AskWiki

Centre Directed ZEE5 To Remove Diljit Dosanjh-Starrer Satluj Under IT Rules

noreply@blogger.com (Unknown) — Tue, 07 Jul 2026 07:24:19 +0000

A day after Diljit Dosanjh-starrer Satluj was taken down from streaming platform ZEE5, it emerged that the Centre had asked the OTT platform to remove the film, citing security concerns and obligations under the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021.

The film was taken down just two days after its release on the OTT platform. According to a Hindustan Times report, the takedown order was issued under Section 69A of the Information Technology Act, read with Part III of the IT Rules, 2021.

Meanwhile, the Ministry of Information and Broadcasting (MIB) also constituted a high-level inter-departmental committee yesterday to examine the film’s content.

Citing officials, the report said that the committee is empowered to examine complaints related to digital content and recommend further action to the government.

The Honey Trehan-directed film, earlier titled Punjab ’95, was released uncut on ZEE5 on July 3 (Friday) after remaining unreleased for more than three years. However, the film was removed from the platform by the evening of July 5 (Sunday).

In a statement posted on social media, ZEE5 said, “In light of the current developments, Satluj will be unavailable in India until further notice.”

In a subsequent post, the platform added, “We are doing our bit to bring Satluj back. Please do yours — don’t support piracy. We remain committed to exploring every possible avenue to bring Satluj back to you.”

According to officials, the makers of the film had applied for a clearance from the Central Board of Film Certification (CBFC) in 2022 under the original title Punjab ’95. However, they did not accept the 127 cuts suggested by the censor board, delaying its theatrical release.

“They kept sitting on the suggested cuts and eventually released the movie quietly on OTT with a new title. OTT does not come under the CBFC’s jurisdiction. When the matter came to the government’s notice, Zee was asked to take it (the film) down,” a government official was quoted as saying by PTI.

“The direction was given due to security concerns. The OTT platform was asked to follow the obligations under the intermediary guidelines. If they want to release the film in theatres and on OTT, they should follow the laid-down norms,” the official added.

The film is based on the life of Punjab human rights activist Jaswant Singh Khalra, who exposed alleged extra-judicial killings and enforced disappearances by the Punjab Police during the militancy era in the 1990s.

The makers of the film had also challenged the CBFC’s objections before the Bombay High Court in 2023 but later withdrew the petition. Eventually, the film was released directly on ZEE5 under the title Satluj, with only the title changed and none of the 127 cuts implemented.

While OTT platforms are not regulated by the CBFC, they are governed by the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021.

Section 69A of the Information Technology Act empowers the government to block or remove online content on grounds including the sovereignty and integrity of India, defence, national security and the maintenance of public order.

Part III of the IT Rules extends this framework to publishers of online curated content and digital news, allowing the government to issue such directions to streaming platforms.

Officials also noted that the Code of Ethics under the IT Rules requires OTT platforms to avoid publishing content prohibited by law, classify content based on age suitability, and exercise due caution while publishing content that could affect India’s sovereignty and integrity, threaten state security, harm friendly relations with foreign countries, or incite violence or disturb public order.

The post Centre Directed ZEE5 To Remove Diljit Dosanjh-Starrer Satluj Under IT Rules appeared first on Inc42 Media.

https://ift.tt/5gOrw9E

Cult.fit Files Draft Papers For IPO With ₹950 Cr Fresh Issue

noreply@blogger.com (Unknown) — Tue, 07 Jul 2026 05:24:31 +0000

Fitness unicorn Cult.fit has filed its draft red herring prospectus (DRHP) to raise over ₹950 Cr through its IPO. The public issue will comprise a fresh issue of shares worth up to ₹950 Cr and an offer for sale of up to 17.86 Cr shares.

Temasek Holdings, via MacRitchie Investments, Schroders Capital, German fitness operator LifeFit Group, Accel, Tata Digital and cofounder Mukesh Bansal are among the shareholders who plan to offload shares via the OFS.

Last month, it was reported that the Eternal-backed gym franchise operator was looking to raise ₹3,500 Cr to ₹4,000 Cr from the public issue at a valuation of about $2 Bn.

Cult.fit operates a chain of gyms and fitness centres and offers online classes for physical and mental wellbeing. It operated 708 fitness centres across India and had more than 9.87 Lakh paid members as of March 31, 2026.

The company also earns revenue from sale of active lifestyle and fitness products such as fitness equipment, recovery products like massagers, fitness accessories, as well as activewear products such as apparel and footwear.

Notably, the cofounders do not hold executive positions at the startup anymore, with Cult.fit being helmed by CEO Naresh Krishnaswamy.

In FY26, it posted an operating revenue of ₹1,720.6 Cr and a net loss of ₹251. Cr.

(The story will be updated soon)

The post Cult.fit Files Draft Papers For IPO With ₹950 Cr Fresh Issue appeared first on Inc42 Media.

https://ift.tt/Fj6ydlv

NoBroker’s Profit Push, Klydo Halts Ops & More

noreply@blogger.com (Unknown) — Tue, 07 Jul 2026 03:24:42 +0000

NoBroker Rewrites Playbook In Search Of Profits

After a decade, the proptech unicorn is shifting from a pure listings engine to a home-buying marketplace and a multi-vertical consumer ecosystem. So, can ancillary services finally deliver profitability for NoBroker?

Ditching The Freemium Model: For a long time, NoBroker offered free access to nearly 90% of its users. But it is now rejigging its monetisation model and focusing more on high-margin property resales and real estate launches. With this, the platform is moving to replace traditional real estate channel partners and capture lucrative broker commissions.

The Fintech Extension: Financial services have become a key monetisation layer, accounting for over 22% of its revenue in FY26. NoBroker’s home loan aggregation model matches buyers with banks and NBFCs, handles documentation, and earns referral fees from lenders. The logic is straightforward: leverage verified leads from its rental platform to dramatically lower user acquisition costs and then offer loans to these homebuyers.

The Services Push: NoBroker is also widening its claws into services such as registration, rental agreements, home improvement, moving, packing, interiors and consumer beauty (with newly-launched Zivora). These offerings are designed to keep users inside the ecosystem longer and generate repeat revenue from the same home journey.

The Profit Dilemma: While the opportunity is large, NoBroker’s economics still remain uncertain. It hasn’t filed audited disclosures since FY24, when it reported a ₹411 Cr loss. On top of this, services are operationally intensive and often carry thin margins, while fintech revenues depend on keeping users from leaking out of the funnel. The unicorn also faces a wider set of rivals now, from 99acres and MagicBricks to Urban Company and Livspace.

Despite its stated 15-month timeline to achieve profitability, can NoBroker turn adjacent services into a durable profit engine? Let’s find out…

From The Editor’s Desk

Klydo Pauses Ops

Less than a year after its launch, the fashion-focused quick commerce startup is winding up its consumer business. It now plans to pivot its business around a “sharper product vision”.
Founded in 2025, Klydo offered deliveries of fashion, footwear, accessories and gifting products within 15 to 30 minutes in Bengaluru. It has raised $1.3 Mn in funding so far.
The development comes as a slew of vertical quick commerce players like Blip and Zing have shut shop in the past year due to high inventory requirements, low sell-through rates, persistent cash burn and elusive profitability in the space.

Graph AI Eyes $14 Mn

The pharmaceutical-focused AI startup is in talks to raise about ₹133 Cr in its Series A round, which will likely be led by US-based Insights Partners. Although discussions are still underway, the round will also see participation from other existing backers.
Founded in 2024, Graph AI offers an AI-native platform to automate adverse drug event monitoring and regulatory submissions. This comes eight months after the startup raised $3 Mn in a seed round led by Bessemer Venture Partners.
The talks come as AI has emerged as the flavour of the season, and is attracting healthy investor interest. Overall, Indian AI startups funding surged over 4X YoY to $676 Mn during the first six months of 2026.

RentoMojo’s IPO Gets Nod

The furniture and appliance rental startup has received the markets regulator’s nod to float its public issue. The approval comes over three months after it filed its draft IPO papers.
As per its DRHP, the proposed issue will comprise a fresh issue of shares worth up to ₹150 Cr and an OFS component of up to 2.84 Cr shares. The nod comes even as the startup is embroiled in a legal dispute with its cofounder Ajay Nain over the listing.
Founded in 2014, RentoMojo offers subscription-based rentals of furniture, appliances and home essentials across 22 Indian cities. On the financial front, the startup reported a profit of ₹61.4 Cr on an operating revenue of ₹176.6 Cr in H1 FY26.

Cyber Fraud At Capillary Arm

The SaaS company has said that one of its “recently acquired step-down subsidiaries” was hit by a cyber-enabled banking fraud last week, leading to a loss of €3 Mn (about ₹32.7 Cr).
The funds were allegedly transferred to an unauthorised third-party bank account using advanced deepfake methods including cloning, signature forging, social engineering to impersonate the company’s senior management.
While it claims to have recovered €450K, Capillary said that it has also traced bank accounts suspected to be connected to the fraud. It has also taken legal measures, and is also evaluating the extent of insurance coverage and recoverability.

Flipkart’s ESOP Buyback Scheme

The ecommerce major has announced its latest ESOP liquidity event, the second one in the past year. Under this, eligible employees will be able to sell up to 5% of their outstanding options vested over the past three years.
The Walmart-owned decacorn has fixed the liquidity price at ₹713.4 per option, with payouts scheduled for August 2026. This follows Flipkart announcing a $50 Mn ESOP buyback programme.
The liquidity event comes as the startup looks to retain talent as it expands across new verticals and scales its quick commerce vertical. It was previously also exploring a $2.5 Bn fundraise in the run up to its IPO, which has now been deferred to at least 2028.

Inc42 Markets

Inc42 Startup Spotlight

How IINDEPRO Is Powering Indigenous Drones

India’s drone tech boom has so far largely focused on building UAVs. Yet, the ecosystem still lacks domestic control over propulsion systems, 90% of which are imported. IINDEPRO is trying to fix this gap with Made-in-India drone motors.

The Indigenous Stack: Founded in 2023, IINDEPRO focuses on the core hardware inside UAVs, especially high-performance BLDC motors and propulsion systems. The Rajkot-based startup is also developing axial-flux motor systems designed to improve efficiency, durability, and flight endurance.

A Broad Portfolio: The startup sells five motor series, with prices ranging from ₹3,000 to ₹25,000. It also manufactures electronic speed controllers, and claims to have built a portfolio of 18 SKUs and nearly 400 products so far. This breadth suggests a deliberate push to become a serious components supplier, rather than a niche vendor.

Aiming For The Skies: IINDEPRO claims that components are used across FPV drones, surveillance platforms, VTOL aircrafts, agricultural drones and defence-oriented systems, giving it exposure to both commercial and strategic use cases. With the homegrown drone tech sector projected to become a $3.2 Bn market by 2030, can IINDEPRO become India’s drone industry’s backbone?

Infographic Of The Day

India’s biggest giants have snapped up many D2C brands, from BigBasket to Minimalist, to bolster their portfolios and skip building from scratch. Here’s the great Indian D2C buyout, mapped in one infographic…

The post NoBroker’s Profit Push, Klydo Halts Ops & More appeared first on Inc42 Media.

https://ift.tt/arEIADv

Info Edge To Acquire Remaining 45% Stake In Coding Ninjas For ₹40 Cr

noreply@blogger.com (Unknown) — Mon, 06 Jul 2026 20:24:05 +0000

Sanjeev Bikhchandani-led internet giant Info Edge is acquiring the remaining 45.36% stake in upskilling platform Coding Ninjas for ₹39.9 Cr in an all-cash deal.

In a filing with the exchanges, Info Edge said that its board approved a proposal to acquire 74,741 shares in the startup from its founders at ₹5,340.23 apiece. Post the transaction, the Naukri parent will hold 100% stake in Coding Ninjas via its subsidiary Startup Investments (Holding) Ltd.

Coding Ninjas cofounders will continue to be employed by Info Edge and will receive “certain salary and performance incentive” during their tenure.

The deal is still subject to fulfilment of certain customary conditions, and is expected to be completed within 45 days. The upskilling platform will become a wholly-owned subsidiary of info Edge after the completion of the transaction.

Meanwhile, Info Edge said that the transaction will be executed in multiple tranches. While 25% (₹9.98 Cr) of the total amount, will be disbursed on the closing of the share price agreement, the remaining 75% (₹29.9 Cr) will be paid in three equal tranches between 2027 and 2029.

Elaborating on its thesis behind the buyout, Info Edge said that the transaction will leverage business synergies between its classified platform Naukri and the upskilling platform. As part of this, Naukri will tap into the startup to build mini-AI courses for its users.

The Sanjeev Bikhchandani-led company also said that the deal will unlock growth and profitability improvements for Coding Ninjas.

This comes six years after Info Edge first invested $5.2 Mn in the edtech startup during its Series A round in 2020. Two years later in 2022, the Naukri parent infused an additional ₹135.4 Cr in the platform, via a mix of primary and secondary deals, to increase its stake to 51% from 26% earlier. It subsequently again raised its ownership in the startup through follow-on transactions.

Founded in 2016 by Ankur Singla, Kannu Mittal and Dhawal Parate, Coding Ninjas is an edtech platform that offers coding bootcamps and certification courses in subjects like data science, software development, AI and other emerging technologies.

