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Startup News
ISN
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Elevation Capital makes fourth partial exit from ixigo
- Elevation Capital sells a portion of its shares in Ixigo, yielding an estimated 25-fold return on investment.
- Approximately 53.9 lakh shares were sold at Rs 180 each, totaling Rs 97.4 crore, in a recent block deal.
- Schroder International Selection Fund acquired 53.6 lakh shares for Rs 96.9 crore in the same deal.
- This marks Elevation Capital's fourth partial sale of shares in Ixigo.
- The firm previously divested shares worth Rs 100 crore in a pre-IPO secondary transaction and another ₹181 crore through the IPO.
- Ixigo, founded in 2007, offers travel booking services for trains, flights, and buses, along with utility tools.
- The company saw a 128% YoY rise in quarterly net profit for March 2025, totaling Rs 16.7 crore.
- Operating revenue surged 72% to Rs 284 crore, reflecting strong growth across its verticals.
- On an annual basis, Ixigo reported FY25 revenue of Rs 914 crore, up 39% YoY, with a net profit of Rs 60.2 crore.
- Ixigo claims 544 million annual active users and 83 million monthly active users across its platforms.
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Medium
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349
InvestorBase: Bridging the Investor-Founder Knowledge Gap
- InvestorBase focuses on bridging the knowledge gap between investors and founders.
- The platform provides founders with educational resources like articles, guides, case studies, templates, and expert advice.
- Startup growth, fundraising, marketing, and scaling are among the topics covered on the platform.
- InvestorBase partners with industry experts, investors, and organizations to provide valuable knowledge.
- These collaborations ensure founders receive guidance from top professionals.
- The platform connects founders with a network that includes academic institutions like IIT Delhi and IIT Bombay.
- Meaningful collaborations and innovative environments are fostered through these connections.
- Whether a startup founder, investor, or enabler, InvestorBase welcomes all to join its ecosystem.
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Startup Pedia
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148
Image Credit: Startup Pedia
Elon Musk-led Tesla Set To Open Its First Indian Showroom In Mumbai Next Month
- Tesla is set to open its first showroom in Mumbai next month, followed by another showroom in New Delhi.
- The EV automaker has imported supercharger components, car accessories, spare parts, and merchandise from the USA, China, and the Netherlands.
- Tesla's first shipment of Model Y rear-wheel drive SUVs has arrived in India from China, incurring significant import duties.
- The Model Y is expected to be sold for over Rs 48.5 lakh, subject to Tesla's pricing strategy.
- Tesla has increased hiring in India and plans to offer more car models to the country.
- The company is also looking into leasing warehouse space in Karnataka and expanding its existing warehouse in Gurugram.
- Tesla aims to attract a high-end crowd in Mumbai and New Delhi with its showrooms located in affluent areas.
- After facing hurdles with high tariffs and local manufacturing requirements, Tesla is finally entering the Indian market.
- Despite its showroom plans, Tesla is not looking to manufacture vehicles in India at the moment.
- Union Minister of Heavy Industries HD Kumaraswamy confirmed Tesla's lack of interest in manufacturing in India.
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Startup Story
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505
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Women-Led AI SaaS Startup BharatAI Raises Strategic Funding at ₹15 Crore Valuation
- BharatAI Innovations Pvt. Ltd., a women-led AI SaaS startup, has secured strategic funding at a valuation of ₹15 crore from a CIO-turned-angel investor.
- Founded in 2023 by Divya Jha and Keshav Jha, BharatAI developed ENQBooks, an AI-powered lead management platform simplifying workflows and enhancing lead scoring.
- ENQBooks has processed over 2 million leads within 18 months and is utilized by over 100 professionals in diverse industries.
- The startup is incubated at AIC-BIMTECH and received initial support from India’s Startup India Seed Fund Scheme through the Atal Innovation Mission by NITI Aayog.
- The funding aims to help BharatAI expand its platform, penetrate sectors like education, logistics, finance, and manufacturing, and strengthen AI capabilities for predictive insights and CRM integrations.
