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Startup News
Economic Times
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Image Credit: Economic Times
Sebi relaxes Esop norms for IPO-bound startup founders
- Sebi approved a proposal allowing startup founders to retain ESOPs granted at least one year before filing IPO papers.
- Founders classified as promoters can now hold ESOPs even after IPO under the new relaxation by Sebi.
- This move is expected to benefit public companies planning to list after reverse flipping to India.
- Sebi's chairman, Tuhin Kanta Pandey, shared details of the proposal approved during the board meeting.
- Sebi also approved rationalizing the content of placement documents for Qualified Institutions Placement (QIP).
- Current disclosures required in QIP placements under ICDR norms will be streamlined for efficiency.
- The amendments aim to simplify the placement document, avoiding duplication of information available in the public domain.
- The proposal includes specifying risk factors, the issue's objectives, and the issuer's business in a concise format.
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ISN
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Image Credit: ISN
NBFC firm Techfino raises Rs 65 crore in equity round to boost MSME lending
- Techfino, a non-banking finance company, raises Rs 65 crore in equity funding led by Stellaris Venture Partners and Saison Capital.
- The Bengaluru-based lender plans to expand secured lending operations for MSEs in India's semi-urban and rural areas.
- The funding will help Techfino double its branches from 30 to 60, enhance its workforce, and improve credit risk assessment technology.
- Techfino was founded in 2019 by former banking executives and operates in education loans and MSE secured lending.
- The company's asset under management is about Rs 225 crore, with Rs 100 crore in loan against property portfolio.
- Techfino disburses over Rs 10 crore in secured loans monthly and expects this to double post the funding.
- The average LAP ticket size ranges from Rs 8 lakh to Rs 12 lakh, catering to small retailers and farmers across various states.
- Techfino evaluates household-level income for underwriting, considering earnings of multiple family members.
- The company attributes its scalability to tech infrastructure integrating banking data, property verification, and legal checks.
- Techfino has disbursed over one lakh loans, closed FY25 with Rs 34 crore revenue, and Rs 1.5 crore profit before tax.
- The firm employs about 400 staff, aiming to increase to 600 by year-end, focusing more on its MSME LAP portfolio for growth.
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TechCrunch
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Image Credit: TechCrunch
Scale smarter: 5 days left to save up to $210 on your TechCrunch All Stage pass
- TechCrunch All Stage pass prices are set to increase after June 22 at 11:59 PM PT.
- Founders can save $210 and investors can save $200 by registering before the deadline.
- The summit on July 15 at Boston's SoWa Power Station is designed for founders and investors looking to scale and grow.
- Attendees can expect tactical breakouts, real investor feedback, networking opportunities, and a live pitch showdown.
- The event features two stages focusing on early-stage and Series A+ strategies.
- Topics covered include The 2025 VC Playbook, Inception Stage building, Founder challenges, Capital acquisition for AI-native startups, and democratization of investing through technology.
- Key speakers at the summit include representatives from Sapphire Ventures, Underscore VC, NEA, Index Ventures, and more.
- Register before June 22 to save up to $210 and access valuable insights and networking opportunities.
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Inc42
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Image Credit: Inc42
Jio Financial Services Takes Complete Control Of Jio Payments Bank
- Jio Financial Services (JFS) has acquired Jio Payments Bank Ltd (JPBL) for INR 104.5 Cr, making it a wholly-owned subsidiary.
- JPBL saw a tripled growth in customer base to 2.31 Mn and deposits amounting to INR 295 Cr.
- The bank offers various products like CASA variants, debit cards, wallets, money transfer services, and Aadhaar-enabled payments.
- In Q4 FY25, JPBL expanded its network to over 14,000 business correspondents and processed 4.08 Mn UPI transactions worth INR 318.20 Cr.
- JFS holds an 82.17% stake in JPBL after acquiring additional shares from SBI for INR 68 Cr in August 2024.
- JFS, a fintech arm of Reliance Industries Ltd (RIL), provides lending, payments, and insurance solutions.
