StartupSuperb

Tag: Funding

  • Durlabh Darshan Poised to Secure Million Investment from Prime VP

    Durlabh Darshan Poised to Secure $2 Million Investment from Prime VP



    Durlabh Darshan Secures Funding in Spiritual Tech Startup


    Durlabh Darshan Secures $2 Million in Funding

    Durlabh Darshan, a spiritual startup, is preparing to raise $2 million in its inaugural institutional funding round, according to sources familiar with the situation. The Bhopal-based company is joining a growing array of startups within the spiritual tech industry that have successfully obtained funding in recent years.

    Funding Details

    As shared by an anonymous source, Prime Venture Partners is currently in discussions to lead a new funding round for Durlabh Darshan. The specifics of the deal have been finalised, paving the way for the expected investment.

    Earlier in 2022, Durlabh Darshan secured Rs 7.45 crore from various individual investors, including Saurav Jindal, Deepak Garg, Gaurav Raizada, Jasvir Singh, and Nitesh Gupta. However, this funding was not reported in the media.

    About Durlabh Darshan

    Founded in 2024 by Prashan Kumar Mishra, Durlabh Darshan offers 3D 360° darshan journeys of prominent Hindu temples and rituals, including Kashi Vishwanath in Varanasi, Mahakaleshwar in Ujjain, and Vaishno Devi in Katra.

    According to information on the company’s website, Durlabh Darshan’s journey began with a patent for an affordable XR controller designed for smartphones. The company features Durlabh Darshan Kendras, which are physical centres located in temple towns, alongside online services that provide VR headset sessions and home-viewing kits. Bookings for in-person VR shows such as the Bhasma Aarti in Ujjain start at Rs 150-250.

    Market Valuation

    Sources indicate that Durlabh Darshan is likely to be valued at below $10 million post-money. Startup Superb has made inquiries to both Prime Venture Partners and Durlabh Darshan for further comments.

    Competition in Spiritual Tech

    Durlabh Darshan competes with companies such as Temple 360, Who VR, and the Pilgrimage Tour app. Data indicates that the astro and spiritual tech sector, comprising startups like AstroTalk, Vama, Ustav App, DevDham, InstaAstro, and Melooha, has raised over $75 million collectively in the last two and a half years.

    The sector has also experienced consolidation, exemplified by BrahmVeda’s acquisition of Vedvaani and Melooha’s takeover of Munitalks. There are reports suggesting that e-commerce giant Flipkart is considering entering the astrology and devotion market through a potential acquisition of InstaAstro.


  • OpenAI Seeks Massive Investment from Saudi Arabia, UAE, and India’s Reliance for AI Growth: Report

    OpenAI Seeks Massive Investment from Saudi Arabia, UAE, and India’s Reliance for AI Growth: Report






    OpenAI’s $40 Billion Fundraising Initiative

    OpenAI’s $40 Billion Fundraising Initiative

    OpenAI, known for developing ChatGPT, is currently engaged in advanced discussions with sovereign wealth funds and major corporations, such as Saudi Arabia’s Public Investment Fund (PIF), India’s Reliance Industries, and MGX from the UAE, as part of a substantial $40 billion fundraising initiative, as reported by The Information.

    Investment Details and Partners

    The potential investments may see these partners each contributing several hundred million dollars, according to sources familiar with the negotiations. This financing round is predominantly led by Japan’s SoftBank and is designed to propel OpenAI’s ambitious efforts in advanced AI model creation and its extensive infrastructure plan, known as Stargate.

    Global Fundraising Efforts

    OpenAI CEO Sam Altman has been travelling around the world to secure funding. Earlier this year, he held a significant meeting with India’s IT Minister to explore joint ventures aimed at establishing an affordable AI ecosystem. Sources have indicated that Altman also plans to visit the UAE to connect with MGX, one of the primary investment entities in the Gulf region, to discuss potential funding.

    Additional Funding and Future Plans

    The company, which is supported by Microsoft, is also reportedly negotiating to obtain at least $100 million each from US-based firms Coatue Management and Founders Fund. Furthermore, OpenAI anticipates raising an additional $17 billion by 2027, signalling that its long-term capital strategy is continuing to evolve.


