🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

Related News

Eternal eyes 100% inventory play for Blinkit to improve margins

EntrackrEntrackr · 7m ago
Eternal eyes 100% inventory play for Blinkit to improve margins
Medial

Eternal eyes 100% inventory play for Blinkit to improve margins Eternal Limited, the company formerly known as Zomato, is gearing up for a strategic shift in its quick commerce arm, Blinkit, by planning to own inventory directly—a move enabled by its recent transition to an Indian-owned and controlled company (IOCC), according to a shareholder letter released by the company. The move will strengthen its operations and improve margins as it faces increased competition from both established players and new entrants in the quick commerce space. Eternal estimates that adopting a 100% inventory model would require less than Rs 1,000 crore in working capital. This amount is only about 5% of Blinkit's expected Net Order Value (NOV) of Rs 22,000 crore for FY25. In response to a question on how a pure-play inventory model could be achieved with Rs 1,000 crore, Eternal’s CFO Akshant Goyal explained that in quick commerce, inventory moves quickly. As a result, the company expects that working capital investments, relative to the overall scale of the business, will remain relatively low. The plan to keep inventory for BlinkIt comes on the back of its aggressive expansion in Q4 FY25, where it added 294 new stores and over 1 million sq ft of warehouse space, pushing its total store count to 1,301. However, such rapid growth led to widening EBITDA losses for Blinkit, from Rs 103 crore in Q3 to Rs 178 crore in Q4 of the last fiscal year (FY25). Even as short-term losses rise, Eternal remains bullish on the long-term profitability of the quick commerce space. The company is not planning private labels for now, but hinted that inventory control could eventually nudge EBITDA margins beyond the 5-6% of NOV it currently targets.

Exclusive: CoinDCX co-founder partners with ISRO scientists to launch Astrobase, raises $10 Mn

EntrackrEntrackr · 5m ago
Exclusive: CoinDCX co-founder partners with ISRO scientists to launch Astrobase, raises $10 Mn
Medial

Exclusive: CoinDCX co-founder partners with ISRO scientists to launch Astrobase, raises $10 Mn The Bengaluru-based space tech company has raised over Rs 60 crore ($7 million) in its maiden funding round, led by venture firm BanyanCo, as per information sourced from the regulatory filings with MCA. CoinDCX co-founder Neeraj Khandelwal has partnered with senior ISRO scientists Devakumar Thammisetty, Pawan Kumar, and Prashant M to launch Astrobase, according to sources familiar with the matter. Astrobase aims to address the growing demand for satellite launches by building cost-efficient, high-payload launch vehicles. “The company is working on a methane oxygen full flow staged combustion engine designed to carry payloads ranging from 3 to 10 tonnes. It plans to offer three configurations of its launch vehicle: fully expendable, partially reusable and fully reusable, with a target launch cost of $300 per kilogram by 2034,” a person familiar with the matter said. As per sources, the company has secured an engine manufacturing facility in Bengaluru’s aerospace hub and is ready to begin production. “Astrobase is moving from research and development to manufacturing. It has completed engine and vehicle designs for an orbital-class launch system.” Entrackr estimates the startup’s valuation at approximately Rs 623 crore ($72 million) in this round. The company is preparing to raise additional capital, and its valuation will change accordingly. Following Entrackr’s story, Khandelwal clarified that the company has closed a $10 million seed round. He mentioned that the engine manufacturing facility is up and running, with 10 senior ISRO scientists on board. Over the past two years, spacetech startups are gaining momentum over the past few years. In 2024, 13 startups from the segment raised around $85 million in funding. In the ongoing calendar year, 10 such startups have announced their fundraise worth over $15 million. In 2025, the Indian government introduced a Rs 500 crore ($58 million) fund through IN-SPACe and approved a Rs 1,000 crore ($116 million) VC fund to support space-tech startups. The funds are intended to increase local development, reduce import reliance, and expand private sector participation in the space sector.

