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Enlog emerges as winner of ENTICE 2.0, receives grant from $500K pool

EntrackrEntrackr · 2d ago
Enlog emerges as winner of ENTICE 2.0, receives grant from $500K pool
Medial

Enlog has emerged as a winner of ENTICE 2.0, receiving a technical assistance grant from a $500K pool along with a pilot opportunity with JVVNL. The company said this provides a chance to demonstrate its innovation in live distribution networks at scale. India’s DISCOMs require digital twins of millions of behind-the-meter (BTM) appliances without deploying additional hardware. Enlog’s solution enables real-time intelligence to manage emerging energy loads. From over 160 applications, Enlog was shortlisted among 12 finalists at the bootcamp and, after two rounds of pitches to industry leaders, was selected for pilots. The company noted that the recognition validates its first-principles approach to solving IoT challenges by rethinking how smart meter data is transmitted for appliance-level segregation, thereby unlocking scalability beyond monitoring. The pilot also aligns with the vision of building the India energy stack, a digital backbone unifying data, intelligence, and action across the power sector at scale. Enlog’s full-stack energy intelligence platform combines patented edge IoT, AI trained on billions of data points, and a scalable architecture to deliver automated energy savings for businesses. Founded in 2019 by Bharath Rankawat and Jharna Saha, Enlog develops IoT- and AI-driven energy solutions that optimize electricity use and support sustainable practices for enterprises across India.

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Zomato receives shareholders' nod for new ESOP plan worth $458 Mn

EntrackrEntrackr · 1y ago
Zomato receives shareholders' nod for new ESOP plan worth $458 Mn
Medial

Food tech major Zomato has introduced a new ESOP plan worth $458 million for its employees. The board at Zomato has got the shareholder nod to grant 18,26,27,402 ESOP options under its new plan, bringing the total ESOP pool to 31,07,80,714 options, its regulatory filing accessed through the National Stock Exchange shows. As per Fintrackr’s estimates, the newly added ESOPs are worth Rs 3,800 crore or $458 million while the value of the total ESOP pool stands at Rs 6,609 crore or $796 million. Following the ESOP approval, Zomato also touched its all-time high share price of Rs 209.84 today. With this, the total market cap of the company has increased to Rs 1,84,060 crore or $22.17 billion. According to a separate disclosure, Zomtao has voluntarily withdrawn the application with the Reserve Bank of India for a certificate of registration for undertaking the business of an NBFC as the company does not intend to pursue the lending/ credit business anymore. Earlier this week, Zomato company received a GST demand notice of Rs 9.5 crore. This is the second GST notice for the Gurugram-based firm, following a penalty notice of Rs 184 crore in April this year. The company has shown robust growth in FY24. Zomato’s revenue from operations surged 71% year-on-year to Rs 12,114 crore in FY24 from Rs 7,079 crore in FY22. Moreover, the profits of the company stood at Rs 351 crore in FY24 as compared to a loss of Rs 971 crore in FY23.

Enlog elevates CTO Ayush Gupta as co-founder

EntrackrEntrackr · 8m ago
Enlog elevates CTO Ayush Gupta as co-founder
Medial

Deep-tech startup Enlog has elevated Ayush Gupta, its chief technology officer (CTO), to co-founder of the company. Ayush Gupta joined Enlog in 2023, bringing over five years of experience in technology and having previously served as Vice President of Technology at a hyper-local e-commerce startup. According to Enlog, Gupta’s expertise in building scalable tech ecosystems and developing self-managed, IoT-based energy optimization solutions has laid the foundation for Enlog’s growth and market leadership. Under his leadership, the company has built a robust infrastructure capable of scaling to 10 million IoT devices, handling billions of data logs, and delivering measurable energy efficiency benefits to its users. Enlog has recently awarded Rs 1 crore in ESOPs to its core tech team. As part of its growth journey, the startup is actively expanding its team across both tech and non-tech domains. The company has introduced this initiative to focus on attracting top talent to drive innovation and strengthen its position in the energy management space. Co-founded in 2019 by Bharath Rnkawat and Jharna Saha, Enlog specializes in IoT and AI-powered energy solutions that optimize electricity consumption and reduce carbon footprints. With over 19,000 MWh of electricity managed, 4,064 tons of CO2 emissions reduced, and a user base of over 20,000, Enlog aspires to reduce carbon emissions by one million tons by 2027. In November last year, Enlog raised Rs 1.75 crore led by Vinners.