  • PowerUp Money Secures .1 Million Investment Led by Accel and Blume

    PowerUp Money Secures $7.1 Million Investment Led by Accel and Blume


    Wealthtech Startup PowerUp Money Secures $7.1 Million in Funding

    Wealthtech Startup PowerUp Money Secures $7.1 Million in Funding

    Wealthtech startup PowerUp Money has successfully raised $7.1 million in its initial institutional funding round, which was spearheaded by Accel, Blume Ventures, and Kae Capital, with additional support from 8i Ventures and DeVC.

    The funds will enhance its research capabilities, facilitate the development of new advisory products, and expand customer acquisition strategies.

    PowerUp Money and Its Offerings

    Founded in April by Prateek Jindal, who was a co-founder of Uni Cards, PowerUp Money is designed to assist users in managing their finances. The platform features tools like “Power Age,” which illustrates when users can attain financial independence and how much they need to save. It also enables direct mutual fund investments alongside advisory support for retail investors through its mobile platform.

    Subscription Models and Growth

    The startup is launching both free and paid subscription options. As stated by the company, Power Mutual Funds is now managing over Rs 3,000 crore (~$350 million) in assets for more than 25,000 customers, demonstrating robust month-on-month growth.

    Evolution from Incubation to Independence

    Originally incubated within Uni Cards, PowerUp Money has transitioned into an independent venture following this recent funding round. Reports indicate that Jindal has been focusing on this new project since October 2023.

    The Wider Wealthtech Landscape in India

    In light of PowerUp Money’s emergence, numerous Indian wealthtech startups—including Neo, Dezerv, Centricity, Stable Money, Fisdom, Univest, InvestorAi, and Wealthy—have collectively raised nearly $250 million across 15 funding deals since PowerUp’s inception in October 2023.

  • Rapido Secures ₹125 Crore Investment from Nexus Ventures

    Rapido Secures ₹125 Crore Investment from Nexus Ventures



    Rapido Secures Rs 125 Crore in Series E Funding

    Rapido Secures Rs 125 Crore in Series E Funding

    Mobility firm Rapido is poised to raise Rs 125 crore (approximately $15 million) from Nexus Ventures as part of its Series E funding round. The board at Rapido has approved a special resolution to issue 23,872 Series E preference shares at an issue price of Rs 52,467 each to secure this funding, according to the company’s regulatory filing sourced from the Registrar of Companies.

    Funding Details and Company Valuation

    The ride-hailing application is expected to secure $200 million in its Series E funding round, bringing the company’s valuation to $1.1 billion. This investment follows a Rs 250 crore infusion from Prosus, which was also a participant in the Series E round.

    Expansion into Food Delivery Sector

    This funding aligns with Rapido’s strategic plans to launch into the food delivery market via a new platform that will impose a fixed fee per order on restaurants, as reported by Reuters. This strategic move will enable the company to compete directly with major players like Swiggy and Zomato, which is owned by Eternal.

    Performance Metrics

    On May 24, 2025, Rapido announced it had completed 4 million rides in just one day, and currently averages around 3.5 million rides daily. Moreover, the company has recorded impressive growth with a year-on-year increase of 46.3%, leading to a revenue of Rs 648 crore in the fiscal year ending March 2024. Additionally, Rapido has succeeded in reducing its losses by 45%, bringing them down to Rs 371 crore during the same timeframe.


  • Kazam Gears Up for Million Series B Funding Round in Electric Mobility Space

    Kazam Gears Up for $6 Million Series B Funding Round in Electric Mobility Space


    Kazam Secures Rs 51 Crore in Series B Funding Round

    Electric mobility startup Kazam is in the process of raising Rs 51 crore (approximately $6 million) through its Series B funding round, which is being led by Vertex Ventures. Other participants in this round include Avaana Capital and Chakra Growth Capital.

    The board at Kazam has approved a special resolution to issue 36,410 Series B compulsory convertible preference shares at an issue price of $165.06 each to secure the stated amount, as revealed in its regulatory filing to the Registrar of Companies (RoC).

