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Dhan Enters Top 10 List in Indian Stockbroking Apps, Knocks Out Paytm Money
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Finance, Business

Dhan Enters Top 10 List in Indian Stockbroking Apps, Knocks Out Paytm Money

Dhan, a fintech company founded by former Paytm Money executive Pravin Jadhav, has made a significant entry into the top 10 list of stockbroking apps in India. With 1.09 crore active users in August, Dhan has surpassed Paytm Money, which has been a leading player in the segment, to grab a spot among the top 10. According to data from the National Stock Exchange (NSE), Dhan has a significant following, with 7.4 lakh active users as of August, while Paytm Money has 7.3 lakh active users. This significant growth has propelled Dhan into the top 10 list, edging out Paytm Money. Leaderboard Showdown: Groww Retains Top Position Groww has retained its position as the market leader, with 1.09 crore active users in August. Zerodha takes the second spot, followed by AngelOne at number three...
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Dharaksha Ecosolutions Closes $2.95 Million Seed Funding Round to Revolutionize Sustainable Packaging
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Business

Dharaksha Ecosolutions Closes $2.95 Million Seed Funding Round to Revolutionize Sustainable Packaging

New Delhi, India - Dharaksha Ecosolutions, a biotech-driven R&D start-up, has secured $2.95 million in seed funding led by Avaana Capital, the company announced in a press release. This latest funding round brings the total funding secured by the company to over $2.5 million. The company plans to utilize the proceeds from the funding round to expand its production capabilities, intensify research and development practices, and strengthen its market presence. Dharaksha Ecosolutions, co-founded by Anand Bodh and Arpit Dhupar in 2020, aims to replace conventional plastic and petroleum-based packaging with sustainable alternatives made from agricultural waste. Dharaksha's innovative approach utilizes agricultural waste as a feedstock to develop mycelium-based packaging materials...
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Wundrsight Secures $400K in Seed Funding to Expand Mental Health Solutions Across India
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Business

Wundrsight Secures $400K in Seed Funding to Expand Mental Health Solutions Across India

Mumbai-based digital therapeutics startup, Wundrsight, has raised $400,000 in its seed funding round led by Inflection Point Ventures, with participation from Social Alpha and several angel investors. The latest investment will enable the startup to strengthen its hospital and clinic partnerships network across India and advance its Virtual Reality (VR) based mental health solutions. Co-founded by Raunak Swarnkar, Wundrsight is focused on leveraging the immersive capabilities of VR to digitize and standardize mental health therapy. Backed by prominent investors including Meta (Facebook parent), DLabs at the Indian School of Business, IIT Mandi Catalyst, and NASSCOM, the startup has established itself as a pioneer in the digital mental health space. Key Highlights: Wundrsight has...
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Breaking News: Moneyview Achieves Unicorn Status with New Funding Round
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Business

Breaking News: Moneyview Achieves Unicorn Status with New Funding Round

Consumer lending platform Moneyview has reached the unicorn status after securing substantial investment from its existing investors, Accel India and Nexus Ventures. This new round of funding has valued the company at around ₹10,086 crore or $1.2 billion (post-allotment). As per regulatory filings, Moneyview has issued 60,23,382 equity shares at an issue price of ₹64.15 each, raising approximately ₹38.64 crore ($4.65 million) in the ongoing funding round. Accel India has invested ₹29 crore, while Nexus Ventures has pumped in ₹19 crore. Notably, this is not the only recent development at Moneyview. Earlier this week, the company announced the acquisition of Jify.co, a platform that enables employees to access their earnings on demand. This strategic move is expected to strengthen Mon...
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GameEon Secures $1 Million Investment to Develop AA and AAA Games
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Business

GameEon Secures $1 Million Investment to Develop AA and AAA Games

Mumbai, India - July 11, 2022 - GameEon, a leading game development studio, has announced that it has secured $1 million in its latest funding round. The investment was co-led by a group of prominent investors including SucSEED Indovation Fund, ICE VC, IAN, CD EQUIFINANCE, Nexus Global Opportunities Fund, Vivek Goel, Patni Family, and Tal64. This fresh funding round is a significant boost to the company, which had earlier raised $500,000 for product prototyping and market testing. GameEon has conducted trials in 12 countries and gathered insights from over 5,000 gamers globally, showcasing the company's dedication to creating high-quality gaming experiences. The new funding will be utilized to accelerate the development of AA and AAA games for PC and console, as well as the launch o...
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Trisu Secures Pre-Seed Funding to Fuel Growth Plans
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Business

