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Tag: Entrackr : Latest Posts

  • Policybazaar Announces Leadership Transition as Tarun Mathur Resigns as CEO

    This article was generated by AI and cites original sources.

    Tarun Mathur has announced his resignation as the chief executive officer and principal officer of Policybazaar, a subsidiary of PB Fintech, effective from April 7 due to personal commitments, according to a regulatory filing.

    Succeeding Mathur, Sajja Praveen Chowdary has been appointed as the new principal officer, CEO, and whole-time director of Policybazaar. Chowdary, who has been with PB Fintech since 2011, currently leads Policybazaar for Business, focusing on corporate and SME insurance as well as reinsurance solutions. With a background spanning business management, product, and technology, Chowdary has been instrumental in expanding Policybazaar’s retail insurance offerings like motor and term life, introducing customer-centric solutions.

    Chowdary, with over 17 years of experience in e-commerce, holds a postgraduate degree in marketing from IMT Ghaziabad and a BTech in electronics and communications. Mathur, an 18-year veteran at Policybazaar, held various leadership roles, including co-founder and chief business officer, overseeing areas such as analytics, revenue management, and life insurance strategies.

    Source: Entrackr : Latest Posts

  • Urban Company’s InstaHelp Reaches 1 Million Monthly Bookings

    This article was generated by AI and cites original sources.

    Gurugram-based Urban Company has achieved a significant milestone as its quick-service housekeeping vertical, InstaHelp, surpassed 1 million monthly delivered bookings in March, with several days left in the month. This achievement follows the platform’s impressive performance of over 50,000 daily orders in February, positioning InstaHelp as a rapidly growing business unit within Urban Company.

    Operating in major Indian cities like Mumbai, Bengaluru, Delhi NCR, Hyderabad, and Pune, InstaHelp offers on-demand housekeeping services including cleaning, dishwashing, laundry, and meal preparation, with fulfillment timelines of just 10–15 minutes from booking.

    Urban Company’s CEO and co-founder, Abhiraj Singh Bhal, noted that InstaHelp’s growth reflects the increasing trust consumers have in the platform for their everyday and immediate needs. The rapid expansion of InstaHelp has impacted Urban Company’s financials, with the company reporting a consolidated net loss of Rs 21 crore and an adjusted EBITDA loss of Rs 17 crore in Q3 FY26, primarily due to investments in the InstaHelp vertical.

    InstaHelp competes in the instant home services sector alongside players like Snabbit and Pronto, and has emerged as a market leader, commanding a 49.2% market share in the segment, with Snabbit at 36.4% and Pronto at 14.3%. Pronto recently secured $25 million in a Series B funding round, while Snabbit is reportedly seeking $50–60 million in an upcoming funding round, indicative of the sector’s growth and investor interest.

    Source: Entrackr : Latest Posts

  • Myntra Leadership Transition as CEO Nandita Sinha Departs

    This article was generated by AI and cites original sources.

    Nandita Sinha, the CEO of Myntra, is preparing to leave her position in the upcoming weeks, as reported by Moneycontrol. Sinha has been an integral part of the Walmart-owned Flipkart Group since 2013 and assumed the role of Myntra’s CEO in 2022.

    Amid Sinha’s departure, speculations suggest that Sharon Pais, the current head of Flipkart Fashion and former chief business officer at Myntra, may be the likely successor to lead the renowned fashion e-commerce platform. Pais transitioned to the role of business unit head for Flipkart Fashion in November 2025.

    When contacted, a spokesperson from Myntra declined to comment on market rumors regarding Sinha’s exit.

    The news of Sinha’s departure comes as Myntra has showcased robust financial performance, with profits soaring significantly to Rs 548 crore in FY25 from Rs 30 crore in FY24. Additionally, the company reported an 18% growth in revenue, reaching Rs 6,042.7 crore in FY25.

    In November 2024, Myntra expanded into the quick commerce sector by introducing M-Now, a service that promises delivery of fashion and beauty products within 30 minutes to 2 hours. This initiative positions Myntra in competition with emerging players like Slikk, Knot, and Zilo.

    Sinha’s departure marks a notable leadership transition within the Flipkart Group, coinciding with the company’s plans for an initial public offering (IPO).