As per Info Edge’s latest filings, Coding Ninjas reported a net loss of ₹13.4 Cr in FY26. The startup’s turnover stood at ₹97.4 Cr in FY26, flat from ₹97.4 Cr in FY25 and up from ₹67.15 Cr in FY24.

Separately, Info Edge’s board also approved an additional commitment of up to ₹180 Cr in B8 Fund I, a Category II AIF managed by its subsidiary Smartweb Internet Services. The fresh proposed infusion is over and above the ₹250 Cr commitment approved earlier this year.

Founded in 1995 by Bikhchandani, Info Edge manages online job portal Naukri.com, matrimony portal Jeevansathi.com, real estate marketplace 99acres.com and edtech platform Shiksha. It also invests in homegrown startups, and counts the likes of names such as Eternal and PB Fintech in its portfolio.

Last month, the company said that it has so far invested ₹4,900 Cr in 135 startups. Its portfolio is valued at ₹41,300 Cr, translating into a 8.4X multiple and gross IRR of around 33%. It has also invested ₹1,003 Cr across 54 AI and deeptech startups between 2020 until March 2026 .

On the financial front, Info Edge’s net profit jumped 35% to ₹1,762.8 Cr in FY26 from ₹1,309.9 Cr in the previous fiscal year. Meanwhile, revenue increased 15% YoY to ₹3,284.7 Cr during the fiscal under review.

The post Info Edge To Acquire Remaining 45% Stake In Coding Ninjas For ₹40 Cr appeared first on Inc42 Media.

https://ift.tt/vc9m3ba

Next Bharat Ventures Launches ₹2,000 Cr Second Impact Fund

noreply@blogger.com (Unknown) — Mon, 06 Jul 2026 08:24:17 +0000

Japan-based Suzuki Motor’s Next Bharat Ventures has launched its second impact investment fund with a corpus of ₹2,000 Cr for Indian startups.

The fund will focus on early and growth stage startups and will have an average ticket size of $500K to $1 Mn (about ₹4.8 Cr to ₹9.6 Cr), significantly higher than the ₹1 Cr to ₹5 Cr it disbursed from the first fund.

The new fund is expected to start making investments in the next month, with a target to make 10-12 deals per year over the next four years. Notably, half of the fund’s corpus will be allocated to a fund-of-funds strategy, investing as a limited partner in high-performing VC firms, allowing the fund to hedge the risks associated with its impact investments.

The first fund of Next Bharat Ventures invested capital as an LP in funds of VC firms like 3one4 Capital, Sparrow Capital, Northpoint, among others.

Notably, Next Bharat Ventures is wholly owned and anchored by Suzuki.

The second fund will back ventures in sectors ranging from from rural-focused healthcare, rural mobility, financial services and productivity to agritech, cleantech and retail tech startups, founder and CEO Vipul Jindal Nath told Inc42. This would also include backing micro-entrepreneurs, impact-focused AI startups and livelihood-creation offerings.

“The idea is to find entrepreneurs who are truly passionate about creating quality of life in India’s
rural informal economy because that’s where the next leg of the country’s growth will come from. It’s also one of the most overlooked segments,” Nath said.

Next Bharat Ventures will look to invest in startups that have an established product-market fit and are revenue generating. Nath said that the fund has a 15-year life, and he expects exits to come through SME IPOs once startups have established a strong revenue base. It will also make follow-on investments in existing portfolio startups through both funds.

Next Bharat Ventures launched its first fund in 2024 with a corpus of ₹340 Cr. It has made 20 investments from the fund so far, including in E-bik, MeMeraki, Atypical Advantage, among others.

Nath added that 80% of the startups from the firm’s first fund are already EBITDA positive, with many of them piloting their offerings in Japan through the fund’s mentorship programmes. It also runs a residency programme in Bengaluru for startups that are not yet ready for capital but have a promising business idea.

The post Next Bharat Ventures Launches ₹2,000 Cr Second Impact Fund appeared first on Inc42 Media.

https://ift.tt/bI6Y1sJ

Navi Plans To File For IPO By Fiscal-End, In Talks For Equity Funding

noreply@blogger.com (Unknown) — Mon, 06 Jul 2026 07:24:06 +0000

Fintech major Navi is looking to file the DRHP for its initial public offering (IPO) by the March quarter of the ongoing financial year.

An ET report, citing sources, said the IPO is likely to comprise both a fresh issue and an offer-for-sale component. However, the split between the two is yet to be decided.

Prior to the IPO, Navi is said to be in talks to raise a fresh equity round. Prosus is likely to lead the round, which would mark the maiden external fund infusion in the lending platform.

The report said that there has been some pushback from Prosus, with the investor willing to invest at a valuation of ₹13,000 Cr (around $1.4 Bn).

It was reported earlier this year that Navi was looking to raise around $250 Mn to $300 Mn (₹2,400-₹2,800 Cr) from Prosus and Accel Growth Fund at a valuation of $1.8 Bn to $2 Bn (around ₹17,000 Cr to ₹19,000 Cr).

Queries sent to Navi remained unanswered till the time of publication. The story will be updated on receiving a response.

Founded in 2018 by Flipkart cofounder Sachin Bansal, Navi is a fintech startup offering a suite of products, including credit, insurance, mutual funds, and UPI payments. The startup offers home loans, personal loans, and loans against property through its own NBFC and partners. The Navi Group includes various subsidiaries such as Navi Finserv, Navi General Insurance and Navi AMC.

Notably, this would be the second attempt by the startup to go public. In March 2022, it filed its DRHP for a ₹3,350 Cr IPO. It received SEBI approval for the issue in September 2022 but didn’t move forward with the IPO due to weak tech valuations at the time.

In April 2025, Bansal announced that the startup will most likely list on the bourses in FY26. Notably, he stepped down from the post of the CEO in February last year amid a leadership shakeup at the firm.

On the financial front, the consolidated net profit of Navi’s NBFC arm plunged 46% YoY to ₹93.3 Cr in FY26 from ₹172.2 Cr in the previous year. Operating revenue for the year increased 17% to ₹2,691.5 Cr from ₹2,294.2 Cr in FY25.

The post Navi Plans To File For IPO By Fiscal-End, In Talks For Equity Funding appeared first on Inc42 Media.

https://ift.tt/WwfMuAS

The GPU Hunger Games, E3W’s Safety Crisis & More

noreply@blogger.com (Unknown) — Mon, 06 Jul 2026 03:24:31 +0000

India’s AI Boom Runs Into A Compute Crunch

The way India buys AI compute power is being rewritten. Amid geopolitical tensions and downstream supply chain cracks, cloud providers are scrambling for next-generation AI chips. But as semiconductors become a strategic resource, who really gets the compute?

Sourcing Squeeze: Experts believe that the worst of the GPU shortage has eased, but demand is still outrunning supply. This friction is impacting the hardware that buyers can actually secure. As chipmakers focus on newer architectures, older-generation chips are becoming relatively easier to source.

But the procurement of newer GPUs remains constrained. This has resulted in slow delivery cycles, forcing cloud platforms to make early reservations and coordinate directly with OEMs.

The Downstream Drag: The bottlenecks have also moved downstream. Cloud platforms are facing severe constraints when it comes to components like memory, networking, and power infrastructure. Then, geopolitics has made the market more unequal. Export controls, concentrated semiconductor manufacturing and the dominance of a few hyperscalers have created a tiered system in which strategic buyers are prioritised, while smaller players wait longer for delivery.

The Strategy Pivot: To buffer against supply disruptions, cloud computing players are treating compute infrastructure as a strategic utility. Providers are moving to long-term demand forecasting, reserving fleet capacity years in advance and blending legacy hardware with new incoming GPUs to manage workloads.

Doing More With Less: The resource scarcity is also changing consumer behaviour on the ground. AI startups are increasingly scheduling training to off-peak windows, inference is becoming the main workload and software optimisation is turning into a competitive moat. Engineering teams are also deploying hybrid models, multi-cloud sourcing and workload routing to keep only the most compute-heavy tasks on premium chips.

As the country’s AI ambitions try to keep pace with compute deficit, how is India’s GPU market being rewired? Let’s find out…

From The Editor’s Desk

The EV Battery Jammer Saga

Last week, the Centre directed Google and Apple to remove at least seven generic battery management system apps from their app stores. The action followed public disruption caused by users exploiting weak local access controls to remotely disable EVs.
While researchers had documented these identical authentication bypasses on platforms like GitHub several years ago, manufacturing pipelines continued to distribute the white-labeled components without updated access-control protocols.
The firmware vulnerabilities directly threaten India’s unorganised electric three-wheeler ecosystem. An estimated 20 Lakh e-rickshaws are currently on the road, with only about 50% formally registered.

Weekly Startup Funding Tanks

Indian startups cumulatively raised $104.6 Mn across 21 deals last week, marking a steep 91% decline from the $1.1 Bn raised via 16 deals in the prior week. The Indus Valley and Incuzpace took the biggest cheques home at $17 Mn and $16 Mn, respectively.
Ecommerce topped the deal count and funding charts, commanding $29.6 Mn across four transactions. Meanwhile, the AI segment also logged four deals, bagging $2 Mn in total capital.
Seed-stage startups captured $11.1 Mn across nine deals, down 69% week-on-week from the prior week’s volume. Institutional heavyweights like Accel and Bajaj Finserv Ventures emerged as most active investors last week, backing one startup each.

A Bullish Week For Startup Stocks

Driven by positive brokerage commentaries and strong fundamentals, 39 out of the 57 listed startups under Inc42’s coverage gained in the range of 0.03% to nearly 20%. The remaining 18 stocks declined between 0.01% to close to 9%.
With Turtlemint expanding the listed startup pool to 58, the cumulative market capitalisation of the new-age tech stocks climbed to $139.29 Bn last week, up from $135.92 Bn the preceding week.
Investors will closely monitor FPI flows, crude oil prices, and developments around global interest rates in the coming week. Domestic macroeconomic indicators and geopolitical developments in West Asia will also remain key triggers.

Telegram Under Scrutiny Again

The messaging app has now received another notice from the Centre over alleged dissemination of pirated films and OTT content. The IT ministry has directed the platform to submit an Action Taken Report within 15 days on the matter.
The ministry has also sought details regarding the platform’s grievance redressal mechanism for producers, OTT networks and law enforcement agencies. It has also warned of legal action in case pirated content continues to be available on the app.
This follows MeitY recently temporarily blocking Telegram over the alleged use of the platform for selling fake access to NEET exam papers, spreading misinformation and fabricating “paper leak” evidence.

Tracking Startups’ FY26 Show

Of the 44 new-age tech companies that have released their FY26 financials, 33 reported profits, totalling ₹9,346.5 Cr. The remaining 11 startups posted a cumulative net loss of ₹14,356.5 Cr, highlighting that unit economics remain a work in progress.
However, these 44 startups cumulatively generated ₹2.25 Lakh Cr in operating revenue in FY26, marking a sharp 52% expansion from ₹1.48 Lakh Cr in FY25.
While Groww and Info Edge together contributed the biggest chunk to the startup profit pool at 3,846 Cr, Swiggy and Zepto alone accounted for 70% (₹10,059 Cr) of the total loss incurred by the startups that have released their FY26 numbers so far.

Inc42 Markets

Inc42 Startup Spotlight

How Gimi Michi Is Bringing Affordable Korean Food To India

Despite the rise of Korean pop culture across India, access to authentic Korean food has remained out of reach for many. Most offerings are confined to expensive, imported brands or premium stores, leaving a big gap for mainstream consumers. Gimi Michi wants to change this.

Democratising K-Food: Founded in 2024, Gimi Michi is building a dedicated Korean FMCG brand designed specifically for the Indian masses. By partnering directly with trusted manufacturers to develop local production pipelines, the startup bypasses costly import logistics to deliver authentic flavours at accessible consumer price points.

A Tailored Portfolio: The brand currently operates with a diverse portfolio of five instant ramen variations, including Crazy Cheesy, Korean Kimchi, Hot Chicken, and others. To appeal to experiential Gen Z and Gen Alpha buyers, Gimi Michi also offers curated experiential boxes packed with themed add-ons like chopsticks, stickers, and a dedicated bowl.

Growing Steadily: Tapping into quick commerce platforms like Zepto and Flipkart Minutes, the startup claims to have clocked an annualised revenue run rate of ₹16.8 Cr in FY26 while sustaining a rapid 60% month-on-month growth velocity. With the broader Indian instant ramen market projected to exceed a $1 Bn over the next decade, can Gimi Michi establish itself as a homegrown powerhouse for Korean flavours?

Infographic Of The Day

Everyone’s talking about Kunal Shah joining Meta. But before becoming WhatsApp’s global head, he built one of India’s most influential angel portfolios and backed 309 startups across sectors. Here is all about it…

The post The GPU Hunger Games, E3W’s Safety Crisis & More appeared first on Inc42 Media.

https://ift.tt/z2JCQsR

Why MusicWiki Is Becoming a Popular Alternative to Traditional Music Streaming Apps

noreply@blogger.com (Unknown) — Sat, 04 Jul 2026 16:48:55 +0000

Music streaming has become a major part of daily life, but many users are increasingly frustrated by advertisements, premium restrictions, background playback limitations, and heavy mobile applications. This is where MusicWiki is building a unique space for itself as a lightweight and advertisement-free music discovery platform.

