According to media reports, used vehicle marketplace CARS24 is currently laying off an additional 120 workers from its non-core verticals as part of a reorganisation exercise, more than a month after it let off 200 workers.
The non-core verticals of the Delhi NCR-based startup are being shut down or scaled down. According to the reports, it is doing this by closing its business-to-business automotive replacement parts platform, “Inspare”, which will cause 80 workers to lose their employment.
The firm has requested staff members from Inspare’s operations, sales, procurement, catalogue, and other teams to find new employment opportunities after informing them of its decision to shut down operations.
Vikram Chopra Announcing the Shut-Down of Inspare on LikedIn
According to a LinkedIn post by CARS24 founder Vikram Chopra, Inspare, which was in the “pilot” stage, has been shut down. He did not, however, reveal how many workers were affected by this choice. According to Chopra’s tweet, the business believed the market was prepared for change. And the more it promoted adoption, the more obvious it was that it wasn’t.
A severance payout is being offered to the affected employees in accordance with their notice period. According to a media source, 40 workers at the startup’s “FourDoor” auto repair and maintenance platform have also been let go.
Questions concerning the layoffs at FourDoor were also not answered by CARS24. According to one of the sources, the reorganisation effort entails laying off more than 120 workers from CARS24’s non-core business sectors.
Notably, Chopra stated earlier this month in another LinkedIn post that customers would not be able to access two of CARS24’s platforms: FourDoor and the on-demand driver hiring tool AutoPilot. Chopra said these services are still crucial to the brand’s main transaction engine when it made the announcement.
However, the business is reducing its customer-facing operations and strengthening its support for the remaining business units. He went on to say that CARS24 was in discussions with the workers in these verticals about giving them other positions based on their “skills and ambitions”.
Due to their difficulties turning a profit, the startup is shutting down activities in these verticals. According to one of the individuals, companies that are not making money are being shut down.
Financial Outlook of CARS24
Chopra, Ruchit Agarwal, Gajendra Jangid, and Mehul Agrawal founded CARS24, an online marketplace for used car sales and purchases, in 2015. The IPO-bound business also entered the new car industry earlier this year.
200 workers were let go by the startup last month as part of a reorganisation that started as soon as it bought the domestic auto forum Team-BHP. The Singaporean parent company of the Delhi NCR-based startup invested INR 250 Cr in CARS24 last year.
Since its founding, the company has raised over $1.3 billion from investors like SoftBank, Alpha Wave Global, and Commercial Bank of Dubai, among others. In its most recent funding round, CARS24 was valued at $3.2 billion.
According to several media reports, Unacademy co-founders Gaurav Munjal and Roman Saini intend to leave their operational positions in the next two to three months.
The pair is presently in advanced talks with investors and the board to spin off Unacademy’s language learning software, Airlearn, as a distinct business. The offline business is anticipated to be taken over by Sumit Jain, the founder of Graphy, who was promoted to partner at Unacademy following the departure of co-founder Hemesh Singh last year.
The selection of a new leadership team to oversee Unacademy’s main online operations is ongoing. According to reports, Munjal formally informed the board of his intention to stand down in March of this year, having been considering doing so since last year.
Restructuring the Entire Operations Team
Munjal has remained on till now because, according to a media report, the board requested that he first lower the company’s burn. The offline business will be taken over by co-founder Sumit Jain, according to a succession plan, while Unacademy’s online activities will be run by a new leadership team.
After Hemesh Singh left his job as CTO of Unacademy and took an advising role, Jain took over as partner. He co-founded Graphy, Unacademy’s SaaS platform for educators and creators, after joining the firm in April 2020.
After Singh left, he was promoted to the board. After the Airlearn spin-off structure is established, Munjal and Saini are anticipated to depart Unacademy. The board has been presented with a plan by the co-founder that would enable him to run Airlearn on his own.
According to a person with knowledge of the discussions, “There is over 90% alignment on the matter, with some final negotiations remaining around equity and structure.” It has also been reported that Munjal has granted current Unacademy investors the opportunity to contribute to the new business after the spin-off is completed.
