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EV-focused startup Log9 Materials announces ESOP buyback worth Rs 1.5 crore

IndianStartupNews

IndianStartupNews · 2y ago

EV-focused startup Log9 Materials announces ESOP buyback worth Rs 1.5 crore

Log9 Materials, an EV-focused startup in battery technology, has announced its annual ESOP buyback valued at Rs. 1.5 crore. This buyback will benefit 17 employees who have been instrumental in the company's success. Log9 Materials previously had a successful ESOP buyback of nearly Rs. 1 crore. The company plans to continue this practice in the future and has recently secured $40 million in Series B funding. Log9 Materials specializes in fast-charging batteries that offer higher performance and safety.

Related News

Log9 Materials Launches INR 1.5 Cr ESOP Buyback Plan to Reward Employees

Business Bytes

Business Bytes · 2y ago

Log9 Materials Launches INR 1.5 Cr ESOP Buyback Plan to Reward Employees

Indian tech company Log9 Materials has introduced an Employee Stock Ownership Plan (ESOP) buyback program worth INR 1.5 Crores to reward its employees. A total of 17 employees will benefit from the ESOP payouts, allowing them to share in the company's success. This move reflects the growing popularity of ESOP programs in the Indian startup ecosystem for attracting and retaining talented individuals while fostering company growth and innovation. The initiative demonstrates Log9 Materials' commitment to recognizing employees as crucial stakeholders in their journey.

EV startup Zypp Electric announces Rs 1.5Cr ESOP buyback

IndianStartupNews

IndianStartupNews · 2y ago

EV startup Zypp Electric announces Rs 1.5Cr ESOP buyback

EV-as-a-service platform Zypp Electric recently announced its first Employee Stock Ownership Plan (ESOP) buyback, allocating around Rs 1.5 Crore to 15 dedicated employees who have been associated with more than a year of service within the company.

Edtech Soonicorn Classplus Announces Second ESOP Buyback For Over 150 Employees

Inc42 · 1y ago

Edtech Soonicorn Classplus Announces Second ESOP Buyback For Over 150 Employees

Delhi NCR-based edtech startup, Classplus, has launched its second employee stock ownership plan (ESOP) buyback program, allowing over 150 employees to sell their vested shares. The exact amount dedicated to the buyback remains undisclosed. Classplus became the first edtech startup to announce a buyback this year. With 748 employees, over 20% of them are eligible for the program. In its first ESOP buyback, 30 employees participated, resulting in a worth of $1 million. ESOP allocations are expected to increase this year, with 55% of Indian startup founders relying on them to attract talent.

Innovaccer announces Rs 600 Cr ESOP buyback

Entrackr

Entrackr · 4d ago

Innovaccer announces Rs 600 Cr ESOP buyback

Innovaccer announces Rs 600 Cr ESOP buyback Healthtech company Innovaccer has completed an ESOP buyback worth Rs 600 crore, around $75 million, providing liquidity to current and former employees holding vested stock options. According to an Inc42 report, an undisclosed number of current and former employees holding restricted stock units benefited from the ESOP buyback. The buyback follows Innovaccer’s $275 million Series F funding round, which included both primary and secondary capital and saw participation from investors such as B Capital, Kaiser Permanente, and Generation Investment Management. Founded in 2014, Innovaccer operates a healthcare data and analytics platform that enables hospitals, health systems, and insurers to unify clinical and operational data. The company has built a strong presence in the US healthcare market and works closely with provider networks and payers. For the fiscal year ended March 2025, Innovaccer reported operating revenue of Rs 387.71 crore and a profit of Rs 36.1 crore. Over the past year, the company led by Abhinav Shashank also acquired two companies, Cured and Pharmacy Quality Solutions, to strengthen its capabilities.

Exclusive: NCLT Sends Log9 Into Insolvency After INR 6.7 Cr Default

Inc42 · 2m ago

Exclusive: NCLT Sends Log9 Into Insolvency After INR 6.7 Cr Default

The Bengaluru bench of the National Company Law Tribunal (NCLT) has admitted battery tech startup Log9 Materials and its subsidiary Log9 Mobility into insolvency. This development follows a plea by Mumbai-based Ghalla & Bhansali Securities, which had loaned money to both companies. Log9 Materials defaulted on over INR 3.33 crore, while Log9 Mobility defaulted on over INR 3.39 crore, leading to their insolvency proceedings.

XYXX announces ESOP buyback program

Entrackr

Entrackr · 1y ago

XYXX announces ESOP buyback program

Men-focused premium innerwear and lifestyle brand XYXX has announced its first Employee Stock Ownership Plan (ESOP) buyback. XYXX’s ESOP programme was introduced 4 years ago, and employees who have completed their tenure are eligible for the buyback. According to the firm, the eligible employees are allowed to liquidate at a 6X premium on the allotted price with zero strike price. XYXX’s ESOP buyback programme currently includes employees spanning from senior managers to heads of departments as well as executive leadership. The buyback comes within a year of XYXX’s $13.5 million Series C round led by Amazon Smbhav Venture Fund. XYXX claims to have pan-India presence with over 22,000 touchpoints through top Multi Brand Outlets (MBOs), a strong modern trade presence with Shoppers Stop, and Reliance Trends, amongst others as well as Exclusive Brand Outlets (EBOs) in multiple key cities. Its products are available on website (xyxxcrew.com) and available on e-commerce marketplaces including Amazon, Flipkart, Myntra and Ajio. On Monday, audio series platform Pocket FM announced its first ESOP buyback worth $8.3 million. As per data compiled by TheKredible, the total EOSP buyback/payout/liquidity stood at nearly $802 million in 2023. In 2021 and 2022, the buyback amount was recorded at $440 and $200 million respectively. In 2024, MyGate, Classplus and Meesho also completed their ESOP buyback scheme.