    Vertex Ventures, represented by IFC VVSEA Co-Invest LP and the Vertex Ventures SEA Fund, will jointly invest $4.9 million. Meanwhile, Avaana Capital and Chakra Growth Capital will contribute $1.01 million and $0.9 million, respectively.

    As per estimates from Startup Superb, the valuation of the company post-allotment is expected to be around $51 million.

    Utilization of Funds

    Kazam intends to use the raised funds for business growth, expansion initiatives, and general corporate purposes. Following this funding round, Vertex Ventures and IFC VVSEA Co-Invest will collectively hold a 22.89% stake in the company, while Avaana Capital and Chakra Growth Capital will own stakes of 17.02% and 1.51%, respectively.

    About Kazam

    Founded in 2020 by Akshay Shekhar and Vaibhav Tyagi, Kazam operates as an EV charging software platform that develops smart and cost-effective charging networks. The company’s technology supports a variety of vehicles, including two-wheelers, commercial electric vehicles (CEVs), three-wheelers, and city buses. Kazam claims to facilitate over 25,000 charging points.

    Partnerships and Financial Performance

    Bengaluru-based Kazam collaborates with renowned brands such as BigBasket, Zypp, Mahindra, Bajaj, Ather, TVS, Hero MotoCorp, and Ultraviolette.

    The company has yet to submit its annual results for FY25. According to various sources on the startup data intelligence platform, its revenue from operations saw a significant increase of 3.3X, amounting to Rs 12.19 crore for the fiscal year that ended in March 2024, while losses were reported at Rs 10.2 crore during the same period.

  • Investment Buzz: Indian Startup Scene Highlights (June 2 – June 7)

    Investment Buzz: Indian Startup Scene Highlights (June 2 – June 7)



    Startup Funding in India: Key Insights and Trends


    Startup Funding in India: Key Insights and Trends

    During the recent week, Indian startups secured nearly $216.19 million in funding, comprising 7 growth-stage and 12 early-stage deals. Additionally, 2 startups opted not to disclose their funding amounts. In contrast, the prior week saw 19 startups raise around $205.76 million across the early and growth stages.

    Growth-Stage Funding

    Growth and late-stage funding amounted to almost $193.26 million this week. This was primarily driven by Syfe, a wealth management platform, which raised $80 million in its Series C round. The D2C men’swear brand Snitch followed with a $40 million Series B round facilitated by 360 One Asset. B2B e-commerce platform Udaan also made headlines by closing its Series G round at $114 million, accumulating an additional $39 million after a previous raise of $75 million. Other fintech startups such as Stable Money, Loantap, Decentro, and the feminine care brand Plush also obtained funding this week.

    Early-Stage Funding

    In the realm of early-stage investments, 12 startups gathered a total of $22.93 million. Notably, an education loan marketplace topped the early-stage funding with a $5.8 million Series A round. Other significant raises included Stride Green, a Climate Tech startup, the wellness and longevity brand True Diamond, foodtech startup Naagin, fintech firm Spense, and sneaker brand Gully Labs. The homegrown pickleball gear brand ServeClub and the dronetech startup AVPL International also achieved funding, although the amounts remained undisclosed.

    City and Segment-wise Insights

    Bengaluru-based startups led the city-wise funding with 10 deals, trailed by Delhi-NCR with 6 deals. Startups in Mumbai, Pune, and Chennai also secured various funding rounds.

    Segment-wise, the fintech sector dominated with 6 deals, while e-commerce firms followed closely with 4 deals. Startups in foodtech, healthtech, climate tech, AI, and other technologies also received funding.

    Series-wise Insights

    In terms of series-wise funding, Seed funding led with 8 deals, followed by Series B, pre-seed, pre-Series A, Series C, and others.

    Week-on-Week Funding Trends

    Startup funding showed a consistent trend at $216.19 million this week compared to approximately $205.76 million gathered in the previous week. The average funding over the past eight weeks is around $202.42 million, with an average of 23 deals each week.

