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Indian startups cumulatively raised $200.16 Mn via 25 deals this week, a 45% jump from last week's $138.04 Mn raised through 15 deals👇 Here are some key startup funding highlights of the week: 🔸 The week’s biggest fundraise was fintech unicorn slice’s $30 Mn debt funding from Neo Asset Management Pvt. Ltd.’s Credit Opportunities Fund. 🔸 Propelled by Lenskart.com & NEWME’s funding rounds, ecommerce emerged as the most funded sector this week - cumulatively raising $48.6 Mn via 6 deals. 🔸 The travel tech sector was the 2nd favourite sector for investors this week. Startups in the space raised $40.48 Mn via 4 deals this week. 🔸 For the second consecutive week, seed funding grew 17% to $9.78 Mn from last week’s $8.33 Mn. #fundraising #startups #d2c

Trying to distinguish itself with its comprehensive hair treatment solutions is a new kid on the block, Traya. Founded in 2019 by Saloni Anand and Altaf Saiyed, the D2C brand specialises in personalised hair care solutions, addressing individual customer hair issues through advanced technology 👇 The startup integrates Ayurveda, Dermatology and Nutrition to treat hair loss. It operates via its app, website and major ecommerce platforms like Amazon and Flipkart. The founders claim to have served over 8 Lakh customers, with 70% of its consumer base residing in non-metro cities. The startup generated revenues to the tune of INR 61 Cr in FY23, as per the cofounders. The startup has garnered significant interest from Xponentia Capital, Fireside Ventures, Kae Capital, Stride Ventures and Whiteboard Capital, raising INR 165 Cr since its inception. In the competitive customised beauty and personal care market, Traya faces direct competition from brands like Arata, Vedix, SkinKraft, and Ravel Care. 🔗 Read how Traya is filling the bald spot left unattended by Unilever, L’Oréal & others in the Indian hair care market 👇 #startups #haircare #business https://lnkd.in/euWDwi-R

Paytm reported a net loss of INR 840.1 Cr in the quarter ended June 2024 (Q1 FY25), up 134% from INR 358.4 Cr in the year-ago quarter 👇 Operating revenue also declined 36% to INR 1,502 Cr during the quarter under review from INR 2,342 Cr in Q1 FY24. Despite this, the Vijay Shekhar Sharma-led startup said in a statement that it expects revenue and profitability to improve going forward. The company said this growth will come on the back of revival of its merchant payment business, expansion of loan cross-selling vertical, strong product market fit for its shop insurance vertical, among others. Following this, the company’s shares surged over 6% during the intraday trading session on the BSE. The stock gave up some of the gains to close over 3% higher at INR 458.70 on the BSE. 🔗 Take a look at the key highlights from the company’s Q1 financial results: https://lnkd.in/gRFXFV8G #news #paytm #fintech #business

The digital and new commerce business contributed 18% to the total revenue of Reliance Retail in the June quarter (Q1) of the financial year 2024-25 (FY25) 👇 The retail giant did not disclose the contribution of the segment in its quarterly financial statements for the quarter ended March 2024. However, the vertical accounted for 19% of the retail giant’s total revenue in Q3 FY24. Overall, Reliance Retail’s net profit jumped 4.6% to INR 2,549 Cr in the quarter ended June 2024 from INR 2,436 Cr in the year-ago period. Sequentially, profit declined more than 7% from INR 2,746 Cr in Q4 FY24. Meanwhile, operating revenue rose 6.6% YoY to INR 66,260 Cr in Q1 FY25 even as the top line witnessed a sequential decline of nearly 2% from 67,610 Cr in the quarter ended March 2024. #relianceretail #revenue #profits

