Tag: Entrackr : Latest Posts

Fintech company BharatPe has appointed Himanshu Verma as the new Head of its POS (Point-of-Sale) business division, signaling a strategic move to enhance its offline payment solutions.

Verma, with extensive experience in payments, telecom, and consumer tech, previously held key positions at Pine Labs, Freecharge, and other prominent firms. During his tenure at Pine Labs, he spearheaded the successful launch and growth of the Soundbox (Mini) product.

In his new role at BharatPe, Verma’s mandate includes overseeing merchant acquisition, bolstering distribution channels, and amplifying offline payment services. This development aligns with BharatPe’s intensified focus on offline transactions, particularly among small-scale merchants and retail establishments.

BharatPe, established in 2018, boasts a vast network of over 1.7 crore merchants across 450 cities. The company facilitates an impressive 450 million UPI transactions monthly, amounting to approximately Rs 12,000 crore in transaction value.

The POS arm of BharatPe annually handles transactions worth over Rs 27,000 crore through a network exceeding 1.25 lakh devices. With Verma’s appointment, the company aims to fortify its offline payment infrastructure alongside its UPI-driven services.

Source: Entrackr : Latest Posts

Neurotechnology startup Mave Health has secured $2.1 million in funding, led by Blume Ventures, to further develop its wearable headset designed to enhance focus, mood, and stress regulation.

The wearable headset utilizes transcranial direct current stimulation (tDCS) to target the prefrontal cortex through brief daily sessions. Weighing around 100g, the device delivers low-intensity electrical stimulation to brain regions associated with attention and emotional regulation, providing benefits during daily activities and lasting up to a month on a single charge.

Users can track their progress and personalize protocols via Mave’s companion app, without collecting sensitive brain data. The company reports that users have experienced significant improvements within a few weeks of use, with positive effects accumulating over time. The product is currently available for pre-order in the US and India, with shipments set to commence in April 2026.

Mave Health’s approach has garnered interest, with early sales and endorsements from tech leaders and athletes, such as UFC fighter Max Griffin. The company’s focus on non-invasive neurotechnology aims to enhance mental well-being and productivity.

Source: Entrackr : Latest Posts

Assiduus Global, an AI-powered cross-border, multi-platform e-commerce accelerator, has successfully raised $25 million in a pre-Series B funding round. The investment was led by Bajaj Finserv, with additional participation from Uncorrelated Ventures, Aaruha Technology Fund, Vikash Agarwal (Rupa Family Office), and other investors.

Founded by Somdutta Singh, Assiduus specializes in an AI-powered middleware platform for global e-commerce distribution and supply chain management. The company’s services are leveraged by over 150 enterprise brands in 20 countries, integrating with more than 18 global marketplaces and quick commerce platforms.

The latest funding will be used to enhance Assiduus’ AI and data capabilities, enabling its expansion into key markets like the Middle East, Europe, and Asia-Pacific. Additionally, the company aims to establish strategic partnerships with enterprises and government entities to further strengthen its presence and offerings.

Assiduus’ asset-light model, combining software, data systems, and execution infrastructure, has led to significant revenue growth and valuation increase. The company has maintained profitability at the PAT level for the past seven years, demonstrating its sustainable business approach.

The e-commerce accelerator’s end-to-end solutions encompass cross-border distribution, fulfillment, compliance, and performance tracking. With headquarters in Atlanta and operations spanning multiple countries, Assiduus continues to drive innovation in the global e-commerce landscape.

Source: Entrackr : Latest Posts

Bengaluru-based fintech startup WeRize, backed by British International Investment, reported a remarkable financial performance in the recent fiscal year. The company’s revenue reached Rs 236 crore, a 64% increase from the previous year. WeRize, founded by Vishal Chopra and Himanshu Gupta, offers a range of financial products, including mortgages, unsecured credit, insurance, and savings options, to a vast user base spanning over 300 million individuals in small cities.

Operating under the ‘Social Shopify of Finance’ model, WeRize leverages a network of over 10,000 freelancers in 2,500 cities to distribute financial services, eliminating the need for physical branches. Revenue from interest on loans, loan processing fees, and service sales contributed significantly to the company’s income.

Despite increased expenses in employee benefits and payouts to financial consultants, WeRize managed to double its profit to Rs 10 crore in FY25, showcasing a robust financial performance. The company’s prudent cost management strategies and revenue diversification have led to an improved ROCE of 13.08% and an EBITDA margin of 18.64%.

With a solid financial position and equity funding of around $25.75 million from prominent investors, WeRize is poised for further growth in the competitive fintech landscape.

Source: Entrackr : Latest Posts

Emversity, an education technology platform, has completed a $800,000 buyback of employee stock options from 20 long-serving team members. This move demonstrates the company’s commitment to employee engagement and retention.

The buyback offer was extended to employees who had joined the company on or before January 31, 2024, highlighting Emversity’s dedication to rewarding its long-standing workforce.

With over 700 employees across 24 states and 60 locations in India, Emversity continues to expand its footprint in the education and employment sector.

This announcement follows Emversity’s successful $30 million Series A funding round led by Premji Invest, underscoring the company’s rapid growth and investor confidence.

Emversity, founded by Vivek Sinha, former COO of Unacademy, has been making significant strides since its inception in April 2024. The platform, supported by employer-linked skill centers in healthcare and hospitality sectors in collaboration with NSDC, aims to address workforce shortages by providing industry-aligned training.

