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Bebe Burp raises Rs 8 Cr led by Gruhas Collective Consumer Fund

EntrackrEntrackr · 11m ago
Bebe Burp raises Rs 8 Cr led by Gruhas Collective Consumer Fund
Medial

Baby food brand Bebe Burp has secured Rs 8 crore (nearly $1 million) in a pre Series A funding round led by venture capital firm Gruhas Collective Consumer Fund (GCCF). This fund was launched by Gruhas in collaboration with Collective Artists Network earlier this year. The Surat-based company had earlier raised $419K from LetsVenture and others back in 2022. The proceeds will be channeled towards market growth, advanced product development, marketing campaigns, hiring, talent acquisition, innovation & R&D, Bebe Burp said in a press release. Co-founded in 2018 by Shruti Tibrewal, Bharat Tibrewal, and Chirag Gupta, Bebe Burp weeds out the challenges of harmful chemicals and preservatives. It aims to introduce nutritious alternatives that provide easy, healthy solutions for kids, making healthy eating. The company prepares instant mixes, cookies, and snacks like multi-flavoured porridge mixes, 100% millet puffs, ragi cookies, organic jaggery powder, and more. According to market research, the Indian baby food market will reach around $109 billion by the end of 2027, growing at a CAGR of 6.1%. Bebe Burp plans to make foray into international markets such as the Middle East, Europe, and Southeast Asia and intends to establish a presence in over one lakh retail stores across India. The brand claims to have served more than 1,50,000 customers since inception. Bebe Burp may directly or indirectly compete with the other startups like The Moms Co, Babease Foods, Else Nutrition, Baby Destination, Little Charlie amongst others.

Infibeam Avenues to launch global agentic AI marketplace

EntrackrEntrackr · 2m ago
Infibeam Avenues to launch global agentic AI marketplace
Medial

Fintech platform Infibeam Avenues Ltd is preparing to launch a global marketplace focused on Agentic AI, according to PTI. The new platform, developed under its AI division Phronetic.AI, will allow users—ranging from enterprises to individual users—to build, buy, sell, and operate autonomous AI agents without coding. These AI agents are designed to perform various tasks across sectors such as finance, customer service, and logistics. The company aims to provide a no-code solution for task automation and workflow execution through this marketplace. Infibeam had previously acquired a 54.1% controlling stake in Rediff.com in 2023. The acquisition led to Infibeam founder Vishal Mehta being appointed chairman of Rediff. While initial plans included relaunching Rediff as a digital finance hub with services like RediffPay and RediffOne, the company has simultaneously been working on this Agentic AI platform. This move represents Infibeam’s re-entry into the marketplace space, with a focus on AI-driven applications. Vishal Mehta, an MIT and Cornell alumnus and former Amazon executive, is leading the initiative. Infibeam had earlier shifted its focus from e-commerce to fintech, with CCAvenue growing into one of India’s largest payment gateway platforms. The Agentic AI marketplace is expected to be launched soon.

Exclusive: Infibeam entering UPI payments with new app RediffPay

EntrackrEntrackr · 9m ago
Exclusive: Infibeam entering UPI payments with new app RediffPay
Medial

Infibeam Avenues Limited is planning to enter the unified payments interface (UPI) market with its new payment app, RediffPay, sources aware of the development told Entrackr. This move would position Infibeam Avenues among well-established competitors like PhonePe, Paytm, Google Pay, and MobiKwik in the UPI space. Last month, Infibeam Avenues acquired 54% stake in Rediff.com India, signaling plans to relaunch Rediff.com in its new avatar as a consumer-facing digital financial services aggregator. “Infibeam aims to extend beyond UPI payments with inclusion of insurance, lending, stock trading, and wealth management,” said a source requesting anonymity. In April 2024, Finance Minister Nirmala Sitharaman highlighted that India registered 131 billion UPI transactions worth Rs 200 trillion in FY24. According to a source, Infibeam plans to leverage Rediff’s established user base and brand recognition, combined with its own expertise in digital payments, to drive the growth of its UPI offering. For context, Rediff claims 55 million monthly visits and over 70 million registered email users. Last year, Infibeam acquired a 49% stake in Pirimid Technologies, a capital market trading software provider. The company is working on integrating this capability into its digital payments platform for its domestic and international clients, with RediffPay expected to play a key role in supporting this initiative, as per sources. “Unlike other UPI players who had to start from scratch, Rediff’s existing customer base of millions will give it a significant advantage, coupled with CCAvenue’s strong presence in B2B payments,” said another source. The source added that Rediff’s substantial customer base is expected to provide the app with a ready user base. This foray will also mark Infibeam’s first major foray into the B2C segment, with a focus on consumer payments. Through RediffPay, the company will offer UPI services alongside other financial solutions, including credit on UPI and bill payments. Queries sent to Infibeam and Rediff didn’t elicit any responses till this story went to the press. Infibeam is also developing comprehensive payment technology focused on enhanced transaction security, which could give Rediffpay an edge over competitors. This aligns with Infibeam’s investment in AI through Phronetic.AI. In January, Infibeam roped in Rajesh Kumar SA as the chief executive officer (CEO) of the artificial intelligence business. Currently, PhonePe controls 48% market share by volume in UPI followed by Google Pay and Paytm with 37.3% and 7.21% shares, respectively. While CRED emerged as the fourth largest player in terms of UPI transactions, several new players such as Flipkart, NAVI and BharatPe have also entered the consumer facing payments market.

Infibeam Avenues acquires majority stake in Rediff.com

EntrackrEntrackr · 11m ago
Infibeam Avenues acquires majority stake in Rediff.com
Medial

Fintech company Infibeam Avenues has acquired 54% stake in Rediff.com India Ltd. This internally funded acquisition will align Infibeam Avenues to the beginning of its consumer facing digital financial service as an aggregator backed by a mainstream news, cloud based enterprise email storage, and collaboration platform. According to Infibeam Avenues, the majority stake will signify a step towards amplifying the company’s products & services, and the company expects to witness double-fold revenue growth with its entry into the financial sector as an aggregator in coming quarters. Infibeam will harness the strengths of Rediff.com, along with its organic traction among its news audiences which has more than 5,000 corporate email clients and amplifies its business growth across its product and service offerings in both domestic and international markets. Launched in 1996 by Ajit Balakrishnan, Rediff.com provides diverse services including cloud based enterprise email storage, content distribution and related commerce services offering a broad digital platform. It claims to have a substantial user base & data assets and ranks amongst the top 1,000 sites globally in traffic with more than 55 million monthly visitors, providing valuable insights into user behavior, preferences, and spending patterns. The company’s user base offers cross-selling financial products using artificial intelligence such as loans, insurance, and investment products. Infibeam Avenues provides digital payment gateway (CCAvenue), enterprise software platforms, and AI solutions to various businesses and government entities. It also offers a digital banking suite for corporates and SMEs, money transfer solutions for banks and businesses, and correspondence banking services for unbanked individuals.

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