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YatriKart Secures Strategic Investment from MMG Group at a Valuation of ₹100 Crore
- Indian convenience ecosystem YatriKart secures strategic investment from MMG Group.
- MMG Group acquires a stake in YatriKart at a valuation of ₹100 crore.
- YatriKart aims to revolutionize transit retail in India through its tech-enabled retail ecosystem.
- Funding will be used to scale franchise network, enhance infrastructure, and optimize supply chains.
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Inc42
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Paisabazaar Gets INR 9 Cr Tax Demand Notice
- PB Fintech's subsidiary Paisabazaar has received a demand notice of INR 9.32 Cr from Income Tax authorities.
- The notice is related to an assessment order in which expenses of INR 85.60 Cr were disallowed.
- PB Fintech plans to file an appeal against the assessment order and is evaluating the situation.
- This is not the first time Paisabazaar has faced tax demands; last year, it received notices from the I-T Department.
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Eu-Startups
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Kos Stiskin, Co-founder of FINOM, will join us as a keynote speaker at the EU-Startups Summit 2025!
- Kos Stiskin, Co-founder of FINOM, will join as a keynote speaker at the EU-Startups Summit 2025.
- FINOM is a fast-growing platform that provides financial services tailored to SMEs and freelancers across Europe.
- Kos Stiskin is a seasoned strategist and fintech entrepreneur with experience in venture capital and angel investing.
- At the EU-Startups Summit, Kos will deliver a keynote on scaling a pan-European fintech business and market expansion strategies.
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ISN
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Bengaluru's Exponent Energy disrupts EV market with 15-minute charging innovation
- Bengaluru-based Exponent Energy is disrupting India's electric vehicle sector with innovative 15-minute charging technology, addressing key EV adoption challenges.
- Founded in 2020 by Arun Vinayak and Sanjay Byalal Jagannath, the startup has reengineered battery economics and developed fast-charging infrastructure.
- CEO Arun Vinayak, an Ather Energy alumnus, and COO Sanjay Byalal Jagannath lead Exponent's strategies to overcome charging time and battery life barriers.
- Exponent's 15-minute charging system includes advanced Battery Management System (BMS) 2.0, predictive thermal control, and e^pump stations capable of delivering 1MW.
- Their optimized battery pack design with standard LFP cells offers smaller packs, reduced range anxiety, and a 3,000-cycle warranty—triple the industry standard.
- Exponent Energy has raised Rs 380.72 crore in funding and aims to deploy 1,000 charging stations and support 25,000 EVs in India by 2025.
- The company plans expansion into Delhi-NCR, Mumbai, and Chennai, with further exploration of ASEAN and African markets.
- Exponent's technical approach differs from global competitors like BYD, focusing on BMS algorithms, thermal management, and standard LFP cells for cost-effective solutions.
- Exponent's charging stations are designed for fleet use, offering cost advantages over competitors, and demonstrating a technology well-suited for local conditions.
- Their comprehensive strategy positions Exponent Energy as a potential model for EV infrastructure in emerging markets, with innovative financing solutions for fleet operators.
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Economic Times
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Bear House Clothing raises Rs 50 crore in round led by JM Financial private equity
- Bear House Clothing, a men’s apparel brand, has raised Rs 50 crore in a Series A funding round led by JM Financial India Growth Fund III.
- The funding will be used to drive offline expansion, support working capital requirements, and strengthen the company’s branding and marketing initiatives.
- The startup, founded in 2017, offers a range of premium casual workwear and sells through its website and major ecommerce platforms.
- Bear House Clothing plans to open around 20 more physical stores across India in the next two years.
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Inc42
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Karnataka HC Bans Bike Taxi Services Till Rules Are Framed
- Karnataka High Court has banned bike taxi services provided by Ola, Uber, and Rapido in the state.
- The court has given a time of six weeks for the companies to halt their operations.
- Justice B Shyam Prasad asked the government to frame rules for bike taxi services within three months.
- Bike taxi services have faced protests from auto and taxi unions and have been under the scrutiny of the authorities.
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ISN
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Shark Tank India-featured Better Nutrition raises Rs 10 crore in funding from top investors across tech giants
- Shark Tank India-featured biofortified food brand Better Nutrition has raised Rs 10 crore in funding.
- The funding round was led by family offices, HNIs, and angel investors, including Namita Thapar, Shantanu Deshpande, and PV Sindhu.
- Better Nutrition offers biofortified grains that are naturally enriched with essential nutrients and partners with farmers to make them accessible.
- The startup plans to use the funding to expand product offerings, strengthen distribution, invest in R&D, and create awareness campaigns.
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SiliconCanals
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Delft’s drone startup Tective Robotics raises funding from newly launched SecFund and Tenzing Alpha
- Netherlands-based Tective Robotics, a startup specialising in automated data acquisition using a network of dronehubs, has raised undisclosed funding from SecFund and Tenzing Alpha.
