Tag: Entrackr : Latest Posts

Dream Sports, the parent company of Dream11, is expanding its offerings by venturing into the stockbroking sector with the introduction of a new platform called Dream Street. This strategic move aims to diversify the company’s portfolio beyond gaming and position it to compete with established players like Groww and Zerodha.

The launch of Dream Street follows Dream Sports’ recent foray into financial services with Dream Money, a wealth management platform introduced in August 2025. By leveraging its extensive user base cultivated through its fantasy sports ecosystem, Dream Street is expected to cater to retail investors.

According to Moneycontrol, the first to report this development, Dream Sports has obtained all necessary licenses and is currently in the testing phase, anticipating a public release in the near future. Rahul Mirchandani, the chief product officer at Dream Sports, is set to lead the brokerage arm as its CEO.

This initiative comes as Dream Sports undergoes a restructuring effort prompted by regulatory changes that impacted its core real money gaming business. Following a ban on real money gaming in August 2025, which led to revenue disruptions, the company has shifted its focus towards investment and wealth products.

In financial terms, Dream11 experienced a 15% year-on-year decline in revenue, dropping to Rs 6,759 crore in FY25 from Rs 7,934 crore in FY24. This decline occurred before the ban on real money gaming, resulting in a Rs 479 crore loss in FY25 compared to a Rs 1,295 crore profit in FY24, attributed to a one-time tax expense and director benefits.

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Commercial vehicle platform 91trucks has acquired Motorfloor and Trucksfloor, two mobility-focused platforms operated by Bhubaneswar-based Indiyanet. This acquisition aims to strengthen the digital commercial vehicles ecosystem.

Subrat Kar, the founder of Indiyanet, expressed enthusiasm about the partnership, stating, “With this next phase, we are excited to partner with 91trucks to scale our vision further. Trucksfloor and Motorfloor are now part of 91trucks.” This collaboration is expected to enhance the overall experience for both buyers and sellers of commercial vehicles, as it allows the companies to leverage their strengths, expand their reach, and create a more robust platform for India’s commercial vehicle ecosystem.

Founded in 2022, Gurugram-based 91trucks provides comprehensive information, reviews, and listings for trucks, buses, and three-wheelers. Additionally, the company offers dealer connections and financing support, aiming to build a full-stack platform covering various services from discovery to ownership for commercial vehicles.

In a Series A funding round in May 2025, 91trucks secured around $5 million, with leading investments from Arkam Ventures, Titan Capital, Sparrow Capital, and Atrium Angels, valuing the company at approximately $33 million.

Indiyanet, founded in 2024 by Subrat Kar, operates Motorfloor and Trucksfloor, platforms that assist users in exploring and evaluating commercial vehicles based on specifications, features, images, and on-road prices. The company claims a strong market presence, ranking among the top three platforms in India by traffic and volume within its category.

Prior to Indiyanet, Subrat Kar’s entrepreneurial journey included founding Vidooly, a video analytics startup acquired by Good Glamm Group in 2022. Vidooly had previously received funding from notable investors such as Alibaba, Times Internet, Bessemer Venture Partners, and Gujarat Venture Finance.

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Fintech startup Kiwi has strategically appointed Sumeet Basrani as Chief Business Officer to bolster its leadership team. This move signifies Kiwi’s focus on broadening the distribution of credit on UPI through strategic bank and ecosystem collaborations.

Sumeet Basrani brings over 15 years of experience in the cards and payments sector, having previously held key roles at organizations like CRED, OneCard, ICICI Bank, and Visa. His contributions at CRED involved spearheading partnerships in credit cards, payments, and lending with various financial institutions.

Kiwi’s upcoming phase is dedicated to facilitating credit access on UPI for a vast number of Indian users. The company’s strategic roadmap focuses on scaling up market presence while adapting to evolving consumer preferences.

Sumeet Basrani emphasized the current momentum in early adoption of credit on UPI and the potential of seamlessly integrating credit into daily transactions to enhance accessibility.

Founded in 2022 by Siddharth Mehta, Mohit Bedi, and Anup Agrawal, Kiwi offers users the convenience of accessing RuPay credit cards on UPI, blending credit flexibility with UPI’s extensive merchant network.

In a notable development, Kiwi secured $24 million in its Series B funding round from Vertex Ventures last year, reaching a valuation exceeding $100 million.

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Canvaloop, a biomaterials startup, has secured $1.5 million in funding from Gujarat Venture Finance Limited (GVFL) and Rockstud Capital. The company, founded in 2020 by Shreyans Kokra, specializes in transforming agricultural waste like pineapple, banana, and hemp into eco-friendly textile-grade fibers using a unique closed-loop technology. This proprietary process minimizes water and chemical usage, making it a sustainable solution for the textile industry.

The investment will enable Canvaloop to expand its production capacity, enhance supply chain efficiency, shorten delivery times, and further develop its alternative fiber platform. The Surat-based startup’s focus on natural feedstocks such as hemp, flax, and crop residues highlights its commitment to creating scalable and environmentally friendly material alternatives.

With plans to invest in next-generation material innovation, including regenerative fibers, Canvaloop aims to drive the textile industry towards more sustainable and resilient value chains. By leveraging innovative technologies, the company is positioned to contribute to the sector’s transition towards eco-conscious textile production.

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Hyderabad-based space technology startup, Skyroot Aerospace, has successfully raised Rs 100 crore (approximately $10.75 million) in a recent debt round from BlackRock. This marks the company’s first debt investment for the year 2026.

