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Category: Startup

  • 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

  • Nitro Commerce Acquires Zodiac Labs AI to Enhance Quick Commerce Analytics Capabilities

    This article was generated by AI and cites original sources.

    Enterprise tech company Nitro Commerce has acquired Gurugram-based AI startup Zodiac Labs AI. The undisclosed acquisition follows Nitro Commerce’s recent $5 million capital raise and signals a strategic expansion into quick commerce-centric solutions for brands.

    Zodiac Labs leverages AI to provide brands with insights and tools for monitoring growth across quick commerce channels. Their offerings include a real-time dashboard for SKU monitoring, a smart purchase order engine, and assistance in allocating quick commerce budgets. The startup is active on platforms like Blinkit, Zepto, and Instamart.

    Nitro Commerce, established in 2023, specializes in AI-enabled products for brand marketing and customer engagement, with a focus on the direct-to-consumer (D2C) channel. By integrating Zodiac Labs’ expertise, Nitro Commerce aims to extend its influence across ecommerce, retail, and quick commerce segments, broadening its support for brands beyond D2C.

    Nitro Commerce’s founder, Umair Mohammed, highlighted the merchant-centric nature of their solutions and emphasized the potential for assisting brands in diversifying their growth avenues. The collaboration with Zodiac Labs signifies a strategic push towards enhancing Nitro Commerce’s Agentic AI model to deliver actionable insights beyond data visualization.

    Source: Inc42 Media

  • India’s Househelp Apps Surge Amid Profitability Concerns

    This article was generated by AI and cites original sources.

    India’s househelp service sector, particularly the 10-minute househelp segment, is experiencing rapid growth, with market leaders like Urban Company, Snabbit, and Pronto collectively processing over 2 million monthly orders in February. This surge marks a significant increase from 1.3 million orders in December, attributed to their strategic expansion into new cities and micro-markets.

    While the scalability of these services is impressive, investors are voicing concerns about their long-term profitability. As these apps continue to gain popularity, stakeholders are eager for more transparent insights into the economic viability of these ventures.

    This growth trend underscores the increasing reliance on technology-driven solutions for everyday tasks in India, highlighting the shift towards on-demand service platforms. The success of these househelp apps reflects the evolving consumer preferences and the tech-driven transformation of traditional service industries.

    Source: Tech-Economic Times

  • Playbook Partners Invests $11 Million in Enterprise Tech Firm KaarTech

    This article was generated by AI and cites original sources.

    Playbook Partners has led an $11 million funding round in KaarTech, an enterprise technology firm, joining existing investor A91 Partners. A91 Partners, holding a 30% stake in KaarTech, previously invested $30 million in 2023, valuing KaarTech at Rs 2,000 crore.

    This investment highlights the growing interest in KaarTech’s technological offerings within the enterprise sector. It also reflects the confidence investors like Playbook Partners have in the potential growth and innovation opportunities presented by KaarTech.

    As KaarTech secures additional funding, it positions itself to further develop and scale its technological solutions, potentially leading to advancements in enterprise technology landscapes.

    Source: Tech-Economic Times

  • Tencent Reduces Stake in PB Fintech Through Block Deal

    This article was generated by AI and cites original sources.

    Tencent Cloud Europe BV, an affiliate of tech giant Tencent, recently offloaded 48.40 lakh equity shares of PB Fintech in a block deal, generating ₹694.65 crore from the sale. The shares were sold at ₹1,435.10 per share, reducing Tencent’s stake in PB Fintech from 2.12% to 1.06%. Following this transaction, several institutional investors, including Goldman Sachs, Societe Generale, and Viridian Asset Management, acquired shares of PB Fintech.

    Tencent initially invested in PB Fintech in 2019, purchasing a minority stake in the company. Over the years, Tencent has gradually reduced its stake in PB Fintech through various transactions, with the recent sale being part of this divestment strategy.

    This move by Tencent to sell its PB Fintech shares comes amidst a challenging period for the company’s stock performance, which has seen a year-to-date decline of approximately 21%. The market’s reaction to Tencent’s divestment and the subsequent acquisition of PB Fintech shares by other investors signals ongoing shifts in ownership and investor sentiment within the fintech sector.

    Source: Inc42 Media

  • India’s Top Food Delivery Platforms Bounce Back in Q4

    This article was generated by AI and cites original sources.

    India’s prominent food delivery players, Swiggy, magicpin, and Zomato, have experienced a resurgence in growth during the December quarter. This positive trajectory marks a notable recovery for the food delivery sector, indicating renewed consumer interest and engagement.

    The growth surge has been attributed to increased demand during the festive season, the introduction of affordable services, and the expansion of customer bases, particularly in smaller Indian cities. The strategic focus on catering to diverse markets and enhancing accessibility has played a pivotal role in driving this growth momentum for the tech-driven food delivery platforms.

    With a combination of festive fervor and user-centric initiatives, these companies have managed to not only sustain but amplify their market presence, showcasing the resilience and adaptability of technology-based solutions in meeting evolving consumer needs.

    Source: YourStory RSS Feed

  • Rural Retail Startup Rozana Secures $31.6M Series B Funding to Enhance Technology

    This article was generated by AI and cites original sources.

    Rozana, a rural omnichannel retail platform, has secured Rs 290 crore ($31.6 million) in a Series B funding round led by Bertelsmann India Investments. Other investors included Fireside Ventures, Spark Growth Ventures, Bikaji Family Office, FE Securities, and additional family offices.

    The new funds will be used to strengthen Rozana’s technology infrastructure, expand product categories, introduce private label offerings, and build brand partnerships.

    Established in 2021, Rozana operates a rural-focused omnichannel retail platform that integrates a consumer app, modern retail experience centers, and an in-house distribution network. The company currently runs 75 retail centers and collaborates with over 35,000 women partners who serve as last-mile fulfillment agents in local communities.

    Rozana’s reach spans 21,000 villages in the Gangetic plains, serving more than 1 million active households in Uttar Pradesh and Haryana. The company aims to grow to 200 stores and expand to two to three additional northern states within the Gangetic belt, with a long-term goal of reaching 130,000 villages.

    India’s rural consumption market, valued at over $2 trillion, exhibits significant potential, with over 200 million rural households spending approximately Rs 20,000 per month across various categories including staples, FMCG, personal care, household goods, apparel, and discretionary items.

    Source: Entrackr : Latest Posts

  • Practo Cofounder Launches Preventive Healthcare Startup ‘Cent’

    This article was generated by AI and cites original sources.

    Shashank ND, the co-founder and CEO of healthcare startup Practo, has unveiled a new venture named ‘Cent’ that focuses on preventive healthcare. This startup, backed by a $5 million funding round from OneFlow Holdings and South Park Commons, aims to revolutionize healthcare by detecting life-threatening diseases before symptoms manifest. Cent’s approach involves a direct-to-consumer preventive healthcare intelligence platform utilizing precision radiology to identify diseases early on.

    Cent’s diagnostic process integrates cutting-edge imaging technologies like whole-body MRI and low-dose CT scans, along with AI-driven analysis of over 120 biomarkers, to detect risks related to cancer, cardiac issues, neurological conditions, and metabolic disorders in asymptomatic individuals. This comprehensive screening is followed by clinical consultations, offering a proactive approach to healthcare.

    Arpit Garg, one of Cent’s co-founders, highlighted the technological advancements that have enabled the startup to screen for over 300 conditions in a single visit efficiently. Despite just emerging from stealth mode, Cent has been operational for some time, conducting 1,500 scans on predominantly asymptomatic patients.

    Source: Inc42 Media