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Category: Startup

  • Meesho Faces Significant Tax Demand Amid Assessment Dispute

    This article was generated by AI and cites original sources.

    The e-commerce platform Meesho has received a tax demand of ₹1,499.74 crore, including interest, from the Income Tax department’s assessment unit for the fiscal year 2023-24. The Bengaluru-based company disclosed this development in a filing with the stock exchanges on March 6, citing an assessment order under Section 143(3) of the Income-tax Act, which involves a detailed scrutiny assessment by the IT department to verify the accuracy of the filed return.

    Meesho has expressed disagreement with the adjustments made by the IT department and intends to contest the order, believing it has solid legal and factual grounds to challenge the demand. This is not the first instance of such a tax demand for Meesho, as a similar situation arose for the assessment year 2022-23, as disclosed in the company’s prospectus from December 2025.

    Meesho’s proactive response to this tax notice underscores the importance of meticulous financial record-keeping and compliance in the business world. The outcome of this dispute will not only impact Meesho’s financial standing but also serve as a reminder to other companies about the criticality of adhering to tax regulations and the challenges that can arise from tax assessments.

    Source: Inc42 Media

  • Tech Startups Embrace Digital Innovations Post International Women’s Day

    This article was generated by AI and cites original sources.

    In the aftermath of International Women’s Day, tech startups are showcasing their latest digital innovations. YourStory’s daily roundup on March 9, 2026, highlights the latest developments in the Indian startup ecosystem and beyond.

    One startup is leveraging AI-driven analytics to enhance customer experiences, enabling personalized recommendations and revolutionizing business-customer interactions.

    Another startup is introducing blockchain integration for secure financial transactions, aiming to streamline payment processes and ensure data integrity.

    Furthermore, a health tech startup has unveiled a remote patient monitoring device, allowing healthcare providers to track vital signs remotely and improve patient care accessibility.

    These advancements underscore the pivotal role of technology in shaping the startup landscape. As entrepreneurs embrace digital innovations, the industry continues to evolve, offering transformative solutions to diverse challenges.

    Source: YourStory RSS Feed

  • Navi Finserv Reports Solid Financial Growth in Q3

    This article was generated by AI and cites original sources.

    Bengaluru-based Navi Finserv, founded by Sachin Bansal, reported a 14% increase in Q3 revenues, with profits rising by 22% to reach Rs 76 crore. The company’s net profit for the quarter stood at Rs 75.5 crore, marking a 21.7% year-over-year growth, according to financial documents from the Registrar of Companies (RoC).

    This financial performance highlights Navi Finserv’s resilience and strategic positioning in the market, showcasing steady progress in a competitive sector. The company’s focus on sustainable growth and financial stability continues to drive its success.

    With an increase in both revenues and profits, Navi Finserv’s performance underscores the importance of sound financial management and effective business strategies in the tech industry. This success paves the way for further expansion and innovation within the company, shaping its trajectory in the evolving financial technology landscape.

    Source: Tech-Economic Times

  • Indian Startups in Dubai Maintain Operations Amid Middle East Tensions

    This article was generated by AI and cites original sources.

    Amid escalating tensions in the Middle East, Indian startups in Dubai are continuing operations despite potential challenges. The conflict between the US-Israel alliance and Iran has caused disruptions in the region’s business ecosystem, affecting tech hubs like Dubai. Startups are preparing for supply chain issues and market volatility, with reports of companies like Microsoft, Nvidia, and Amazon temporarily closing their Dubai offices due to security concerns.

    While the conflict has led to a crash in global equities markets and impacted India’s benchmark indices, Indian startups in Dubai remain largely unaffected. Dubai, known as a safe space for startups, has become a key destination for international expansion for Indian startups. Despite the uncertainty, most Indian startups are maintaining business as usual, showcasing resilience in the face of geopolitical tensions.

    Source: Inc42 Media

  • Navi Technologies Reports Loss in FY25 Amid Regulatory Challenges and Income Decline

    This article was generated by AI and cites original sources.

    Navi Technologies, a fintech company founded by Sachin Bansal, faced financial difficulties in the fiscal year ending March 2025. The company reported steady revenue growth, reaching Rs 2,565 crore in FY25, up 18% from the previous fiscal year, as per the Registrar of Companies. Navi offers various financial services, including personal loans, bill payments, insurance, and mutual funds, with interest income contributing significantly to its total revenue.

    Despite the revenue growth, Navi’s profitability was impacted by a sharp decline in other income, dropping from Rs 614 crore in FY24 to Rs 124 crore in FY25. This decline, coupled with regulatory restrictions on its lending operations, led to a loss of Rs 126 crore in FY25. The company’s expenses also rose, notably in finance costs and impairment on financial instruments.

    Regulatory actions by the Reserve Bank of India (RBI) in FY25 forced Navi to temporarily halt new loan disbursements. However, after addressing compliance concerns and revising systems, the ban was lifted, allowing Navi to resume lending activities. Navi’s financial performance metrics, such as ROCE and EBITDA margin, stood at 8.90% and 28.97%, respectively.

    Overall, Navi’s financial results in FY25 reflect the challenges fintech companies may face due to regulatory constraints and income fluctuations, impacting their ability to maintain profitability and growth.

    Source: Entrackr : Latest Posts

  • Ecofy Finance Secures Rs 380 Crore for Climate Solutions

    This article was generated by AI and cites original sources.

    Ecofy Finance, a non-banking financial company specializing in climate change solutions, is set to raise Rs 380 crore (approximately $43 million) in its Series B equity round. The funding round is led by British International Investment, with other investors including Finnfund Digital Access Impact Fund, FMO, and Green Growth Equity Fund. After this fundraising, Ecofy’s valuation is estimated to be around Rs 800 crore or $89 million.

    Ecofy aims to support sustainable growth by investing in projects and businesses in developing markets. The fresh capital will be utilized for working capital needs. The company provides financing for various climate initiatives such as electric vehicles, rooftop solar systems, energy-efficient equipment, and waste recycling.

    In the past, Ecofy has secured funding from various sources, including equity funding and long-term loans. The company has seen significant revenue growth, reaching Rs 93.3 crore in FY25. However, losses also increased during the same period. Ecofy’s focus on sustainable financing aligns with the growing demand for environmentally friendly solutions in the market.

    Source: Entrackr : Latest Posts

  • Nvidia-backed Nscale Secures $14.6 Billion Valuation Ahead of IPO

    This article was generated by AI and cites original sources.

    Nscale Global, an AI company backed by Nvidia, has secured a significant valuation of $14.6 billion in its latest funding round. This funding round precedes the company’s planned initial public offering (IPO), with Goldman Sachs and JPMorgan serving as underwriters, according to sources cited by Reuters. Notable industry figures, including former Meta executives Nick Clegg and Sheryl Sandberg, along with former Yahoo President Susan Decker, are set to join Nscale Global’s board.

    This substantial valuation underscores the growing prominence of AI technologies in today’s market. Nvidia’s backing has contributed to Nscale’s success, highlighting the pivotal role of established tech giants in fostering innovation within the AI sector. As Nscale prepares for its IPO, the involvement of renowned financial institutions and experienced industry leaders is poised to further elevate the company’s standing in the tech landscape.

    Source: Tech-Economic Times

  • 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

  • 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