    Key Hirings and Departures

    This week marked 6 significant appointments across various firms. Probo appointed Shimal Kapoor as head of policy to enhance regulatory interactions and aid policy development within India’s skill-based gaming domain. Bessemer Venture Partners welcomed Pankaj Mitra as a Partner in its India team. Simplilearn reinstated Jitendra Kumar as CTO to lead AI integration efforts. Steptrade Share Services, registered with SEBI as an investment management entity, announced the addition of Mr. Kamal Bansal, former MD of GVFL, to its Advisory Board.

    Additionally, there were some notable departures. A senior executive from Zepto resigned to join Apollo brands, while Vivek Gupta stepped down from his position as CTO of CoinDCX after five years with the company.

    Mergers and Acquisitions

    Agritech platform DeHaat acquired NEERX’s real-time soil and weather monitoring technology for an undisclosed amount. This acquisition integrates NEERX’s capabilities, such as satellite imagery and cloud-based analytics, into the DeHaat platform. Nazara Technologies announced the takeover of Smaaash Entertainment, a sports entertainment startup that filed for bankruptcy, through an NCLT-sanctioned insolvency resolution process.

    New Fund Launches

    HealthKois, a healthcare-focused investment firm, debuted with a target corpus of $300 million, including a $100 million green shoe option. Inflexor Ventures aims to secure the first closing of its $150 million Fund III by the end of Q2 FY26. The global investor network VNTR plans to introduce a $5 million fund targeting late-stage to early-stage startups in sectors like fintech, healthtech, climate tech, deep tech, and AI.

    Potential Deals

    Vecmocon is preparing to raise $8.7 million, while Tessellate Ventures is exiting with a 10X return. Scaler is set to raise $40 million at a lowered valuation. Additionally, Bloom Hotels plans to gather $9 million in a new funding round, while Anant Goel’s Handpickd is also raising new funds. Pepperfry is looking to secure fresh investments from existing backers.

    New Launches and Partnerships

    BimaPay Finsure has rolled out premium financing solutions tailored for corporate insurance policies. Inka is partnering with Growfitter to co-develop a wellness scoring system for insurance. MiStay is collaborating with HyperGuest to modernize hourly hotel bookings, while Refrens has introduced an AI accounting agent named FREYA. Policybazaar has launched ‘Saarthi,’ an elder care initiative aimed at supporting senior citizens.

    This Week’s Financial Results

    Digit Life Insurance reported a revenue exceeding Rs 1,300 crore in FY 2024-25, marking its first complete year of operations and serving 6.7 million customers.

    Current News Highlights

    Lenskart is preparing for its IPO by converting into a public entity. Capillary Tech’s board has approved a Rs 2,250 crore IPO, doubling its ESOP pool. Hyundai and Kia’s sale of a Rs 690 crore stake in Ola Electric has occurred, with most buyers remaining undisclosed. The fintech unicorn Moneyview is transitioning into a public company ahead of its IPO. PhonePe has acquired GSPay IP from GupShup for UPI functionality on feature phones. Flipkart has received an NBFC licence from the RBI, enabling it to provide loans directly. Wise has received in-principle approval for operations as a cross-border payment aggregator. Grocery startup KiranaPro encountered a cyberattack prior to its fundraising campaign, resulting in halted operations. Accel has sold BlackBuck shares worth Rs 203.8 crore. Afthonia Labs has onboarded 7 innovative fintech startups, reinforcing its commitment to green finance and cybersecurity. Prosus concluded its first FoundHER Challenge, providing $100,000 in equity-free funding to four women-led startups in India.

    Startup funding has remained stable at $216.19 million compared to the previous week’s $205.76 million. Hyundai Motor and Kia Corporation fully divested from Ola Electric, selling their entire stake for Rs 690 crore through block deals, marking a strategic exit from their investment in India’s electric vehicle sector. Flipkart has officially obtained an NBFC licence from the Reserve Bank of India, expanding its services into loan offerings following its recent entry into UPI-based payments. Capillary Technologies has granted its board approval for a Rs 2,250 crore ($265 million) IPO, increasing its ESOP pool significantly ahead of the listing. Both omnichannel eyewear retailer Lenskart and fintech unicorn Moneyview are gearing up for their initial public offerings after converting from private to public status following board approvals. Go Digit Life Insurance has recorded a gross written premium of Rs 1,315.9 crore in FY25, a significant increase from Rs 492.5 crore the previous year.

