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Weekly FIRGUN Newsletter – April 4 2025
- Israeli startups raised $2.1 billion in Q1 2025 with cybersecurity companies accounting for 50% of investments.
- Trump's global tariffs caused a $2.2 trillion market loss, and US stocks had their worst quarter since 2022.
- OpenAI raised $40 billion at a $300 billion valuation, while ChatGPT gained 20 million paid subscribers.
- Several Israeli startups secured significant funding, including Retym, Unframe AI, Hi Auto, Linguana, Conntour, and Autonomy AI.
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Startup Story
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Pratilipi Secures $20 Million in Series E Round Led by Jungle Ventures to Expand into US and New Storytelling Formats
- Indian language digital storytelling platform Pratilipi has raised $20 million in a Series E funding round led by Singapore-based Jungle Ventures to fuel international expansion, particularly in the United States, and explore new storytelling formats.
- The funding round included $12 million in primary investment and $8 million in secondary investment, bringing Pratilipi’s total funding to $108 million to date. The company's valuation dropped from $265 million to $100 million.
- Pratilipi plans to use this funding round as its final primary fundraising round before a planned IPO in 2026. Chinese investors Qiming Venture Partners and Shunwei Capital will exit the company as a part of this investment.
- With six business units and a successful freemium model generating significant revenue, the core online literature business of Pratilipi is now profitable and cash-flow positive, with a rise in revenue and a decrease in net loss.
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ISN
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'It's easy to criticise consumer internet startups in India...we created 1.5 lakh jobs—isn't that innovation': Zepto CEO on Goyal's remark
- VC-funded quick commerce unicorn Zepto CEO Aadit Palicha defends India's consumer internet startups.
- Palicha argues that consumer-facing internet businesses lay the groundwork for large-scale innovation.
- Palicha emphasizes the need for homegrown tech startups that generate substantial free cash flow and reinvest in cutting-edge research.
- Former Infosys CFO Mohandas Pai criticizes Piyush Goyal's remarks and highlights challenges faced by startups in India.
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ISN
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US-based Kenexai acquires Ridgeant India, expanding global data & AI consulting footprint
- US-based technology consulting firm Kenexai has acquired Ridgeant India, a technology consulting services provider based in Ahmedabad, India.
- The acquisition strengthens Kenexai's global expansion strategy and adds over 100 consultants to its team.
- Ridgeant India's expertise in technology consulting and its delivery center in Ahmedabad will enhance Kenexai's ability to offer end-to-end Data and AI solutions.
- Ahmedabad will become a key global hub for Kenexai's operations.
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Npengage
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5 Key Software Compliance Questions to Strengthen Your Approach
- Software compliance is crucial for organizations to abide by industry and security best practices in a digitally-driven world.
- Noncompliance can result in regulatory audits, fines, and damage to trust, money, and the future of an organization.
- Key questions for assessing software compliance include protection against fraud, adherence to privacy regulations, accessibility standards, mitigating cyber risks, and navigating future changes.
- Software should support fraud prevention, privacy regulations, accessibility, and cybersecurity best practices to ensure compliance and protect stakeholders.
- Compliance with privacy laws not only avoids legal issues but also enhances constituent relationships through transparent data usage.
- Accessibility compliance ensures inclusivity for individuals with disabilities and aligns with global standards like the Web Content Accessibility Guidelines.
- Mitigating cyber risks involves supplier partnerships, cybersecurity best practices, and employee training to enhance data security.
- Software suppliers should assist in navigating future compliance changes and adapting to evolving regulatory landscapes, such as those related to analytics and artificial intelligence.
- Choosing purpose-built software for social impact organizations can support compliance efforts and keep pace with evolving industry standards.
- Blackbaud highlights key areas of focus for compliance, including data privacy, cybersecurity, payments security, accessibility, and intelligence for good.
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Startup Story
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The Foundation for Health and Learning Empowerment (FHLE) Appoints Dr. Shrey Srivastav as Advisor
- The Foundation for Health and Learning Empowerment (FHLE) has appointed Dr. Shrey Srivastav as an Advisor.
- Dr. Srivastav is a highly respected general physician and health advocate with over seven years of experience in the medical field.
- His expertise spans various internal medicine disciplines, and he has treated numerous critically ill patients, demonstrating exceptional medical acumen and compassion.
- As the Founder & CEO of DOD (Doctors On Duty), a healthtech company, he is committed to providing accessible healthcare and is an implementation partner for healthcare support at FHLE.
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ISN
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Mumbai-based fintech startup Jai Kisan raises Rs 26.5 crore in funding: Report
- Mumbai-based fintech startup Jai Kisan has raised Rs 26.5 crore in funding.
- The extended Series B funding round was backed by existing investors Unitary Fund, Mirae Asset Venture Investments, and Blume Ventures.
- Jai Kisan offers digital credit and financing options to individuals and small businesses in India’s underserved agricultural and rural sectors.
