wayr today India

Category: Startup

  • CoinDCX’s Record ESOP Buyback Boosts Employee Wealth in Crypto Sector

    This article was generated by AI and cites original sources.

    Crypto exchange CoinDCX has announced a significant ESOP (Employee Stock Ownership Plan) buyback valued at Rs 111 crore, benefiting over 500 current and former employees. This move aims to foster wealth creation within the company.

    The buyback follows CoinDCX’s substantial post-money valuation of $2.45 billion after receiving an undisclosed investment from Coinbase earlier this year. The platform also garnered $135 million in funding in April 2022, solidifying its position in the crypto market.

    CoinDCX co-founder Sumit Gupta highlighted the resilience of the Indian crypto industry despite regulatory challenges. He credited the company’s strength to the trust of millions of customers in India and the UAE, as well as support from investors and partners.

    Established in 2018, CoinDCX offers crypto trading and investment services to a user base exceeding 20 million in India. The platform caters to both retail and institutional investors, with a wide array of supported assets and trading pairs. In 2024, CoinDCX expanded into the MENA region through the acquisition of BitOasis.

    Operating under the DCX Group umbrella, which includes CoinDCX Ventures and the Web3 wallet platform Okto, CoinDCX has positioned itself as a prominent player in the crypto space.

    This ESOP buyback aligns with a broader trend in 2026, with several notable companies like Cashfree, Innovaccer, and BrowserStack also implementing similar programs. The activity in ESOP buybacks reflects a dynamic shift in employee incentivization strategies within the tech and startup ecosystem.

    Source: Entrackr : Latest Posts

  • Agrithink Services Empowers Assam Farmers with Smart Microclimate Technology

    This article was generated by AI and cites original sources.

    Agrithink Services, a startup in India’s growing agri-tech sector, is equipping farmers in Assam with innovative smart microclimate technology. By leveraging IoT-powered microclimate monitoring and resilient farming solutions, the company aims to help farmers make data-driven decisions, optimize crop cultivation, and enhance agricultural productivity.

    Assam’s farmers can now better adapt to changing weather patterns, mitigate risks, and improve overall outcomes through Agrithink Services’ solutions. This integration of technology into agriculture not only boosts efficiency but also promotes environmental sustainability.

    The implementation of smart microclimate technology enables farmers to monitor and respond to local climate conditions, empowering them to achieve long-term agricultural success. Agrithink Services’ commitment to advancing farming practices underscores the transformative potential of technology in the agricultural sector.

    Source: YourStory RSS Feed

  • JM Financial Expands into Pre-IPO Investments with New AIF Launch

    This article was generated by AI and cites original sources.

    JM Financial Asset Management has unveiled its inaugural pre-IPO Alternative Investment Fund (AIF), dubbed ‘The Pre-IPO Fund,’ under Category II. The fund recently secured approval from the Securities and Exchange Board of India (SEBI), marking the firm’s strategic move to enter the rapidly growing pre-IPO investment sector.

    The primary objective behind introducing the Pre-IPO Fund is to establish a comprehensive AIF ecosystem that nurtures the upcoming wave of businesses in India. This initiative is structured to offer specialized capital solutions spanning credit, real estate, and pre-IPO prospects.

    Targeting companies poised to go public within 18 months, the Pre-IPO Fund is designed to capitalize on the escalating trend of pre-IPO investments, recognized for their potential to yield superior risk-adjusted returns, especially amidst the maturing startup and private markets in India.

    Overseeing the fund’s operations is Jaisinh Suchak, the Managing Director of Alternative Investment Funds at JM Financial Asset Management, bringing extensive financial services experience spanning 23 years and a decade of buy-side expertise to the table.

    By rolling out its debut Pre-IPO AIF, JM Financial Group aims to diversify its private equity offerings and solidify its standing as a reliable investment partner. Leveraging market insights, robust governance protocols, and established fund management capabilities, the firm seeks to unearth distinctive investment prospects for stakeholders navigating India’s evolving private markets.

    Source: Entrackr : Latest Posts

  • AI Pioneer Fei-Fei Li’s Startup World Labs Secures $1 Billion in Funding

    This article was generated by AI and cites original sources.