    Source: Entrackr : Latest Posts

  • Fidelity Adjusts Gupshup’s Valuation: Insights into the Tech Investment Landscape

    This article was generated by AI and cites original sources.

    US-based asset manager Fidelity Investments has significantly reduced the valuation of conversational AI startup Gupshup, marking a decline in its worth to $300 million. This markdown follows a series of valuation adjustments, with Fidelity revising Gupshup’s value down from $1.4 billion to the current figure.

    Gupshup, founded in 2004, specializes in providing conversational messaging and AI-driven engagement tools for businesses globally. Despite a strong presence in India, where it generated significant revenue, the company’s global operations play a crucial role in assessing its overall financial health.

    The investment landscape for startups like Gupshup has been volatile, with initial valuations often subject to revision as market conditions and performance metrics evolve. Fidelity’s decision reflects the ongoing evaluation of the startup’s financial standing and market positioning.

    While Gupshup’s journey includes raising funds and setting ambitious plans, the recent valuation adjustment underscores the importance of continuous monitoring and assessment in the tech investment ecosystem.

    Source: Entrackr : Latest Posts

  • Info Edge’s Strategic Investments: Exiting Shopkirana, Investing in A88 Fund

    This article was generated by AI and cites original sources.

    Info Edge, a prominent player in the tech investment landscape, has recently approved a series of strategic transactions that highlight its focus on technology-driven investments. The core of these moves involves a swap deal where Info Edge will transfer its stake in Shopkirana E Trading Pvt Ltd to Trustroot Internet, a Singapore-based entity, in exchange for a stake in Trustroot and a fresh commitment to a new alternative investment fund.

    The swap deal will see Info Edge exiting Shopkirana directly while maintaining an indirect exposure through Trustroot. Shopkirana, a company with significant revenue, will no longer be an associate post-transaction, contrasting with Trustroot’s operations as an investment holding and SaaS platform.

    Additionally, Info Edge’s commitment of up to Rs 250 crore to A88 Fund I, managed by Smartweb Internet Services, underscores its support for early-stage deeptech startups in India. This move aligns with the company’s strategy to diversify its investment portfolio and tap into emerging tech opportunities within the Indian startup ecosystem.

    Source: Entrackr : Latest Posts

  • Pronto’s Rapid Growth Signals Increasing Demand for On-Demand Home Services

    This article was generated by AI and cites original sources.

    Pronto, a home services startup, has achieved significant milestones in its first year of operations, with over 500,000 monthly fulfilled bookings and a daily booking rate of 22,000 by the end of March. The platform connects households with trained service professionals for tasks like cleaning and laundry, emphasizing quick service delivery and repeat usage.

    The company’s success is underscored by a recent $25 million Series B funding round led by Epiq Capital, showcasing investor confidence in the sector. These funds will support Pronto’s expansion into new cities, enhancing service quality and increasing supply.

    Competing in a dynamic market, Pronto faces challenges from established players like Urban Company’s InstaHelp, which surpassed 1 million bookings in March. Additionally, emerging platforms like Snabbit are gaining traction, with plans to raise $50–60 million in their next funding round.

    Source: Entrackr : Latest Posts

  • Indian Startup Funding Reaches Nearly $4 Billion in Q1 2026, Driven by Tech Innovations

    This article was generated by AI and cites original sources.

    Indian startups witnessed a significant increase in funding during Q1 2026, with total investments nearing $4 billion, marking one of the highest quarterly totals in recent years. The surge was driven by Neysa’s $1.2 billion funding round, showcasing the growing interest in tech-driven ventures. Other notable companies like Weaver Services, Arya.ag, Drivn, and Emergent also secured substantial funding, highlighting the momentum in the tech startup ecosystem.

    Early-stage funding activities were particularly noteworthy, surpassing $1 billion in total investments. This milestone signifies a resurgence in investor confidence at the seed and Series A stages, indicating a promising outlook for budding tech startups.

    While the quarter displayed robust funding trends, it also reflected challenges within the ecosystem. Companies like Livspace, Flipkart, Zupee, and Dream Sports faced layoffs, underscoring the competitive landscape and the need for operational efficiency. Additionally, global uncertainties prompted PhonePe to temporarily halt its IPO plans.

    Looking ahead, the filing of DRHPs by several companies towards the quarter’s end hints at a potential uptick in IPO activities, suggesting a positive trajectory for the Indian startup scene.

