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Tag: Inc42 Media

  • Yatra Promoter Offloads Shares Worth ₹45 Crore in Bulk Deal: Implications for Tech Industry

    This article was generated by AI and cites original sources.

    Yatra, a prominent player in the travel industry, recently witnessed a significant development as its promoter entity, THCL Travel Holding Cyprus Ltd, offloaded 28.33 lakh shares in a bulk deal, amounting to ₹45 crore. This transaction, following Yatra’s financial performance disclosure for the December 2025 quarter, has sparked interest in the implications for the tech-driven travel industry.

    THCL, a subsidiary of Yatra functioning as a holding vehicle, managed to raise ₹44.8 crore from the share sale. The promoter entity, which previously held a 57.4% stake in Yatra, saw its shareholding drop to 8.72 crore shares post the deal.

    Yatra’s financials for Q3 FY26 revealed a 17% year-over-year decline in net profit to ₹10 crore, partly attributed to a one-time statutory charge due to new labor codes implementation. Despite this, the company reported a 124% year-over-year increase in EBITDA to ₹72.9 crore, while operating revenue rose by 9% year-over-year.

    Understanding the impact of such share transactions on a tech-driven industry like travel is crucial for industry observers. These financial maneuvers can influence a company’s trajectory and market positioning, prompting a closer look at the intersection of technology and corporate strategies.

    Source: Inc42 Media

  • Zoomcar’s Resilient Q3 Performance: Navigating Challenges with Tech-Driven Strategies

    This article was generated by AI and cites original sources.

    Nasdaq-listed rental car platform Zoomcar showcased remarkable financial resilience in its recent Q3 performance, cutting its net loss by 91% year over year to $721K. The significant reduction in losses was primarily attributed to a one-time gain of $1.23 Mn, stemming from a write-back of contractor-related liabilities. This gain, resulting from a reassessment triggered by a new labor code introduction and GST receivables recovery, helped offset a loss from a litigation settlement.

    Despite a 3% decline in operating revenue to $2.37 Mn, Zoomcar managed to reduce total costs and expenses by 33% to $3.84 Mn during the quarter. This financial discipline contributed to the company’s improved bottom line performance.

    However, challenges loom as Zoomcar’s management expressed concerns about its ability to sustain operations beyond March 31, 2026, given sustained operating losses, negative cash flows, and limited liquidity. The company has defaulted on debt obligations totaling $1.01 Mn, further complicating its financial outlook.

    Zoomcar’s strategic focus on optimizing costs and enhancing operational efficiency underscores the critical role of financial prudence in navigating market uncertainties. The company’s ability to leverage technology and data-driven insights to drive financial performance highlights the importance of tech-driven strategies in the competitive rental car industry.

    Source: Inc42 Media

  • BYJU’S Challenges NCLAT Approval for Aakash’s ₹240 Cr Rights Issue

    This article was generated by AI and cites original sources.

    BYJU’S parent company, Think & Learn Pvt Ltd, has contested the National Company Law Appellate Tribunal’s (NCLAT) approval of Aakash Educational Services Limited’s (AESL) ₹240 Cr rights issue. The NCLAT’s decision allows Aakash to proceed with the second tranche of its fundraising, despite objections from BYJU’S. AESL shareholders had previously approved a plan to raise ₹240 Cr through a rights issue, with ₹100 Cr in the first tranche and ₹140 Cr in the subsequent tranche. This move could potentially reduce BYJU’S stake in Aakash from 26% to less than 5%, affecting the control BYJU’S acquired in AESL back in 2021 for nearly $950 Mn-$1 Bn.

    Ranjan Pai’s family office, a major stakeholder in AESL, was also set to invest an additional ₹250 Cr in the coaching chain through the rights issue. Despite attempts by BYJU’S and Glas Trust to halt the rights issue, the resolution professional of BYJU’S parent company contested Aakash’s capital raise in multiple legal venues, including the NCLT, NCLAT, and the Supreme Court. TLPL even deposited INR 25 Cr to subscribe to the shares under the rights issue, indicating a complex legal and financial battle unfolding in the education sector.

    Source: Inc42 Media

  • MeitY and IVCA Secure ₹500 Cr in VC Commitments to Boost Indian AI Startups

    This article was generated by AI and cites original sources.

