Category: Startup

Aye Finance, a non-banking financial company (NBFC) focused on micro, small, and medium enterprises (MSMEs), made its stock market debut with a flat listing at the issue price of ₹129 on both the BSE and NSE. The company’s initial public offering (IPO) comprised a fresh issue size of ₹710 Cr and an offer-for-sale (OFS) component of ₹300 Cr, garnering a subscription of 97%. Despite an optimistic start, the stock closed its first trading session at ₹128.90, marginally below the IPO price.

Founded in 2014 by Vikram Jetley and Sanjay Sharma, Aye Finance specializes in offering small-ticket business loans to MSMEs, aiding in working capital and business expansion. The IPO valued the NBFC at around ₹3,183 Cr at the upper end of the price band. Notable investors like Alpha Wave India I LP and CapitalG LP were among those who offloaded shares via the OFS. MAJ Invest Financial Inclusion Fund II emerged as a major beneficiary, securing a 1.7X return on its initial investment post the public listing.

The significance of Aye Finance’s stock market debut lies in the tech implications for the fintech sector. As a tech-driven NBFC, Aye Finance’s IPO and subsequent performance reflect investor sentiment towards technology-enabled financial services catering to the underserved MSME segment. This listing could set a precedent for other tech-focused financial institutions looking to tap into the capital markets for growth and expansion.

Source: Inc42 Media

Exponent Energy, known for its expertise in EV rapid charging, has made a strategic move into the EV financing sector by launching a subsidiary named ‘Exponent One.’ The startup has partnered with former evfin CEO Sandeep Divakaran, who will serve as the new subsidiary’s CEO.

Exponent One’s growth has been bolstered by a $2 million investment from VC firm AdvantEdge during a pre-seed funding round. This capital injection aims to facilitate Exponent One’s expansion into prominent commercial EV hubs.

Addressing critical industry challenges, Exponent One will provide tailored financing solutions for commercial EV operators. Leveraging real-time vehicle and charging data, the subsidiary will offer adaptive underwriting and earnings-linked financing options for driver-owners and small fleet operators. By incorporating flexible repayment structures, integrated protection mechanisms, and guaranteed buybacks, Exponent One aims to enhance asset reliability, minimize lender risk, and foster long-term financial stability for operators.

Through partnerships with traditional financiers, Exponent One plans to extend its EV financing services across various vehicle segments, including three-wheelers, four-wheelers, light commercial vehicles (LCVs), buses, and trucks.

Source: Inc42 Media

Former BharatPe CEO Suhail Sameer has successfully closed the first fund of OTP Ventures at ₹500 Cr, surpassing its initial target of ₹400 Cr after a 17-month fundraising exercise that commenced in August 2024.

The fund received commitments exceeding ₹750 Cr by January 2026, but Sameer decided to cap it at ₹500 Cr to maintain ‘fund size discipline and return considerations’.

Initial contributions of ₹180-200 Cr came swiftly from founders, colleagues, friends, and venture capital investors, while the fund faced challenges with institutional investors and family offices in subsequent quarters.

By November 2025, the fund had exceeded the original target, with a diversified LP base of approximately 55 investors, including about 20 startup founders. Sameer emphasized the importance of honoring existing investors’ trust by limiting the fund size and rejecting additional institutional investments.

Source: Inc42 Media

Recent actions by the Reserve Bank of India (RBI) have affected the stock market, particularly impacting online brokerages like Groww and Angel One. The technology underlying these platforms is now facing scrutiny as the RBI tightens lending norms for stockbrokers.

Following the announcement of tighter regulations, Groww and Angel One saw significant drops in their share prices during intraday trading. The RBI’s decision to cap loan-to-value ratios for retail investors and impose stricter collateral and exposure norms on brokers has immediate implications for these platforms.

For tech enthusiasts, this move highlights the critical role technology plays in modern finance. Online brokerages rely heavily on sophisticated platforms to facilitate seamless trading experiences for their users. With lending norms being tightened, these platforms will need to adapt their technology to comply with the new regulations while maintaining a user-friendly interface.

As the RBI’s measures aim to reduce leverage-driven trading and speculative participation in equities, tech companies like Groww and Angel One will need to innovate and adjust their platforms to ensure compliance and mitigate potential risks associated with the new norms.

Looking ahead, the impact of these regulatory changes on the tech infrastructure of online brokerages will be closely watched by industry observers, as it will provide insights into how technology can adapt to evolving financial regulations.

Source: Inc42 Media

India’s agritech market is poised for significant growth, projected to expand from $9 billion in 2025 to $28 billion by 2030. This trajectory marks a pivotal moment for the industry, with startups at the forefront of reshaping the agricultural landscape through innovative technology solutions.

The UpNext series, a collaborative effort between Inc42 and StarAgri, explores the origins, business models, technology stacks, and scaling strategies of nine emerging agritech startups driving change in India’s agricultural economy. These startups are addressing long-standing challenges such as fragmented supply chains, price opacity, and working capital constraints.

By leveraging technologies like data analytics, logistics intelligence, and platform-driven models, these agritech companies are ushering in a new era of efficiency and connectivity in Indian agriculture. From enhancing procurement processes to improving market access and streamlining post-harvest operations, technology is playing a pivotal role in modernizing every aspect of the agricultural value chain.

Inc42’s Indian Agritech Market Landscape Report 2025 highlights the sector’s shift towards more integrated and impactful solutions, moving beyond experimental phases to establish deep-rooted ties within the agricultural ecosystem. This transformation is a fundamental restructuring of how value is created and distributed in the sector.

As the Indian agritech landscape evolves rapidly, UpNext offers a comprehensive exploration of the innovations and strategies propelling the industry forward. By shedding light on the inner workings of these startups, the series aims to showcase the immense potential and transformative power of technology in revolutionizing India’s agricultural economy.

Source: Inc42 Media