Airlearn Gaining Popularity
Meanwhile, Airlearn is expanding quickly and is thought to be Munjal’s next big venture. According to Munjal, who shared the company’s update on social media last month, the language-learning software, which competes with Duolingo, has 70,000 daily active users and around 3 lakh monthly users.
It also has 17,500 paying members and generates $2 million in recurring revenue annually. Spanish and French are the most often used languages, and the bulk of their users are from the US and the UK. In FY24, Unacademy’s sales dropped 7.4% to INR 839 crore, while its net losses sharply decreased by 62.4% to INR 631 crore.
According to Unacademy’s most recent report, the company’s main cash burn has decreased from over INR 1,000 crore per year three years ago to less than INR 200 crore this FY25. According to the co-founder, the company is currently in a “default alive” status with INR 1,250 crore in the bank.
He also mentioned that Graphy and PrepLadder, two of Unacademy’s enterprises, are making money each month.
The National Payments Corporation of India (NPCI) has announced a significant update to the Unified Payments Interface (UPI) system, part of a broad overhaul that would affect thousands of digital payment customers nationwide.
All UPI-based applications, including Google Pay, PhonePe, and Paytm, will stop using contact-saved identities and nicknames during transactions and instead only show the recipient’s official bank account name as of June 30, 2025.
Currently, the beneficiary’s name that appears when users initiate a UPI payment is frequently the one that is stored in their personal contact list. Despite its convenience, this approach has been shown to be open to abuse by hackers who use false names to hide their identities.
Authorities claim that the impending change is an explicit effort to reduce this kind of fraud and improve transaction transparency.
Bringing All Parameters Under One Umbrella
Users can now send money using a cellphone number, UPI ID, or QR code scan, and the name that appears on the screen before payment confirmation will only be the name associated with the recipient’s bank account.
Both Person to Person (P2P) and Person to Merchant (P2M) transactions will be subject to this modification in the same standardised manner. The process for making UPI payments is still the same; users can still start transactions with QR codes, UPI handles, or mobile numbers.
Before users press “Send”, however, they will see a completely different name—just the official account name—instead of “Raju Grocery”, “Mummy”, or “Cab Driver Singh”. The action is a component of NPCI’s larger initiatives to counteract the growing number of frauds involving UPI, many of which rely on identity confusion or impersonation.
The Move Tends to Bring Lot of Benefits
It is common for criminals to use well-known or reliable names to entice victims. Such fraud is made more difficult by substituting confirmed bank names for user-saved nicknames. It will now be easier for users to verify the recipient’s identification before approving payment.
There may be a significant drop in incorrect transfers to the incorrect contact, particularly among those with similar names. Users of digital payments are advised to take some simple safety measures as the shift draws closer.
Before making a payment, carefully check the name that is presented. Do not proceed if anything appears strange or suspicious. Contact customer service at your bank or payment app right away if you see any strange activity.
The UPI ecosystem in India has expanded rapidly, with over 1300 crore transactions occurring each month. However, vulnerability comes along with scale. As the country moves closer to a cashless economy, the NPCI’s most recent directive is viewed as a crucial course correction to protect digital trust.
Simply Nam, India’s pioneering celebrity makeup artist-owned beauty brand, founded by renowned celebrity makeup artist Namrata Soni and serial entrepreneur Hanna Stromgren Khan, today announced a strategic fundraise led by the Bhaane Group. The investment marks a pivotal milestone in the brand’s journey as it gears up to expand its product portfolio, scale operations, and more than double its Monthly Recurring Revenue (MRR) over the next year.
The brand has witnessed exponential growth, doubling its customer base in the last year with a 40% returning customer rate, and maintaining an average MRR of INR 2 Crore. Simply Nam is scaling rapidly across digital and quick-commerce platforms, including Nykaa, Amazon, Myntra, Tira Beauty, Zepto and Blinkit.
Founded in 2020 by renowned makeup artist Namrata Soni, in collaboration with entrepreneur Hanna Strömgren Khan, co-founder of the Bozzil Group, Simply Nam was born out of a deep understanding of Indian women’s beauty needs—an insight shaped by Namrata’s 25+ years of experience working with both Indian and international clientele. The brand was also driven by the founder duo’s shared passion for creating high-quality, locally made beauty products that are accessible and affordable for Indian consumers, without compromising on performance or innovation.
