From PhonePe submitting confidential IPO papers to Good Capital closing a $30 million second fund to again AI-driven startups, YourStory brings you at present’s headlines with the most recent developments throughout sectors.
Featured tales
From promoting posters in Delhi’s footpaths to constructing a gifting empire: 46 years of Archies
Earlier than Instagram reels and WhatsApp ahead needs turned the norm, millennials had greeting playing cards and slam books—the place our college reminiscences and feelings rising up had been shared, cherished, and thoroughly tucked away.
For millennials, on the coronary heart of all these exchanges, feelings, and reminiscences was one model—. What began with a single poster on the footpaths of Delhi’s Connaught Place has grown right into a gifting powerhouse, adapting to altering shopper developments and preferences, retail challenges, and now increasing into international markets.
In accordance with Archies, its complete revenue from operations for FY25 stood at Rs 69.70 crore. It’s now taking a look at scaling international operations, with a concentrate on cultural choices. Learn extra
This agritech startup bets on hydrogen-powered light-weight drones to spice up agriculture
In 2021, engineering batchmates Vinay Yadav and Hitesh Borana co-founded agritech startup Visron to help farmers in Uttar Pradesh and Rajasthan. However the duo encountered many challenges whereas working with battery-powered drones.
The next 12 months, Yadav and Borana, the COO, pivoted their agritech startup right into a deeptech enterprise, specializing in hydrogen-powered drones. In the present day, their 22-member group operates out of a producing facility at their headquarters in Jhalawar. Learn extra.
Newest information
PhonePe recordsdata confidential IPO papers, plans to boost Rs 12,000 Cr
Walmart-owned digital funds main confidentially filed a pre-filed DRHP with the SEBI and inventory exchanges, because it gears up for one in every of India’s largest preliminary public choices. This permits PhonePe to have interaction with regulators and obtain suggestions earlier than releasing trade-sensitive monetary particulars to the general public.
In the meantime, one other Bengaluru fintech firm, Groww—which took an analogous route in Could this 12 months—is now lastly transferring forward with its IPO plans and has launched an up to date DRHP. Learn extra.
Allen appoints Rakesh Ranjan as CEO of digital arm Allen On-line
has named Rakesh Ranjan because the CEO of Allen On-line, its digital training platform. Ranjan will lead the institute’s digital technique, specializing in scaling technology- and AI-enabled studying options.
“India‘s large training deficit can solely be solved with the usage of know-how. We have to unlock each youngster’s potential by delivering high quality studying outcomes at scale,” stated Nitin Kukreja, CEO, Allen Profession Institute. Learn extra
Funding information
Good Capital raises $30M in ultimate shut of second fund to again AI-driven startups
Early-stage VC agency raised $30 million (~Rs 260 crore) within the ultimate shut of its second fund, which it launched in 2023 to boost $35 million initially.
The VC agency, which has backed firms like ecommerce platform Meesho and diagnostics lab chain Orange Well being, has secured commitments largely from household places of work throughout Asia and Europe.
With the shut of this fund, it’s seeking to double down on its technique to put money into new-age and technology-first startups with a concentrate on AI-driven firms.
Good Capital has already begun dispersing cash from this fund in immediate pharmacy supply startup Rio, digital freight forwarding platform Xhipment, and shopper home equipment agency Nuuk, amongst others. Learn extra.
Y Combinator-backed Gullak raises $7.5M
Bengaluru-based digital-gold fintech Gullak secured $7.5 million in Sequence A funding, betting that India’s centuries-old obsession with gold may be reshaped for the smartphone age.
The spherical was led by Chiratae Ventures, with participation from White Enterprise Capital, Samved Ventures, and present buyers Y Combinator, GMO Fintech Fund, and Insurgent Fund.
Gullak plans to deploy the capital primarily for model constructing, growth into Tier II and III cities, and deepening partnerships with main jewellers to develop progressive options for India’s gold consumers. Learn extra.
Oolka raises $7M funding for its agentic credit score assistant
Bengaluru-based Oolka raised $7 million in a seed spherical led by Lightspeed India Companions and Z47, with participation from 8i Ventures and a roster of angel buyers, together with Meesho’s Vidit Aatrey and Sanjeev Barnwal, and M2P’s Madhusudanan R.
Oolka will use the recent capital to rent in engineering and information science departments and develop new AI instruments, together with voice-based companies.
“In the long term, what we see is a mega alternative to construct a real AI distribution play after which cross-sell totally different merchandise identical to any fintech distribution arm that has been there within the nation,” stated Utkrishta Kumar, Founding father of Oolka. Learn extra.
P-TAL raises $3M in Sequence A spherical
P-TAL (Punjab Thathera Artwork Legacy), a handcrafted copper, brass, and bronze model, raised $3 million in a Sequence A funding spherical to develop its presence in India, speed up worldwide progress, product improvement, provide chain enhancements, and artisan empowerment.
The spherical was led by VC Grid, with participation from Ekamya Ventures, the Salarpuria Group, LNB Group, Rainmatter (backed by Zerodha’s Nithin Kamath), and different household places of work and founders.
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(L-R) Aditya Agrawal (Co-founder and CEO), Kirti Goel (Co-founder and COO), Gaurav Garg (Co-founder and CPO)
” model=”float: proper; margin-left: 20px; width:50%; peak:auto”> (L-R) Aditya Agrawal (Co-founder and CEO), Kirti Goel (Co-founder and COO), Gaurav Garg (Co-founder and CPO)
US-based Connecticut Improvements additionally joined the spherical, marking its first funding in an Indian firm. Different buyers included Anicut Capital, Zero Pearl VC, Jaipur Rugs Household Workplace, Ramakant Sharma (Livspace), Sanjay Kapoor (Genesis Luxurious), Avnish Anand (Caratlane), Shibam Das (Atomberg), and Dr Ritesh Malik (Innov8).
Exports presently account for over 55% of P-TAL’s enterprise, with key markets within the US, UK, Europe, and the Center East.
Since its final fundraise, P-TAL’s income has grown from Rs 5 crore ARR to Rs 50 crore ARR. The corporate now targets Rs 150 crore ARR inside the subsequent 12 months.
Xbattery raises $2.3M seed funding
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Hyderabad-based deeptech startup Xbattery raised $2.3 million in seed funding led by the Bipin Patel Household Workplace, with participation from Jhaveri Credit.
It can use the funds for R&D, {hardware} sourcing, group growth, and scaling prototypes towards commercialisation.
Based in 2024 by Satish Reddy, Sonu Mishra, and Varshith Rao, Xbattery develops Battery Administration Methods (BMS) and Battery Vitality Storage Methods (BESS) for electrical autos and renewable power purposes.
The corporate goals to offer cost-effective home options to imported BMS applied sciences, specializing in enhancing security, effectivity, and sturdiness.
(This text might be up to date with the most recent information all through the day.)
Edited by Suman Singh
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