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Startup News
Inc42
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AgroStar Bags INR 58 Cr From Accel India, Others
- Agritech startup AgroStar has raised INR 57.6 Cr (around $6.7 Mn) in a funding round led by Accel India.
- Existing investor Accel India led the round, with participation from Aavishkaar India, Bertelsmann, Evolvence India, Chiratae Ventures, and Hero Enterprises.
- AgroStar leverages data and technology to bridge the knowledge gap and provide access to good-quality agri-inputs for farmers.
- The company operates in 11 Indian states, serving over 9 million farmers with its digital farmer network and agri-input platform.
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Yourstory
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128
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NPCI to decide on UPI merchant transaction limits, says RBI Governor
- The Reserve Bank of India (RBI) will allow the National Payments Corporation of India (NPCI) to revise the transaction limits for UPI payments made to merchants.
- The move is aimed at making the digital payments system more responsive to the economy’s needs.
- The new policy framework gives NPCI greater flexibility in calibrating limits for person-to-merchant (P2M) payments.
- However, limits on person-to-person (P2P) UPI payments will remain unchanged.
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Fintechreview
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Stripe’s Success Story: Redefining Online Payments for the Digital Economy
- Stripe, founded in 2010 by Patrick and John Collison, revolutionized online payments by simplifying the process for developers.
- Stripe's success was driven by offering clean APIs, targeting developers and focusing on solving the core issue of online payments efficiently.
- They expanded strategically with products like Stripe Connect, Atlas, and Stripe Terminal, catering to various business needs with precision.
- Key partnerships with tech giants like Amazon and Google helped Stripe scale globally and embed its infrastructure in major platforms.
- Acquiring Paystack in 2020 marked Stripe's entry into Africa, proving its intent to become a global fintech leader.
- Stripe's innovation continued with AI integration for fraud detection and reintroduction of crypto payments using stablecoins on various networks.
- Stripe's API architecture, designed for the web, has been a cornerstone of its success, ensuring speed, flexibility, and ease of integration for developers.
- The company's steady growth, processing $1.4 trillion in payments in 2024, solidified its position as one of the most valuable private fintech companies.
- Operating in over 40 countries and supporting various currencies and payment methods, Stripe's global presence and continuous innovation are key to its success.
- Stripe's role extends beyond payments as it shapes the infrastructure of digital commerce, becoming a trusted and integral part of the internet economy.
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Yourstory
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2
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Zepto gets close to $4 billion in annualised gross order value
- Quick commerce unicorn Zepto is nearing $4 billion in annualised gross order value (GOV), marking a 4x year-over-year growth and 30% rise since January.
- Zepto Co-founder and CEO Aadit Palicha expressed confidence in being close to achieving EBITDA and operating cash flow breakeven within a few months, with reduced losses and improved cash flow.
- Zepto's newly launched dark stores are moving towards EBITDA breakeven, while the company considers the GOV of fruits and vegetables, subscription, and advertising as part of its overall revenue.
- Zepto Cafe has achieved a significant milestone by crossing 100,000 orders per day, with a gross margin of about 50% and a growing annualized GMV run-rate of $100 million.
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Startup Pedia
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297
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Social Gaming Startup Eloelo Raises Rs. 114 Cr After Reporting Zero Revenue And Rs 99 Cr Loss In FY24
- Bengaluru-based social gaming startup Eloelo reported zero operating revenue and Rs. 99 Crore loss in FY24.
- The startup raised Rs 114 crore in a fresh Series B funding round led by Play Ventures, with participation from existing backers Westbridge and Kalaari.
- Eloelo blends interactive gaming with creator-led live content, targeting Gen Z audiences, and aims to make its presence in India's online gaming industry.
- The startup had previously raised over $50 million in total funding, including a $22 million pre-Series B round led by Courtside Ventures and Griffin Gaming Partners.
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Insider
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Fintech startup Ryft just raised $7.3 million to help marketplaces split payments. Here's its pitch deck.
- UK fintech startup Ryft has raised $7.3 million in Series A funding to expand its payment-splitting platform into new markets.
- Ryft provides tools for marketplaces, booking apps, and food delivery services to manage multi-party payments for what the startup calls "commerce 2.0".
