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Economic Times
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VCs sniff opportunity as petcare expands beyond food
- Pet adoption surge during the Covid-19 pandemic has led to increased interest from investors in the petcare startup space.
- Nestlé SA invested in Drools, making it a unicorn, while Supertails and Heads Up For Tails are also seeking funding rounds.
- Vetic secured a $26 million funding round, showcasing growing interest in veterinary care startups.
- The petcare market in India, valued at $3.5 billion, is expected to reach $7–7.5 billion by 2028, with various companies entering the space.
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Economic Times
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Dhan soon to turn unicorn with $200 million fundraise from ChrysCapital, Alpha Wave, MUFG
- Online stock trading platform Dhan is set to become a unicorn with a $190-200 million fundraise led by ChrysCapital, with Alpha Wave and MUFG participating.
- The funding round will value Dhan at $1.1 billion, making it the fifth unicorn of the year, including investors like Harsh Jain and the family office of Sunil Mittal.
- Google and Amazon may also invest in Dhan through a follow-on round, along with existing investors like Beenext and Mirae Asset Venture Investments.
- The fundraise will involve primary capital and secondary sales and is expected to close soon, after considering Sebi's regulatory changes on stock brokers.
- Dhan offers stock trading services to high-frequency traders, turning profitable in FY24 with significant revenue growth.
- Founded in 2021, Dhan saw substantial growth in active users, while its rival Groww is gearing up for a $1 billion IPO and a $200 million pre-IPO fundraise.
- The capital raise comes amidst regulatory changes affecting stock brokers, particularly in the futures and options segment, impacting revenue for many players.
- Dhan's focus on high-frequency traders and profitable business model have positioned it well in the competitive stock broking market.
- The increasing number of retail investors in India, driven by tech-savvy platforms like Dhan, Groww, and Zerodha, has reshaped the stock broking industry.
- Discount brokers like Dhan and Groww have disrupted traditional brokers' business models, capturing a substantial market share through their tech-driven approach.
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Economic Times
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Dhan closes in on $200 million fundraise from ChrysCap, Alpha Wave, MUFG
- Online stock trading and investment platform Dhan is closing a $190-200 million round, led by ChrysCapital and joined by Alpha Wave and MUFG.
- The funding includes a mix of primary capital and secondary sales, valuing Dhan at $1.1 billion, the fifth unicorn of the year in India.
- Tech giants Google and Amazon are considering investments in Dhan through a follow-on round, along with existing investors like Beenext and Mirae Asset Venture Investments.
- Dhan offers stock trading services to high-frequency and professional traders, with a significant user base and turning profitable in FY24.
- Founded in 2021 by Pravin Jadhav, Dhan has shown significant growth and aims to benchmark itself along public markets with the latest funding round.
- Competitors like Groww and Angel One are also making moves in the market with IPO plans and fundraise activities.
- The capital raise for Dhan comes amidst regulatory changes impacting the stock broking industry, with a focus on high-frequency users and a profitable business model.
- Industry experts highlight the growth of demat accounts in India and the increasing dominance of discount brokers like Dhan, Groww, and Zerodha in the space.
- Regulators are cautious about the rise in retail money in futures and options trading, prompting interventions to safeguard individual traders from losses.
- The stock broking industry in India is undergoing rapid evolution, driven by digital trends, regulatory changes, and the influx of new investors.
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Economic Times
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275
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Zetwerk sharpens focus on capital goods equipment business
- Zetwerk is focusing on manufacturing equipment and capital goods under the Zetwerk Electronics team to support process equipment and strengthen capabilities.
- In the next 12-18 months, Zetwerk expects 'meaningful traction' in the capital goods team with equipment for internal use initially, aiming at external business opportunities eventually.
- The company plans to develop, design, manufacture, and support capital goods such as jigs and fixtures, simple automation equipment, and test instrumentation for both internal and external customers.
- Foulger emphasized on building capabilities in-house to enhance production efficiency and serve customers better, focusing on tools like jigs and fixtures, automation equipment, and test solutions.
