wayr today India

Category: Startup

  • Cheerio AI Secures ₹8 Crore in Seed Funding for AI-Powered Customer Engagement Platform

    This article was generated by AI and cites original sources.

    AI-powered customer engagement platform Cheerio AI has successfully raised ₹8 crore in a seed funding round led by Artha Venture Fund through its Artha Venture Fund II. The funding round also included contributions from Hyderabad Angels, TiE Angels, LetsVenture, Invention Engine, and various angel investors.

    The raised capital will be used to enhance Cheerio AI’s multi-modal AI capabilities, develop a proprietary small-model LLM for ad generation, expand into voice and video channels, and reinforce automation features and enterprise-grade infrastructure. Additionally, the company plans to grow its team in engineering, AI, enterprise sales, and customer success to support its global expansion.

    Founded by Nishant Das, Avinash, and Priam, Cheerio AI specializes in an AI-powered customer engagement platform designed to optimize the CAC-to-LTV equation for enterprises. The platform streamlines marketing, support, and sales workflows across multiple channels, including WhatsApp, email, SMS, social messaging, and in-app communication.

    Cheerio AI has a client base of over 150 enterprises spanning six industries and reportedly delivered more than ₹500 crore in additional revenue for its clients through retention automation. With a remarkable revenue growth of 450% year-on-year over the last two years, the company is poised for further expansion and innovation in the customer engagement space.

    Source: Entrackr : Latest Posts

  • Battery Smart Secures Pre-Series C Funding to Expand Electric Mobility Infrastructure

    This article was generated by AI and cites original sources.

    Battery Smart, a battery-swapping network for electric two- and three-wheelers, has commenced its pre-Series C funding round, securing investments totaling over $7 million from Acacia Inclusion, Blume Ventures, and PC-SBI Kurashi Visionary Fund.

    The funding round involves the allotment of 12,158 pre-Series C compulsory convertible preference shares at an issue price of Rs 54,407 each, amounting to approximately $7.4 million as per regulatory filings with the Registrar of Companies.

    Acacia Inclusion contributed Rs 36.3 crore, followed by PC-SBI Kurashi Visionary Fund with Rs 17.8 crore, and Blume Ventures with Rs 12 crore.

    The raised capital will be used to facilitate business expansion, capital expenditure, working capital needs, and general corporate purposes for Battery Smart.

    Founded to address range anxiety and upfront costs associated with electric mobility, Battery Smart offers lithium-ion batteries for quick swapping at its stations, operating on a battery-as-a-service (BaaS) model to eliminate battery ownership costs for users, especially gig economy drivers.

    With a funding history of $192 million, including significant rounds like the $65 million Series B and a $29 million extended Series B, Battery Smart has attracted investments from Tiger Global, Blume Ventures, and Ecosystem Integrity Fund.

    Financially, the company reported a 52% year-on-year increase in operating revenue to Rs 249 crore in FY25, achieving operating break-even and positive EBITDA recently.

    Source: Entrackr : Latest Posts

  • Gender Disparity Persists in Indian Startup Funding: Report Highlights Structural Inefficiencies

    This article was generated by AI and cites original sources.

    A recent report by Kalaari Capital reveals a stark gender gap in startup funding in India. The study, titled ‘The ₹4 Problem: Women Founders and the Market Gap Hiding in Plain Sight,’ found that startups led by women receive only Rs 4 out of every Rs 100 raised by founders.

    The report emphasizes that this funding disparity is not solely a diversity issue, but a structural market inefficiency. It suggests that enhancing women’s economic involvement could significantly boost India’s GDP by billions of dollars. Women-led MSMEs are faced with a credit deficit exceeding $158 billion, indicating vast untapped economic potential.

    Contrary to the perception of a weak pipeline of women founders, the report showcases a 1.7-fold increase in girls enrolling in high school STEM streams from 2013 to 2024, and a twofold surge in women registering for the JEE between 2015 and 2025.

    Vani Kola, managing director and founder of Kalaari Capital, highlighted that funding disparities result from capital concentration around familiar patterns, leading to market inefficiencies and missed opportunities. Kola stressed that addressing this gap requires deliberate intervention to ensure equality and efficient price discovery in the market.