- The funding round was led by EdenBase and included participation from GPOS Investments, British Business Bank, and others.
- Ryft is planning expansion into the EU and the US, focusing on international growth, hiring, and launching omnichannel payments.
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Yourstory
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How FinRight is making PF withdrawals easy and error-free
- FinRight, a fintech startup founded by Amey Kanekar, aims to simplify the process of PF withdrawals and transfers, addressing issues like high rejection rates and lack of transparency.
- The platform provides a seamless digital experience through AI-driven automation and expert guidance, streamlining PF claims and reducing dependency on traditional intermediaries.
- During FY23, around 25.8% of PF withdrawal and transfer claims were rejected, highlighting the need for a more efficient solution like FinRight.
- FinRight's AI-driven model facilitates real-time eligibility assessment, error flagging, and expedited approvals, aiming to reduce rejection rates caused by incorrect details and missing documents.
- The startup directly interfaces with government systems, allowing users to complete the process with minimal paperwork, real-time tracking, and transparent status updates.
- In addition to PF services, FinRight offers assistance in insurance claims, home loan transfers, and optimizing in-hand salary, focusing on solving underserved financial problems.
- Operating on a fixed-fee model, FinRight has helped over 7,000 customers withdraw their PF, assisting in over 15,000 claims valued at Rs 300 crore since its inception.
- The startup plans to expand its services beyond PF withdrawals, aiming to address broader financial challenges like taxation, investments, and estate planning.
- FinRight is in discussions to raise $1.5 million to support its growth and innovation in providing intelligent financial solutions to users within a holistic financial ecosystem.
- Founded by Kanekar and joined by Akash Shah, FinRight differentiates itself with a fixed-fee model and a focus on real, impactful solutions in the personal finance sector.
- With an emphasis on transparency, efficiency, and customer-centric solutions, FinRight aims to revolutionize the way individuals manage their savings and investments in the financial landscape.
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Inc42
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Govt To Launch Incentive Scheme For Critical Minerals This Year
- The Indian government plans to launch an incentive scheme for the recycling of critical minerals, including lithium and cobalt.
- The scheme may offer subsidies on capital expenditure or production-linked incentives.
- It aims to scale up India's capacity to recycle lithium-ion batteries and meet the country's net-zero greenhouse gas emissions targets.
- The government has also proposed a policy shift to enable private entities to undertake large-scale early-stage exploration for critical minerals.
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Medium
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Andreessen’s $20 Billion AI Mega fund Is More Than a Bet — It’s a Blueprint for the Future of…
- Venture capital firm Andreessen Horowitz is raising a $20 billion fund to invest in US-based AI companies.
- This move is a signal that the old scale of venture capital is no longer enough for the future of AI.
- Andreessen's fund aims to offer startups not only capital but also distribution, relationships, political proximity, and cultural cachet.
- This strategic fund may redefine the role of venture firms in the era of strategic capital.
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Medium
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267
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Hola Health secures $10 million led by Woolworths Group subsidiary
- Hola Health, an Australian telehealth platform, has secured $10 million in funding led by a subsidiary of Woolworths Group.
- Since its launch in 2022, Hola Health has facilitated over 1 million telehealth consultations for nearly 600,000 Australians.
- The platform connects patients with healthcare professionals within 15 minutes, operating 24/7.
- Hola Health's partnerships include Health Engine, HotDoc, Med Advisor, Symbion, TerryWhite, UberEats, and DoorDash.
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Economic Times
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Zepto nears $4 billion annualised GOV, halves OCF burn rate
- Zepto's CEO Aadit Palicha announced that the company's annualized gross order value (GOV) is nearing $4 billion.
- The company has achieved a ~300% year-on-year growth and ~30% growth since January.
- Zepto has successfully reduced its EBITDA and OCF burn rate by 50% in the past three months.
- The company is confident in reaching EBITDA and OCF breakeven within a few months.
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Inc42
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309
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SEBI👍BlueStone & Aye Finance IPOs, Ola Electric Answers Back & More
- SEBI has approved the IPO plans of BlueStone and Aye Finance amid global market turmoil.
