WiseLife Secures Funding to Elevate Yoga and Fitness Products
WiseLife, a brand focusing on yoga and home fitness essentials, has successfully raised Rs 8 crore in a pre-Series A funding round led by Rukam Capital. The brand gained significant attention after appearing on Shark Tank India Season 3, securing investments from all four sharks: Aman Gupta, Anupam Mittal, Ritesh Aggarwal, and Namita Thapar.
Previously, the startup acquired $145K in seed funding in September 2024.
The newly acquired funds will be directed towards establishing WiseLife as India’s premier brand for eco-friendly yoga mats and wellness products that skillfully combine unique design with affordability, as stated in a recent press release.
About WiseLife and Its Mission
Founded in 2022 by Prateek Kedia, WiseLife is committed to enhancing everyday wellness through thoughtfully designed yoga gear. The brand features a carefully selected range of biodegradable yoga mats, fitness equipment, and lifestyle accessories, all while prioritising durability, design, and sustainability at accessible price points.
Market Opportunity for Yoga Products
Market data indicates that India’s yoga mat market is anticipated to expand from $1.4 billion in 2024 to $2.2 billion by 2033. Meanwhile, the global market is projected to reach $26.5 billion by 2030.
Future Aspirations of WiseLife
WiseLife aims to explore innovative ideas and develop even more exceptional products and content for yoga and fitness enthusiasts. The brand is actively building a robust customer base and has plans to introduce new product lines, enhance content and community engagement, and broaden distribution in the upcoming year.
InPrime Finserv, a tech-enabled NBFC, has successfully acquired Rs 50 crore ($6.02 million) in a Series A1 funding round. This investment was spearheaded by Pravega Ventures, with involvement from current investors Z47, InfoEdge Ventures, and Kettleborough VC.
Previous Investment and Future Plans
The Bengaluru-based firm had earlier raised $4.55 million from its existing investors. The capital raised will facilitate their expansion into additional geographic areas, as stated by InPrime Finserv in a recent press release.
Focus on Informal Prime Households
Established in 2021 by Sneh Thakur, Manish Raj, and Rajat Singh, InPrime Finserv is dedicated to catering to India’s informal prime households. These households represent aspirational clients who possess steady incomes and a significant desire for upward mobility. This demographic encompasses micro and nano entrepreneurs, self-employed professionals, small business owners, as well as individuals involved in farming and related agricultural sectors.
Expansion Goals
Over the forthcoming year, the company is targeting expansion to approximately 50 new locations, effectively broadening its presence across Karnataka, Uttar Pradesh, Rajasthan, and Haryana.
Impact and Future Growth Strategy
Since its inception, InPrime Finserv claims to have supported over 7,500 households by offering nearly Rs 100 crores in credit to the emerging middle class. Additionally, the company is looking to explore strategic co-lending partnerships to enhance and diversify its capital base.
Square Yards is a proptech platform set to raise Rs 2,000 crore through an initial public offering (IPO), targeting a valuation of $1.5–2 billion, as per sources familiar with the situation.
Details of the IPO
This Gurugram-based company is currently finalising investment bankers and anticipates submitting its Draft Red Herring Prospectus (DRHP) within this financial year. The proposed Rs 2,000 crore IPO will feature equal division between primary and secondary offerings. A notable share of the funds is expected to provide an exit for early investors and to alleviate the company’s debt.
About Square Yards
Established in 2013, Square Yards is a comprehensive proptech platform that offers a wide range of real estate services. These services include property discovery, buying and selling, mortgage assistance, home furnishing, rentals, and property management. The platform operates in over 100 cities across nine nations, boasting a network of 150,000 agent partners.
Funding and Stakeholders
To date, Square Yards has raised a total of $96.5 million in funding, with Reliance Group being the primary investor, holding an 11% stake in the company. Furthermore, it has been reported that the founders of Square Yards are expected to retain more than 50% of the stake post-IPO.
Future Financial Goals
Square Yards has set an ambitious target of achieving Rs 2,000 crore in revenue and Rs 200 crore in EBITDA (Earnings Before Interest, Tax, Depreciation, and Amortisation) by the conclusion of the current fiscal year (FY26). In the preceding fiscal year, the company experienced a 40.9% year-on-year increase in operating revenue, reaching Rs 1,410 crore. Meanwhile, gross profits surged by 51.9%, amounting to Rs 316 crore in FY25, compared to Rs 208 crore in FY24.
