Top Trending StartUps News & Highlights
Eternal Q2: Revenue Up 183% YoY, Profit Drops 63% YoY To INR 65 Cr
The combined profit for Q2 FY26 of Zomato and Blinkit parent company Eternal fell 63% to INR 65 Cr from INR 176 Cr in the same quarter last year. On a sequential basis, the company’s profit jumped 160% from INR 25 Cr PAT reported in the previous quarter.For the second quarter (July-September) of FY26, food delivery business Eternal, formerly known as Zomato, reported a dramatic 63% year-over-year fall in its consolidated net profit, which came in at Rs 65 crore as opposed to Rs 176 crore in the same quarter the previous year. The company's net profit, however, improved sequentially from Rs 25 crore during the April–June quarter.Eternal's operating revenue increased by an astounding 183% year over year to Rs 13,590 crore in Q2FY26 from Rs 4,799 crore in the same period of the previous fiscal year, despite the decline in profitability. However, the topline decreased by about 90% sequentially from the Rs 7,167 crore recorded in Q1FY26.The business blamed strategic expenditures meant to propel long-term growth, especially in its rapid commerce division, Blinkit, for the sequential impact on margins and topline. Although absolute losses decreased, Eternal pointed out that the rate of margin improvement was slower than anticipated, mostly as a result of aggressive spending in crucial areas including infrastructure, store expansion, and marketing.
Published 16 Oct 2025 05:18 PM
To go outside of Delhi NCR, HouseEazy has raised INR 150 Cr.
The proptech business HouseEazyHouseEazy Datalabs_in-article-icon has recently announced raising INR 150 Cr ($16.9 Mn) in its Series B investment round, almost six months after Inc42 reported that the company was in advanced talks with investors to seek fresh funds. Accel led the round, with a few unnamed investors joining in addition to current investors Chiratae Ventures and Antler.The proptech business, which was in advanced talks with investors to secure more funds, has today announced that it has raised INR 150 Cr ($16.9 Mn) in its Series B fundraising round. Accel led the round, with a few unnamed investors joining in addition to current investors Chiratae Ventures and Antler. According to OpenAI, prejudice erodes trust, which is why it wants ChatGPT to be "objective by default." There is presently no industry-wide definition of political bias in AI, nor is there a technique that can totally eradicate it, according to the company's description of political and ideological bias in big language models as an open research challenge in this study.
Published 14 Oct 2025 05:12 PM
In negotiations to raise $100 million in a round headed by General Atlantic, Snapmint
Snapmint is in advanced negotiations with General Atlantic to raise around $100 million, or INR 886 crore, in a fresh investment round. There will be primary and secondary components to the financing, and some early angel investors may partially withdraw. A few early angel investors are probably going to partially depart the round, which will have both primary and secondary components.Mumbai: According to four persons with knowledge of the situation, consumer lending platform Snapmint is currently gathering $100 million in a funding round headed by General Atlantic and involving current backers Elev8 Venture Partners and Kae Capital.Snapmint is in advanced negotiations with General Atlantic to raise around $100 million, or INR 886 crore, in a fresh investment round. There will be primary and secondary components to the financing, and some early angel investors may partially withdraw.is in advanced discussions to raise over $100 million (roughly INR 886 crore) in a fresh investment round headed by General Atlantic, according to sources.
Published 13 Oct 2025 05:08 PM
Eternal Shares Reach New 52-Week High Following Citi's Target Price Increase
Shares of Eternal and SwiggySwiggy Datalabs_in-article-icon rose during the intraday trading on the BSE today after brokerage Citi raised the target price (TP) for both the companies.During intraday trading, Eternal reached a new 52-week high of INR 347.50 after Citi elevated its target price for the stock from INR 320 to INR 395. Citi reports that the growth momentum for Eternal's quick commerce business, Blinkit, remains impressive, and the increase in app traffic indicates a focus on user acquisition. Citi raised the target price for Swiggy from INR 465 to INR 495, representing a 17% upside from yesterday’s close of INR 421On the BSE, shares of Eternal rose to a 52-week high of Rs 347.50 on Thursday, increasing by as much as 1.7%. In 2025, the stock has risen by almost 25%, and over the last month, it has increased by approximately 6%. Citi kept its 'buy' rating for Zomato while changing the target price from Rs 320 to Rs 395 per share. The share price of Eternal Ltd. was bolstered by research firm Citi, which raised the price target from Rs 320 to Rs 395 while keeping a 'buy' rating on the stock. The 23% increase is mainly fueled by the impressive growth momentum and robust market leadership of its Quick Commerce business—Blinkit. The brokerage has raised its valuation multiple significantly and has increased its
Published 09 Oct 2025 04:11 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.
