This article has been contributed byS. Anand, Founder & CEO, PaySprint
India’s digital transformation is no longer about flashy apps or isolated innovations, is about the quiet infrastructure that powers them. At the heart of this shift lies the Application Programming Interface (API), the digital handshake that connects banks, fintechs, businesses, and consumers in real time.
APIs have become the invisible backbone of financial services. They allow payments to flow, identities to be verified, loans to be processed, and services to be embedded seamlessly into daily life. To understand how APIs are making India a truly digital-first economy, we need to look at their role in bridging institutions, powering everyday interactions, and driving financial inclusion across urban and rural Bharat alike.
APIs as Bridges Between Banks and Fintechs
For decades, banks operated as closed fortresses, relying on legacy systems and manual processes. Fintechs, on the other hand, thrive on agility and customer-centric innovation. APIs are the connectors that enable these two worlds to collaborate.
Through standardized interfaces, fintechs can now plug directly into banking systems without months of integration work. This allows them to offer services such as payments, credit, or reconciliation on top of a robust banking infrastructure. The result is faster product launches, more competition, and better experiences for end users.
In essence, APIs have turned banking from a walled garden into a collaborative ecosystem. Instead of each player building from scratch, businesses can now access modular financial services and focus on solving customer problems.
APIs in Action: UPI and Digital KYC
For most Indians, the most visible examples of API innovation are UPI (Unified Payments Interface) and digital KYC (Know Your Customer). Every time someone scans a QR code at a tea stall, APIs are silently at work. They authenticate the account, route the transaction, and confirm payment in seconds. This API-powered backbone has made UPI the world’s most successful real-time payments system, processing billions of monthly transactions.
Similarly, digital KYC has replaced stacks of photocopied documents with a few taps on a mobile screen. APIs enable instant Aadhaar, PAN, or bank account verification, cutting down customer onboarding from weeks to minutes. A small business applying for a loan can now be verified and approved digitally, often within hours. These examples highlight how APIs are not abstract technical tools but everyday enablers of convenience and trust.
Digital finance rests on two pillars: speed and security. APIs make it possible to deliver both at scale. Built with encryption, authentication, and real-time monitoring, APIs ensure that sensitive financial data moves securely. They allow everything from INR 50 mobile recharges to large corporate settlements to happen instantly, without compromising trust.
Beyond speed, APIs are also enabling smarter risk management. For instance, credit scoring APIs can analyze GST filings, telecom usage, or utility bills to assess a borrower’s creditworthiness in real time. This not only accelerates access to credit but also reduces defaults, benefiting both lenders and borrowers.
Extending Access to Rural India
Enable Financial Inclusion For Rural India through APIs
The real promise of APIs is not just in urban convenience but in financial inclusion for rural Bharat. APIs power micro-ATMs and Aadhaar-enabled payment services that bring digital banking to the last mile. At a local kirana shop, villagers can withdraw subsidies, che ck balances, or transfer funds securely using biometric authentication. These services are not isolated innovations; they are connected to India’s banking backbone through APIs.
Consider a farmer in a Tier-3 town. His mobile recharge history, combined with consent-based data sharing, could now be used to build a digital credit profile. APIs make it possible for lenders to extend him a credit line without traditional collateral or physical paperwork. This is how APIs are turning inclusion from a policy slogan into a lived reality.
The Rise of Invisible Finance
One of the most powerful shifts enabled by APIs is the rise of “invisible finance”. Increasingly, financial services are embedded so deeply into platforms that users don’t even realize they are interacting with them. When an e-commerce platform offers “buy now, pay later,” or a ride-hailing app provides instant insurance coverage, APIs are the silent enablers. These financial services are woven into existing digital journeys, reducing friction and meeting users where they already are.
This invisibility matters. By removing extra steps, APIs make finance feel natural, even subconscious, whether it’s a student splitting bills on a messaging app or a subscription that renews automatically without reminders.
India’s leapfrog in digital finance has been made possible not just by technology but also by forward-looking regulation. Frameworks like UPI, Aadhaar, Account Aggregators, and digital KYC are built on standardized APIs and open protocols. Regulators have prioritized interoperability and consent-driven data sharing, creating guardrails that protect users while encouraging innovation.
The Account Aggregator system, for example, allows individuals to securely share financial data with lenders, with full consent and privacy safeguards. This opens doors to credit for millions who were previously invisible to the formal financial system.
APIs as the Rails of the Future
The next phase of India’s digital economy will be defined less by apps competing for user attention and more by shared infrastructure layers, what some call “super-rails.” APIs will continue to power embedded finance, cross-border payments, and real-time compliance. For businesses, this means shorter time-to-market and reduced costs. For users, it means smoother experiences and deeper trust. For the economy, it means broader participation in formal finance. In other words, just as highways unlocked trade in the physical world, APIs are creating highways for money, identity, and trust in the digital world.
Conclusion: The Invisible Backbone of a Digital Nation
APIs may rarely make headlines, but they are at the center of India’s digital-first journey. They connect banks with fintechs, enable instant payments, secure identities, expand access to rural communities, and seamlessly integrate finance into daily life.
As India moves toward a trillion-dollar digital economy, APIs will remain its invisible infrastructure, the rails on which innovation, inclusion, and growth will run. Their true success will be measured not by how visible they are, but by how naturally they enable millions to participate in the economy without even realizing it.
Ghazal Alagh, co-founder of Mamaearth and investor on Shark Tank India, has criticised traditional productivity frameworks, saying they were designed primarily by men, for men, and often ignore the unique biological rhythms of women.
In a recent LinkedIn post that has attracted widespread attention, Alagh explained that many popular routines, including the “5 AM Club” and rigid gym schedules, can be counterproductive for women. “The 5 AM club demands you wake up at dawn every single day. Daily gym consistency expects the same workout intensity regardless of how you feel. Ice baths and rigid morning routines ignore your body’s natural fluctuations,” she wrote.
Women’s 28-Day Biological Cycle Matters
Alagh highlighted that women’s bodies operate on a 28-day hormonal cycle, unlike men’s relatively stable daily patterns. This cycle influences energy, creativity, and focus throughout the month.
“One week we experience high energy and peak performance, making it the perfect time to tackle our biggest challenges. Another brings our creative peak, ideal for brainstorming and strategic thinking. And then one week, just getting through is brave enough,” she said.
“Forcing ourselves to hit the gym with the same intensity every day when our hormones signal rest isn’t discipline, it’s self-sabotage,” Alagh noted.
Aligning Work With Natural Energy Can Reduce Burnout
Alagh suggested a female-optimised approach that respects natural fluctuations while maintaining consistency. She recommended aligning tasks with energy levels:
High-energy phases for tackling high-impact tasks
Creative peaks for brainstorming and innovation
Sharp-minded periods for detail-oriented work
Introspective phases for strategic reflection
“Work doesn’t pause, and neither do we. By aligning our energy with our tasks where possible, we maximise output and minimise burnout. The results are more favourable — stronger performance, sustained focus, and a system that feels authentic to who we are,” she explained.
Rethinking Productivity Frameworks
Alagh concluded her post by encouraging women to reconsider traditional productivity models. “Girls, we don’t need to optimise for male patterns of success. We need frameworks that honour how we’re wired,” she wrote, inviting her network to share strategies that work best for them.
Her insights have sparked conversations on how workplace expectations and conventional success systems can be adapted to support women more effectively. Many experts say such approaches are crucial for sustaining performance and well-being in female-led businesses.