- BlueStone's IPO includes a fresh issue of INR 1,000 Cr shares and an OFS component, while Aye Finance's offer consists of a fresh issue of INR 885 Cr.
- BlueStone saw a 64% YoY revenue growth in FY24, with narrowed losses, while Aye Finance's net profit surged 37% YoY in the first six months of FY25.
- SEBI approval comes at a challenging time for stock markets with Indian indices down 10% since December.
- Macro headwinds may lead companies to delay filing their RHPs, reflecting caution seen in Ather Energy's case.
- Ola Electric clarified February sales data controversy, Neo Group marked first close of Fund II at INR 2,000 Cr, and Scripbox eyes $20 Mn fundraise.
- Jio Finance diversifies loan offerings, Q-Comm players under CCI scanner, Eloelo and Eat Better secure fundings, while Hypergro automates video ad creation with AI.
- Hypergro, eyeing a $3 Mn revenue target by FY26, aims to leverage AI to make a global impact in the hyper-personalised video ads space.
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Startup Pedia
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“As of Now, It is a No to BYD”: Union Minister Piyush Goyal Restricts Market Access to the Chinese EV Giant
- The Indian government has not approved BYD's proposed $1 billion investment in the country due to security and investment concerns.
- Officials raised red flags over Chinese control of key auto tech infrastructure amid ongoing tensions between the two nations.
- In contrast, India has signalled a green light to Tesla, with policy shifts designed to attract the EV giant to set up shop domestically.
- India's aim is to increase the share of electric vehicles in total vehicle sales to 30% by 2030 and collaborations with global leaders like Tesla are seen as pivotal in achieving this target.
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Yourstory
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191
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The evolution of entry-level jobs; Infra.Market gears up for $700M IPO
- Hope is the fuel of progress as the global economy waits for US negotiations on tariffs, easing tension in the stock market.
- Indian benchmark indices rise amidst optimism despite trade war concerns, with startups like BlueStone and Aye Finance planning IPOs.
- Colossal Biosciences' claim of bringing back dire wolves raises debate among experts.
- Entry-level job requirements have evolved to demand AI proficiency, technical skills, and soft skills like adaptability and communication.
- Infra.Market prepares for a $700M IPO with an expected valuation target of $3-5 billion, reflecting strong growth and increasing project opportunities.
- Spinny reports a rise in online used car sales, highlighting consumer preference for transparent online purchases and financing challenges.
- Amazon introduces a new Gen AI model, Meta expands safety measures for teenagers on Instagram, and Emirates President warns about the impact of global tariffs on the aviation industry.
- The invention of Velcro was inspired by burdock burrs, observed by Swiss engineer George de Mestral.
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Yourstory
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80
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Construction-tech company Infra.Market gears up for $700M IPO as private labels drive growth
- Infra.Market, a construction-tech company, is gearing up for a $700 million IPO with a valuation target of $3-5 billion, expected to file its draft prospectus by June.
- The company raised over $120 million in a pre-IPO funding round in January, bringing its total funding to $487 million, with private labels driving growth.
- Infra.Market manufactures and supplies building materials across 15 categories under its own brands, focusing on private labels that contribute 64% of revenue.
- Founded in 2016, it operated profitably for three years before raising capital in 2019 and has over 250 tech-integrated manufacturing plants in 55+ cities.
- The company's revenue from operations grew 23% in FY24 to Rs 14,530 crore, with plans to achieve a revenue of Rs 18,000 crore in FY25 driven by private-label manufacturing.
- Infra.Market's expansion includes acquisitions like RDC Concrete and Shalimar Paints, with a focus on automation in supply chain and manufacturing processes.
- The digital infrastructure of Infra.Market leverages AI-driven automation to ensure demand planning, quality control, pricing transparency, and supply predictability.
- As the company prepares for its IPO, it aims to build India's first multi-product, multi-channel building materials platform, emphasizing increasing wallet share from existing projects.
- Infra.Market's recent $120 million pre-IPO funding round will strengthen its balance sheet and enhance working capital, with a focus on paying off debts and business expansion.
- The company's focus on efficiency, customer value, and strategic growth opportunities showcases investor confidence and future prospects in the construction industry.
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