- BharatAI seeks to solidify its standing in India's SaaS industry by offering scalable, AI-powered lead lifecycle management solutions for practical business applications.
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Inc42
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226
Image Credit: Inc42
Apple Considers Buying AI Startup Perplexity: Report
- Apple is considering acquiring the AI startup Perplexity to enhance its artificial intelligence capabilities.
- Discussions about the potential acquisition are in the early stages, and Apple has not engaged directly with Perplexity’s executives.
- Apple’s head of mergers and acquisitions, Adrian Perica, discussed the integration of Perplexity’s AI-driven search tools with Apple’s services chief and other AI leaders.
- Perplexity stated that it has no knowledge of ongoing or future M&A discussions involving the startup.
- Apple did not respond to queries concerning the potential buyout of Perplexity.
- If the acquisition of Perplexity by Apple goes through, it would be one of Apple's largest acquisitions since buying Beat for $3 billion in 2014.
- Perplexity was valued at $14 billion in its most recent funding round.
- Apple intends to integrate Perplexity’s AI search engine with its Safari web browser.
- The story is expected to be updated soon.
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Medium
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53
What Is Manus AI and Why Is Everyone in Tech Talking About It?
- Manus AI is gaining attention in the tech world as an autonomous AI agent for AI automation.
- It can think, reason, and perform actions across digital systems independently.
- Manus AI goes beyond ChatGPT and basic AI assistants by offering advanced capabilities.
- It is likened to having a virtual employee with the ability to understand context and logic to complete tasks efficiently.
- Manus AI eliminates the need for manual app-switching, button-clicking, and automation rule-building.
- The technology is considered underrated but is gaining recognition for its productivity-enhancing features.
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Inc42
3w
30
Image Credit: Inc42
DroneAcharya Delays Financial Submission For H2 FY25
- DroneAcharya, listed on BSE SME, has postponed its submission for H2 FY25 from May 27 to July 11.
- The delay is due to audit process delays caused by resource constraints and internal review procedures.
- This is the second time the company has delayed reporting its financial numbers, last year facing a fine for a similar delay.
- DroneAcharya recently halted a merger with AITMC Ventures.
- In H1 FY25, the company's profit decreased by 62.1% to INR 1.50 Cr, while revenue from operations increased by 28.8% to INR 26.90 Cr.
- Droneacharya Aerial Innovations' shares closed lower at INR 86.75 on BSE.
- The stock has depreciated by about 42.7% over the last year.
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Inc42
3w
8.4k
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RBI Fines Fino Payments Bank INR 29.6 Lakh For Flouting Licencing Rule
- RBI fines Fino Payments Bank INR 29.6 lakh for violating licensing rules.
- RBI's inspection found non-compliance with guidelines during the ISF 2024 took place with reference to the bank's financial position as of March 31, 2024.
- Fino Payments Bank was issued a notice to show cause for the penalty.
- The bank was found to have 'end of day' balance exceeding the prescribed limit of INR 2 lakh in four accounts from February to November 2023.
- Fino Payments Bank's shares closed 3.5% higher at INR 291.8 apiece on the BSE.
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Inc42
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201
Image Credit: Inc42
From WIOM To Oben Electric — Indian Startups Raised $92 Mn This Week
- Investment activity in the Indian startup ecosystem plunged in the third week of June with startups raising $91.5 Mn across 10 deals, down 84% compared to the previous week.
- Positive developments included ArisInfra closing its IPO, Capillary Technologies refiling its IPO papers, and MakeMyTrip securing $3.1 Bn funding.
- Key funding highlights this week include WIOM raising $35 Mn, Fintech startups collectively raising $40.1 Mn, and three seed-stage startups securing $3.5 Mn.
- Fintech remained the most funded sector, WIOM's fundraising was the largest, and seed-stage funding declined significantly compared to the previous week.
