Business

Amazon Web Services (AWS) has chosen seven Indian startups that specialize in generative AI for its global accelerator program. The startups, which were selected from a pool of 80 global companies, will receive up to $1 million in AWS credits to develop, train, test, and deploy their AI solutions. The selected startups are: Convrse: An AI-based tool that optimizes complex 3D objects or scenes for web or real-time applications, serving industries such as gaming, architecture, manufacturing, healthcare, and simulations. House of Models: A company that leverages large language models (LLMs) and diffuser models to generate digital content for brands and businesses, including images, videos, and product descriptions. Neural Garage: A deep technology company that uses AI to streaml...

Gurugram-based Direct-to-Consumer (D2C) tech accessories and lifestyle brand DailyObjects has raised a significant Rs 86 crore in a new funding round from 360 One Ventures. This fresh investment brings the company's total Series B funding to a staggering $10 million, after a gap of 30 months. The funds will be used to meet the company's working capital requirements, fuel future expansion, and cater to other general corporate purposes. DailyObjects plans to maximize the utilization of these proceeds to maintain its competitive edge in the market. The board of DailyObjects has approved the issuance of 8,118 compulsory convertible preference shares worth Rs 72 crore to raise the required funds. The company's regulatory filings with the Registrar of Companies (RoC) confirm this developm...

E-commerce focused packaging company Bizongo has appointed three new CEOs to head its raw material marketplace BizongoBuy and embedded supply chain finance platform BizongoFin. The company has also strengthened its leadership by appointing a Chief Technology and Product Officer (CTPO) and a Chief Financial Officer (CFO). Kiran Dev, an ex-banker, has been named CEO of BizongoFin, the fintech arm that provides embedded supply chain financing solutions to address the $300 billion unmet SME credit needs. Dev brings with him a wealth of experience in banking and finance. Prahlad Krishnamurthi, who recently stepped down as Chief Business Officer at Cleartrip, has joined as the CEO of BizongoBuy, the integrated B2B marketplace for SMEs to buy raw materials. Gaurav Singhania has been appoin...

WROGN, the men's apparel brand backed by cricket icon Virat Kohli, has faced a significant decline in revenue and profits over the past year, with its revenue plummeting by 29.2% and losses rising 28.2% to Rs 56.76 crore. Despite attempting to cut costs, the company's overall expenditure decreased by 24.7% to Rs 305.56 crore, but its outstanding debt surged to Rs 636.58 crore. Key Highlights: WROGN's revenue from operations dwindled to Rs 243.75 crore in FY24, a 29.2% drop from Rs 344.3 crore in FY23. The company's losses jumped to Rs 56.76 crore in FY24, a 28.2% increase from Rs 44.26 crore in FY23. Cost of materials accounted for 53.6% of total expenses, which slid 29% to Rs 163.91 crore in FY24. Employee benefits expenses decreased by 7.5% to Rs 32.26 crore, while commi...

Bengaluru, India - SaaS-based digital adoption solution provider Whatfix has announced that it has raised nearly $100 million in primary and secondary funding led by Sweet Nectar Investments (Warburg Pincus) and SoftBank. The company has used this funding to strengthen its operations and expand its business. According to regulatory filings with the Registrar of Companies, the Bengaluru-based company has issued 13,201 Series E compulsory convertible preference shares (CCPS) at an issue price of Rs 2,24,788.44 per share to raise Rs 296.74 crore in primary capital. Additionally, the transaction also includes secondary funding worth nearly Rs 530 crore. The investment from Sweet Nectar Investments (Warburg Pincus) and SoftBank has valued the company at around Rs 6,871 crore or $820-830 ...

Bajaj Auto, one of the most well-established companies in the Indian automotive industry, has earned its place through years of strategic innovation, global expansion, & a commitment to affordability. This case study dives deep into the business model of Bajaj Auto, explores its product portfolio, analyzes its financial standing, and provides an insightful SWOT analysis. As a market leader in the two-wheeler and three-wheeler segments, Bajaj Auto’s business model thrives on efficiency, targeted marketing strategies, and a solid financial framework. Through this exploration, we’ll touch upon key aspects such as Bajaj Auto's business model, marketing strategy, financial analysis, and a SWOT analysis to understand the company's success. Bajaj Auto Company Overview History of Ba...

In a significant development, a consortium of investors consisting of Peak XV, Stellaris Ventures, Sofina Ventures, and Fireside Ventures has collectively sold a massive Rs 1,600 crore ($190 million) worth of shares in Honasa Consumer Limited, the parent company of popular direct-to-consumer (D2C) skincare and beauty brand MamaEarth. According to data from the National Stock Exchange (NSE), the investors sold 3.24 crore shares of MamaEarth at an average price of Rs 495.48 per share. The sell-off marks a significant exit for the investors, who currently hold a substantial portion of the company. Peak XV, the lead investor, along with its former entity Sequoia Capital Global Growth Fund III, divested around Rs 753 crore ($90 million) worth of shares, while Sofina Ventures, Stellaris V...

New Delhi, India - Onsurity, a leading employee healthcare platform, has concluded a substantial $45 million Series B funding round, led by renowned private equity fund Creaegis. This significant investment brings the total funding raised by the insurtech startup to $66 million, solidifying its position as a pioneer in the Indian employee healthcare market. The round saw participation from existing investors, including International Finance Corporation, Quona Capital, and Nexus Venture Partners, who have shown confidence in Onsurity's vision to provide comprehensive, affordable healthcare solutions to Indian small and medium-sized enterprises (SMEs). As part of the funding, Creaegis will hold 17.10% of the company, while Nexus and Quona will hold 28.22% and 12.82%, respectively. Key...

Newmi Care, a pioneering full-stack outpatient care platform focusing on women's health and wellness, has announced that it has raised $1.5 million in a seed funding round led by Sprout Venture Partners. The investment will enable the company to expand its network of women's clinics in North and West India, enhance its technology and product innovation, and grow its team. The funding round also saw participation from a leading family office, LetsVenture, Sarcha Advisors, Key Ventures Forum, and a few angel investors. Since its inception in May 2022, Newmi Care has serviced over 60,000 women across 400 cities in India, addressing a wide range of health concerns, including menstrual, sexual, and hormonal health, fertility and maternity, menopause, and women's reproductive organ cancers. ...