- JPBL was set up in 2016 as a joint venture between RIL and SBI and officially started operations in April 2018 as India's sixth payments bank.
- RIL demerged JFS into a separate entity in 2023, inheriting RIL's stake in JPBL.
- Jio BlackRock Asset Management and Jio BlackRock Investment Advisors recently received regulatory approvals to commence operations.
- Overall, the acquisition solidifies JFS's control over JPBL and enhances its presence in the fintech ecosystem.
- JFS continues to diversify its financial services offerings through various entities like Jio Finance Ltd and Jio Insurance Broking Ltd.
- The acquisition signifies JFS's strategic growth and positioning within the financial services sector.
- The integration of JPBL under JFS's umbrella strengthens its position in the digital banking and payments space.
- The company is poised to leverage the increased stake in JPBL to expand its reach and enhance its suite of financial products and services.
- JFS's acquisition of JPBL underscores its commitment to becoming a key player in India's evolving fintech landscape.
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VC Cafe
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Vibe Coding: Fast, Powerful — But Not Flawless
- Israeli startup Base44, founded by 31-year-old Maor Shlomo, was acquired by Wix for $80M six months after launch.
- Base44, Shlomo's second startup, had over 250,000 users, was profitable ($189K profit in May), and focused on 'vibe coding' for software development.
- Vibe coding, popularized by Andrej Karpathy, enables developers to describe outcomes in plain English for AI to generate code faster.
- Vibe coding is ideal for rapid prototyping but doesn't replace entire software teams.
- Opportunities for startups in vibe coding include empowering faster innovation, reducing costs, and creating accessible coding tools.
- Challenges include the need for clear prompts, human oversight for code validation, and maintaining complex project context.
- Experts warn about the unpredictability of AI-generated code, scalability issues, cost limitations, and challenges in compliance and documentation.
- Despite challenges, AI-driven tools are set to transform software development, abstracting lower-level tasks for developers to focus on higher-level design and architecture.
- Vibe coding tools and IDEs are advancing, but practicality, compliance, and scalability remain key concerns in the evolving landscape of automated coding.
- Vibe coding signifies a shift in software development automation, paving the way for AI workflows across various aspects of development tools and practices.
- While AI automation in software development poses challenges, it also promises to revolutionize coding processes and job roles within the industry.
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TheStartupMag
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Image Credit: TheStartupMag
Top 10 Pacific Northwest Marketing Agencies
- The Pacific Northwest is not only known for its nature and culture but also for marketing innovation, especially in digital marketing agencies.
- Digital marketing strategies in the region focus on Google as a powerful platform for online visibility, with SEO being a key tactic for improving rankings.
- Top marketing agencies in the PNW include Portent, Enleaf, ClickMonster, Logical Position, Talk Fast Social, Webfor, Intuitive Digital, Arcane Marketing, Add3, and Odd Dog Media.
- Portent, a seasoned agency, specializes in sustainable SEO growth, brand consistency, and crafting audience-aligned content.
- Enleaf stands out for its data-driven approach, providing clients with transparent performance metrics for smarter marketing strategies.
- ClickMonster focuses on aiding small businesses with personalized web design, WordPress development, and cost-effective marketing solutions like SEO and PPC.
- Logical Position excels in paid media and SEO, leveraging data for connecting brands with high-intent audiences and ensuring competitive advantages.
- Talk Fast Social emphasizes social media advertising, branding, and digital PR, helping businesses maintain their online voice and engage their communities effectively.
- Webfor prioritizes performance metrics and ROI in every campaign, delivering tangible value for clients across diverse digital marketing services.
- Intuitive Digital's values-driven approach and expertise in digital ethics enable brands to create impactful campaigns while upholding their mission-driven approaches.
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Eu-Startups
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French HealthTech company DESKi raises €5.2 million for its cardiac imaging software
- French HealthTech company DESKi raises €5.2 million in a Seed round to support the global launch of its FDA-approved cardiac imaging software, HeartFocus.
- The funding was led by Racine2 with participation from various funds and investors.