With an ultimatum to staff members, Microsoft is formally ending its period of flexible remote work: work from the office at least three days a week or risk having their career options restricted. With effect starting in February 2026, the Redmond giant’s new policy marks a significant departure from its flexibility during the pandemic. In an internal memo, Chief People Officer Amy Coleman stated that the mandate begins with employees in the Seattle region who live within 50 miles of Microsoft offices.
As the organisation places a greater focus on face-to-face collaboration for career advancement, employees who don’t comply may find themselves at a disadvantage. Coleman suggested that distant workers might find it difficult to prove their worth.
“We’ve looked at how our teams work best, and the data is clear: when people work together in person more often, they thrive—they are more energised and empowered, and they deliver stronger results,” Coleman said.
Microsoft Focusing on Employee Performance
The policy is part of Microsoft’s larger effort to enhance employee performance, which has included the recent firing of thousands of people who were thought to be underperforming and the implementation of accelerated improvement programmes aimed at firing underperforming employees. This situation implies that workers who defy the office directive can be subject to closer scrutiny during assessments.
The Puget Sound region will be the initial phase of the deployment, followed by other US locales and, in 2026, worldwide operations. Although the requirements for approval are still unknown, employees have until September 19 to request exceptions.
Microsoft Employees Need to Come Out of WFH Culture
Coleman underlined that Microsoft’s current objective, the creation of AI products, necessitates intelligent individuals collaborating to solve difficult challenges.
This wording suggests that remote workers might not be able to participate in high-profile projects that are essential for advancing their careers. Due to client needs, some positions, such as field marketing, consulting, and account management, will be exempt. The message is obvious for the majority of workers, though: accept the return to the office or risk being left out of Microsoft’s expansion plans.
Microsoft Recent Layoff
Microsoft revealed plans to reduce its staff by 3% earlier this year in February. This layoff effort will impact about 6,000 employees across all teams and levels. Microsoft said in a statement to CNBC that it is still making the organisational adjustments required to put the business in the best possible position for success in a changing market.
Despite Microsoft’s better-than-expected quarterly net profitability of $25.8 billion, the layoffs nonetheless occurred. While cutting expenses elsewhere to protect profit margins, Big Tech has been investing substantially in AI because they see the new technology as a significant growth engine. In an effort to reduce expenses and give AI top priority, Google has also let go of hundreds of workers in the last 12 months.
Quick
Shots
•Policy begins with Seattle region
employees living within 50 miles of offices.
•Non-compliance may limit career
growth and project opportunities.
•Chief People Officer Amy Coleman:
in-person work boosts collaboration, energy, and results.
•Employees can request exceptions
until September 19, 2025.
In this exclusive virtual conversation with StartupTalky, Nehal Mota, Co-founder & CEO of Finnovate, shares her personal journey with money, the life-changing experiences that shaped her outlook, and practical strategies for financial fitness. She also discusses investing basics, common money mistakes, early retirement planning, and why financial independence is especially empowering for women.
Early Relationship with Money
Growing up, Nehal Mota described herself as someone who did not hold back when it came to spending.
“I was a person who would actually spend money. So people around me just said that you have a very free hand and you spend a lot.”
Coming from a middle-class family, she experienced scarcity, which pushed her to think differently about money from an early age.
“In school I decided that financial independence is important and I can’t be dependent on anyone for money. If I’m financially independent, then I’m not answerable to anyone on how I spend.”
Life-Changing Experiences
One of the turning points in Nehal’s life was surviving the Bhuj earthquake. This shaped her resilience and outlook on security. It was one of the experiences that stayed with her as she transitioned from a corporate career into building Finnovate, a platform focused on structured financial planning.
The Six Pillars of Financial Fitness
At Finnovate, Nehal stresses what she calls the six pillars of financial fitness. These cover everything from emergency funds and insurance to investments and retirement planning. She explained that the goal is to give people a structured approach to money management.
“Financial independence is about peace of mind. It is about the ability to make choices without fear.”
Investing Made Simple
Nehal broke down investing in simple terms. She explained SIPs, SIFs, and ETFs, making it easy for beginners to understand where to start. According to her, consistency matters more than timing the market.
“Even with ₹5,000 to ₹10,000 a month, anyone can start building a portfolio. What matters is consistency.”
She also highlighted the role of asset allocation and why gold still has relevance in a modern portfolio.
“Gold may not give extraordinary returns, but it brings stability and acts as a safeguard in uncertain times.”
Common Mistakes and Early Retirement
Many people in their 20s and 30s struggle with overspending, ignoring insurance, or delaying investments. Nehal cautioned against these mistakes and also touched on the idea of early retirement (FIRE). While the movement is appealing, she stressed that it requires planning and discipline.
Women and Financial Independence
For Nehal, financial fitness is especially important for women. She emphasised that independence is not just financial, but also emotional and social.
“If you’re financially independent, you have the confidence to take your own decisions. It’s a form of empowerment.”
Final Thoughts
The conversation with Nehal Mota combined personal experiences, professional insights, and practical advice. From the importance of starting early to building resilience, her perspective makes financial fitness accessible for everyone.
🎥 Watch the full conversation with Nehal Mota here:
Nehal Mota, Co-founder and CEO, Finnovate in Conversation with Startuptalky
Digital payments are now an integral part of daily life; from UPI payments at kirana stores to shopping malls, paying for OTT subscriptions, booking travel, settling utility bills, online shopping and more. However, with this convenience comes an increasing risk of online fraud, including phishing, fake apps, SIM swaps, and unauthorised transactions. To give consumers peace of mind, Airtel Payments Bank has introduced the Safe Second Account – a smarter, safer way to pay. It’s a choice that enables customers keep their primary savings protected, while they freely use the Airtel Payments Bank savings account as their second account for everyday payment needs.
Why a Safe Second Account?
Instead of risking the core savings with every digital transaction, customers can simply use Airtel Payments Bank’s safe second account for daily spending. That way, the main savings remain shielded from fraud. Safe Second Account benefits include:
Instant account opening via Airtel Thanks app
Earn interest upto 6.5%* (T &C Apply)
Zero minimum balance requirement
Seamless UPI integration
Eco-friendly debit card with benefits up to INR 15,000
Full suite of bill payment and recharge options
Security as the bedrock of Safe Second Account
The account comes with multiple safeguards built for today’s digital risks, including:
Fraud alarm: instantly block suspicious activity
Sleep mode: put your account on pause when not in use
AI-driven face match to detect high-risk transactions
Set daily transaction limits and get real-time alerts
Anubrata Biswas, MD & CEO, Airtel Payments Bank, said, “Digital payments have transformed the way India manages money, but with convenience comes the responsibility of ensuring safety. The Safe Second Account is a step in that direction – encouraging a simple yet powerful habit of separating everyday transaction funds from core savings. We believe this small behavioral shift can help consumers embrace digital transactions more securely, and over time, shape the future of safe banking in India.”
Accessible to all segments, the Safe Second Account has no entry barriers, can be opened digitally on the banking section of the Airtel Thanks App.
About Airtel Payments Bank
Airtel Payments Bank offers a diverse range of safe, simple, and rewarding banking solutions through a network of over 5 lakh banking points across India, alongside its robust digital platforms. With a strong focus on Digital India and Financial Inclusion, Airtel Payments Bank continues to lead the charge in making secure digital payments more accessible to all resident Indians.
The Taj chain’s The Pierre Hotel in New York might witness a change of ownership. Essam Khashoggi, a Saudi billionaire, and the Sultan of Brunei have both indicated interest in paying $2 billion to purchase the famous Manhattan estate. After managing the Pierre for almost 20 years, Taj might leave if the deal is finalised.