    The report also noted that despite women constituting 38% of VC analysts in various firms, the…

    Source: Tech-Economic Times

  • Neysa’s $600 Million Funding Boosts Venture Capital in Indian Startups

    This article was generated by AI and cites original sources.

    Venture capital funding in India surged by 110% in February compared to the previous year, driven largely by Neysa’s $600 million funding round. This substantial investment has sparked optimism and momentum within the Indian startup ecosystem, showcasing the growing interest and confidence of investors in the region’s tech industry.

    The increase in venture capital inflow highlights the attractiveness of Indian startups to investors, with Neysa’s funding playing a pivotal role. The $600 million funding round, a record-breaking amount for an Indian startup, underscores the potential perceived by investors in the innovative solutions and technologies being developed within the country.

    As startups continue to innovate and disrupt various sectors, the backing of such substantial funding validates the entrepreneurial spirit and technological advancements in India, paving the way for further growth and expansion opportunities for these emerging companies.

    With Neysa’s funding acting as a significant catalyst in the rise of venture capital inflow, the Indian startup ecosystem is poised for continued progress and evolution, attracting attention on a global scale.

    Source: YourStory RSS Feed

  • Games24x7 Acquires 24% Stake in Wiseowl Securities: Diversifying into Financial Services

    This article was generated by AI and cites original sources.

    Online gaming company Games24x7 has acquired a 24% stake in Wiseowl Securities, the parent company of Butterfly Broking (TIQS). This strategic move, approved by Games24x7’s board through a special resolution, involves a significant investment of Rs 9.1 crore. Additionally, Games24x7 has agreed to provide a short-term loan of Rs 18 crore to Wiseowl Securities, as revealed in regulatory filings obtained by Entrackr.

    Wiseowl Securities functions as a stock broking entity and holds registrations as a mutual fund distributor with key financial institutions in India. Through its subsidiary, Butterfly Broking, Wiseowl offers a platform for trading in equities, derivatives, commodities, and currency on major stock exchanges like NSE and BSE.

    This acquisition aligns with a growing trend among real-money gaming (RMG) companies to diversify into regulated financial services. Facing challenges due to policy shifts, RMG firms are exploring new revenue streams and reducing regulatory risks by venturing into sectors like wealth-tech and capital markets.

    Source: Entrackr : Latest Posts

  • Oxyzo Expands into Fund Management with New Credit Fund

    This article was generated by AI and cites original sources.

    Oxyzo Financial Services, the lending arm of B2B ecommerce unicorn OfBusiness, has launched its debut credit fund, the Oxyzo Credit Fund I (OCF-I). This fund is designed to support mid-sized, investment-grade companies seeking growth capital.

    The OCF-I will primarily target secured debt investments, focusing on performing credit opportunities to deliver consistent, risk-adjusted returns while safeguarding invested capital. Managed by Oxyzo Investment Manager Private Limited, a subsidiary of Oxyzo, the fund has already initiated its investment activities after completing its initial funding round.

    Notable investors in the fund include high-net-worth individuals, family offices, and institutional investors. Oxyzo Investment Manager aims to expand its fund management operations to approximately ₹3,000 Cr over the next few years across various investment strategies.

    Established in 2016, Oxyzo initially operated as a lending entity within OfBusiness, providing financial assistance to SMEs for procurement, supply chain, and working capital needs. In its recent financial report, Oxyzo disclosed a 16.7% year-over-year increase in net profit and a 33.7% growth in operating revenue for FY25.

    Oxyzo has secured significant funding from investors like Alpha Wave Global, Tiger Global, Z47, Hinduja Leyland Finance, and AK Capital. Meanwhile, its parent company, OfBusiness, is preparing for an IPO following its transition to a publicly traded entity.

    Source: Inc42 Media

  • Indian Startups Secure $1.4B in February Funding: Driving Tech Innovation Beyond Kombucha

    This article was generated by AI and cites original sources.

    Indian startups secured a total funding of $1.4 billion in February, showcasing the resilience and innovation within the tech ecosystem. Despite the Neysa transaction inflating the total, the sector still demonstrated notable growth. This milestone highlights the financial prowess of Indian startups and the technological advancements driving their success.

    The funding surge has benefited a diverse range of industries, going beyond the traditional tech sectors. Companies exploring fields like healthcare, sustainable energy, and fintech have attracted substantial investments, indicating a broadening scope of innovation in the Indian startup landscape.

