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Tag: Inc42 Media

  • DevX Secures ₹35 Cr Investment from Infibeam Projects to Fuel Coworking Expansion

    This article was generated by AI and cites original sources.

    DevX, a coworking space provider, has secured a ₹35 Cr investment from Infibeam Projects Management and its cofounders. The company’s board has approved issuing warrants to the promoters for this investment. Additionally, up to 44.44 Lakh equity shares will be offered to Infibeam Projects Management, solidifying their stake in DevX.

    This strategic move aims to strengthen DevX’s financial position and support its growth trajectory in the coworking space industry. By securing investments from key stakeholders, DevX positions itself for further expansion and innovation in its service offerings.

    Furthermore, the recent restructuring of preference shares and equity stake transfers within the company indicates a focused approach towards optimizing resources and enhancing internal operations for sustained development.

    The collaboration between DevX and Infibeam Projects Management underscores a strategic partnership that leverages financial backing to drive technological advancements and operational efficiency within the coworking segment.

    Source: Inc42 Media

  • AquaExchange: Transforming India’s Shrimp Farming with Data-Driven Solutions

    This article was generated by AI and cites original sources.

    AquaExchange, an agritech startup, is revolutionizing India’s shrimp farming industry by introducing a comprehensive technology platform to address critical gaps in the sector. Founded by a group of professionals returning to India, the startup recently secured $8 million in Series B funding, highlighting the industry’s growing interest in tech-driven solutions.

    Recognizing the lack of formal finance, insurance, and reliable data in the ₹35,000 Cr shrimp export industry of Andhra Pradesh, AquaExchange developed a full-stack platform integrating IoT devices, AI models, financing options, insurance services, and market connections. By leveraging data infrastructure directly on farms, the startup aims to transform aquaculture practices not only for shrimp but also for other animal-protein sectors.

    With a presence on over 71,000 acres of farms and engagement with nearly 6,000 farmers, AquaExchange is reshaping the traditional shrimp farming landscape. The startup’s mission to bring transparency and efficiency to the ecosystem is crucial, considering India’s significant shrimp export volumes and the lack of basic visibility in the sector.

    According to co-founder Pavan Kosaraju, the journey from consultants to shrimp farming technology experts has been marked by a commitment to bridging industry gaps and enhancing operational insights. By providing real-time data and insights, AquaExchange is empowering farmers and stakeholders to make informed decisions, ultimately driving growth and sustainability in India’s aquaculture sector.

    Source: Inc42 Media

  • Delhi Unveils ₹200 Cr Plan to Boost Electric Vehicles, Incentivize Scrappage

    This article was generated by AI and cites original sources.

    The Delhi government has introduced a revamped Electric Vehicle (EV) Policy, shifting towards a scrappage-linked incentive model to accelerate the adoption of electric vehicles in the national capital. With an allocation of ₹200 Cr in the Delhi Budget 2026-27, the revised policy aims to expedite the retirement of high-emission vehicles while promoting EV usage.

    Under this new framework, substantial incentives will be provided to buyers who scrap older vehicles, particularly Delhi-registered BS-IV or older petrol/diesel vehicles. The policy offers incentives such as up to ₹1 Lakh for private electric cars below ₹15 Lakh, a flat ₹10,000 subsidy for electric two-wheelers, and a ₹25,000 incentive for electric three-wheelers. Moreover, the government is encouraging the retrofitting of existing internal combustion engine (ICE) vehicles.

    The government’s goal is to propel Delhi towards a pollution-free future and position it as a model capital for the nation. By incentivizing the transition to electric vehicles and promoting eco-friendly practices, Delhi aims to set a positive example for other regions to follow.

    Source: Inc42 Media

  • TraceX Builds Data Infrastructure for Transparent Supply Chains in Agro-Processing

    This article was generated by AI and cites original sources.

    TraceX Technologies, a Bengaluru-based startup founded in 2019, is developing a platform to enhance supply chain transparency in the agro-processing sector. With a client base of over 30 enterprises, spanning 2.3 lakh farmers and a significant domestic market share, TraceX aims to establish itself as a foundational infrastructure for verifiable supply chains.