As a result, Taj will only have one property in the US: San Francisco’s Taj Campton Place. Taj’s website states that it purchased The Pierre in 2005 and made it its flagship property in North America. Four years later, the upscale hotel underwent a $100 million restoration.
United Overseas Holding (UOH), a 100% subsidiary of Indian Hotels (IHCL), a Mumbai-listed company that owns the Taj chain and is a member of the $165 billion Tata Group, is the parent company of the hotels in New York and San Francisco. According to business reports, IHCL invested INR 2,324 crore in stock in UOH in FY25. But throughout that time, UOH claimed to have lost INR 82 crore.
Taj Put Up The Pierre Hotel for Sale Last Year
After deteriorating into a “less-than-ideal” state, the 189-room, restaurant and luxury apartment complex known as The Pierre was listed for sale last year. Owners of apartments are also the property’s stockholders.
Among them are prominent figures such as former Disney CEO Michael Eisner, Princess Firyal of Jordan, fashion designer Tory Burch, and US Commerce Secretary and trade negotiator for President Donald Trump Howard Lutnick, who owns a penthouse.
Exit Might Scale Down Taj’s International Footprints
The departure would signal a reduction in Taj’s global presence if the purchase closes. At the July AGM, IHCL chairman N Chandrasekaran recently informed shareholders that the company had no ambitions to expand aggressively abroad. According to him, the group is not considering every international market when it comes to international expansion.
It will take into account city-specific prospects in regions like South Africa, Africa, and New Zealand, but it will not seek extensive international expansion. In FY25, IHCL’s overseas hotels brought in around INR 1,512 crore in revenue and made Rs 202 crore in operating profit. According to NYT, Taj has defended its property management and suggested improvements that wouldn’t force the occupants to vacate. The Pierre’s board is in the last phases of the selling discussions, the NYT report further mentioned.
Quick
Shots
•Saudi billionaire Essam Khashoggi and
the Sultan of Brunei show interest in buying the property.
•Taj acquired The Pierre in 2005;
underwent $100 million renovation in 2009.
•If sold, Taj’s only U.S. property
will be Taj Campton Place in San Francisco.
•Parent company United Overseas
Holding (UOH) reported INR 82 crore loss in FY25, despite INR 2,324 crore
infusion.
After the central government-led GST council decided to revamp the economy’s current tax structure, the fast-moving consumer goods (FMCG) giant ITC Ltd announced on September 18, 2025, that it has decided to pass on the full benefit to its customers across the firm’s portfolio.
ITC Bringing Required Relief to Consumers
ITC executive director B. Sumant stated that the changes have been revolutionary for businesses and consumers alike, facilitating compliance and fostering expansion. He went on to say that the rationalisation of the GST rate in a number of sectors will undoubtedly benefit consumers by increasing affordability, stimulating consumption, and bolstering investments, growth, and jobs.
The full advantages of the GST rationalisation will be transferred to all relevant products at ITC. According to the corporation, its FMCG companies reach about 7 million retail locations throughout India and cover a broad range of categories and goods. In contrast to its previous multi-slab structure, the national government’s GST Council suggested that India have two GST tax slabs, one at 5% and another at 18%, during its 56th meeting on September 3, 2025. On September 22, 2025, the revised GST structure is scheduled to go into force.
Like ITC, Maruti SuZuki Also Announced Price Cuts
As a result of the GST council’s rate rationalisation decision, automakers such as Maruti Suzuki announced their own price reductions. The sub-four-metre car market, which makes up a major amount of the company’s portfolio, is currently being capitalised on by India’s largest automaker.
Maruti Suzuki passenger cars will be up to INR 1.29 lakh less expensive starting on September 22, 2025, the day the revised GST structure goes into effect, according to earlier reports from a number of media outlets.
Following the GST rate reductions in the Indian economy, additional automakers, including Mahindra & Mahindra, Tata Motors, TVS Motor Co., Yamaha, Honda Automobiles, and Hero MotoCorp., have announced price reductions on the ex-showroom prices of their vehicles.
It is anticipated that these price cuts will increase consumer spending and maybe increase demand for these commonplace items. Additionally, the action shows that the FMCG industry is committed to transferring the advantages of tax cuts to final customers.
Customers are anticipated to embrace the price cuts for these well-known FMCG brands, which could result in higher sales volume in the upcoming months. These price reductions may further encourage consumer spending in the FMCG industry as the festive season draws near.
Quick
Shots
•Consumers to get direct price relief
on ITC products from September 22, 2025.
•ITC FMCG products available in 7
million retail outlets nationwide.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations.
With the availability of fast internet and smartphones, online gaming is gaining much popularity in India, especially among the youth. With this increasing craze, many gaming companies are coming up with engaging and entertaining gaming options.
Gameskraft, a Bangalore-based startup in the online gaming sector, is all set to bring a world-class gaming experience to Indian users. This startup, launched in 2017, is driven by the vision to establish Gameskraft Technologies as a leading gaming company in India. StartupTalky interviewed Gameskraft founder Prithvi Singh. Let’s see what he has to say, what Gameskraft actually is, and how it is transforming the world of online gaming in this StartupTalky article ahead!
Gameskraft is an online gaming company founded in Bengaluru that develops web and mobile games. The company is hailed as India’s first gaming company that gives instant cash rewards. The ISO-certified gaming platform is lauded to be instrumental in building and scaling bellwether technology startups, including Goibibo, Blinkit, Myntra, and Flipkart.
Nostragamus, Rummytime, Pocket52, Rummyculture, and Gamezy are some of the gaming platforms that Gameskraft boasts of, all of which are based on reward systems and use real cash. Gamezy was launched by Gameskraft in 2019, through which it entered the fantasy cricket and football segment. Besides, users can play games like Carrom, Fruit Slice, Fruit Dart, Sheep Fight, Ludo, Snake, Run Boy Run, Quiz, Bricks, and Bubble Burst on Gamezy. Players can play the games for free for practice, and later can opt for playing these games with real money and real players.
Gameskraft debuted with Rummy Culture in 2017. In just a short period, it has evolved into India’s fastest-growing cash rummy platform, with over 1 million active players on its website and Android application. Offering a best-in-class gaming experience with complete digital safety, Rummy Culture has multilingual customer support. Free to register, the platform also provides first-time players with generous welcome bonuses. The USP of Rummy culture lies in its transparency and ease of use, along with instant withdrawals.
RummyCulture Logo
The games are designed after researching the market trends, the demand, and the gaps that exist in the casual gaming industry.
“We made sure our products will cater to the specific needs of the Indian customer. Unlike most other real cash games, our users are credited the money they win on the same day” – Rummyculture ownerPrithvi Singh says.
Gameskraft – Industry
The investment of market leaders such as Alibaba, Tencent, Nazara, and Youzu has contributed to the growth of the Indian gaming industry. India’s online gaming industry, currently valued at $3.7 billion, is expected to grow to $9.1 billion by 2029.
Prithvi Singhfounded Gameskraft in 2017. The company has declared Ramesh Prabhu as the CFO of the gaming startup, who has held the role since August 2018. Harish Rawat serves as the Senior Vice President of Marketing of the business, while Vikas Taneja is known as the Group CEO of Gameskraft.
Prithvi Raj Singh
Gameskraft founder PrithviRajSingh is a B.Tech. Computer Science engineering graduate from Netaji Subhas Institute of Technology. Prior to GamesKraft, he worked with companies like Grofers, now Blinkit, where he had worked as the Staff Engineer; Ignite Technologies as the Chief Architect; CA Technologies as a Manager, and Trilogy, where he had worked as a Technical Associate. Prithvi had already gained knowledge across different domains, including large-scale and enterprise applications.
