Top Trending StartUps News & Highlights
KiranaPro Purchases Likeo To Support Its Gen Z Fashion App Users' Virtual Trial Room Experience
KiranaPro wants to give its clients an immersive trial room experience by integrating Likeo's products with its online fashion marketplace BLACK. On May 16, 2025, the fast commerce platform debuted its fashion marketplace, which is accessible on the Google Playstore. Saurav Kumar, the creator and CEO of Likeo, will join KiranaPro to spearhead BLACK's advancement in AI and visual computing.KiranaPro is a quick commerce platform.In an all-stock transaction, KiranaPro Datalabs_in-article-icon acquired Likeo, an AI-powered platform that specializes in virtual try-on technology powered by its augmented reality tech stack. The agreed upon price was $1 million (INR 8.55 crore). Through this acquisition, Kerala-based KiranaPro hopes to give its clients an immersive trial room experience by fusing Likeo's products with its online fashion marketplace BLACK. Products from the clothing, jewelry, and eyewear categories will be able to use the function. On May 16, 2025, KiranaPro released its fashion marketplace, which is accessible on the Google Play Store.
Published 31 May 2025 07:45 PM
BlackBuck Reports Q4 Tax Credit Profit of INR 280 Cr
BlackBuck would have reported a profit of roughly INR 35.1 Cr in Q4 FY25 if the tax credit of INR 245 Cr had been excluded. In Q4 of FY25, operating revenue increased by 30.6% to INR 121.8 Cr from INR 93.2 Cr in the same period the previous year. BlackBuck reported a net loss of just INR 8.6 Cr for the entire fiscal year FY25, with the assistance of an INR 244.6 Cr tax credit.BlackBuck BlackBuck Datalabs_in-article-icon, a logistics company, reported a consolidated net profit of INR 280.1 Cr in Q4 FY25, compared to a net loss of INR 90.8 Cr in the same quarter last year. In the prior quarter, the company posted a net loss of INR 48 Cr. However, a tax credit of INR 245 Cr was one of the main drivers of the earnings in Q4. Without it, BlackBuck would have reported a profit for the reviewed quarter at roughly INR 35.1 Cr. In Q4 of FY25, BlackBuck's operating revenue increased by 30.6% to INR 121.8 Cr from INR 93.2 Cr in the same period the previous year. It increased 6.9% sequentially from INR 113.9 Cr.
Published 27 May 2025 08:58 PM
Operations at Zepto Cafe Are Halted in Several Cities
Zepto Cafe, the company's rapid meal delivery division, has temporarily ceased operations in a number of minor cities, primarily in northern India. Over 400 workers have been impacted by the 44 eateries that have suspended operations. By the conclusion of the upcoming quarter, the business now anticipates starting up again in these areas.Platform for rapid trade According to persons familiar with the situation, Zepto has suspended operations of its 10-minute food delivery vertical, Zepto Cafe, in a number of locations, including Delhi, Agra, Chandigarh, Mohali, Amritsar, and Meerut, because of supply chain problems, ETtech reported. This will affect how 44 Zepto Cafe locations operate.Platform for rapid trade Zepto has suspended Zepto Cafe, its 10-minute meal delivery service, in several North Indian towns. The company has temporarily halted the services because of supply chain problems, according to a report by Economic Times. According to the article, 44 Zepto Cafe locations in the area will be impacted by the company's decision. About 700 gig workers have been impacted by the company's decision to stop providing the service. According to the Economic Times, Zepto Cafe's services were suspended in April of this year because the company was unable to meet quality standards due to the spike in demand. Zepto Cafe received greater demand than anticipated, hence the decision was made to halt operations in these cities. Meeting the volumes without sacrificing quality proved challenging, the individual with knowledge of the situation told ET.
Published 23 May 2025 08:14 PM
Exclusive: Avanse Names New Independent Director and Strengthens Board Before IPO
Focused on education loans Rakesh Bhatt, the former COO of Bajaj Finserv, has been named as an independent director of NBFC Avanse Financial Services in advance of the company's INR 3,500 Cr initial public offering (IPO).According to Avanse's regulatory report, "it was proposed to onboard one more independent director in order to further strengthen the board, given the growth trajectory."Avanse has delayed to submit its red herring prospectus (RHP) more than six months after receiving SEBI's approval for its first public offering (IPO). A number of fintech companies are preparing for a public offering in the near future, and the new-age tech IPO season is well underway. Razorpay and PhonePe became public companies in April prior to their listing in India.has named Rakesh Bhatt, a former COO of Bajaj Finserv, as an independent director of the business in advance of its INR 3,500 Cr IPO.
Published 22 May 2025 04:21 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.
