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Bachatt bags ₹34 crore funding from Lightspeed, Info Edge Ventures

Inshorts · 3m ago

Bachatt bags ₹34 crore funding from Lightspeed, Info Edge Ventures

Fintech startup Bachatt has raised over ₹34 crore in a seed funding round co-led by Lightspeed and Info Edge Ventures. While Lightspeed infused ₹23 crore, $8 crore was infused by the Sanjeev Bikhchandani-led VC firm. The round saw Urban Company cofounder Abhiraj Bhal, L&T Finance Sunil Prabhune, OYO COO Abhinav Sinha and CSO Maninder Gulati join the startup table.

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Drug Discovery to Spacetech: Here Are Info Edge’s 18 Deeptech Startup Investments

OutlookIndia

OutlookIndia · 3m ago

Drug Discovery to Spacetech: Here Are Info Edge’s 18 Deeptech Startup Investments

Info Edge, an Indian company, has invested in 18 deep tech startups across various domains like spacetech, drug discovery, and robotics. These investments reflect Info Edge's focus on ventures with significant research and development, long gestation periods, and high impact potential. Despite challenges in funding timelines and commercialization, Info Edge remains committed to supporting deep tech from its balance sheet, aiming to bridge the gap between scientific breakthroughs and market readiness in India.

Pixxel bags additional $24 million funding from M&G catalyst

Inshorts · 7m ago

Pixxel bags additional $24 million funding from M&G catalyst

Pixxel has secured an additional $24 million (₹203 crore) in its Series B funding round. This latest investment boosts Pixxel's total Series B funding to $60 million. The round saw participation from new investors, including M&G Catalyst and Glade Brook Capital Partners, who joined existing backers Google, Radical Ventures, Lightspeed and others in the cap table.

Startup news and updates: Daily roundup (July 30, 2024)

YourStory

YourStory · 1y ago

Startup news and updates: Daily roundup (July 30, 2024)

Voice-first GenAI company Gnani.ai has secured INR 300m ($4m) in Series A funding from Info Edge Ventures. The capital will be used for sales growth and expanding its business globally. Gnani.ai boasts over 100 enterprise customers in India and the US and counts Samsung Ventures as an investor.

Info Edge’s notional loss from Rahul Yadav’s 4B Networks stands at Rs 532 crore

Money Control

Money Control · 1y ago

Info Edge’s notional loss from Rahul Yadav’s 4B Networks stands at Rs 532 crore

Info Edge, a technology company, has revealed a total loss of Rs 532 crore from its investment in proptech startup 4B Networks. Info Edge's cash infusion in the startup was Rs 288 crore, while the remaining amount represents a notional loss due to a higher valuation that the startup previously had. The write-down is based on factors such as excessive cash burn, liquidity issues, and funding uncertainty. Info Edge has initiated legal proceedings against Rahul Yadav, the founder of 4B Networks, for alleged financial irregularities and embezzlement of funds.

Exclusive: Decentro to kick off Series B round led by Info Edge

Entrackr

Entrackr · 2m ago

Exclusive: Decentro to kick off Series B round led by Info Edge

Exclusive: Decentro to kick off Series B round led by Info Edge Y-Combinator-backed fintech startup Decentro is set to raise Rs 26.3 crore (around $3 million) in its Series B round led by Info Edge, with participation from Stargazer Ventures and Infinyte Club Angel Fund. This funding comes nearly 2.5 years after the company raised $4.7 million in a round led by Rapyd Ventures, Leonis VC, and Uncorrelated Ventures, with participation from Kunal Shah (Founder and CEO of CRED), Lalit Keshre (Co-founder and CEO of Groww), and other angel investors. The Decentro’s board passed a resolution to approve the issue of 2 equity shares and 14,260 Series B CCPS at an issue price of Rs 18,442 each, to raise Rs 26.3 crore or $3 million, its regulatory filings accessed from the Registrar of Companies (RoC) show. Info Edge is set to lead the round with an investment of Rs 25 crore, while Stargazer Ventures and Infinyte Club Angel Fund will contribute Rs 1 crore and Rs 30 lakh, respectively. Founded in 2020, Decentro is an API platform that simplifies banking integrations for businesses, enabling them to quickly launch and scale financial products. It offers a full-stack solution for onboarding, account creation, payments, and other banking services, allowing companies to focus on their core offerings. This will be the first instance for the Singapore-based company to raise funding via an Indian entity. As per its consolidated financial statements filed with the Registrar of Companies (RoC), Decentro reported a 47% year-on-year increase in operating revenue to Rs 17.7 crore in FY24, up from Rs 12 crore in FY23. However, the company slipped into a loss of Rs 2.46 crore during the same period, after posting a profit in the previous fiscal.

