Daily Brief – 7 July 2025: Khetika Raises $18M, BigBasket Gets New CFO, Jio-BlackRock Breaks ₹17,800 Cr Barrier

Big moves and big money marked 7 July 2025. Khetika raised $18 million, BigBasket welcomed a new CFO, and Jio-BlackRock collected INR 17,800 crore in its first mutual fund offer. Here’s a quick look at all the key updates from the day.

Daily Indian Funding Digest – 7 July 2025

InPrime Finserv raised INR 50 Crore in Series A1

InPrime Finserv has raised INR 50 crore (~US $6.02 million) in a Series A1 round led by Pravega Ventures, with participation from Z47, InfoEdge Ventures, and Kettleborough VC.

Founded in 2021 by Sneh Thakur, Manish Raj, and Rajat Singh, the company focuses on providing credit to underserved “informal prime” customers, micro‑entrepreneurs, small retailers, and farmers. It has already served 7,500+ households and disbursed nearly INR 100 crore in loans. The round will help expand its reach across Bharat, targeting 50 locations over the next year.

WiseLife raised INR 8 Crore from Rukam Capital

WiseLife, a D2C wellness brand, has raised INR 8 crore in a Seed/Pre‑Series A round led by Rukam Capital. The company offers eco‑friendly yoga mats and fitness accessories, gained prominence via Shark Tank India Season 3, and has achieved nearly INR 9 crore in FY24 revenue. The new funding will support scaling distribution and product innovation.

Khetika secured  $18 Million in Series B

Mumbai-based clean-label food brand Khetika has secured $18 million (approx INR 153 crore) in its Series B round. The round was co-led by Narotam Sekhsaria Family Office and Anicut Capital, with continued participation from Incofin India Progress Fund, Rajasthan Gum, and Shree Ram India Gums. Funds will drive brand building, new manufacturing, product launches, and expansion into markets such as Europe, the Middle East, and the US.

Divine Hindu raised INR 1.56 Crore Seed round

D2C spiritual-lifestyle brand founded by Aniruddha and Anurodh Singhai, Divine Hindu has raised INR 1.56 crore in a Seed round. Investors include BeyondSeed, D2C Insider Super Angels, and Signal Ventures. The brand offers lab-tested spiritual products—Rudraksha, puja kits, brass idols and intends to expand across Indian e‑commerce and internationally while building a community around Hindu traditions.

AMAMA secured $1 Million in funding

AMAMA, the Delhi-based handcrafted jewellery label founded by Nikita Gupta, has raised $1 million in funding from Mistry Ventures LLP. AMAMA blends traditional craftsmanship with contemporary design. It plans to use the funds to scale operations, expand its design team, open four new stores (Mumbai, Ahmedabad, Delhi NCR), and explore international expansion.

Key News Highlights for 7 July 2025

Jio‑BlackRock Raises INR 17,800 Crore in Maiden Mutual Fund Offer

JioBlackRock Asset Management, the 50:50 JV between Jio Financial Services and BlackRock, has raised INR 17,800 crore (~$2.1 billion) via its debut NFO across three cash/debt schemes over a three-day window. The offer drew support from 90+ institutional and over 67,000 retail investors, catapulting the firm into the top 15 AMCs by debt AUM.

Square Yards to Raise INR 2,000 Crore via IPO at ₹15.2 Billion Valuation

Real estate platform Square Yards plans to raise INR 2,000 crore through an IPO, valuing the company at approximately $1.5-2 billion. First reported by Entrackr, the capital raise aims to drive product investments, geographic expansion, and strengthen its technology platform. (Note: Details first reported by Entrackr on 7 July 2025.)

Incuspaze Acquires Real‑Estate Analytics Firm VSKOUT

Workspace solutions provider Incuspaze has acquired VSKOUT, a SaaS platform for commercial real estate analytics, via a cash and equity-swap deal. The merger marries Incuspaze’s 50-location, 4 million sq ft footprint with VSKOUT’s data intelligence, aiming to enhance site selection for enterprises and GCCs.

Bombay High Court Quashes INR 170 Crore GST Demand Against Go Digit

The Bombay High Court has set aside an INR 170.29 crore GST demand (INR 154.8 crore in tax, INR 15.48 crore in penalties) previously issued to Go Digit General Insurance, ordering a fresh adjudication in line with GST Council guidance. The ruling is seen as significant for the broader insurance sector and carries no immediate financial impact.

bigbasket Appoints Manish Bajoria as Chief Financial Officer

Tata‑backed online grocer bigbasket has appointed Manish Bajoria as its new Chief Financial Officer. Bajoria brings over 20 years of experience, including leadership roles at Amazon, Hindustan Unilever, and, most recently Vini Cosmetics, and begins his tenure during BigBasket’s expansion into quick-commerce and smaller cities.

Eternal Appoints Aditya Mangla as Food Delivery CEO

Eternal (formerly Zomato) has appointed Aditya Mangla as CEO of its food‑ordering and delivery business, succeeding Rakesh Ranjan. Mangla, who joined in March 2021, has previously led supply, product, and customer‑experience functions.

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