MusicWiki is not just another music app. It is a browser-based music discovery experience focused on simplicity, speed, and curated listening. Designed as a Progressive Web App (PWA), MusicWiki allows users to instantly access trending songs and playlists without downloading large applications or dealing with constant subscription interruptions.

One of the key reasons MusicWiki is gaining attention is its focus on music discovery rather than algorithm overload. Users can explore trending Hindi songs, Tamil playlists, Malayalam hits, LoFi collections, workout playlists, emotional soundtracks, and viral social media songs in a clean and organized format.

Unlike many traditional streaming apps, MusicWiki emphasizes a clutter-free experience. There are no overwhelming menus, unnecessary recommendations, or distracting advertisements covering the interface. The platform is built for users who simply want to search, discover, and enjoy music.

MusicWiki also performs extremely well on mobile devices. Since it is a lightweight web app, pages load quickly and navigation feels smooth even on slower internet connections. Users can add the app directly to their mobile home screen and enjoy a near-native app experience without visiting any app store.

Another interesting aspect of MusicWiki is its community-oriented playlist ecosystem. Users can create playlists, discover public playlists shared by others, and explore curated music collections based on

moods, genres, languages, and trends.

Some reasons why users are exploring MusicWiki as an alternative to traditional music apps include:

• Advertisement-free music experience
• Lightweight browser-based streaming
• No app installation required
• Curated trending playlists
• Mobile-friendly PWA design
• Regional Indian music discovery
• Public playlist sharing
• Faster and cleaner user experience

As the demand for lightweight entertainment platforms continues to grow, MusicWiki is positioning itself as a modern music discovery solution for users who value speed, simplicity, and uninterrupted listening.

Visit MusicWiki:
https://musicwikiapp.blogspot.com/

New-Age Tech Stocks Rally On Improving Investor Sentiment; WeWork, ixigo Lead Gains

noreply@blogger.com (Unknown) — Sat, 04 Jul 2026 15:24:36 +0000

New-age tech stocks surged this week, driven by improving investor sentiment. Thirty nine out of the 57 new-age tech companies under Inc42’s coverage gained in a range of 0.03% to close to 20% this week. The rally was broad-based across segments, with 11 companies – WeWork India, Ather Energy, Kissht, RateGain, Honasa Consumer, Delhivery, Aye Finance, Amagi, Aequs, Nykaa and Shadowfax – hitting fresh 52-week highs over the past five trading sessions.

Buoyed by positive brokerage commentaries, WeWork India and ixigo led the gains.

PhysicsWallah, Groww, and Wakefit were among the other companies that ended the week in the green.

Meanwhile, 18 new-age tech stocks ended the week in the red, declining in a range of 0.01% to close to 9%. SME-listed Yudiz was the biggest loser, with its shares slumping 8.72% to end the week at ₹25.65.

It is pertinent to highlight that only Swiggy touched a fresh new low during the week.

After hitting a low of ₹235.85 on June 30 (Tuesday), the stock gained in the next three trading sessions. Swiggy ended the week in the green, rising 3.1% from last June 26 close to end at ₹248.15.

Insurtech company Turtlemint became the latest addition to our new-age tech stocks coverage after its shares made a muted debut on the bourses this week. After listing at a 10% discount to the issue price on June 29 (Monday), the stock gained 1.73% to end the week at ₹138.55.

With the addition, the cumulative market cap of 58 new-age tech companies stood at $139.29 Bn at the end of the week as against the market cap of $135.92 Bn of 57 such companies a week ago.

Now, let’s take a look at some of the key developments at the new-age tech companies this week.

Key Updates Of The Week

IPO Momentum Returns: After the IPO lull of the past few months, a number of new-age tech companies seem to be ready to hit the public markets. While Turtlemint made its public market debut, Fibe and OYO parent PRISM filed their draft IPO papers this week. SEBI also cleared fintech unicorn Moneyview’s public issue.

Paytm Gets Key International Licence: The fintech major secured a payment institution licence for its step-down Luxembourg-based subsidiary, Paytm Europe Payments S.A. (Paytm Europe), and got registered on the payment institutions official list. With the licence, Paytm Europe can begin executing payment transactions including credit transfers and standing orders, execution of such transactions where funds are covered by a credit line, and acquiring payment transactions.

Rohan Verma Back At MapmyIndia’s Helm: Months after stepping down from the position of the CEO, Rohan Verma has been appointed as the joint MD of the geotech company, along with his father Rakesh. The duo will focus on building the company’s AI, geospatial intelligence and the Internet of Things (IoT) capabilities.

Lenskart Simplifies Group Structure: The eyewear major proposed merging its wholly owned subsidiaries, Dealskart Online Services and Lenskart Eyetech, into Lenskart Solutions under a scheme of amalgamation. The deal is intended to simplify the group’s corporate structure and consolidate the businesses under a single entity.

Swiggy Instamart Gets New CBO: Days after the departure of its CBO Hari Kumar, Swiggy has roped in ex-OYO International biz CEO Gautam Swaroop as its new business head. Gautam will oversee Instamart’s commercial operations spanning customer-centric growth, category management, and brand relationships and expansion.

Pine Labs Invests ₹25 Cr In Fintech Infra Subsidiary: The PoS provider’s board approved an investment of ₹25 Cr into its wholly owned subsidiary, Synergistic Financial Networks, through a rights issue to support its working capital requirements and future growth initiatives.

Tencent Partially Exits PB Fintech: Temasek, via its holding entity Macritchie Investments Pte Ltd, sold 1.02 Cr shares of PB Fintech in a block deal worth about ₹1,633.6 Cr yesterday. Earlier in the week, PB Fintech’s board approved an investment of ₹20 Cr in its subsidiary PB Pay. The company invested ₹13 Cr in the online payment aggregator subsidiary later.

With that, let’s take a look at the performance of the broader market this week.

Resilient Domestic Fundamentals Lift Sentiment

The Indian equity market gained for a second consecutive week, supported by resilient domestic macroeconomic indicators and improving global sentiment. The Sensex rose 0.86% during the week to close at 77,763.91, while the Nifty 50 gained 0.90% to settle at 24,270.80

According to Ajit Mishra, SVP of research at Religare Broking, the biggest tailwind for domestic equities was the strength of India’s macroeconomic fundamentals. Industrial production growth accelerated to 5.1% in May from 4.9% in April, supported by broad-based manufacturing growth and robust electricity generation. Meanwhile, GST collections surged 13.9% YoY to ₹1.95 Lakh Cr in June, marking the fastest annual growth in 13 months and signalling resilient domestic consumption.

Globally, investor sentiment improved after weaker-than-expected US labour market data strengthened expectations of a more accommodative Federal Reserve policy. Easing inflation in the Eurozone, stronger UK economic growth, and improving manufacturing activity in China also aided market sentiment, although geopolitical developments in West Asia continued to remain a key monitorable.

FPI sentiment also showed signs of improvement. According to V K Vijayakumar, chief investment strategist at Geojit Investments, foreign investors sharply reduced their selling towards the end of June. He expects the outflows to moderate further, aided by lower crude oil prices, improving balance of payments dynamics, and a stabilising rupee. He added that the correction in South Korea’s equity market could also prompt FPIs to turn buyers in India.

Investors will closely monitor FPI flows, crude oil prices, and developments around global interest rates in the coming week. Domestic macroeconomic indicators and geopolitical developments in West Asia will also remain key triggers.

With that, let’s take a detailed look at the performance of Ather Energy and FirstCry this week.

Ather Rides EV Tailwinds

The week brought a series of positive developments for India’s EV ecosystem, boosting sentiment around listed EV players.

Ather Energy retained its position among the country’s leading electric two-wheeler manufacturers, with its vehicle registrations rising 3.2% to 29,422 units in June from 28,503 in May.

While its market share declined 30 basis points to 16.2%, the company crossed the milestone of selling more than 7 Lakh scooters since inception, with its family scooter Rizta now contributing nearly three-fourths of monthly sales.

This comes after a breakthrough FY26 for the company. Earlier this month, Ather’s board approved plans to raise ₹2,500 Cr to accelerate R&D, expand marketing initiatives, and repay or prepay certain borrowings as it gears up for its next phase of growth.

Adding to the sector’s optimism, the Delhi government approved its new EV Policy 2030, committing ₹15,000 Cr towards accelerating electric mobility over the next four years.

Of this, ₹7,000 Cr will be deployed to promote EV adoption, while ₹8,000 Cr has been earmarked for charging infrastructure and tax incentives.

The policy announcement lifted sentiment across listed EV companies, with Ather Energy emerging as one of the biggest beneficiaries.

The stock surged 13.36% during the week to close at ₹1,130.20, making it one of the top gainers in the mobility space. Its competitors Ola Electric and Zelio E-Mobility also gained over 6% each.

FirstCry’s Double Play

The week was packed with corporate developments for omnichannel baby products retailer FirstCry.

The biggest announcement came from its subsidiary Swara Baby Products, which filed a DRHP for a ₹1,000 Cr IPO comprising a fresh issue of up to ₹500 Cr and an offer for sale (OFS) of up to ₹500 Cr. FirstCry parent Brainbees, which owns a 76.6% stake in Swara Baby Products, plans to sell shares worth up to ₹300 Cr through the OFS.

FirstCry said the listing would allow Swara Baby Products to independently pursue its growth ambitions in the hygiene products segment. It clarified that it will continue to retain majority ownership in the IPO-bound subsidiary.

Separately, FirstCry extended the timeline for its proposed investment of up to AED 34 Mn (about $9.3 Mn) into its UAE-based wholly owned subsidiary, FirstCry Management DWC LLC, citing procedural delays.

The capital, to be deployed by July 31, will support the company’s expansion in the UAE and Saudi Arabia.

Investors’ response to the developments was largely muted. The company’s shares declined 1.73% to end at ₹219.10.

Edited by Vinaykumar Rai

The post New-Age Tech Stocks Rally On Improving Investor Sentiment; WeWork, ixigo Lead Gains appeared first on Inc42 Media.

https://ift.tt/XeY3Tjk

MusicWiki – The Advertisement Free Music Discovery Web App Music Lovers Need

noreply@blogger.com (Unknown) — Sat, 04 Jul 2026 15:18:56 +0000

In a world where most music apps are overloaded with advertisements, subscription popups, and interruptions, MusicWiki offers a refreshing alternative for music lovers who simply want to discover and enjoy music seamlessly.

MusicWiki is a modern advertisement-free music discovery web app designed for users who love curated playlists, trending songs, regional music, and uninterrupted listening experiences directly from their browser. Unlike traditional music apps that often require downloads, subscriptions, or heavy installations, MusicWiki works instantly as a lightweight web application accessible from both desktop and mobile devices.

One of the biggest advantages of MusicWiki is its clean and minimalist interface. The platform focuses on helping users discover songs faster while avoiding distractions. Whether you enjoy Malayalam songs, Tamil hits, Hindi trending music, LoFi playlists, workout music, or viral Instagram reel songs, MusicWiki brings everything together in a beautifully curated experience.

The platform is powered using YouTube streaming technology, allowing users to instantly play songs without needing complicated account setups. Users can search for songs, explore playlists, discover trending tracks, and even share playlists publicly.

MusicWiki also supports Progressive Web App (PWA) functionality, meaning users can install the web app directly to their phone home screen without downloading anything from an app store. The experience feels smooth, fast, and mobile-friendly.

Some of the standout features of MusicWiki include:

• Advertisement-free music discovery
• Curated playlists across multiple languages
• Trending and viral song collections
• Lightweight mobile-first web experience
• Playlist sharing functionality
• YouTube-powered instant playback
• Discover regional Indian music easily
• Public playlist library
• Community-driven music discovery

As music consumption increasingly moves toward fast and lightweight experiences, platforms like MusicWiki are becoming more relevant for users who want simplicity and speed instead of bloated music applications.

For anyone searching for a free music streaming web app or an advertisement-free music discovery platform, MusicWiki is definitely worth exploring.

Explore MusicWiki here:
https://musicwikiapp.blogspot.com/

Meet The Top 10 Indian Startup Investors Of H1 2026

noreply@blogger.com (Unknown) — Sat, 04 Jul 2026 14:24:37 +0000

Indian startup funding was muted in the first half of 2026, declining 9% YoY to $5.2 Bn raised between January and June. There was a slight 7% uptick in the total number of deals to 501, as per Inc42’s Indian Tech Startup Funding Report, H1 2026 report.

Even as overall funding trends remained rather muted, investor strategies continued to evolve, with many moving focus to ventures building frontier technologies like AI, robotics and deeptech. For instance, total investment in AI startups soared over 4X YoY to $676 Mn across 57 deal;s.

Meanwhile, advanced hardware and technology saw funding rise 17% to $365 Mn on the back of a record 66 deals.

At the same time, institutional capital continued to gravitate towards seed and growth stage rounds, which accounted for a cumulative $478 Mn raised during the year and growth stage funding increased 15% YoY to $2.3 Bn. In contrast, late stage funding declined 29% YoY to $2.2 Bn, while the median ticket size fell 68% YoY to $10 Mn.

