Top Trending StartUps News & Highlights
Medibuddy reports FY25 revenue of Rs 725 Cr, reducing losses by 37%.
MediBuddy, a digital healthcare platform, reported a little increase in its operational scale in FY25 after growing by more than two times in the fiscal year that ended in March 2024. Nonetheless, the business was able to reduce its losses by 37% over that time. According to MediBuddy's annual financial records submitted to the Registrar of Companies (RoC), the company's operating revenue increased 12.3% year over year to Rs 724.6 crore in FY25 from Rs 645.4 crore in FY24.MediBuddy is a digital healthcare business that offers insurance services, lab testing, procedures, online and offline medical consultations, and medication delivery. Together, these services' revenue of Rs 722 crore continued to be the company's main source of income, with additional operating sources contributing Rs 2.5 crore. The company's total income in FY25 was Rs 743 crore after earning Rs 18.42 crore from non-operating sources, such as interest on current assets and fixed deposits, written-off liabilities, and other miscellaneous income.The cost of materials, which was Rs 333 crore in the previous fiscal year, accounted for the highest portion of total expenses at 38%. Employee benefits costs came next, rising slightly by 8% to Rs 176.8 crore, which included Rs 6 crore in ESOP costs. During the year, sales payout expenses, which include commissions paid to selling agents, decreased by 7% to Rs 155.47 crore. Additionally, the corporation spent Rs 32.5 crore on information technology and Rs 42.5 crore on safety and security. In FY25, additional overheads totalling Rs 138.7 crore included advertising, legal and professional fees, depreciation and amortisation, and financing charges.In the previous fiscal year, the Bengaluru-based company's total expenses stayed constant at Rs 879 crore. The company's losses were reduced by 37% to Rs 137 crore from Rs 215.7 crore in FY24 thanks to controlled spending and a 12% increase in sales.
Published 23 Dec 2025 11:33 PM
Urban Company Receives Penalty Notice and INR 56 Cr GST Demand
GST regulators believed that the startup's services, such painting and appliance repair, were within Section 9(5) of the CGST Act and would need to be taxed appropriately. Urban Company, which intends to challenge the ruling, further asserted that the demand notice will not affect the business's operations or finances. In addition, the GST authorities of Tamil Nadu, Maharashtra, and Haryana have sent the corporation at least three further demand notifications totalling INR 51.3 Cr.Unicorn Urban Company's hyperlocal servicesMaharashtra goods and service tax (GST) authorities have sent Urban Company Datalabs_in-article-icon a tax demand and penalty notice amounting INR 56.4 Cr.Unicorn hyperlocal services Maharashtra GST authorities have sent Urban Company a ₹56.4 crore tax demand and penalty notice for the April 2021–March 2025 period. The notice relates to alleged non-payment of GST on reimbursements to service providers, particularly over services like painting and appliance repair, and contains a primary tax of ₹51.3 crore and a penalty of ₹5.13 crore. Urban Company intends to file an appeal, claiming that the demand won't affect its business operations and that it has a compelling argument. This comes after several tax complaints from several states totalling ₹51.3 crore.
Published 21 Dec 2025 10:23 PM
The founder of Organic Harvest introduces the multi-brand venture RASA Group.
