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Tag: Entrackr : Latest Posts

  • SqaaS Unveils ShellBot: Personalized AI Assistants for Everyday Use

    This article was generated by AI and cites original sources.

    Indian travel tech company ixigo-backed AI startup SqaaS has launched a new platform called ShellBot, allowing users to create their own personal AI assistants that operate around the clock.

    The launch reflects ixigo’s increased focus on AI investments following its acquisition of a 45.02% stake in SqaaS, a Spain-based company, in February 2026.

    ShellBot represents SqaaS’s vision of a future where AI agents transition from assistants to independent systems integrated into daily workflows. This aligns with the growing demand for platforms that offer a seamless blend of usability, security, and autonomy, potentially reshaping the adoption of AI from experimental to mainstream infrastructure.

    ShellBot offers subscription plans starting at $29 per month, with a Pro plan priced at $59 per month.

    Established in 2023, SqaaS is an early-stage AI technology firm in Spain. ixigo’s partnership with SqaaS aims to enhance the former’s AI capabilities and accelerate the development of intelligent travel automation tools, in line with its European expansion strategy.

    Leveraging SqaaS’s expertise, ixigo integrates its platforms – ixigo, ConfirmTkt, and AbhiBus – to provide advanced tech-driven travel solutions and benefit from Trenes’ local market knowledge in Spain.

    Source: Entrackr : Latest Posts

  • Coronation Fund Managers Increases Stake in ixigo’s Parent Company: Implications for Tech Investors

    This article was generated by AI and cites original sources.

    Coronation Fund Managers, a South African-based firm, has increased its ownership in Le Travenues Technology, the parent company of popular travel platform ixigo, through an open market transaction. The firm acquired 475,000 equity shares on March 30, 2026, raising its stake from 6.90% to 7.01%. This marks the second recent increase, following a rise to around 5% in February 2026. The move did not impact the overall share capital of 43.81 crore shares.

    Coronation Fund Managers, acting as a discretionary fund manager, manages funds for global investors. The company’s revenue surged to Rs 317 crore in Q3 FY26, up from Rs 242 crore in Q3 FY25, with a 55% profit increase to Rs 24 crore during the same period. ixigo’s shares are currently trading at Rs 165.02, resulting in a market capitalization of approximately $797 million.

    Source: Entrackr : Latest Posts

  • ELMED Life Sciences Secures $2.7 Million in Series A Funding to Advance Microbiome-Based Solutions

    This article was generated by AI and cites original sources.

    Biotech startup ELMED Life Sciences has successfully raised $2.7 million in its Series A funding round, with AgriSURE Fund, managed by NABVENTURES, as the lead investor. This funding will support the company’s efforts to enhance its manufacturing capabilities, boost research and development initiatives, and expand its distribution networks both locally and globally.

    ELMED Life Sciences, founded by Pruthivin Reddy Madduri and co-founded by Nikhil Konkathi, specializes in developing probiotic and biological solutions for the animal health, agriculture, aquaculture, and human health sectors. Their product portfolio aims to enhance productivity and sustainability in poultry, dairy, livestock, aquaculture, and soil health domains through innovative microbiome-based offerings.

    The company’s strategic plan includes scaling up manufacturing operations in Hyderabad, reinforcing market presence in tier 2 and tier 3 regions, and bolstering international outreach to meet the rising demand for antibiotic-free and sustainable solutions globally. Currently exporting to more than 18 countries, ELMED Life Sciences operates on a business-to-business model, serving a diverse range of enterprise clients across various industries.

    Source: Entrackr : Latest Posts

  • Uber Shifts Focus to Corporate Commute Solutions as it Discontinues Shuttle Service in Delhi NCR

    This article was generated by AI and cites original sources.

    Uber has announced the discontinuation of its Shuttle service in Delhi NCR, marking the end of its bus-based commute offering in India. The decision to halt the service comes after low ridership and high operating costs led to similar exits from Mumbai and Hyderabad last year.

    Shuttle, which allowed users to pre-book seats on fixed-route buses for office commutes between New Delhi, Gurugram, and Noida, will cease operations on March 27. Despite its closure, Uber is strategically shifting its focus to Employee Transportation Services (ETS) to meet the growing demand for corporate commute solutions.