    AI pioneer Fei-Fei Li’s startup, World Labs, announced a significant achievement – securing $1 billion in funding. This substantial investment came from major tech players, including chip companies AMD and Nvidia, software firm Autodesk, Emerson Collective, Fidelity Management & Research Company, and Sea, among others.

    This funding milestone marks a notable investment in World Labs’ technological advancements and potential impact on the AI landscape. With the support of these renowned tech investors, World Labs is well-positioned to further innovate and drive advancements in artificial intelligence.

    Fei-Fei Li’s expertise has attracted a diverse group of investors, highlighting the industry’s recognition of the startup’s approaches. This funding influx not only provides financial stability but also opens doors for collaborations and partnerships that can propel World Labs’ AI development.

    Source: Tech-Economic Times

  • Zepto Streamlines Offerings, Discontinues Loyalty Program Ahead of IPO

    This article was generated by AI and cites original sources.

    Zepto, the quick commerce startup preparing for an initial public offering (IPO), has decided to discontinue its loyalty and subscription program, Zepto Daily, as part of its efforts to simplify its offerings. The subscription plan is no longer visible on Zepto’s app, which has undergone various changes in recent months.

    The move to end Zepto Daily comes after the company launched Zepto Pass, a reduced-price subscription at ₹99 per month, aimed at increasing order frequency. However, the subscription plan was later removed from the app as Zepto continues to refine its offerings to provide greater value to its customers.

    A Zepto spokesperson stated that the company is committed to enhancing the user experience by experimenting with different offerings to deliver meaningful value to its customers. The decision to discontinue the loyalty program was based on user feedback, engagement trends, and long-term value considerations.

    This change in strategy reflects Zepto’s focus on creating straightforward and customer-centric offerings that align with customer preferences. The move also highlights the competitive landscape in the quick commerce sector, where platforms compete for customer loyalty through factors like delivery speed, pricing, and product availability.

    Source: Inc42 Media

  • EV Charging Startup Statiq Secures $18M to Expand Network

    This article was generated by AI and cites original sources.

    EV charging startup Statiq has secured $18 million in funding to enhance its charging infrastructure and expand its network across Tier I and II cities. The investment, led by Tenacity Ventures with contributions from Y Combinator, Shell Ventures, and RCD Holdings, will support Statiq in doubling its charger network to 20,000 units by the end of 2026.

    Statiq’s core technology revolves around a comprehensive charging platform integrated with proprietary AC/DC fast chargers and in-house software. The company plans to deploy DC fast chargers along major highways, improve product reliability to achieve 99.9% uptime, and commence hardware exports to global markets.

    Co-founder and CTO Raghav Arora highlighted the focus areas for the capital infusion, emphasizing enhancements in hardware lifecycle management, software fortification, telematics, and global systems interoperability to facilitate partner collaborations and innovation.

    Established in 2020, Statiq offers end-to-end EV charging solutions including smart charger manufacturing, a mobile app for booking charging slots, and infrastructure management for commercial and residential partners. The company collaborates with various entities like government agencies, automakers, and hospitality firms to extend its charging network to approximately 100 cities, boasting over 10,000 installed chargers.

    As the demand for EVs surges, Statiq’s funding boost underscores the critical role of robust charging infrastructure in accelerating the adoption of electric vehicles.

    Source: Inc42 Media

  • AI-Powered Peptris Raises ₹70 Cr to Accelerate Drug Discovery

    This article was generated by AI and cites original sources.

    AI-powered drug discovery startup Peptris has successfully raised ₹70 Cr ($7.7 Mn) in a recent Series A funding round. This funding, co-led by IAN Alpha Fund and Speciale Invest, aims to scale Peptris’s AI-driven platform, accelerating the preclinical drug discovery process.

    Founded in 2019, Peptris focuses on leveraging AI and machine learning to streamline the drug discovery phase. By integrating unsupervised learning and generative AI, the company aims to design optimized molecules suitable for drug applications.