Prithvi Singh, Founder Gameskraft
Prithvi Singh has always been fascinated with computers, and this is why he chose Computer Science in college. He mentioned this in a YouTube interview, along with discussing much more about his journey and the experiences he had as a first-time investor. Here’s the interview below:
Prithvi Singh – Gameskraft Founder
Gameskraft – Startup Story
Prithvi started showing interest in gaming at a young age. During his college years, he spent a considerable amount of time playing video games. Around the same time, he realized that the market is mostly dominated by international companies and the games are not specific to the Indian market. So, he wanted to develop games, especially for Indian users.
“With Gameskraft, I wanted to bring the Indian context to the online gaming space. The games we develop are mainly targeted at Indian users. Since India’s gaming industry has a huge potential, I was pretty confident about Gameskraft” quotes Gameskraft owner Prithvi Singh.
Gameskraft was launched with the aim of creating the “next big revolution inthe e-gaming industry.”
“Gameskraft’s vision is to be the most loved online gaming company of the 21st century using best-in-class technology. We are here to create a flawless user experience like no other contemporary apps in the market.”
Gameskraft – Name, Tagline and Logo
“We wanted a name for our company that is catchy and easy to remember, so we came up with Gameskraft.”, said rummyculture owner Prithvi Singh.
Gameskraft’s tagline is ‘India’s fastest-growing gaming company’.
Gameskraft logo
Gameskraft – Business and Revenue Model
GamesKraft is built on a user-oriented business model and can thus be summed up as a business operating in a B2b as well as a B2c model. Gameskraft earns revenue by collecting service charges on the cash games. Non-cash games are mostly free, but some games have entry restrictions.
Gameskraft – Customer Acquisition
Initially, word-of-mouth publicity helped Gameskraft to create a name. Gameskraft’s referral program also helped the company attract new customers. The company also offers welcome bonuses to new users. During the Cricket World Cup 2019, Gameskraft launched an exclusive World Cup ‘scratch card’ offer for the Rummyculture users.
As part of this app-only (available on both Android and iOS) offer, users stand a chance to win a prize every hour. However, only mobile-verified users can claim this offer, and they are eligible for a maximum of 8 scratch cards a day.
Under this ‘scratch card’ offer, Rummyculture subscribers can access one scratch card per hour. Each card will be activated for one hour when the match starts. Users can make a claim only during this period. Additionally, Gameskraft recently presented the official World Cup 2019 Team India jersey to Rummyculture players with the highest add-on cash every day from June 1st to 5th. The platform has also added an exclusive World Cup leaderboard to Rummyculture’s platform and users with the highest points tally will receive attractive prizes following the completion of the World Cup 2019. Rummyculture is now available on the iOS platforms too.
“We took a customer-centric approach from the beginning and it has worked really well for us. Customers have grown to like our games because of their transparency and user-centricity.”, said Gameskraft founder Prithvi Singh.
Gameskraft – Funding
Gameskraft doesn’t have any formal investors at present. It was the founder of the company, Prithvi Singh, who arranged some amount of funding from his family and friends to start Gameskraft.
Gameskraft has been making safe gaming experiences ever since it was founded. The company has also been hailed as:
India’s fastest-growing gaming company
A Guinness World Record holder for conducting the world’s largest rummy tournament
Gameskraft boasts of having crossed 1 million downloads
It has a massive player community of 25 million for its app Rummy Culture.
Gameskraft has 2 offices, both of which are located in Bangalore.
It has a team of 600K+ gaming enthusiasts.
It has 421 million online gamers.
Gameskraft Financial
Particulars
2024
2025
Operating Revenue
INR 3,475 crore
INR 3,896 crore
Total Expenses
INR 2,232 crore
INR 2,766 crore
Total Profit
INR 947 crore
INR 706 crore
Gameskraft Financials
Operating revenue increased from INR 3,475 crore in 2024 to INR 3,896 crore in 2025. However, higher expenses led to a decline in total profit from INR 947 crore to INR 706 crore.
Gameskraft – Advisors and Mentors
My family and friends have given me constant support throughout the journey. Whenever I need advice, I turn to them.
Gameskraft has invested in three companies. Below are the details:
Company Name
Funding Round
Date
Amount
Mailmodo
Seed Round
Jun 30, 2021
$2 million
Pocket52
Series A
Jun 2, 2020
$1.8 million
WarmOven
Seed Round
Aug 29, 2019
$835.7 K
Gameskraft – Products and Features
Rummy Culture from Gameskraft
Rummy Culture has introduced new features intended to boost rummy’s appeal to novice players while also improving the gameplay experience for all experienced players. Ultra Deals Rummy is a brand-new game format that Rummy Culture has also debuted.
Gameskraft – Partnerships
Gameskraft has partnered with various prominent companies:
Inspire Institute of Sports
Gamekraft Foundation and IIS have partnerships, and with their partnership, to provide high-class training and access to facilities to identified young sports talents in India across various disciplines in the sport of track and field
Anju Bobby Sports Foundation (ABSF)
Gameskraft has teamed up with the Anju Bobby Sports Foundation (ABSF) to contribute to the establishment of ABSF’s new high-performance academy in Bengaluru. This collaboration reflects Gameskraft Foundation’s commitment to sports development and its vision of fostering social upliftment and success stories across various sports disciplines.
West Bengal National University of Juridical Sciences (WBNUJS)
Gameskraft and the West Bengal National University of Judicial Sciences (WBNUJS) have partnered to create a gaming, technology, and sports legislation research center. This endeavor comes at a crucial time when the gaming industry is quickly evolving and policy reform is gaining ground.
Disney+Hotstar
Gameskraft partnered with Disney+Hotstar on September 22, 2021, to strengthen its brand recognition among viewers.
Gameskraft – Challenges
Gameskraft Layoffs
In September 2025, Gameskraft laid off 120 employees due to India’s ban on real-money gaming under the Online Gaming Act, 2025. The layoffs affected multiple departments, including operations, tech, marketing, and finance. The company is honoring severance, leave encashment, and health benefits. This follows the suspension of platforms like Rummyculture and Pocket52, and comes amid an INR 270 crore fraud case involving the former CFO. The move reflects broader industry impact, with over 2,000 gaming jobs lost nationwide.
Retaining Customers
The most challenging part for the company was retaining a steady customer base. When Gameskraft first started, it mainly focused on a good interface. However, over time, it realized that there are many other important factors. The company constantly keeps on researching and making changes to its platform to meet customer expectations. Rummyculture’s first multi-player tournament didn’t go as planned, mostly due to technical errors. It was a real eye-opener for Gameskraft, and they learned from the mistake and made changes accordingly.
As noted by Prithvi, Gameskraft is a new player in the online gaming space. The Gameskraft focus is currently on its latest offering, Gamezy. The Gamezy owner, Gameskraft, had forayed into the fantasy gaming space earlier in 2019.
“What makes us stand out is that we do extensive market research before rolling out any game. We take regular feedback from our customers to make improvements in various areas – whether it’s the UI of the game or the format.”
Gameskraft – Future Plans
Following India’s 2025 ban on real-money gaming, Gameskraft has paused its rummy and poker platforms and will not pursue legal challenges. The company laid off 120 employees but launched an internal Ideathon to explore new growth ideas. It is now focusing on compliant gaming opportunities, innovation, player safety, and potential diversification into other segments of the gaming industry, leveraging its expertise to adapt to regulatory changes and market dynamics.
FAQs
What is Gameskraft, and who is the founder of Gameskraft?