    Afthonia Labs has nurtured seven startups in its latest rolling cohort, focusing on green finance and cybersecurity, supporting its mission of fintech innovation. The newly incubated startups include Investplus, RIU, Sathpay, Ingood, Funbook, Fincraft, and Mantech Studio. Meanwhile, regulatory filings accessed by Startup Superb indicate that various startups, including vehicle intelligence company Vecmocon Technologies and Delhi-based hospitality chain Bloom Hotels, are in the process of raising significant capital.


  • “Rethinking India’s Investment: An IITian’s Take on Funding Priorities Over IPL”

    “Rethinking India’s Investment: An IITian’s Take on Funding Priorities Over IPL”



    India’s Investment in Cricket vs Science: A Rising Concern


    India’s Investment in Cricket vs Science: A Rising Concern

    India’s devotion to cricket significantly outweighs its financial commitment to science, prompting critical discussions. Career coach Virendra Grover, referencing IISc professor Mayank Shrivastava, points out that revenues from the IPL alone could finance ten new IITs if appropriately taxed and redirected for research purposes.

    The Disparity in Funding

    In a recent LinkedIn post, Grover underscores Shrivastava’s main assertion: India is not short of funds but rather lacks the resolve to invest in its scientific future. Shrivastava highlights the disparity in how the country supports its sports and scientific sectors, stating, “Entertainment enjoys subsidies while research is taxed.”

    Financial Insights

    The data supports this perspective. The IPL in 2023 generated ₹11,770 crore, with the BCCI reporting a surplus of ₹5,120 crore. Over the course of three years, profits exceeded ₹15,000 crore. According to Shrivastava, imposing a 40% tax on these profits could finance ten new IITs or yield ₹6,000 crore annually for research—however, the BCCI is exempt from income tax due to its charitable status.

    Questions Raised

    Meanwhile, research laboratories are subject to GST on equipment imports. Grover queries: Why are match tickets exempt from taxes while scientific instruments face such charges? Additionally, why do institutions that strive to propel India forward grapple with financial limitations?

    The Current State of R&D Spending

    India’s expenditure on R&D hovers around 0.6–0.7% of its GDP, significantly trailing the global average of 2.6%. In contrast, the U.S. allocates 3.5%, China 2.4%, and South Korea 5%. Notably, half of India’s R&D budget still relies on government funding, with limited contributions from the private sector.

    Call for Balance

    While Grover does not oppose sports or entertainment in any way, he advocates for a more balanced approach. These funds, he asserts, could also aid in enhancing income opportunities for the economically disadvantaged.

    A Message on Inequality

    In addressing concerns about inequality, Grover’s message is unequivocal: Do not target the top 1%. Instead, focus on uplifting those in need.

    As India revels in its cricketing triumphs, Grover and Shrivastava encourage a parallel investment in what drives sustainable long-term progress—science, research, and education.


  • Pepperfry Set to Raise New Capital from Current Investors

    Pepperfry Set to Raise New Capital from Current Investors



    Pepperfry Secures Rs 43.3 Crore in Latest Funding Round

    Pepperfry Secures Rs 43.3 Crore in Latest Funding Round

    Omnichannel furniture brand Pepperfry is securing Rs 43.3 crore (approximately $5.1 million) from its existing investors, including the General Electric Pension Fund, Norwest Venture Partners, Goldman Sachs, Panthera Growth Partners, and others. This funding comes on the heels of a $23 million round raised in September 2023 by the same group of investors.

    The board at Pepperfry approved a resolution to issue 5,59,463 compulsory convertible preference shares at an issue price of Rs 775 each to raise the stated amount, as indicated by regulatory filings obtained from the Registrar of Companies (RoC). General Electric will lead this funding round with an investment of Rs 21.5 crore ($2.5 million), followed closely by Norwest Venture Partners and Panthera Growth Partners, who will contribute Rs 8.52 crore and Rs 6.45 crore respectively to increase their stakes within the company. The remainder of the funding will be provided by Goldman Sachs, Erste WV Gutersloh GmbH and Growth Equity Opportunity Fund Cayman Holdings Ltd.

