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  • Tata Motors Harnessing India’s Sustainable Vision by Conducting Trials of Country’s First Hydrogen Truck

    Tata Motors has begun testing hydrogen-powered heavy-duty trucks for the first time. This development is aligned with India’s goal of having net-zero emissions by 2070. The Union Minister of Road Transport & Highways, Nitin Gadkari, and the Union Minister of New and Renewable Energy, Pralhad Joshi, officially launched this historic trial, which is a major step towards sustainable long-distance cargo transportation. Tata Motors demonstrates its dedication to spearheading sustainable transportation solutions through this groundbreaking project, which is in line with India’s larger green energy objectives. It won the contract for this trial, which is supported by the National Green Hydrogen Mission of the Ministry of New and Renewable Energy. It represents a major advancement in determining the practical and profitable feasibility of employing vehicles powered by hydrogen for long-distance transportation and in establishing the necessary supporting infrastructure to ensure their smooth functioning.

    The Trial Phase

    During the testing period, which might last up to 24 months, 16 sophisticated hydrogen-powered vehicles with different payload capacities and configurations will be deployed. The most well-known freight routes in India, such as those in Mumbai, Pune, Delhi-NCR, Surat, Vadodara, Jamshedpur, and Kalinganagar, will be used to test these vehicles, which are outfitted with cutting-edge hydrogen internal combustion engines (H2-ICE) and fuel cell (H2-FCEV) technologies. “Hydrogen is the fuel of the future with immense potential to transform India’s transport sector by reducing emissions and enhancing energy self-reliance,” stated Nitin Gadkari as he kicked off the trial. Initiatives like this will hasten the heavy-duty trucking industry’s shift to sustainable mobility and bring us one step closer to a productive, low-carbon future. He commended Tata Motors for spearheading this important development in the direction of hydrogen-powered smart and environmentally friendly transportation.

    Girish Wagh, Executive Director of Tata Motors, emphasised the company’s readiness and stated that it is a great honour to lead India’s transition to smarter, greener, and sustainable mobility. With a long history of fostering national development, the corporation has consistently embraced innovation to create mobility solutions that support India’s expansion and advancement. Tata Motors is pleased to carry on this tradition by leading the way in the switch to clean, emission-free energy for long-distance transportation with the launch of these hydrogen truck trials today.

    The Technology Opted to Design these Trucks

    The vehicles that have been flagged off demonstrate both hydrogen internal combustion engine (H2ICE) and hydrogen fuel cell electric vehicle (FCEV) technology, demonstrating Tata Motors’ all-encompassing approach to hydrogen mobility. This includes the Tata Prima H.28, a cutting-edge H2ICE vehicle, and two Tata Prima H.55S prime movers, one with an H2ICE engine and the other with an FCEV engine. These vehicles, which have a 300–500 km operating range, are designed for high-performance, economical, and environmentally friendly transportation. With the high-end Prima cabin and cutting-edge driver-assist safety systems, they raise the bar for trucking safety while improving driver comfort, lowering tiredness, and increasing productivity.

  • Notice to Ola Electric For Not Fulfilling PLI Commitments

    To make matters worse, Ola Electric Mobility has apparently received a notice from the Ministry of Heavy Industries (MHI) for not fulfilling its obligations under the National Programme on Advanced Chemistry Cell (ACC) Battery Storage PLI program. In addition to Ola, the notifications were also sent to Reliance and Rajesh Exports, two other businesses that benefitted from the battery PLI scheme. Ola Electric would be penalised INR 12.5 lakh per day beginning January 1, 2025, until it fulfils its obligations under the PLI scheme, according to a media report. ACC Energy Storage, which bid as Rajesh Exports, and Reliance New Energy Limited (RNEL), owned by Mukesh Ambani, will pay INR 5 lakh every day.

    Response from Ola Electric

    A representative for Ola Electric responded to the notice by saying that its purpose is to encourage businesses to meet the PLI program’s battery manufacturing goals as soon as possible. According to a senior official quoted in a media report, “The scheme’s goal is not to collect penalties.” The official did add, though, that the businesses are free to argue their case and request a waiver of this rule. Ola Electric has previously declared that it will start producing its cells commercially in Q1 of FY26, and the company is on track to satisfy the deadlines. Under the government’s ACC PLI program, Ola Electric will be the first company in India to produce lithium-ion cells on a commercial basis.

    What is PLI Scheme?

