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Yourstory
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Nykaa profit rises 66% to Rs 13 Cr, revenue up 24% in Q2
- Nykaa, the beauty and personal care marketplace, reported a 66% increase in net profit to Rs 12.97 crore in Q2 of FY25.
- FSN E-commerce Venture, the parent company of Nykaa, recorded a 24% rise in operating revenue at Rs 1,874.7 crore.
- The company achieved a 24% growth in gross merchandise value (GMV) at Rs 3,652 crore during the quarter.
- Nykaa's beauty vertical saw a 24% increase in revenue, driven by strong performance across omnichannel retail businesses, owned brands, and eB2B distribution.
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Eu-Startups
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Berlin-based KUGU secures €8.5 million to advance decarbonisation in real estate
- Berlin-based PropTech company KUGU raises €8.5 million in a Series A financing round.
- The funding will be used to advance decarbonisation in the real estate sector.
- KUGU offers digital solutions to optimize energy systems and reduce CO₂ emissions.
- The company manages over 12,000 buildings and plans to optimize 50,000 more.
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Yourstory
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NSE, Zomato ink pact to empower delivery partners with financial literacy
- The National Stock Exchange of India (NSE) has partnered with Zomato to promote financial literacy among gig economy workers.
- The partnership aims to launch a financial literacy drive for Zomato's delivery partners, impacting over 50,000 gig workers.
- The program will cover topics like personal finance management, budgeting, investing, debt management, and insurance.
- The initiative will be conducted in multiple regional languages for inclusivity and accessibility.
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VIE Stories
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Tramboo Sports Brings Kashmir Willow Bats To Shark Tank India
- Tramboo Sports is a sporting goods manufacturing company founded by Hamaad Tramboo and Saad Tramboo.
- The company sells high-quality Kashmir Willow cricket bats and aims to make cricket affordable and accessible for everyone.
- Tramboo Sports received a joint offer from Anupam and Vineeta, an individual offer from Aman Gupta, and a joint offer from Ritesh Agrawal and Peyush Bansal in an episode of Shark Tank India.
- They secured a deal with Peyush and Aman and received mentorship to grow their business.
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Eu-Startups
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London-based big xyt secures €10 million to expand AI-driven financial markets analytics globally
- London-based big xyt, an AI analytics provider for financial markets, secures €10 million in funding.
- The funding will support expansion into the US, Europe, and Asia-Pacific markets and hiring plans for 2025.
- big xyt offers scalable analytics solutions for major financial institutions, providing insights into trading environments and market trends.
- The investment will drive product innovation and help meet the rising demand for advanced analytics in the financial sector.
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Insider
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90
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London startup Agemo has exited stealth. Now, it's building AI reasoning for software to take on Poolside and Magic.
- Agemo has come out of stealth with $4m for building AI-driven software to Poolside and Magic.
- Its founders, Aymeric Zhuo and Osman Ramadan, want to tackle the problem of LLMs plateauing.
- Agemo wants to build a platform that aims to allow non-developers to autonomously develop software from text prompts.
- The funding was led by Firstminute Capital and Fly Ventures, and capital from DeepMind executive Mehdi Ghissassi and Datadog CEO Olivier Pomel.
- Agemo also differentiates itself from competitors by developing a neurosymbolic AI system for software reasoning.
- While current incumbents in the space deploy AI to help developers build code, Agemo wants to build a platform that actually understands software.
- Agemo is based in London, which it sees as a hotbed for AI talent.
- The company is currently preparing to release a platform called CodeWords.
- The next step is to go to market with a focus on building their software incrementally so that it can be enterprise-ready.
- Agemo raised modest sums from European investors (compared to OpenAI and Meta who raised a huge amount) has enabled Agemo to build a sustainable business.
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Inc42
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Nykaa’s Q2 Profit Zooms 66% To INR 13 Cr
- Nykaa’s net profit jumped by 66.3% in Q2 FY25 due to the strong growth in the beauty and personal care (BPC) sector despite the fashion industry delivering weaker figures.
- Nykaa has raised the number of cumulative customers for its sectors to 3.72 Cr in Q2 FY25, a YoY increase of 31%.
- The company’s gross merchandise value on its makeup has grown 24% YoY to INR 3,652.5 Cr.
- While the BPC vertical has experienced revenue acceleration of 24.3% YoY due to a surge in new customers, the fashion vertical experienced a revenue growth of 21.7% YoY with its GMV up 10%.
- Nykaa saw increased international business growth with INR 5.76 Cr being generated in Q2 FY25, despite incurring a loss of INR 6.63 Cr in overseas trade.
- Total expenses of the company increased by 23.7% YoY and 7.3% QoQ to INR 1,858.93 Cr due to rising employee benefit expenses and the company’s major purchase of trade goods.
- Nykaa also expanded its physical stores across India to expand its beauty offerings, with the physical channel contributing 8.2% to omnichannel beauty GMV.
- The company continued to deliver next-day delivery and same-day delivery logistics with 70% coverage across Top 110 cities.
- Nykaa is expected to continue to focus on quick deliveries for consumers.
- The company released its Q2 numbers after market hours and shares of Nykaa ended the trading session 2.66% lower at INR 177.65 on the BSE.
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Economic Times
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B2B startup StampMyVisa raises Rs 6.6 crore from Unicorn India Ventures
- StampMyVisa, the Mumbai-based start-up that streamlines and automates complex visa application processes for business travellers, has raised €770,000 ($900,000) in a pre-Series A funding round led by Unicorn India Ventures.