- IPO developments involved ArisInfra closing oversubscribed, Capillary filing its DRHP, Meesho shifting headquarters, and Zepto deferring its IPO plans.
- Mergers & acquisitions included InCred Money acquiring Stocko and Krutrim acquiring BharatSah'AI'yak for AI advancements.
- Other developments featured MakeMyTrip raising $3.1 Bn, BlueStone welcoming pre-IPO capital infusions, Physis Capital raising funds, Quadria launching HealthQuad Fund III, and Okinawa aiming to raise INR 60 Cr.
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Startup Pedia
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124
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Swiggy Enters The Travel And Concierge Space With New App Called ‘Crew’ - Will Help Users Plan Vacations, Arrange Surprises, And More
- Swiggy, a major food delivery platform in India, ventures into the travel concierge and lifestyle space by launching a new app called Crew in an invite-only pilot phase.
- Crew offers personalized concierge services for various tasks like securing international driving licenses, organizing laundry services, finding locksmiths, and planning vacations, targeting an affluent market.
- Described as an 'invisible partner' on Google Play Store, Crew aims to simplify tasks and complexities by handling users' requests efficiently and promptly.
- The app promises to assist with tasks like securing dinner reservations, crafting surprises, and organizing vacations upon users' requests.
- Crew is currently in a beta phase and is accessible by invitation only, building on the insights gained from a previous Swiggy service called Rare Life that focused on premium events and experiences.
- Competing in the concierge market alongside players like Indulge Global and RedBeryl, Swiggy's Crew targets major cities and affluent demographics.
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Inc42
3w
105
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Bharti Enterprises’ Space Arm To Invest INR 313 Cr In Eutelsat
- Bharti Space Limited, the space arm of Bharti Enterprises, will invest nearly INR 313 Cr in French satellite group Eutelsat as part of a larger rights issue.
- The deal includes participation from other entities like shipping company CMA CGM and French investment fund Fonds Strategique de Participations.
- Funds raised will be used by Eutelsat to repay debt and invest in satellite constellations.
- This investment will make the French government the largest shareholder in Eutelsat with a 29.99% stake.
- Eutelsat is crucial to Bharti Enterprises' satellite communications ambitions in India.
- Bharti Enterprises became the largest shareholder in Eutelsat through a merger with UK government-backed OneWeb in 2023, forming Eutelsat OneWeb.
- Bharti Enterprises plans to offer satellite communication services in India using Eutelsat OneWeb's satellite constellation.
- However, Airtel, part of Bharti Enterprises, signed an agreement with SpaceX to provide Starlink services in India.
- Competition has intensified in India's satcom space with companies like Starlink, Jio SES, Amazon Kuiper, and others entering the market.
- TRAI has recommended norms for satcom spectrum, and the Indian government is expected to roll out regulations soon for faster satcom network deployment.
- The investment marks a strategic move by Bharti Enterprises in the satellite communication sector.
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Dev
3w
159
Image Credit: Dev
Frustrated with Static Feedback? See How YAP Delivers Real-Time Results
- Traditional language-learning apps often provide delayed and generic feedback, focusing on streaks rather than real improvement.
- YAP integrates AI-generated pronunciation feedback, adaptive spaced-repetition, and token-reinforcement systems to enhance accuracy, retention, and motivation.
- YAP addresses legacy feedback loop issues by offering timely corrections, individualized hints, and competence-based rewards.
- The platform includes features like an AI pronunciation coach, adaptive spaced-retrieval engine, and squad feedback loops for improved learning.
- Studies support that AI-generated feedback, spaced-retrieval apps, and token-reinforcement systems contribute to better learning outcomes.
- To experience YAP's feedback loop, users can download the beta, engage in challenges, earn mastery tokens, and track progress through reflection.
- YAP's approach combines real-time corrections, adaptive review scheduling, and mastery incentives to enhance the learning experience.
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Medium
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53
Image Credit: Medium
I Built an AI That Writes and Posts My Dev Journey So I Can Focus on Building
- Building in public can be powerful but challenging, as consistency in sharing progress can be difficult to maintain.