    The company’s technology enables businesses to seamlessly capture, verify, and utilize critical supply chain data. This includes ensuring traceability, compliance, and sustainability across the entire production and distribution process of food products.

    In an era where food safety is paramount, TraceX’s platform plays a crucial role in addressing challenges in the industry. The startup’s focus on end-to-end visibility, global compliance standards, and environmental impact management sets a new benchmark for the sector.

    According to reports, unsafe food consumption claims hundreds of thousands of lives annually worldwide. TraceX’s approach not only enhances consumer safety but also contributes to mitigating the adverse effects of foodborne illnesses.

    With India ranking low on the Global Hunger Index and facing significant food safety concerns, TraceX’s technological intervention is timely and impactful. The startup’s efforts align with the growing demand for enhanced food traceability, projected to drive a $1.7 billion market in India by 2030.

    Source: Inc42 Media

  • Swiggy Raises Platform Fee Amid Evolving Food Delivery Landscape

    This article was generated by AI and cites original sources.

    Swiggy, a prominent player in the food delivery tech sector, has announced a strategic increase in its platform fee, following a similar move by its competitor Zomato. The fee has been raised from ₹14.99 to ₹17.58 per order, marking a significant uptick of over 17%.

    This decision by Swiggy is part of the company’s ongoing efforts to adapt to market dynamics and enhance its operational sustainability. The platform fee, a fixed charge applied to each food delivery order, is in addition to delivery fees, taxes, and restaurant expenses. Both Swiggy and Zomato have been gradually increasing this fee since its introduction at ₹2 per order back in 2023.

    Swiggy had previously raised the platform fee to ₹14 from ₹12 last year in specific regions due to heightened demand, before later applying this change more broadly. Subsequently, the fee was further increased to ₹14.99 in early September.

    This latest move by Swiggy is anticipated to aid the company in bolstering its profit margins, especially amid substantial investments in expanding its quick commerce verticals.

    Source: Inc42 Media

  • Uber Targets India’s Corporate Commute Market with Tech-Driven Solutions

    This article was generated by AI and cites original sources.

    Uber, known for its consumer-centric approach, is now expanding into India’s lucrative corporate transportation sector. With the rise of Global Capability Centres (GCCs) in the country, Uber is leveraging its driver network and advanced technology to address the challenges faced by traditional company buses and local fleets in managing round-the-clock shifts.

    The GCC Opportunity: India’s GCC ecosystem is projected to reach $100 billion and employ 2.8 million individuals by 2030. This growth has exposed the need for more reliable, safe, and cost-efficient employee transportation solutions, as Indian enterprises prioritize these factors in their commuting services.

    The Algorithmic Advantage: Uber’s routing algorithms optimize routes for maximum efficiency, leading to reduced trips and lower costs per passenger. Additionally, Uber is incorporating familiar B2C features like live tracking and emergency buttons to meet the stringent safety requirements of corporate clients.

    The Flexible Fleet: Uber’s foray into Employee Transportation Services (ETS) capitalizes on its extensive fleet network and a flexible supply chain model. By integrating its vast B2C fleet with strategic B2B partners, Uber ensures continuous driver availability to cater to corporate peak hours and retail ride-hailing during slower periods, maximizing vehicle utilization and earnings.

    Currently operational in six major metros housing 92% of India’s GCCs, Uber’s ETS vertical is poised to be a significant growth driver for the company in the coming years. As the corporate commuting landscape evolves, Uber’s tech-driven solutions signal a shift in the industry.

    Source: Inc42 Media

  • OZi Raises $6.2 Million to Expand Baby Care Quick Commerce Platform

    This article was generated by AI and cites original sources.

    OZi, a Delhi NCR-based startup, has secured $6.2 million in its Series A funding round to further develop its baby care quick commerce platform. The investment, led by RTP Global, aims to bolster OZi’s presence in Gurugram and other parts of Delhi NCR while enhancing its technological and operational capabilities.

    Founded in 2025, OZi specializes in providing a wide range of baby products, from apparel to pharmacy items, with a promise of delivery in under 60 minutes. This recent funding follows a $3.3 million seed round secured just five months ago, demonstrating significant investor confidence in the platform.