- The support of new funding, which will also come from other commercial sources, will be used to expand the company’s geographical coverage, enhance its artificial intelligence capabilities, and offer new services ensuring businesses can manage the visa process more easily from India.
- In addition to developing its existing proposition, StampMyVisa will be introduced a new insurance product which will provide users with visa fee refunds in the event of their document being rejected, as well as travel eSims.
- Founded in 2019, StampMyVisa uses proprietary technology to provide global B2B visa support, using a booking service with a user-friendly dashboard and requirements configurator.
- The platform enables travel agents, online travel aggregators, and other corporates to work with a streamlined visa application process, while also reducing errors and keeping the process as simple as possible.
- Business-to-business visa processing platform Atlys recently raised $20m in a series B funding round, demonstrating a rising interest in visa services among tech and fintech start-ups.
- Indian-based fintech firm Cred also received $215m in funding this week, taking its total valuation to $2.2bn.
- StampMyVisa claims it has grown by upwards of seven times since its founding and is looking to achieve a rate of one million visas issued annually over the next 12 to 18 months.
- StampMyVisa also reported that the total global e-visa market is expected to grow at a compounded annual growth rate of 11.1% reaching $2.4bn by 2032.
- Anil Joshi, managing partner of Unicorn India Ventures, said that 'StampMyVisa is filling a major gap in the fragmented B2B market by offering a transparent, efficient and future-proof platform.'
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Economic Times
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Swiggy’s IPO to unlock Rs 9,000 crore in Esop wealth for 5,000 employees
- Swiggy’s upcoming ₹11,300-crore IPO is set to unlock ₹9,000 crore in Esop wealth for 5,000 current and former employees, making it a landmark event in India’s startup ecosystem.
- Around 500 employees are expected to join the 'crorepati' club through this public offering. Founders and top management, including Sriharsha Majety, Nandan Reddy, and Phani Kishan Addepalli, hold Esops worth ₹2,600 crore.
- The IPO, subscribed 3.59 times, marks the largest tech listing since Paytm in 2019. This Esop liquidation is comparable only to Flipkart’s massive buybacks, underscoring Swiggy's success. Trading begins Wednesday, driven by strong institutional investor interest.
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TechJuice
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Shark Tank Pakistan: A Bold Attempt to Revitalize Entrepreneurship or a Missed Opportunity?
- Shark Tank Pakistan, launched by Grenlit Studios, aims to inspire and support Pakistan's startup ecosystem.
- However, the show's panel composition has left some viewers questioning its impact on local entrepreneurship.
- The panel is venture capital-heavy, lacking representation from diverse sectors of the Pakistani economy.
- By including industry leaders and diversifying the panel, Shark Tank Pakistan has the potential to make a greater impact.
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SiliconCanals
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Paris-based Trace For Good bags €3.5M to help companies better manage traceability and compliance data
- Paris-based Trace For Good has raised €3.5M in funding to expand its consumer goods activities in Europe and partner with Intertek.
- The funding round was led by Hi inov Dentressangle and Ankaa Ventures.
- Trace For Good offers a SaaS platform to help companies manage traceability and compliance data.
- The company aims to assist brands in achieving full supply chain traceability while reducing manual effort.
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Eu-Startups
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Munich-based tozero raises €11 million to expand recycled lithium production
- Munich-based battery recycling startup tozero has raised €11 million in a seed funding round.
- The funding round was led by NordicNinja, with participation from In-Q-Tel, Honda, and JGC Group.
- tozero focuses on sustainable lithium-ion battery recycling to address Europe's lithium supply gap.
- The funding will support the construction of an industrial-scale plant and expand production of recycled lithium.
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Eu-Startups
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Helsinki-based Maki.vc launches a €100 million fund for deep tech and brand-driven startups
- Helsinki-based venture capital firm Maki.vc has launched a €100 million fund to support deep tech and brand-driven startups in the Nordics and Northern Europe.
- The fund aims to invest in projects that align with environmental and social objectives, marking it as an Article 8 fund under EU sustainability regulations.
- Maki.vc has already made seven investments, including companies such as Distance Technologies, QMill, and Ever Cars.
- The fund benefits from a network of experienced advisors and has a focus on consumer and enterprise startups driven by scientific advances and deep customer understanding.
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Insider
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371
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Morgan Stanley partners with Carta to serve startup employees after lucrative IPOs
- Morgan Stanley has partnered with cap-table firm Carta to reach founders before they get rich.
- Carta will refer clients looking to go public to Morgan Stanley at Work.
- Morgan Stanley uses workplace services to get clients in the door while they're building wealth.
- This partnership is part of Morgan Stanley's effort to reach $10 trillion in client assets.
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Inc42
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79
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Gardening Startup Ugaoo Bags INR 47 Cr Led By V3 Ventures
- Urban gardening startup Ugaoo has raised INR 47 Cr (around $5.6 Mn) in a Series A funding round led by V3 Ventures.
- The funding will be used to expand its presence across 10 cities and launch 80 retail stores by FY 2030.
- Ugaoo offers a wide range of plants, gardening products, and accessories for home gardeners.
- The company has witnessed significant growth, with its revenue increasing from INR 24 Cr in FY 2023 to INR 63 Cr by the end of FY 2024.
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