    An Uber spokesperson stated, ‘Shuttle helped us build valuable insights in high capacity mobility, which we are now leveraging in the ETS segment. This move aligns with the shift towards a fast-growing corporate commute sector with predictable demand and higher utilization.’

    This shift towards ETS services follows Uber’s recent infusion of nearly Rs 3,000 crore into its Indian subsidiary, reflecting the company’s commitment to adapting to evolving market needs. The consolidation of financial statements for FY25 showed a significant decline in net revenue from ride-hailing, falling from Rs 807 crore in FY24 to Rs 88 crore in FY25.

    Source: Entrackr : Latest Posts

  • Rentomojo Seeks Rs 150 Cr in IPO: Analyzing the Tech Behind the Offering

    This article was generated by AI and cites original sources.

    Furniture and appliance rental platform Rentomojo has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise Rs 150 crore through a fresh issue in its initial public offering (IPO).

    The IPO plan includes a fresh issue of equity shares and an offer for sale (OFS) of existing shareholders’ equity shares. Key players in the OFS include Accel India, Chiratae Ventures, ValueQuest S.C.A.L.E Fund, and Edelweiss Discovery Fund.

    Founder Geetansh Bamania and other major shareholders are also set to participate in the OFS, while the company considers a pre-IPO placement to strengthen its financial position. Axis Capital, Motilal Oswal, and IIFL Capital are managing the IPO process.

    Rentomojo offers a wide range of rental items, including furniture, appliances, and innovative categories like water purifiers, serving a vast subscriber base across multiple cities. The company’s operational and financial growth showcases its positioning in the rental market.

    The IPO aims to utilize the raised funds for strategic purposes, including debt repayment, lease rentals, and general corporate needs, indicating Rentomojo’s intent to enhance its market presence and offerings.

    Source: Entrackr : Latest Posts

  • Cygni Energy Secures Funding for Battery Technology Expansion

    This article was generated by AI and cites original sources.

    Cygni Energy, an energy storage startup, is set to raise Rs 60 crore (approximately $6.4 million) from its existing investor Meridian Global Ventures. This marks the company’s first significant funding round in nearly four years. Cygni Energy plans to issue 4,16,667 compulsorily convertible preference shares at Rs 1,440 per share, with Meridian Global Ventures expected to increase its stake to 49.23% post-allotment.

    The funding will support Cygni Energy’s expansion initiatives, focusing on enhancing its battery energy storage solutions and strengthening its position in the clean energy sector. Founded in 2014, Cygni Energy specializes in developing lithium-ion battery packs and energy storage solutions for electric mobility and renewable energy applications, with a focus on advanced manufacturing capabilities in India.

    Prior to this funding round, Cygni Energy had raised approximately $19 million, including a substantial investment from Meridian Global Ventures and Indian Overseas Bank in 2022. Despite a slight revenue decline projected for FY25 compared to FY24, the company remains committed to advancing its technological offerings and market presence.

    Source: Entrackr : Latest Posts

  • Raise Fintech Ventures Acquires Wealthtech Startup Infinyte Club

    This article was generated by AI and cites original sources.

    Raise Fintech Ventures Private Limited, the parent company of Dhan, a stock broking platform, has acquired Infinyte Club, a wealthtech startup. This marks Raise’s second acquisition in 15 months. Infinyte Club, founded in 2023, offers users access to private market investment opportunities and solutions for ESOP liquidity challenges for early employees.

    The acquisition, a 100% buyout, will see Ankita Tandon, co-founder of Infinyte Club, lead Raise Financial’s wealth management arm. Tandon, with a background in Unacademy, Zivame, and CouponDunia, brings a wealth of experience to this role.

    With funding exceeding $3.6 million from investors like Elevation Capital and notable angels, Infinyte Club is valued at $13–15 million in this pending deal. This move follows Dhan’s unicorn status attainment last year after a substantial Series B round.

    Raise’s acquisition strategy, including previous purchases like Filter Coffee, aligns with its goal to diversify its offerings and enhance its foothold in private markets and ESOP liquidity solutions. This strategic move positions Raise Financial to cater more comprehensively to startup employees and high-growth company stakeholders in the evolving fintech landscape.