Overall median ticket size however remained stable at $3 Mn. While mega rounds of $100 Mn and higher fell to five during the period under review, the stable median cheque sizes highlighted a more diversified funding environment.

Unique investor participation also remained stable in H1 2026, with 1,108 investors participating in the ecosystem during this time.

Despite the dip in overall funding, investor interest in the ecosystem continues to be strong. Around 64% of investors surveyed in the report said they plan to increase their venture capital allocation in the second half of 2026.

While the ecosystem waits to see which investors step up in the second half of 2026 and how they shape the ecosystem through their deals, let’s take a look at which ones topped the charts in the first half in terms of the total number of startup deals.

Note: This ranking is based on data consolidated from Indian Tech Startup Funding Report, H1 2026, and deals recorded in the Inc42 database.

Top Startup Investors of H1 2026

Stride Ventures

Venture debt firm Stride Ventures continues to remain the most active startup investors, a title it has held since 2025. In H1, the firm backed 61 startups including the likes of jewellery retailer Giva, foodtech venture Magicpin, home interiors startup AllHome and EV maker River Mobility.

In February, Stride raised capital from Saudi Arabia’s Public Investment Fund (PIF) after it entered the Saudi Arabian market in September via a $200 Mn debt fund.

It currently holds assets under seven debt funds across India, the GCC, the UK and Europe. Stride Ventures is also planning to deploy $1 Bn in global credit markets over the next few years.

It boasts of 20 unicorns in its portfolio, including Zepto and Ather Energy, along with soonicorns like SUGAR cosmetics and Lohum.

Alteria Capital

The second most active startup investor for the period is also a venture debt firm, Alteria Capital. During the period, Alteria Capital closed 48 deals, backing startups like Euler Motors, OneCard and Fairdeal.Market, First Club and Country Delight.

Founded in 2017 by Vinod Murali and Ajay Hattangadi, the Mumbai-headquartered company invests in both early and growth stage startups across sectors like food and agritech, fintech, deeptech, EV and retail that are already backed by institutional investors or large VC firms.

Alteria Capital manages four funds with total deployment till date of over $750 Mn, claiming to have over $550 Mn in assets under management.

Its portfolio features names like Cashfree Payments, Healthify Me, along with IPO-bound Zepto, FabHotels and Furlenco, among over 200 investments it has made in India’s startup ecosystem.

Rainmatter

Zerodha’s investment arm Rainmatter closed 39 deals in the first half of 2026, making it the third most active investor during this time. Notable investments for the early-stage focused investor included Karo Sambhav, Polycycl, Farmwatt, Delectrik, GreenWorms, Agilitas Sports and Lissun, among others.

The Bengaluru-based venture capital (VC) firm backs startups across sectors such as fintech, healthtech and media, among others. To date, Rainmatter has built a portfolio of around 160 investments and manages assets worth over ₹1,500 Cr.

Its notable investments in the fintech space include CRED, Digio, Hissa, smallcase, Jupiter and Ditto.

Blacksoil Asset Management

Venture debt firm Blacksoil Asset Management made 37 deals in the first half of 2026, making it the fourth most active investor during the period under review. Notable investments in the year include Rupeek, See, SRV Hospitals and Zanskar Technology, among others.

The Mumbai-headquartered firm offers private credit solutions to mid-market corporates like startups. It has deployed ₹2,500 Cr in capital till date across 110 deals, with ₹730 Cr in assets under management.

Startups in its portfolio include Agrostar, Aqua Exchange, Battery Smart, Bluestone, Captain Fresh, Chalo, Dehaat, MoneyTap, slice, and others.

WeFounderCircle

The angel investor network made 36 investments in the first half of 2026, including 1buy.ai, Sarva Foam, Ctruh, Thermoflyde and Foodsquare.

WeFounderCircle is an angel investor network of startup founders and angel investors who back early stage companies.

It claims to have made 150 investments till date across sectors. Notable startups in its portfolio include Garuda Aerospace, Anveshan, Zypp, Nestroots, PeeSafe, Pixxel and Truly Madly, among others.

All In Capital

Early stage VC firm All In Capital took part in 25 startup funding rounds in the first half of 2026. The firm wrote cheques for QSR startup Acai Theory, healthtech startup Plazza, clothing care startup Iztri and SaaS startup Parsec.

Last year, All In Capital launched a second fund, with an initial corpus of ₹200 Cr and a ₹100 Cr greenshow option, with ambitions of backing 50 startups by the end of FY27 with ticket size of ₹5 Cr or less. It has been investing in startups from sectors like D2C, deeptech, fintech, and consumer brands.

Accel

VC firm Accel made 21 investments in H1 2026, including participating or leading larger rounds netted by startups like Rapido, FirstClub, Swish, among others.

The quarter was also particularly active for Accel. It collaborated with Prosus to pick six early stage startups for its Atoms X first cohort and also partnered with Google for 2026 Atoms AI cohort, picking five startups with an investment size of up to $2 Mn.

InnoVen Capital

For the first half of this calendar year, Mumbai-based InnoVen Capital participated in 20 investment deals. Some of its investments include EV startups River and Euler, fintech startup Novio and deeptech startup Infinite Uptime.

To highlight, InnoVen’s investment thesis is largely structured around growth and late-stage startups in sectors such as ecommerce, enterprise tech, fintech, edtech, and healthtech.

With a portfolio of 123 startups, InnoVen Capital has backed prominent labels like Lendingkart, Udaan, BharatPe, Rebel Foods, and LetsTransport.

Finvolve

Micro venture capital (VC) firm Finvolve has participated in 19 investment deals since the start of this year. Some of the companies it backed include Matter EV, IG Defence, Lightspeed Photonics, Constems and India Global Review.

Incorporated in 2022, Finvolve is a joint venture between early-stage investor India Accelerator, and Gift City-based B2B wealth management firm Finolutions.

Finvolve focuses on backing startups from sectors like dronetech, spacetech, clean energy and mobility, circular economy as well as social impact businesses, and startups leveraging ONDC.

It counts startups like InCred Finance, Lawyered, Proost Beer, Advance Mobility and Zulu Defence as part of its portfolio.

IAN Group

IAN Group (formerly India Angel Network) was part of 17 startup investment deals in H1 2026. Some of its notable investments include Astranova Mobility, Spector.ai, wellness brand Hyugalife, gifting platform Zuvees and electrical components manufacturer TIEA Connectors.

The group closed its second VC fund, IAN Alpha Fund, at $100 Mn in December 2025. It is now largely concentrating its investments around the advanced hardware and technology segment, with a focus on AI, spacetech, semiconductor and biotech. Since the launch, the fund has backed 10-12 startups.

The post Meet The Top 10 Indian Startup Investors Of H1 2026 appeared first on Inc42 Media.

https://ift.tt/tAqoMdi

Now, Telegram Receives Notice From Centre For Distributing Pirated Films

noreply@blogger.com (Unknown) — Sat, 04 Jul 2026 10:24:41 +0000

Messaging platform Telegram, already under the Centre’s scrutiny, has now received another notice over alleged dissemination of pirated films and OTT content.

The Ministry of Information and Broadcasting has directed Telegram to submit an Action Taken Report within 15 days, PTI reported. It has also sought details regarding the platform’s grievance redressal mechanism available for producers, OTT networks, and law enforcement agencies.

The I&B ministry further noted that copyright infringement constitutes both a civil violation and a criminal offence under the Copyright Act, 1957, and the Cinematograph Act, 1952.

While the government has largely taken a channel-by-channel approach to taking down pirated content, officials say it is now focusing on enforcing platform-wide accountability. The authorities have warned Telegram of strict legal action in case pirated content continues to be available on the app or if its response is incomplete or evasive.

Telegram has been facing a lot of heat over cybercrime concerns in recent weeks. Last month, MeitY temporarily banned the app until June 22 over its alleged use for selling fake access to exam papers, spreading misinformation and fabricating “paper leak” evidence.

The government, in a court submission, said it identified a Telegram channel titled “NEET Mafia”, which had around 18,617 subscribers and was allegedly disseminating content around paper leaks, advance booking arrangements, payment collection mechanisms and examination-related material.

Despite Telegram’s appeal, the Delhi High Court ultimately upheld the government’s restriction order. While access to the app was reinstated after the exam, the Narcotics Control Bureau, in its recently published annual report for 2025, called out Telegram for enabling drug-related advertising. The report specifically noted that Telegram’s features like auto-deletion of messages, anonymous username-based identities, and ability to create multiple accounts made it difficult to trace illicit activity on the app.

Furthermore, the Centre yesterday sent notices to Telegram and another messaging platform Signal seeking details on how they are addressing concerns over cybercrime risks related to their username features. The government had earlier directed Meta-owned WhatsApp to pause its rollout of the same feature over similar concerns and given the platform three days to submit a detailed explanation.

The Centre’s key concern is that enabling users to connect with each other by using usernames rather than phone numbers could enable impersonation and fraud.

The post Now, Telegram Receives Notice From Centre For Distributing Pirated Films appeared first on Inc42 Media.

https://ift.tt/qf1ixVo

From The Indus Valley To Incuspaze — Indian Startups Raised $105 Mn This Week

noreply@blogger.com (Unknown) — Sat, 04 Jul 2026 05:24:40 +0000

Indian startup funding plummeted in the final week of June after a sizable uptick last week. Between June 28 and July 3, Indian startups managed to raise about $104.6 Mn across 21 deals, down 91% from $1.1 Bn raised across 16 deals last week.

Important to highlight that last week’s received the boost from CRED’s $900 Mn Series H fundraise. However, excluding that round, startup funding still declined by over 50% on a weekly basis.

Date	Name	Sector	Subsector	Business Model	Funding Round Size	Funding Round Type	Investors	Lead Investor
30 Jun 2026	The Indus Valley	Ecommerce	D2C	B2C	$17 Mn	Series B	Gaja Capital, DSG Consumer Partners, Rukam Capital	Gaja Capital
29 Jun 2026	Incuspaze	Real Estate Tech	Property Listing & Discovery	B2B	$15.9 Mn	–	Bharat Value Fund	Bharat Value Fund
2 Jul 2026	BatX Energies	Clean Tech	Electric Vehicles	B2B	$11 Mn	Series A	IvyCap Ventures, Zephyr Peacock, Mankind Pharma Family Office, Excel Industries Family Office, JITO	IvyCap Ventures
1 Jul 2026	Dovetail Capital	Fintech	Investment Tech	B2B	$10.5 Mn*	Series A	Elev8 Venture Partners	Elev8 Venture Partners
30 Jun 2026	Kapture CX	Enterprise Tech	Horizontal SaaS	B2B	$10 Mn	Series B	Bajaj Finserv Ventures, Cactus Partners, India Alternatives	Bajaj Finserv Ventures
2 Jul 2026	Age Care Labs	Consumer Services	Hyperlocal Services	B2C	$9 Mn**	Series B	Shrem Group, Rainmatter, Pegasus Finvest	–
2 Jul 2026	Ninjacart	Agritech	Market Linkage	B2B	$6 Mn**	–	Accel, Tiger Global, Nandan Nilkeani (Infosys)	Accel, Tiger Global, Nandan Nilkeani
1 Jul 2026	Supply6	Ecommerce	D2C	B2C	$5 Mn	–	Unilever Ventures, Zeropearl VC, Kriti Sanon (Actor)	Unilever Ventures, Zeropearl VC
1 Jul 2026	Data Science Wizards	Enterprise Tech	Horizontal SaaS	B2B	$5 Mn	Pre-Series A	–	–
2 Jul 2026	BCT Ventures	Ecommerce	Ecommerce Enablers	B2B2C	$4.4 Mn	Seed	3one4 Capital	3one4 Capital
1 Jul 2026	Spense	Fintech	Fintech SaaS	B2B	$2.8 Mn	Seed	Arkam Ventures, Razorpay Ventures, GrowthCap Ventures, Atrium Ventures	Arkam Ventures
2 Jul 2026	PlayBlue	Ecommerce	D2C	B2C	$2.7 Mn	Seed	Centre Court Capital, MIXI Global, WEH Ventures	Centre Court Capital, MIXI Global
1 Jul 2026	Albatross Energetics	Advanced Hardware & Technology	Internet Of Things (IoT) & Hardware	B2B	$1.1 Mn	–	Transition VC	Transition VC
2 Jul 2026	Tulon Materials	Enterprise Services	Manufacturing Solutions	B2B	$1.1 Mn	Seed	Karthik Sundar Iyer (Angel), Karan Goshar (Valour Capital), Prakhar Pandey (Valour Capital), Agam Shah (Angel)	Karthik Sundar Iyer (Angel)
29 Jun 2026	Mykare	AI	Application Layer	B2C	$1 Mn**	–	Andrew Parker (Papa.com), Alfredo Vaamonde (Papa.com)	–
1 Jul 2026	YoLearn.AI	AI	Application Layer	B2C	$500K	Pre-Seed	DataAlpha.ai, White Swan Global	DataAlpha.ai, White Swan Global
30 Jun 2026	Clairva	AI	AI Infrastructure & Development	B2B	$500K	Pre-Seed	Venture Catalysts	Venture Catalysts
1 Jul 2026	CUNIN	Ecommerce	D2C	B2C	$450K	Pre-Seed	All In Capital, Huddle Ventures	All In Capital, Huddle Ventures
29 Jun 2026	Monk CI	AI	Application Layer	B2C	$450K	Pre-Seed	Campus Fund, PointOne Capital	Campus Fund
2 Jul 2026	Heatronics	Health Tech	Fitness & Wellness	B2C	$189K	Seed	Inflection Point Ventures	Inflection Point Ventures
29 Jun 2026	Rusk Media	Media & Entertainment	Digital Media	B2C	–	–	Yash Raj Films	Yash Raj Films
	Source: Inc42 * Mix of primary and secondary transactions ** Part of a larger round

Key Startup Funding Highlights Of The Week

Ecommerce emerged as the most-funded sector this week, attracting $29.6 Mn across four deals. In this, cookware brand The Indus Valley lapped the week’s biggest $17 Mn cheque in its Series B round.
The AI segment also saw a similar number of four deals — Mykare, YoLearn.AI, Clairva and Monk CI — materialised this week. These startups cumulatively raised $2 Mn.
While no investor announced multiple startup investments this week, prominent names like Bajaj Finserv Ventures, Accel and Nandan Nilkeani made fresh investments this week.
Nine startups at the seed stage collectively raised $11.1 Mn this week, led by BCT Ventures’ $4.4 Mn seed round. Total investment at this stage fell by 69% week-on-week.

