PhonePe has captured over 50% of UPI transaction value and 48.36% of volume as of August 2024, according to NPCI. With 7.23 billion transactions worth ₹10.33 lakh crore, PhonePe leads competitors Google Pay (37.3% by volume) and Paytm (7.21% by volume) in India’s payments landscape.
PhonePe has captured over 50% of UPI transaction value and 48.36% of volume as of August 2024, according to NPCI. With 7.23 billion transactions worth ₹10.33 lakh crore, PhonePe leads competitors Google Pay (37.3% by volume) and Paytm (7.21% by volume) in India’s payments landscape.
Ola Electric is expected to reach EBITDA breakeven by FY27, with a projected fivefold vehicle volume increase and 40% revenue growth. Despite modest FY24 revenue, the company controlled losses and gained market share. Goldman Sachs issued a “buy” rating, expecting a 50% share price upside.
Kaatil, an Indian-chilli-focused hot condiment brand, has secured seed funding led by Prajay Advisors. The brand, recognized with the Great Taste Award 2024, will use the funds to expand its product lines globally through e-commerce, retail, and B2B channels. Kaatil products are available in India, the USA, Canada, and New Zealand.
Amazon Web Services (AWS) has chosen seven Indian startups—Convrse, House of Models, Neural Garage, Orbo.ai, Phot.ai, Unscript AI, and Zocket—for its global generative AI accelerator. These startups will receive up to $1 million in AWS credits to develop and scale their AI solutions, leveraging AWS tools like SageMaker and Bedrock.
DailyObjects, a D2C tech accessories brand, raised Rs 72 crore ($8.6 million) from 360 One Ventures. The funds will support working capital and expansion. Valued at Rs 382 crore, the company has expanded its ESOP pool and posted two-fold revenue growth to Rs 83 crore in FY23.
IIMA Ventures has launched Growth Accelerator 2.0 to support 15 SMEs and family businesses. The program offers workshops, mentoring, and strategic growth sessions to help participants scale. It includes a three-day bootcamp at IIM Ahmedabad, followed by two months of personalized mentorship, focusing on practical growth strategies.
Construction platform Infra.Market secured Rs 150 crore ($18 million) in its Series E2 round, following a $50 million raise from Mars Fund. The Tiger Global-backed firm, valued at $2.6 billion, is eyeing a larger $150-200 million round and preparing for an IPO. Revenue hit Rs 11,846 crore in FY23.
Venttup, an Industries 5.0 startup, raised seed funding to enhance its technology and growth. Founded by Sandeep Nair, M. Wasim Ankli, and Joseph Panakkal, the company unites MSMEs on a digital platform to offer sustainable, localized manufacturing solutions across multiple sectors, aiming for 5x revenue growth in a year.
SaaS-based digital adoption platform Whatfix secured nearly $100 million in funding, led by Warburg Pincus’ Sweet Nectar Investments and SoftBank. The Bengaluru-based company’s first funding in three years included Rs 296.74 crore in primary capital and Rs 530 crore in secondary funding, valuing Whatfix at $820-830 million.