    Source: Entrackr : Latest Posts

  • UPI Hits New Heights with 22.6 Billion Transactions in March 2026

    This article was generated by AI and cites original sources.

    The Unified Payments Interface (UPI) reached a significant milestone in March 2026, processing a record-breaking 22.64 billion transactions. This marked a notable increase from February’s 20.39 billion transactions, representing the highest monthly figure recorded by UPI since its inception in 2016, surpassing the previous high of 21.70 billion transactions in January.

    The surge in transaction volume also saw a 24% year-on-year growth, indicating the growing adoption and reliance on digital payment solutions. In terms of transaction value, March witnessed a rise to Rs 29.53 lakh crore, compared to Rs 26.84 lakh crore in February, signaling the significant financial impact of UPI transactions.

    Despite a marginal increase in the average daily transaction count to 730 million in March and a slight decline in the average daily transaction value, the overall trend showcases the continued dominance of digital payments in the Indian market.

    PhonePe maintained its lead in the UPI app market in February, commanding a substantial 45.5% share by volume, followed by Google Pay with around 33% market share and Paytm at approximately 7–8%.

    Source: Entrackr : Latest Posts

  • Rediff.com Pursues Confidential IPO to Expand AI and Digital Payments

    This article was generated by AI and cites original sources.

    Rediff.com India Limited, a legacy internet firm, has filed confidential draft papers for an initial public offering (IPO) to raise funds, targeting between Rs 600 crore and Rs 800 crore, as reported by Entrackr : Latest Posts. This approach allows the company to postpone the disclosure of critical details like financial information and valuation until a later stage, offering flexibility in the timing of its public listing.

    Undergoing a transformation under AvenuesAI, which acquired it in 2024, Rediff.com is shifting away from its traditional internet portal model to focus on building an AI-driven platform. The IPO proceeds are anticipated to be directed towards enhancing its AI capabilities, product development, and expanding its presence in the digital payments space. The company is gearing up to launch RediffPay, supported by a UPI license from the National Payments Corporation of India.

    Established in 1996, Rediff was one of India’s earliest internet players, providing email, news, and online services. It initially listed on NASDAQ in 2000, eventually getting delisted in 2016.

    The confidential filing approach has become popular among modern companies, with various firms like Prism (OYO), Zetwerk, PhonePe, and others exploring or utilizing this method for fundraising.

    Source: Entrackr : Latest Posts

  • Globalbees Expands Presence in Electronics Sector with Increased Stake in Candes Technology

    This article was generated by AI and cites original sources.

    Brainbees Solutions, the parent company of FirstCry, a prominent mother-and-baby care retailer, announced that its subsidiary Globalbees Brands has increased its ownership in Candes Technology, a home appliances firm focusing on affordable consumer electronics.

    The acquisition, finalized through a cash transaction at Rs 37,250 per share, involved Globalbees acquiring an additional 30% stake from existing shareholders, raising its stake in Candes from 62% to 92%.

    Candes Technology, established in January 2021, specializes in manufacturing and selling smart electrical products like fans, geysers, heaters, and kitchen appliances under the ‘Candes’ brand.

    This strategic move significantly bolsters Globalbees’ presence in the electronics sector.

    Brainbees Solutions reported a 12% year-on-year revenue increase for the quarter ending in December 2025, despite a notable 2.5-fold surge in losses.

    FirstCry, a subsidiary of Brainbees Solutions, observed a revenue increase from operations to Rs 2,424 crore in Q3 FY26 from Rs 2,172 crore in Q3 FY25, as per unaudited financials filed with the National Stock Exchange.

    The procurement costs accounted for 64% of total expenses, climbing by 15% to Rs 1,580 crore from Rs 1,369 crore in the previous year. Employee benefits totaled Rs 197 crore in Q3 FY26, incorporating Rs 57 crore in ESOP expenses.

    Losses widened to Rs 38 crore in Q3 FY26 from Rs 15 crore in Q3 FY25, with cumulative losses for the nine months till December 2025 remaining relatively stable at Rs 154 crore versus Rs 153 crore in the corresponding period last year.

    Source: Entrackr : Latest Posts