Zomatos Latest Feature Now Enables Users To Make Healthier Decisions
SUMMARY: Using this new function, customers can be gently persuaded to select healthier options, preventing them from subsequently regretting their decision. Additionally, the company increased its platform cost to INR 5 per order last month from INR 4 previously. Zomato also revealed its fourth consecutive profitable quarter earlier in May.Zomato, the foodtech behemoth, has launched a new feature that will assist its consumers in choosing healthier options. This comes only a few days after the company extended its priority delivery services to Delhi, Hyderabad, and Pune.By using this new tool, customers can be gently encouraged to choose healthier options when placing their orders, helping them to avoid regretting their decisions later.Deepinder Goyal, the CEO and founder of Zomato, made the news on X."We just released a new function on Zomato – gently assisting our users in making healthier choices,” the post stated. First off, we've started recommending roti in place of naans."We just released a new function on Zomato – gently assisting our users in making healthier choices,” the post stated. First off, we've started recommending roti in place of naans."We have received tremendously favorable feedback for this functionality, and we are seeing a 7% attach rate for these recommendations. We intend to expand this soon to include additional meals and categories. For instance, when you add a dessert to your basket, we may suggest lower-calorie dessert options if you are in the mood for one," it stated.Zomato is also getting ready to add more meals and categories to this functionality. For example, when a user adds dessert to their cart, they may be shown alternatives with fewer calories if they are craving it. In addition, the company increased its platform fee from INR 4 to INR 5 each order last month. Zomato also revealed its fourth consecutive profitable quarter earlier in May. In the quarter that concluded on March 31 of the financial year 2023–24 (FY24), the company's consolidated profit after tax increased by 26.8% to INR 175 Cr from INR 138 Cr in the previous quarter. From INR 3,288 Cr in Q3 FY24 to INR 3,562 Cr during the quarter, operating revenue increased by more than 8%. On a quarterly basis, Zomato observed a decrease in the GOV of their meal delivery service. During the quarter under review, its GOV decreased from INR 8,486 Cr to INR 8,439 Cr. Yet, GOV increased 28% year over year.
Venture Catalysts $200 million fund, 9Unicorns, rebrands itself
New Delhi: Rebranding as 100Unicorns, 9Unicorns, a division of the multi-stage investment platform Venture Catalysts Group, has opened its second accelerator fund, targeting $200 million to invest in 200 national businesses.According to Apoorva Ranjan Sharma, managing director of Venture Catalysts Group and co-founder of 100Unicorns, the company intends to announce its first closure by November with the goal of pooling 30–50% of the total fund size.According to Sharma, 100Unicorns would provide early-stage enterprises with initial investments between $250,000 and $1 million in exchange for a 5–10% share. There may be additional opportunities for investments up to $3 million in subsequent rounds.Increasing the need The establishment of the new fund reflects the increasing need for early-stage capital in India, where investors have continued to support nascent businesses in spite of the financial winter. Tracxn data indicates that pre-seed, seed, and Series A funding saw significant growth in 2022 and 2023.Sharma emphasized that between 2015 and 2022, financing for the Indian startup sector increased fifteen times. "In the next ten years, I firmly believe that India will become the 'Startup Nation,' producing the greatest number of unicorns, entrepreneurs, and jobs created by startups."Startups with a $1 billion or higher valuation are considered unicorns. Based on information provided by the company, the Department for Promotion of Industry and Internal Trade (DPIIT) and Tracxn show that, with over 110,000 new enterprises operating nationwide, India currently has the third-largest startup ecosystem globally. There are 111 unicorns in the nation, and their aggregate worth is $350 billion. About 80–85% of the cash for the second fund would be invested in India; the remaining portion will be financed by partners in the US, West Asia, Southeast Asia, and African markets. According to Sharma, there are over 77,000 startups on the African continent, which is still a profitable region.
Ankush Aggarwal Returns To Ola Cabs Ride-Hailing Business Amid Restructuring
Ankush Aggarwal, brother of Ola Cabs founder Bhavish Aggarwal, has rejoined the ride-hailing company following a period with Ola Electric amid organizational changes at Ola Cabs.Ankush Aggarwal is a member of the "CXO team," as the top executive group is internally called.This action follows the resignation of Hemant Bakshi, the company's CEO, a few months after he joined the startup.Bakshi quit his job a month ago. Even though he left Hindustan Unilever to join Ola Cabs in September 2023, the firm announced his appointment in January of this year.According to ET, Aggarwal will have a variety of duties at Ola Cabs, similar to what he did at the manufacturer of electric vehicles. He is also scheduled to take up the position of CEO of Ola Financial Services.He was Ola Electric's chief business officer.Ola has been contacted by Inc42 to provide feedback on the development. The response will determine how the story is updated. It is important to remember that Ola Cabs and Ola Financial Services are separate entities from Ola Electric Mobility, which was established by Bhavish Aggarwal, and are under the ownership of ANI Technologies.In addition to Ankush Aggarwal, whose loan startup Avail Finance was purchased by ANI Technologies in 2022, other executives on the CXO team include Sidharth Shakdher, chief business officer, and Kartik Gupta, chief financial officer. Gupta and Shakdher have both worked with Ola Cabs for a short time—less than 1.5 years.According to the article, Bhavish Aggarwal is likely to take the lead in the business following these modifications and is reportedly focused on making a profit. The current management at the company will collaborate with Bhavish Aggarwal, who is basically back reviewing the daily statistics of the ride-hailing service, an insider told ET. In India, Ola Cabs, which was established in 2010, is a competitor of Uber and BluSmart. The business has let go of workers in two rounds of layoffs in the previous two years prior to Bakshi's resignation. It let go of 200 workers from Ola Cabs, Ola Electric, and Ola Financial Services in January of last year. From INR 1,522.3 Cr in the prior fiscal year to INR 772.2 Cr in FY23, ANI Technologies' consolidated net loss almost halved. From INR 1,970.4 Cr in FY22 to INR 2,799.3 Cr in FY23, operating revenue increased by 42%. Ola Cabs recently stated that, in contrast to an EBITDA loss of INR 66 Cr in the same period last year, its India mobility division broke even with "segment-adjusted" EBITDA of over INR 250 Cr in FY23. The
Sidhi Dalmia, a former executive at Goldman Sachs, joins VCats Syndicate Fund as a founding partner and co-leader.