- HeartFocus was founded in 2016 by brothers Bertrand Moal and Olivier Moal and leverages AI algorithms trained on over 10 million data points.
- The software aims to improve early heart disease detection and bring life-saving diagnostics to more providers.
- DESKi collaborates with US and European platforms to expand the reach of HeartFocus globally.
- Recent milestones include FDA clearance for HeartFocus and the implementation of a Predetermined Change Control Plan for software updates.
- Clinical studies showed that HeartFocus AI can assist first-time users in capturing quality heart scans.
- Heart disease is a leading cause of death globally, and DESKi aims to address limited access to echocardiography with AI guidance.
- BNP Paribas Développement supports HeartFocus for its potential to transform cardiovascular disease management worldwide.
- HeartFocus enables healthcare professionals to conduct cardiac ultrasounds after minimal training, expanding early diagnosis capabilities.
- DESKi's announcement signifies a step toward making life-saving diagnostics more accessible and cost-effective in various care settings.
- Épopée Gestion also backs DESKi's international expansion efforts.
- The funding round marks progress for DESKi in advancing healthcare technology and enhancing patient care.
- DESKi's innovative AI products, including HeartFocus, aim to revolutionize cardiovascular disease detection and management.
- DESKi's vision is to revolutionize healthcare by making cutting-edge diagnostics widely available.
- The support and investments received by DESKi indicate growing recognition of the company's potential impact on healthcare systems globally.
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Startup Pedia
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Image Credit: Startup Pedia
'Get your spouse involved as a partner': 66-YO billionaire Jay Chaudhry tells young entrepreneurs
- Jay Chaudhry, the 66-year-old CEO of Zscaler, attributes his success to his wife, Jyoti Chaudhry.
- He emphasizes the importance of involving one's spouse as a partner for startup success.
- The couple's collaborative strength was evident since their first venture, SecureIT, founded in 1996.
- Jay praises his wife's finance background and MBA skills, which complement his engineering and product expertise.
- Jyoti Chaudhry handles crucial business functions like company incorporation, payrolls, and benefits, areas unfamiliar to Jay.
- Jay Chaudhry humorously admits to having 'no clue' about their financials, relying on his wife's expertise in this area.
- The CEO describes himself as a risk-taker while his wife is more conservative, providing a balanced approach to decision-making.
- He values his wife's calm demeanor during high-stress situations, highlighting her role in maintaining stability.
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Medium
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Image Credit: Medium
GenAI: Operational Power, Strategic Blind Spots
- Teams use GenAI at a SaaS product organization to reduce boilerplate work by 65% for junior developers, allowing more time for problem-solving.
- Zendesk's study in 2023 showed that GenAI triage reduced agent time per ticket by 21% across B2B customers.
- A medtech firm improved a rare condition detection model by creating 500K synthetic EHR-style records using GenAI, achieving a 17% better F1 score on validation.
- GenAI excels at drafting responses, summarizing queries, and categorizing sentiments but requires pairing with verification logic, re-ranking prompts, or human review.
- GenAI cannot substitute for embedded systems, multi-modal planning, or full agents but can augment them.
- Key sectors like finance, healthcare, and defense face hurdles in adopting GenAI, leaning towards self-hosted or specialized models due to governance concerns.
- The market is moving towards agentic systems that combine GenAI with memory, planning, and execution.
- LangChain, OpenInterpreter, and crewAI are being adopted in mid-size tech companies, signaling potential growth for GenAI technology.
- GenAI's effectiveness is maximized when its limitations are well understood.
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Eu-Startups
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Swedish FinTech startup Polar raises €8.6 million for its monetisation platform
- Swedish FinTech startup Polar raises €8.6 million in a Seed funding round led by Accel.
- The funding will support expanding Polar's team across Europe and investing in growth, developer relations, and partnerships.
- Notable investors include Guillermo Rauch, Tobi Lütke, and Harley Finkelstein.
- Polar is an open-source monetisation platform for digital products and SaaS, founded in 2022.
- The platform has gained rapid traction, with over 17,000 signups and 5,300 GitHub stars.