Simply Nam is more than just a makeup brand — it’s a reflection of my life’s work and a deep understanding of the beauty needs of Indian women,” said Namrata Soni, Co-founder of Simply Nam. “Having worked with Sonam for over 17 years, it’s incredibly meaningful to now build this brand alongside her and Anand — not only as close collaborators, but as people who genuinely believe in our vision and the quality we stand for. Their trust at such a pivotal stage fills me with renewed confidence, as Simply Nam continues to grow and earn the love and loyalty of our community.”
At its core, Simply Nam is India’s first celebrity makeup artist-owned beauty brand, ensuring professional-grade quality and expertise in every product. Rooted in a deep understanding of Indian skin tones, textures, and climates, all formulations are tailor-made from scratch in India—never sourced off-the-shelf like most local brands. Namrata works closely with various R&D partners to craft skincare-forward, vegan, and cruelty-free products that prioritize performance, comfort, and wearability across India’s diverse climate conditions. Simply Nam is committed to educating their consumers through expert-led content and offering premium packaging with accessible pricing, delivering a high-end, luxury experience at competitive, value-driven price points. Simply Nam represents a new era in Indian beauty: built on authenticity, innovation, and an unwavering commitment to quality made for Indian women, by Indian experts.
From its cult-favorite Ultimate Kajal (nearly 100,000 units sold in three months) to the Sweet Kisses Hydrating Lip Balm, featuring charms that went viral among A-list influencers, becoming a fan favorite, Simply Nam’s product line stands out for its innovation and commitment to quality. Other bestsellers include the Satin Soft Lip Cremes, Pixie Dust, Dawn To Dusk Eyeshadow Palette, and Magic Tinted Lip Oil.
This fundraise marks a pivotal and deeply meaningful milestone for us. From day one, Namrata and I have been driven by more than just the pursuit of raising capital—we were seeking a partner who truly believes in our vision: to build a best-in-class beauty brand, proudly rooted in India and driven by quality, innovation, and purpose, said Hanna Strömgren Khan, CEO and Co-Founder of Simply Nam. “With Bhaane Group, we’ve found that rare alignment. This strategic investment is a launchpad for what comes next. It will empower us to introduce even more thoughtful, high-performance products, scale our educational content, and expand our omnichannel footprint across the country. Most importantly, it strengthens our commitment to building a beauty brand that proudly celebrates Made-in-India excellence.’’
Anand S Ahuja, Co-founder & CEO of Bhaane Group, shared,“At Bhaane, we believe in empowering homegrown excellence and backing founders who are building for the future. Simply Nam represents the next chapter in clean, inclusive beauty for India, and we’re incredibly proud to support their journey as they scale new heights.”
Simply Nam’s recent recognitions include wins at the ELLE Beauty Awards 2023 and Grazia Indie Beauty Superstars 2024, with nominations at the upcoming Vogue Beauty & Wellness Awards 2025, highlighting its growing stature in India’s beauty industry.
With this strategic investment, Simply Nam aims to:
Expand its product portfolio with new, innovative launches
Deepen its educational content offerings
Strengthen omnichannel presence across India
Continue championing made-in-India excellence in beauty
This partnership extends beyond just capital—it’s a shared vision to build globally relevant, proudly Indian brands that inspire and empower. Together, Bhaane Group and Simply Nam aim to redefine what it means to lead with authenticity, creativity, and purpose in the beauty industry.
About Bhaane Group
Anand S Ahuja & Sonam A Kapoor are the founders of Bhaane Group, a specialised, forward-thinking boutique retail partner and a subsidiary of Shahi Exports-India’s largest apparel manufacturer. Bhaane Group partners with globally recognised brands including Nike, Converse, NBA, Amiri, and Topaz Detailing, and is committed to building a thriving ecosystem for fashion-forward consumers who value quiet elegance and meaningful consumption.
Rooted in a passion for design, street culture, and purposeful consumer experiences, Anand has been instrumental in introducing and scaling international brands in India. With a deep understanding of the global fashion landscape and an eye for cultural nuance, he has become a leading voice in the country’s contemporary retail space. His commitment to authenticity, innovation, and community-building continues to shape how a new generation engages with style and luxury.