The law firm with a venture fund mindset
Contrary to what its name might imply, it is not an incubator, private equity fund, or venture capital business. It's a legal practice in one of the oldest law firms in Canada that specializes in offering digital businesses special assistance.By assisting founders with everything from employment contracts to regulatory obstacles and utilizing the firm's wider network to foster genuine connections, the team integrates itself into the day-to-day reality of startup life rather than focusing just on high-profile transactions.Ramji's notion that the proper legal support can be equally as important to a startup's success as its funders is the foundation of its hands-on approach to legal support and its unique payment model.Ramji started her career in trademarks and pharmaceutical patent litigation after receiving her Juris Doctor from Queen's University. After that, she worked for the Canadian Standards Association in an internal legal capacity before attending New York University to obtain a master's degree in law. Ramji's perspective on legal services changed significantly in 2014 when she joined Figure 1, where she oversaw legal and corporate affairs, even if these experiences helped her better grasp business and regulations.
Baichuan, a Chinese AI startup, loses a co-founder
For personal reasons, Hong Tao, a co-founder of Baichuan, a Chinese AI firm, has departed the company. The Beijing-based company thanked him for his efforts, particularly in assembling the monetization team, and announced his resignation on Tuesday.One of China's top AI startups is Baichuan. His departure is a result of continuous leadership changes at Chinese AI firms, which are dealing with heightened competition in the industry. For personal reasons, Hong Tao, a co-founder of Baichuan, a Chinese AI firm, has departed the company. The Beijing-based company thanked him for his efforts, particularly in assembling the monetization team, and announced his resignation on Tuesday. One of China's top AI startups is Baichuan.
Lab-grown diamonds are not "synthetic," according to modern companies.
The term "synthetic" is being opposed by new-age jewelry businesses because it incorrectly equates lab-grown diamonds (LGDs) to diamond simulants. In light of India's fast expanding LGD market, which is predicted to reach $1.19 billion by 2033, they call on the Central Consumer Protection Authority to prioritize consumer education and clear labeling.A wide range of investment opportunities across industries and market segments are presented by India's economic growth. Anupam Tiwari, Head of Equity at Groww Mutual Fund, discusses in a recent livestream how the recently introduced Groww Multicap Fund is ideally positioned to profit from India's changing economic narrative.
Uber introduces a boat hailing service on the picturesque Dal Lake in Kashmir
Srinagar: The charming Dal Lake in J&K is now home to Asia's first water transport service, "Uber Shikara." With shikara reservations on its app, Uber launched the first water transportation service in Asia. 'Uber Shikara', Uber's first water transport service, has been launched, making travel to Dal Lake hassle-free for tourists. By combining technology and tradition, this creative project enables travelers to reserve shikara rides in advance via the well-known ride-hailing app.Seven local Shikara owners have collaborated with Uber, and the company expects to grow its fleet in response to user demand. Government-regulated prices will apply to rides, guaranteeing tourists fair pricing. Nehru Park, an island park in the center of Dal Lake, is where the seven shikaras are stationed. Crucially, Uber will not impose any fees on its shikara partners, guaranteeing that the entire fare is paid to the boat operators directly."Anyone who visits Srinagar must take a shikara ride, which is a classic activity on every traveler's bucket list," stated Ruchika Tomar, Director of Communications at Uber. Our service offers travelers a seamless experience by fusing Kashmir's ancient beauty with the enchantment of technology. Up to four people can travel in each Uber Shikara, which is available for one-hour reservations every day between 10 a.m. and 5 p.m. It is possible to book rides 12 hours to 15 days in advance.