Go Digit General Insurance Receives Relief from GST Demand
Go Digit General Insurance Receives Relief from GST Demand
Go Digit General Insurance has achieved significant relief as the Bombay High Court set aside a GST demand of Rs 170.29 crore raised by the Chennai South Commissionerate of GST and Central Excise. The ruling, dated July 4, encompasses Rs 154.8 crore attributed to alleged tax dues alongside Rs 15.48 crore in penalties, covering the period from July 2017 to March 2022.
In a filing to the National Stock Exchange (NSE), it was highlighted that the High Court acknowledged that the GST Council had already engaged with this industry-wide concern and released corresponding circulars. The court has now instructed the tax department to reassess the case, taking those guidelines into consideration, with an expectation to conclude the process within three months.
This news follows closely after Go Digit’s listing on the stock exchange, with the earlier tax demand addressed in its Red Herring Prospectus under “Material Tax Proceedings.” The company is currently evaluating its legal avenues and is awaiting the official court order.
Crucially, it was made known that this case is part of a larger issue impacting the insurance sector as a whole, and that there are no immediate financial repercussions resulting from the High Court’s ruling.
For the last quarter of the preceding fiscal year (Q4FY25), Go Digit General Insurance reported a notable 2.2X increase in profits, amounting to Rs 116 crore. Additionally, the total profits for the full fiscal year (FY25) surged by 133% to reach Rs 425 crore.
The company’s shares are trading at Rs 333.9 as of 11:25 AM, with a total market capitalisation of Rs 30,828 crore, equivalent to $3.6 billion.
Khetika: Clean-Label Food Company Raises $18 Million for Expansion
Khetika Secures $18 Million in Funding Round
Khetika, a clean-label food company from Mumbai, has successfully raised $18 million (Rs 153 crore) in a funding round, which was primarily led by the Narotam Sekhsaria Family Office in collaboration with Anicut Capital.
This funding round also welcomed contributions from existing backers such as Incofin India Progress Fund, Rajasthan Gum Pvt. Ltd., and Shree Ram India Gums Ltd.
As reported by ET, this funding round consisted of 70% primary capital, with the rest being secondary capital.
The funds will be allocated towards brand development, expansion both domestically and internationally, product innovation, and the establishment of new manufacturing units. Khetika is gearing up to penetrate markets in Europe, the Middle East, and the USA, in response to the rising demand for premium Indian food products globally.
About Khetika’s Offerings
Founded in 2017, Khetika operates in the staples sector, providing preservative-free products such as batters, spices, chutneys, millet-based foods, makhana, dry fruits, and rice.
The company sources its products directly from farmers across 14 Indian states, including Rajasthan, Gujarat, Punjab, Haryana, Andhra Pradesh, and Bihar. Currently, Khetika operates four manufacturing facilities throughout India.
Distribution Model of Khetika
Khetika employs an omnichannel distribution strategy, leveraging major e-commerce and quick commerce platforms while also maintaining a dedicated B2B supply network called SuperZop, which serves traditional kirana stores.
As kirana stores continue to be the predominant revenue channel for Khetika, quick commerce has made substantial contributions, accounting for 25% of overall sales, and is the fastest-growing segment for the company.
Eternal Appoints New CEO for Food Delivery Business
Foodtech leader Eternal, previously known as Zomato, has made a significant move by appointing Aditya Mangla as the Chief Executive Officer for its primary food delivery operations. Mangla’s appointment follows Rakesh Ranjan’s completion of a two-year tenure in the role. According to a regulatory filing, Eternal’s board sanctioned Mangla’s appointment on July 6 for a term lasting two years.
While Ranjan will step down from his position as a designated Senior Management Personnel (SMP), he will maintain his connection with the organisation.
Aditya Mangla’s Background
Aditya Mangla has been part of Eternal since March 2021 and has held various leadership positions spanning product development, supply chain management, and customer experience. Prior to his time at Zomato, he gained extensive experience in senior P&L and product roles within various startups and tech-focused companies.
Eternal’s Financial Performance
In the fourth quarter of FY25, Eternal experienced a remarkable 64% increase in revenue year-on-year, surging to Rs 5,833 crore from Rs 3,562 crore in Q4FY24. Additionally, the company reported a profit of Rs 39 crore during this period. Notably, the food delivery segment played a key role, contributing 35% to the overall operating income.
Market Insights
On the recent stock market close, shares of Eternal were priced at Rs 261.2, giving the firm a total market capitalisation of Rs 2,52,067 crore (approximately $29.6 billion).