    As per the filing, Pepperfry will utilize the proceeds from this funding round for its growth initiatives, expansion plans, and general corporate purposes. Startup Superb estimates suggest that the valuation for Pepperfry will reach Rs 3,120 crore or $367 million post-allotment.

    Pepperfry operates using a marketplace model, facilitating both online and offline shopping experiences. With a catalogue boasting over 10,000 products, it links customers to prominent brands such as Godrej, Springfit, and Spacewood. The company proudly claims to have a retail presence with more than 200 studios across over 100 cities.

    According to various sources within the startup data intelligence sector, the Mumbai-based company has successfully raised over $270 million to date, attracting investments from Norwest Venture Partners, General Electric, Broad Street Investment, Pidilite, and others.

    For the fiscal year ending March 2024, Pepperfry’s operating revenue experienced a decline of 30%, landing at Rs 189 crore, while the company managed to narrow its losses by over 37% to Rs 117.5 crore during the same timeframe.

    Pepperfry faces competition from other well-funded furniture brands such as Reliance-acquired Urban Ladder, which has secured over $100 million in funding, and Wooden Street, which raised $77 million.


  • Weekly Highlights: Funding and Acquisitions in Indian Startups (May 19 – May 24)

    Weekly Highlights: Funding and Acquisitions in Indian Startups (May 19 – May 24)

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    Startup Funding in India: Weekly Update

    During the last week, Indian startups successfully secured about $139.5 million across 21 companies. This included five deals in the growth stage and 13 in the early stage, with three startups opting to keep their funding amounts confidential.

    For comparison, the previous week witnessed 27 startups, spanning both early and growth stages, raising approximately $194.22 million.

    Growth-Stage Funding

    In terms of growth-stage financing, nearly $65.75 million was raised this week. Healthtech company CureBay led the charge with its Series B funding round, backed by Bertelsmann India Investments. Cybersecurity firm CloudSEK followed closely, securing $19 million in its Series B round. Additionally, Euler Motors obtained $15 million from its ongoing $60 million Series B round. Fintech companies Dvara KGFS and Borderless (Stockal) also secured funding during this period.

    Early-Stage Funding

    On the early-stage front, 13 startups accumulated a total of $73.75 million. Mythik, launched by Jason Kothari, stood out with a $15 million seed round. Other significant contributions came from deeptech company ALT Carbon, AI-focused Biostate AI, and SaaS provider Data Sutram. Additionally, the spacetech startup PierSight, along with e-commerce brands BlackCarrot and The Sock Street, raised undisclosed amounts.

    Funding Breakdown by City and Segment

    In city-wise funding, startups based in Delhi-NCR led the pack with eight deals, trailed by Bengaluru with four. Startups from Mumbai, Chennai, Bhubaneshwar, and Ahmedabad also secured funding.

    Segment-wise, fintech startups topped the list with three deals, while the e-commerce sector and media and entertainment followed with three and two deals, respectively. Various players in deeptech, AI, healthtech, and cybersecurity also bagged funding.

    Series-By-Series Breakdown

    This week saw seed funding dominate with eight deals, followed by Series A, Series B, Series D, and additional rounds.

    Weekly Funding Trend

    The decline in startup funding on a week-to-week basis was 28.17%, dropping to $139.5 million compared to the $194.22 million garnered the previous week. Over the last eight weeks, the average funding has hovered around $216.99 million with 25 deals each week.

    Key Appointments

    This week witnessed significant hiring activity. Quick commerce platform Zepto appointed Rachit Ranjan as the chief public policy officer, responsible for overseeing policy, regulatory, and government interactions. ProcMart has welcomed Sachin Jain as co-founder, while Avanse Financial Services has brought former Bajaj Finserv COO Rakesh Bhatt on board as an independent director in advance of their IPO.

    Mergers and Acquisitions

    Nazara Technologies has announced its acquisition of 100% stake in Curve Digital Entertainment Limited, a UK-based publisher of PC and console games, for Rs 247 crore ($29 million). Zendesk has also acquired Local Measure, a prominent player in the CCaaS (Contact Center as a Service) sector.