Byju's bankruptcy: Riju Raveendran petitions the NCLT to be included in the case
On Monday, Riju Raveendran, the brother of Byju Raveendran, the founder of the insolvent edtech company, and its largest stakeholder, went to the Bengaluru insolvency tribunal to request inclusion in the case. The tribunal, however, voiced concerns over his involvement in the proceedings.Before the tribunal, Riju's attorney begged for permission to defend himself against claims made by Byju's lenders—specifically, Glas Trust, a US-based lender—about where the Rs 158 crore that was first given to the Board of Control for Cricket in India (BCCI) to pay its debts came from.Byju's US-based lenders had resisted the settlement, arguing that the funds utilized to reimburse BCCI were corrupted because they were included in the $533 million that was purportedly "missing." The tribunal, however, stated that determining the source of funds falls under the jurisdiction of the income tax authorities and the Enforcement Directorate. It directed the lenders to file objections to Raveendran’s plea and adjourned the hearing.However, the panel declared that the Enforcement Directorate and the income tax authorities had the authority to ascertain the source of funds. It postponed the hearing and instructed the lenders to oppose to Raveendran's plea.The appeal panel was earlier informed by Riju Raveendran, a board member of the business, that the funds paid to the BCCI were "clean." His attorney had maintained that the $533 million that the lenders said was "missing" did not include the payment to the BCCI. The US lenders and Byju's parent business, Think & Learn, are at odds over the missing funds.
Uber and Bolt launched a women only service in Paris
Two rival ride-hailing platforms announced on Thursday options allowing Parisian women to order a car driven by a female driver in a bid to ensure "greater safety" for its customers. The "Uber by Women" option, available from Thursday, comes at no extra cost but with potentially longer waiting times. Uber launched a similar scheme in other European countries as the company grapples with a litany of sexual assault or harassment claims against their drivers. The change will ensure "greater safety" for its women customers, said Uber, with some 1,500 female drivers already available in Paris. There is a reminder on the app that the option is for women only, and drivers can cancel if a man tries to use it, the platform told AFP. "Waiting times ... could be higher than with other options, 15 minutes on average compared to four minutes" for a standard order, Uber said. But the ride-share company also hopes the change will attract more women drivers by offering them a "substantial reduction" on the fees charged for each ride. Uber by Women is an "excellent way of increasing the attractiveness of the ride-hailing profession to women who would otherwise not consider it", said Uber's head in France, Laureline Serieys. European rival Bolt also announced the launch of a similar option in France called "Women by Women", set to roll out by the end of 2024. "It is essential to guarantee the safety of all women using ride-hailing services," said France's Bolt director Julien Mouyeket. "The 'Women for Women' category embodies this commitment, meeting the safety expectations of female users while protecting female drivers," he added.
SolarSquare's valuation is expected to increase threefold with new investment.
SolarSquare is currently in detailed discussions to secure $30 million in a new funding round, spearheaded by Lightspeed Venture Partners, with an anticipated valuation of $130 million. Established in 2015, SolarSquare Energy started its journey with business-to-business rooftop solar solutions and shifted to the business-to-consumer segment in 2021. In the fiscal year 2023, SolarSquare reported a net loss of INR 30 crore against an operating revenue of INR 107 crore.Several months after securing $4.2 million from prominent investors, including Zerodha Technology and Nikhil Kamath’s Gruhas Proptech, the rooftop solar solutions company SolarSquare is planning to raise an additional $30 million in a new funding round. Based in Mumbai, the startup is currently engaged in advanced discussions for this round, which is expected to be spearheaded by Lightspeed Venture Partners, according to a report by Mint citing insider information.The funding round, expected to conclude by next month, is projected to value the startup at $130 million — representing a 2.7X increase from its earlier valuation of $47.7 million, according to the report. Inc42 has contacted Shreya Mishra, cofounder and CEO of SolarSquare, for her insights on this development. The article will be updated following her response. SolarSquare is reportedly planning to utilize the new funds to expand its operations and fulfill its capital expenditure requirements.Established in 2015 by Neeraj Jain, Nikhil Nahar, and Shreya Mishra, SolarSquare Energy began its journey by providing B2B rooftop solar solutions but shifted its focus to the B2C market in 2021. The company delivers a comprehensive range of rooftop solar solutions, encompassing the design, installation, and financing of solar systems for residential homes, housing societies, and commercial properties. SolarSquare faces competition from various solar solution providers, including Zunroof, Cleantech, Mysun, Oorjan, and Freyr Energy, among others. As reported by Inc42, SolarSquare has secured over $20.25 million in funding to date. In May, the company successfully raised $4.2 million from investors including Zerodha Technology, Gruhas Proptech led by Abhijeet Pai and Nikhil Kamath, Lowercarbon Capital, and Good Capital.
To encourage technological innovation, Rajasthan will host an IT and startup summit.
