Proptech firm Square Yards reported a 52% increase in revenue for Q1 FY25, reaching Rs 261 crore with a gross transaction value of Rs 10,053 crore. Despite growth, the company posted a negative EBITDA margin of Rs 32 crore. Square Yards aims for Rs 1,506 crore revenue in FY25.
Health-tech startup Sunfox Technologies raised Rs 15 crore in a pre-Series A round led by Venture Catalysts. The funds will be used for global expansion and scaling its portable ECG device, Spandan. Co-founded in 2016, Sunfox’s innovative technology has saved over 10,000 lives across 20 countries.
Amazon plans to enter India’s quick commerce market in early 2025, challenging leaders BlinkIt, Zepto, and Swiggy Instamart. Nishant Sardana will lead this new vertical. The move follows Amazon’s competitor Flipkart’s entry into the sector and Tata’s BigBasket pivoting to quick deliveries.
Post-sales service firm Servify raised Rs 84 crore ($10 million) in a Series D tranche from Bajaj Holdings, Trifecta, and Innoven Capital. The funding mix includes equity and debt, valuing the Mumbai-based company at Rs 7,074 crore ($852 million). Servify continues to grow, despite net losses.
Insurtech startup InsurancePadosi raised $500K in a pre-seed round led by Antler. The funds will enhance technology, expand product offerings, and boost sales and marketing. Founded in 2023, the platform offers AI-driven personalized insurance recommendations and aims to educate 200,000 individuals about insurance needs within the next year.
Conversation intelligence platform Convin secured $6.5 million in Series A funding led by India Quotient, with support from JSW Ventures and others. Founded in 2021, Convin uses AI to enhance customer-facing teams’ efficiency. The funds will help expand the team and distribution channels as the company projects significant growth.
Spiritual tech startup My Tirth India is closing down due to a funding shortfall, following the death of its primary investor, Subrata Roy. Despite the sector’s growth, with $40 million raised by competitors, My Tirth India couldn’t sustain operations. The startup had focused on facilitating pilgrimages across India.
HouseEazy, an online marketplace for pre-owned homes, secured $7 million in Series A funding led by Chiratae Ventures, with contributions from Alteria Capital and Antler. The funds will support expansion in NCR, enhance branding, and develop their platform. The company is valued at over $18 million.
Titan-owned CaratLane saw a 42% revenue increase in FY24, reaching Rs 3,106 crore, driven by jewelry sales. Despite growth, profits dipped slightly due to aggressive expansion. The company’s operating costs rose 48%, with major expenses in procurement, employee benefits, and promotions. CaratLane now operates over 262 stores across 105 cities.
Legends League Cricket (LLC), featuring senior cricketers, raised Rs 39 crore from Brickwork, valuing the league at Rs 350 crore. Co-founded in 2021, LLC plans to expand its six-franchise format, with the 2024 season scheduled from September 11 to October 5, featuring 34 matches in India and Qatar.