Sidhi Dalmia, a senior executive at Goldman Sachs, has joined Mumbai-based Venture Catalysts as a founding partner and co-lead for their recently formed syndicate fund, VC Grid.In addition to Goldman Sachs, Dalmia has several executive roles at The Chesapeake Group, Bennett, Coleman & Co., Sumedha Fiscal Services, and Srei Group.She has worked in a number of major cities, including Mumbai, Hyderabad, Bangalore, Kolkata, and New York.According to the venture capital firm, Dalmia has played a pivotal role in propelling the establishment of VC Grid in recent months and solidifying its value proposition in the investment landscape.According to the company statement, she has coordinated fundraising efforts across a variety of industries, including technology, retail, FMCG, logistics, distressed assets, and infrastructure. She has also negotiated cross-border M&A transactions, facilitated venture capital investments, and given strategic advice to startups."She combines her financial acumen and leadership skills with a wealth of experience and knowledge in venture capital, early-stage investments, and creating sustainable enterprises. As we want to increase the value for family offices, legacy companies, and entrepreneurs, we are excited to collaborate with her," stated Apoorva Ranjan Sharna, managing director and founder of Venture Catalysts++.Family offices, corporate VCs, and U-HNIs make up the VC Grid network, which is dedicated to funding high-alpha projects from seed to Series A, with an investment range of $500K to $1.5M. Apart from providing financial support, the community also hopes to provide entrepreneurs with market access and commercial prospects by utilizing the combined knowledge and assets of its member investors. Venture Catalysts plans to conclude investment for VC Grid later this year with a total corpus of INR 900 Cr (about $110 Mn), according to a report published earlier this month by Inc42. Sources said at the time that the syndicate planned to bring the total number of limited partners to 100 by year's end, with 32 family offices already on board.
Where in the United States can you see the northern lights this weekend?
Here you may find the most recent news updates and breaking stories from India and around the globe.This weekend, a strong geomagnetic storm that reached Earth might provide residents as far south as Alabama and Northern California with a display of the northern lights, according to officials. People in more expansive parts of the map may be able to see the aurora borealis if the weather is right.The storm could produce an amazing light show in the night sky, but it has prompted government forecasters to warn of possible interruptions to satellite operations, the electricity grid, and communications networks."The aurora is really the gift from space weather, if you happen to be in an area where it's dark and cloud free and relatively unpolluted by light," Rob Steenburgh, a space scientist with the National Oceanic and Atmospheric Administration's Space Weather Prediction Center, told reporters on Friday morning.Friday night's map of the northern lights The center's map indicates that Friday night, the aurora could be visible over a large portion of the northern United States. The map's red line indicates the aurora forecast's southern range.For the best chance of seeing the northern lights, locals should evacuate the city, according to the National Weather Service's St. Louis office. On social media, the office posted, "Get away from city lights into a dark, rural surrounding and look north." "Aside from some clouds associated with a passing front, much of the time looks mostly clear."On its website, the forecast center states that one does not have to be right underneath the aurora to see it. Rather, it may be seen from a distance of up to 620 miles.When asked if there was any prospect of a nocturnal spectacle in the San Francisco Bay Area, the weather service office expressed less optimism. The office said, "Probably not, but I'll still look up while walking my dog."
Zeta Introduces Credit As-A-Service Product for Banks Integrated with UPI
Zeta, a unicorn in banking technology, has launched a digital credit-as-a-service solution for banks. The product leverages the network to expedite the issuing of credit in India and is based on NPCI's credit line on UPI scheme.The company expects transaction volumes on this scheme to exceed $1 Tn by 2030 and aims to capture 50% of this market opportunity with its solution, helping banks create and launch credit products quickly."Credit Line on UPI has hit a home run for banks by completely changing the discovery, access, and cost mechanics of retail lending," stated Ramki Gaddipati, CEO APAC & Global CTO, Zeta.According to Gaddipati, the cost of Zeta's new offering would change based on the particular services that each bank needs."We saw UPI volumes put a strain on core banking systems," he continued. We expect comparable Credit Line volumes on UPI in the near future, necessitating a populace-wide banking infrastructure that can handle hundreds of millions of credit accounts.Zeta, which was founded in 2015 by Gaddipati and Bhavin Turakhia, provides financial institutions with an omni-stack platform for managing fraud and risk, processing and issuing debit and credit cards, and lending. Zeta's cloud-native, next-generation core banking and payments platform powers its extensive services and technology stack, which enables banks to manage digital credit operations from originations to collections. This is known as its digital credit-as-a-service offering. Pre-integrated technologies to speed up launch procedures, packaged services to improve operational effectiveness, and a variety of product blueprints, including EMI loans, merchant loans, and agricultural loans, will also be included in the offering. It will also provide regulatory reporting, compliance, and operations capabilities in addition to process consulting support for integrating Credit Line on UPI with current bank systems.In contrast to a loss of INR 20.7 Cr in FY22, the company declared a profit after tax (PAT) of INR 21.94 Cr in the fiscal year 2022–2023 (FY23). The fintech unicorn based in Bengaluru had an increase in income from operations of about 33% to INR 816.20 Cr in FY23, up from INR 615.05 Cr in FY22. Zeta became a unicorn in May 2021 after raising $340 million in total capital with a $250 million funding round headed by Masayoshi Son's SoftBank. Among its supporters are well-known companies like Mastercard, Sodexo, and Softbank Vision Fund.