    Overall, Q1 2026 showcased a strong emphasis on tech-led solutions and scalable business models, with Series A funding emerging as a prominent stage for investor activity.

    Source: Entrackr : Latest Posts

  • Gupshup Reports 52% Profit Decline Amid Operational Slowdown in FY25

    This article was generated by AI and cites original sources.

    Conversational AI platform Gupshup faced a 52% decline in profits for the fiscal year ending March 2025, following a slight decrease in its operational scale post a robust FY24. The company’s India revenue dropped by 5.3% to Rs 1,943 crore from Rs 2,051 crore in the previous fiscal year.

    Gupshup caters to over 50,000 businesses in 130 countries, processing 120 billion messages annually across various platforms. Its revenue sources include mobile messaging services, text-based advertising, and software development charges. In FY25, the firm earned a total income of Rs 1,957 crore, with non-operating income contributing Rs 14 crore.

    Despite stable overall expenses, a 50% decrease in net profits to Rs 26 crore in FY25 was attributed to the decline in operational scale. The company’s ROCE and EBITDA margin were reported at 12.72% and 3.91%, respectively.

    With a focus on financial discipline and efficiency under new Chief Financial Officer Ravi Dugar, Gupshup aims for a more stable growth trajectory ahead.

    Source: Entrackr : Latest Posts

  • Info Edge’s Naukri CBO Resigns Amid Revenue Growth

    This article was generated by AI and cites original sources.

    Info Edge (India) Ltd, the parent company of Naukri.com, 99acres, and Jeevansathi, has confirmed the resignation of its Chief Business Officer (Naukri) and Whole-time Director, Pawan Goyal. Goyal, who has been with the company for seven years, is stepping down to pursue other interests, as reported by Entrackr : Latest Posts.

    Goyal will remain in his role until May 31, 2026, after which he will relinquish all responsibilities, including his board committee positions. During his tenure, Goyal led the business to a 16.8% Compound Annual Growth Rate (CAGR) and saw the operating profit before tax (PBT) margin increase from 53% to nearly 57%.

    Despite Goyal’s departure, Info Edge reported a 12% year-on-year rise in standalone revenue to Rs 747 crore in Q3 FY26. As the overseer of the Recruitment Solutions segment, which includes Naukri.com, Goyal played a key role in driving revenue growth. The segment contributed Rs 548 crore in Q3 FY26, up from Rs 494 crore in the previous year.

    Following Goyal’s exit, the company is yet to announce a successor for the Chief Business Officer position. Info Edge (India) Ltd recently finalized its exit from Shopkirana through a share swap deal with Trustroot Internet Private Limited, the parent company of Udaan, and also sanctioned an investment commitment of up to Rs 250 crore to A88 Fund.

    As of midday today, Info Edge’s shares are trading at Rs 972 each, with a total market capitalization of Rs 63,130 crore (approximately $6.8 billion).

    Source: Entrackr : Latest Posts

  • Gabify Secures $175K in Pre-Seed Funding for AI-Powered Neurodevelopmental Care Platform

    This article was generated by AI and cites original sources.

    Gabify, a healthtech startup focused on neurodevelopmental care, has raised $175,000 in a pre-seed funding round led by Inflection Point Ventures. The company, founded in 2023 by Sahil Chopra, Prachi Sood, and Vasyl Leshchuk, plans to use the funds for clinical validation, technology advancements, and team expansion.

    Gabify’s platform aims to provide early screening and therapy management for speech and neurodevelopmental disorders like autism and ADHD. The platform leverages a dual AI system that combines voice and vision analysis to assess speech patterns, facial expressions, and behavioral indicators based on clinically validated parameters.

    The startup’s technology follows a human-in-the-loop approach for clinical validation and has already been deployed across more than 35 preschools and daycare centers, as well as utilized in schools, hospitals, and clinics.

    The funding, including Rs 25 lakh from the Nidhi Seed Support Scheme, will help Gabify expand its reach through various models, with a target impact across one million children by 2028. Gabify’s recognition among the top 10 startups under DreamDeal and its participation in Inflection Point Ventures’ IdeaSchool program highlight its potential in the healthtech sector.

    Source: Entrackr : Latest Posts