OVERVIEW To establish the state as a center for innovation and technology, the Rajasthani government will hold the "Information Technology & Startup Pre-Summit" on November 12. The "Rising Rajasthan Global Investment Summit 2024," which intends to double the state's GDP and exports by 2030, will be preceded by the pre-summit. The state government will sign Memorandums of Understanding to promote partnerships and strengthen Rajasthan's tech sector at the pre-event.Rajasthan is positioned as a vibrant center for innovation and entrepreneurship and is about to undergo a technological revolution. The 2018 Information Technology & Startup Pre-Summit, with the theme "Building a Resilient Future – Lessons from Leading Innovators," is expected to be a crucial event in the state's efforts to develop a strong startup ecosystem. The Confederation of Indian Industry (CII) and iStart Rajasthan are collaborating to arrange this summit, which is set for November 12, 2024, in Jaipur from 9 am to 5 pm. The Potential of AI and Technology Artificial intelligence (AI) and technology are key forces behind change in today's rapidly changing world. The importance of using AI and technology breakthroughs to enhance Rajasthan's sectors and provide opportunities for innovation and economic resilience will be emphasized at this summit. Rajasthan's potential as a tech-driven state can be strengthened by utilizing AI to not only expedite procedures but also develop innovative answers to challenging problems in a variety of industries.
In FY24, cashless losses increased by 2.17% while revenue increased by 4.19%.
OVERVIEW In the fiscal year 2023-24 (FY24), Cashfree Payments' net loss increased by 2.17% to INR 136 Cr from INR 133.1 Cr in the prior fiscal year. In the meantime, the company's operational revenue climbed from the reported INR 613.6 Cr in FY23 to INR 639.3 Cr in the year under review, a 4.19% rise. The Reserve Bank of India recently granted the business a prepaid payment instrument (PPI) license, enabling it to make purchases and transfer funds against a preset value.CashfreeCashfree Datalabs_in-article-icon Fintech platform In the fiscal year 2023-24 (FY24), Payments' net loss increased by 2.17% to INR 136 Cr from INR 133.1 Cr in the prior fiscal year. From the reported INR 613.6 Cr in FY23 to INR 639.3 Cr in the year under review, the startup's operating revenue grew by 4.19%.A full-stack digital payments solution platform, Cashfree was founded in 2015 by Akash Sinha and Reeju Datta. It provides API banking solutions and makes it possible for companies to collect payments. The majority of the startup's revenue comes from commission income, which is derived mostly from the sale of services. With support from Y Combinator, State Bank of India, Apis Partners, and other investors, the firm has raised more than $40 million in total capital to date. It faces competition from companies like PayU, Bill Desk, and Razorpay. The Reserve Bank of India recently granted the business a prepaid payment instrument (PPI) license, enabling it to make purchases and transfer funds against a preset value.
INR 1,000 Cr Space Sector Venture Capital Fund Approved by the Cabinet
OVERVIEW A venture capital fund under IN-SPACe with a corpus of INR 1,000 Cr was authorized by the Union Cabinet after being first announced by Finance Minister Nirmala Sitharaman in her budget speech. FY26 to FY30 have been designated by the Center as the years for the deployment of funding. Depending on the company's stage, growth trajectory, and possible influence on the national space arena, the typical investment would be between INR 10 Cr and INR 60 Cr. The establishment of a Rs. 1000 crore venture capital fund for the space industry under the auspices of IN-SPACe has been approved by the Union Cabinet, which is led by Prime Minister Shri Narendra Modi. S.No. About 40 businesses are anticipated to be supported by the fund based on the funding range mentioned above.
Russia is debating whether to host the SCO Startup Forum.
The Shanghai Cooperation Organization Startup Forum facilitates the exchange of innovative best practices and the beginning of collaborative ventures. We are exploring the potential of hosting it in Russia the following year. In close consultation with the Indian side, we are developing the agenda. Aspiring businesspeople and investors from our nations will find the event fascinating, Mishustin stated.Nine member states—the Republic of India, the Islamic Republic of Iran, the Republic of Kazakhstan, the People's Republic of China, the Kyrgyz Republic, the Islamic Republic of Pakistan, the Russian Federation, the Republic of Tajikistan, and the Republic of Uzbekistan—make up the Shanghai Cooperation Organization (SCO), a permanent intergovernmental international organization. In order to maintain and ensure peace, security, and stability in the region, the SCO works to build mutual trust and neighborliness among its member states, encourage effective cooperation in politics, trade, economy, research, technology, and culture, as well as in education, energy, transportation, tourism, and environmental protection, among other areas. It also works to establish a new international political and economic order that is democratic, equitable, and logical.
