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  • StrideOne Secures ₹100 Cr Funding, Appoints Former Max Life Insurance Chairman as Cofounder

    This article was generated by AI and cites original sources.

    Venture debt firm Stride Capital’s non-banking financial company (NBFC) arm, StrideOne, has successfully raised ₹100 Cr (about $11 Mn) in a combination of equity and debt capital from undisclosed investors. The funding will be used to expand enterprise anchor programs, enhance the partner-lender network, and strengthen technology and risk infrastructure.

    Accompanying this funding round, StrideOne has appointed Rajesh Sud, the former chairman of Axis Max Life Insurance, as its cofounder and chairman. Sud’s responsibilities include guiding StrideOne’s long-term strategy, fortifying governance, and overseeing risk frameworks. Additionally, Sud has acquired an equity stake in the company, though the financial details remain undisclosed.

    With over three decades of experience primarily at Axis Max Life Insurance, Sud’s background encompasses key leadership roles. He held the position of CEO & Managing Director at Axis Max Life Insurance for close to twenty years. Sud has also contributed his expertise as the chairman of Niva Bupa Health Insurance and Managing Director – Financial Services at Bharti Enterprises, overseeing Bharti AXA Life Insurance and Bharti AXA General Insurance while serving on the board of Airtel Payments Bank. Earlier in his career, he held significant positions at Bank of America and ANZ Bank.

    In 2024, StrideOne reinforced its team by appointing Hardeep Singh, former GE Capital chief financial officer, as its first CFO to strengthen its financial operations.

    Source: Inc42 Media

  • True Balance Secures $10 Million in Debt Financing for Lending Expansion

    This article was generated by AI and cites original sources.

    Fintech platform True Balance has announced securing $10 million in debt funding from investors, including Northern Arc Capital, to bolster the growth of its lending arm, True Credits Pvt Ltd.

    This new capital injection will be used to expand True Credits’ lending activities and introduce fresh loan products in the Indian market.

    Established in 2014, True Balance specializes in offering financial services to underbanked and new-to-credit individuals. Through its NBFC arm, the company has already disbursed over $30 million in loans in the current fiscal year.

    Operated by Balancehero India, the Indian arm of South Korea’s Balancehero, True Balance provides digital financial services like bill payments, recharge facilities, and lending products to Indian users.

    Targeting borrowers overlooked by traditional banks and lacking credit scores, True Balance’s personal loan platform fills a crucial gap in the market.

    Having raised a total of $150 million from various equity and debt rounds, including a $28 million funding round led by SoftBank and Daesung Private Equity, True Balance’s latest debt financing marks a significant milestone in its journey.

    Source: Entrackr : Latest Posts

  • Flipkart Shifts Domicile to India Ahead of IPO: Implications for Ecommerce

    This article was generated by AI and cites original sources.

    Flipkart, the leading Indian e-commerce company, has completed a significant move by shifting its domicile from Singapore back to India. This strategic decision, following approvals from the NCLT and the central government under Press Note 3 rules, paves the way for Flipkart, owned by Walmart, to progress with its India listing plans and commence discussions with merchant bankers.

    This shift in domicile holds key implications for the tech industry, particularly in the realm of e-commerce. By returning to India, Flipkart aligns itself more closely with the regulatory landscape and market dynamics of its home country. This move positions Flipkart favorably for its upcoming IPO, signaling a commitment to strengthening its presence in the Indian market.

    As Flipkart gears up for its listing, the relocation of its domicile underscores the company’s strategic vision and adaptability to regulatory requirements. This development not only streamlines operational aspects but also reflects Flipkart’s dedication to navigating the complex interplay of technology and regulatory frameworks.

    Source: Tech-Economic Times

  • Cars24 Undergoes Leadership Transition: Vikram Chopra to Lead India Used Cars Vertical

    This article was generated by AI and cites original sources.

    Cars24, a digital marketplace for used vehicles, is undergoing a leadership change in its India used cars vertical. Himanshu Ratnoo, who led the business for nearly six years, is stepping down from his role as CEO. Cars24 co-founder and Group CEO Vikram Chopra will now directly oversee the India used cars leadership team.

