Indian startups raised over $1.03 billion across 126 deals in July, maintaining a $1 billion monthly funding run rate. Despite a decline from June’s $1.93 billion, it marked the highest July funding in three years. Key deals included Purplle and Rapido’s $120 million each, with Rapido becoming a unicorn.
Fintech firm Infibeam Avenues saw a 3.6% revenue increase to Rs 753 crore and a 43% profit spike to Rs 70 crore in Q1 FY25. The payment business contributed 93.6% of total revenue. Operating expenses remained flat, aiding profit growth. Infibeam also acquired a 54% stake in Rediff.com.
Ixigo’s revenue from operations rose 10.3% to Rs 181.88 crore in Q1 FY25, up from Rs 164.85 crore in Q4 FY24. The company’s profit more than doubled to Rs 14.85 crore. Train ticketing accounted for 55.23% of revenue, while expenses increased by 10.3%.
Zomato reported an 18.1% revenue increase to Rs 4,206 crore and a 44.6% profit growth in Q1 FY25. The food delivery segment contributed Rs 1,942 crore, while B2B supplies and quick commerce added Rs 1,212 crore and Rs 942 crore. Overall expenditure rose to Rs 4,203 crore.
Scimplify, a B2B platform for specialty chemicals, raised Rs 59 crore ($7 million) in its Series A round led by Omnivore, with participation from 3One4 Capital, Beenext Asia, and Bertelsmann. The funds will support its operations from contract research to commercial chemical manufacturing across various industries.
Kinetic Green, the EV arm of Kinetic Group, raised Rs 168 crore ($20 million) in equity and debt from Greater Pacific Capital. The funds will be used for debt repayment, capital expenditure, and marketing. The Pune-based company aims to double its EV sales to 100,000 units in FY25.
E-commerce SaaS platform Unicommerce will launch its IPO on August 6, following approval from SEBI. The company aims to raise funds through an offer for sale (OFS) of up to 2,98,40,486 equity shares, with major shareholders AceVector Limited and SB Investment Holdings participating. Founders Kunal Bahl and Rohit Bansal are not selling shares.
Embattled edtech firm Byju’s has agreed to pay Rs 158 crore to the BCCI, settling a dispute. Byju’s paid Rs 50 crore, with the rest due by August 9. The settlement, led by co-founder Riju Raveendran, follows the NCLAT’s demand for an undertaking to ensure funds are not misused. This comes amid ongoing financial and leadership challenges for Byju’s.
BrainBees Solutions Ltd, FirstCry’s parent company, will launch its IPO from August 6 to 8, seeking a $2.9-3 billion valuation. The IPO includes a fresh issue of shares worth Rs 1,666 crore and an offer for sale of 54.39 million shares. Major shareholders SoftBank, Mahindra & Mahindra, and Premji Invest will sell stakes. FirstCry’s FY24 revenue rose to Rs 6,481 crore with losses reduced by 34%.
CarTrade Tech’s revenue from operations dropped 2.8% to Rs 141 crore in Q1 FY25, with profit falling 8% due to increased employee costs. The Mumbai-based company’s overall income remained steady at Rs 156 crore, but expenses, particularly employee costs, rose 6% to Rs 71 crore.