Exclusive: Bluestone expands ESOP pool, COO Sudeep Nagar receives $11 Mn worth grant

EntrackrEntrackr · 2m ago
Exclusive: Bluestone expands ESOP pool, COO Sudeep Nagar receives $11 Mn worth grant
Medial

Exclusive: Bluestone expands ESOP pool, COO Sudeep Nagar receives $11 Mn worth grant Omnichannel jewellery retailer Bluestone has expanded its existing ESOP plan to $80 million by adding additional employee stock options for its employees. The board at Bluestone has passed a resolution for approval to add 42,43,312 employee stock options to its existing plan, bringing the total ESOP pool to 1,17,27,642 options, its regulatory filing accessed through the Registrar of Companies (RoC) shows. According to Entrackr’s estimates, the newly added ESOPs are worth around Rs 245 crore or around $29 million. Out of the newly added stock options, Rs 92.6 crore ($11 million) will be granted to the company’s Chief Operating Officer (COO), Sudeep Nagar. This addition brings the total value of Bluestone’s ESOP pool to Rs 678 crore or around $80 million. Notably, these valuations are based on the company's last funding round, where it raised around Rs 900 crore pre-IPO round led by Prosus, out of which Rs 300 crore is secondary. Ahead of Bluestone’s IPO, Global consumer internet group Prosus values the company at $950 million, just shy of unicorn status ahead of its IPO. Prosus has valued its stake in BlueStone at $42 million, as per its latest annual report. The stake, held through its fund MIH Investments One B.V., represents a 4.43% ownership in the jewellery brand. As per ET report, Bluestone is all set to join the unicorn status with secondary transactions worth Rs 300-350 crore by private wealth management arms of 360 One and Centrum Wealth. This will value the company at $1.2 billion. In December 2024, Bluestone filed its draft red herring prospectus (DRHP) with SEBI for an IPO, comprising a fresh issue of equity shares worth up to Rs 1,000 crore and an offer for sale (OFS) of up to 2.398 crore shares, allowing a full exit for Samma Capital, IvyCap Ventures, and Kalaari Capital. Founded in 2011, omnichannel jewellery brand BlueStone offers high-value gold and diamond jewellery, including rings, pendants, chains, and earrings, through its retail stores and online platform. As per its DRHP, the company operates over 203 stores across 86 cities. BlueStone has raised around $262 million across multiple funding rounds from investors such as Accel, Prosus, Peak XV Partners, 360 One, Kalaari Capital, and others, according to startup data intelligence platform TheKredible. In FY24, BlueStone’s revenue grew 64% year-on-year to Rs 1,266 crore, up from Rs 771 crore in FY23. The company also trimmed its losses by 15% during the same period, bringing them down to Rs 142 crore.

Google-backed fund selects 4 Indian organisations for AI-driven climate solutions

Economic TimesEconomic Times · 1y ago
Google-backed fund selects 4 Indian organisations for AI-driven climate solutions
Medial

Four Indian organizations have been chosen as recipients of grants from the APAC Sustainability Seed Fund 2.0, which is supported by a $5 million grant from Google.org. The fund, managed by AVPN, aims to support technology- and AI-driven solutions addressing environmental and social challenges. The Indian recipients include INREM Foundation, CRDF, WELL Labs, and MHT. These organizations will develop solutions such as AI-enabled water contamination data access, lake protection using machine learning and satellite imagery, village-level water security insights, and identifying urban heat islands. This initiative builds on the success of the previous APAC Sustainability Seed Fund 1.0 in India.

Pfizer to fund six startups through its INDovation program for healthcare

Economic TimesEconomic Times · 10m ago
Pfizer to fund six startups through its INDovation program for healthcare
Medial

Pfizer and NIPER-Ahmedabad, in collaboration with other organizations, have announced the winners of Pfizer's INDovation program for healthcare start-ups. After receiving over 200 applications, six start-ups were chosen based on their potential impact, technological innovation, value proposition, scalability, and future roadmap. Each winner will receive a grant of Rs 25 lakhs from Pfizer and incubation support from NIPER-Ahmedabad. The winning start-ups include Aarca Research, Babycue Pvt Ltd, Biolockey Healthworks Pvt Ltd, Brela Innovations Pvt Ltd, RNT Health Insights Pvt Ltd, and Utopic Tech Pvt Ltd. These start-ups will also receive funding and support for pre-clinical and clinical studies.

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