About Simply Nam
Introducing Simply Nam, a premium beauty brand designed for the modern Indian woman, co-founded by celebrity makeup artist Namrata Soni in 2020. With over 20 years of experience under her belt, Namrata has used her extensive insights to create a brand that offers practical and affordable beauty solutions without compromising on quality.
About Bozzil Group
The Bozzil Group, co-founded by Hanna Strömgren Khan, is redefining India’s premium brand landscape through innovation and strategic collaborations with creators and educators. With a strong emphasis on design excellence, product quality, education, and a make-in-India focus, Bozzil has played a pivotal role in transforming the direct-to-consumer (D2C) space in India. The co-founding of brands such as Simply Nam by Namrata Soni and Leezu’s by Leeza Mangaldas is a testament to Bozzil’s commitment to building meaningful and high-impact brands.
Round also saw participation from Veloce Opportunities Fund, JITO, We Founder Circle, Sunicon Ventures Fund, Progrowth Ventures and Hyderabad Angels
Surat-based GROWiT is a soil-to-harvest agritech solutions startup with an India presence and ambition to scale across Africa and other emerging markets.
The funds raised will be strategically deployed towards GROWiT’s aggressive expansion plans, deepening its R&D capabilities, and strengthening its technology infrastructure
GROWiT has grown at 50 – 60% CAGR over the last three years. With this new round of funding, the company aims to accelerate its growth trajectory exponentially in the coming period
GROWiT has so far empowered over 2,25,000 farmers with innovative, sustainable, and affordable farming technologies
GVFL focuses on funding climate-tech, circular economy, and social impact startups,and so far has 125+ investments across major startup hubs in India.
Protective farming Agritech startup GROWiT India has raised $3 million in a Series A funding round led by GVFL, with participation from Veloce Opportunities Fund, JITO, We Founder Circle, Sunicon Ventures Fund, Progrowth Ventures and Hyderabad Angels. The funds raised will be directed towards GROWiT’s aggressive expansion plans, deepening its R&D capabilities, and strengthening its technology infrastructure to serve farmers more effectively.
With the current funding, GROWiT plans to improve domestic market penetration and expand into international markets by scaling exports to Africa and other emerging markets whilst continuing to innovate around sustainable, climate-resilient agriculture solutions that are affordable and accessible to smallholder farmers.
Mihir Joshi, Managing Director, GVFL, said, “Agriculture in India still lags behind in terms of technological advancements. GrowiT has a large innovation product portfolio and pan India distribution channel. They are helping farmers grow more and earn better by focusing on solving these key problems at an affordable cost and easy accessibility. They are making climate-friendly, sustainable farming methods more affordable and effective. As a fund, this is a key focus area for us and we see GROWiT as a strong player emerging in this segment.”
Saurabh Agarwal, Founder & CEO, GROWiT said, “With climate change emerging as a huge challenge in the agriculture sector, it is essential that we build resilience with the help of technology. Majority of India still depends on agriculture however the sector is still starved of technology due to it being inaccessible or too expensive. At GROWiT, our commitment is towards developing sustainable agriculture with optimization of productivity by making available affordable tools like India’s First Pocket-Friendly Soil Health Testing Device, which provides soil composition insights and crop recommendations tailored to soil types. GROWiT aims to transform agriculture by increasing yields, cutting input costs, and driving sustainable farming, positioning us as a comprehensive, one-stop solution for farmers.”
GROWiT has launched India’s First Pocket-Friendly Soil Testing Device in April 2025, which received an encouraging response from farmers and agri-partners. Other marquee products, including Mulch Films, Crop Covers, Weed Mats, and more, are designed to optimize crop protection and boost agricultural productivity while promoting sustainable practices.
With over 650+ on-ground franchise networks, their geographic footprint now covers 12 states and has over 2,25,000 farmers benefiting from their products and services.
GROWiT’s success is fuelled by a convergence of innovative technology, sustainable agricultural practices, and increasing awareness amongst farmers. As the farming community increasingly embraces modern methods, the demand for advanced protective solutions grows, as seen by regions that have integrated such technologies report yield improvements between 40 – 60% and in some cases even 100% yield increase has also been witnessed. The company’s extensive field engagement and research-backed approach ensure that its offerings are finely tuned to address the dynamic needs of today’s agriculture, setting a new benchmark in operational efficiency.
