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BIS conducts raid at FirstCry warehouse in Bengaluru

EntrackrEntrackr · 6m ago
BIS conducts raid at FirstCry warehouse in Bengaluru
Medial

BIS conducts raid at FirstCry warehouse in Bengaluru Brainbees Solutions Limited, the parent company of FirstCry, said on Monday that the Bureau of Indian Standards (BIS) carried out a surprise search and seizure at one of its Bengaluru warehouses. According to a filing with the stock exchanges, the operation took place on May 26, 2025, culminating in the seizure of products worth approximately Rs 90 lakh. The BIS alleged non-compliance with hallmarking requirements under Section 14(6) of the BIS Act, 2016, a serious charge that could lead to further legal proceedings. The Pune-based company, which runs one of India’s biggest online stores for baby and kids' products, said the raid did not affect its daily operations. It added that it is taking legal advice and believes the seized products follow BIS rules. FirstCry has stressed that it follows strong corporate and regulatory rules. However, the incident highlights how authorities like the BIS are becoming more watchful about product safety and certification. In November last year, the company was investigated by the GST department in Mumbai. The company also shared its quarterly results on Monday, reporting an 18% year-on-year rise in revenue to Rs 1,930 crore for Q4FY25. However, its losses grew by 74% to Rs 75 crore during the same period. BrainBees debuted on the stock exchange at Rs 446 and is now trading at 355.95 on May 27 (11:42 AM), bringing its total market capitalization to Rs 18,557 crore (approximately $2.18 billion).

Fragaria Fruits raises $2 Mn in seed round led by WEH Ventures

EntrackrEntrackr · 1m ago
Fragaria Fruits raises $2 Mn in seed round led by WEH Ventures
Medial

Fragaria Fruits raises $2 Mn in seed round led by WEH Ventures Farming company Fragaria Fruits has raised $2 million in a seed funding round led by WEH Ventures, along with participation from Rainmatter, Spiral Ventures, and angel investors such as Sashi Kumar. The startup had previously raised Rs 1.5 crore in a pre-seed funding round. The fresh funds will be utilized to scale its operations in Bengaluru, expand its premium fruit portfolio to include blueberries and raspberries, and provide a year-round supply of high-quality, sustainable produce to the Indian market, Fragaria said in a press release. Co-founded in 2024 by Harish Varadharajan, Timothy Chad Van Niekerk, and Damian López-Salazar, Fragaria Fruits aspires to address a critical gap in India’s fruit industry: the lack of consistently high-quality, fresh fruit available year-round. It aims to redefine the fruit-eating experience for Indian consumers by delivering premium, sustainably grown produce using world-class farming techniques. According to the Chennai-based startup, its flagship brand, Oh! Fruits, offers European strawberries grown in Chennai using advanced vertical farming technology, which are twice as sweet as conventional Indian varieties, pesticide-free, and have a shelf life up to three times longer than typical market options. The company’s commitment to sustainability is reflected in its water recycling systems, solar power integration, and efforts to reduce the environmental footprint of farming while maintaining affordability. By using Controlled Environmental Agriculture (CEA) and vertical farming, Fragaria has built a sustainable and scalable model to grow premium strawberries year-round. It plans to expand production in Bengaluru, increasing daily output from 2–3 kg to 120–150 kg. The startup doesn't have any local brands to compete with for fruits, but there are limited imported fruit brands in India, such as Driscoll’s (berries), Zespri (kiwi), and Rockit (apples).

Performance nutrition brand Neulife raises $1 Mn in seed round

EntrackrEntrackr · 1m ago
Performance nutrition brand Neulife raises $1 Mn in seed round
Medial

Neulife, a Mumbai-based performance nutrition company, has raised $1 million in seed funding co-led by Subhkam Ventures and Singularity Ventures, with participation from Sunicon Ventures, Cosma Ventures, and select HNIs. This is the company’s first external funding round since its founding. The proceeds will be used to develop new products, expand clinical research and trials, and scale the company’s protein product portfolio. Neulife also plans to use part of the capital to accelerate its global expansion and strengthen R&D capabilities. Founded in 2014 by Samit Gupta, Neulife operates as an R&D-led performance nutrition brand. It launched its D2C business in 2022 and focuses on developing scientifically validated, metabolically efficient proteins using its patented Ketofuel MCT technology. Neulife’s core products include Pro Standard Whey, launched in 2023, and Super Isolate, launched in 2024. Both products are designed to offer over 30% higher protein absorption and efficiency compared to conventional whey or plant proteins. Its R&D unit has filed five patents, with two granted and three pending. Neulife aims to capture around 15% market share in India’s premium protein segment by 2028. It is also planning to raise an additional $3 million by 2026-end to support expansion and new product development. Neulife’s products are available across its website and key online marketplaces, targeting professional athletes and fitness consumers seeking science-based performance nutrition.

Groww widens lead over Zerodha in active users; Dhan, INDmoney surge

EntrackrEntrackr · 9m ago
Groww widens lead over Zerodha in active users; Dhan, INDmoney surge
Medial

News All Stories Groww widens lead over Zerodha in active users; Dhan, INDmoney surge Despite its dominant position, Groww's month-on-month (MoM) growth slowed slightly as the platform added only 76,135 new users in January, reflecting a 0.58% increase from December. India’s stockbroking landscape continues to see major shifts as Groww maintains its lead with 13.23 million active users, according to the latest data from January 2025. The platform now holds a 26.66% market share among the stock broking apps. Despite its dominant position, Groww's month-on-month (MoM) growth slowed slightly as the platform added only 76,135 new users in January, reflecting a 0.58% increase from December. As per media reports, the Lalit Keshre-led company is targeting a public listing in 10-12 months, with a valuation goal between $6 billion to $8 billion. Meanwhile, Zerodha, once the market leader in India’s brokerage industry, saw a decline in its user base. The discount broker ended January with 8.08 million active clients, down from 8.12 million in December. This slowdown highlights increasing competition in the sector, with users migrating to newer platforms offering more features and incentives. Angel One, the third-largest broker, also maintained strong numbers, recording 7.77 million active clients with 15.65% market share. However, its M-o-M growth remained modest at 0.18%. Other major brokers, including Upstox and ICICIdirect, continue to hold their positions but with mixed performance. While Ratan Tata-backed Upstox reported 2.86 million active users, ICICIdirect reached 1.95 million clients with a 0.13% growth. Among traditional players, HDFC Securities showed a 2.82% MoM growth whereas Kotak Securities had a marginal increase of 0.08%. Emerging broker Dhan saw one of the highest growth rates. The firm expanded its user base by 3% to 960,668 active clients. Similarly, INDmoney posted a 3.50% MoM growth. While some legacy players such as Sharekhan, Paytm Money, and 5paisa registered a decline in users, newer entrants like Share.Market grew by 6.09%, signaling a shift in investor preferences. When it comes to revenue, Zerodha is the largest player among new-age stockbroking apps, with Rs 9,372 crore in revenue and Rs 5,496 crore in profits in FY24. Groww's revenue surged to Rs 3,145 crore in FY24, while Upstox reported Rs 1,311 crore in revenue with a Rs 190 crore profit. Groww incurred losses due to a one-time tax payment for shifting its domicile.

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