- Polar aims to address the challenge of monetizing software in the evolving landscape of SaaS and usage-based pricing models.
- It targets solo developers and early-stage startups, offering features like usage-based billing automation and zero boilerplate integrations.
- Polar handles international sales tax, compliance, and fraud protection as a merchant of record, emphasizing community contributions with its open-source foundation.
- The company sees a future where software development is accessible, but monetization remains a significant hurdle.
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Inc42
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363
Image Credit: Inc42
Exclusive: Telecom Startup WIOM Raises $35 Mn In Round Led By Accel, Prosus
- Telecommunications startup WIOM raises $35 Mn in funding led by Accel and Prosus, valuing the startup at $200 Mn.
- This round saw participation from existing investors, bringing WIOM's total funding to $55 Mn.
- WIOM was founded in 2015 as i2e1 and rebranded in 2021 to focus on providing internet services under the PM-WANI scheme.
- The PM-WANI scheme aims to expand internet services by creating public WiFi Hotspots nationwide.
- WIOM offers affordable internet plans in the INR 4 to INR 16 range for urban and rural households.
- The startup partners with local internet operators and operates over 70,000 WiFi hotspots.
- WIOM's goal is to reach 5 Cr homes and 50 Cr users over the next 5 years.
- WIOM's previous funding round was $17 Mn in Series A led by RTP Global.
- Investors in WIOM include YourNest, Omidyar Network India, Global Brain, and others.
- Ashutosh Mishra, WIOM co-founder, confirmed the latest funding round.
- WIOM's platform-led distribution model focuses on providing internet connectivity through partners.
- WIOM operates on a revenue-sharing model with local operators for internet services.
- The startup pivoted to focus on internet services after the launch of the PM-WANI scheme.
- WIOM was co-founded by Ashutosh Mishra, Satyam Darmora, Nishit Aggarwal, and Maanas Dwivedi.
- WIOM offers unlimited data plans on a two-day basis through its network of hotspots.
- WIOM's funding round was led by Accel and Prosus.
- WIOM is aiming to serve middle and lower-middle income households with internet connectivity.
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Pymnts
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Image Credit: Pymnts
Private Equity Groups Hold $1 Trillion as Tariffs Hinder Dealmaking
- Private equity (PE) groups are currently holding around $1 trillion in unsold assets, which would typically have been returned to investors in a normal market climate.
- Factors such as high U.S. interest rates, inconsistent tariff policies from the White House, and geopolitical uncertainties have led to lower company valuations and prolonged retention of portfolio businesses by these firms.
- This situation has contributed to a slowdown in dealmaking activity, with mergers and acquisitions (M&A) remaining stagnant this year.
- Limited partners (LP) are growing impatient due to delayed returns, as they invest trillions of dollars in PE funds with expectations of regular profits.
- Despite initial optimism for an M&A upswing under the Trump administration, deal volume and value have remained mostly flat compared to the previous year.
- PwC's survey revealed that 30% of respondents have either halted deals or are reconsidering them due to tariff-related concerns, leading to investor dissatisfaction.
- The announcement of Trump's tariffs saw over $120 billion worth of IPO preparations placed on hold in just three weeks in April.
- PE firms are exploring alternative exit strategies, including selling businesses in parts or through 'continuation funds', as the prolonged lack of IPO opportunities poses challenges.
- General Atlantic Co-President Gabriel Caillaux highlighted the unprecedented closure of the IPO window in growth equity investing, prompting a need to reassess tactical approaches.
- The $1 trillion in unsold assets would have typically re-entered the market during a regular M&A cycle, but the current environment has led to a delay in this process.
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Startup Story
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Image Credit: Startup Story
Oben Electric Closes INR 100 Crore Series A Round to Accelerate Growth and Launch Affordable EV Platform
- Oben Electric, a Bengaluru-based electric motorcycle manufacturer, concluded its Series A funding with an additional ₹50 crore raised in May 2025, bringing the total funding to ₹100 crore.