Agrileaf secures $2 Mn co-led by Capital-A and Samarsh Capital

EntrackrEntrackr · 12m ago
Agrileaf secures $2 Mn co-led by Capital-A and Samarsh Capital
Medial

Agrileaf, a manufacturer and exporter of biodegradable dinnerware, has secured Rs 16 crore (about $2 million) in growth funding co-led by Capital-A and Samarsh Capital. The round also witnessed participation from angel investors, including Shaji Devekar, Siddharth Bafna, the family office of Ved Prakash, Pritie Jain, Sumeet Bhalotia, Dhruv Taneja, and Chiranth Patil. The fresh funds will be utilized to expand its operations in existing markets across the US and Europe, build a consumer-facing brand in India, and enhance production capacity. Co-founded in 2019 by Avinash Rao and Athishay Jain, Agrileaf is an areca leaf tableware manufacturer and exporter, offering top-quality products aligned with eco-friendly values. The company integrates a robust supply chain of areca leaf collection with advanced robotics and AI-driven quality control to ensure high-quality, backyard-compostable products that meet both market and environmental needs. According to market research, the market for biodegradable packaging is expected to reach approximately $140.66 billion by 2029, with a CAGR of around 5.97% from 2024 to 2029. The Mangalore-based company provides a sustainable, high-strength alternative to plastic, paper, and bagasse plates. It intends to support local areca farmers through responsible sourcing and aims to foster a zero-waste, community-centered future with eco-friendly solutions available worldwide. The company targets producing up to 300,000 dinnerware products daily by the end of 2025 and has created over 1,000 jobs, supporting rural economic development. It competes with other players in this space, such as VerTerra Dinnerware, SM Areca Leaf Plate Eco-Friendly Products, and Vegware.

Licious reports Rs 685 Cr revenue in FY24; cuts losses by 44%

EntrackrEntrackr · 1y ago
Licious reports Rs 685 Cr revenue in FY24; cuts losses by 44%
Medial

D2C meat and seafood brand Licious has experienced sluggish growth over the past two fiscal years, with revenue hovering around Rs 700 crore. However, the firm has successfully reduced its losses by 44% in the last fiscal year (FY24). According to the company’s press release, Licious’s revenue declined by 9%, from Rs 746 crore in FY23 to Rs 685 crore in FY24. This modest decline was attributed to the closure of distribution channels like Dunzo and Swiggy Meatsore, as well as a winding down of exposure to modern trade and local stores. Licious reports serving 1.2 million customers each month through its app, which now drives 85% of its total business. The company’s flagship program, Infinity, accounts for 58% of its overall revenue. Despite the slight decrease in revenue, Licious implemented cost control measures that helped cut losses by 44%, bringing them down to Rs 294 crore in FY24 from Rs 524 crore in FY23. The company also anticipates achieving positive EBITDA in the current fiscal year. By the end of FY24, Licious laid off nearly 3% of its workforce citing “operational reset to sharpen the growth focus. The move impacted 80 employees. In an effort to enhance customer experience, Licious is piloting 30-minute deliveries in Gurugram as it shifts to a full-stack D2C model. Additionally, on Tuesday, the firm expanded its physical retail presence by acquiring Bengaluru-based offline retailer My Chicken and More, increasing its retail points of sale to 26. To date, the Bengaluru-based company has raised over $450 million. According to TheKredible, Mayfield India is the largest stakeholder in Licious with 14.69%, followed by Vertex Ventures, 3one4 Capital, Temasek, and others. Licious is the largest player in the D2C meat and seafood space, competing with companies like FreshToHome, Zapfresh, BBDaily, MeatRoot, and Easymeat. In October 2023, quick commerce platform Zepto entered the meat delivery market with its in-house brand, Relish. This vertical reportedly achieved an annual recurring revenue (ARR) of Rs 150 crore in just six months, with a projected revenue run rate of Rs 1,000 crore by March 2026.