Skyroot Aerospace’s board has issued 100 non-convertible debentures (NCDs) at a face value of Rs 1 crore each, as detailed in its filing with the Registrar of Companies (RoC). The infusion of funds will be used for various purposes, including issue-related expenses, working capital needs, operational costs, asset acquisitions, and general corporate utilization.

Founded in 2018 by former ISRO scientists Pawan Kumar Chandana and Naga Bharath Daka, Skyroot Aerospace specializes in developing small and medium-lift launch vehicles for the global satellite market. The company’s pipeline includes the Vikram series of rockets, such as Vikram-I and Vikram-II, designed to provide on-demand, cost-efficient, and flexible satellite launch services.

In a significant milestone, Skyroot Aerospace became the first private Indian company to successfully launch a rocket into space with its Vikram-S mission in 2022.

The company’s growth trajectory was further bolstered in October 2023 when it secured Rs 225 crore (approximately $27 million) in a pre-Series C funding round led by Temasek. Skyroot Aerospace is currently engaged in discussions to raise $150–200 million (about Rs 1,800 crore) to fuel its upcoming expansion phase, potentially valuing the firm at around $1 billion.

Despite being in the pre-revenue stage as of the end of FY25, Skyroot Aerospace recorded widened losses of Rs 99.70 crore during the year, attributed to ongoing investments in research and development initiatives.

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Cashify, an omnichannel recommerce platform, has taken a significant step towards its initial public offering (IPO) by appointing ICICI Securities, JM Financial, and Nomura as its bankers. The company, headquartered in Gurugram, aims to raise between Rs 1,500 crore to Rs 1,800 crore through the IPO, with the final structure yet to be determined.

Early investors like Bessemer Venture Partners, Olympus Capital Asia, and Blume Ventures are anticipated to sell part of their holdings during the IPO. Cashify, founded in 2013, specializes in facilitating the buying and selling of used electronics, focusing primarily on phones and laptops. It collaborates with major original equipment manufacturers like Xiaomi, OnePlus, and Samsung for exchange programs and partners with e-commerce giants Amazon and Flipkart to simplify the trade of refurbished devices.

The company is likely to follow the confidential filing path for its draft red herring prospectus, with plans to submit IPO papers in mid-2026, targeting a listing in early 2027. Cashify’s operational revenue for FY25 surged to Rs 1,096 crore from Rs 935.07 crore in FY24, leading to a substantial 80% reduction in losses to Rs 10.5 crore from Rs 53 crore in the previous year.

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Pediatric wellness startup RN Kids has secured approximately $760,000 in a pre-seed funding round. The funding saw participation from notable investors like Ashish Kacholia, Lashit Sanghvi, and several angel investors. Founded in September 2025 by Rushabh Nandu and Nihar Parekh, RN Kids is dedicated to creating clean label, clinically supported formulations catering to children’s everyday health requirements.

Identifying a gap in managing common pediatric health concerns such as growth, immunity, gut health, and respiratory issues, the founders aim to develop clean formulations with innovative delivery methods to meet the demands of informed parents seeking effective and convenient solutions for their children.

The startup plans to launch six signature products by the end of July through various online platforms like Amazon, Flipkart, and its direct-to-consumer website. Future plans include expanding into quick commerce and offline retail channels to reach a wider audience.

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Attero, an e-waste recycling company, saw a significant increase in revenue during the fiscal year ending March 2025. The company’s revenue spiked over 2.2 times to Rs 961 crore from Rs 446 crore in the previous fiscal year. Attero specializes in environmental sustainability, employing patented technology for recycling e-waste and extracting precious metals from electronic devices and lithium-ion batteries.

The majority of Attero’s revenue, 85.5%, came from the sale of recycled metals and battery-grade materials. The company also offers services like e-waste recycling, lithium-ion battery processing, and waste management solutions to diversify its income streams.

While the revenue soared, the company’s expenses also increased substantially. Material costs, which accounted for 89% of total expenses, rose 2.3 times to Rs 834 crore. Employee benefit expenses and other operational costs also saw significant increments.

Despite the revenue growth, Attero’s profits remained stable at Rs 14.6 crore in FY25. The company maintained a healthy ROCE of 20.61% and an EBITDA margin of 3.22%. Attero’s financials reflect a strong focus on sustainability and profitability within the e-waste recycling sector.

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Metafin, a solar financing platform focused on rural micro, small, and medium enterprises (MSMEs) and households, has secured a $10 million structured debt facility from Lendable. This funding will enable the expansion of solar energy financing solutions in underserved rural areas of India, helping small businesses and households transition from diesel-based systems.

The debt facility, provided through Lendable’s Transportation and Energy Fund, will specifically target productive-use solar systems for MSMEs and enterprises in rural and remote regions.

Co-founded by Sandeep Chopra and Aditya Shah, Metafin integrates a solar financing model with a network of over 1,000 local installers and a servicing arm for deployment and maintenance.

Metafin has a track record of financing more than 6,500 solar projects in over 4,000 villages across five states, resulting in the reduction of over 30 million kilograms of CO₂ emissions and the displacement of approximately 11 million liters of diesel.

Metafin is supported by investors such as Vertex Ventures SEAI, Prime Venture Partners, and Varanium Capital, and collaborates with financial institutions like SBI, Northern Arc, and AU Small Finance Bank.

Source: Entrackr : Latest Posts