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Startup News
Medium
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The VC Secondaries Mirage
- 71% of exit dollars in 2024 came from secondaries, not IPOs or M&A.
- Secondary activity is primarily limited to pre-IPO unicorns, GP-led secondaries, and Tier 1 funds.
- For the majority of venture-backed companies, secondaries are not a viable option.
- The need for more solutions, innovation, and transparency in liquidity design is crucial.
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ISN
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Zaggle buys 51% stake in Hyderabad-based billing software company EffiaSoft
- Zaggle is set to acquire a 51% stake in billing software company EffiaSoft for Rs 41.31 crore.
- Zaggle will buy a 45.33% stake for Rs 36.72 crore in cash from shareholders and founders of EffiaSoft.
- The remaining 5.67% stake will be acquired for Rs 4.59 crore, with the payment method to be announced later.
- This strategic acquisition will allow Zaggle to enhance its fintech ecosystem and drive digital transformation.
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Inc42
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How 9AI Is Automating Workflows For Indian Enterprises
- 9AI, a startup, is focusing on developing AI tools to automate workflows for Indian enterprises and is offering tailored solutions based on GenAI for personalized experiences and enhanced decision-making.
- The startup aims to help businesses operate more efficiently by leveraging AI for decision-making and innovation, providing automation tools that can automate entire processes with minimal disruption in industry-specific workflows.
- 9AI combines deeptech R&D with AI and agile operational practices on its SaaS platform to automate complex workflows and improve decision-making accuracy, reducing processing times and human errors.
- It offers revenue models including outsourcing, agency, and partnership models, with the partnership model contributing 40% of the startup's revenue.
- The startup, backed by iStart Rajasthan, generated INR 5 Cr in revenue in FY24 and anticipates a 4-6x jump in the current financial year.
- 9AI's tools cover enterprise solutions, AI agents for multi-channel services, LLM fine-tuning, visual data analysis, document processing, data solutions, ML training, and open-source integration.
- The startup is looking to focus on breakthrough innovations in GenAI and deeptech, expand its team, strengthen partnerships, set up an AI research facility, and eye overseas expansion and global partnerships.
- As enterprise adoption of AI grows at scale, companies like 9AI can build an automation-led digital transformation ecosystem, tapping into the growing intelligent process automation market.
- 9AI aims to stay ahead in the evolving AI landscape, catering to vertical AI trends and enterprise tools while continuing to innovate and attract investments for sustainable growth and profitability.
- As India positions itself as a global AI hub, the future will test how well 9AI can adapt, innovate, and establish its niche in this fast-evolving industry.
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Inc42
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CERT-In Warns Users Against ‘Vulnerabilities’ In AI Apps
- The Indian Computer Emergency Response Team (CERT-In) has warned against vulnerabilities in AI design, training, and interaction mechanisms.
- Users are advised to consider using an anonymous account not linked to personal or professional identity when signing up for AI apps.
- The vulnerabilities include data poisoning, adversarial attacks, model inversion, prompt injection, and hallucination exploitation.
- Threat actors can create fake AI apps to trick users into downloading malware and stealing data.
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Insider
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I spent 11 hours at a legal tech conference, and the takeaway was clear: 'Lawyers need to wake up' and use AI
- The potential of artificial intelligence to reshape the legal profession emerged as a key theme at Legalweek, an annual gathering of thousands of legal professionals in New York City.
- Speakers at the conference warned that lawyers must adopt new technology or risk being left behind.
- Many law firms and corporate lawyers have started using AI to deliver better, faster, and cheaper services.
- Younger lawyers are more likely to embrace new tech, and law firms that fail to do so may struggle to attract top talent.
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Startup Story
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How to Choose the Best Investment Plan for Long-Term Wealth?
- Investing for long-term success is essential for a financially secure future, but finding the best investment plan can be challenging with numerous options available.
- Key factors to consider include risk tolerance, return expectations, and investment horizon in choosing a suitable long-term investment plan.
- Assessing financial goals is the first step to aligning an investment plan with objectives such as retirement, education, or homeownership.
- Understanding risk appetite helps in determining the level of risk one is comfortable with and avoiding investments beyond that threshold.
- Researching diverse investment options in India, ranging from mutual funds to fixed deposits, helps in making informed decisions aligned with individual goals.
- Considering the time horizon is crucial, as longer investments allow for more compounding and potential to weather market fluctuations.
- Diversifying the investment portfolio across different asset classes can help minimize losses and optimize returns over the long term.
- Evaluating historical performance of investments provides insights into past returns and volatility, though it does not guarantee future performance.
- Understanding costs and fees associated with investment plans is essential to maximize net returns, as high fees can erode profits over time.
- Factoring in tax benefits under sections like 80C and 10(10D) helps optimize returns and build wealth faster through tax-efficient investments.
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Yourstory
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Govt implements comprehensive technical, legal measures to deal with cyberattacks: Vaishnaw
- The government has implemented comprehensive technical and legal measures to deal with cyberattacks, according to Electronics and IT Minister Ashwini Vaishnaw.
- Vaishnaw stated that the government is creating awareness among people to prepare them for dealing with cyberattacks.
- India's ranking in the global cybersecurity index has improved from 30-40 to the top 10.
- The government has established various entities such as Indian Cybercrime Coordination Centre (I4C), National Cyber Security Coordinator (NCSC), and National Critical Information Infrastructure Protection Centre (NCIIPC) to address cyber security challenges.
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ISN
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O’Be Cocktails, which raised funding from Bhavish Aggarwal, shuts operations
- Bengaluru-based startup O’Be Cocktails has shut down its operations after more than five years in the market.