AppsForBharat announces first ESOP buyback worth Rs 2.1 Cr

YourStory

YourStory · 1y ago

AppsForBharat announces first ESOP buyback worth Rs 2.1 Cr

Devotional platform Sri Mandir's parent company, AppsForBharat, has announced its first Employee Stock Option Plan (ESOP) buyback worth Rs 2.1 crore. The buyback will allow 25 employees to cash out a portion of their vested stock options. The initiative, facilitated through a partnership with Infinyte Club, aims to reward and acknowledge the contributions of long-term team members. AppsForBharat recently raised $18 million in Series B funding for the expansion of Sri Mandir's operations and the development of new temples and services.

Flipkart announces new ESOP liquidity worth $50 Mn

Entrackr

Entrackr · 6m ago

Flipkart announces new ESOP liquidity worth $50 Mn

Flipkart announces new ESOP liquidity worth $50 Mn This announcement follows Flipkart’s record $700 million payout to employees in 2023, one of the largest ESOP buyback events in Indian startup history. Flipkart has announced a fresh ESOP (Employee Stock Option Plan) liquidity opportunity for its employees, according to an internal note from the company’s chief executive officer Kalyan Krishnamurthy. As per the note, eligible employees will be allowed to liquidate up to 5% of their vested ESOPs as of July 5, 2025, at a buyback price of $174.32 per option. Payouts will be made in August 2025 under the Flipkart Stock Option Plan 2012. An ET report estimates the size of the ESOP buyback at $50 million, with 7,000 to 7,500 employees expected to benefit from the liquidity program. Flipkart is currently valued at around $36 billion. Krishnamurthy also added that if key performance goals are met by the end of 2025, another 5% liquidity window could open in early 2026. A Flipkart spokesperson confirmed the development to Entrackr. This announcement follows Flipkart’s record $700 million payout to employees in 2023, one of the largest ESOP buyback events in Indian startup history. Media reports indicate the firm plans to launch its IPO with a valuation of $60-$70 billion. The company’s board has already approved the process to shift its holding structure from Singapore to India. In 2025, a clutch of startups including Darwinbox, Rapido, Univest, Deserve, and Even Healthcare have implemented ESOP buyback, liquidity, and payout programs worth around $67 million. In 2024, more than 20 startups implemented $200 million. According to startup data intelligence platform TheKredible, the ESOP buyback or liquidity amount stood at $802 million in 2023, $440 million in 2021, and $200 million in 2022.

Leverage Edu announces second ESOP buyback

Entrackr

Entrackr · 1y ago

Leverage Edu announces second ESOP buyback

Leverage.biz, which runs study abroad platform Leverage Edu, Fly.Finance and Fly Homes, today announced that it has completed its second ESOP buyback exercise. Over 50 employees of the company across functions were able to benefit from this exercise. However, the company did not disclose the amount of the stock buyback. Seven-year-old Leverage Edu provides full-stack services including counseling, application-admission support, and financing to students pursuing international education. It assists students from India, Nigeria and Nepal, among others. The company raised $40 million a mix of debt and equity led by Educational Testing Service (ETS) in July last year. It has raised around $70 million across rounds and was last valued at around $140 million. As per startup data intelligence platform TheKredible, Blume Ventures is the largest external stakeholder in Leverage Edu with 16.9% followed by Tomorrow Capital and DSG Consumers Partners. The company’s revenue from operations spiked 228% to Rs 69 crore in FY23 from Rs 21 crore in FY22 while its losses jumped 70% to Rs 103 crore in FY23 from Rs 47 crore in the previous year. The total EOSP buyback/payout/liquidity stood at nearly $802 million in 2023. In 2021 and 2022, the buyback amount was recorded at $440 and $200 million respectively. In 2024, Urban Company, MyGate, Classplus, Meesho, The Sleep Company, XYXX, and Pocket FM also completed their ESOP buyback scheme.

Fintech startup Perfios announces employee stock buyback worth $18.5 million

Economic Times

Economic Times · 2y ago

Fintech startup Perfios announces employee stock buyback worth $18.5 million

Bengaluru-based fintech startup Perfios has announced an employee stock ownership plan (ESOP) buyback worth INR 154 crore (approximately $18.5 million). The buyback will benefit 135 employees, with 62 of them becoming millionaires. The company had recently raised $229 million in a funding round led by Kedaara Capital. Perfios plans to double its revenue growth by March 2023 and expand its presence in the Middle East, North Africa, Southeast Asia, and North America. The company provides financial institutions with software technology for credit assessment, fraud monitoring, and other financial processes.

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