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Economic Times
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Buy-now-pay-later offerings wane as fintechs pivot to EMI loans, consumer credit
- Buy now, pay later (BNPL) services in the consumer fintech space are decreasing in popularity due to regulatory tightening and credit quality concerns.
- Fintech companies are shifting from BNPL models to equated monthly installment (EMI) lending to adhere to regulations and manage risks.
- Major players like PayU's LazyPay have transitioned to KYC-compliant EMI solutions, abandoning the previous BNPL model.
- Companies like Paytm and Mobikwik have discontinued their BNPL offerings and are focusing on transitioning users to longer-term EMI products for better risk management.
- Simpl is one of the few remaining players in the BNPL space, avoiding regulatory issues by not offering loans and focusing on trust-based payment models.
- Banks and NBFCs have also scaled back on BNPL services due to macroeconomic risks and growing unsecured lending portfolios.
- While the narrative of unsecured consumer credit growth in India prevails, the focus is shifting towards EMI-based products with robust risk management and full KYC compliance.
- The RBI is tightening regulatory oversight on fintech lending, urging a shift towards compliant and sustainable embedded finance solutions.
- "Pure-play BNPL without proper credit assessment or regulatory partnership is effectively dead", says a fintech founder who transitioned to EMI loans.
- The next phase of growth in India's consumer credit landscape is expected to be more regulated, measured, and tenure-driven.
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Siliconangle
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Hex raises $70M to expand AI-powered data analytics platform
- Hex Technologies Inc. raises $70 million in new funding to expand operations and enhance its AI-powered data analytics platform.
- Founded in 2020 by former Palantir Inc. employees, Hex offers a collaborative data workspace aimed at improving data utilization in organizations.
- Hex's platform features a notebook-based interface supporting SQL, Python, and no-code inputs, along with an App Builder for creating interactive data applications without additional coding.
- The new funding, totaling $70 million, brings Hex's total raised amount to $172 million, with notable customers including Reddit, Cisco, NBA, and others.
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TechCrunch
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Security startup Horizon3.ai is raising $100M in new round
- Cybersecurity startup Horizon3.ai aims to raise $100 million in a new funding round, having secured at least $73 million according to an SEC filing.
- NEA leads the funding round, with Horizon3.ai potentially being valued at over $750 million. The startup is said to generate around $30 million in annual recurring revenue.
- This marks NEA's second significant investment in a cybersecurity startup within a month, following a $108 million funding round for Veza.
- Founded in 2019, Horizon3.ai is known for its AI-powered autonomous threat detection tools and recently received FedRAMP authorization to sell to federal agencies, reporting impressive revenue growth.
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Gritdaily
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Epic Events and Pet Health Breakthroughs: Go Fund Yourself Season 2 Blasts Off with Purpose and Personality
- Season 2 of Go Fund Yourself has returned with a bang, featuring dynamic companies Bash Community and PawPro showcasing innovation and impact.
- Hosted by Rory Cutaia, David Meltzer, and Jayson Waller, the show blends entertainment with investment opportunities, mentorship, and visibility.
- Bash Community offers an event-planning platform for unforgettable moments, while PawPro focuses on revolutionizing animal wellness with a bacteria-based pet supplement line.
- The show emphasizes community, mentorship, and building lasting brands, showcasing the potential for growth and success for innovative startups.
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Pymnts
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Global Payments Divests Payroll Unit to Acrisure for $1.1 Billion
- Global Payments is divesting its payroll business for $1.1 billion to Acrisure, a Michigan-based FinTech company.
- The divestiture of Global Payments' payroll business is part of the company's strategy to simplify its operations and focus on being a leading commerce solutions provider.
- As part of the deal, Global Payments will maintain a commercial partnership with Acrisure to continue offering human capital management and payroll services to its merchant customers.
- Proceeds from the divestiture will be used to return capital to shareholders, with the deal expected to close in the second half of the year.
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TechCrunch
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Karat Financial is bringing business banking to creators
- Karat Financial, known for its credit cards for creators, is launching a creator-focused business banking product with Grasshopper.