Funding and acquisitions in Indian startup this week [27 May-01 Jun]

EntrackrEntrackr · 1y ago
Funding and acquisitions in Indian startup this week [27 May-01 Jun]
Medial

As many as 39 Indian startups raised around $387.23 million in funding this week. These deals count 13 growth-stage deals and 20 early-stage deals. Moreover, six early-stage startups kept their transaction details undisclosed. In the previous week, about 24 early and growth-stage startups cumulatively raised close to $444 million capital. [Growth-stage deals] Among the growth-stage deals, 13 startups raised $309.7 million in funding this week. Auto parts and powertrain controls manufacturing firm SEDEMAC led the list with its $100 million secondary and primary funding followed by B2B and retail outlets (D2R) firm in the construction material Infra.Market with $50 million, EV company Ather Energy with $34.5 million in debt and equity funding. Commercial electric vehicle manufacturer Euler Motors, building materials firm RDC Concrete, pharmaceutical product development company Orbicular Pharmaceutical, and B2B delivery and shared mobility startup Zypp Electric are next on the list among others. [Early-stage deals] Subsequently, 20 early-stage startups secured funding worth $77.53 million during the week. D2C sports apparel maker Technosport spearheaded the list followed by fast fashion omnichannel ethnic wear brand Libas, digital lending and card management platform Vegapay, Commercial EV distribution and financing platform Turno, and robot automation solutions provider DiFACTO among others. The list of early-stage startups also includes six startups that kept the funding amount undisclosed: Yali Aerospace, Solinas, TechEagle, Aprecomm, Devigere, and Kidbea. For more information, visit TheKredible. [City and segment-wise deals] In terms of the city-wise number of funding deals, Bengaluru-based startups led with 15 deals followed by Delhi-NCR, Mumbai, Hyderabad, Pune, Chennai, Jaipur, and Thanjavur. Segment-wise, e-commerce, fintech, and EV startups grabbed the top 3 spots with nine, six, and five deals respectively. This list was followed by foodtech, SaaS, agritech, cleantech, and, dronetech startups. [Series-wise deals] During the week, Seed funding deals led the list with 8 deals followed by 7 Series A and 6 Pre-Seed deals. Pre-Series A and Series B startups saw 5 and 3 deals, respectively while Debt, Series C, and Series B are next on the list among others. [Week-on-week funding trend] On a weekly basis, startup funding shrank nearly 13% to $387 million as compared to around $444 million raised during the previous week. The average funding in the last eight weeks stands at around $289 million with 28 deals per week. [Key hirings and departure] Among key hirings, Vikaram Agarwal has been appointed as COO by InCred, Paytm Insider appointed Varun Khare as COO, while Anil Mehta has been appointed as the Independent Director by Yubi (CredAvenue). Puneet Kumar also joined Nexus Venture Partners as a venture partner. Meanwhile, Cashaa Founder Kumar Gaurav stepped down as CEO and Paytm’s CHRO Swati Rustagi reportedly quit the company and is likely to join Adobe. [Fund launches] The week also witnessed seven fund launches. 360 ONE Asset introduced a Rs 4,000 crore Secondaries Fund to invest in late-stage startups, while Avendus launched a Rs 3,000 crore fund for similar investments in financial services, technology, and healthcare. Sorin Investments closed its maiden fund at Rs 1,350 crore, focusing on tech. RPSG Capital Ventures and Sauce VC raised Rs 550 crore and Rs 250 crore, respectively, for early-stage consumer ventures. Holani Consultants marked the first close of its maiden venture capital fund at Rs 184 crore. Additionally, the Massive Earth Foundation, in collaboration with UNEP, launched the fourth edition of the Low Carbon Earth Accelerator program. [M&A] Y Combinator-backed BNPL fintech startup BharatX has acquired Zenifi, a