The Indian agritech market is projected to reach USD 30–35 billion by 2027. With over 120 million farmers and a push towards integrating technology in the sector, GROWiT is well-positioned to capitalize on this growth by offering innovative solutions that address the real challenges faced by farmers.
About GROWiT
GROWiT India Pvt Ltd, founded in 2020, is a pioneer agritech company providing Soil-to-Harvest solutions. With a strong presence across 12 states and a rapidly growing network of 650+ franchise stores, GROWiT has empowered over 225,000 farmers with innovative, sustainable, and affordable farming technologies. GROWiT aims to double India’s farm output by 2030 by empowering farmers with innovative, sustainable, and affordable solutions that increase productivity and promote climate-resilient agriculture.
About GVFL
GVFL (Gujarat Venture Finance Limited) is an Ahmedabad, Gujarat-based Venture Capital Fund primarily focused on funding climate-tech, circular economy, and social impact startups. With over 125 + total investments and 75 + successful exits, GVFL has been instrumental in nurturing and scaling innovative startups across various sectors. GVFL has a diverse portfolio, investing in sectors such as agritech, healthtech, fintech, deep tech, clean tech, defense tech, enterprise tech, and consumer brands.
National, May 27, 2025: As electric vehicles (EVs) gain momentum across India, Webber Electrocorp is emerging as a market leader in Battery Management Systems (BMS), a crucial technology influencing sustainable mobility in the future. The company’s latest trailblazing and industry-first venture, Webber Care Point, is transforming the EV service landscape through a tech-driven, scalable, and intelligent after-sales ecosystem. With a clear focus on closing critical service gaps, Webber Care Point is redefining post-sale experiences for individual users, fleet operators, and EV manufacturers alike.
As more people transition to electric mobility, one recurring challenge persists: access to dependable, EV-specific service. Traditional service centers often lack the expertise and equipment for specialized EV needs like battery health checks or advanced diagnostics, resulting in prolonged downtimes and disrupted operations. Many current systems are yet to fully integrate real-time tracking, preventive maintenance, and smart diagnostics—features essential for today’s connected EV users and OEMs.
Webber Care Point addresses these challenges through a robust, pan-India after-sales network backed by IoT, AI, and a digital-first service platform. From diagnostics and repairs to remote support and data analytics, Webber delivers a seamless experience across multiple EV brands and battery architectures. The dedicated mobile app enables users to book services and track reports, while OEMs benefit from a centralized dashboard with advanced customer support tools and remote battery monitoring.
Further strengthening its innovation-first approach, Webber has launched the WBMS-SWLT, a smart Battery Management System engineered for high-performance lithium-ion battery packs. Supporting 16-cell configurations and 48–60V platforms, this system features advanced fault detection, thermal runaway alerts, and high-side N-MOSFET control for secure operation. With onboard data logging, BLE and CAN support, and 120mA cell balancing, it complies fully with AIS-156 Phase II standards. Crucially, Webber Electrocorp is offering the WBMS-SWLT as a certified product currently unmatched in the market at this price point, bringing both reliability and affordability to EV stakeholders.
“At Webber Electrocorp, our mission has always been to create reliable, tech-forward solutions that are both scalable and sustainable,” says Mr. Mahinder Sehgl, Chief Business Officer, Webber Electro Corp. “Webber Care Point is building the core infrastructure of India’s evolving EV landscape. Our certified systems, real-time intelligence, and nationwide network are designed to keep India’s EV journey smooth, safe, and future-ready.”
What truly sets Webber Care Point apart is its standardization across diverse EV and battery types. Whether serving fleet operators or individual users, the platform ensures consistent quality through certified service hubs staffed with trained technicians. Predictive diagnostics and real-time health reports help reduce breakdowns and increase battery life, while flexible models like on-demand repairs, AMC plans, and OEM partnerships make the offering scalable across user segments.