Fund Updates Of The Week

3one4 Capital partnered with BII to launch the $15 Mn IIDEA Fund, which will back 10-15 startups in sectors such as energy transition, agriculture, health, deeptech and manufacturing.
Sparrow Capital closed its third fund at ₹475 Cr, exceeding its initial target of ₹400 Cr. The sector-agnostic fund plans to invest in 25-30 seed-stage startups over the next three years.

Startup IPO Updates Of The Week

OYO parent PRISM filed its updated DRHP for ₹6,650 Cr IPO with SEBI after receiving the regulator’s approval for its IPO last month.
Lending tech startup Fibe filed draft papers for ₹750 Cr IPO, comprising a fresh issue and an offer for sale (OFS). It plans to deploy most of the proceeds into its NBFC subsidiary, while investors like TPG, Norwest and Eight Roads will partially exit.
FirstCry subsidiary Swara Baby Products filed for a ₹1,000 Cr IPO. The proposed issue includes a ₹500 Cr fresh issue and a ₹500 Cr offer for sale component, with FirstCry’s BrainBees looking to sell shares worth up to ₹300 Cr.
Social media unicorn ShareChat is said to be planning for an IPO in the next 4-5 quarters. The size of the IPO could go up to $400 Mn.
SEBI greenlit the public offering of lending tech unicorn Moneyview this week. The startup’s proposed IPO could comprise a fresh issue of shares worth up to ₹1,500 Cr and an offer-for-sale (OFS) component of up to 13.61 Cr shares.

M&A Updates Of The Week

PE firm Ananta Capital acquired a controlling stake in bootstrapped personal care startup Phitku in its first institutional funding round.
Mynd Fintech acquired C2FO India to strengthen its TReDS business, adding 140 clients, 100 employees and taking its combined annual transaction volume to ₹60,000 Cr.
Proptech startup Crib acquired rent-financing platform CirclePe to offer zero-deposit renting and embedded financing for tenants and property operators.

Other Developments Of The Week

D2C femtech brand Nua is in talks to raise $20-25 Mn in a Series C round led by Peak XV Partners, with existing investors also likely to participate, as it looks to scale its women’s health and hygiene business.
AI coding startup Rocket is in talks with SIG to raise a Series A round, less than a year after its $15 Mn seed round.

Edited by Akshit Pushkarna

The post From The Indus Valley To Incuspaze — Indian Startups Raised $105 Mn This Week appeared first on Inc42 Media.

https://ift.tt/dTV7qpb

RBI Calls Cryptocurrency A Threat To Economy, Opposes Its Legalisation

noreply@blogger.com (Unknown) — Fri, 03 Jul 2026 08:24:40 +0000

Reiterating its long-standing opposition to virtual digital assets (VDAs), the RBI told a parliamentary panel that cryptocurrencies pose a threat to the economy and should not be legalised.

The central bank told the parliamentary standing committee on finance that countries like Qatar and China have already banned any cryptocurrency activity, while countries in Europe have issued stringent regulations to govern the asset class, PTI reported.

In India, cryptocurrencies operate in a regulatory grey area, with no dedicated legal framework in place despite the country being one of the world’s largest adopters of VDAs.

The discussions took place during the committee meeting held yesterday on the topic, ‘A Study on Virtual Digital Assets (VDAs) and Way Forward’. Talks were held with representatives of both the RBI and of the Institute of Chartered Accountants of India (ICAI).

During the deliberations, the RBI highlighted that cryptocurrencies, which are privately issued assets not governed by central banks unlike fiat currencies, carry the risk of being used for illegal activities like terror funding and narcotics smuggling. Besides, it said governing crypto assets held by offshore entities is a difficult task and poses challenges for regulatory authorities.

According to a separate report by ET, the RBI pitched for a containment strategy leaning towards prohibition for VDAs to ensure banks and regulated financial institutions are insulated from the risks posed by the asset class.

The RBI also criticised stablecoins which are backed by fiat currencies like the dollar and hence don’t have value fluctuations like cryptocurrencies. As per the central bank, stablecoins undermine the monetary sovereignty of the nation and users should instead adopt the central bank digital currency (CBDC) for virtual asset transactions since it is issued by the RBI itself and is backed by the rupee.

BJP MP Bhartruhari Mahtab, who heads the committee, said the RBI is against legalising crypto assets, adding that the committee may soon issue a report on its deliberations with various industry and government bodies on crypto assets.

Notably, this was the seventh meeting held by the committee on VDAs. In a meeting earlier this year with the income tax department, concerns were flagged that VDAs could be used to move funds through a system without regulated financial intermediaries.

Despite being unregulated in the country, cryptocurrency gains are taxed at 30%.

Government Tightens Crypto Noose

Interestingly, the RBI also refuted long-held claims that India is one of the largest adopters of cryptocurrency assets, claiming that the methodology used by private blockchain analytics firms is flawed and overstates adoption by more populous countries.

The sharp criticism came amid heightened scrutiny of the crypto ecosystem in recent months. The Maharashtra government this week brought crypto assets under its Protection of Interest of Depositors Act, effectively classifying them as recoverable property that authorities can attach, seize, and liquidate from fraudsters to refund victims.

In June, the Enforcement Directorate (ED) carried out searches at six locations in Bengaluru as part of an investigation into alleged large-scale violations of the Foreign Exchange Management Act (FEMA) involving cross-border money transfers through virtual digital assets.

The platforms in question provided users with the option of turning fiat currency into crypto assets and vice-versa, while forgoing the 1% TDS deducted from all crypto transactions to keep track.

This comes as many foreign crypto exchanges, including Binance and Coinbase, have re-entered the Indian market in recent months after they were held up for non-compliance with Financial Intelligence Unit (FIU) rules. Many have now formally registered with the governing body and issued stringent reporting and KYC rules for users to ensure transactions are traceable.

The post RBI Calls Cryptocurrency A Threat To Economy, Opposes Its Legalisation appeared first on Inc42 Media.

https://ift.tt/7lqg49P

PB Fintech Slumps Over 8% After ₹1,741 Cr Block Deal

noreply@blogger.com (Unknown) — Fri, 03 Jul 2026 07:24:42 +0000

Shares of PB Fintech, the parent company of Policybazaar, plunged over 8% in early trade after a block deal worth about ₹1,741 Cr saw nearly 2.37% of the company’s equity change hands.

The stock hit an intraday low of ₹1,544.45 on the BSE, down over 8% from the previous close. It later recouped some of the losses to trade around 6% lower at ₹1,575 apiece at 10:35 IST, taking the company’s market capitalisation to ₹72,745 Cr (about $8.6 Bn).

The decline came amid reports that Singapore’s sovereign wealth fund Temasek Holdings was looking to pare its stake in the insurtech major through a block deal.

According to a Mint report, Temasek, through its subsidiary Macritchie Investments Pte, planned to sell up to 1.19 Cr shares, or about 2.6% stake, for around ₹1,909 Cr ($200 Mn).

The shares were offered at a floor price of ₹1,604 apiece, a discount of 4.6% to PB Fintech’s previous closing price on the NSE.

Before the transaction, Macritchie Investments held a 6.47% stake in PB Fintech. Following the sale, Temasek is expected to retain about 3.8% stake, which will be subject to a 60-day lock-up.

The proposed stake sale comes amid continued churn in PB Fintech’s shareholder base.

In May, cofounders Yashish Dahiya and Alok Bansal sold around 38 Lakh shares, representing roughly 0.8% stake, through block deals worth about ₹665 Cr. During the same month, Chinese technology giant Tencent exited its remaining 1.05% stake in the company via a separate ₹805 Cr block transaction.

This comes amid PB Fintech’s measures to expand its business. Earlier this week, the company said it has completed an investment of ₹13 Cr, out of the total approved investment of ₹20 Cr, in its wholly owned online payment aggregation subsidiary PB Pay. Last year, the subsidiary received the RBI’s nod to operate as a payment aggregator.

“The capital has been infused to support business expansion and/or to meet the capital adequacy/net worth criteria mandated by the RBI for operating as a payment aggregator, PB Fintech said.

Last month, PB Fintech’s board also approved the incorporation of two step-down subsidiaries in Dubai to offer financial advisory and reinsurance services, strengthening its presence in the UAE.

On the financial front, PB Fintech reported a 54% YoY jump in consolidated net profit to ₹261.2 Cr in the fourth quarter of FY26. Operating revenue rose 37% to ₹2,061 Cr during the quarter from ₹1,508 Cr a year earlier.

The post PB Fintech Slumps Over 8% After ₹1,741 Cr Block Deal appeared first on Inc42 Media.

https://ift.tt/aq0L7wu

Udaan In Fresh Crisis, Mega Deal Slump In H1 & More

noreply@blogger.com (Unknown) — Fri, 03 Jul 2026 03:24:35 +0000

Udaan’s Insolvency Crisis

Udaan has run into a fresh crisis. Overseas creditors have initiated insolvency proceedings against the B2B ecommerce unicorn over a $170 Mn bond default. As it fights downrounds, mounting losses and a thinning order book, can Udaan keep its listing story alive?

The Debt Pressure: The trouble began last month after Udaan’s offshore holding company, Trustroot Internet, missed repayment on convertible notes due on June 30. The lenders then moved the Singapore HC. This came after weeks of failed debt restructuring talks, which saw the lenders pressing the unicorn for a clearer upfront payout before agreeing to extend repayment.

As a result, several major domestic banking partners withdrew working capital lines to Udaan ahead of the court filings.

The Valuation Trap: The legal escalation is tethered to Udaan’s deteriorating corporate health. The slowdown in the B2B sector and the latest down round dragged its valuation below $1 Bn, a staggering 69% collapse from its peak $3.2 Bn valuation in 2021. Furthermore, its revenue plunged 20% YoY to ₹4,561 Cr, while operational losses stood at a massive ₹1,055 Cr.

The Hunt For Lifeline: With the clock ticking, the unicorn is now scrambling for financial rescue. It is currently working with Goldman Sachs to raise up to $200 Mn equity funding, while simultaneously negotiating a $40 Mn credit facility from BlackRock by offering pledged shares. However, it has been struggling to attract investor interest for the equity fundraise.

A Tougher Reset: Amid the troubles, Udaan is trying to allay user’s concerns by saying that the insolvency proceedings relate only to offshore restructuring discussions and will not affect day-to-day operations. The unicorn added that it continues to serve customers across commerce and supply chain financing.

While the jury is out on whether the troubled B2B ecommerce giant can chart a turnaround, why are lenders circling around Udaan? Let’s find out…

From The Editor’s Desk

The H1 Mega Deal Slump

Only five startups managed to raise rounds above $100 Mn in H1 2026. Overall, late-stage funding dropped 29% YoY to $2.2 Bn during the period, deal count crashed 55% YoY to five and the median ticket size shrank sharply to $10 Mn.
The slowdown was partly cyclic as a lot of late-stage capital deployed during the 2021 boom is now reaching the end of its holding period. As such, cautious investors are increasingly focused on exits, IPOs and M&A rather than fresh mega rounds.
Looking ahead, investors expect the biggest mega cheques to flow into deeptech, manufacturing, defence tech, AI infrastructure and spacetech, which require heavy capital and fit India’s long-term industrial ambitions.

ShareChat Eyes FY28 IPO

The social media giant is looking to raise up to $400 Mn via its IPO, which could happen over the next five quarters. This comes as the startup claims to have achieved operational profitability in Q1 FY27 and crossed ₹1,000 Cr in revenues in FY26.
Founded in 2015, ShareChat’s parent Mohalla Tech operates short video platform Moj and subscription-based microdrama app QuickTV. Having raised over $1.2 Bn to date, the platform boasts a combined 65 Mn monthly microdrama viewers.
The proposed IPO marks a turnaround for ShareChat, which has spent the past few years restructuring its business. During this period, it carried out multiple rounds of layoffs, slashed costs and exited unviable product bets to improve unit economics.