    The Ministry of Electronics and Information Technology (MeitY) and the Indian Venture and Alternate Capital Association (IVCA) have joined forces to secure ₹500 Cr in venture capital commitments for Indian AI startups. This initiative was announced at the ‘India AI Impact Summit 2026’ in New Delhi, where 31 AI-focused startups presented their innovations to potential investors.

    IT minister Ashwini Vaishnaw highlighted an upcoming investment of about $200 Bn in the Indian AI ecosystem over the next two years, underscoring the growing interest and confidence in AI technologies.

    Members of IVCA, including prominent names like Accel, Chiratae Ventures, and Prosus, collectively pledged their support to nurture high-potential AI startups. The focus of these investments is on deploying AI solutions across enterprise and public-impact sectors, indicating a strategic push towards leveraging AI for societal benefits.

    Simultaneously, Peak XV, a venture capital firm, announced its backing of five early-stage AI startups that excelled at the PitchFest. These startups, including Companion Labs, Kello, and Memfold AI, are innovating in diverse areas such as vernacular AI-led entertainment, career intelligence platforms, and decision-making automation.

    This collaborative effort between government bodies, venture capital associations, and private investors underscores the concerted push to propel India’s AI startup ecosystem forward, fostering innovation and technological advancement.

    Source: Inc42 Media

  • Fyllo’s AI-Powered Platform Enhances Farming Decisions with IoT and Weather Forecasts

    This article was generated by AI and cites original sources.

    Indian agritech startup Fyllo is transforming farming practices by leveraging advanced technology to enhance decision-making for farmers. Co-founders Sudhanshu Rai and Sumit Sheoran established Fyllo as an AI-powered climate risk intelligence platform designed to assist farmers throughout the crop cycle.

    By deploying IoT devices equipped with soil sensors and collecting localized data, Fyllo enables farmers to make informed choices on irrigation and fertilization timing. The platform integrates this data with short-range weather models to provide actionable guidance, reducing water usage, cutting fertilizer expenses, and ultimately enhancing crop yields.

    Fyllo’s community-based deployment approach and focus on aggregated data models have already made a significant impact, with over 13,000 farmers benefiting from the technology across 22 crops. The company’s hardware-plus-subscription model ensures continuous support and valuable insights for farmers, contributing to sustainable farming practices and improved financial returns.

    Source: Inc42 Media

  • Equirus Group Raises ₹166 Cr for Early-Stage Tech Startup Fund

    This article was generated by AI and cites original sources.

    Financial services company Equirus Group has successfully concluded its first early-stage venture capital (VC) fund, Equirus InnovateX Fund, raising ₹166 Cr ($18.3 Mn). Launched in January 2024 with a target of ₹207 Cr ($25 Mn), the fund aims to support up to 15 startups across sectors like SaaS, deeptech, and fintech, with a focus on B2B ventures.

    Equirus has already invested in seven startups, including Pointo, Datazip, and Consuma AI, and plans to deploy the remaining capital over the next 12-18 months to fuel further innovation and growth in the tech startup ecosystem.

    The fund’s limited partners (LPs) include industry figures like Xoriant founder Girish Gaitonde and Jyothy Labs chairperson M R Jyothy, indicating strong support for emerging tech ventures.

    This milestone for Equirus Group comes as the industry sees increased investments in deeptech startups, reflecting a broader shift towards supporting cutting-edge technology innovations.

    Source: Inc42 Media

  • India Poised for AI Dominance: $200 Billion in Investments Expected

    This article was generated by AI and cites original sources.

    India is positioning itself as a major player in the artificial intelligence (AI) space, with expectations to attract over $200 billion in investments over the next two years.

    During the recent India AI Impact Summit 2026, IT Minister Ashwini Vaishnaw announced the government’s plans to order 20,000 GPUs to bolster the country’s AI infrastructure. This move aims to enhance compute capacity within India, supporting the growth of startups, researchers, and enterprises focused on AI models and applications.

    Vaishnaw highlighted the growing global recognition of India’s technology capabilities and digital infrastructure, emphasizing the importance of innovation in engineering alongside mathematical breakthroughs for driving the next wave of advanced AI models. Notably, AI infrastructure startup Neysa secured $1.2 billion in funding, marking a significant milestone for the Indian startup ecosystem.