    While the funding amount is significant, the real story lies in the transformative technologies being developed by these startups. From AI-driven solutions to IoT platforms, these companies are at the forefront of technological evolution, reshaping industries and driving digital transformation.

    This funding milestone signifies the growing recognition of India as a hub for tech innovation. As startups continue to introduce cutting-edge solutions, the global tech community is taking notice, positioning Indian startups as key players in the international tech scene.

    Source: YourStory RSS Feed

  • Fintech Startup Moneyview Files for IPO, Aims to Expand Digital Lending

    This article was generated by AI and cites original sources.

    Fintech startup Moneyview has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). This move signals the company’s intent to enter the public market and raise funds to fuel its expansion plans in the digital lending space.

    The IPO includes a fresh issue of shares valued at ₹1,500 Cr and an offer for sale (OFS) of up to 13.61 Cr equity shares by existing shareholders. The net proceeds from the fresh issue will primarily be utilized to support the growth of Moneyview’s lending business.

    Established in 2014, Moneyview operates a digital-first lending model specializing in unsecured personal loans for underserved and new-to-credit customers. By leveraging in-house credit scoring models and alternative data, the company assesses borrowers and generates revenue through interest income on loans disbursed and fees from partner-led loans.

    Moneyview’s strategic allocation of funds from the IPO, including investments in loan disbursals and capital augmentation for its NBFC subsidiary, underscores its commitment to expanding its financial offerings and enhancing user engagement. Moreover, the company’s evolution into adjacent financial products like credit cards, Buy Now Pay Later (BNPL) services, and personal finance management tools showcases its dedication to diversifying its portfolio and enhancing customer experience.

    Source: Inc42 Media

  • Captain Fresh Expands Global Seafood Presence with Frime Acquisition

    This article was generated by AI and cites original sources.

    Bengaluru-based seafood supply chain company Captain Fresh has finalized the acquisition of Spain-based tuna processor Frime, enhancing its presence in key global seafood categories. Founded in 1977 and headquartered near Barcelona, Frime specializes in premium yellowfin tuna, catering to retail and foodservice clients across 33 countries, with a revenue exceeding €180 million ($213 million) and over 20% market share in Europe’s yellowfin tuna market.

    Through this strategic move, Captain Fresh expands its multi-species portfolio and secures a significant processing footprint in Europe. Frime’s operations span four production sites with an annual capacity of 15,000 tonnes of frozen products, 9,000 tonnes of fresh tuna, and 3,800 tonnes of semi-preserved items, following a recent €50 million ($59 million) investment in modern processing facilities in Barcelona.

    The acquisition bolsters Captain Fresh’s presence in crustaceans, salmon, and tuna categories. The company plans to leverage its distribution network in the United States to amplify Frime’s tuna reach and to grow its crustacean and salmon offerings across Europe. Frime’s current leadership, including chairman Salvador Ramon Mateo and CEO Pablo Múgica, will continue to guide the company within the Captain Fresh group.

    This acquisition follows Captain Fresh’s previous ventures, including the acquisition of Poland-based salmon company Koral in 2024, aimed at strengthening its European salmon market presence. Earlier acquisitions of US-based seafood importer CenSea and France-based seafood distributor Senecrus have also contributed to Captain Fresh’s global expansion strategy.

    Captain Fresh’s FY25 results show a significant 2.5X increase in gross merchandise value compared to the previous year, reaching Rs 3,421 crore. The company also shifted from a net loss of Rs 229 crore to a net profit of Rs 42 crore during the same period.

    Source: Entrackr : Latest Posts

  • PhonePe Aims for $10.5 Billion Valuation in Upcoming India IPO

    This article was generated by AI and cites original sources.

    PhonePe, a fintech company backed by Walmart, is preparing for its initial public offering (IPO) with a target valuation ranging from $9 billion to $10.5 billion. The company plans to raise between $900 million and $1.05 billion through the offering, which involves the sale of 50.7 million existing shares without issuing new ones. Notably, Walmart intends to reduce its stake, while investors like Tiger Global and Microsoft are looking to exit their positions.

    This move by PhonePe highlights the growing prominence of fintech startups in India’s tech landscape. The company’s IPO aspirations reflect confidence in its business model and the potential for further expansion in the digital payments sector.

    Source: Tech-Economic Times