Former D2C brand Organic HarvestOrganic Harvest Datalabs_in-article-icon founder Rahul Agarwal has introduced his new multi-brand company, RASA Group. At the moment, RASA Group runs six verticals:Avani Infratech is a high-end, sustainable real estate and commercial infrastructure developer in Goa and Delhi-NCR. Agarwal told Inc42 that it began approximately four and a half years ago and is currently operating at INR 100 Cr ARR. Sarvagun: It specialises in providing ayurvedic therapies that are supported by evidence. RASA Group operates a boutique hospital in Vasant Kunj under this vertical, and it intends to grow throughout Delhi-NCR and beyond. AdventX is a Jim Corbett adventure vertical that now provides mild adventure activities for all ages, including paragliding and hot air ballooning. In Mahabaleshwar, a second site is under development. Friday Night Cars: It imports luxury American vehicles, changes their left-hand drive to right-hand drive, and then sells them to Indian HNIs.Jee Bhar Ke is a food and beverage vertical with four locations, rapid commerce, and a central kitchen. NexGen Drycleaners: Using a hub-and-spoke architecture, it seeks to organise the historically unstructured dry cleaning industry so that clients can track clothing and manage orders via the app for a more efficient experience.Each of these verticals was added at a different time. Sarvagun is the newest vertical introduced by the RASA Group, whereas Avani Infratech is the oldest. "I've been working on this informally for the past four years, and each brand began at a different moment. However, all of the brands were recently consolidated under one roof, according to Agarwal. Avani Infratech, Jee Bhar Ke, and NexGen Drycleaners are currently the main emphasis since they can be quickly scaled up, Agarwal said, adding that all the verticals are commercially functioning.
Published 04 Dec 2025 05:53 PM
![[Update] Aequs IPO: Issue Subscribed 3.4X On Day 1](https://watstrending.com/images/post_image/693058a82ccf4.webp)
[Update] Aequs IPO: Issue Subscribed 3.4X On Day 1
Aequs’ IPO opened to robust demand on Day 1 with the issue getting oversubscribed 3.4X. Investors placed bids for 14.4 Cr shares against the 4.2 Cr shares available. The strong subscription came from retail investors, who oversubscribed their allotment 11.46X. These investors submitted bids for 8.81 Cr shares against 76.91 shares reserved for them. The non institutional investor (NII) part was oversubscribed 3.4X, with these investors submitting bids for 3.92 Cr shares against 1.15 Cr shares on offer. Within this, investors with a bidding sum of over INR 10 Lakh applied for 2.2 Cr shares, while those bidding for shares between INR 2 Lakh to INR 10 Lakh applied for 1.7 Cr shares.Meanwhile, the qualified institutional buyers (QIBs) were also active on day one, subscribing their quota by 66%. In contrast to the 2.26 Cr shares set aside for them, these investors bargained for 1.5 Cr shares. Foreign institutional investors bid for 1.48 lakh shares under the QIB segment. The employee quota was exceeded 6.7X, garnering bids for 12.57 shares against 1.87 Cr shares authorised for them.Contract manufacturing company AequsAequs Datalabs_in-article-icon initial public offerings (IPO) launched on a strong note today, getting oversubscribed within hours of opening. As of 13:15 IST, the offering received bids for 7.32 Cr shares against the 4.20 Cr shares available for subscription. This corresponds to an oversubscription of 1.72X. Leading the way were retail investors, who bid for 5.54 Cr shares instead of the 76.92 Lakh allotted for them, oversubscribing their quota 7.2X. Additionally, non-institutional investors (NIIs) overloaded their stake by 1.63X, placing bids for 1.88 Cr shares as opposed to the 1.15 Cr shares that were set aside for them. Employees of the company have also placed bids for 8.21 lakh shares, exceeding their stake by 4.42 times.As is customary with IPOs, qualified institutional buyers’ (QIBs) showed the least interest in Aequs’ public float on day one. These investors bid for 1.09 Cr shares against the 2.26 Cr shares on sale, equivalent to a 48% subscription. Aequs’ IPO contains a fresh issue of shares worth up to INR 670 Cr and an offer for sale (OFS) component of up to 2.03 Cr shares. Through OFS, investors like Amicus Capital, the Dempo family trusts, Ravindra Mariwala, and Raman Subramanian will sell their shares. Yesterday, December 2, the contract manufacturing company raised INR 413.9 Cr from anchor investors. As many as 33 investors subscribed to 3.3 Cr equity shares, of which around 57% shares were lapped by domestic mutual funds.
Published 03 Dec 2025 09:06 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.
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.
Ankur Warikoo will motivate business owners at the 2025 Startup Hub Expo.