- Existing investors and new backers, including Helios Holdings, the Sharda Family Office, and the Kay Family, participated in the latest funding round, showcasing confidence in Oben Electric's products and growth.
- The company expanded rapidly post-initial Series A funding, establishing 37 retail outlets across 26 cities in 13 states and plans to further expand to over 150 showrooms in 50+ cities by FY26.
- The fresh capital will support growth initiatives in scaling production, enhancing after-sales service, and developing the affordable 'O100' electric motorcycle platform targeted under ₹1 lakh.
- Madhumita Agrawal, the Founder & CEO of Oben Electric, expressed optimism about the extended funding round, emphasizing the company's vision of making electric mobility accessible to the masses through innovation.
- Sandesh from the Sharda Family Office praised Oben Electric for its strong market fit, rapid revenue growth, and vertical integration strategy, positioning the company well to establish a global electric motorcycle brand.
- Oben Electric's current product lineup includes the flagship Rorr and the entry-level Rorr EZ, priced starting at ₹99,999, offering impressive acceleration, top speed, and range powered by reliable LFP battery packs.
- The company plans to raise $30 million in a Series B round in 2025 to support international expansion and achieve its long-term goal of becoming a global electric motorcycle brand originating from India.
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Alleywatch
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Octaura Raises $46.5M to Digitize Electronic Trading in Syndicated Loan and CLO Markets
- Octaura raises $46.5 million to digitize electronic trading in syndicated loan and CLO markets, addressing inefficiencies and lack of liquidity in these markets.
- The platform combines real-time trading capabilities, data analytics, and connectivity solutions, capturing 4.6% of total secondary loan trading volume in just two years.
- Octaura offers an electronic trading platform for syndicated loans and CLOs, revolutionizing how these markets trade through improved accessibility and streamlined processes.
- The funding round was backed by investors like Moody’s Analytics, major banks, and new investors like Barclays, Deutsche Bank, and BNP Paribas.
- Octaura's business model includes transaction-based fees for its trading platform and subscription-based offerings for data and analytics products.
- The company plans to continue penetrating the leveraged loan market, launch its CLO trading platform, and develop innovative data and analytic solutions.
- Octaura's focus on addressing client challenges and the platform's proven use case were key factors that led investors to support its growth.
- The company aims to digitize the credit market through innovation, expanding its market share and product offerings in the coming months.
- Octaura's CEO, Brian Bejile, started the company to modernize electronic trading in syndicated loans and CLOs, inspired by his experience as a CLO trader.
- The platform has shown rapid growth, attracting dealers and buy-side firms and quickly capturing a significant percentage of market trading volume.
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Inc42
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Image Credit: Inc42
Urban Company Turns Profitable, Posts INR 240 Cr PAT In FY25
- Urban Company turned profitable in the financial year ended March 31, 2025 (FY25) with a net profit of INR 239.7 Cr, compared to a loss in FY24.
- The startup's operating revenue increased by 38.2% to INR 1,144.4 Cr in FY25 from INR 828 Cr in the previous fiscal year.
- Founded in 2014, Urban Company provides tech-enabled household services and has notable backers like Ratan Tata and Tiger Global.
- The company filed its draft red herring prospectus (DRHP) for a public issue of INR 1,900 Cr in April.
- Urban Company generates revenue through platform services, product sales, and international operations.
- Revenue sources include product sales of INR 304.2 Cr, service sales of INR 840.1 Cr, and other income, totaling INR 1,260.6 Cr for the year 2024-25.
- The startup also operates branches in UAE, Saudi Arabia, and Singapore, with international revenue contributing 12.8% to the total revenue.
- Expenses for Urban Company rose to INR 1,223.4 Cr in FY25, with the majority coming from other expenses, employee benefits, and purchase of stock-in-trade.
- The startup plans to raise INR 528 Cr through a fresh issue in its IPO, with proceeds allocated for technology development, office lease payments, and marketing.
- In preparation for the IPO, the founders sold shares worth INR 779 Cr in secondary deals between September 2024 and February 2025.
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