Gameskraft is an online gaming platform founded in 2017 by Prithvi Singh, which offers an array of interesting games for Indian players. The company takes pride in being India’s first gaming company to give instant cash rewards to the players. The ISO-certified gaming platform also boasts of organizing the world’s largest online rummy tournament and has its name in the Guinness World Records.
Who is Gameskraft ceo?
Vikas Taneja is the CEO of Gameskraft.
Who is Gamezy founder?
The Gamezy founder is none other than Prithvi Raj Singh, who founded Gameskraft.
Who is Ramesh Prabhu?
Ramesh Prabhi is the CFO of Gameskraft.
Who is the owner of Gamezy and RummyCulture?
Gameskraft is the owner of Gamezy and RummyCulture.
Is Gameskraft good and legal?
Gameskraft brings in trusted games. It is also recognized by the ISO certification.
Navratri is popularly known as the nine nights of celebration, worship, and playing garba. Every year, this festival brings a lot of people together in joy, tradition, and cultural pride. In 2025, several brands have also stepped into the festive mode with different Navratri advertising ideas to attract audiences in unique ways.
This roundup showcases how various brands are incorporating the spirit of Navratri into their campaigns; integrating culture, creativity, and connection to leave a festive impression on their audiences. Some brands share devotional posts about the story of the festival and Goddess Durga, while others engage audiences with fun contests like guessing the number of Navratri days or swapping traditional recipes.
To add to the excitement, brands also roll out special offers and discounts, often on festive products such as books, music, movies, and even lifestyle items. These campaigns not only celebrate the cultural essence of Navratri but also help brands build a closer bond with their audiences while showcasing their products in a meaningful way. Let us take a look at how these powerful brands have creatively captured the essence of Navratri, utilizing compelling narratives and humor in the best Navratri Ad Campaigns 2025.
List of Navratri Ad Campaigns That Stole the Spotlight
Get ready to glow this Navratri! Myntra Beauty has everything you need, from a flawless base to the perfect festive pop of colour, so you can shine while twirling through garba nights and celebrations.
Plus, don’t miss out on up to 60% off on your favourite beauty brands, starting 20th September. It’s the perfect time to grab all your festive makeup and skincare essentials without breaking the bank.
The wait is over! Inspired by the strength and grace of Maa Durga, Senco Gold & Diamonds returns this festive season with the Aparupa collection. This collection beautifully blends heritage craftsmanship with modern design, offering jewellery that’s perfect for festive gatherings, garba nights, or gifting. Each piece allows you to dress, dazzle, and celebrate the season with confidence, elegance, and unmatched splendour.
This Ashtami, Tata CLiQ Fashion reminds us that festivals are about coming together, making memories, and celebrating with a smile. With the tagline “When tradition shines bright, it is truly Amar Pujo, Amar CLiQ”, the brand beautifully blends cultural reverence with the excitement of festive shopping. To make the experience even more special, Tata CLiQ is offering Flat 15% off with code TRINA15, encouraging customers to celebrate in style within their preferred budget.
Shoppers Stop brings maximum festive flair this season, turning every Pujo celebration into a style statement. From playful giggles to show-stopping festive looks, shoppers can explore over 500 premium brands to add sparkle to their celebrations.
Whether you prefer shopping in-store or via the app, Shoppers Stop makes it easy to find the perfect outfits, accessories, and festive essentials for family gatherings, garba nights, and Pujo festivities.
The sound of Agamoni signals the start of celebration, and this Navratri, it’s all about draping yourself in sparkle and joy. With festive outfits and accessories that capture the spirit of the season, shoppers can add elegance and fun to every garba night or family gathering. Moreover, to make the celebrations even brighter, the brand offers 15% off your next order with code CELEBRATE15, making it easy to shine without splurging.
When it comes to celebrating Navratri, it’s all about PALMONAS. The brand brings elegance, joy, and a touch of luxury to every festive moment. With their festive tagline, #FestiveShineWithPalmonas, the brand perfectly captures the spirit of the season, making jewellery not just an accessory but a way to celebrate every joyous moment with style and confidence.
This Navratri, Purplle is making beauty affordable and fun with their festive haul. From skincare and haircare to full-face festive makeup, everything you need to glow during the nine nights is just a click away.
The campaign highlights 9 amazing deals across price points, INR 49, INR 59, INR 69, INR 79, INR 89, and bigger savings at INR 99, INR 199, and INR 299 stores. On top of that, shoppers can enjoy up to 75% off on popular beauty brands, making it the perfect time to stock up without breaking the bank.
Flipkart’s Big Billion Days 2025 campaign comes alive with a quirky and magical twist, showing how even the simplest purchases, like a phone, a phone cover, or a dress, can transform your life. The ad is styled as a modern fairy tale, featuring a star-studded cast with familiar faces and surprise cameos, keeping audiences hooked from the first frame to the last.
The tagline “Kuch Bhi Ho Sakta Hai” shows the true spirit of Big Billion Days, full of surprises and unbeatable deals. From mega discounts on smartphones and fashion to surprise offers across categories, Flipkart positions its sale not just as a shopping event but as an experience of wonder and excitement.
Amazon India is building excitement this festive season with the much-awaited Great Indian Festival, starting 23rd September. The teaser campaign, “Tyohaar Nayi Khushiyon Ka,” encourages customers to add their favourites to the cart now and be ready to grab the best deals once the sale goes live.
The brand is rolling out massive offers, with 50–80% off on fashion and beauty brands and up to 80% off on kitchen and home products, plus an extra 10% cashback, ensuring that shoppers step into the festivities in style.
This Durga Puja, BIBA invites everyone to embrace the divine and celebrate in style with its signature festive reds. The collection combines traditional charm with contemporary flair, offering outfits that are perfect for puja rituals, family gatherings, and garba nights.
Shoppers can explore the festive collection to pick their favourites and make every moment of the celebration vibrant and memorable. With stores ready to welcome customers, BIBA ensures that the joy of Durga Puja is just a visit away.
Conclusion
Navratri campaigns in 2025 showed that the best marketing is about more than sales; it’s about celebrating culture and creating real connections. The brands that stood out were the ones that blended festive emotions with creativity, leaving a mark long after the celebrations ended. From heartfelt storytelling to irresistible festive offers, each campaign proved that when tradition meets innovation, audiences don’t just notice, they remember. And in a season built on joy and togetherness, that lasting connection is the real win for any brand.
Which brands launched the best Navratri campaigns?
Top brands like Myntra Beauty, Senco Gold & Diamonds, Tata CLiQ, Shoppers Stop, GIVA, Palmonas, Purplle, Flipkart, Amazon, and BIBA stole the spotlight with their innovative Navratri ad campaigns.
What were some major festive sales during Navratri?
Flipkart Big Billion Days and Amazon Great Indian Festival were the biggest festive sales. Flipkart promoted “Kuch Bhi Ho Sakta Hai” with magical storytelling, while Amazon highlighted “Tyohaar Nayi Khushiyon Ka” with 50–80% discounts across categories.
Established in Ahmedabad with the goal of filling a gap in Gujarat’s startup ecosystem, DevX has quickly become a leader in the coworking and accelerator space. With a mission to empower startups and entrepreneurs through purpose-built workspaces, they’ve created an environment where collaboration and growth thrive.
Their approach combines innovative technology, curated office solutions, and a deep commitment to creating sustainable growth paths for the businesses they host. DevX offers a unique value proposition through strategic partnerships, a technology-driven operational model, and an expanding network of coworking centers designed to meet the evolving needs of startups and established companies alike.
In this Startuptalky, we will learn more about DevX’s success story, its founders, business model, innovative revenue models, growth, challenges, investments, strategic partnerships, and how they are reshaping the future of coworking in India and beyond.