Talks of SoftBank Increasing Its Investment in Software Portfolio Company Icertis
SoftBank is once again making inroads into the Indian startup scene. The global giant is in early talks to increase its investment in Icertis, a company that now manages its software portfolio.According to ET, Pune-based Icertis is presently seeking to raise $150 million (about INR 1,252 crore) through the sale of secondary shares; as part of this transaction, SoftBank may expand its participation.It is important to note that with this new round of funding, SoftBank is not the only investor looking to extend their position in Icertis. Existing investors in the business are also thinking about increasing their stake. This action is being taken as some of the company's original investors look to leave the 15-year-old business.Valuation concerns play a major role in the talks between SoftBank and Icertis.As part of a bigger fundraising round, SoftBank's Vision Fund is completing preparations to invest in the e-commerce platform Meesho. This comeback comes after SoftBank and Tiger Global abstained from transactions for more than a year.Established in 2009 by Monish Darda and Samir Bodas, Icertis focuses on the corporate IT industry. Businesses all around the world may manage, buy, sell, and corporate enterprise contracts with the aid of its product, Icertis Contract Intelligence (ICI).It was previously reported that SoftBank was getting ready to resume investing in Indian businesses following a roughly 18-month hiatus. The Japanese investment company, which had previously taken a wait-and-watch approach, is now aggressively seeking to support cutting-edge businesses and expand its holdings in the Indian market.SoftBank will keep investing, especially in growth-stage companies, as it often does so with over $100 million each round.As of December 2023, SoftBank India's investment portfolio across Vision Funds I and II had a fair value of around $14 billion, an increase of 9%.
TiE Smashup 2024: Promoting Development and Creativity in the Startup Sector
May 7, Jaipur, Rajasthan, India: The flagship event of TiE Rajasthan, TiE Smashup, is back for its eighth iteration, giving startups a special chance to network with more than 25 institutional investors from across India. Thanks to the success of the previous year's event and the Rajasthan Government's Istart initiative, five entrepreneurs were able to get immediate cash commitments: Indeed, Madam, you succeeded in securing Rs 75L from Warmup Ventures; Boba Bhai received Rs 50L from Warmup Ventures; Ratnada Ventures awarded Strangify USD 60000; and Realtime Angel Fund gave each of Headfox Innovation Pvt Ltd. and Cellverse Pvt. Ltd. Rs 50L."Many start-ups are reaching notable milestones with their innovative ventures, supported by TiE Rajasthan." "Smash Up" has established a national brand presence today and has evolved from a Chapter event to an ecosystem partners event, providing the ideal venue for start-ups to be noticed by global venture capitalists. said TiE Rajasthan President Dr. Sheenu Jhawar.Following the Smash Up event of the previous year, Boba Bhai secured noteworthy seed capital of Rs 12.5 Cr at a valuation of Rs 50 CR. Meanwhile, the triumph of Yes Madam, My Body Affairs, and Hexpression on various seasons of Shark Tank India demonstrated their capabilities. The prestigious 500 Global Alberta Accelerator 2023 Batch-5 in Canada has selected InfraHive (Aivinya). Following their participation in SMASHUP, other startups such as The Loom Art, Doctune, Insurance Padosi, Mobirapid/Headfox, VCheck, Thela Gaadi, OLE ROOMS, Kwikfix, Avitron Aerospace, and Tempvision have also made notable progress in their respective fields. Caldor Health Technologies is one such startup.The outstanding contributions of Puneet Mittal (Chair, Startup Screening), Vikram Ahuja (Chair, On-Spot Funding), Nishant Patni (Convenor), and Sharad Bansal (Co-Convenor) are responsible for TiE SMASHUP's continued success. Registrations are now available for TiE SMASHUP 2024, the eighth edition (September 27–28), which promises to be an even more exhilarating experience after the phenomenal success of previous Smash Ups.
Kareena is pleased to be a national ambassador for UNICEF India.