    The new capital will be used to advance Peptris’s pipeline, move programs towards clinical readiness, and establish global partnerships. The startup plans to launch multiple Novel Chemical Entities (NCE) programs and explore drug repurposing initiatives that could potentially revive shelved clinical-stage drugs.

    Peptris also intends to expand its operations, including growing its team across functions such as biology, chemistry, data science, and AI. The company will establish dedicated business development units in the US and Europe.

    Peptris’s revenue model primarily relies on licensing deals, milestone payments, and royalties. The startup collaborates with academia, biotech, pharma companies, and rare disease organizations to drive its AI-driven drug discovery efforts.

    Source: Inc42 Media

  • MagicBricks CEO Sudhir Pai Departs After 15-Year Tenure

    This article was generated by AI and cites original sources.

    Sudhir Pai, the CEO of proptech platform MagicBricks, has announced his resignation after leading the company for over 15 years. In an internal email to the MagicBricks team, Pai shared his intention to take time to reflect on his future plans.

    MagicBricks, founded in 2006, is a prominent online marketplace for real estate transactions, competing with platforms like NoBroker and 99acres. As a subsidiary of Times Internet, the company has shown profitability in recent years and has been contemplating a potential IPO in the near future.

    Pai’s departure marks a significant change in leadership for MagicBricks at a time when the company is strengthening its position in the market through strategic growth initiatives, including recent acquisitions to enhance its technological offerings. The proptech sector continues to evolve rapidly, with companies leveraging advanced technologies to enhance user experiences and streamline property transactions.

    Source: Inc42 Media

  • Qualcomm Invests $150 Million in Indian AI Startups to Drive Edge AI Innovation

    This article was generated by AI and cites original sources.

    American multinational Qualcomm has announced a $150 million investment in India’s technology and AI startup ecosystem through its investment arm, Qualcomm Ventures. The investment will be channeled via the new ‘Strategic AI Venture Fund’ to support startups developing edge AI technologies for various industrial applications, such as automotive, IoT, robotics, and mobile.

    The decision to invest in the Indian startup ecosystem was unveiled during the India AI Impact Summit in New Delhi, attended by Qualcomm CEO Cristiano Amon. Amon highlighted the evolving role of AI, transitioning from software-centric applications to integration into everyday scenarios like smartphones, computers, cars, and industrial machinery. He emphasized that edge AI advancements will revolutionize industries, with India’s startup landscape playing a pivotal role in driving innovation across sectors.

    Qualcomm’s venture fund will focus on startups working on edge AI and technologies with tangible industrial implications, encompassing intelligent computing and wireless technology. Leveraging its expertise, global network, and regional team in India, Qualcomm aims to provide financial support and technological guidance to startup founders.

    With a history of strategic investments in sectors aligned with its core technologies like telecom and wireless, Qualcomm has previously backed prominent companies including Jio Platforms, MapmyIndia, ideaForge, and Shadowfax. Notably, Qualcomm Ventures recently participated in an $8 million funding round for SpotDraft, an AI-driven enterprise tech startup.

    Source: Inc42 Media

  • Vervesemi Secures $10M to Advance Its ML-Enhanced Analog Signal Chain IC Portfolio

    This article was generated by AI and cites original sources.

    Fabless semiconductor startup Vervesemi has secured $10 million in its Series A funding round to accelerate the commercialization of its ML-enhanced analog signal chain IC portfolio. The funding, led by Ashish Kacholia and Unicorn India Ventures, along with Roots Ventures, Caperize Fina, MAIQ Growth Scheme, and several high-net-worth individuals, will also support the production of current silicon chips, hiring efforts, IP portfolio expansion, and R&D in precision analog architectures.

    Founded in 2017, Vervesemi focuses on developing application-specific integrated circuits for sensors and wireless devices. With a range of semiconductor IP blocks and IC product variants, the company serves diverse sectors such as space, defense, industrial, motor control, and smart energy applications.

    The funding infusion will enable Vervesemi to transition from technology validation to large-scale deployment, positioning itself as a global provider of intelligent analog mixed signal semiconductor solutions. The company plans to strengthen its presence in key semiconductor markets across Asia, the US, and other regions.

    Source: Inc42 Media