Webber has a strong head start as India’s EV market continues to grow rapidly, with a projected growth rate of 49% through 2030. By 2027, over 3 million EVs, including two-wheelers, three-wheelers, and cars, are expected on Indian roads. This makes the demand for smart, tech-enabled after-sales service more urgent than ever. Webber Care Point is strategically positioned to meet this surge with its integrated services and rapid expansion strategy.
The platform’s pilot phase has already delivered strong early results. Operational hubs in Delhi NCR and Pune are collectively servicing over 300 monthly requests. Four battery manufacturers have integrated Webber’s certified BMS into their systems, and over 1,000 beta users are actively using the app. The service platform has earned a 4.8-star customer rating, highlighting trust, transparency, and consistent performance. Fleet operators have reported up to a 30% reduction in downtime thanks to Webber’s centralized diagnostics and real-time support capabilities.
Looking ahead, Webber Care Point’s growth roadmap is aggressive and focused. In its first phase, Webber will strengthen its footprint across high-demand EV regions such as Delhi NCR, Maharashtra, and key pilgrimage corridors in Uttarakhand and Himachal. By early 2026, as part of phase 2, it plans to scale aggressively with a nationwide rollout, setting up 100+ service hubs. Strategic OEM partnerships and white-label integrations will power this next wave of growth, positioning Webber as the go-to after-sales partner across India’s EV ecosystem. In Phase 3, Webber plans to penetrate Tier 2 and Tier 3 cities via its franchise model, supported by B2C marketing campaigns and app-driven user acquisition, aiming to onboard over 15,000 active customers.
With its combination of intelligent hardware, predictive software, and nationwide service capabilities, Webber Care Point, backed by Webber Electro Corp, is building the backbone of India’s EV future. As the electric revolution gathers pace, there’s an exclusive opportunity for those who want to play a more active role in this transformation. With plans to expand across the country, Webber welcomes individuals and businesses interested in exploring partnership possibilities as part of this exciting journey.
About Webber ElectroCorp Private Limited
Founded in 2019 by IIT Kharagpur alumnus Manuj Agrawal, Webber ElectroCorp Private Limited is a pioneering Indian company delivering fully indigenous EV subsystem solutions that meet and exceed global standards. With a corporate office in Gurgaon and an operational hub in Pune, Webber designs and manufactures advanced Battery Management Systems (BMS), Motor Controllers, and EV Chargers for a wide range of electric vehicles—from two-wheelers to commercial fleets. Built on a vision to reduce India’s dependency on imported EV components, the company has rapidly scaled through engineering excellence, product innovation, and a strong commitment to India’s clean mobility future.
Maxvolt Energy Crosses ₹100 Crore Benchmark, Achieves ₹107 Cr Revenue in FY 2024-25
Following a robustly successful 2023-24, when revenue grew 253% to ₹48.37 crore, with PAT standing at ₹5.21 crore, Maxvolt Energy Industries Limited, considered one of India’s fastest-growing players in lithium battery technology, achieved a new feat of crossing the ₹100 crore mark with ₹107 crores revenue in 2024-25. Second time in a row, the company has grown over 200%, indicating Maxvolt’s strategic expansion, innovative product offerings, and strong market positioning in India’s green energy transition.
The AIS 156-certified company has remained in a league of suitable solution providers for electric vehicles, ESS, and other categories like medical equipment and consumer electronics. Earlier this year, Maxvolt debuted on the National Stock Exchange (NSE) Emerge platform. On day one, its Initial Public Offering (IPO) witnessed an overwhelming subscription of 3.3 times, reflecting strong investor confidence in the company’s growth potential and leadership in clean energy solutions. Recently, Maxvolt received $1.5M in funding from VCs and HNIs.
On this occasion, Mr. Satendra Shukla, Chief Business Officer of Maxvolt Energy, stated, “Passing the ₹100 crore figure endorses our commitment to technological innovation, sustainability, and operational excellence. It is also a reflection of the trust customers and stakeholders bestow upon us in building the future of energy.”
Maxvolt’s growth story is backed by advanced R&D and a suite of proprietary technologies, including Active Balancer Technology, Superior Thermal Management Systems, and Intelligent Battery Control Mechanisms, to ensure that battery packs’ safety, efficiency, and life expectancy are achieved to the fullest. Recently, the company launched its Smart Lithium – Hybrid Inverter Series which is compatible with lithium and lead batteries.
