fabrication unit, the company’s founder Sridhar Vembu stated.“On our semiconductor fab investment plan, since this business is so capital-intensive, it requires government backing. We wanted to be completely sure of the technology path before we take taxpayer money. On social media platform X (previously Twitter), Vembu stated, "Our board decided to put this idea on hold for the time being, until we find a better tech approach, because we did not have that confidence in the tech."The company applied for government incentives under the India Semiconductor Mission (ISM) in June of last year in order to construct a facility for the manufacture of compound semiconductor chips. For this reason, the SaaS company also established Silectric Semiconductor Manufacturing.Vembu has previously disclosed Zoho's intentions to establish a semiconductor design project in Tenkasi, Tamil Nadu, prior to submitting an application for incentives to construct a chip manufacture plant under ISM. a
Published 01 May 2025 09:19 PM
The Q4 profit of PharmEasy-Owned Thyrocare increases by 25.6% to INR 21.6 Cr.
Thyrocare, a diagnostics platform owned by PharmEasy, saw a 25.6% increase in consolidated net profit from INR 17.2 Cr in the previous quarter to INR 21.6 Cr in the fourth quarter of the fiscal year that ended in March 2025 (Q4 FY25).Thyrocare, a diagnostics platform owned by PharmEasy, saw a 25.6% increase in consolidated net profit from INR 17.2 Cr in the previous quarter to INR 21.6 Cr in the fourth quarter of the fiscal year that ended in March 2025 (Q4 FY25). Profit rose 14% sequentially from INR 18.95 Cr.46 minutes agoAccording to a recent consumer survey conducted by Counterpoint Research in collaboration with OnePlus, young professionals in India are becoming more interested in small smartphones, but they are also becoming frustrated with the market's lack of options. Because of its mobility and ease of use, 74% of poll participants said they prefer compact telephones. However, according to 68% of respondents, there aren't enough high-quality options in this market, particularly when it comes to flagship-level performance.
Published 23 Apr 2025 08:49 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.
"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.
Indian Ambassador: UPI Will Soon Be Fully Rolled Out in Qatar
According to reports, Qatar is about to fully implement India's universal payment interface (UPI), which will streamline financial transactions for many Indians living there and strengthen fintech partnerships between the two nations."UPI will soon be fully implemented in Qatar. Testing has been completed, the integration with Qatar National Bank (QNB) is complete, and the launch has already occurred. "This is a big step toward improving digital payments between our countries," the report cited Vipul, India's ambassador to Qatar.The Gulf States has also pledged to invest $10 billion (INR 87,000 crore) in industries like fintech, space, and more, the Indian ambassador added. Vipul went on to say that $1.5 billion (about INR 13,100 cr) in foreign direct investment from the Gulf nation had already helped India.Nearly eight months have passed since the National Payments Corporation of India's (NPCI) foreign division teamed up with QNB to allow Indian travelers to use UPI payments throughout QNB's merchant network in Qatar.
This week, Indian startups raised $88 million, from Geniemode to Quick Clean.
February remained largely bleak for Indian markets due to geopolitical tensions, unequal consumption, and disinterested foreign institutional investors. Investor opinion toward the Indian startup ecosystem also declined dramatically over the course of the month amid this bear market. Through 16 agreements, companies raised a total of $88.3 million in the last week of February. Compared to the $152.9 million raised through 17 agreements the week before, this represents a nearly 43% drop. E-commerce maintained its position as the sector that investors preferred this week thanks to the largest investment round of the week, Geniemode's $50 million fundraise. In addition to Geniemode, Earthful, a D2C firm, raised $572K over the week. Five firms in the fintech space—Oxyzo, Niyogin, HiWiPay, Dodo Payments, and Hornet—collectively raised $21.5 million. But this week, no investor placed more than one wager. Flourish Ventures, Piper Serica, Unicorn India Ventures, 9Unicorns, and Venture Catalyst are some of the active investors this week. Compared to last week, when firms at this stage funded $15.1 million, seven seed stage startups raised $5.7 million this week, a 62% decrease. We Provide Startup IPO Updates
Highlights from Companies News Today: With our company news coverage, you can stay up to date on the most recent developments in the business world. This area offers a thorough examination of importan
Highlights from Companies News Today: With our company news coverage, you can stay up to date on the most recent developments in the business world. This area offers a thorough examination of important events that have an impact on markets and industries around the world, such as mergers and acquisitions, financial reports, and tactical changes in operations and leadership. Our reports provide an in-depth look at the trends that influence the economy, regardless of whether you're an investor, a business professional, or just curious about the workings of different industries. We provide you the news that counts, from start-ups to well-established behemoths, so you can make wise choices in a business climate that is changing quickly. Following the company's announcement that it will spend USD 200 million (about Rs 1,740 crore) in its subsidiary, Wipro Ventures, to increase funding for startups in the technology innovation field, shares of Wipro will be the subject of attention on Thursday.