    Ratnoo joined Cars24 in 2020 and took over as the CEO of the India used cars vertical in 2024. During his tenure, he contributed to initiatives like Touch & Buy and the franchise model. In an internal email, Ratnoo expressed gratitude for his time at the company, calling it a privilege to lead talented colleagues.

    Chopra, in response, assured employees that the India used cars team will collaborate closely with him as Cars24 enters a new growth phase. Founded in 2015, Cars24 has expanded globally, operating in markets like Australia, the UAE, and the US.

    Financially, Cars24 reported Rs 6,233 crore in gross revenue with a Rs 543 crore loss in FY25. In H1 FY26, the company’s adjusted net revenue was Rs 651 crore, with expectations to surpass Rs 750 crore in the second half of the fiscal year.

    Source: Entrackr : Latest Posts

  • Apple Unveils $599 MacBook Neo with iPhone A18 Pro Chip

    This article was generated by AI and cites original sources.

    Apple has announced the $599 MacBook Neo, a budget-friendly laptop that expands the company’s computing lineup. The MacBook Neo features a 13.0-inch display, making it one of Apple’s smallest laptops to date. Notably, this device is powered by the iPhone A18 Pro chip, representing Apple’s first integration of a smartphone processor into a Mac.

    The introduction of the MacBook Neo signals Apple’s strategy to target budget-conscious consumers by offering a lower-priced alternative to traditional Mac laptops. Priced $400 below the current MacBook Air, the Neo comes in a range of color options, including citrus, silver, indigo, and blush, catering to a diverse user base from students to mainstream consumers.

    Apple’s use of the iPhone A18 Pro chip in the MacBook Neo showcases the company’s ability to leverage its mobile technology advancements in the computing realm. John Ternus, Apple’s hardware engineering chief, emphasized that the MacBook Neo was designed to be more accessible to a broader audience.

    The base model of the MacBook Neo offers 256 gigabytes of storage, while a $699 upgraded version doubles the storage capacity and includes Touch ID functionality for added security and convenience. Education buyers can benefit from a $100 discount on each model, bringing the starting price down to $499.

    Pre-orders for the MacBook Neo are now open, with initial deliveries and in-store availability set for March 11. The device offers battery life, display brightness, and weight comparable to the MacBook Air, presenting a compelling option for those seeking an affordable yet capable computing solution.

    Source: mint – technology

  • Home Salon Platform Yes Madam Reports Doubling of Operating Revenue to Nearly Rs 100 Crore in FY25

    This article was generated by AI and cites original sources.

    The Noida-based home salon services platform Yes Madam has reported a significant financial milestone for the fiscal year ending March 2025. The company’s revenue from operations doubled to Rs 92.5 crore in FY25 from Rs 45.8 crore in FY24, as disclosed in its financial filings with the Registrar of Companies (RoC).

    Founded in 2016, Yes Madam offers at-home beauty, salon, and wellness services through its app or website. The platform connects users with skilled professionals for services like haircuts, facials, waxing, and massages, earning revenue through commissions on bookings.

    Product sales contributed 54% to the company’s operating revenue, hitting Rs 50 crore in FY25, with the remaining Rs 42.5 crore generated from service sales, including commission income and subscription royalties. Non-operating sources such as penalty charges and interest on fixed deposits added Rs 2 crore, totaling the company’s income to Rs 94.5 crore in the previous fiscal year.

    While procurement expenses for products doubled to Rs 31.4 crore in FY25, business promotion costs surged 3.7 times to Rs 27 crore. Employee benefits expenses rose by 52% year-on-year to Rs 18.14 crore. Overall expenditures nearly doubled to Rs 92.4 crore from Rs 45.5 crore in FY24, primarily driven by various overheads.

    Despite the increased expenses, Yes Madam managed to remain profitable, reporting a profit of Rs 1.8 crore for the fiscal year, with a ROCE of 2.29% and an EBITDA margin of 0.57%. The company’s ability to maintain profitability while expanding its operations underscores its strength in the at-home services market.

    Source: Entrackr : Latest Posts

  • Karkhana Expands Electronics Manufacturing Capabilities with Micron EMS Acquisition

    This article was generated by AI and cites original sources.