- Creators face challenges with traditional banks when applying for business credit cards or opening accounts; Karat aims to address this issue.
- Karat has extended $1.5 billion in credit to creators, offering two tiers of business banking services including a free checking account with tax planning and a premium account with 2-3% APY.
- In the future, Karat plans to expand its services to provide insurance options for creators, aiming to enhance the financial safety net for self-employed individuals.
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Startup Pedia
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Unacademy founders Gaurav Munjal and Roman Saini to exit company, in talks to spin off Airlearn as new venture
- Unacademy co-founders Gaurav Munjal and Roman Saini are set to exit the company within the next 2-3 months.
- They are in talks with the board and investors to spin off Airlearn, Unacademy's language learning app, as a separate entity.
- Sumit Jain, co-founder of Unacademy's subsidiary Graphy, will take over as CEO of Unacademy.
- Unacademy plans for a succession strategy as Munjal and Saini are expected to leave post Airlearn spin-off, with a focus on reducing cash burn and improving financial performance.
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Hitconsultant
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AssistIQ Secures $11.5M to Transform Hospital Supply Chains with AI
- AssistIQ, an AI company, secures $11.5M in Series A funding round led by Battery Ventures to revolutionize hospitals' supply chains with AI.
- The platform captures every item used in operating and procedural rooms, helping healthcare facilities recover revenue, streamline operations, and enhance staff satisfaction.
- Using AI-powered computer vision technology, AssistIQ provides real-time visibility into surgical supply usage, reducing costs and enabling hospitals to recover missed revenue.
- Health systems like Northwell Health and Owensboro Health Regional Hospital are partnering with AssistIQ, reporting high charge capture rates and operational efficiencies.
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Medium
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Advanced Prompt Engineering Strategies to Grow Your AI-Powered Business in 2025
- Advanced prompt engineering involves strategic design of input instructions for generating consistent and actionable outputs from AI systems.
- Key strategies include chaining prompts for better control, using dynamic templates with variables, defining role-based prompts, and building AI-as-a-Service workflows.
- It is essential to simulate memory, test and debug prompts like a developer, inject commercial intent, and create/sell prompt libraries as digital products for monetization.
- AI prompt engineering is crucial for creating automated income systems, scalable content engines, and virtual workers tailored to specific needs, providing a competitive edge in various fields.
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Gritdaily
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Redefining Presence with Sonant Voice AI: How Independent Insurance Agents Can Reclaim Time Without Losing Touch
- Independent insurance agents are reevaluating the concept of 'being there' with the help of Sonant, a voice AI platform designed for agencies.
- Constant availability and responsiveness can hinder rather than help agencies, leading to a focus on more meaningful interactions over constant availability.
- Tools like Sonant aim to automate routine tasks to allow agents to focus on client relationships, strategic thinking, and efficient time management.
- The use of AI in the insurance industry is seen as a way to protect agents' time, improve efficiency, and create space for more valuable interactions, moving from burnout to balance.
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Unboxing Startups
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Wall Mount Sign Holder: Boost Startup Branding & Efficiency
- Using wall mount sign holders can help startups make a strong first impression and improve branding and efficiency.
- They aid in displaying logos, slogans, and organizing information, enhancing visibility and professionalism.
- Wall mount sign holders are versatile tools for communication and branding efforts in businesses.
- Acrylic wall mount sign holders are durable, aesthetically appealing, flexible, and offer clarity for effective communication.
- Choosing the right size and style, like 8.5 x 11 sign holders, is crucial for visibility and adaptability.
- Vertical sign holders can creatively serve purposes like directional signage, menu displays, event promotions, and artistic displays.
- Strategic placement and consistent messaging with sign holders can significantly boost brand visibility for startups.
- Implementing wall mount sign holders can enhance branding and operational efficiency for startups, creating a more professional business environment.
- Overall, these holders offer valuable assets for startup branding and organization of important information.
- Consider incorporating wall mount sign holders to elevate branding efforts and create a cohesive brand experience for customers.
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