wayr today India

Category: Startup

  • Karnataka CID Investigates Wealthtech Startup Jar’s Gold Storage Practices

    This article was generated by AI and cites original sources.

    Karnataka’s Crime Investigation Department (CID) recently conducted a search at the premises of wealthtech startup Jar to investigate potential violations related to its gold storage practices. The CID was particularly interested in understanding Jar’s gold storage protocols, including custody structure and security measures to protect customer assets, according to sources familiar with the matter.

    Following the Securities and Exchange Board of India’s (SEBI) warning to investors about unregulated ‘digital gold’ products, the scrutiny on Jar’s operations highlights the importance of regulatory compliance in the fintech sector. SEBI’s alert emphasized the risks associated with digital gold offerings that are not under its regulatory purview, exposing investors to counterparty and operational vulnerabilities.

    Jar, known for its mobile app enabling users to invest small amounts in digital gold, responded to inquiries by stating, ‘We are fully cooperating with the authorities and have provided all requested information. As the matter is subjudice, we refrain from commenting on specific allegations. We trust that the truth will surface through the legal process.’

    This investigation underscores the growing attention on the security and compliance aspects of fintech products, urging startups to adhere to regulatory standards to ensure investor protection and industry integrity.

    Source: Inc42 Media

  • Wint Wealth Sees Significant Financial Growth in FY25

    This article was generated by AI and cites original sources.

    Bengaluru-based debt investment platform Wint Wealth reported a robust financial performance in the fiscal year ending March 2025. The company’s operating revenue surged by 2.6 times, while losses shrank by over 60% to Rs 8.2 crore.

    Established in 2020, Wint Wealth caters to retail investors, offering opportunities to invest in fixed-income products like corporate bonds, securitized debt instruments, and non-convertible debentures (NCDs). Additionally, it extends B2B loans through its NBFC arm, Wint Capital.

    The firm’s operating revenue grew to Rs 44.5 crore from Rs 17.2 crore in the previous fiscal year, as reported in its financial statements filed with the Registrar of Companies (RoC). Interest income on debt securities, including earnings from loans disbursed by Wint Capital, contributed 69% to the total operating revenue, growing 3.9 times year-on-year to Rs 30.8 crore in FY25.

    Fee-based income from financial intermediary services and net gains from trading debt securities in the secondary market also contributed to the company’s income, which totaled Rs 46.8 crore.

    Employee benefit expenses, including ESOP costs, and interest payments were the significant expenses for the company. Various overheads, such as advertising, legal, professional, and administrative expenses, drove the firm’s total expenditure up by 32% to Rs 54.7 crore in FY25.

    The substantial growth in operating scale enabled the Zerodha-backed company to slash losses by over 60% to Rs 8.2 crore in the last fiscal year. As of March 2025, Wint Wealth reported current assets of Rs 296 crore, including Rs 35 crore in cash and bank balances.

    Source: Entrackr : Latest Posts

  • Wootzwork Raises $6.6 Million to Expand Global OEM Manufacturing Capabilities

    This article was generated by AI and cites original sources.

    Enterprise services startup Wootzwork has successfully raised $6.6 million in a Series A funding round to enhance its global original equipment manufacturing (OEM) capabilities. The funding, led by Z47 and with participation from investors like Nexus Venture Partners, AdvantEdge Founders, and Stride Ventures, will fuel the company’s plans for scaling its manufacturing control systems and expanding its engineering and program teams worldwide.

    Founded in 2023 by Karan Anand and Himanshu Uniyal, Wootzwork operates as a platform offering tailored fabrication and manufacturing solutions. By focusing on streamlining cross-border procurement through customized products and quote generation based on buyer inputs, the company aims to optimize the manufacturing process from design to delivery.

    Wootzwork’s approach to manufacturing complexity as a competitive advantage rather than a risk has gained attention. The company’s CEO, Karan Anand, stated, ‘When the system is engineered properly, complexity becomes leverage—not chaos.’ With a total funding of nearly $10 million, including a previous seed round, the startup has demonstrated its ability to execute intricate cross-border manufacturing projects for over 22 global enterprises across 12 international markets.

    Source: Inc42 Media

  • Beauty Unicorn Purplle Reduces Net Loss by 44% in FY25

    This article was generated by AI and cites original sources.