Troubled edtech firm BYJU’S has moved the Karnataka High Court challenging the National Company Law Tribunal order on the Board of Control for Cricket in India’s insolvency plea. However, the court did not admit the plea 👇 The edtech firm plans to approach the National Company Law Appellate Tribunal (NCLAT) again on Monday (July 22). On July 16, it was reported that the NCLT had admitted BYJU’S parent company, Think and Learn Pvt Ltd, into insolvency due to unpaid dues of INR 158 Cr related to sponsorship rights from the BCCI. BYJU’S owes INR 158.9 Cr to the cricket body over a jersey sponsorship deal involving the Indian cricket team. 🔗 To read more in detail, click here: https://lnkd.in/gFC3Ntcd #news #byjus #NCLT #insolvency

A month after rolling out its “Meta Verified” offering for WhatsApp Business users in India, social media giant Meta has now expanded the service to Facebook and Instagram👇 Meta Verified is a subscription service that helps brands enhance credibility with new audiences with a “blue tick”, enhanced account support, impersonation protection, and additional features to support discovery and connection. As part of the new announcement, the company has introduced a four-tiered subscription slab – Standard, Plus, Premium, and Max. The basic Standard plan starts at INR 639 for a single app per month, while the Max goes all the way up to INR 30,000 for a month for two apps. 🔗To read more in detail, click here: https://lnkd.in/gy7nmxvm #news #Meta #Metaverified #socialmedia

Byju Raveendran, the founder and CEO of troubled edtech juggernaut BYJU’S, has reportedly said that the insolvency proceedings initiated against the startup will likely “force” thousands of its employees to resign 👇 As per a 452-page filing before the Karnataka High Court (HC), Raveendran said that the move will also result in a “total shutdown” of the edtech startup’s operations. The petition, filed through his counsel MZM Legal, seeks to quash the insolvency proceedings. The plea is also said to detail the possible business impact of the insolvency process on the company. In the plea, Raveendran said that the proceedings will likely cause vendors, who “provide critical services” for the upkeep of the startup’s online platforms, to declare a default. This, he added, could lead to a “total shutdown of services” and bring the edtech’s operations to a “grinding halt”. 🔗 To read more in detail, click here: https://lnkd.in/gDCcexEq #news #edtech #byjus

Given the erratic nature of funding in the world’s third-largest startup ecosystem, a question has everyone perplexed — Will the funding winter’s impact on the Indian startup ecosystem subside anytime soon? Well, the good news is that several startup investors expect the gloomy clouds of the long-standing funding winter to disappear soon. According to an Inc42 survey — “India’s Top Startup Investor Ranking H1 2024 Survey” — about 93% of over 50 startup investors see 2024 as a turnaround year for Indian startups. Only a mere 7% feel that funding corrections will continue to fret Indian startup founders. 🔗 To read the in-depth article, click here 👇 #funding #startups #growth

Reliance Industries Limited’s (RIL’s) digital giant Jio Platforms posted a 12% year-on-year (YoY) increase in its consolidated net profit to INR 5,693 Cr in the first quarter of the financial year 2024-25 (FY25)👇 However, net profit grew about 2% from INR 5,583 Cr in Q4 FY24. Revenue from operations grew 13% YoY to INR 29,449 Cr in Q1 FY25. On a sequential basis, operating revenue grew 2% from INR 28,871 Cr. 🔗 To read more in detail, click here: https://lnkd.in/g94YYka8 #news #Reliance #Jio #revenue #financials

Did you know? A remarkable 45% of all listed Indian startups are headquartered in Delhi NCR! Let’s take a closer look at the IPO powerhouses of India 👇  ➡️ Delhi NCR startups drive a whopping 78% of India’s listed startup market value.  ➡️ 4 out of the top 5 most valued listed startups – Zomato, Infoedge, MakeMyTrip and Policybazaar.com – are headquartered in Delhi NCR.  ➡️ As per Inc42’s latest report,  Delhi NCR was the 3rd most funded startup hub with $1.06 Bn raised across 91 startup deals in H1 2024. P.S. For more insights on India's startup funding scenario, check out Inc42's latest “Indian Tech Startup Funding Report H1 2024”. Out now! #startup #delhincr #funding