healthcare finance startup offering zero-cost and low-cost EMI solutions. Honasa Consumer Ltd, the parent company of brands like Mamaearth, the Derma Co, and BBLUNT, has acquired the assets of Thane-based skincare company CosmoGenesis Labs to enhance its R&D and manufacturing capabilities. Additionally, Times Network has acquired Digit.in from 9.9 Group to expand its digital publishing portfolio and footprint in the technology and gaming sectors. [ESOP buyback] Enterprise SaaS firm AiDash has launched its first Employee Stock Ownership Plan (ESOP) buyback program following its $58.5 million Series C funding round, bringing its total fundraising to $91.5 million. This buyback scheme targets full-time employees with over three years of tenure, allowing them to capitalize on the value of their vested shares. [Potential market moves] Atlys, an online visa application platform, is in early discussions to raise $15-18 million in a Series B round, a year after its Series A fundraise. Backers include Peak XV and others. Meanwhile, Bengaluru-based healthtech startup Medibuddy is raising $8.4 million in debt funding from investors like Innoven Capital and Alteria Capital. Additionally, Amazon is reportedly close to acquiring MX Player from Times Internet. This marks Amazon’s second attempt at acquiring the video streaming platform, with a term sheet already offered. Previous talks in 2023 fell through, but the current negotiations are in the late stages. Visit TheKredible to see series-wise deals along with amount breakup, complete details of fund launches, and more insights. [New launches] Flipkart-owned Shopsy forays into kids’ space Razorpay launches ‘Q-Zap’ to reduce billing time at offline stores BluSmart rolls out an app to help users locate nearby EV charging stations [Financial results this week] Vedantu posts Rs 153 Cr revenue in FY23; cuts losses by 46% Oxyzo posts Rs 903 Cr revenue and Rs 291 Cr PAT in FY24 Travel Boutique Online’s PAT crosses Rs 200 Cr in FY24 Oziva records flat growth under Hindustan Unilever in FY24 [News flash this week] Karnataka HC maintains a 5% service charge cap on app-based autos BharatPe and PhonePe settle all trademark disputes over the ‘Pe’ suffix Zomato revives lending biz, in talks with NBFCs for merchant lending Proptech firm Awfis’ stock list at a 14% premium PhonePe ventures into secured lending space, partners with banks, NBFCs [Conclusion] The weekly funding surged 85% to $444 million, driven mainly by Flipkart’s $350 million funding in its ongoing $1 billion fundraise. Additionally, the week saw the launch of five new funds: IVY Growth, Finvolve, ThinKuvate, Databricks Ventures, and Caret Capital. Awfis Space Solutions debuted on the exchanges on Thursday, listing at Rs 435 per share on NSE, a 13.6% premium over its issue price of Rs 383. Before the listing, the company’s shares had a grey market premium (GMP) of Rs 125. The issue received a strong response from investors, with an overall subscription of over 100 times. Zomato is in talks with several non-banking financial companies to offer working capital loans to its partner restaurants, marking a return to lending services. As an LSP (loan service provider), Zomato will facilitate loans from its partners to potential borrowers and manage the collection of repayments. Meanwhile, PhonePe has introduced secured lending products on its platform in collaboration with banks, NBFCs, and other fintech firms. Customers can access lending solutions in six major categories through the PhonePe app. The company has partnered with 15 NBFCs and fintechs for this initiative. Additionally, Classplus, an edtech SaaS startup based in Delhi NCR, has launched its first engineering college, Polaris School of Technology (PST), in Bengaluru. PST will offer a four-year BTech program focused on classroom learning and industry experience, providing students with access to top global tech companies for internships and exposure.