India's biggest startup and technology exhibition, Startup Hub exhibition 2025, will be held in Bharat Mandapam, Pragati Maidan, New Delhi, from March 19–21, 2025. Innovators, business executives, and investors will come together at this exclusive event to create lasting partnerships and propel the startup ecosystem forward.The keynote address by Ankur Warikoo, a well-known speaker, bestselling author, and entrepreneur, will be one of the expo's main attractions. Warikoo's "Mastering the Growth Mindset" workshop will offer valuable insights on personal development, astute financial management, and business success. Participants can anticipate: • Develop the Growth Mindset: Discover how to think, behave, and develop like a prosperous business owner. • Practical Instructions: Gain insight from Ankur's own experiences with setbacks, dangers, and innovations. • Money, Careers & Startups: Learn practical strategies for growing companies and making wise financial decisions. • Live Q&A: Ask the icon himself your most pressing questions and receive knowledgeable guidance!India's Emerging Startup Scene With more than 1.59 lakh (159,000) accredited businesses as of January 2025, India has cemented its status as the world's third-largest startup ecosystem, according to the Department for Promotion of Industry and Internal Trade (DPIIT). The nation is a worldwide innovation powerhouse, with a startup growth rate of 12–15% each year, propelled by innovations in Fintech, AI, IoT, and Smart Cities.
How corporations and startups may work together most effectively on airport innovation
While startups provide the newest ideas to large corporations, corporations might offer startups some of their first major contracts. Startups are able to think creatively and with agility that many corporates can only imagine. Conversely, corporations possess the size and influence that startups crave.Startups are able to think creatively and with agility that many corporates can only imagine. Conversely, corporations possess the size and influence that startups crave. This is why working together has so many advantages for both parties: startups give these large corporations the newest technology, and corporations can give startups some of their first major contracts. We discussed what it takes to establish the ideal partnership between corporations, investors, and entrepreneurs with a panel of influential representatives from a startup and an international airport operator at the Airport Innovation Days in Paris. The people who spoke to us were:Groupe ADP, one of the largest airport operators globally, has Maylis de la Loge as its investment director. Groupe ADP's innovation project manager, Louis Gauthier Cofounder and CEO of WeMaintain, an IoT-enabled maintenance management firm, is Jade Francine.
At the 2025 Jaipur Literature Festival, Rajasthan's Startup Revolution Takes Center Stage
SUMMARY: As part of the Rajasthan government's iStart initiative, around 130 companies will be exhibiting their products at the Jaipur Literature Festival 2025. At the JLF, startups like the edtech portal We Are One and the foodtech platform MyEats have gained attention. The iStart program, which was started in 2017, offers entrepreneurs full support, including mentorship, incubation, and grants of up to INR 2 Cr.Known by many as the largest literary spectacle in the world, the 17th edition of the annual five-day Jaipur Literature Festival (JLF) began on January 30 in the capital of Rajasthan. Nearly 2,000 speakers and more than a million guests are anticipated for the JLF 2025, which will take place at Hotel Clarks Amer from January 30 to February 3. The JLF has evolved into a hive of ideas, cultures, stimulating debates, and—above all—innovations over the years. The flagship project of the Rajasthani government, iStart, contributes to the innovative aspect of the JLF. The JIF and iStart have been working together for five years in a row to give the state's expanding startup community a stage on which to display its accomplishments. The Department of IT and Communication of the state government launched the iStart project to encourage entrepreneurship and innovation in the state. This year, 130 businesses sponsored by iStart are exhibiting their products at the JLF. These firms range from service-based to AR/VR to direct-to-consumer. They will have the chance to network with participants, get important feedback, and increase their visibility over the five-day festival. Additionally, startups are not required to pay the JLF's exhibition spot reservation charge.