IPO-Bound Ninjacart Bags $6 Mn

The B2B agritech soonicorn has raised ₹57 Cr in the first tranche of a larger round led by existing backers Accel, Tiger Global and Nandan Nilkeani. Without disclosing the targeted size of the round, it expects more investors to double down on the startup.
As it begins preparing for its planned IPO within the next two years, the startup claimed that it has achieved EBITDA profitability and clocked a 3X growth in its core business over the past year.
Founded in 2015, Ninjacart operates a full-stack supply chain for fresh produce and positions itself as a strategic vendor for quick commerce platforms. It claims to move over 1,500+ tonnes of fresh produce a day between more than 40 cities across India.

The Swara Windfall For FirstCry

FirstCry-owned contract manufacturer Swara Baby Products has filed its DRHP with SEBI for a ₹1,000 Cr IPO, which will comprise a fresh issue of shares worth up to ₹500 Cr and an OFS of up to ₹500 Cr.
BrainBees, which operates the listed omnichannel kidswear brand, owns 76.6% stake in Swara and plans to sell shares worth up to ₹300 Cr through the OFS. Post listing, the manufacturer will continue to remain a subsidiary of Brainbees.
Founded in 2018, Swara makes baby and adult diapers, sanitary napkins and panty liners. It reported a net profit of ₹95.6 Cr in FY26, up 18.5% YoY, against an operating revenue of ₹1,163 Cr, up 23.4% YoY.

No Entry For Blinkit In Meghalaya

The Khasi Hills Autonomous District Council has rejected the quick commerce giant’s bid to secure a trading licence to operate within the state. The council observed that Blinkit’s model could threaten the livelihoods of 4,000 stores in Shillong alone.
The council also noted that it had previously refused licences to similar app-based delivery platforms, including Swiggy Instamart, citing concerns over their impact on neighbourhood retailers.
The council’s concerns reflect broader regulatory scrutiny surrounding the sector. Last year, a distributors federation filed an antitrust complaint with the CCI against quick commerce giants alleging predatory pricing, deep discounting and other unfair practices.

Inc42 Markets

Inc42 Startup Spotlight

How Beijan Is Retrofitting Indian Defence With AI

India’s battlefield hardware was built for the manual era, but modern threats depend on software, drones and autonomous systems. This has created a gap between legacy defence equipment and today’s operational needs. Beijan is working to close this gap.

Modernising Legacy Systems: Founded in 2025, Beijan builds hardware and software modules that help defence systems digitise their environment, analyse data and act with precision. It aims to upgrade artillery guns, drones, and ground stations without requiring a full hardware replacement.

Plug & Play Autonomy: At the centre of its offering is BANM, a plug-and-play circuit board that attaches to drones and adds edge compute and GPS-denied navigation capabilities. The startup has also developed an autonomous artillery positioning system that combines ballistics and RTK/IMU positioning. This replaces manual adjustments with software-led precision, and reduces the dependence on humans for repetitive tasks.

Full-Stack Control: Beijan’s autonomous artillery targeting system goes further by replacing dial sights, hand-cranking, and legacy firing tables with software-driven fire control. With this, the startup’s broader ambition is to make defence hardware more precise, responsive and autonomous across categories.

As the Indian defence tech market stares at a $19 Bn opportunity by 2030 on the back of AI-driven autonomy, can Beijan redefine the country’s military capabilities?

Infographic Of The Day

Bollywood has found a new script and it’s a pitch deck. From Ranveer Singh to Anushka Sharma, India’s biggest celebrities are not just endorsing brands anymore, they are building them and have raised $121.5 Mn so far. Here is all about it…

The post Udaan In Fresh Crisis, Mega Deal Slump In H1 & More appeared first on Inc42 Media.

https://ift.tt/MYLx52m

Govt Sends Notices To Telegram & Signal Over Username Feature

noreply@blogger.com (Unknown) — Thu, 02 Jul 2026 21:24:27 +0000

The Centre has widened its scrutiny of username-based messaging platforms by sending notices to Telegram and Signal, days after directing WhatsApp to pause the rollout of its upcoming username feature in India.

According to a PTI report, the IT ministry (MeitY) has sought details from both platforms on how they address fraud, impersonation and other cybercrime risks linked to usernames, which allow users to connect without sharing their phone numbers.

Unlike WhatsApp, both Telegram and Signal already support username-based messaging. Per report, the government has asked Telegram why it should continue offering the feature and has sought similar explanations from Signal on the safeguards it has in place.

Amid the scrutiny, Zoho cofounder Sridhar Vembu has said that Arattai, the messaging app built by the SaaS giant, would disable the username-based account feature to comply with the regulatory change.

The move comes a day after MeitY directed WhatsApp to halt the rollout of its username feature in India until consultations with the government are completed. The ministry had also given the Meta-owned platform three days to explain how the feature would prevent misuse, particularly fraud and impersonation.

The government’s concerns stem from the possibility that usernames could make it harder for users to verify who they are speaking to, potentially making phishing, impersonation and financial scams easier to execute.

WhatsApp has maintained that the feature is optional and still requires users to register with a phone number. The company has also said usernames will not be searchable through a public directory and will include safeguards against impersonation and mass discovery.

The latest notices indicate that the government’s review is no longer limited to WhatsApp and could extend to all major messaging platforms that use usernames instead of phone numbers as the primary way for users to identify each other.

The latest scrutiny also comes weeks after Telegram came under regulatory action in India over cybercrime concerns.

Last month, MeitY temporarily restricted access to the platform until June 22 ahead of the NEET-UG re-examination after authorities alleged organised cheating networks used Telegram channels to sell fake exam papers, spread misinformation and exploit the platform’s message-editing feature to fabricate evidence of paper leaks.

The action followed recommendations from the National Testing Agency (NTA), with operational support from the Indian Cyber Crime Coordination Centre (I4C), which also coordinated the takedown of multiple Telegram channels, groups and bots allegedly linked to the fraud.

The post Govt Sends Notices To Telegram & Signal Over Username Feature appeared first on Inc42 Media.

https://ift.tt/tB2DNeu

Sparrow Capital Closes Third Fund At ₹475 Cr To Back Seed Stage Startups

noreply@blogger.com (Unknown) — Thu, 02 Jul 2026 08:24:28 +0000

VC firm Sparrow Capital has closed its third fund with a corpus of ₹475 Cr (about ₹50 Mn), surpassing its initial target of ₹400 Cr.

The fund is sector agnostic and Sparrow Capital plans to back 25-30 startups over the next three years with ticket size in the range of $1 Mn to $2 Mn. The firm, in a statement, said it has already made five commitments from the fund.

Sparrow Capital said 60% of Fund III’s capital came from global endowments, foundations, funds of funds and family offices. The remaining capital was raised from startup founders and operators, Indian family offices and high-net-worth individuals. This is a departure from its earlier LP base of predominantly non-institutional investors.

Sparrow Capital was founded in 2020 by Yash Jain, Aakash Goyal, and Darshit Vora. Arpit Agrawal has joined the leadership team as CFO and partner for Fund III.

The VC firm has backed over 40 startups across enterprise tech, ecommerce, consumer services, fintech and edtech sectors to date. It counts GoKwik, Apna Mart, Deconstruct, E6data, Gushwork, Furnishka, Aukera, Strainx, Superhealth, Homerun and Optimist among its portfolio startups.

The average cheque sizes of $1 Mn to $2 Mn for the third fund is higher than that disbursed in previous funds, allowing the firm to lead or co-lead seed rounds. Its Fund II, which closed at ₹120 Cr, backed 27 startups with cheque sizes of $300K to $500K.

With the Indian startup ecosystem continuing its strong growth, seed funding is seeing strong uptick as investors bet on emerging startups, especially in deeptech and AI sectors.

In the first half of 2026, seed stage funding rose 18% YoY to over $478 Mn, compared to a 29% YoY decline in late stage investments, according to Inc42’s ‘Indian Tech Startup Funding Report, H1 2026’. The total number of seed deals during the period stood at 208, compared to 66 made in late stage companies.

Overall, Indian startup funding declined 9% YoY to $5.2 Bn in H1 2026.

The post Sparrow Capital Closes Third Fund At ₹475 Cr To Back Seed Stage Startups appeared first on Inc42 Media.

https://ift.tt/9HBYAbj

ShareChat Eyes Up To $400 Mn IPO In FY28

noreply@blogger.com (Unknown) — Thu, 02 Jul 2026 06:24:37 +0000

Social media unicorn ShareChat is looking to raise up to $400 Mn through an initial public offering (IPO) planned for next fiscal year.

Manohar Charan, the cofounder and CFO of ShareChat parent Mohalla Tech, told Bloomberg in an interview that the startup is targeting a public listing over the next four to five quarters.

“Our unit economics has now turned positive. We will aim to list over the next four or five quarters,” Charan was quoted as saying.

Mohalla Tech, which also operates short video platform Moj and subscription-based microdrama app QuickTV, became operationally profitable in Q1 FY27, the CFO added.

According to Charan, the startup’s platforms command about 65 Mn monthly microdrama viewers, with users consuming more than 700 Mn episodes every day.

Inc42 has reached out to ShareChat for further details on the business performance and IPO plans. The story will be updated on receiving responses.

The operational profitability and the proposed IPO mark a turnaround for ShareChat, which spent the past few years restructuring its business after the funding boom of 2021-22 ended.

During this period, the startup carried out multiple rounds of layoffs, slashed costs, exited unviable product bets and overhauled its business model to improve unit economics.

Earlier this year, Charan told Inc42 that ShareChat’s revenue crossed the ₹1,000 Cr revenue mark in FY26, with nine consecutive months of positive cash flow.

The startup is said to be currently running at an annualised revenue pace of up to ₹1,400 Cr.

In FY25, ShareChat narrowed its adjusted EBITDA loss by 72% to ₹219 Cr from ₹793 Cr a year ago, driven by cost optimisation. However, its operating revenue remained nearly flat at ₹723 Cr as against ₹718 Cr in FY24.

The startup has changed its strategy over the past few years to focus on sustainable growth within a niche vernacular ecosystem, rather than compete with global giants like Meta and YouTube.

It has also been aggressively pulling the plug on pilot projects which fail to show results. Last month, Mohalla Tech announced that it was shutting its social discovery platform Vibely, days after Apple removed the app from its App Store over alleged content moderation concerns.

Founded in 2015, Mohalla Tech has raised over $1.2 Bn in total funding to date from marquee investors like Lightspeed, Tiger Global, Temasek, Tencent, among others.

With its IPO plans, ShareChat has joined the ever-growing list of Indian startups preparing to to hit the public markets. Startups like Aye Finance, Turtlemint, Shadowfax, Amagi and Fractal have made their stock market debuts so far this year, while several others are awaiting regulatory approvals.

Earlier this week, hospitality unicorn OYO’s parent PRISM filed its updated DRHP after getting SEBI’s nod for its IPO last month. Lending tech startup Fibe also filed its draft papers for up to ₹750 Cr IPO this week.

The post ShareChat Eyes Up To $400 Mn IPO In FY28 appeared first on Inc42 Media.

https://ift.tt/1BMzjP8

Bike Bazaar’s Debt Spiral, Dream11 Shuts Fintech Arm & More

noreply@blogger.com (Unknown) — Thu, 02 Jul 2026 03:24:37 +0000

Crisis At Bike Bazaar

Bike Bazaar’s lending engine appears to have stalled. With disbursements frozen, ratings cut and securitised pools worsening, the two-wheeler financing platform is now fighting for survival. As it courts a strategic investor, can Bike Bazaar orchestrate a last minute rescue?

The Stress Shows Up: The problem started around last year. By June 2025, Uttar Pradesh and Bihar together made up 52% of Bike Bazaar’s AUM, leaving the startup exposed to concentration in markets where borrower stress is harder to manage and collections fragile. As macro pressure increased on lower-income households, repayment problems began to surface.

The Damage Spreads: The lending tech platform tried to manage the problem by selling ₹179 Cr of stressed assets in FY25, but this only masked the problem temporarily. By March 2026, gross stressed assets had surged to 38.1% of the portfolio, up from 8% two years earlier, while 30-plus days past due loans had jumped to 19.8% of AUM.

The Liquidity Crunch: The financial consequences now appear severe. Bike Bazaar slipped to a loss of ₹45 Cr in FY26 against a ₹3 Cr profit in FY25, with loan book shrinking 40% YoY to ₹839 Cr. Liquidity is tight too. Currently, the startup has about ₹44 Cr in free cash against debt repayments of ₹100 Cr due in the next three months and ₹222 Cr over the next six months.

The Rot Deepens: Meanwhile, ICRA has downgraded Bike Bazaar to BBB, pushing it deeper into high-risk territory. More than a third of the portfolio is now either delinquent or already sold off as stressed debt, making this a full-blown credit crisis. The ratings agency has also downgraded multiple pass-through certificate issuances tied to its five securitisation trusts.