With its operational battery take-back-and-reuse program, which spans around 85 % of the Indian market, Maxvolt is creating massive-scale environmental and economic impact. The company has generated more than 200 direct employment opportunities while thousands of users have shifted to adopting sustainable energy solutions.
Maxvolt is establishing a massive lithium battery recycling plant to reduce dependency on imported raw materials and close the loop on battery lifecycle management. At the same time, Phase 2 of its capacity expansion has been initiated to scale its production beyond 6000 + battery packs per annum, with plans to set up a dedicated production line for advanced ESS batteries to service the growing demand from solar and grid-scale energy projects.
Looking further ahead, Maxvolt is scouting for new sites for setting up its EV charger production plant and is actively working to export readiness for cracking global markets. R&D concentrates on developing next-generation battery technologies with higher energy density and lower costs.
“Maxvolt believes in responsible innovation, leading to intelligent, efficient, and environment-friendly solutions. Our mission is to change how energy is stored and consumed in India or the world at large. The future, after all, belongs to the clean power industry, and Maxvolt duly commits itself to lead this change.” Mr. Satendra Shukla further added.
With enormous revenue growth, Maxvolt Energy is on the cusp of assuming an essential role in shaping the future of clean energy infrastructure in India.
At one of FirstCry’s warehouses in Bengaluru, the Bureau of Indian Standards (BIS) carried out search and seizure operations and found items valued at INR 90 lakh.
Bheemakkanahalli hamlet, Sulibele Hobli, Hoskote taluka, and Bengaluru rural district were all the sites of the one-day inspection. In a regulatory filing, FirstCry stated that several items valued at about INR 90,000,000 were seized as a result of the search.
Allegations of BIS and FirstCry’s Response
According to the BIS, the company violated Section 14(6) of the BIS Act of 2016 by failing to use its standard mark or hallmark for a few of its items. FirstCry explained that the search operation had no effect on the company’s activities and stated that it had cooperated completely with the authorities throughout the process.
The statement further stated that the company is seeking adequate legal assistance in support of its defence and has no cause to suspect that the products confiscated by BIS do not comply with BIS laws.
During the BSE intraday trading session on May 27, shares of Brainbees Solutions, the parent company of FirstCry, fell 6.4% to INR 351.15 per share from its previous close of INR 375.25 per share. The company’s poor financial performance in the fourth quarter preceded the stock’s decline.
What is BIS?
The National Standard Body of India, or BIS, was founded by the BIS Act of 2016 to promote the peaceful growth of the standardisation, marking, and quality certification of goods as well as for issues related or incidental to these operations.
The national economy has benefitted from traceability and tangibility in a number of ways, including the provision of safe, dependable, high-quality goods; the reduction of consumer health risks; the encouragement of imports and exports as alternatives; and the management of variety proliferation through standardisation, certification, and testing. In addition to its five Regional Offices (ROs) in Delhi (Central), Mumbai (Western), Chandigarh (Northern), Chennai (Southern), and Kolkata (Eastern), BIS maintains its headquarters in New Delhi.
In addition to providing certification services to the industry, the Branch Offices (BOs) under the Regional Offices are situated in Ahmedabad, Bangalore, Bhubaneswar, Bhopal, Coimbatore, Dehradun, Faridabad, Ghaziabad, Guwahati, Hyderabad, Jaipur, Kochi, Lucknow, Nagpur, Parwanoo, Patna, Pune, Rajkot, Raipur, Durgapur, Jamshedpur, and Vishakhapatnam.
The well-known pornographic material subscription service OnlyFans might fetch up to $8 billion if it were to go up for sale. According to a media report, billionaire owner Leonid Radvinsky is in negotiations to sell the content creator website to a group of investors headed by the US investment firm Forest Road Co.
The article also noted that Forest Road Co. is not the only company in talks to sell OnlyFans and that it is unknown when a deal will be reached.
A media report claims that despite OnlyFans’ $8 billion valuation, Radvinsky has been trying to sell the company for between $1.46 billion and $2.42 billion after struggling to attract buyers because of the platform’s pornographic content.