    Beauty e-commerce company Purplle has successfully reduced its net loss for FY25 by 44% to ₹69.4 Cr, down from ₹124.1 Cr in the previous year. The improvement in financial performance was primarily attributed to a significant increase in operating revenue, with the company’s top line surging by 101.2% to ₹1,367.3 Cr compared to ₹679.6 Cr in FY24.

    The key driver behind this growth was the substantial rise in product sales, which accounted for 80% of the total income and saw a remarkable 4X increase to ₹1,128.9 Cr during the fiscal year under review. Additionally, Purplle generated ₹173 Cr in revenue from platform advertisements.

    By transitioning its business model from a marketplace seller to an inventory-owned and controlled company, Purplle strategically enhanced its financial outlook. The startup’s transformation included acquiring inventory and paying a one-time non-compete fee of ₹20 Cr, leading to a total income of ₹1,409.3 Cr for FY25, up by 94.4% from the previous year.

    Founded in 2012, Purplle operates as a BPC-focused online marketplace offering a wide array of beauty, personal care, health, wellness, skincare, and cosmetic products. With 13 warehouses, 8 dark stores, and over 3,000 employees, the Mumbai-based company has expanded its reach by acquiring D2C brands like Faces Canada, Carmesi, Good Vibes, and NY Bae.

    Source: Inc42 Media

  • Tattvam AI Secures $1.7 Million in Pre-Seed Funding to Automate Semiconductor Chip Design

    This article was generated by AI and cites original sources.

    Tattvam AI, a deeptech startup specializing in AI systems for automating semiconductor chip design, has successfully raised $1.7 million in a pre-seed funding round led by Seedcamp. Other participants in this funding round include EWOR, Entropy Industrial Ventures, Concept Ventures, and semiconductor angel Stan Boland.

    The funding will be used to bolster the engineering team, expedite research efforts, introduce the company’s inaugural product to the market, and enhance collaborations with prominent chip design teams. Co-founded by Bragadeesh Suresh Babu and Lannan Jiang, Tattvam AI aims to revolutionize semiconductor development by facilitating faster chip design and customization for specific applications, thereby enhancing overall system performance.

    Custom silicon, as opposed to general-purpose chips, is tailored for particular workloads like AI training or inference, offering remarkable performance enhancements of up to 100x compared to general-purpose hardware such as GPUs, while consuming less power. Tattvam AI is developing a reasoning model that comprehends circuits from fundamental principles, encompassing constraints, trade-offs, and interdependencies, in order to automate and expedite the chip design process.

    By automating critical segments of the design process, the company aims to democratize custom silicon, curtail development expenses, and enable swift iterations in chip designs.

    Source: Entrackr : Latest Posts

  • Gut Clinic Raises $1M to Expand Digestive Health Services Across India

    This article was generated by AI and cites original sources.

    Healthcare technology company Gut Clinic has successfully raised $1 million in a seed funding round supported by a consortium of over 15 investors, including Amitoj Singh, Aman Rajpal, Ankur Kathuria of Alpha Wave Global, Juhi Bhatnagar, and Deepak Garg.

    The funding will enable Gut Clinic to expand its technology-driven healthcare services across India’s vast preventive healthcare market, valued at $197 billion. Established in 2024 by Akshat Kumar, Gut Clinic specializes in outpatient care focusing on gastroenterology, liver, and metabolic health, offering advanced diagnostic services and clinical consultations.

    Gut Clinic’s patient-centric approach utilizes technology-enabled infrastructure, digital marketing, and strategic partnerships to enhance digestive health awareness and treatment outcomes. The company’s outpatient and day-care model, integrated within hospital settings, aims to address gastrointestinal disorders effectively.

    Gut Clinic’s expansion strategy includes opening more than 20 new centers in the near future, extending its reach beyond the Delhi NCR region to Chandigarh, Punjab, and other parts of Northern India. The goal is to create India’s leading gastro-metabolic healthcare platform, focusing on early diagnosis, evidence-based treatment, and comprehensive disease management.

    Source: Entrackr : Latest Posts

  • Robotics Startup Armatrix Secures $2.1M Funding for Industrial Automation Expansion

    This article was generated by AI and cites original sources.