DevX is a leading coworking space provider in India, offering a wide range of workspaces, including coworking spaces, managed offices, serviced offices, conference halls, and meeting rooms. In addition to workspaces, DevX actively supports startups through the DevX Venture Fund and accelerator program.
At DevX, their passion lies in helping startups and businesses unlock their full potential. They are more than just a workspace provider—they are a thriving community of innovators, entrepreneurs, and game-changers.
With over 25 centers in 10+ cities across India, DevX offers a variety of flexible workspaces tailored to fit diverse business needs. Whether it’s coworking spaces or managed offices, their state-of-the-art facilities are designed to spark collaboration, creativity, and productivity—creating the ideal environment for businesses to flourish.
Beyond offering workspaces, DevX is deeply committed to nurturing startups through its DevX Venture Fund. Their accelerator program equips early-stage startups with funding, mentorship, and the necessary resources for success, reflecting their belief that, together, they can shape a brighter future for all.
DevX – Industry
India’s coworking market has now surpassed 13 million square feet and continues to expand. While major cities like Delhi-NCR, Mumbai, Bangalore, and Chennai remain key players, coworking spaces are also gaining traction in tier 2 and tier 3 cities, signaling that coworking is no longer confined to metropolitan hubs.
This surge can largely be attributed to the increasing demand for flexible work setups, as remote work became commonplace. Both large and small businesses have embraced coworking spaces for the agility they provide without the long-term commitment of traditional leases. India’s coworking space market is projected to reach a size of $2,842.2 million by 2030, growing at a Compound Annual Growth Rate (CAGR) of 20.6% from 2024 to 2030. This rapid expansion reflects the increasing demand for flexible workspace solutions across the country, driven by shifts in work culture and the rise of hybrid and remote work models.
DevX – Founders and Team
Rushit Shah
Rushit Shah – Co-founder and Chief Engagement Office. DevX
Rushit Shah is the Co-Founder and Chief Engagement Officer of DevX.
Rushit Shah, based in Ahmedabad, India, brings over seven years of hands-on experience in the IT industry, with a strong focus on Network Infrastructure Management. His deep understanding of technology and digital transformation has fueled his drive to deliver innovative solutions within the Commercial Real Estate (CRE) industry.
Currently serving as Co-Founder and Chief Engagement Officer at Dev Accelerator (DevX), Gujarat’s largest coworking space provider, Rushit oversees key departments including Purchase, Admin, Legal, and Network. His role involves building and managing strategic relationships with vendors, builders, and clients, ensuring efficient and productive operational solutions.
Mr. Shah also co-founded TRAZO EdTech LLP and previously held positions at XDuce Infotech Private Limited – India and The Gujarat State Co-Op. Bank Ltd. His professional journey is complemented by a Bachelor’s degree in Information Technology from U.V. Patel College of Engineering (2008-2012). With a versatile skill set covering areas like ATM networks, MySQL, client relations, IT financial management, and C programming, Rushit has cultivated expertise in client relationship management, negotiation, and strategic partnerships.
As a leader in the coworking space sector, Mr. Shah is committed to establishing DevX as a pioneering brand in the office space industry, fostering the growth of startups and supporting their development with cutting-edge infrastructure.
Parth Shah
Parth Shah – Co-founder and Chairman of the Board, DevX
Parth Shah is the Co-Founder and Chairman of the Board.
Parth Shah is a dynamic entrepreneur and Co-Founder at DevX, as well as the Founder of TRAZO EdTech. With over a decade of experience in operations, Parth has developed a reputation as a go-getter, passionate about transforming the commercial real estate industry with innovative and disruptive office space solutions.
He holds a BBA in Finance from V.M. Patel College of Management and an MBA in Marketing from A.M. Patel Institute of Computer Studies. Parth began his career as a soft skills trainer before transitioning into roles that focused on streamlining and automating hiring processes for enterprises. His early experiences shaped his ability to identify opportunities, which led to the successful founding of two startups.
As the Co-Founder and COO of DevX, Parth plays a pivotal role in the coworking and managed office space solutions sector. He also heads one of DevX’s verticals, Phi Designs, where he oversees the planning and execution of interior designs for new coworking spaces and manages offices. In addition to his work in space design, Parth is actively involved in digital marketing and operations for DevX.
A serial entrepreneur with a keen eye for startups, Parth is also an investor who, along with his co-founders, supports the growth of tech startups by helping them streamline their processes and scale efficiently. His commitment to innovation and his extensive industry knowledge make him a valuable mentor and leader in the coworking space industry.
Umesh Uttamchandani
Umesh Uttamchandani – Co-founder and Chief Growth Manager, DevX
Umesh Uttamchandani is the Co-Founder and Chief Growth Manager of DevX.
Umesh Uttamchandani, with nearly a decade of experience in the IT and Real Estate industries, is a strategic thinker with a passion for marketing, sales, and entrepreneurship. As the Co-founder and Chief Growth Officer at Dev Accelerator (DevX), Umesh focuses on strengthening strategic partnerships, crafting long-term growth strategies, and leading the panel responsible for curating technology startups and SMEs for DevX’s accelerator program. He also serves as a board member and mentor for several portfolio ventures in SaaS, mobility, cloud kitchens, media tech, and lending.
Umesh takes pride in co-owning Gujarat’s largest coworking space, where his role revolves around sourcing, negotiating, and onboarding strategic partners. He prioritizes collaborations with like-minded organizations to ensure that DevX and its portfolio companies commercialize high-value products and services that generate strong bottom-line benefits for both the company and its clients.
Before launching DevX, Umesh worked as a marketing and sales consultant for a century-old manufacturing firm in Barnsley, UK, where his critical thinking and communication skills helped him devise effective strategies and communicate them to the management team. Beyond his role at DevX, Umesh has been an active investor and mentor to many startups, guiding them from the ideation stage to growth, ensuring they gain the necessary momentum for success.
DevX – Startup Story
The founders of DevX were inspired to create the platform after recognizing a gap in Gujarat’s startup ecosystem. In 2017, three friends—Umesh Uttamchandani, Parth Shah, and Rushit Shah—identified the need for a space that could nurture and support startups in their home state. With over three decades of collective experience working in IT companies, they decided to establish something transformative in Ahmedabad, their hometown.
They all shared a common vision: Gujarat was lagging in providing a vibrant startup ecosystem that could serve as a launchpad for new ventures. This realization drove them to create DevX to foster innovation and provide the resources and environment that startups need to grow and thrive in the state.
The mission of DevX revolves around empowering people and businesses with the right tools, spaces, and infrastructure to enable them to perform their most meaningful work. DevX is dedicated to fostering an environment that nurtures innovation, collaboration, and productivity, ensuring that the businesses and startups they support have the foundation they need for sustained success. Their Managed Office Spaces are thoughtfully designed to promote both productivity and the well-being of employees, recognizing that people are at the heart of business growth.
Vision
DevX values a client-centric approach, placing their clients’ needs, fears, and motivations at the center of their operations. They are committed to understanding and addressing these concerns, ensuring that their clients feel supported every step of the way.
At DevX, strong opinions are encouraged, but they are balanced with flexibility. The team believes in fostering a culture of open communication and experimentation, where differing perspectives are valued and innovation thrives.
Action is another core value of DevX. They maintain a bias toward action, encouraging businesses to take steps forward and find a balance between thoughtful analysis and decisive movement.
Continuous learning and curiosity are fundamental to DevX’s culture. They believe that comfort leads to stagnation, so they constantly seek out sustainable trends and proven strategies to foster growth for both themselves and the businesses they support.