Indian Startups Funding Overview – Week of $290.28 Million
Indian Startups Funding Overview
Indian startups have recently attracted significant attention as they secured a total of approximately $290.28 million during the week. This funding spanned across 9 growth-stage and 15 early-stage deals, while 2 startups opted not to disclose their funding amounts.
Growth-Stage Funding Insights
In the realm of growth and late-stage financing, a substantial amount of $258.5 million was raised, with B2B marketplace Jumbotail leading the pack by securing a remarkable $120 million round from SC Ventures, marking its entry into the unicorn club. Infra.Market followed with a $50 million debt injection from Mars Growth Capital. Additionally, consumer brand Eggoz and spiritual tech enterprise AppsForBharat each raised $20 million in their Series C rounds. Other noteworthy fundraises included D2C lab-grown diamond brand Aukera, NBFC FincFriends, sustainable packaging venture Bambrew, agri-tech company Eeki, and sports brand Agilitas Sports.
Early-Stage Investments
Early-stage startups collectively raised around $31.78 million, dominated by regulatory compliance platform Zango AI, which garnered $4.8 million in its Seed round led by Nexus Venture Partners. Deeptech startup Maieutic Semiconductor and fertility-tech company Luma Fertility also made headlines, alongside AjnaLens and B2B infrastructure platform Blostem, which also secured funding but did not disclose the amounts.
City-Wise and Segment-Wise Breakdown
Bengaluru-based startups led the week with 9 funding deals, closely followed by Delhi-NCR with 8 deals. Startups from Chennai, Mumbai, Thane, and other regions also bagged funding.
In terms of industry segments, e-commerce, foodtech, and deep tech startups each achieved 4 deals. AI startups followed with 3 deals, while fintech and biotech startups secured 2 deals each. Proptech, spiritual tech, agritech, and other startups also successfully raised funds this week.
Series-Wise Funding Breakdown
Seed funding led the overall funding structure with 10 deals, followed by pre-Series A with 5 deals. Series C, Series A, and Debt rounds also contributed to the overall fundraising landscape.
Weekly Funding Trend Analysis
Compared to the previous week, there was a marginal decline in startup funding of approximately 7%, dropping to $290.28 million from $312.69 million. The average funding over the last eight weeks stands at about $217.64 million, with around 23 deals per week.
Key Appointments and Departures
This week saw significant personnel changes within various firms. Fintech platform MobiKwik promoted Saurabh Dwivedi to CTO and Dhruv Wadhera to SVP, Offline Payments, to enhance their operational backbone. Meanwhile, IPO-bound company Pine Labs appointed Sameer Kamath as their new Chief Financial Officer. Glance appointed Amit Bansal to spearhead AI-led commerce initiatives with Roposo. Wellbeing Nutrition entrusted Varun Kandhari with the role of Chief Marketing and Growth Officer.
Mergers and Acquisitions
In notable acquisitions, Zoho Corporation has absorbed Kochi-based deeptech startup Asimov Robotics. Established in 2012, Asimov Robotics specializes in developing robotic solutions aimed at helping industries handle hazardous and repetitive tasks.
New Partnerships and Launches
Policybazaar has announced a partnership with Whilter.AI to enhance engagement levels, and TiE Bangalore has teamed up with the Aerospace India Association to support startup development.
Financial Results for the Week
Curefoods reported a revenue of Rs 746 crore in FY25, demonstrating a 95% growth in dessert-led income. Additionally, the virtual spiritual app Vama has seen its revenue double in FY25.
News Highlights
Meesho has filed a confidential DRHP to secure $500 million in primary capital. The government has updated ride-hailing regulations: introducing a 2X surge cap, cancellation fees, and promoting bike taxis. Indian startups raised $6.7 billion in H1 amidst IPO discussions according to the Startup Superb Report. Flipkart-backed logistics venture Shadowfax has also filed a confidential DRHP with SEBI. In the electric vehicle segment, TVS Motor Company has taken the lead in 2W sales for June, while Ola Electric continues to lag behind Bajaj, which is now in second place. UPI experienced a slight decrease in June, processing 18.4 billion transactions. Finally, Think360.ai, associated with CAMS, made it to the esteemed 2025 AIFinTech100 list by FinTech Global, showcasing its innovative contributions in financial services.
Swiggy Shares Sold by Citigroup Global Markets to BNP Paribas
Swiggy Shares Sold by Citigroup Global Markets to BNP Paribas
Swiggy’s shares have been sold by Citigroup Global Markets, the brokerage and investment banking branch of Citigroup Inc., to BNP Paribas Financial Markets, the investment division of the notable French banking firm BNP Paribas, through a block deal.