OnlyFans and its Operations
Tim Stokely established OnlyFans in 2016 as a comparatively safer network that gave preference to adult content producers. In 2018, Radvinsky, who also started the cam website MyFreeCams, purchased OnlyFans from Stokely.
Due to its distinct business strategy that does not rely on advertising, unlike social networking sites like Facebook and Instagram, OnlyFans has seen a 2000% increase in revenue since then. To create an account on the platform, individuals must go through a rigorous ID verification process.
In order to make its platform safe for creators, OnlyFans has also stated that it has taken specific actions, such as creating a purposefully difficult-to-use search function.
To read anything, whether explicit or not, posted by OnlyFans creators, registered users must pay a subscription fee. The creators of OnlyFans receive the remaining 80% of the price after the corporation deducts 20%.
Strong and Expanding Network of OnlyFans
At the close of its fiscal year 2023, OnlyFans had over 300 million registered members and 4.12 million producers. Its net sales increased by 20% to $1.31 billion, while its gross revenue reached $6.63 billion, up 19% from the same period last year.
According to regulatory filings, the company’s fiscal 2023 pre-tax profit was $658 million, with $5.32 billion in creator rewards. Radvinsky is listed as the sole shareholder of OnlyFans’ parent company, Fenix International, a London-based business.
When OnlyFans announced plans to outlaw pornography on the network in 2021, it provoked a fierce outcry from content publishers. With the statement that it had “secured assurances necessary to support our diverse creator community”, the business cancelled these intentions.
Since then, the business has been working to shift away from adult-orientated content by hiring a number of non-porn content producers and introducing OFTV, a free streaming service with original programming that is safe for work.
Gabe Newell, the CEO and co-founder of Valve, the firm that created Half-Life, DOTA 2, and Counter-Strike, as well as the leading PC game distribution platform Steam, has long experimented with the notion that a player’s brain should be more integrated with his computer.
In-house psychologists started researching people’s biological reactions to video games more than ten years ago; Valve previously thought about using earlobe monitors for their first virtual reality headgear. At GDC in 2019, the business openly discussed the concept of brain-computer interfaces for gaming.
However, Newell chose to separate the concept. He subtly included Starfish Neuroscience, a new brain-computer interface business, that same year. Starfish Neuroscience has now disclosed plans to manufacture its first brain chip later this year.
Cutomised Electrophysiology Chip
Brad Lynch, a Valve watcher, saw Starfish’s first blog post, which makes it apparent that a full implant is not currently in the cards. Starfish is not claiming to have developed the systems to power it or the parts to implant it into a person’s head.
This piece is the custom “electrophysiology” chip that is intended to record brain activity (similar to how Neuralink can “read your mind” so patients can interact with computers) and stimulate the brain (for disease therapy).
According to Starfish neuroengineer Nate Cermak, who bolded theirs, the company expects its first chips to arrive in late 2025 and is interested in collaborating with companies for whom such a chip would open new and exciting avenues.
It is possible that Starfish will end up partnering with other companies for wireless power or even the final brain implant.
Goal is to Access Multiple Brain Region: Starfish
However, according to Starfish, the objective is to create a less intrusive and smaller implant than the competitors, one that doesn’t need a battery, and one that can “enable simultaneous access to multiple brain regions” as opposed to just one location.
It can operate with wireless power transmission instead, according to Starfish, using only 1.1 milliwatts during “normal recording”.
In contrast, Neuralink’s N1 has 64 brain-implanted threads with 1,024 electrodes, a chip that used about 6 milliwatts as of 2019, a battery that requires wireless charging on a regular basis, and an overall implant size of about 23 mm in width and 8 mm in thickness (not including the chip). According to Starfish, connecting to several brain regions at once may be crucial for treating conditions like Parkinson’s disease.
“There is growing evidence that circuit-level dysfunction, in which the interactions between brain regions may be misregulated, is involved in a number of neurological disorders,” adds Cermak.
According to the company’s updated website, in addition to several simultaneous brain implants, it is developing a brain-reading, robotically guided transcranial magnetic stimulation (TMS) system to treat neurological conditions like depression and bipolar disorder, as well as a “precision hyperthermia device” to target and destroy tumours with heat.