FY24 Revenue for Upstox Increases 25% Year Over Year to INR 1,051 Cr
OVERVIEW According to Upstox, its "net profit" increased 8X year over year to INR 190 Cr. But the figure did not include ESOP expenses. However, its income increased from INR 1,051 Cr in the previous fiscal year to INR 1,311 Cr in the fiscal year 2023–24 (FY24), a 25% increase. According to Upstox, its site has 1.7 Cr users, with over 85% of its clients hailing from Tier II and III cities.Upstox Datalabs_in-article-icon, a broking platform, reported that its revenue increased by 25% to INR 1,311 Cr in the fiscal year 2023–24 (FY24) from INR 1,051 Cr in the prior fiscal year. Upstox said in a statement that its "net profit" increased 8X year-on-year (YoY) to INR 190 Cr as a result of the rise in its top line. ESOP expenditures were not included in the figure, though. With this, the fintech startup asserted that it had reported profitability for a second year in a row. About 85% of Upstox's 1.7 Cr users are from Tier II and III cities, according to the company's statements.Notably, the business generated a profit in FY23, reporting a combined profit of over INR 25 Cr. "We are creating a successful, customer-focused, innovation-driven business that raises the bar for security, speed, and ease of use. Our objective is to establish ourselves as India's most reliable financial partner, facilitating the easy development of wealth for all Indians. stated Upstox cofounder and CEO Ravi Kumar.
The EU works to prevent Chinese takeovers of deeptech businesses.
The European Commission says it would keep new rules on European venture capitalists mild, but it wants to make it more difficult for investors from other nations, such as China, to make large investments in EU businesses creating crucial technology.In the midst of growing US-China competition, the EU executive on Wednesday unveiled a long-awaited set of steps to safeguard its deeptech firms and stop intellectual property from leaking to adversary nations.It suggested amending its foreign direct investment screening law to mandate that all 27 EU nations keep an eye on and possibly prevent foreign takeovers of tech companies in the four sectors the EU deems most sensitive: artificial intelligence, advanced semiconductors, quantum, and biotechnology. Margrethe Vestager, the vice president for digital and competition at the Commission, told a press conference that the measures, which are now being debated with the member states, will also target takeovers from companies that are based in the EU "but controlled from the outside."This implies that large investments from Chinese companies or EU-based companies with LPs in other nations are more likely to be rejected for startups. According to Vestager, "Europe cannot simply be the playground for bigger players in this competition; we need to be able to play ourselves." The rivalry for the technologies we need the most is severe worldwide.
Q3 Profit at MakeMyTrip Soars 12% Year Over Year to $27 Million
OVERVIEW In Q3 of FY25, MakeMyTrip's revenue increased 24.8% to $267.4 million from $214.2 million in the same quarter the previous year. The online travel aggregator made the most money from its hotels and packages division, bringing in $121.9 million. High travel demand in India during the quarter was cited by MakeMyTrip as the reason for the strong growth in its top line.MakeMyTrip Datalabs_in-article-icon (MMT), an online travel aggregator listed on the Nasdaq, recorded a profit of $27.1 million for the quarter that ended December 31, 2024 (Q3 FY25), an increase of 11.8% over $24.2 million for the same quarter the year before.From $214.2 million in the same quarter last year to $267.4 million this quarter, the company's revenue increased 24.8%. The hotels and packages division of MMT, which generated $121.9 million in Q3 FY25, was the main contributor to the company's top line. This represented a 24.9% YoY increase. However, the company's bus ticketing division saw the biggest boost in income. In Q3 of FY25, the segment's revenue soared 31.3% year over year to $35 million. In the meantime, revenue from the airline ticketing industry increased by 20% year over year to $93.8 million. MakeMyTrip credited the strong increase in its top line to the nation's strong travel demand throughout the quarter. It stated that the robust demand for both domestic and international outbound travel in India for the quarter ending December 31, 2024, as opposed to the quarter ending December 31, 2023, was the main cause of the revenue gain.
Paytm se expande a Saudi Arabia, UAE y Singapore; nombra a Bimal Julka, ex funcionario del gobierno, a la gerencia.