Emversity’s emphasis on creating predictable talent pipelines for industries in need has led to the enrollment of 4,500 learners across 40 campuses in under two years. The platform’s success in placing learners in key roles within healthcare and hospitality establishments underscores its effectiveness in bridging the gap between education and employment.

Source: Entrackr : Latest Posts

Online higher education platform upGrad has finalized a term sheet to acquire edtech company Unacademy in an all-stock deal. The exact valuation remains undisclosed until the formal completion of the acquisition.

The term sheet was finalized following earlier discussions between the two companies, which had broken down due to disparities in valuation processes.

upGrad co-founder Ronnie Screwvala revealed that the deal structure involves a share swap and incorporates a break fee in case the transaction falls through. Notably, Gaurav Munjal, the co-founder and CEO of Unacademy, will retain leadership, focusing on enhancing online learning products.

Screwvala commented, ‘We have agreed to acquire Unacademy in an all-stock agreement, with Gaurav Munjal continuing to steer Unacademy towards creating exceptional online educational products.’ He highlighted the potential synergy between Unacademy’s product offerings and upGrad’s comprehensive learning ecosystem, suggesting that upGrad’s integrated model from K12 to lifelong learning could witness enhanced growth post-acquisition.

Munjal confirmed the acquisition plan, emphasizing a 100% share swap execution.

Unacademy recently completed a Rs 50 crore ESOP buyback, with a significant participation rate from former employees. The company currently holds over $100 million in cash reserves.

Financially, Unacademy reported a 16% year-on-year revenue decline to Rs 826.3 crore in FY25. However, backed by SoftBank, the firm managed to reduce its EBITDA loss by 38% to Rs 305 crore and cut net losses by 31% to Rs 436 crore.

Source: Entrackr : Latest Posts

Gurugram-based proptech startup OfficeBanao has announced a $4 million investment as part of a larger $7.7 million funding round. The investment was led by Lightspeed Venture Partners, with additional participation from Mangum II and Medra Family.

Founded in 2022 by Tushar Mittal, Akshya Kumar, and Divyanshu Sharma, OfficeBanao specializes in providing tech-enabled solutions for commercial office interiors and workspace buildouts. The company’s services include design, procurement, project management, and execution for both offices and retail spaces.

OfficeBanao’s platform seamlessly connects various stakeholders, such as architects, contractors, designers, furniture vendors, and material suppliers, through an integrated system that manages workspace creation from the initial planning and 3D design stages to sourcing materials and overseeing construction.

With projects ranging from Rs 10 lakh to over Rs 5 crore, OfficeBanao caters to a diverse clientele, including startups, SMEs, and large enterprises. The company has successfully completed 200 projects across more than 40 cities in India.

OfficeBanao has experienced substantial revenue growth, with figures climbing from Rs 22 crore in FY23 to a projected Rs 138 crore in FY25. The company aims to achieve Rs 225 crore in revenue for FY26 as it expands its market presence.

OfficeBanao operates in a dynamic landscape, competing with rivals like Flipspaces and All Home, all of which are leveraging technology to offer innovative solutions for office and home interiors.

Source: Entrackr : Latest Posts

A group of former executives from Peak XV Partners is launching a new venture capital firm, Ambition Capital. The firm, led by Shailesh Lakhani, Harshjit Sethi, and Mayank Porwal, aims to raise $250 million to invest in seed and Series A startups, particularly in sectors like AI, fintech, deeptech, and consumer technology.

Headquartered in Bengaluru, Ambition Capital plans to fund approximately 26-30 startups from its pool. The fund’s strategic focus includes supporting startups that develop technology solutions for both local and global markets, with a focus on themes of digital sovereignty and fostering India-centric innovation.

Shailesh Lakhani, with over 17 years of investment experience at Peak XV Partners, has a track record of backing successful startups like Minimalist, Ixigo, and Zetwerk. Additionally, other former Peak XV executives, including Ashish Agrawal, Ishaan Mittal, and Tejeshwi Sharma, are also establishing their own venture capital fund.

Source: Entrackr : Latest Posts

Housing finance platform Weaver Services has successfully raised Rs 1,450 crore ($156 million) in funding. This capital injection will be used to acquire a 75.01% controlling stake in Centrum Housing Finance (CHFL), consolidating Weaver’s position in the housing finance sector.

The funding round was led by Premji Invest, an early supporter, and Lightspeed Venture Partners, making its inaugural foray into this domain. The participation of Gaja Capital and seasoned financial services professionals further underlines confidence in Weaver’s growth potential.

This fundraising builds upon a previous $170 million round led by Premji Invest and Lightspeed, with Gaja Capital also contributing. These investments are earmarked for acquisitions, technological enhancements, and geographical expansion into tier II and tier III markets.

Weaver Services has also signed definitive agreements with Morgan Stanley to acquire the remaining 24.99% stake in CHFL, establishing Weaver as the sole institutional owner of CHFL post-regulatory approvals.

The amalgamation of CHFL with People Home Finance, acquired in 2025, will result in a robust financial entity managing assets exceeding Rs 2,000 crore and a network of 140 branches nationwide. This combined entity will offer a range of financial products, including home loans, self-construction loans, home improvement loans, and loans against property, with a focus on enhancing credit accessibility for women.

Founded in 2024 by Satrajit Siva Bhattacharya and Anil Kothuri, Mumbai-based Weaver Services is a fintech-driven housing finance company committed to providing affordable home loans to underserved segments, particularly self-employed individuals in tier II and tier III cities.

Source: Entrackr : Latest Posts