UNICEF India has named Bollywood star Kareena Kapoor Khan as its national ambassador. Her longstanding affiliation with the organization since 2014, during which she has acted as a Celebrity Advocate, is recognized with this esteemed status.Young Advocates: Supporting a Range of Issues UNICEF India announced the appointment of Kareena along with the introduction of its inaugural class of Youth Advocates, four exceptional persons who will act as peer leaders and advocates for important issues impacting children and youth. The causes that the Youth Advocates are fighting for are: Gauranshi Sharma from Madhya Pradesh, advocating for the right to play and disability inclusion. Uttar Pradesh native Kartik Verma is an advocate for child rights and climate action. Nahid Afrin from Assam, raising awareness about mental health and early childhood development. Vinisha Umashankar from Tamil Nadu, a budding innovator and STEM pioneer.Kareena's dedication to the rights of children Kareena Kapoor Khan's commitment to the rights and wellbeing of children is demonstrated by her affiliation with UNICEF India. She has given her voice to numerous projects as a Celebrity Advocate, bringing attention to topics including child safety, nutrition, and education. As she assumes her new position as National Ambassador, Kareena is well-positioned to further up her efforts and use her powerful platform to make a significant difference in the lives of children in India and around the world.Youth Empowerment and Change-Driven UNICEF India's selection of Youth Advocates is a great step in empowering youth and recognizing their ability to effect positive change. In addition to serving as an inspiration to their peers, these advocates will help shape programs and policies that deal with the urgent issues that young people face. Kareena Kapoor Khan and the Youth Advocates will work diligently to guarantee that every child's rights are upheld and their voices are heard, forming a strong team.Children's Better Future Kareena Kapoor Khan and the Youth Advocates represent a fresh commitment to UNICEF India's great goal, which is to uphold the rights and welfare of children. The group wants to give children a better future where their rights, safety, and growth are respected and valued via their combined efforts. Kareena Kapoor Khan's impact and her passion for children's rights will surely encourage others to join the campaign as she sets off on her new adventure, causing a ripple effect that reverberates throughout the country and beyond.
According to the report, startup funding fell by 17% in FY24.
The research emphasizes that there have been fewer larger transactions—those valued at more than $25 million—which often occur when a business is expanding. This indicates that overall, fewer funds are being invested in startups, particularly in deals of medium to large scale. Investments in late-stage venture capital have also been severely impacted.In comparison to the previous year, startup funding in India decreased by 17% in FY 24.In comparison to the previous year, startup funding in India decreased by 17% in FY 24. The number of deals that investment professionals received per day on average dropped to three in 2024 from six in 2021.The number of deals that investment professionals received per day on average dropped to three in 2024 from six in 2021. A Wealth 360 One report titled "India Invests" states that there has been a 60% decline in private equity in the USD 100–250 million bracket. Those who invested at least $500 million have also seen a sharp decline of more than 80%. Funds with investments under $100 million USD have also seen a 30% decrease. However, financing of less than $5 million continues to flow in. Visit this link to learn more: https://www.magzter.com/stories/newspaper/The-Business-Guardian/FY24-STARTUP-FUNDING-IN-INDIA-DECLINED-BY-17The research emphasizes that there have been fewer larger transactions—those valued at more than $25 million—which often occur when a business is expanding. This indicates that fewer funds are being invested in startups generally, particularly in deals of medium to large scale. Investments in late-stage venture capital have also taken a severe impact.May 4, New Delhi, India (ANI): In comparison to the previous year, startup funding in India decreased by 17% in FY 24. The number of deals that investment professionals received per day on average dropped to three in 2024 from six in 2021. A Wealth 360 One report titled "India Invests" states that there has been a 60% decline in private equity in the USD 100–250 million bracket. Those who invested at least $500 million have also seen a sharp decline of more than 80%. Funds with investments under $100 million USD have also seen a 30% decrease. However, investment for less than $5 million USD continues to flow in.
EV motor & controller startup Attron Automotive raises Rs 4.75Cr led by Venture Catalysts and Anicut Capital
Anicut Capital and Venture Catalysts led a seed fundraising round that brought in Rs 4.75 crore for Attron Automotive, a firm that makes EV motors and controllers. With precision-engineered motor and controller solutions, Attron's purpose is to drive the evolution of electric mobility with the goal of promoting a sustainable future and improving vehicle performance. Other investors' involvement Notable organizations like Pontaq VC and angel investor Yashovardhan Shah also participated in the round. Increasing the range of products offered Because of its innovative design, the startup is renowned for its efficiency and decreased torque ripple. Attron's controllers, on the other hand, are made to be easily integrated and versatile. They have sophisticated features like real-time monitoring and adaptive algorithms, which guarantee optimal performance in a variety of settings. Increasing output With the additional funding, Attron Automotive intends to expand its business considerably. Attron Automotive's CEO, Mosam Ugemuge, announced that the business intends to establish a new production facility with a monthly production capacity of 8,000 vehicles. With this development, Attron hopes to address the increasing demand in the two- and three-wheeler segments—which include both passenger and load carrier categories—for its motor and controller solutions.The market for electric vehicle (EV) motor controllers is predicted to rise from $7,730.9 million in 2021 to $26,879.75 million by 2031, reflecting the unparalleled growth of the worldwide EV industry. Likewise, the market for electric vehicles (EVs) is anticipated to grow from $8.5 billion in 2022 to $56.95 billion by 2032. Inoorva "The investment in Attron Automotive underscores our commitment to fostering innovation and driving technological advancements in the electric mobility landscape," stated Ranjan Sharma, Director & MD, Venture Catalysts. Pioneering motor and controller solutions from Attron set new benchmarks in the automotive technology industry by exemplifying efficiency, dependability, and precision engineering.