DevX – Name, Tagline and Logo
DevX Logo
The logo for DevX is thoughtfully designed to reflect the brand’s core values, blending mathematics with creativity. Featuring the brand name with a strong emphasis on the “X,” it communicates a commitment to rigorous logic while encouraging innovative thinking. The gradient of green and white enhances this message, symbolizing growth and clarity. This minimalist design not only makes the logo visually appealing but also helps DevX stand out in the competitive global online market. Its clean lines and distinctive color palette position the brand as a modern and forward-thinking entity in its industry.
DevX – Business Model
DevX is a dynamic business that specializes in providing comprehensive workspaces and support tailored for startups. Its business model revolves around several key pillars:
Workspaces: DevX offers a diverse range of workspaces, including coworking spaces, managed offices, serviced offices, conference halls, and meeting rooms, catering to the unique needs of individuals and businesses.
Startup Support: Through its DevX Venture Fund and accelerator program, the company provides essential funding, mentorship, and resources for early-stage companies, fostering innovation and growth in the startup ecosystem.
Community: DevX cultivates a vibrant community of innovators, entrepreneurs, and game-changers, creating an environment that encourages collaboration and networking.
Proactive Support: The company is dedicated to offering proactive support, ensuring seamless operations and enhanced functionality of the workspaces.
DevX – Revenue Model
DevX employs a diversified revenue model to support both its coworking space operations and partnerships with property owners, enhancing profitability for landlords while maximizing its own business reach. Their revenue model comprises two primary streams: a revenue share model for landlords and operational revenue from coworking services.
Revenue Share Model
Through their revenue share model, DevX provides landlords with an 18% higher return on their properties by optimizing occupancy and managing daily operations. In this model, landlords benefit from guaranteed monthly management fees while DevX oversees the daily responsibilities, allowing landlords to focus on growing their broader business.
Management Contract
Under DevX’s management contract option, property owners receive guaranteed monthly management fees while DevX handles every operational detail, from tenant services to facility management, ensuring seamless and efficient property management.
Increased Capital Appreciation
Properties hosting DevX centers experience a significant increase in both rental and market value—up to 30% on average. This value boost is not limited to the occupied spaces alone but extends to surrounding properties as well, providing landlords with increased capital appreciation over time.
Maximized Rental Yields
DevX’s coworking model offers higher rental yields compared to traditional leasing arrangements. High occupancy rates contribute to consistent rental income, helping property owners achieve greater returns.
Rapid Occupancy in Vibrant Workspaces
DevX’s dynamic coworking spaces are designed for quick occupancy, ensuring that spaces are filled swiftly and tenants often opt for extended tenancies, which increases property security and provides more predictable returns for landlords.
Pan-India Presence
With a rapidly growing presence across India, DevX consolidates revenue from multiple centers, enabling clients to establish mandates and secure workspace across various cities. This expansive reach not only benefits DevX but also gives property owners the advantage of consistent occupancy in prime markets across the nation.
DevX – Challenges Faced
A central focus for DevX’s expansion is its entry into Tier II cities, where coworking is still an emerging concept. In these regions, entrepreneurs often perceive coworking spaces as lacking in privacy and security, assuming they provide open spaces with little individual control or confidentiality. Overcoming this perception and educating the local business community about the true advantages of coworking is a challenge for DevX in every new market.
To address this, DevX published a report titled “A Guide to Choosing the Right Coworking Space,“ aimed at dispelling common misconceptions. This proprietary report is shared with local entrepreneurs to build awareness of coworking benefits, covering essential topics and breaking down prevalent myths.
During the initial expansion phases, DevX also faced the challenge of streamlining client onboarding and operational processes. With a clear vision to integrate hospitality and technology at its core, DevX prioritized building a strong team with expertise in both fields. This team would ensure smooth, customer-centered operations. Although DevX’s first center was launched with 100% occupancy, they waited a year before opening the second. This deliberate gap allowed DevX to refine its technology, processes, product offerings, and team structure to create a stable foundation for growth.
Over time, DevX has developed robust technology solutions that support all facets of its operation. These tools aid not only customers but also extend to asset management, housekeeping, and vendor coordination, resulting in high transparency and streamlined operations across departments. This strong infrastructure ensures consistent and high-quality service as DevX expands into new markets.
DevX has successfully secured $7 million in its third funding round, split between equity and debt, attracting investments from banks, NBFCs, family offices, and high-net-worth individuals.
J P Tobacco Products, Siddhant Investments, Parbhudas Kishoredas Tobacco Products, Urmin Group. Angel Investors:Utsav Shah, Anshul Shah
Oct 19, 2021
Seed
$266.0K
Urmin Group
May 01, 2019
Seed
$1.0M
–
Jun 1, 2019
Seed
$1,000,000
–
DevX – Investments
DevX, with a keen focus on innovation and growth, has invested in a range of tech-driven startups across domains like SaaS, media tech, cloud kitchens, and mobility, empowering emerging businesses with capital, mentorship, and access to resources that drive scalable impact.
Date
Name
Stage
Amount
Jul 19, 2023
BabyOrgano
Seed
$865K
–
LEO 1
Series B
$41.7 million
–
Spinny
Series E
$520 million
March 16, 2022
Growfitter
Seed
$3.76 million
Sep 06, 2021
SupplyNote
Series A
$6.4 million
Jun 22, 2021
Plutomen
Seed
$592K
Dec 20, 2021
Flo Mobility
Seed
$526K
Nov 24, 2021
Intents Mobi
Seed
$1.83 milloion
March 15, 2023
Finsire
Seed
$1.3 million
March 23,2021
ExtraaEdge
Seed
$3.56 million
DevX – Mergers and Acquisitions
Through strategic acquisitions and mergers, DevX strengthens its foothold in the coworking and managed office space industry, enhancing its service offerings and accelerating growth in both domestic and international markets.
Date
Name
Amount
Stage
–
Bigspoon
$15.5M
–
–
The Healthy Company
$726K
Seed
Feb 04, 2022
Brands.live
$1M
Seed
Aug 26, 2021
The Gourmet Jar
$267K
Seed
DevX – IPO
Dev Accelerator (DevX) came out with an IPO in September 2025 to raise about INR 143 crore through a fresh issue at a price band of INR 56–61 per share. The issue, open from September 10–12, saw strong demand with ~64× overall subscription, driven by high interest in the co-working and managed office sector. The company operates 28 centres across 11 cities with over 14,000 seats, reporting revenue growth from INR 110.7 crore in FY24 to INR 178.9 crore in FY25 and a PAT of ~INR 1.7 crore. Shares listed on September 17 at INR 61, flat against the issue price.
DevX – Growth
DevX, a coworking space and startup accelerator, is on a path to growth through a blend of strategic expansion, financial gains, and valuable partnerships. Here’s a look at DevX’s current trajectory:
Expansion
DevX’s growth strategy involves launching new coworking spaces in key Indian cities, including Mumbai, Gurugram, Noida, Pune, and Chennai. The company is also eyeing international markets, with plans to expand into locations like Singapore and Dubai. This expansion will allow DevX to establish a broader footprint and cater to diverse client bases.
Profitability
The company reported a financial turnaround in the 2023–2024 fiscal year, achieving a profit after tax (PAT) of INR 43.7 lakh—a substantial shift from the INR 12.8 crore loss of the previous fiscal year. This achievement reflects a steady rise in revenue, which grew 55% year-over-year to INR 108.08 crore in FY24 from INR 69.91 crore in FY23.