    Furthermore, the minister disclosed that global chipmaker Nvidia is set to invest substantial capital in Indian startups, underscoring the collaborative efforts between the US-based company and Indian software startups.

    The ongoing AI summit in New Delhi has become a focal point for discussions on AI advancements, with India positioning itself as a key destination for AI investments and innovation.

    Source: Inc42 Media

  • Sarvam AI Unveils ‘Kaze’: An AI-Powered Wearable Device

    This article was generated by AI and cites original sources.

    Sarvam AI, a leader in AI advancements, has expanded its portfolio with the launch of ‘Sarvam Kaze,’ a wearable device infused with artificial intelligence. The company’s founder, Pratyush Kumar, announced the device on social media, highlighting the transition of their AI models from screens to hands-on devices.

    Notably, Prime Minister Narendra Modi was among the first to experience the capabilities of Kaze. This innovative wearable is equipped to listen, understand, respond, and even capture user perspectives, representing a step towards seamlessly integrating AI into real-world interactions.

    Kumar emphasized the potential for developers to create tailored experiences for Kaze through the Sarvam platform, hinting at a forthcoming app ecosystem surrounding the device. By merging foundational models with bespoke hardware, Sarvam joins a select group of AI startups globally exploring this convergence.

    The foray into hardware signifies a strategic move for Sarvam, which was previously focused on language models, indicating a broader market approach. While the development of devices poses challenges compared to software APIs, this leap underscores Sarvam’s commitment to advancing AI innovation.

    Source: Inc42 Media

  • Neysa Secures $1.2 Billion Funding for AI Cloud Infrastructure Expansion

    This article was generated by AI and cites original sources.

    Indian AI cloud infrastructure startup Neysa has secured a $1.2 billion funding deal with US-based Blackstone, marking a significant milestone in the tech industry. The funding, which includes $600 million from Blackstone and additional debt financing, propels Neysa’s enterprise valuation to $1.4 billion. This is expected to be the largest funding round for an AI-native startup in India, underscoring the growing importance of AI in the tech ecosystem.

    Neysa’s strategic plan involves deploying 20,000 GPUs across India to bolster its cloud infrastructure network, catering to the increasing demand for AI solutions in various sectors such as finance, healthcare, and technology startups. The startup’s focus on GPU-led cloud and AI infrastructure solutions positions it as a key player in enabling companies to efficiently handle AI workloads.

    Co-founded in 2023 by Sharad Sanghi and Anindya Das, Neysa has attracted substantial funding in previous rounds, including investments from Nexus Venture Partners and NTT Venture Capital. This recent funding round not only signifies investor confidence in Neysa’s vision but also highlights the critical need for advanced AI infrastructure to support India’s ambitions in the AI space.

    Source: Inc42 Media

  • C2i Semiconductors Secures $15 Million in Series A Funding for AI Computing Power Solutions

    This article was generated by AI and cites original sources.

    Semiconductor startup C2i Semiconductors has successfully raised $15 million in its Series A funding round, with Peak XV Partners leading the investment along with TDK Ventures and existing backer Yali Capital. The Bengaluru-based company, founded in 2024 by Vikram Gakhar, Preetam Charan Anand Tadeparthy, and Ramprasad Ananthaswamy, aims to advance the development of high-density and highly reliable power delivery solutions tailored for AI computing.

    C2i Semiconductors plans to utilize the newly acquired capital to enhance its offerings for the next generation of AI data centers and cloud infrastructure. By focusing on power management solutions, the company addresses the critical challenge of power delivery in modern data centers, particularly with the growing scale and density of AI workloads. C2i’s approach emphasizes configurable, platform-based power architectures that cover the entire spectrum from grid to core, enabling increased power density, streamlined system design, faster deployment, and meeting the stringent reliability standards of large-scale AI infrastructure.

    Previously, the company received a $4 million investment from Yali Capital in November 2024, further bolstering its financial position and technological advancements. This funding round underscores the increasing significance of semiconductor startups in the tech ecosystem and their role in shaping the future of AI computing solutions.

    Source: Inc42 Media