Stanza Living posts Rs 442 Cr revenue and Rs 495 Cr loss in FY23
"Just before FY23, Kotak Mahindra and RBL Bank conducted a $57 million debt raise by managed housing company Stanza Living. The corporation was able to circumvent a four-fold rise in the fiscal year that ended in March 2023 because to the financing. In FY23, Stanza Living's operating revenue increased to Rs 442 crore from Rs 115 crore in FY22, as per the company's consolidated financial statements submitted to the Registrar of Companies. Co-living options are offered by managed housing platform Stanza Living to both students and working people. The company says it is present in 24 locations and has an inventory of over 75,000 beds spread across more than 450 households. Stanza Living's main source of income was rental properties. The Delhi-based company also receives income from food, yearly maintenance fees, and other related services. In FY23, the company additionally received Rs 16 crore in interest from its investments. When we look at costs, emploee benefits show up as the biggest expense, accounting for 27% of total costs. From Rs 223 crore in FY22 to Rs 255 crore in FY23, this expense grew by 14.3%. Its financing and depreciation costs increased to Rs 187 crore and Rs 218 crore, respectively, during the previous fiscal year as a result of the lease. Stanza Living's overall expenses increased by 66.6% to Rs 953 crore in due to overhead related to marketing, legal and professional, safety, electrical, and other costs. from Rs 572 crore in FY22 to FY23. Stanza Living's losses climbed by 18.71% to Rs 495 crore in FY23 from Rs 417 crore in FY22, but the respectable scale enabled the company contain those losses. Its EBITDA margin increased to -19.7% and ROCE to -21%, respectively. In FY23, it cost Rs 2.16 per unit to earn a rupee. Stanza Living has raised more than $180 million in funding rounds, and its most recent equity transaction valued the company at over $430 million. With 26.62% of the shares, Alpha Wave (previously Falcon Edge) is the top stakeholder, followed by Matrix Partners and Accel, according to the startup data analytics platform TheKredible. Stanza appears well-positioned to grow rapidly right now in a market that is predicted to have considerable growth over the next ten years thanks to a solid base of beds that are readily available, a presence in 24 cities, and presumably a well-oiled infrastructure. Right now, the formula looks to be rather straightforward. Raise the occupancy rate in order to raise the average cost per bed, and continue to carefully rightsize operations in response to feedback."
A Tracxn research states that over 75% of women-led enterprises are still unfunded.
According to a recent Tracxn analysis, India is home to over 8,000 firms that were created by women and have raised a total of about $23 billion in funding to date. Nevertheless, 590 of these firms make more than $30,000 in revenue, while 6,000 of them are still unfunded.The Department for Promotion of Industry and Internal Trade has statistics that shows there are 117,254 startups in the nation right now.According to a recent Tracxn analysis, India is home to over 8,000 firms that were created by women and have raised a total of about $23 billion in funding to date. Nevertheless, 590 of these firms make more than $30,000 in revenue, while 6,000 of them are still unfunded.Gender prejudice is pervasive in India's startup scene, as seen by the over 6,000 startups with female founders that have not received funding yet. Tracxn data indicates that over 8,800 Indian businesses led by women have raised a total of over $23.3 billion in funding. On the other hand, up to 2,300 firms led by women have secured funding thus far. Approximately 1,000 of them are in the Seed stage, 251 are in the Early stage, and 67 are in the Late stage at the moment.Over the last three years, VC financing for firms run by women has decreased by 75%. According to Tracxn data, VC financing for women-led firms peaked in 2021 at $6.5 billion, but by 2023, it had dropped to $1.1 billion.According to data, the tech startup ecosystem in India raised $8.7 billion in 2023. Of that amount, $1.15 billion was raised by companies led by women, accounting for 13% of the total.$112 million in funding has been given to women-led firms so far this year, nearly matching the $123 million raised in the first two months of 2023.