- For the fiscal year ending March 2024, Jai Kisan reported operating revenue of Rs 39 crore, but posted a loss of Rs 51 crore.
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Startup Story
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InCred Alternative Investments Secures Rs 600 Crore for Inaugural Special Opportunities Fund-I
- InCred Alternative Investments has raised over Rs 600 crore for its special situations credit fund.
- The fund, InCred Special Opportunities Fund-I (ISOF-I), is designed to provide superior risk-adjusted returns.
- ISOF-I focuses on old economy sectors and a market-agnostic strategy for alpha generation.
- The fund aims to generate 21-23% returns by capitalizing on evolving market opportunities.
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Startup Pedia
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“Aman Gupta, change your perspective on investing in startups at Shark Tank”: Union Minister Piyush Goyal at Startup Mahakumbh 2025
- Union Minister Piyush Goyal urges Aman Gupta and other investors to support startups focused on deep-tech innovation.
- Goyal criticizes Shark Tank India for favoring D2C brands and lifestyle businesses over high-tech, scalable innovations.
- He emphasizes the importance of cutting-edge technology, manufacturing, and deep-tech sectors for long-term economic growth.
- Goyal encourages Indian startups to focus on high-tech areas like artificial intelligence, robotics, and deep-tech research.
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ISN
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Mumbai-based clean energy startup Aerem raises Rs 100 crore in funding
- Mumbai-based clean energy startup Aerem has raised Rs 100 crore in a Series A funding round.
- The funding was led by University of Tokyo Edge Capital (UTEC) and saw participation from other investors including SE Ventures and Blume Ventures.
- The funding will be used for expansion in underserved markets in India and to strengthen its solar financing platform and installer network.
- Aerem aims to simplify solar adoption for micro, small, and medium enterprises (MSMEs) and homeowners through its unified platform.
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Yourstory
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SROFT-DF launches India Fintech Foundation as it bats for RBI recognition
- The SRO-Fintech Development Foundation (SROFT-DF) launched India Fintech Foundation (IFF) at Startup Mahakumbh 2025.
- IFF aims to become one of the largest self-regulatory organizations in India and seeks recognition from the Reserve Bank of India (RBI).
- IFF's membership base includes fintech founders, industry experts, and former officials from RBI, SIDBI, and CERSAI.
- IFF's goal is to establish standards for responsible innovation, address the fragmented regulatory environment, and promote competition while protecting consumers.
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TechJuice
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Pakistani Startup Funding in Q1 2025 Hits Just $196,000 Amid Investor Caution
- Pakistani startup funding in Q1 2025 hits just $196,000 across three deals, reflecting investor caution.
- Only one of the deals was publicly disclosed, with Bank Alfalah investing $196,000 in fintech player Qist Bazaar.
- Gender distribution of startup founders securing funding in Q1 stands at 2:1 in favor of men.
- Experts cautiously optimistic that Pakistani startup funding could rebound in late 2025 with improved macroeconomic conditions and regulatory reforms.
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SiliconCanals
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Birmingham’s Grid Edge raises €3.3M to help businesses navigate energy price volatility
- Birmingham-based Grid Edge has raised €3.3M in funding to develop AI-powered software for reducing carbon emissions and energy costs in commercial buildings.
- The funding round was led by Mercia Ventures, with participation from Centrica, BP Ventures, and private investors.
- Grid Edge's platform helps customers cut costs, achieve sustainability targets, and navigate price fluctuations in energy prices.
- The company plans to expand its team and increase the number of locations using the funding.
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Yourstory
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With 20M active users, Navi looks to list by FY26; Jupiter to wait longer for IPO
- Fintech firm Navi, co-founded and led by Sachin Bansal, plans to go public by FY26 as it looks to raise more capital. Bansal revealed that Navi has 20 million monthly active users and 40 million users who have ever used the platform.
- Navi aims to leverage the public markets as the best source of capital. Meanwhile, Jitendra Gupta, the CEO of Jupiter, stated that public markets are still a distant proposition for his firm.
- During a panel discussion, Alok Bansal and Vijay Shekhar Sharma, founders of PB Fintech and Paytm respectively, discussed their post-IPO experiences. They revealed conducting numerous investor meetings to maintain investor interest and stabilize share prices.
- Alok Bansal enjoys explaining PB Fintech's unique business model to potential investors, particularly those unfamiliar with the company's approach. Vijay Shekhar Sharma emphasized that life gets more hectic after an IPO, but it allows companies to improve.
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Startup Pedia
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Bengaluru CEO Helps 67 Of 70 Laid-Off Employees Find New Jobs Through Leads & Referrals
- Harsh Pokharna, CEO and founder of OkCredit, helped 67 out of 70 laid-off employees find new jobs through leads and referrals.
- The Bengaluru-based company laid off 70 employees due to budget constraints.
- Pokharna took a humane approach and provided 3 months' notice, as well as referrals, intros, and job leads to support employees.
- For the 3 employees who didn't find new jobs, OkCredit provided 2 months' extra salary.
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