    New Fund Launches

    360 ONE Asset, part of 360 ONE WAM, has launched a Rs 500 crore ($60 million) sector-agnostic VC fund aimed at seed and Series A investments in India. Aarthi Ramamurthy has initiated Schema Ventures with a $20 million fund to support early-stage startups in sectors including industrial software, robotics, and logistics. Meanwhile, 247VC has introduced its first fund focusing on early-stage startups in India.

    Recent Launches and Collaborations

    Some recent collaborations and launches include:

    • ThunderPlus partnering with Ather Energy
    • Boba Bhai adopting a multi-channel model
    • TagHive unveiling SaathiGPT, an AI-driven learning assistant
    • Banijay Asia teaming up with NODWIN Gaming to enhance gaming engagement
    • Oben Electric preparing to launch its second platform, ‘O100’
    • Glance AI introducing a commerce app enriched with deep intelligence and visual shopping features

    Financial Results This Week

    • TBO Tek reports Rs 446 crore revenue and Rs 59 crore PAT in Q4 FY25
    • Unnati Agri surpasses Rs 500 crore revenue in FY24; losses widen slightly
    • Honasa, parent of Mamaearth, announces Rs 533 crore revenue in Q4 FY25 with a 17% profit decrease
    • Miko reveals Rs 358 crore revenue in FY24; subscription income soars by 29 times
    • Mobikwik’s growth remains stagnant in Q4 FY25; suffering significant losses
    • Square Yards achieves over Rs 1,400 crore revenue in FY25, with gross profit increasing by 52%

    News Highlights

    Zepto Cafe has momentarily halted operations in various smaller cities due to challenges in the supply chain and high costs, affecting around 44 cafes and more than 400 employees, including staff from new locations. Ola Electric’s board has approved a funding plan of Rs 1,700 crore through debt instruments. The Change Engine is set to create 20 non-profit unicorns aimed at driving social transformation in India.

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  • Stable Money Secures Million Investment from Fundamentum with 2.3X Surge in Valuation

    Stable Money Secures $20 Million Investment from Fundamentum with 2.3X Surge in Valuation


    Funding Round for Wealthtech Startup Stable Money

    Wealthtech startup Stable Money is securing Rs 173 crore (approximately $20 million) in a funding round spearheaded by The Fundamentum Partnership Fund. Existing backers such as Matrix Partners, RTP Global, and Lightspeed India are also participating in this round.

    According to regulatory filings obtained from the Registrar of Companies (RoC), the board at Stable Money has approved the issuance of 10 equity shares and 51,914 Series B preference shares, each priced at Rs 33,345. This initiative aims to raise Rs 173 crore, equivalent to $20 million.

    The Fundamentum Partnership Fund is at the forefront of this funding round, contributing Rs 86.5 crore ($10 million). Other participating investors include RTP Global with Rs 33.78 crore, Matrix Partners with Rs 45.42 crore, Lightspeed India with Rs 4.32 crore, and Naman Finance adding Rs 3 crore.

    Stable Money intends to allocate the funds for capital expenses, marketing initiatives, and general corporate needs. According to estimates from Startup Superb, the company’s valuation could soar to around $130 million following this allotment, marking a 2.3 times increase from its previous $15 million Series A round.

    In February of this year, MoneyControl highlighted the potential of this deal.

    Post-allotment, The Fundamentum Partnership Fund’s stake in Stable Money will be 7.94%. Matrix will possess 18.97%, RTP Global 13.45%, Lightspeed India 15.20%, and Naman Finance 0.28%.

    About Stable Money

    Founded in late 2022 by Saurabh Jain and Harish Reddy, Stable Money is revolutionising the wealthtech domain by making fixed-income investing straightforward for retail clients. It offers users a digital platform where they can compare, invest in, and manage fixed-income products, particularly focusing on bank fixed deposits (FDs) from various banks.

    As of now, the company has not released its financial results for FY25. For the fiscal year ending March 2024, Stable Money was still in the pre-revenue phase, reporting an operating income of Rs 35.3 lakh along with a net loss of Rs 12.29 crore.