Funding and acquisitions in Indian startup this week [15 - 20 July]

EntrackrEntrackr · 1y ago
Funding and acquisitions in Indian startup this week [15 - 20 July]
Medial

During the week, as many as 35 Indian startups raised around $261.21 million in funding. These deals count 9 growth-stage deals and 22 early-stage deals while 4 early-stage startups kept their transaction details undisclosed. During the previous week, 22 early and growth-stage startups cumulatively raised more $116.26 million in funding. [Growth-stage deals] Among the growth-stage deals, 9 startups raised $168.63 million in funding this week. Home service marketplace Urban Company spearheaded with its $38 million secondary funding round. Education loan-focused NBFC Auxilo, fintech firm Blacksoil, and EV ride-hailing service provider BluSmart followed with $30 million, $24.8 million, and $24 million in funding, respectively. [Early-stage deals] Further, 22 early-stage startups secured funding worth $92.58 million during the week. gen-z focused fast fashion D2C brand Newme led the list followed by artificial intelligence startup UptimeAI, community-led mobility app Namma Yatri, NBFC Seeds Fincap, and multi-category biscuit manufacturer Nurture Well. Edtech platform focused on engineering education byteXL, EV bus startup FreshBus, and aquatech startup Boon also raised funding among others. For more information, visit TheKredible. [City and segment-wise deals] In terms of the city-wise number of funding deals, Bengaluru-based startups led with 12 deals followed by Delhi-NCR, Mumbai, Hyderabad, Ahmedabad, Chennai, and Jaipur among others. Segment-wise, fintech startups grabbed the top spot with nine deals. AI, E-commerce, Healthtech, and Automotive tech startups followed this list among others. [Series-wise deals] During the week, Seed funding deals led the list with 14 deals followed by 6 Series A, 4 debt, 3 pre-Series A deals, and 2 Series B deals. Angel, pre-Seed, pre-Series B, Secondary, Series C, and Series J are next on the list with one deal each. [Week-on-week funding trend] On a weekly basis, startup funding bounced back by nearly 125% to $261.21 million as compared to around $116 million raised during the previous week. The average funding in the last eight weeks stands at around $358 million with 29 deals per week. [Fund launches] PROMAFT Partners, led by industry veterans Raghav Bahl and Soham Avlani, has raised a significant Rs 1,000 crore to invest in startups. Yali Capital, targeting the deeptech space, has also launched a sizeable fund of Rs 810 crore. Additionally, real estate investment firm Altern Capital aims to raise Rs 250 crore through their first fund. Defence startup-focused Jamwant Ventures has secured its first round of funding for their angel fund. Excitel co-founder Vivek Raina’s incubator fund, Launchpad Kashmir, aims to support startups in Jammu & Kashmir. These developments highlight the growing investor interest in the Indian startup ecosystem. [ESOP buyback] In a move to incentivize employees, Swiggy, the food delivery giant, announced a $65 million ESOP liquidity program. This marks its fifth such program since 2018, allowing employees across the company to sell their stock options (ESOPs) in a secondary market. This program follows two consecutive events held in July 2022 and 2023. [Key hirings and departures] In key leadership moves, wealthtech startup Fisdom appointed Girish Venkat to head its wealth management business. Logistics unicorn Delhivery strengthened its operations by bringing Prashant Gazipur on board as a senior vice president. Additionally, Early-stage VC firm Orios Venture Partners bolstered its investment team with Madhav Tandan as a senior partner. In terms of departures, Bengaluru-based startup Simplilearn sees the departure of its chief product officer, Anand Narayanan, after an eight-year stint with the company. Meanwhile, Unacademy, another major edtech player, is experiencing its own leadership shift. Following the co-founder Hemesh Singh’s exit, Jagnoor Singh, COO of Unacademy’s offline centers, is also resigning. [M&A] Nazara Technologies, a gaming and sports media company, has fully acquired Paper Boat Apps, developer of the popular children’s learning app Kiddopia, for a total investment of Rs 300 crore. This follows their initial 50.91% stake acquisition in 2019. Meanwhile, Collective Artists Network, a talent management and influencer marketing firm, has bolstered its creator and content ecosystem by acquiring galleri5, an AI-powered platform, indicating a potential shift towards AI-driven strategies in the creator management space. [Potential deals] Moneyboxx, a lending platform, aims to raise Rs 271 crore ($32.4 Mn) through preferential share issuance and warrants. With the capital infusion, it plans to fuel the growth and expand its reach in rural India, specifically targeting micro-entrepreneurs for financial support. Visit TheKredible to see series-wise deals along with amount breakup, complete details of fund launches, and more insights. [Financial results this week] Paytm reports Rs 1,501.6 Cr revenue and Rs 840 Cr loss in Q1 FY25 Jio Financial Services reports flat growth in Q1 FY25 as interest income declines 43% [News flash this week] Kunal Bahl and Rohit Bansal book 200X return from Urban Company Moneyview set to turn unicorn in Series F round Google Maps cuts prices by 70% for developers after Ola Maps’ free offering Deepinder Goyal enters billionaire club; his holding in Zomato touches $1 Bn Nazara’s subsidiaries receive Rs 1,120 Cr GST notice Creditors may take over Byju’s as NCLT admits insolvency resolution Crypto exchange WazirX hit by cyber attack, $230 Mn stolen Trading app Investmint goes for liquidation process [Conclusion] The weekly funding bounced back by nearly 125% to $261.21 million. This week saw five startup-focused fund launches by VC firms: Promaft Partners, Jamwant Ventures, Alteren Capital, Yali Capital, and Launchpad Kashmir. This week’s startup news offered a mixed bag of stories. We saw some bright spots, like Titan Capital’s impressive returns on their investment in Urban Company and Moneyview’s potential unicorn status. Additionally, Google’s move to make its Maps platform more affordable for Indian developers is a positive step for the tech ecosystem. However, there were also challenges on display. Nazara Technologies’ hefty tax liability and Byju’s insolvency proceedings highlight the financial struggles some startups face. The cyberattack on WazirX raises concerns about security in the cryptocurrency space, while Investmint’s liquidation underscores the competitive nature of the startup landscape. Overall, the week’s news underscores the dynamic nature of the Indian startup scene. While there are opportunities for significant growth and returns, there are also substantial hurdles to overcome.