By Q2 2025, Bluestone plans to launch an INR 2,100 Cr IPO.
SUMMARY At an estimated valuation of $1.5 billion, Bluestone is expected to raise up to INR 2,100 cr through its IPO. Investment bankers Axis Capital and IIFL Securities, among others, have been enlisted by the omnichannel jewelry firm to assist with its public offering. The news follows Bluestone's pre-IPO investment round, in which the company raised INR 900 Cr, almost propelling it into the unicorn club.With new-age digital companies like Swiggy, Ather Energy, and BlackBuck rushing to list on the stock exchanges, the Indian IPO bubble is still going strong. Now, omnichannel jewelry firm BluestoneBluestone Datalabs_in-article-icon is preparing to enter the fray.Bluestone is getting ready to go public by the second quarter of next year, according to Mint. At an estimated valuation of $1-1.5 billion, the Prosus-backed business is expected to generate $200-250 million (about INR 1,681-2,100 crore) through its initial public offering. According to reports, the business helmed by Gaurav Singh Kushwaha and Vidya Nataraj has enlisted the assistance of investment bankers Axis Capital, IIFL Securities, and Kotak Mahindra Capital for its public offering. The company is anticipated to submit its draft red herring prospectus (DRHP) to market regulator SEBI later this year.Bluestone did not respond to Inc42's questions until this story was published. It will be the first initial public offering (IPO) by an Indian new-age jewelry company if Bluestone's intention to go public is successful.According to sources, Bluestone raised INR 900 Cr in August from investors like Peak XV Partners, Prosus, and Steadview Capital in a pre-IPO investment round, almost propelling the business to the unicorn club. Bluestone, an omnichannel jewelry firm founded in 2011 by Gaurav Singh Kushwaha and Vidya Nataraj, boasts over 8,000 designs for rings, pendants, earrings, and other items. The firm uses a franchise arrangement to run the remaining retail locations while owning some of its own. It asserts that it has more than 200 retail locations nationwide. Legacy jewelry brands like CaratLane, GIVA, Melorra, and others are competitors of BlueStone. The business secured INR 100 Cr in debt capital in June.
The Good Bug Secures $3.5 Million from Fireside Ventures and Sharrp
OVERVIEW The startup has already raised INR 20 Cr of the INR 30 Cr. It is anticipated that the final sum will arrive shortly. The new funding will probably be used by The Good Bug to increase the range of products it offers. The Good Bug is a direct-to-consumer company that was established in 2022 by Keshav Biyani and Prabhu Karthikeyan that sells a variety of intestinal health and wellness goods.In its Series A extension round, Mumbai-based direct-to-consumer firm The Good Bug raised $3.5 million, or roughly INR 30 crore, from Sharrp Ventures, the Marcio Group chairman Harsh Mariwala's family office. The startup's previous investors, Fireside Ventures and cofounder Keshav Biyani, also participated in the investment round, according to its RoC filing. To raise money, the business gave the three investors 630 Series A1 and Series A2 compulsory convertible preference shares (CCPS). According to the filing, these CCPS will be converted into equity shares at a 1:10 ratio during the upcoming fundraising event. The startup has already raised INR 20 Cr of the INR 30 Cr. It is anticipated that the final sum will be received shortly. A letter of inquiry to The Good BugThe new funding will probably be used by the firm to increase the range of products it offers. Nearly a year has passed since The Good Bug's $3.5 million Series A fundraising round, which was headed by Fireside Ventures, concluded. Future Group founder Kishore Biyani's daughters Ashni and Avni's Think9 Consumer Technologies also participated in the round. It is important to remember that Kishore Biyani's nephew is Keshav Biyani. The Good Bug, which was founded in 2022 by Keshav Biyani and Prabhu Karthikeyan, provides a line of gut health and wellness products that assist people with chronic lifestyle problems like constipation, bloating, and weight loss through gut health, among others. Financial year 2022-23 (FY23) sales for the startup were INR 2.79 Cr.
Reforms to Indian regulations may expedite the return of firms destined for initial public offerings.