OYO To Launch 13 Self-Operated Hotels Under Premium Brand ‘Palette’ This Year
"SUMMARY Using a format akin to OYO Rooms, the business plans to open Gujarat's Morbi as the first independently run location under the ""Palette"" brand. Last year, Oravel Stays introduced ten hotels under the Palette brand as part of a test program in cities like Mumbai, Hyderabad, and Jaipur. OYO CEO Ritesh Aggarwal said last month that the company has doubled its PAT to INR 30 Cr in Q3 FY24, marking the second consecutive profitable quarter for the firm. By the end of this year, parent company Oravel Stays, a prominent player in the hospitality industry, plans to launch 13 independently run hotels under the upscale ""Palette"" brand. The business said in a statement on Thursday (March 7) that it will launch the concept by building a Palette hotel in Morbi, Gujarat, replicating an OYO Rooms model. By the end of this year, Oravel Stays, the parent company of Oyo, a significant player in the hospitality industry, wants to open 13 upscale hotels under the Palette brand. The business established ten Palette resorts in Jaipur, Hyderabad, Digha, Mumbai, Chennai, Manesar, and Bengaluru as part of a pilot program last year. With this, there will be 23 hotels operating under the Palette brand overall. Similar to Oyo's hotels, the Palette hotels will run on a ""self-operated"" model. As a result, the corporation won't need to invest much capital in this move. This will be the company's reintroduction of its self-operated concept, which it abandoned in 2020. The company added that it will assume direct operational control of a few Palette hotels in high-growth and potential regions in order to guarantee improved guest experience and service delivery. Morbi, dubbed the city of ceramics in India, is a major economic center in Gujarat, according to Oravel Stays. Ninety percent of India's tile output is produced in the district, which is home to around 800 tile factories with an annual revenue of roughly Rs 50,000 crore. We can't wait to open our first independently run Palette hotel in Gujarat, and Morbi is the ideal place to do it. Morbi is a significant market for us because of its thriving economy and expanding commercial prospects, according to Aditya Sharma, commercial Head, Oravel Stays."
Accenture to acquire edtech Udacity to accelerate capabilities of Accenture LearnVantage
"Accenture, a technology corporation, recently revealed that it will invest $1 billion over the course of the following three years in Accenture LearnVantage, a new initiative. The goal of the development is to meet the pressing demand for data, AI, and technological capabilities across businesses. The company plans to acquire Udacity, an educational platform, in order to improve its capacity to provide customized, industry-specific training on a large scale.Reducing the skills gap with individualized education LearnVantage is intended to assist businesses in promptly recognizing and closing the skills gap caused by the swift growth of technology. The platform offers a variety of tailored learning experiences and serves a broad clientele, including company executives and board members who want to learn about generative AI and IT workers who require specific training in AI, data science, cloud, and cybersecurity. The tactical purchase of Udacity Accenture made a calculated strategic move when it acquired Udacity, an edtech platform with its headquarters in California that is well-known for its certified job-ready skills. With Udacity's experience with scalable learning technologies, professional services, and exclusive content, the agreement is anticipated to greatly enhance Accenture's learning and training offerings. Accenture will benefit from the addition of over 230 Udacity professionals, expanding its talent pool and capabilities. Putting money into labor forces. Accenture has always been committed to upskilling; the company provides about 40 million training hours annually and spends more than $1 billion on learning and training for its employees. Accenture hopes to further this commitment to its clients by assisting them in becoming independent ""talent creators"" through LearnVantage. It is anticipated that the development will enable clients to fully utilize the opportunities presented by technological transformation, spurring creativity and corporate expansion. Establishing a cooperative learning environment Accenture LearnVantage is going to work with top technology ecosystem partners like Microsoft, Google Cloud, and Amazon Web Services to deliver industry-relevant technology training along with state-of-the-art generative AI material. Additionally, the platform will provide certification services and nanodegrees, guaranteeing that students obtain practical experience and acquire abilities that are immediately useful in the field. "
CHEFLING secures Rs 40 lakh from Shark Tank India judges
"An inventive business called CHEFLING is changing the Indian food scene in the busy alleyways of Mumbai. CHEFLING, a company founded by Rounit Gambhir, is on a mission to introduce international cuisines into Indian homes' kitchens with its distinctive Do-It-Yourself (DIY) cooking kits. These kits are made to make cooking world cuisine easier, enabling everyone to enjoy and participate in gourmet cooking. The founder of CHEFLING, Rounit Gambhir, has a background deeply ingrained in the textile sector. But the collapse of his family's textile business in 2019 gave him the motivation to forge his own route. In 2020, Rounit launched CHEFLING after realizing the potential of DIY meal kits in the Indian market and being inspired by the idea. His vision was driven by his desire to find a simple, affordable, and sustainable answer to the difficulties he had in obtaining foreign goods and recipes. How Does Chewing Operate? CHEFLING uses a straightforward but efficient model. It sells homemade cooking kits that come with everything needed to make a certain cuisine. These kits cover a wide range of different cuisines, such as Mexican (Chalada and Taco), Italian (Lasagna), and Japanese (Sushi and Mochi). To make cooking easy, each kit includes a comprehensive recipe and, occasionally, a QR code that takes users to a video demonstration and enjoyable. The signature item of CHEFLING is their sushi kit, which is well regarded for both its convenience and high quality. The kits are reasonably priced and come in several sizes to suit the needs of singles, couples, and groups. Rounit says that although while the kits seem expensive, they are actually rather affordable when you compare the amount and caliber of sushi they can make to restaurant costs. CHEFLING expansion CHEFLING has reported remarkable sales figures since its founding; Rounit disclosed a total sales amount of more than Rs 60 lakh in a span of three years. Additionally, the firm has added new kits to its catalog, broadening its selection of products and target market. India's DIY food kit market is expected to grow rapidly, potentially reaching an estimated value of Rs 8000 crore by 2025. Rounit hopes to gain a sizable portion of this market with CHEFLING. His goals are to showcase Indian cuisine to the globe and to make exotic cuisines available in every Indian home. His goals go beyond the available products; he intends to create a do-it-yourself bar kit and investigate other culinary advancements. Pitch to Shark Tank India A gourmet startup called CHEFLING sought Rs 40 lakhs for 10% equity in a compelling episode of Shark Tank India Season 3, valuing the company at Rs 4 crore. The pitch set off a bidding war that resulted in two primary offers: a combined offer of Rs 40 lakh for 25% stock from four investors, and an offer of Rs 40 lakh for 20% equity from Namita, Azhar, and Piyush. "
Shaadi.coms Anupam Mittal pleads with FM Sitharaman to ease KYC paperwork.