Citi has liquidated 320,000 shares at a price of Rs 381 each to BNP Paribas Financial Markets, which totals Rs 12.2 crore based on data obtained from the stock exchange regarding bulk transactions.
This transaction occurs after it has been announced that Swiggy plans to discontinue its digital storefront platform, Minis, by August 10. The Minis platform has not been visible on the Swiggy application for more than a year, indicating a potential gradual shutdown. This digital storefront provided various categories, including home-cooked meals, artisanal gifts, and baking necessities.
In the last quarter of the financial year concluding March 31, 2025, Swiggy reported a revenue of Rs 4,410 crore, alongside a loss of Rs 1,081 crore during the same timeframe. The food delivery segment plays a crucial role as a revenue source for Swiggy, accounting for 37% of the total revenue, with quick commerce following closely behind.
Currently, Swiggy’s stock is being traded at Rs 392.2 (as of 11:42 AM), with a total market capitalisation of Rs 96,030 crore.
NoPaperForms Transforms into Public Company Ahead of IPO
NoPaperForms Transforms into Public Company Ahead of IPO
NoPaperForms, backed by Info Edge, is now officially a public entity and is preparing for a stock exchange listing shortly. The board of NoPaperForms has sanctioned a resolution to alter its status into a public company and has changed its name from “NoPaperForms Solutions Private Limited” to “NoPaperForms Solutions Limited”, as stated in a regulatory filing from the Registrar of Companies (RoC).
The Gurugram-based SaaS firm has engaged IIFL Capital and SBI Capital as its investment bankers. According to media reports, NoPaperForms is anticipated to file for an Initial Public Offering (IPO) worth Rs 500-600 crore at a valuation of Rs 2,000 crore ($235 million) by the close of 2025.
About NoPaperForms
Established in 2017 by Naveen Goyal, NoPaperForms serves as a vertical SaaS and embedded payments platform tailored for educational institutions. The platform provides a variety of services through its signature products, “Meritto,” which assists educational institutions in managing student recruitment, leads, applications, communication, and analytics seamlessly, and “Collexo,” a fee management system designed for easy fee collection, flexible payment plans, and real-time financial tracking.
Company Ownership Structure
As per data from various startup platforms, Info Edge currently possesses a 47.9% stake in NoPaperForms, followed by founder Naveen Goyal, who holds a 30.17% stake.
Financial Performance
NoPaperForms achieved profitability in the fiscal year ending March 2024, reporting a profit of Rs 4 lakh, a significant turnaround from a Rs 15.6 crore loss in FY23. This positive outcome was fuelled by a 45% increase in operating revenue, climbing from Rs 48 crore to Rs 70 crore in FY24.
Market Context
With this transition, NoPaperForms is set to join the ranks of other Indian startups that have recently become public companies, including notable names like Amagi, Dairy company Milky Mist, and fintech leaders PhonePe, Pine Labs, Razorpay, and Meesho, which has also filed its Draft Red Herring Prospectus (DRHP) following a recent reverse merger.
EaseMyTrip’s co-founder and executive director, Prashant Pitti, has pledged a considerable portion of his holding in the company. A recent regulatory filing with the Bombay Stock Exchange (BSE) revealed that Pitti has pledged 9 crore shares to Motilal Oswal Financial Services. This action represents a significant portion of his stake.
Details of the Pledge
The pledge was made on June 26, 2025, for undisclosed personal use. The lack of clarity regarding the personal use raises concerns among investors regarding promoter liquidity and the stability of future shareholding. The pledged shares account for roughly 2.54% of EaseMyTrip’s total equity, based on the company’s outstanding shares. At the current market rate, the value of these pledged shares is estimated at approximately Rs 94.5 crore.
Company’s Clarification on Betting Platforms
This development follows EaseMyTrip’s recent efforts to distance itself from any betting platforms. In April, the company publicly denied any affiliation with the Mahadev Betting App after authorities conducted searches associated with the case. EaseMyTrip confirmed its commitment to ethical business practices and stated that it is fully cooperating with all relevant authorities.
Financial Performance Overview
The online travel aggregator’s revenue experienced a slight decline, standing at Rs 139 crore in Q4FY25, down from Rs 164 crore in Q4FY24. For the entire fiscal year (FY25), the revenue from operations remained stable at Rs 587 crore. The company’s profits before tax were reported at Rs 143 crore in FY25.
Current Trading Performance
EaseMyTrip is currently trading at Rs 10.43 as of 10.53 AM today, with an estimated total market capitalization of Rs 3,696 crore, which is approximately $435 million.
