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Adani Group gets ready to raise up to ₹40,000 crore from retail investors, aims to hedge risks: Report | Mint

LivemintLivemint · 11m ago
Adani Group gets ready to raise up to ₹40,000 crore from retail investors, aims to hedge risks: Report | Mint
Medial

Adani Group is planning to raise up to ₹40,000 crore from retail investors over the next few years to diversify funding sources and reduce risk. The group's arm, Adani Enterprises, has already launched its public issue of secured non-convertible debentures worth ₹400 crore, which received full subscription on the first day. The company aims to launch similar public issues for other group entities to decrease its reliance on a limited set of lenders. Adani Enterprises has witnessed a rise in debt, with long-term borrowings increasing by 34.14% year-on-year. However, the company's liquidity position remains strong, with cash reserves covering over 30 months of debt payments.

Vahan.ai secures strategic investment from Temasek’s LemmaTree, acquires L.earn

EntrackrEntrackr · 29d ago
Vahan.ai secures strategic investment from Temasek’s LemmaTree, acquires L.earn
Medial

Vahan.ai, a recruitment platform for blue-collar workers, has announced a strategic investment from LemmaTree, an investment firm founded by Temasek. Alongside this transaction, Vahan.ai has also acquired L.earn, the digital learning and upskilling tech platform of GoodWorker, which was backed by LemmaTree. The proceeds will primarily be used to enhance Vahan.ai’s proprietary tech stack, including the development of advanced AI capabilities tailored for large-scale, multilingual recruitment. Based in Bengaluru, the company says that acquiring L.earn adds a powerful skilling layer to its offering. L.earn provides mobile-first, vernacular content tailored for gig and frontline workers in sectors like logistics, manufacturing, and retail. By embedding modular skilling journeys directly into the job-seeking process, Vahan.ai will empower workers to improve employability, access better-paying roles, and build long-term careers. According to market research, India’s blue-collar workforce is set to drive 70% of the country’s new employment growth by 2030. This segment is also experiencing wage increases, with blue-collar jobs growing at a rate of 5.7% annually. Vahan has placed over 1 million workers across more than 920 cities and currently facilitates approximately 40,000 job placements per month for employers such as Zepto, Swiggy, Blinkit, and Zomato. The platform plans to expand support to eight additional Indian languages, enabling deeper access for job seekers in Tier 2 and Tier 3 markets. Vahan.ai also aims to enter new high-growth sectors while accelerating its footprint across India and select international markets such as Southeast Asia and the MENA region. Vahan bridges gaps in digital literacy, language barriers, and infrastructure. At its core is a voice-based AI recruiter powered by OpenAI’s GPT-4o, capable of conducting human-like conversations with job seekers in English and Hindi over a simple phone call. This AI layer streamlines the hiring journey—from job discovery and application to interview scheduling—overcoming traditional barriers like digital literacy, language, and infrastructure. To date, Vahan has raised $23.7 million from Khosla Ventures and others.

Pet food brand Drools claims unicorn status after minority stake by Nestlé

EntrackrEntrackr · 3m ago
Pet food brand Drools claims unicorn status after minority stake by Nestlé
Medial

Pet food brand Drools claims unicorn status after minority stake by Nestlé Drools Pet Food Private Limited claims it has become India’s first pet food unicorn following a minority investment by Nestlé S.A., the parent company of Nestlé India. Drools has not disclosed the details of the transaction but will continue to operate independently post-investment. The deal gives Nestlé access to India’s growing pet food market, while Drools is expected to continue expanding in both domestic and international markets. Drools, with brands like Pure Pet, Meat Up, Canine Creek, and Kitty Yum, claims to be the top seller in the pet food category on Amazon. The company operates fully online and also sells offline, including vet clinics, pet stores, and general trade retailers. Founded by Fahim Sultan in 2010, Drools operates six production facilities and has a warehousing footprint of 1.6 million square feet. The company distributes its products through 40,000 retail outlets in India and exports to 22 countries. It employs 3,400 people across its operations. Earlier in June 2023, Drools had raised $60 million in funding from private equity firm L Catterton at a valuation of $600 million. The round was one of the largest investments in the pet care industry in India. For the fiscal year ending in March 2024, Drools’ revenue from operations jumped 50% to Rs 714.90 crore from Rs 474.62 crore in FY23. The company however reported a net loss of Rs 14 crore in FY24 against Rs 27.65 crore profit in the previous fiscal year. Drools becomes the fourth startup to enter the unicorn club in 2025. Netradyne and Juspay reached the milestone in January and April, respectively, while Porter recently joined the list after raising $200 million in a Series E round at a valuation exceeding $1 billion.

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