Funding and acquisitions in Indian startup this week [30 Sep - 05 Oct]

EntrackrEntrackr · 1y ago
Funding and acquisitions in Indian startup this week [30 Sep - 05 Oct]
Medial

During the week, 21 Indian startups raised around $92.63 million in funding. These deals count 4 growth-stage deals and 12 early-stage deals while 5 startups kept their transaction details undisclosed. Last week, 29 early and growth-stage startups cumulatively raised over $461 million in funding. [Growth-stage deals] Among the growth-stage deals, 4 startups raised $33.58 million in funding this week. Agriculture supply chain firm Waycool spearheaded a $12 million debt funding round. Fintech startup Basic Home Loan raised $10.6 million followed by D2C millet-based snack brand Troo Good and lending startup True Balance with $8.6 million and $2.38 million in funding, respectively. [Early-stage deals] Further, 12 early-stage startups secured funding worth $59.05 million during the week. Chemical manufacturing platform Mstack led the list followed by sports tech platform Str8bat, furniture retailer Furnishka, mental health startup LISSUN, and tech-enabled EV mobility platform ZEVO among others. Meanwhile, Digilogic Systems India (DSPL), Aikenist, SanchiConnect, Garuda Aerospace, and Sugar.fit also raked in funding but did not disclose the transaction details. For more information, visit TheKredible. [City and segment-wise deals] In terms of the city-wise number of funding deals, Bengaluru and Delhi-NCR-based startups co-led with 7 deals each followed by Mumbai, Hyderabad, and Chennai. Segment-wise, Healthtech startups are on the top spot with 5 deals. E-commerce, Fintech, Aerospace, Agritech, Chemicals, and Dronetech startups followed the list among others. [Series-wise deals] During the week, seed funding deals are on top, with 7 deals followed by 5 pre-Series A, 5 Series A, 2 Debt, and 2 Series B deals. [Week-on-week funding trend] On a weekly basis, startup funding dwindled 80% to $92.63 million as compared to around $461 million raised during the previous week. The average funding in the last eight weeks stands at around $395.36 million with 27 deals per week. [Fund launches] Singapore-based angel investment network, ThinKuvate has announced the first close of its India fund at Rs 25 crore. While Venture capital firm Trillion Dollar Ventures (TDV) launched its second fund with a total corpus of Rs 50 crore, doubling its corpus size from the first fund. The new fund aims to support early-stage tech startups in India. [Key hirings and departures] The startup ecosystem witnessed eight notable key hirings this week. Vishal Mehta joined Rediff.com as a Chairman and MD, MediBuddy hired Nijil George, Ferns N Petals onboarded Gaurav Sharma, and Secret Alchemist welcomed Samantha Prabhu, among others. Meanwhile, Indifi’s Co-founder Siddharth Mahanot and OLA Electric’s Secretary and compliance officer resigned. [Mergers and Acquisitions] This week, four notable acquisitions took place in the Indian startup ecosystem. Adda247 acquired PrepInsta, Pluckk purchased Upnourish, Capital IQ took over Karman Drones, and UST acquired Information Services Group’s automation unit. [Shutdown] Agritech startup Greenikk is shutting down operations due to funding challenges and adverse market conditions. Visit TheKredible to see series-wise deals along with amount breakup, complete details of fund launches, and more insights. [New launches and partnerships] Uber partners