    Armatrix, a robotics startup focused on industrial automation, has successfully raised $2.1 million in its pre-seed funding round. The round was led by pi Ventures, with additional contributions from Inuka Capital, Boundless Ventures, Boost VC, Turbostart, and gradCapital. The company, known for developing robotic arms tailored for inspection and maintenance tasks in hazardous environments within industries like aviation, oil and gas, shipbuilding, and defense, aims to utilize the capital to advance product development and prepare for the upcoming pilot launch of its innovative robotic solutions.

    By focusing on the creation of snake-like flexible robotic arm technology, Armatrix seeks to revolutionize industrial maintenance practices, shifting from reactive and high-cost models to proactive, zero-downtime standards. Armatrix’s CEO and co-founder, Vishrant Dave, highlighted the significance of this funding in scaling operations from proof-of-concept to early adoption stages, demonstrating the platform’s capabilities across various inspection and operational fields.

    Source: Inc42 Media

  • Wyser Capital Secures First Tranche of Rs 50 Crore for AI-Focused Fund

    This article was generated by AI and cites original sources.

    Wyser Capital, an artificial intelligence (AI) investment fund, has successfully secured the first close of its inaugural fund, raising Rs 50 crore. The fund, founded by Suresh Vaswani, Supria Dhanda, and Satyakam Mohanty, aims to raise a total of Rs 200 crore within the next 18-24 months, underscoring the growing interest and investment in AI technologies within the startup ecosystem.

    Wyser Capital’s successful initial fundraising round signals a rising confidence in the potential of AI-driven solutions and applications. The fund’s focus on AI highlights the crucial role such technologies play in shaping the future of various industries, from healthcare to finance.

    As Wyser Capital continues its fundraising journey, the tech industry will closely observe how the fund strategically allocates these resources to support innovative AI ventures. The fund’s progress is a testament to the evolving landscape of tech investment and the pivotal role AI is set to play in driving forward technological advancements.

    Source: Tech-Economic Times

  • PRISM, Parent Company of OYO, Appoints Former SEBI Chairman Ajay Tyagi as Independent Director

    This article was generated by AI and cites original sources.

    PRISM, the parent company of OYO, has appointed Ajay Tyagi as an Independent Director on its board. Tyagi, a former chairman of the Securities and Exchange Board of India (SEBI) from 2017 to 2022, brings extensive experience in overseeing India’s securities markets and regulatory frameworks.

    Prior to his SEBI role, Tyagi held positions in the Ministry of Finance, focusing on capital markets and investment policy. As a 1984-batch Indian Administrative Service (IAS) officer, he has a history of senior government roles and currently serves on various company boards.

    The board of PRISM also includes prominent figures such as William Steve Albrecht, Troy Matthew Alstead, Deepa Malik, Bejul Somaia, Sumer Juneja, and Aditya Ghosh. PRISM operates a substantial number of hotel and home storefronts across numerous countries.

    In a move signaling potential future developments, PRISM had submitted confidential draft IPO papers to SEBI last year. The company’s recent financial report for Q1 FY26 showcased a notable net profit of over Rs 200 crore and revenues reaching Rs 2,019 crore.

    Source: Entrackr : Latest Posts

  • Pulse Secures $4 Million to Revolutionize Medical Equipment Manufacturing

    This article was generated by AI and cites original sources.

    Medical equipment startup Pulse has announced securing $4 million in seed funding, with investors including 3one4 Capital, Incubate Fund Asia, and Stride Ventures, as well as notable angel investors.

    The Bengaluru-based company, founded in 2025 by Anshul Sharma and Nishant Goel, aims to transform the medical equipment manufacturing landscape. Pulse’s approach involves partnering with MSMEs to produce affordable, high-quality medical products while focusing on design, compliance, and regulatory standards.

    The raised capital will enable Pulse to establish an R&D hub, accelerate product development, navigate regulatory processes, and enhance its distribution network both locally and in key export markets. Pulse plans to initially cater to mid-tier hospitals in India, offering critical care and renal care products.

    This funding signifies a milestone for Pulse as it strives to create a full-stack, asset-light medical equipment brand that prioritizes accessibility and compliance. With a focus on collaboration and efficiency, Pulse is poised to make an impact in the healthcare industry.

    Source: Inc42 Media