Conforme a una declaración regulatoria, la compañía tiene la intención de invertir hasta Rs 20 crore en cada mercado para introducir sus productos de merchant payments y servicios financieros. Paytm es una de varias fintech empresas de India que están expandiéndose hacia el Medio Oriente y Southeast Asia. Examinará organic expansions, alianzas, inversiones y licencia local en estos países.One 97 Communications, a subsidiary of Paytm, has announced planes to extend sus operaciones to Singapore, UAE and Saudi Arabia. Conforme a una presentación regulatoria, la empresa tiene la intención de invertir hasta 20 crore rupees (US$2.31 million) en cada mercado para implementar sus productos de merchant payments y servicios financieros.Conforme a una presentación regulatoria, la empresa tiene la intención de invertir hasta 20 crore rupees (US$2.31 million) en cada mercado para implementar sus productos de merchant payments y servicios financieros. La estrategia de Paytm incluye fomentar el crecimiento orgánico, establecer alianzas y conseguir licencia local en estos países. Además, Paytm ha designado a Bimal Julka, un ex funcionario del gobierno, como director no ejecutivo independente.
Crypto Theft: WazirX Freezes $3 Million in Stolen Assets
As part of its ongoing recovery efforts, WazirX has frozen $3 million worth of stolen assets. This comes almost six months after it was hit by a $235 million hack. Cofounder Nischal Shetty said the company remains “fully committed to recovering stolen funds” and maximising recoveries under the Scheme of Arrangement WazirX’s parent Zettai is actively working with law enforcement agencies to trace and retrieve the stolen assetsThe company said in a statement, "WazirX has been able to freeze the first set of assets that were stolen during the cyberattack (the "Stolen Assets"). These assets are worth about $3M USDT [Tether]."Zettai, the parent company of WazirX, stated that while the platform undergoes reorganization procedures, it is actively collaborating with law enforcement, forensic specialists, investigative authorities, and legal professionals to track down and recover the stolen assets."This is only the start. Nischal Shetty, a cofounder of WazirX, stated, "We are totally dedicated to recovering the stolen funds … [and] maximising recoveries under a scheme."
After JM Financial Starts Coverage With "Buy," Ixigo Shares Rise 3%
SUMMARY: During today's (January 14) intraday trading on the BSE, shares of travel tech giant Ixigo surged by almost 3% to INR 146.90 per share. Following JM Financial's 'buy' rating and initial coverage of the stock, which stated that Ixigo was the new dark horse in the online travel agency (OTA) market, the stock experienced a surge. The firm set a target price of INR 180 for it, indicating a 26% potential increase from the stock's last closing.During intraday trading on the BSE today (January 14), shares of IxigoIxigo Datalabs_in-article-icon surged by almost 3% to INR 146.90 each after brokerage JM Financial began covering the stock with a "buy" rating, stating that the company is the new dark horse in the online travel agency (OTA) market.Ixigo's target price of INR 180 was set by the brokerage, indicating a 26% potential upside from the stock's previous closing of INR 142.90.Ixigo outperformed its competitors with a GTV growth of 34% year over year in the first half of the fiscal year 2024–25 (H1 FY25). In contrast, EaseMyTrip and Yatra recorded a 1% and 9% drop in GTV over the same time, respectively, while MakeMyTrip reported a 23% YoY growth. With 94% of its booked transactions having origins or destinations in non-tier I cities, the brokerage added that Ixigo, which employs a multi-app, multi-brand strategy, is well-positioned to benefit from the expansion of the travel industry in tier II+ cities."Ixigo concentrates on distinction based on improved client experience, in contrast to the majority of OTAs who prioritize greater pricing or discounts. The company accomplishes this by offering value-added services and unconventional utility products and services that allow customers to change or cancel their reservations without worrying about incurring cancellation fees (for a tiny portion of the ticket price), according to JM Financial. Over FY24–27, the brokerage anticipates that the online travel platform will generate revenue growth of 23% and GTV growth of 26%. Furthermore, according to JM Financial, the travel tech major is anticipated to increase its adjusted profit after tax (PAT) and EBITDA by 33% and 45%, respectively, throughout the time.It should be mentioned that Le Travenues Technology, the parent company of ixigo, made its market debut last year. The shares of the firm were listed on the BSE at INR 135 each, which was 45% more than the price at which the IPO was issued. Although the stock has lost more than 12% in the last five trading sessions, it has so far seen an increase of more than 5% since going public.