The elimination of a laborious compliance procedure by India is expected to hasten the return of overseas-domiciled Indian companies to their home country in order to take advantage of the listing boom. This prediction comes from investors, bankers, and attorneys.A so-called "reverse flip" merger with a domestic subsidiary no longer requires approval from the backlogged National Company Law Tribunal, as of last month. This effectively cuts the process's duration in half, from at least 12 to 18 months to three to four months.Many of the dozens of Indian startups that originally decided to locate overseas in order to have easier access to capital and pay lower taxes are now lining up to return home from financial hubs like the United States and Singapore because of the better prospects for their initial public offerings in a nation that forbids dual listings. According to several sources, Zepto, Eruditus, and InMobi are attempting to complete the merger process in the upcoming months in order to be ready for potential initial public offerings (IPOs), while Razorpay, Pine Labs, and KreditBee are further along in finishing the reverse flip. Because they were not authorized to talk in public, the sources spoke on the condition of anonymity. "We have a home market in India, where people are familiar with and understanding of us. From a listing standpoint, being in India makes sense," Razorpay CEO and co-founder Harshil Mathur stated.With its most recent funding in December 2021, the U.S.-domiciled online payments company was valued at $7.5 billion, and it plans to relocate to India. According to LSEG data, IPOs in India, including those by startups Ola Electric and FirstCry, have raised $9.17 billion in the first nine months of this year, up from $4.68 billion in the same period last year. This makes India a unique bright spot for businesses in the Asia-Pacific region looking to raise equity capital. "A reverse flip makes sense given how well the IPO market is doing. This strategic approach is further supported by the streamlined merger process, which was created to enable quick and easy scheme approvals without the need for court intervention, according to Mehul Shah, a partner at corporate law firm Khaitan & Co.
Grand Anicut's INR 100 Cr Debt Is Captured by WayCool
Waycool, the Chennai-based agriculture supply chain startup, has raised Rs 100 crore (approximately $12 million) in debt funding from Grand Anicut. In the past two years, this is the company's first significant infusion. According to the board's regulatory filing obtained from the Registrar of Companies (RoC), it plans to raise Rs 100 crore or $12 million by issuing 1,000 Series B6 debentures at an issue price of Rs 10,00,000 per. With a duration of 18 months, the debt has an annual coupon rate of 18%. According to the documents, the corporation intends to use the money for continuing commercial activities. For Waycool, this financing deal represents a major victory because the business has had difficulty raising capital in an equity round. Founded by Jayaraman KarthikWith an eye toward profitability by July of this year, the corporation also fired 200 employees across divisions in an effort to reduce costs. In FY23, Waycool's operating revenue increased by 62% to Rs 1,251 crore, but its losses increased by 89% to Rs 685 crore in the same time. It has not yet submitted its FY24 annual report. The lack of equity funding for agritech businesses is emphasized by Waycool's debt financing. Notably, over the previous several years, three companies—Waycool, Dehaat, and Ninjacart—have been on the verge of becoming unicorns. Still, the industry hasn't produced its first unicorn. TheKredible, a startup data analytics platform, reports that in 2024, agritech will continue to be among the least financed industries, with over 30 firms raising just $150 million.
Following the CEO's proposal to invest $100 million in a healthcare venture, PB Fintech gains 4%.
SUMMARY PB Fintech is anticipated to obtain board permission before making a one-time investment of $100 million to acquire a 30% share in a startup healthcare company. With a price target of INR 1,750 per share, brokerage company Bernstein has maintained its "outperform" rating on PB Fintech. In Q1 FY25, PB Fintech reported a consolidated net profit of INR 59.98 Cr, up from a loss of INR 11.9 Cr in the same quarter the previous year.In intraday trading today (September 30), shares of PB Fintech, the parent company of PolicyBazaarPolicyBazaar Datalabs_in-article-icon and Paisabazaar, increased by more than 4% to INR 1,715.40 apiece on the BSE following confirmation by chairman and group CEO Yashish Dahiya that the company is contemplating a move into the healthcare industry.After receiving board permission, PB Fintech is probably going to invest $100 million one time to purchase a 30% interest in a startup healthcare company, Dahiya said CNBC-TV18.A middle-class individual cannot afford to pay INR 78,000 per night for a bed, according to Dahiya, who also explained the company's decision to enter the healthcare industry. She added that PB Fintech's goal is to close the gap between hospitals and insurance providers. Last week, rumors of PB Fintech's intentions to enter the healthcare industry started to circulate. According to a September 27 exchange filing, Dahiya indicated on the most recent analyst call that the business was considering plans to join the healthcare industry.Investors have received enormous profits from PB Fintech since its 2021 public debut. The stock has increased by 42% from its listing price of INR 1,150 per share and by more than 67% from its INR 950 issue price. So far this year, it has increased by more than 107%.With a price objective of INR 1,750 per share, brokerage company Bernstein kept its "outperform" rating on PB Fintech last week. This suggests that the stock may rise by approximately 7% from its previous closing.The brokerage observed that the stock's fast growth, solid business plan, and cash generation had made investors optimistic about it. There's good cause to be optimistic. For the months of April through June, PB Fintech reported its third consecutive profitable quarter. In contrast to a loss of INR 11.9 Cr in the same period last year, the company reported a consolidated net profit of INR 59.98 Cr in the first quarter of the financial year 2024–25 (FY25).