"Anupam Mittal, the creator of Shaadi.com, requested the Finance Ministry's help in streamlining the know-your-customer (KYC) documentation process for startups and angel investors, citing his concerns about the drawn-out and tiresome procedure. The Shark Tank India judge emphasized the importance of enacting laws that create an atmosphere that is favorable for Indian companies in his most recent article on X. The Income Tax Department responded to Anupam Mittal's post on X by asking him to send a letter containing a specific concern or question to the department so that the relevant personnel might ""get in touch"" with him. Even as we speak of being a startup nation, we require policymaking that is progressive. Every year, instead of concentrating on creating amazing businesses, the team spends an excessive amount of time providing KYC information to startups, who then work with several angel investors to get the paperwork submitted with @IncomeTaxIndia. ""Why is this harassment happening?,"" Anupam Mittal posted on X, tagging Finance Minister Nirmala Sitharaman and the Income Tax Department. Additionally, Mittal emphasized that extensive documentation is not necessary because the Income Tax department already has all the information on the majority of registered investors. Mittal commented, ""Madamji dekhiye pls, it's an unnecessary waste of time that sucks up countless unproductive hours of our time,"" tagging Finance Minister Nirmala Sitharaman's official X accounts. brightest in the nation at @PMOIndia. "Please write to us with your specific issue/query (along with PAN & your mobile number) via email at orm@cpc.incometax.gov.in so that our team can get in touch with you,"" the IT department said in response to the founder of Shaadi.com's post. Fintech and startups facing KYC issues In response to the I-T department's statement, Mittal stated that his primary concern was the cumbersome process of completing KYC documentation with the I-T department, without highlighting a single problem. The founder of Shaadi.com made these remarks about onerous KYC paperwork at a time when Paytm Payments Bank is being investigated by the Reserve Bank of India for a number of reasons, including complaints about procedural errors in its KYC system. Recently, Nirmala Sitharaman chaired a meeting with start-up and fintech ecosystem organizations to address the digitization and simplification of KYC across all fintech segments. The cost of lending for important locations, ownership and control changes for fintech companies that are listed to help them comply with regulations, and cybercrime concerns were among the other topics covered in the conference."
Shadowfax raises $100 million Series E round led by TPG New Quest
"Mumbai: Shadowfax, a modern logistics services provider, announced on Tuesday that it has raised $100 million for its Series E round, which is being led by TPG NewQuest, through a combination of primary and secondary funding. Those with knowledge of the situation claimed the deal values the nine-year-old company at $500-550 million, though specifics of the valuation were not made public.According to a press statement from Shadowfax, the round also included participation from current investors Mirae Asset Venture Investments (India), Flipkart, International Finance Corporation, Nokia Growth Partners, Qualcomm, and Trifecta Capital. The news of NewQuest's interest in the business was initially reported by Mint. To date, the company has raised close to $120 million from investors, including Flipkart, Qualcomm Ventures, Eight Roads Ventures, and US investment firm NGP Capital. Eight Roads Ventures, an early investor in the business that has supported it since its Series A in 2015, made a partial exit through this round, according to ShadowFax. In an interview with Mint, cofounder and CEO of Shadowfax Abhishek Bansal stated that the company has been growing profitably over the last four quarters, with an annualized revenue run rate of ₹2,400 crore for FY24. By March 31, 2024, it hopes to have closed its first year with a positive Ebitda. Bansal stated, ""We will be actively looking for more inorganic opportunities, given that we are already profitable."" The company also intends to list on Indian bourses over the next 24 months. Shadowfax intends to use the additional funding over the course of the next 18 months to expand last-mile delivery over all 20,000 Indian pin codes and increase its middle-mile network. A portion of the money generated will be put toward expanding Shadowfax's express delivery network and creating services for direct-to-consumer (D2C) brands. Due to the rapid growth of trade in the nation, logistics companies now need to operate quickly. We intend to enhance our technology capabilities and develop middle-mile delivery in order to establish ourselves as a fully-fledged courier within the 3PL space,"" Bansal said. The company, which was founded in 2015 by Bansal, Vaibhav Khandelwal, Gaurav Jaithliya, and Praharsh Chandra, provides services to online-first brands that range from pharmacy and food delivery services to larger e-commerce logistics. 30-minute deliveries are available for speedy commerce. ""Shadowfax is transforming India's e-commerce logistics industry. Their developed technology stack has impressed us. According to Amit Gupta, partner and head of TPG NewQuest's India and Southeast Asia, ""this helps with the delivery of superior service metrics and allows them to quickly adapt their services to client's changing needs at the lowest price."" "