Amid the chaos, the startup has already begun unwinding parts of its structure, including a transfer plan for its marketplace arm Bluebird. As it scours the market for funding to survive the next few months, how did Bike Bazaar run into a credit crisis? Let’s find out…

From The Editor’s Desk

Dream11 Shuts Fintech Vertical

Less than a year after its launch, the unicorn is pulling the plug on its fintech vertical, Dream Money, starting July 30. . The platform has stopped accepting new customer registrations, lumpsum investments and loan applications.
The startup noted that the funds invested via the platform will remain invested in the user’s name, but will be in the custody of its broking partners. However, Dream Sports will cancel all recurring SIPs on the platform starting July 7.
Dream Sports began diversifying after the Centre banned RMG in the country, which forced it to shut its main fantasy sports platform. However, it has since been shuttering its non-performing verticals, including sports analytics app Dream Play last month.

Can Fibe Ace The IPO Test?

Earlier this week, the fintech startup filed its DRHP with SEBI for an IPO that comprises a fresh issue of up to ₹750 Cr and an OFS of over 4 Cr shares. With this, the platform now seeks to unlock public market capital for its next growth phase.
Far from its early avatar of quick salary advances, the finance platform today caters to India’s growing middle class. This diversification has been backed by improved numbers in FY26: revenue stood at ₹1,601 Cr, profits at ₹257 Cr, and an AUM of ₹8,603 Cr.
While the startup claims its asset quality and delinquency ratio have improved, experts question whether Fibe’s expected $1 Bn valuation, implying a 30X–40X PE multiple, is a little too much for a young lender in a business vulnerable to slowdowns and fraud.

Dovetail Capital Bags ₹100 Cr

The investment asset servicing startup has raised about $10.5 Mn in its Series A round, in a mix of primary and secondary deals, led by Elev8 Venture Partners to strengthen its presence across international markets.
Founded in 2017, Dovetail Capital offers services such as fund administration, third-party fund management, derivative clearing and investment advisory. It counts the likes of FPIs, AIFs, mutual funds, insurers and family offices as clients.
With a significant presence in GIFT City, Dovetail Capital claims to service more than $4.5 Bn worth of assets.The startup is eyeing a piece of India’s asset management market, which is projected to become a $5.82 Tn opportunity by 2031.

UPI Volumes Decline In June

The digital payments infrastructure clocked 22.7 Bn transactions in June, down 2.1% from 23.20 Bn in May. As a result, transaction value also fell 3.3% month-on-month (MoM) to ₹28.92 Lakh Cr during the month.
Nevertheless, average daily transaction count rose 1.2% MoM to 75.7 Cr in June, while the average daily transaction value declined marginally to ₹96,405 Cr from ₹96,465 Cr in May.
On a YoY basis, the UPI transaction count grew 23% from 18.4 Bn and transaction value jumped 20% from ₹24.03 Lakh Cr.

Crib Acquires CirclePe

The AI-powered property management startup has acquired the rent financing platform for an undisclosed amount to scale its offerings and bolster financing capabilities.
While Crib offers tools to manage operations of 2,500 co-living spaces and hostels such as inventory, onboarding, invoicing and collections, CirclePe operates as a rent financing platform that allows tenants to rent properties without submitting a security deposit.
Meanwhile, PE firm Ananta Capital has acquired a majority stake in D2C fragrance brand Phitku for an undisclosed amount, via a combination of primary and secondary sales. The three founders will continue to lead the startup post the deal.

Inc42 Markets

Inc42 Startup Spotlight

Can AnduraX Build India’s First Reusable Return Vehicle?

India’s spacetech sector is expanding fast, but one of its biggest gaps remains reusable reentry capability. Without reliable return systems, space experiments and payload recovery remain expensive and difficult to scale. AnduraX is trying to close this gap.

Aiming For The Skies: Founded in 2023, AnduraX is building what it calls India’s first privately-developed reusable re-entry space vehicle. Earlier this year, its test vehicle, ADM-01, was lifted to an altitude of 250 km and released under near-stratospheric conditions, generating key flight data for the startup’s return-capable system.

The mission was designed to validate the startup’s guidance, navigation and control (GNC) architecture, a critical layer for surviving and managing reentry.

Engineered For Space: The startup’s long-term ambition goes beyond return missions. Once operational in space, the platform is looking to support in-space manufacturing, microgravity research and human spaceflight logistics. This positions AnduraX not just as a hardware startup, but as an enabling layer for the broader spacetech economy.

Looking Toward 2028: AnduraX is now targeting its first re-entry mission by 2028, betting that reusable return systems will become a key infrastructure layer for space startups, research institutions and industrial users worldwide. With the broader homegrown spacetech economy projected to become a $77 Bn economy by 2030, can AnduraX build a viable re-entry platform for the next wave of space applications?

Infographic Of The Day

India’s funding landscape in H1 2026 told an interesting story. While fintech attracted the most capital, ecommerce saw the highest deal activity and AI continued its upward march. So, which sectors dominated the funding charts in H1 2026?

The post Bike Bazaar’s Debt Spiral, Dream11 Shuts Fintech Arm & More appeared first on Inc42 Media.

https://ift.tt/hZvfE5u

Dream Sports Shuts Fintech Platform Dream Money Within A Year Of Launch

noreply@blogger.com (Unknown) — Wed, 01 Jul 2026 07:24:43 +0000

Dream11 parent Dream Sports is scaling back its diversification efforts, shutting down its fintech vertical Dream Money less than a year after its launch. Last month, the company also shuttered its AI-powered sports performance analytics app Dream Play.

A notification on Dream Money’s website said it is “discontinuing operations” starting July 30, prior to which customers can view statements, holdings, and account details. A summary of investments made through Dream Money will also remain visible under the ‘Transaction Summary’ section on the platform till July-end, following which the platform will “cease to be operational”.

It further noted that the funds invested through the platform will remain invested in the user’s name in custody of the broking partners. It will also cancel all recurring SIPs on the platform starting July 7. The platform has stopped accepting new customer registrations, new lumpsum investments, and new loan applications.

Launched in August 2025, Dream Money operated as an investment and wealth management platform with offerings in mutual funds, digital gold, fixed deposits and loans.

Customers can choose to withdraw or liquidate their gold holdings till July 15, following which the assets will be moved to digital gold platform Augmont. The migration process will take around 10 days, during which customers will not be able to access their gold holdings, Dream Money said.

As for mutual funds, the company said customers’ portfolios will continue to be held in their names and serviced directly by the respective asset management companies (AMCs). Dream Money encouraged users to write to their respective AMCs to appoint a new mutual fund distributor of their choice for their portfolio.

Fixed deposits will continue to be held and serviced directly by the banking partner. Similarly for lending, all EMIs and auto debits will remain unaffected and continue to be serviced by the lending partners directly.

This comes days after Dream Sports shut Dream Play on June 10. The AI app analysed users’ game play in sports like Padel and provided personalised recommendations for improvement.

Dream Sports began its diversification spree last year after it was forced to shut its main fantasy sports offering Dream11 after the government banned all real-money gaming platforms in the country.

Since then, the company has been trying to leverage its vast existing user base, especially in Tier II & III towns, to cross sell financial services and content offerings. Earlier this year, it launched stock broking platform Dream Street, aimed at first-time investors that are not confident with making bets. It follows a hybrid model that combines AI-powered data insights and market guidance from SEBI-registered analysts.

Overall, Dream Sports’ new avatar spanned eight verticals, two of which have been sunsetted this month. Dream11 has been transformed into a watch-along platform where users can follow gameplays of prominent content creators, while Fancode operates a sports OTT platform. It also operates SaaS platform Dream Horizon.

The post Dream Sports Shuts Fintech Platform Dream Money Within A Year Of Launch appeared first on Inc42 Media.

https://ift.tt/xBknQNc

Indian Startup Funding Slips 9% To $5.2 Bn In H1 2026

noreply@blogger.com (Unknown) — Wed, 01 Jul 2026 05:24:12 +0000

Despite persistent global macroeconomic uncertainty and geopolitical tensions, investor interest in the Indian startup ecosystem remained largely intact in the first half (H1) of 2026.

According to Inc42’s Indian Tech Startup Funding Report, H1 2026, Indian startups raised more than $5.2 Bn across 501 deals during the January-June period. While the fresh capital infusion during the half declined 9% YoY from $5.7 Bn raised in H1 2025, the total number of deals that materialised during the period increased 7% YoY to 501.

While investors continued to back startups in droves, the number of larger checks lapped up by startups declined significantly during the period.

Only four funding rounds worth $100 Mn or more, compared to 11 such deals in the corresponding period last year. Between January 1 and June 23, only Spinny (bagged $170 Mn), KreditBee (raised $280 Mn), ,Rapido (nabbed $240 Mn) and Sarvam (netted $234 Mn) managed to raise funding rounds north of $100 Mn.

This significantly reduced the overall capital inflow even as the median ticket size remained consistent YoY at $3 Mn. Thus, the funding environment of H1 2026 can be described as a period of normalisation for investments in the world’s third-largest startup ecosystem rather than reflecting a broader slowdown.

The trend became apparent after lukewarm funding numbers in 2025, with startups raising $11 Bn, 8% lower than the previous year.

Following years dominated by large late-stage rounds, institutional investors have increasingly shifted their capital deployment cycle across a wider base of startups. Although investors have increased the number of investments, they have also deepened their evaluation of business models, unit economics, and innovation.

IvyCap Ventures’ managing partner, Vikram Gupta, believes that the numbers reflect a structural improvement and maturity for the Indian venture capital ecosystem.

“The decline in overall funding quantum in H1 2026 reflects a genuine macro-driven recalibration, a higher cost of capital globally, LP caution on emerging markets, and a natural correction after the exuberance of 2021–22. But beneath that, the rise in deal volume tells a different story: more companies are getting funded, at more rational valuations, with stronger fundamentals,” he added.

However, an encouraging trend during the half was increased investor participation in the ecosystem. More than 1,100 investors actively backed startups during H1, reflective of stability and the exit of short-term or “tourist” capital.

According to the investor survey, around 64% of institutional investors expect to increase their allocation to venture capital over the next 18 months. However, respondents also acknowledged growing caution among global LPs, with geopolitical uncertainty and constrained global liquidity emerging as the biggest risks to startup valuations.

With that, here’s a closer look at the biggest funding trends shaping India’s startup ecosystem in H1 2026.

Access Free Report

Late-Stage Funding Slowdown Offsets Broader Market Resilience

The biggest drag on startup funding during H1 2026 came from the late-stage startup ecosystem, with fund deployment in mature startups declining by 27% YoY to $2.2 Bn

More importantly, the median check size plunged 68% to $10 Mn, reflecting a growing investor reluctance to underwrite capital-intensive late-stage tech businesses.

Despite the correction in funding value, late-stage deal count declined only 4% to 66, indicating that investors are writing smaller, more disciplined checks to startups that now command significant valuations.

Meanwhile, growth-stage startups emerged as the biggest beneficiaries of this capital rotation. Growth-stage funding climbed 15% YoY to $2.3 Bn, while deal volume surged 33% to 190 transactions.

Although the median ticket size fell by 25% to $6 Mn, the rise in deal activity suggests investors are diversifying their portfolios by backing a larger number of Series A and Series B startups rather than concentrating capital in a handful of unicorn candidates.

Further, early-stage funding bucked the broader slowdown. Seed-stage startups raised $478 Mn, registering an 18% increase over last year despite deal volume falling marginally. The median ticket size remained stable at $1 Mn, underlining continued investor confidence in India’s next generation of technology startups

“From where we stand as early-stage investors, we haven’t seen a slowdown. We’re continuing to see strong entrepreneurship, new founding teams and plenty of capital flowing into early stage consumer companies,” Fireside Ventures’ cofounder and partner Kannan Sitaram said.

Access Free Report

AI Takes Centre Stage In H1 2026

If H1 2025 belonged to fintech, H1 2026 was undoubtedly the half-year of AI. AI startups raised $676 Mn across 57 deals, recording a remarkable 317% YoY jump in funding while deal volume nearly doubled with a 90% increase.

Notably, the overall AI funding number also received a significant bump from Sarvam’s $234 Mn unicorn round in June.

The momentum in AI funding can be attributed to the government’s IndiaAI Mission, which has strengthened investor confidence by supporting compute infrastructure, indigenous AI development, and foundational research.

“First, the global AI infrastructure buildout has created real enterprise demand… Second, investors are moving away from businesses where the moat is distribution towards companies where the moat is technology,” IvyCap’s Gupta said.

Deeptech also continued building on the momentum witnessed throughout last year. Startups operating in the advanced hardware & technology segment secured $365 Mn during the half, up 17% YoY. Meanwhile, deal volume also surged 53% to 66 deals.

On the other hand, traditional funding leaders, fintech and ecommerce, witnessed slight corrections during the half.

While the fintech segment continued to reign as the most funded sector in H1, the total funding amount netted by startups declined 19% YoY to $1.3 Bn. Ecommerce, too, saw funding fall 35% to $779 Mn, although it retained the top spot in total deals, with 112 funding transactions.

“Within the consumer segment, we are seeing entirely new categories emerge. Lab-grown diamonds are one example. Healthy snacking continues to evolve, while supplements have expanded well beyond protein into highly targeted wellness use cases,” Fireside Ventures’ Sitaram added.

Bengaluru Remains India’s Startup Capital As Investor Confidence Stays Strong

Geographically, Bengaluru consolidated its leadership position within the Indian startup ecosystem.