    With plans to expand its product assortment and optimize operational efficiency, OZi emphasizes the importance of delivering convenience to young parents consistently. CEO Amit Sah expressed gratitude for the support received from investors who share the vision of enhancing parental convenience through the platform.

    RTP Global principal Madhur Makkar highlighted the focus on leadership, systems, and capabilities as key drivers for OZi’s future scalability. The partnership between OZi and investors reflects a shared commitment to revolutionizing the quick commerce segment within the baby care industry.

    Source: Inc42 Media

  • Indian Startups Secure $228 Million in Funding, Driving Tech Innovation

    This article was generated by AI and cites original sources.

    The Indian startup ecosystem has witnessed a surge in funding activities, with a total of $228 million raised this week. The fintech sector has taken the lead, with significant investments in companies like Neo Group and Ecofy. Neo Group secured $53.4 million, while Ecofy raised $42 million, reflecting the growing confidence in fintech innovations.

    Seed funding also saw a notable increase, rising by 12% to reach $12.9 million compared to the previous week’s $11.5 million. This rise in early-stage funding indicates a positive outlook for emerging startups looking to establish themselves in the market.

    Among the key investors in this funding spree, Peak XV Partners emerged as a prominent supporter, backing startups like Atlys, BambooBox, and Grapevine. This strategic investment not only provides financial resources but also signifies a validation of these startups’ potential for growth and technological advancement.

    The consistent funding momentum signals a vibrant tech ecosystem in India, where startups are driving innovation across various sectors. The infusion of capital into these ventures not only fuels their expansion but also underlines the confidence investors have in the technological prowess and solutions offered by Indian startups.

    Source: Inc42 Media

  • Groww’s Promoter Group Entities Pledge Shares: Implications for Tech Investors

    This article was generated by AI and cites original sources.

    Groww, the popular investment platform, saw its promoter group entities – Mufasa, Thousand Oaks Trust, and Fortune First Trust – pledge a total of 1.9 crore shares to Aditya Birla Capital for personal reasons. The total value of these pledges, based on the stock’s closing price, amounts to approximately ₹302 crores.

    This move, executed on March 13, 2026, signifies a strategic financial decision involving key stakeholders. The involvement of Aditya Birla Capital Limited as the lender adds a significant dimension to this transaction, reflecting the complex dynamics of the financial industry.

    Although Groww has not released an official statement regarding these pledges, the actions of its promoter group entities raise questions about the company’s future financial strategies and potential implications for investors. As Groww continues to expand its asset management services, this development may signal a shift towards a more diversified business model beyond its initial focus on broking services. The recent sale of a stake in its asset management arm to State Street Investment Management further emphasizes Groww’s strategic positioning in the evolving landscape of fintech and investment platforms.

    For tech enthusiasts and investors, the pledge of shares by Groww’s promoter group entities underscores the intricate financial mechanisms at play within the technology and finance sectors. Understanding the implications of such transactions is crucial for assessing the long-term viability and growth trajectory of tech-centric companies like Groww.

    Source: Inc42 Media

  • Telangana High Court Dismisses Fino Payments Bank CEO’s Bail Plea – Implications for Tech Compliance

    This article was generated by AI and cites original sources.

    The Telangana High Court has dismissed the writ petition filed by Rishi Gupta, the CEO of Fino Payments Bank, challenging his arrest in an alleged tax evasion case. This legal development underscores the importance of compliance and governance practices within the tech sector.

    The case, known as Rishi Nand Kishore Gupta v Union Of India, emerged from an investigation by the Directorate General of GST Intelligence (DGGI). In response to the court’s decision, Fino Payments Bank emphasized its commitment to robust governance standards, clarifying that the investigation does not pertain to the bank’s GST compliance and reassuring stakeholders of its operational stability.

    While the specifics of the case revolve around tax evasion allegations, the broader tech angle highlights the necessity for companies to adhere to regulatory frameworks and uphold ethical standards. The outcome of this legal battle serves as a reminder for tech firms to prioritize compliance and transparency in their operations to maintain trust and credibility.

    Source: Inc42 Media