- To address this challenge, the individual created AutoBuild.io, an AI-powered tool that automates the process of sharing development updates on social media platforms.
- AutoBuild.io reads GitHub commits or Notion updates, generates social media content using OpenAI, and posts them on platforms like Twitter, Facebook, or Instagram.
- The tool is designed for developers, indie hackers, and creators who wish to build their personal brand and attract an audience while focusing on product development.
- AutoBuild.io utilizes Python for the backend, HTML, CSS, JavaScript for the frontend, OpenAI GPT-4o for content generation, and integrates with GitHub and Notion to track progress.
- Features of AutoBuild.io include Google sign-in, a dashboard for post editing and previewing, GitHub + Notion progress sync, auto-posting to various platforms, post analytics, and subscription plans.
- The creator plans to open beta tester slots soon, offering early access and influence over features to interested individuals.
- Lessons learned include the importance of solving one's own problem first, prioritizing feedback over perfection, clarity in AI-generated content, and recognizing the talent in Nigeria for tech innovation.
- Future plans for AutoBuild.io include final testing on payments and post scheduling, refining AI tones for different platforms, and preparing for the official launch.
- The tool aims to help individuals stay consistent in sharing their development journey by automating the posting process, allowing them to focus on building.
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Gritdaily
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243
Image Credit: Gritdaily
How Festival Finance Is Transforming Entertainment Into High-Yield Investment Assets
- The entertainment industry is witnessing a shift towards festivals as high-yield investment assets, offering 5-7x returns when managed effectively.
- Aleksandra Szuszkiewicz, VP of Finance for a prominent reggae festival brand, is leading this financial transformation by treating festivals as valuable, scalable assets.
- Her European background provided a unique advantage in understanding uncertainty and resilience in the financial world.
- Festivals are viewed as complex, data-rich ventures with various revenue streams, highlighting the importance of financial discipline and strategic planning.
- The live music market is projected to grow significantly by 2030, driven by the increasing demand for immersive experiences and enhanced infrastructure.
- Investors often overlook mid-market and regional festivals with strong followings, offering sustainable investment opportunities.
- Financial mismanagement, such as overspending on talent and lack of risk hedging, can lead to the downfall of even well-attended festivals.
- Aleksandra encourages women in finance to build expertise in both finance and cultural products to excel in the industry.
- Festivals are not just cultural events but serious financial assets with recurring revenue and brand value.
- The festival industry is expected to see continued growth through operational efficiency and deeper financial integration.
- There is a shift towards treating festivals as operating businesses rather than temporary events, ensuring long-term financial sustainability.
- Aleksandra plans to establish a fund focusing on alternative entertainment assets, aiming to bridge culture with institutional capital.
- The future of festivals lies in aligning creativity with financial viability, maintaining soulful equity in the evolving entertainment landscape.
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Insider
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10.5k
Image Credit: Insider
Viral AI 'cheating' startup Cluely lands $15 million led by Andreessen Horowitz
- Cluely, a startup promising to help users cheat, secured $15 million in funding led by Andreessen Horowitz.
- The company was founded earlier this year and aimed to assist users in 'cheating on everything.'
- Cluely's CEO, Roy Lee, mentioned a goal of reaching 1 billion views across all platforms.
- Initially, Cluely focused on aiding software engineers in cheating on job interviews, sparking controversy when Lee was suspended from Columbia University.
- The startup, though removing job interview cheating references, still provides 'undetectable' AI support for users.
- With the new funding, Cluely plans to heavily invest in marketing to achieve its reach goals.
- The startup has employed marketing strategies such as a humorous video and intends to hire 50 'growth interns' to create daily TikToks.
- Andresseen Horowitz's partner praised Cluely's founder for his innovative approach and fearlessness.
- Cluely's original investors, Abstract Ventures and Susa Ventures, who had previously raised $5.3 million, are also partaking in this new funding round.
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