Trisu Secures Pre-Seed Funding to Fuel Growth Plans

Gurugram-based jewelry startup Trisu has secured an undisclosed amount of investment in a pre-seed funding round, co-led by All In Capital, JK Tyres, and Amaanta Group, with participation from angel investors Himanshu Aggarwal and Sumer Sethi. The funds, which will be primarily used to enhance customer acquisition, drive product innovation, and support market expansion, are expected to propel the company's growth plans. Trisu, founded by Saloni Chopra in 2023, specializes in gold vermeil jewelry with 18-karat gold plating that is five times thicker than standard gold plating, using silver as the base metal. The company aims to provide affordable gold alternatives to Indian consumers, particularly those aged 30-60, who can enjoy high-quality jewelry at a fraction of the cost of solid...
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Playbook Partners Secures $130 Mn from Global Investors, Eyes $250 Mn Fund Size
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Business

Playbook Partners Secures $130 Mn from Global Investors, Eyes $250 Mn Fund Size

Growth capital firm Playbook Partners has reached a milestone with a first close, securing over $130 million in funding from investors from across the globe, including Europe, the US, the Middle East, and India. The fund has an option to grow up to $250 million, leaving room for further investments. Growth Stage Investments Playbook's primary focus is on partnering with growth-stage, tech-enabled businesses in large addressable markets. The firm, led by Vikas Choudhury, targets companies with positive unit economics and the potential to scale sustainably to market leadership. By merging capital with expertise, Playbook aims to provide a unique value proposition to its portfolio companies, utilizing a data-driven and strategic approach. Diversified Investing Experience Choudhur...
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InMobi Secures $100 million in Debt Financing to Fuel AI Development
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Business

InMobi Secures $100 million in Debt Financing to Fuel AI Development

Mobile advertising network software firm, InMobi, has announced that it has secured $100 million in debt financing from MARS Growth Capital, a collaboration between MUFG and Liquidity Group. This significant investment will support the company's ambitious plans for the development of artificial intelligence (AI) and strategic acquisitions, allowing it to offer brands and consumers more immersive and personalized experiences. Key Highlights: InMobi has secured $100 million in debt financing from MARS Growth Capital to propel its AI development and strategic acquisition plans. The company aims to offer brands and consumers more immersive and personalized experiences beyond traditional ad units. This is InMobi's first major funding round after a five-year gap, following a string...
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Purplle Secures $120 Million Funding, Cuts Losses by 46%
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Business

Purplle Secures $120 Million Funding, Cuts Losses by 46%

The Abu Dhabi Investment Authority (ADIA) has led a significant investment of $120 million in Mumbai-based beauty and grooming platform, Purplle, in July. This funding comes on the back of a remarkable 43% year-on-year surge in revenue for the fiscal year ending March 2024. Purplle's growth story is impressive, with revenue from operations increasing to Rs 680 crore from Rs 475 crore in FY23. The company has diversified revenue streams, including: Advertising and visibility services: Primary source of income Sales of own labels: Successful brands like Faces Canada and Good Vibes Royalties (from sellers) Subscriptions Support services Interest on investments added another Rs 45 crore to its total income, taking it to Rs 725 crore in FY24, up from Rs 509 crore in ...
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Zivy Raises $1.2M in Pre-Seed Funding to Revolutionize Workplace Productivity
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Business

Zivy Raises $1.2M in Pre-Seed Funding to Revolutionize Workplace Productivity

Mumbai, Zivy, a cutting-edge AI tool that helps prioritize workplace messages and tasks, has secured $1.2 million in a pre-seed funding round co-led by prominent venture capital firms, including Blume Ventures, Paradigm Shift Capital, iSeed, Everywhere Ventures, Indian Silicon Valley, and Marsshot Ventures. Angel investors, such as Ashwin Bhatnagar, Anand Balaji, and Razorpay co-founders Harshil Mathur and Shashank Kumar, also joined the round. The freshly-minted funds will be allocated towards further enhancing the company's product development and expanding its research and development team, as per Zivy's announcement. The platform, founded in 2023 by Prashanth YV and Vivek Karna, aims to help managers and leads by providing a personalized "copilot" to stay organized and manage their...
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