Gharda Chemicals will create a new foundation to support entrepreneurs.
The foundation, which was established in collaboration with the Anjani Mashelkar Foundation, will support business owners who are committed to producing healthcare and core engineering innovations with a social conscience.The Mumbai-based company Gharda Chemicals, which produces polymers, veterinary medications, and insecticides, announced in a statement that it has established the KHG Innovation Foundation to support innovators developing technology that may close gaps and improve societal results.The foundation, which was established in collaboration with the Anjani Mashelkar Foundation, will support business owners who are committed to manufacturing healthcare and core engineering innovations with a social conscience.According to Nilesh Kulkarni, director of Gharda Chemicals, "the foundation is funded by Gharda's (founding chairman and managing director Keki Hormusji Gharda) personal wealth and the profits from the holding company." Gharda Medical and Advanced Technologies is the holding corporation.The non-profit foundation would have an initial endowment of about ₹30 crore, which will be refilled annually. The foundation has two options: it can invest or give grants to business owners. It will first concentrate on medical technology.mentoring and direction In addition to funding, the foundation will give the entrepreneurs access to mentorship, direction, and strategic counsel from thought leaders and industry professionals. Additionally, the announcement stated that KHGIF would "have tailored programs that support both for-profit and not-for-profit enterprises alike and drive pilot projects to help innovators scale for impact." India has set out to become a global leader in manufacturing and has started the process of becoming a developed nation in the near future. We think that attaining such status will require a strong emphasis on entrepreneurship together with innovation. Gharda, who turned 95 on Wednesday, stated in the statement that "establishing KHGIF is one among several such efforts that would be required as we proceed towards developing that capability."
CoinDCX Launches Web3 Mode To Make Crypto Purchases In INR Easier
OVERVIEW Users will have access to over 50,000 pre-launch, trending, and upcoming DeFi tokens thanks to the Web3 integration. Through the CoinDCX app, it will make it easier to buy and transfer tokens like Ethereum (ETH), MATIC, Tether (USDT), and USD Coin (USDC) in Indian rupees. In addition, CoinDCX has revealed a points airdrop to thank its current users.Moreover, the Web3 mode makes Web3 easily accessible through a simple INR on-ramp. Through the traditional CoinDCX app, users can purchase tokens such as ETH, Matic, USDT, USDC, and more using INR. These tokens can then be transferred to Web3 Mode for the purpose of acquiring assets within Web3.Users will be able to access pre-launch and emerging tokens from big and developing ecosystems including Base, Solana, Binance Smart Chain, Polygon, and ten more chains via the Web3 mode. Moreover, the Web3 mode makes Web3 easily accessible through a simple INR on-ramp.On June 25, cryptocurrency market CoinDCX revealed that its app has integrated Web3 mode, allowing users to access over 50,000 decentralized tokens in an INR-friendly format. According to CoinDCX CEO and co-founder Sumit Gupta, 15 million customers of the exchange can now use Web3 more easily thanks to this connection.Users will be able to investigate and purchase coins that aren't currently listed on centralized exchanges using the Web3 method.The group has been attempting to delve further into Web3. We are adamant about our goal of making Web3 and cryptocurrency more approachable and available to all Indians. This is significant to us since not many businesses or goods have that level of functionality worldwide. Making it is really difficult," Gupta said to Moneycontrol.Using its own SDK, Okto stack, CoinDCX was able to accomplish this integration, he claimed. With this integration, accessing Web3 offerings no longer requires 10 steps—just one click within the app. "We worked on the integration of this feature in the background for three to four months after we finished building it."