    Bengaluru-based B2B contract manufacturing startup, Karkhana, has acquired Micron EMS Tech, an electronics manufacturing services (EMS) firm, to enhance its manufacturing capabilities. The undisclosed acquisition includes a new 40,000+ sq ft facility in Bengaluru, equipping Karkhana with advanced technology for in-house PCB development and high-volume production.

    The state-of-the-art facility features high-speed SMT and THT assembly lines for PCBs, ensuring quality through rigorous inspection processes like 3D inspection, AOI, X-ray inspection, and comprehensive testing. Digital systems such as ERP and MES will enable seamless traceability and quality control.

    This strategic move positions Karkhana to offer a wide range of electronics manufacturing services, from basic assemblies to complex system-level box builds. The company aims to double its customer base, expand exports to the US and EU, and achieve an annual revenue of ₹200 Cr post-acquisition.

    Source: Inc42 Media

  • Moneyview’s IPO Filing Signals Fintech Expansion in India’s Financial Landscape

    This article was generated by AI and cites original sources.

    Moneyview, a leading Bengaluru-based fintech lender, has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise a substantial Rs 1,500 crore through an initial public offering (IPO). The IPO will consist of a fresh issue of equity shares and an offer for sale (OFS) by existing shareholders, including key investors like Accel, Ribbit Capital, and Apis Partners.

    Founded in 2014, Moneyview focuses on providing digital financial services such as personal loans, credit score tracking, and insurance distribution to underserved customers across India. With a user base exceeding 125 million and partnerships with over 40 financial institutions, the company has demonstrated strong growth and financial performance in recent years.

    The filing of the DRHP not only highlights Moneyview’s strategic fundraising plans but also underscores the increasing prominence of fintech in India’s evolving financial landscape. This move signals the company’s commitment to further expanding its reach and offerings, leveraging technology to cater to the changing needs of the market.

    Source: Entrackr : Latest Posts

  • Bharti Airtel’s Nxtra Data Secures $1 Billion Investment to Expand Data Centre Capacity

    This article was generated by AI and cites original sources.

    Bharti Airtel’s Nxtra Data, a key player in India’s digital infrastructure landscape, has announced plans to raise $1 billion in funding to significantly expand its data centre capacity to a gigawatt scale. This strategic move aims to bolster Nxtra Data’s position as a leading provider of data centre services in India.

    The investment will see Alpha Wave Global, a prominent investor, joining as a new stakeholder in Nxtra Data. Existing shareholders are also expected to participate in this funding round. The infusion of capital is anticipated to fuel substantial growth and development opportunities for Nxtra Data, solidifying its position as a leader in the digital infrastructure sector within the country.

    This substantial financial backing underscores the increasing importance of robust data centre capabilities to support the burgeoning digital ecosystem and the escalating demand for data storage and processing services. By expanding its capacity, Nxtra Data is gearing up to meet the evolving needs of businesses and consumers in an era defined by data-driven operations.

    Source: Tech-Economic Times

  • India’s AI Landscape Evolves with Open-Source Models and Strategic Acquisitions

    This article was generated by AI and cites original sources.

    India’s AI ecosystem has witnessed significant developments, signaling a shift towards investment in new models and potential enterprise adoption. Sarvam AI made a notable move by open-sourcing its foundational reasoning models, Sarvam 30B and 105B, developed under the IndiaAI Mission with support from a subsidy for Nvidia H100 GPUs. These models, optimized for 10 Indian languages, aim to provide a local alternative to Western models, enabling developers to create without the high costs of training from scratch.

    In another strategic move, enterprise tech startup Nitro Commerce acquired Zodiac Labs AI, integrating Agentic AI into the quick commerce sector. This acquisition reflects a growing trend where brands seek autonomous agents for real-time marketing and ad spend management, moving beyond traditional analytics towards dynamic decision-making.

    Furthermore, Nurix AI received backing from Prosus, underlining the market’s maturity as it focuses on developing custom AI agents for enterprise workflows. While Sarvam’s open-sourcing marks a milestone in providing the ‘reasoning brain,’ players like Nitro and Nurix are working on the ‘agentic limbs’ that will drive India’s digital economy forward.

    Source: Inc42 Media