- SecFund, managed by The Brabant Development Agency, focuses on supporting advancements in data transmission, low-noise technologies, and drones.
- Tective Robotics develops dual-use autonomous drones for defence, emergency response, and agriculture, aiming to improve operational efficiency and resource management.
- The investment from Tenzing Alpha aims to help Tective Robotics scale its technology, expand market reach, and accelerate adoption across key sectors.
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Inc42
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Swiggy Gets INR 158 Cr Demand Notice From Income Tax Dept
- Foodtech major Swiggy has received a tax demand notice of INR 158.25 Cr from the Income Tax Department.
- The demand notice is for alleged wrongful deductions and non-payment of tax on interest income.
- Swiggy believes it has strong arguments against the order and is taking necessary steps to protect its interests.
- This is not the first tax notice received by Swiggy, as the company has previously faced similar demands.
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Insider
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Here's an exclusive look at the pitch deck AI tax startup Incentify used to raise $9.5 million
- AI tax startup, Incentify, raised $9.5 million in a Series A funding round led by Innovent Capital Group.
- Incentify helps companies find and use tax credits and incentives using AI.
- The startup's software uses AI to find applicable benefits and manages the application process for a company's tax credits and incentives portfolio.
- Incentify's Explore tool, powered by AI, provides personalized tax incentives and insights to customers.
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Inc42
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Apna Mart’s Revenue Surges 85% To INR 59 Cr In FY24
- Franchisee-led quick commerce startup Apna Mart reported an 85% surge in revenue to INR 59.4 Cr in FY24.
- The revenue growth was accompanied by a 52% increase in net loss to INR 33.1 Cr.
- Apna Mart operates in Tier II & III cities, providing 15-minute grocery and retail delivery services.
- The startup has an offline presence in 14 cities and is raising INR 214 Cr in a funding round led by Nandan Nilekani's Fundamentum.
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ISN
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Ambani's Reliance Industries partners with BLAST for esports business in India
- Reliance Industries, led by Mukesh Ambani, has partnered with BLAST to enter the esports business in India.
- The joint venture aims to tap into India's fast-growing gaming sector, which has a base of over 600 million gamers.
- The partnership will develop, host, and promote esports competitions in India, leveraging BLAST's production capabilities and Reliance's digital infrastructure.
- India's gaming industry is expected to triple in size by 2029, and the esports market globally is forecast to reach $16.7 billion by 2033.
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Yourstory
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India a global leader in agentic AI adoption: Deloitte report
- Over 80% of Indian organizations are actively exploring the development of autonomous agents, indicating a substantial shift towards Agentic AI.
- The report highlights the increasing focus on multi-agent workflows as a key priority area for Indian businesses.
- Around 70% of firms expressed a strong desire to use GenAI for automation.
- Concerns about errors, bias, and data quality continue to hinder large-scale deployment of AI systems.
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Startup Pedia
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Image Credit: Startup Pedia
"Y'all Are Not Ready For Images V2”: OpenAI CEO Sam Altman Teases Ghibli Version 2
- OpenAI CEO Sam Altman has teased Ghibli users with a version 2 of the feature.
- Studio Ghibli-style images have triggered a viral trend and resulted in a surge in users for OpenAI's chatbot.
- The CEO hinted at even more advanced features, stating 'y'all are not ready for images v2.'
- Recent updates to OpenAI's GPT-4o model have enabled advanced image generation capabilities and led to increased subscription revenue and app downloads.
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Yourstory
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Startup news and updates: Daily roundup (April 2, 2025)
- Atomberg surpasses Rs 1,000 crore in revenue in FY25; IT department rejects PB Fintech subsidiary's Rs 86 crore expense claim.
- Binance's Head of Regional Markets discusses the Indian crypto landscape, highlighting the increasing interest from institutional investors.
- Luxorides provides luxury car rental services and has catered to top celebrities and events, including G20 Summit and movie productions.
- CCI clears Groww's shareholder restructuring, allowing specific shareholders to gain additional voting rights.
- PB Fintech's subsidiary Paisabazaar faces IT department's rejection of Rs 85.6 crore expense claim for lack of substantiation.
- Meta's AI Research head, Joelle Pineau, announces departure after eight years of leading FAIR at Meta.
- Infinity Fincorp raises $40 million in extended Series A round led by Beams Fintech, focusing on microloans against property in India.
- Stance Health secures $1 million in pre-seed funding to scale its MSK care model in India with advanced technology.
- YatriKart receives investment from MMG Group, partners of McDonald's and Coca-Cola in India, to enhance its retail-on-the-go services.
- Better Nutrition secures Rs 10 crore funding to make nutrient-rich food accessible in Indian households.
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