Doubtful of markets’ reception of loss-making firms without visibility on profits: Sanjeev Bikhchandani

Economic Times

Economic Times · 1y ago

Doubtful of markets’ reception of loss-making firms without visibility on profits: Sanjeev Bikhchandani

Sanjeev Bikhchandani, co-founder of Info Edge, expressed doubt about the public markets' willingness to value loss-making companies unless there is a clear path to profitability in the near future. He noted that companies like Policybazaar and Zomato have seen their share prices rise alongside improvements in their bottom lines. Bikhchandani also mentioned that several startups are breaking even or close to it. He discussed the slower pace of investments by Info Edge Ventures and the preference for Indian listings among startups. Info Edge reported a quarterly profit of Rs 151.1 crore, with growth in its recruitment and real estate businesses.

NowPurchase, TechJockey, Bookmybai secure early-stage fundings

VCCircle

VCCircle · 10m ago

NowPurchase, TechJockey, Bookmybai secure early-stage fundings

NowPurchase, TechJockey, and Bookmybai have recently secured early-stage fundings. NowPurchase, a SaaS-enabled marketplace for metal manufacturers, raised $6 million in a funding round led by Info Edge Ventures. TechJockey.com, an online software marketplace, received a funding of Rs 7.40 crore with cricketer Rishabh Pant acquiring a 2% stake in the company. Bookmybai, a domestic help service provider, raised Rs 2 crore in a pre-Series A CCPS round led by Inflection Point Ventures. These fundings will support the expansion and growth of these respective companies.

Info Edge files FIR against Rahul Yadav over 4B Networks fraud

Economic Times

Economic Times · 8m ago

Info Edge files FIR against Rahul Yadav over 4B Networks fraud

Info Edge, a consumer internet group, has filed a complaint with the Mumbai police against Rahul Yadav and others for alleged fraudulent activities involving funds from 4B Networks. Yadav, the cofounder of Housing.com, was fired in 2015. Info Edge had invested INR 295 crore in Yadav's new startup, 4B Networks, in 2021-22. After the startup failed to disclose financial details, Info Edge appointed Deloitte for a forensic audit. When 4B Networks did not provide the necessary information, legal action was taken. The co-founder of Info Edge admitted that investing in 4B Networks was a mistake.

Naukri.com parent Info Edge to invest Rs 10Cr in subsidiary Zwayam

IndianStartupNews

IndianStartupNews · 1y ago

Naukri.com parent Info Edge to invest Rs 10Cr in subsidiary Zwayam

Info Edge, the parent company of Naukri.com, plans to invest Rs 10 crore in its subsidiary Zwayam to support its working capital needs. Zwayam, wholly owned by Info Edge, offers SaaS-based sourcing and screening recruitment solutions. This investment involves acquiring 1 million Compulsorily Convertible Debentures. Zwayam's revenue doubled from Rs 11.6 crore in FY22 to Rs 38.5 crore in FY23, accompanied by a net profit of Rs 2.55 crore.

InfoEdge sees blockbuster returns on early-stage bets in Zomato, Policybazaar

YourStory

YourStory · 3m ago

InfoEdge sees blockbuster returns on early-stage bets in Zomato, Policybazaar

Info Edge has reaped significant returns from its early investments in Zomato and Policybazaar, with their combined market cap exceeding Rs 2.5 lakh crore. The company's current portfolio is valued at Rs 36,855.40 crore, delivering a 36% gross internal rate of return. Info Edge's investment strategy spans four phases, including launching the Info Edge Venture Fund, and focuses on promising startups like BlueStone, TrueMeds, Geniemode, and InPrime, anticipating these to achieve notable growth in the future.

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