with Shadowfax to integrate two-wheeler fleet Swiggy launches 10-min food delivery service ‘Bolt’ PhonePe partners with Jar to offer daily savings in digital gold [Potential Deals] InCred Capital to raise $50 Mn led by family offices Semiconductor startup FermionIC Design to raise $6 Mn [Financial results this week] CRED nears Rs 2,500 Cr revenue in FY24; cuts operating losses by 41% D2C brand Minimalist posts Rs 350 Cr revenue in FY24, doubles profit Classplus revenue spikes 2X to Rs 260 Cr in FY24; cuts losses by 57% 10-year-old Josh Talks posts Rs 19 Cr revenue in FY24, cuts losses by 25% Navi’s FY24 operating profit falls 50% as loan write-offs surpass Rs 400 Cr Groww’s stock broking unit posts Rs 2,900 Cr revenue and Rs 298 Cr profit in FY24 [News flash this week] Upstox delivers 10x return to Ratan Tata following buyback Ola Electric’s two-wheeler market share falls to 27% in September UPI sets new record with more than 15 Bn transactions in Sept Titan Capital launches Indicorns index showcasing profitable startups BharatPe announces settlement with Ashneer Grover Invesco marks up Swiggy’s valuation to $13.3 Bn Mamaearth parent Honasa to appeal Dubai court ruling Peak XV Partners reduces fund size and fees Co-working space provider DevX to go public; files DRHP Swiggy gets the nod to increase IPO fresh issue size to Rs 5,000 Cr CarDekho planning a $500 Mn IPO next year Blackstone targets $10 Bn for India-focused New Asia Fund Good Capital Co-founder Rohan Malhotra passes away [Conclusion] After a healthy funding inflow in the past few weeks, the weekly funding slipped around 80% to $92.63 million this week, the lowest in the last 35 weeks. During 29 January to 3 February, the weekly funding shrank to $84.5 million. The week also saw two startup-focused fund launches namely ThinKuvate and Trillion Dollar Ventures. Honasa Consumer, the parent company of Mamaearth, is facing ongoing legal challenges in Dubai. A Dubai court has upheld a previous order to attach the company’s assets. Honasa has filed an appeal against this decision and continues to dispute claims made by its former distributor, RSM General Trading. Swiggy has received approval from its shareholders to increase the size of its IPO fresh issue from Rs 3,750 crore to Rs 5,000 crore. This will allow the foodtech company to raise a total of $1.4 billion through the IPO, at a likely valuation of $15 billion. Swiggy has also introduced a new 10-minute food delivery service called Bolt. The service focuses on delivering quick-to-prepare meals from selected restaurants within a 2-kilometer radius. Bolt is currently available in major cities in India and plans to expand further. Swiggy’s rival, Zomato, previously discontinued its 10-minute food delivery service. Venture capital firm Peak XV Partners has reduced the size of its $2.85 billion fund by 16%. The firm has also lowered management fees and carry on growth investments. Despite these changes, Peak XV remains optimistic about the Indian and Southeast Asian markets and expects strong performance from its portfolio. Blackstone, a leading private equity firm, is raising a new Asia-focused fund with a target of at least $10 billion. India will be the primary focus of the fund, with significant allocations also planned for Japan and Australia. The firm is currently marketing the fund and aims to close the first round of fundraising in January 2025.

Download the medial app to read full posts, comements and news.