CoinSwitch Starts INR 600 Cr WazirX Hack Victim Recovery Program
SUMMARY In order to assist WazirX users affected by the significant $230 million (INR 1,900 cr) cyberattack that occurred last year, CoinSwitch initiated an INR 600 Cr recovery scheme. Through incentives, money deposits, and revenue redistribution, the company hopes to assist impacted users in recovering their losses through the "CoinSwitch Cares" project. In essence, the program is an attempt by the cryptocurrency platform to attract WazirX users.To help users of WazirX, a compromised cryptocurrency exchange that suffered a huge $230 million (INR 1,900 crore) cyberattack last year, cryptocurrency unicorn CoinSwitch has started an INR 600 cr recovery scheme. The company hopes to assist impacted individuals in compensating for their losses, depositing money to benefit from the current cryptocurrency market boom, and receiving incentives through the program called "CoinSwitch Cares."Cybercriminals from North Korea are said to have breached WazirX in July 2024, removing over $234 million in cryptocurrency assets from one of its wallets. Over 4 million Indian customers suffered significant losses as a result of the cyberattack, which also damaged confidence in the country's cryptocurrency market.In essence, the project is an attempt by the cryptocurrency platform to acquire WazirX users. Ashish Singhal, cofounder and CEO of CoinSwitch, stated during a virtual "Ask Me Anything" session that the company has launched the CoinSwitch Shares program in an effort to win back the trust of the Indian cryptocurrency community.
Ver.iD, a digital identification startup, raises €2 million and plans to raise €4 million to support its growth in Europe.
In order to grow ahead of the recent eIDAS 2.0 rule, Amsterdam-based Ver.iD, a software as a service platform for digital identity verification, has announced that it has raised €2 million in angel capital.The platform is getting ready for a fresh €4 million investment round to boost its European expansion in the wake of this recent funding round."Ver.iD allows businesses to obtain only the necessary consumer data at a time when news stories are dominated by AI-driven fraud and data breaches. Ver.iD co-founder Robert van Altena states, "This guarantees privacy while making onboarding and verification processes faster, safer, and more user-friendly."Ver.iD, which was founded in 2022, offers businesses and governments a simple-to-use solution for digital identification verification. Ver.iD is completely compliant with modern security standards, such as ISO27001, NIS2, and DORA, and gives consumers complete control over the information they disclose while guaranteeing a smooth experience for businesses. The new European digital identification regulation, eIDAS 2.0, which goes into effect in 2024, has made it more urgent than ever to have safe and easy-to-use solutions in place. Public and private entities, such as banks, energy suppliers, and insurance companies, will have to include digital ID applications into their operations by 2026.Ver.iD intends to play a significant role in this change by providing a solution that minimizes data breaches, fights fraud, and improves user experience while guaranteeing compliance. Ver.iD has been compared to Adyen, another Dutch company that enables companies to take payments via point-of-sale, mobile, and e-commerce. "Ver.iD offers a similar service for identity apps, just as Adyen helps businesses integrate multiple payment methods and lets customers choose their preferred payment method," claims Ver.iD. While consumers can still choose their favorite identity app, the platform enables businesses to easily incorporate ID wallets and digital identification techniques. Leading organizations already use Ver.iD's platform for both experimental (or "change") and daily (or "run") operations, such as: Nationale Nederlanden and Verbond van Verzekeraars:
