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VoltUp, NTT Developers, Dressfolk raise funding; MapmyIndia bets on SimDaaS
VCCircle
·
6m ago
Medial
VoltUp, NTT Developers, and Dressfolk have recently secured funding to expand their operations, while MapmyIndia has acquired a stake in SimDaaS to bolster its portfolio. VoltUp raised $8 million to enhance its battery-swapping services. NTT Developers obtained Rs 15 crore to boost its construction projects. Dressfolk received undisclosed funding to support its handloom clothing business. Meanwhile, MapmyIndia invested in SimDaaS, specializing in autonomous vehicle solutions, enhancing its market position.
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Startup news and updates: Daily roundup (January 27, 2025)
YourStory
·
6m ago
Medial
YourStory's daily roundup features an interview with Freshworks CTO Murali Swaminathan discussing AI-driven growth, particularly with Freddy AI's success. Mana Mandlekar's inspiring story highlights her achievements in education and sports, and her efforts in empowering rural girls in India. Swiggy announced a significant ESOP share allotment. VoltUp and Dressfolk secured funding to expand their respective services. Zaggle inaugurated a new Hyderabad office, and FlexiLoans expanded its leadership team with two key appointments.
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VoltUp raises $8 Mn in seed funding round
Entrackr
·
6m ago
Medial
VoltUp, a mobility-as-a-service (MaaS) platform and battery-swapping startup, has raised $8 million (Rs 67 crore) in a seed funding round, comprising equity and debt, which was led by EM Impact Capital. The Mumbai-based company had previously raised $10 million in the pre-seed round, bringing the total fund raised to $18 million with participation from prominent Family Office, HDFC Bank, cKers, Grip Invest and GetVantage. Founded in 2019 by Siddharth Kabra, VoltUp is a battery-swapping platform that is designed for electric 2-wheelers and 3-wheelers. Operating in 14 cities, VoltUp’s technology-first approach integrates AI and data analytics to optimize station locations, monitor battery performance in real-time, and predict user demand, offering a safer, more efficient, and time-saving alternative to traditional charging. With a core focus on safety, health, and efficiency (SHE), VoltUp claims to deliver a more sustainable mobility experience, making densely populated cities smarter and more connected. Through its Mobility-as-a-Service (MaaS) network, the startup empowers delivery agents, gig workers, and small businesses with reliable electric 2-wheelers powered by proprietary swappable battery technology. VoltUp plans to accelerate its MaaS offerings, integrating seamlessly with multiple electric vehicle platforms for two- and three-wheelers. It claims that its revenue has grown by over 4 times in the last 12 months and plans to deploy 1,000 new battery-swapping stations across 20 urban centres, supporting a growing customer base while promoting EV adoption and reducing range anxiety. Over the next two years, VoltUp aspires to invest in assets worth over $85 million, including swapping stations, batteries, and expanding the MaaS platform leading to additional job creation and bolstering India’s transition to sustainable mobility.
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IPO-bound Knowledge Realty Trust bets on high GCC demand, eyes acquisitions
Livemint
·
9d ago
Medial
Knowledge Realty Trust (KRT), an IPO-bound real estate investment trust, is set to launch its offering on August 5, aiming to raise ₹4,800 crore. Sponsored by Sattva Developers and BREP Asia SG L&T Holding, KRT will become Asia's second-largest Reit, with a gross asset value of ₹62,000 crore. With 46.3 million sq ft in office spaces across six Indian cities, the company targets acquisitions amid high global capability centre demand. The IPO's price band is ₹95-100 per unit.
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MapMyIndia accuses Ola Electric of copying data; sends legal notice
Entrackr
·
1y ago
Medial
CE Info Systems, the parent company of MapMyIndia, has sent a legal notice to Ola Electric for allegedly copying the former’s data as the Bhavish Aggarwal-led firm launched its own mapping service in India. In the legal notice, MapMyIndia claimed that Ola Electric breached the license agreement. In 2022, Ola Electric onboarded MapMyIndia to offer navigation services for its S1 Pro electric scooter. As per MapMyIndia, Ola was prohibited from co-mingling the licensed product with another similar competing product and indulging in any reverse engineering or making any attempt to extract/ copy the source code from any API of the licensed product or any related software. Ola Maps cached, saved our data which is a violation of the licensing agreement signed in 2021, asserts MapMyIndia in the notice. The Delhi-based firm also added that it will initiate appropriate legal action, both civil as well as criminal, against Ola Electric. Entrackr has reviewed the notice and reached out to Ola and MapMyIndia for comments. Forbes India reported the development first. Earlier this month, the Bengaluru-based firm launched Ola Maps as an alternative to Google Maps. The firm also shifted its operations to its in-house mapping service by transitioning from Google Maps. As per Aggarwal, this measure is expected to save Rs 100 crore a year his company. In response to Ola Maps’ free offerings, Google also slashed the pricing of Google Maps platform for developers in India by as much as 70%. The tech giant also said that it will give a 90% discount to developers working with the Open Network for Digital Commerce (ONDC). MapMyIndia was listed on the stock exchange in December 2021. The company reported a 35% surge in its net profit to Rs 38.2 crore in the last quarter of FY24 with an operating revenue of Rs 106 crore. Ola Electric is also set for the stock market debut on August 2.
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Eternal Capital and Mamaearth’s Ghazal Alagh back Dressfolk
Entrackr
·
6m ago
Medial
Dressfolk, a handloom clothing brand, has secured a fresh round of undisclosed funding led by Eternal Capital, along with D2C founders Ghazal Alagh (founder, Mamaearth) and Dhruv Koli (founder, Boba Bhai), with participation from Nobody Ventures and Eagle Wings Ventures. The round also saw participation from 3 Peaks Ventures joined the round with existing investors All In Capital, Sidhant Keshwani (of Libas) and Vidur Kataria (of Master Chow). The proceeds will be used to enable it to rapidly expand its offerings beyond sarees and build a broader portfolio of contemporary Indian wear. Earlier in October 2023, the brand had raised Rs 3.3 crore in its seed round led by All-In Capital and others. Founded by Nitin Mehrotra in 2017, Dressfolk focuses on empowering local artisans and sustainable fashion. Having grown close to 200% in FY24, Dressfolk claims to have an AOV (average order value) of over Rs 7,000. Currently, it collaborates with a network of over 800 weavers and 120 artisans across six states. Besides its website, the brand has scaled its distribution through leading marketplaces such as Aza Fashions, Nykaa, and Myntra, while also hosting pop-ups across India.
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IIT Bombay's tech incubator platform mulls raising $12 mn foor deeptech bets
VCCircle
·
8m ago
Medial
The Society for Innovation & Entrepreneurship (SINE), an incubator at IIT Bombay, plans to establish a $12 million fund to support deeptech start-ups and ventures in areas of national importance. The fund will focus on sectors such as science, biotech, space, and defence to drive innovation. SINE will seek support from IIT Bombay alumni to raise the capital for the fund, which aims to build on the incubator's 20-year track record of supporting start-ups. SINE has partnerships with various government ministries and offers resources like workspaces, labs, and access to funding.
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A Long Road For Ola Maps: Can Bhavish Aggarwal Dethrone Google Maps, MapmyIndia?
Inc42
·
1y ago
Medial
Ola founder and CEO Bhavish Aggarwal is keen on spinning off Ola Maps as a separate entity, with hopes of creating another unicorn. Ola had announced the launch of Ola Maps for developers, signaling a move away from Google Maps. Sources suggest that Ola is aiming to build a mapping platform that can compete with Google, Apple, and MapmyIndia. However, building a comprehensive mapping platform is a complex task, requiring significant resources and maintenance. Ola Maps aims to become a super app, incorporating various verticals and services.
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Beams Fintech Fund bets on PE-backed lender Infinity Fincorp
VCCircle
·
4m ago
Medial
Beams Fintech Fund has invested in Infinity Fincorp Solutions Pvt Ltd as part of the company’s extended Series A funding round, which totals $40 million. This investment follows a previous $35 million raise led by Jungle Ventures, Archerman Capital, and Magnifico. Infinity Fincorp, supported by PE firm True North, offers loans to underserved micro-entrepreneurs and plans to use the new funds to expand its loan book and branch presence across eight Indian states.
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MapMyIndia posts Rs 122 Cr revenue in Q1 FY26, profit grows 28%
Entrackr
·
1d ago
Medial
CE Info Systems, the parent company of MapMyIndia, has announced its financial results for the first quarter of FY26. The company reported a year-on-year revenue growth of over 21% compared to Q1 FY25. MapMyIndia’s revenue from operations increased to Rs 122 crore in Q1 FY26 from Rs 101 crore in Q1 FY25, according to its consolidated quarterly report sourced from the National Stock Exchange (NSE). On a quarter-on-quarter basis, MapMyIndia’s operating revenue fell 15% to Rs 122 crore in Q1 FY26 from Rs 144 crore in Q4 FY25. Income from digital map data, GPS navigation, location-based services, and IoT was the primary source of revenue for MapMyIndia, accounting for 93% of the total collection. This revenue source increased by 23% to Rs 114 crore in Q1 FY26. However, income from the sale of its devices generated Rs 8 crore in the quarter ending June 2025. The cost of IoT devices, employee benefits, and outsourced technical services were the major cost elements, pushing the total cost of the firm to Rs 73 crore in Q1 FY26, up from Rs 64 crore in Q1 FY25. With the increase in scale, MapMyIndia recorded a 28% increase in its profit to Rs 46 crore during Q1 FY26, compared to Rs 36 crore in the first quarter of the previous fiscal year. The company’s EBITDA stood at Rs 68 crore for the quarter. In Q1 FY26, MapMyIndia invested Rs 25 Cr to raise its stake in IoT subsidiary Gtropy Systems from 75.98% to 96%, reinforcing its focus on fleet tech and telematics. It also invested Rs 25 Cr in Zepto, acquiring a 0.049% stake to strengthen its presence in the fast-growing quick commerce space. At the end of the day on 7th Aug 2025, MapMyIndia closed at Rs 1,759.9 per share, with a market capitalization of Rs 10,040 crore ($1.09 billion).
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360 ONE eyes bets on Walko, Kapiva in $30-40 million funding talks
Livemint
·
1m ago
Medial
360 ONE Asset is in talks to invest $25-40 million in Indian consumer startups, including Walko Foods, maker of NIC Ice Creams, and ayurvedic brand Kapiva. The funding rounds may involve existing investors, with Kapiva aiming to raise $40-50 million, potentially including a secondary component for early investor exits. The move comes as 360 ONE ramps up its sector-focused funds amid increased fundraising activity in the Indian consumer sector.
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