Strategic Partnerships
Strategic collaborations are a cornerstone of DevX’s growth. The company has formed alliances with high-net-worth individuals (HNIs), banks, and non-banking financial companies (NBFCs) to support its operational scale-up. Through these partnerships, DevX also offers resources to startups, helping them grow within the coworking ecosystem.
Fundraising
DevX recently raised $7 million in a funding round supported by both new and existing investors, with a split of equity and debt financing sourced from banks, NBFCs, family offices, and HNIs. These funds will accelerate DevX’s domestic and international expansion, asset acquisition, and the development of a proprietary proptech solution. Currently, DevX is active in 11 cities across India and filed its Draft Red Herring Prospectus (DRHP) on September 30, with plans to go public in the upcoming year.
Through these initiatives, DevX is set on a path to reinforce its role as a significant player in India’s coworking and managed office space industry, with a strong foundation for sustainable growth and innovation.
DevX – Financials
DevX has scaled revenue rapidly from FY22 to FY24, while expenses rose sharply. Despite losses in earlier years, FY24 marked a turnaround with a marginal profit.
Particulars
FY24
FY23
FY22
Revenue from Operations
INR 110.2 crore
INR 70.6 crore
INR 23.7 crore
Total Expenses
INR 120.3 crore
INR 87.4 crore
INR 32.4 crore
Net Profit/Loss
INR 0.4 crore (Profit)
(INR 12.9 crore) (Loss)
(INR 7.3 crore) (Loss)
Revenue nearly doubled in two years, but rising expenses kept margins under pressure. Still, FY24 saw a small profit compared to losses earlier.
DevX Financials
DevX Revenue:
Revenue showed strong growth in FY24, driven by operations, supported by a modest increase in other income.
Particulars
FY24
FY23
Revenue from Operations
INR 110.2 crore
INR 70.6 crore
Other Income
INR 1.4 crore
INR 0.8 crore
Total Revenue
INR 111.6 crore
INR 71.4 crore
Total revenue grew by INR 40.2 crore (≈56%) in FY24 compared to FY23, led mainly by core operations.
DevX Expenses:
Expenses rose significantly in FY24, mainly from finance costs and depreciation, even as material costs declined.
Particulars
FY24
FY23
Operational Costs (Materials Consumed)
INR 20.2 crore
INR 23.8 crore
Employee Benefit Expense
INR 8.0 crore
INR 6.7 crore
Marketing/Admin/Other Expenses
INR 16.0 crore
INR 9.6 crore
Finance Costs
INR 31.0 crore
INR 17.3 crore
Depreciation
INR 45.0 crore
INR 30.1 crore
Total Expenses
INR 120.3 crore
INR 87.4 crore
Total expenses increased by INR 32.9 crore in FY24 compared to FY23, with notable rises in depreciation (+INR 14.9 crore) and finance costs (+INR 13.7 crore).
DevX Profit/Loss:
Losses narrowed in FY23 and turned to a marginal profit in FY24 due to strong revenue growth.
Particulars
FY24
FY23
Gross Profit
(INR 8.7 crore) (Loss)
(INR 16.1 crore) (Loss)
Operating Profit
(INR 8.7 crore) (Loss)
(INR 16.1 crore) (Loss)
Net Profit/Loss
INR 0.4 crore (Profit)
(INR 12.9 crore) (Loss)
Net profit swung from a loss of INR 12.9 crore in FY23 to a small profit of INR 0.4 crore in FY24, reflecting improved operating leverage.
Quick Comparative Insights (FY24 vs FY23)
Revenue: Rose ~56% (INR 111.6 crore vs INR 71.4 crore).
Expenses: Increased ~38% (INR 120.3 crore vs INR 87.4 crore), driven by depreciation and finance costs.
Profitability: Net loss of INR 12.9 crore in FY23 turned into a profit of INR 0.4 crore in FY24.
Business Implication: Strong growth momentum in operations is evident, but rising fixed costs, such as depreciation and finance charges, remain critical risks to sustainable profits.
DevX has actively leveraged social media campaigns to drive social impact alongside brand engagement. In a standout initiative, their Diwali campaign partnered with the Swa Sarjan Foundation to distribute solar-powered bulbs to underserved communities, emphasizing the company’s commitment to sustainable development and community welfare. Through this campaign, DevX not only spread festive joy but also spotlighted the importance of renewable energy.
By combining social media outreach with impactful partnerships, DevX uses its platform to engage audiences meaningfully, demonstrating the value of corporate social responsibility in its brand ethos.
DevX – Competitors
DevX faces competition from several established coworking and flexible workspace providers in India, each with unique offerings:
Awfis: Known for customizable workspaces, Awfis provides flexible lease terms allowing users to choose spaces for as little as an hour or a year, catering to both short- and long-term workspace needs.
91Springboard: This early pioneer in the coworking industry is also recognized as an incubation center under the Government of India’s Atal Innovation Mission, fostering innovation through a strong community approach.
WeWork: A well-known global coworking brand with locations across India, WeWork offers a variety of amenities and workspace options with a reputation for design and community networking.
CoWrks: With a strong presence in India, CoWrks is known for its premium coworking spaces and community-focused events.
Innov8: Innov8 provides well-designed workspaces that cater to startups and professionals, focusing on aesthetic interiors and high-quality facilities.
Regus: Part of the global IWG network, Regus provides fully-serviced offices and meeting spaces with flexible terms, ideal for corporates and remote teams.
Workafella: Offers coworking spaces with full-service amenities across India, targeting growing businesses and entrepreneurs with an emphasis on professional settings.
Cowork by Investopad: Known for its innovation-focused spaces, this coworking option supports tech-driven startups and entrepreneurs with a vibrant work environment.
Smartworks: Specializes in managed office spaces with a tech-driven approach, targeting enterprises looking for scalable office solutions with a focus on productivity and employee experience.
DevX – Future Plans
DevX has ambitious plans for future growth, aiming to expand its coworking spaces, enhance infrastructure, integrate advanced technology, and reinforce corporate development initiatives:
Expansion: DevX is set to broaden its footprint in major cities across India, including Mumbai, Gurugram, Noida, Pune, Chennai, GIFT City, Ahmedabad, Vadodara, Rajkot, Surat, Goa, and Jaipur. This expansion is part of DevX’s strategy to cater to the growing demand for coworking spaces and reach new markets.
Infrastructure Development: A significant portion of the funds from DevX’s planned IPO will be allocated to infrastructure. They intend to invest Rs 68.95 crore in fit-outs for new centers and for required security deposits, ensuring each location meets its standards for quality and functionality.
Technology Investment: DevX also plans to enhance operational efficiency by investing in technology. Funds from the IPO will support DevX in implementing tech-driven solutions for workspace management, boosting productivity, and improving the experience for tenants and staff alike.
General Corporate Purposes: In addition to expansion and technology, DevX plans to channel IPO funds into strategic initiatives, marketing efforts, brand-building, and managing lease liabilities, further solidifying its position in the market.
These plans highlight DevX’s commitment to scaling its business across India, enhancing its offerings through technology, and establishing a strong corporate presence.
FAQs
What is DevX?
DevX is an Indian co-working and office solutions provider, founded in 2017. It offers shared workspaces, private offices, and customized setups for startups, freelancers, and companies.
Who are the owners of DevX?
DevX founders include Rushit Shah, Parth Shah, and Umesh Uttamchandani.
Who are the main competitors of DevX?
Awfis, 91Springboard, WeWork, CoWrks, Innov8, Regus, and Workafella are a few main competitors of DevX.
Which is DevX parent company?
DevX’s parent company is Dev Accelerator Pvt. Ltd., commonly known as DevX itself.
Pratyusha Srivastava