The city attracted $2.7 Bn across 165 deals, accounting for more than half of the country’s total funding during the first half of the year. Bengaluru also emerged as the preferred destination for AI, fintech and deeptech startups, with companies such as CRED, Rapido, Sarvam AI and KreditBee featuring among the biggest fundraisers.

Delhi NCR retained its second position despite a 39% YoY correction to $917 Mn, while Mumbai ranked third, with startups raising $587 Mn.

The ecosystem also added five new unicorns — Sarvam, JusPay, KreditBee, Square Yards and Skyroot — matching last year’s tally despite the overall moderation in funding.

Access Free Report

M&A Gains Momentum Amid Lower Startup IPOs

The first half also highlighted the continued evolution of India’s startup exit landscape. While IPO activity remained largely subdued due to broader market volatility, mergers and acquisitions emerged as the preferred liquidity route.

Indian startups recorded 52 M&A deals during H1 2026, broadly in line with last year but significantly higher than in the second half of 2025. Amid this, investor expectations around exits have also shifted considerably.

According to Inc42’s survey, secondary buyouts and strategic M&A are expected to account for the overwhelming majority of startup exits over the next two years, while IPOs are likely to remain limited until growth-stage companies demonstrate sustained profitability and stronger unit economics.

“The IPO window for deeptech is a longer cycle. What I expect over the next two to three years is a significant increase in strategic M&A, particularly cross-border acquisitions,” Ivycap’s Gupta said.

The listed startup ecosystem reflected a similar trend. Although India’s New Age Tech Index witnessed a decline in overall market capitalisation during H1 2026, it still outperformed the NIFTY 50 by 8.5 percentage points. Significantly, 75% of India’s listed startups are now profitable, indicating that public market investors increasingly reward companies that balance growth with operational efficiency.

“I think the second half will be stronger because many of the IPOs that were deferred are beginning to come back. Large listings create positive sentiment across the ecosystem, and strategic players with significant cash reserves continue to look for acquisition opportunities,” Sitaram said.

Going into the second half of 2026, VCs are expected to remain focused on AI, deeptech and semiconductor-driven innovation. While large late stage funding rounds may remain scarce amid global liquidity constraints, India’s startup ecosystem appears to be entering a more mature phase — one characterised by disciplined capital deployment, stronger fundamentals and increasing investor preference for technology-led businesses capable of generating long-term value.

Access Free Report

The post Indian Startup Funding Slips 9% To $5.2 Bn In H1 2026 appeared first on Inc42 Media.

https://ift.tt/7Ntvlm1

OYO’s Third Stab At IPO, Funding Slips In H1 2026 & More

noreply@blogger.com (Unknown) — Wed, 01 Jul 2026 03:24:36 +0000

OYO Files UDRHP For ₹6,650 Cr IPO

OYO is making its third attempt at the Indian bourses. The hospitality unicorn’s parent PRISM has filed its updated DRHP with SEBI for an IPO, which will consist entirely of a fresh issue. Backed by multifold profit surge, will OYO finally cross the D-Street finish line?

OYO’s IPO Gameplan: The hospitality major has filed its papers for a ₹6,650 Cr fresh issue, with no OFS. Eyeing a valuation of up to $8 Bn via the listing, the hospitality giant plans to spend the biggest chunk of the fresh proceeds (₹4,987 Cr) for debt repayment or prepayment. It is also mulling a pre-IPO placement of up to ₹1,330 Cr.

The Profit Story: Unlike its previous two IPO attempts, OYO is entering the public markets fray this time with much stronger numbers. PRISM reported a net profit of ₹748 Cr in 9M FY26, up nearly 3X of its full-year FY25 profit, while operating revenue also rose 11% YoY to ₹6,941 Cr.

The Global Shift: PRISM is steadily repositioning itself as a global hospitality platform rather than a pure India story. The company’s network now spans more than 24,000 hotels and 1.25 Lakh homes, while Europe and the US have become major growth engines. Overall, overseas operations contributed more than 83% of its top line in 9M FY26, while the home turf accounted for the remaining.

The Legal Cloud: But the UDRHP also lays out the heavy legal troubles facing PRISM. The Zostel dispute remains unresolved, and any adverse outcome could force PRISM to transfer up to 7% of its shareholding. There are also risks tied to human trafficking lawsuits in the US, a tax dispute involving shareholder SoftBank and a looming antitrust penalty in India.

As public investors deliberate whether the hospitality giant’s profit surge outweighs the legal baggage, here is all about the OYO parent, PRISM, taking another step towards its IPO…

From The Editor’s Desk

Startup Funding Slips In H1 2026

According to Inc42’s latest Indian Tech Startup Funding Report, H1 2026, homegrown new-age tech ventures raised more than $5.2 Bn between January and June, down 9% from $5.7 Bn raised in H1 2025. However, the deal count rose 7% YoY to 501.
Mega deals declined significantly during the period. Only four funding rounds worth $100 Mn or more materialised in H1 2026 as against 11 such deals in the year ago period. As a result, median ticket size remained flat YoY at $3 Mn.
On the sectoral front, AI topped funding charts. Startups in the sector bagged $676 Mn across 57 deals in H1 2026, zooming 317% YoY. The momentum came on the back of the IndiaAI Mission, strengthening investor confidence and indigenous AI development.

Flat June For E2W Sales

Electric two-wheeler (E2W) registrations continued to see tepid growth in June, with total sales rising 5% month-on-month to 1.81 Lakh units. Most OEMs reported a moderate MoM increase in registrations, while Ola Electric saw a decline.
The Bhavish Aggarwal-led startup’s registrations fell nearly 1% to 15,096 units last month from 15,218 units in May. Meanwhile, legacy automakers TVS Motor and Bajaj Auto continued to dominate charts and sold 44,467 units and 40,576 units, respectively.
Going ahead, consumer interest is expected to increase in EVs as state governments step up efforts to promote electric mobility. Brokerage firm Nomura also said that E2W volumes are likely to grow 18% YoY going forward due to rising adoption.

The Indus Valley Bags $17 Mn

The D2C kitchenware startup has raised around ₹161 Cr in its Series B round led by Gaja Capital to fuel product innovation, strengthen omnichannel distribution and deepen brand presence.
Founded in 2016, The Indus Valley claims to offer toxin-free, non-coated cookware and pressure cookers. The brand has raised more than $21 Mn to date, and claims to have crossed ₹200 Cr in annual revenue run rate.
The fundraise comes as Indian consumers opt for healthier and more sustainable cookware, driven by rising awareness around product quality and safety. Overall, the homegrown kitchenware market is projected to cross the $11 Bn mark by 2033.

India Inches Closer To ISM 2.0

Moving a step closer towards launching the India Semiconductor Mission 2.0, the finance ministry’s expenditure finance panel has cleared a ₹1.25 Lakh Cr outlay for the initiative. The proposal will now be taken to the Union cabinet for the final nod.
If approved, the ISM 2.0 outlay will be significantly higher than the ₹76,000 Cr allocated under the first phase of the mission. Since its launch in 2021, 12 semiconductor projects, with committed investments of ₹1.64 Lakh Cr, have been approved under the project.
The development comes as India looks to reduce its dependence on imported chips and position itself as a trusted semiconductor manufacturing hub amid rising geopolitical tensions and an increasingly fragmented global technology supply chain.

Fibe Gears Up For ₹750 Cr IPO

The lending tech startup has filed its draft IPO papers with SEBI for a public issue, which will comprise a fresh issue of up to ₹750 Cr and an OFS component of over 4 Cr shares.
Founded in 2015, Fibe is a digital consumer lending platform that offers personal loans and purpose-driven financing solutions. It has raised $300 Mn to date. As of March 2026, the startup had ₹8,602 Cr in AUM and had a presence across 10,387 touchpoints.
On the financial front, Fibe saw its net profit more than double to ₹257.5 Cr in FY26 from ₹113.7 Cr in the previous fiscal year. Meanwhile, operating revenue surged 31% to ₹1,584.6 Cr from ₹1,208.9 Cr in FY25.

Inc42 Markets

Inc42 Startup Spotlight

Can Bobakat Bubble Up India’s Tea Scene?

India’s beverage market is expanding, but premium consumers still have limited options beyond coffee and chai. While bubble tea has caught on, the category remains underdeveloped and has very few brands. Bobakat is trying to change this with a quality-first bubble tea experience.

Bubble Tea For Indians: Founded in 2024, Mumbai-based Bobakat is building a D2C beverage chain around bubble tea. Its menu includes specialised tea blends, authentic tapioca pearls, and fruit jellies, designed to make the category more appealing to Indian urban consumers.

A Premium Experience: Bobakat is not competing on novelty alone. The brand is betting on a mix of product quality, a clearly defined target audience and a carefully designed in-store experience. This approach gives the startup a more premium positioning in a market, where many beverage brands struggle to stand out beyond flavour variants and social media buzz.

Built For Scale: The D2C brand claims to have already served more than 10 Lakh customers and posted strong growth. It now plans to open 35 new stores by FY27, followed by 50 stores each in FY28 and FY29, signalling an aggressive retail expansion strategy.

Tapping into India’s bubble tea market, which is projected to become a $219 Mn opportunity by 2033, can Bobakat turn bubble tea into a scalable category?

Infographic Of The Day

Info Edge wants a front-row seat to India’s AI revolution. The investor behind Naukri and 99acres has deployed more than ₹1,003 Cr across AI and deeptech startups since 2020. Here is all about it…

The post OYO’s Third Stab At IPO, Funding Slips In H1 2026 & More appeared first on Inc42 Media.

https://ift.tt/W2wQGms

Ananta Capital Acquires Majority Stake In Personal Care Brand Phitku

noreply@blogger.com (Unknown) — Wed, 01 Jul 2026 01:24:42 +0000

Mumbai-based private equity firm Ananta Capital has acquired a majority stake in D2C startup Phitku via a combination of primary capital infusion and a secondary share purchase. The size of the transaction was not disclosed.

Phitku founders Neha Marda Agrawal, Sumit Marda and Rahul Dokania will continue to lead and retain some stake in the business while also getting a partial exit. Important to mention that Phitku, which sells alum-based natural deodorants, was bootstrapped prior to the stake acquisition.

Founded in early 2025, Phitku is a personal care brand primarily operating in the alum-based natural deodorant category. The startup sells alum crystal roll-on deodorants via its D2C platform as well as e-commerce and quick-commerce marketplaces. It gained national visibility after appearing on Shark Tank India Season 5.

The startup intends to use the capital to accelerate product development, strengthen branding, and selectively expand into international markets. It plans to maintain a concentrated portfolio strategy and focus on establishing leadership in its category before expanding into other categories.

With the capital in the bank, the brand Phitku aims to grow 4-5X over the next two years and hit an ARR of ₹300 Cr. It claims to have achieved profitability within 14 months of launch while remaining bootstrapped, and that it has served over 6 Lakh customers across India.

Ananta Capital is a PE firm and investment management platform backed by Taparia family of Famy Care Group. Founded in 2020 by Ashutosh Taparia, the firm operates as an independent investment arm with a major focus on the consumer, healthcare, and retail sectors.

Notably, the firm already operates a range of personal care brands through its beauty and wellness company, The Guardian Group. Its portfolio includes 7 brands including perfume brand Bella Vita, skincare brand HipHop, as well as the India franchise of global nutritional supplement major GNC. Last year, Ananta Capital acquired a majority stake in Rubans, a digitally native, fast-growing fashion jewellery brand for Indian women.

Important to note that Phitku is just the latest in a recent series of D2C startups being acquired by larger conglomerates to expand into digital retail and build on the pre-existing connect that startups have with a younger, more digitally native audience.

Other examples include Innovist (acquired by L’Oreal), Minimalist (acquired by Hindustan Unilever), and Forest Essentials (acquired by Estee Lauder).

The post Ananta Capital Acquires Majority Stake In Personal Care Brand Phitku appeared first on Inc42 Media.

https://ift.tt/XBQMwsz

OYO Parent PRISM Files Updated DRHP For ₹6,650 Cr IPO

noreply@blogger.com (Unknown) — Tue, 30 Jun 2026 05:24:37 +0000

Hospitality unicorn OYO’s parent PRISM has filed its updated draft red herring prospectus (UDRHP) with SEBI for a ₹6,650 Cr IPO, which will comprise entirely of a fresh issue of shares.

The Ritesh Agarwal-led company may also undertake a pre-IPO placement of up to ₹1,330 Cr. PRISM is said to be eyeing a valuation of $7 Bn to $8 Bn for the public issue.

The company plans to use ₹4,987 Cr raised from the IPO to repay or prepay borrowings, while the remainder of the capital will be used for general corporate purposes.

PRISM received SEBI’s approval for its IPO earlier this month, after filing the draft papers via the confidential route in December last year.

Notably, OYO first filed its DRHP in September 2021, aiming to raise about $1.2 Bn at a valuation of $11 Bn to $12 Bn. However, it postponed its public listing plans due to market conditions. Later, it pre-filed draft IPO papers in 2023 but didn’t proceed with the public issue.

(The story will be updated soon)

The post OYO Parent PRISM Files Updated DRHP For ₹6,650 Cr IPO appeared first on Inc42 Media.

https://ift.tt/YocuG19