- Despite struggling to stay afloat, O’Be Cocktails had a network of distributors and government contracts.
- The startup explored the possibility of a sale but ultimately decided to cease operations.
- O’Be Cocktails had raised funding from investors and expanded its presence in multiple states.
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Inc42
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Florintree Dumps ideaForge Shares Worth INR 70 Cr
- Florintree Enterprise LLP has offloaded over 20.18 Lakh shares of ideaForge, representing about 4.7% of the stake in the company.
- The deals were conducted through a mix of bulk and block deals, amounting to INR 69.62 Cr.
- Shares were sold at a floor price of INR 344.95 per share.
- The stock of ideaForge has been underperforming and has witnessed steep declines in the past months.
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Dev
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Why Node.js is the Go-To Backend Technology for Modern Startups
- Node.js is a go-to backend technology for modern startups due to its speed, efficiency, and scalability.
- It is built on Google's V8 engine, which compiles JavaScript directly to machine code, offering fast execution.
- With a unified tech stack using JavaScript on both frontend and backend, Node.js enables faster development cycles.
- Node.js supports real-time capabilities and is suitable for use cases like messaging apps, SPAs, RESTful APIs, and e-commerce backend systems.
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Inc42
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From smallcase To Lendingkart — Indian Startups Raised $144 Mn This Week
- The last week of March witnessed significant investment activity in the Indian startup ecosystem with startups netting a total of $143.7 million, 32% more than the previous week.
- A total of 16 funding deals took place, with fintech dominating the funding trends by raising $98.1 million across five startups.
- Key highlights include smallcase securing $50 million in a Series D round and Lendingkart raising $29.5 million in a Series E round led by Fullerton Financial Holdings.
- Other notable funding rounds included Abound, Outplay, Grow Indigo, Dozee, and Firefly Diamonds among others.
- The funding trends also saw active participation from investors like ah! Ventures, Accel, SenseAI Ventures, and more, with four startups at the seed stage securing $18.6 million this week.
- In terms of acquisitions, Observe.AI acquired Dubdub.ai, JungleWorks acquired Outplay, and Groyyo bought a stake in Oussum Inc.
- SEBI kept WeWork India's IPO papers temporarily on hold, while Meesho, Cult.fit, and other startups made progress towards their respective IPOs.
- Other key developments included 2am VC2 launching its second fund, Pluckk aiming to raise $10 million in Series A, and KRAFTON's India arm increasing its shareholding in Nautilus Mobile.
- Several funding activities were also announced, with Apna Mart set to raise $25 million, Country Delight raising $25 million, and Groww in talks to secure $200 million at a valuation of $6.5 billion before its IPO.
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Inc42
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259
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Delhi HC Temporarily Injuncts Use Of Bharapay Trademark
- The Delhi High Court has temporarily injuncted the use of Bharatpay's trademark.
- The court found phonetic, visual, and structural similarities between BharatPe and Bharatpay trademarks.
- A prima facie case of trademark infringement and passing off was made in favor of BharatPe.
- The court restrained Bharatpay from using the trademark and domain name www.bharatpay.net.
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Startup Pedia
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The Indian Finance Market: Decoded By Growth-stage Fintech Fund Founder
- The Indian fintech market is experiencing rapid growth, with estimates suggesting it will reach USD 420 billion by 2029 at a CAGR of 31%.
- Sagar Agarwal, a fintech entrepreneur, founded BEAMS Fintech Fund in 2019 to support growth-stage fintech companies in India.
- BEAMS is India's first growth-stage fintech and financial services-focused fund, with Rs 900 crore in Assets Under Management (AUM) by 2024.
- BEAMS has invested in companies like Niyo, Credgenics, Infinity Fincorp, InsuranceDekho, and ProgCap.
- Fintech expert Sagar Agarwal highlights the growth and importance of fintech solutions in India's financial market.
- Fintech solutions in India cover payments, banking, insurance, wealth management, digital lending, and credit.
- Tier II cities in India are rapidly adopting fintech solutions due to the e-commerce boom and rising disposable incomes.
- Embedded finance involves offering financial services products during the delivery of non-financial products or services.
- BEAMS Fintech Fund focuses on financial inclusion, with investments in companies like Niyo and ProgCap that cater to diverse financial needs.
- Challenges in financial solutions for Tier II and III cities include lack of financial awareness, credit history issues, and high cost of capital.
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Yourstory
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Stories that stay: 7 books that are truly unforgettable
- The Night Circus by Erin Morgenstern is a beautifully written novel that feels like a dream, transporting readers into a world of magic and wonder.
- The Shadow of the Wind by Carlos Ruiz Zafón is a literary thriller set in post-war Barcelona, filled with vivid descriptions that bring the city and its mysteries to life.
- A Little Life by Hanya Yanagihara is a devastating and breathtaking novel that explores trauma, resilience, and the enduring power of love in the lives of four friends in New York.
- The House of the Spirits by Isabel Allende is a sweeping saga of love, politics, and magic, blending reality with elements of magical realism and spanning generations.
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Medium
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The Teen Entrepreneur Who Made $10,000 in 5 Hours Predicting Tweet Success
- 17-year-old Eddy Xu made $10,000 in 5 hours with his AI-powered tool called Crowd Test.
- Within 24 hours of launch, Eddy's revenue reached $30,000.
- Crowd Test provides predictive analysis of tweet performance before posting.
- With a price of $1,000 per month, Crowd Test offers a 24-hour money-back guarantee and personalized support.
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