    With an INR 18,100 Cr budgeted investment, the PLI Scheme seeks to increase indigenous battery manufacturing capacity and lessen dependency on imports. In addition to the incentives, the MHI offered the companies capacities through the PLI Program. Ola Electric agreed to produce advanced chemistry cells for EVs under the ACC PLI project in 2022. The plan prioritises indigenous value addition and global competitiveness in battery manufacture, with a goal manufacturing capacity of 50 GWh. It is important to remember that Ola Electric has benefitted from other government programs like PM E-Drive and FAME-II, which mandate that businesses maintain service centres and offer warranties.

    Trouble Continues for Ola Electric

    In addition to the aforementioned incident, a media outlet also reported that Ola Electric’s Roadster X is still delaying delivery due to unresolved technical concerns and the ongoing homologation process. Bhavish Aggarwal stated at the bike introduction that the initial plan was for the bike series to start by mid-March 2025. This comes shortly after MHI began to investigate the business for service-related problems, including multiple customer complaints about delayed deliveries, faulty cars, and subpar customer support.

  • Zepto vs. Zomato: Deepinder Goyal’s 5,000 Crore Burn Comment Sparks Debate

    Deepinder Goyal, the man who built Zomato while most of us were still figuring out our lunch money, recently made a bold claim about Quick Commerce. In an Economic Times article, he suggested that the industry is collectively burning ₹5,000 crore per quarter, with Zepto allegedly responsible for “substantially more than half” of it.

    Aadit Palicha, Zepto’s 22-year-old founder, was quick to respond – respectful, but not without a raised eyebrow. He called the statement “verifiably untrue” and hinted that Zepto’s upcoming financial filings would tell a different story. He even gave Deepinder his flowers, calling him a role model and praising Zomato’s legacy. Classy move. But let’s address the elephant in the room: where did Deepinder get that number from?

    Quick Commerce has been under scrutiny for its cash-guzzling ways. Between 10-minute deliveries, deep discounts, and a customer base that enjoys ordering a single banana at 3 AM, profitability remains a distant dream. Blinkit, Zomato’s own quick commerce arm, isn’t exactly a cash-printing machine either. So, if Zepto’s burn is allegedly that high, what’s the story at Blinkit?

    While Zepto denies burning ₹2,500+ crore a quarter, there’s no denying that Quick Commerce isn’t a walk in the park. Margins are tight, customer habits are unpredictable, and sustainability is the big question. Maybe Deepinder was misquoted, maybe he misspoke, or maybe he just said what a lot of VCs have been whispering.

    Either way, the Quick Commerce space remains a high-stakes game, and whether it’s Zepto, Blinkit, or anyone else, only time (and financial filings) will tell who’s actually burning and who’s building.

     

  • The $2.81 Bn Government Demand will be Challenged by RIL Following the Court’s Reversal

    In response to a recent decision by the Delhi High Court’s Division Bench, Reliance Industries Limited (RIL) has declared its plan to contest a $2.81 billion demand from the Ministry of Petroleum and Natural Gas. A long-running dispute about purported gas migration from Oil and Natural Gas Corporation (ONGC) blocks to the KG-D6 Consortium blocks, in which Reliance is a significant partner, is the source of the demand. The dispute stems from a 2018 international arbitration ruling in which the Government of India’s (GOI) claims were rejected by the KG-D6 Consortium, which included RIL, BP Exploration (Alpha) Limited, and NIKO (NECO) Limited. The consortium was given an amount of almost $1.55 billion. In May 2023, a Delhi High Court judge maintained this award. The GOI later appealed the ruling, nevertheless.

    What Exactly Happened?

    RIL announced in a regulatory filing that on July 24, 2018, an eminent international arbitration panel awarded the company an arbitral award of about US $1.55 billion against the Government of India’s (GOI) claim on the KG-D6 Consortium for alleged gas migration from ONGC’s blocks. On May 09, 2023, the GOI’s appeal contesting the arbitral award was denied by a single judge of the Hon’ble Delhi High Court. The Hon’ble Delhi High Court’s Division Bench received an appeal from the Government of India.

    On March 3, 2025, the Delhi High Court’s Division Bench reversed the decision of the single judge. As a result, the Ministry of Petroleum and Natural Gas demanded $2.81 billion from the PSC Contractors, RIL, NECO, and ALPHA. In a formal announcement to the stock exchanges, Reliance Industries said that the Division Bench ruling and the ensuing demand were “unsustainable.” The business has declared that it is contesting the ruling right now. Additionally, RIL has stated that it is confident it would not be held liable for this demand. According to the company’s declaration, RIL has received legal advice that the Division Bench ruling and this temporary requirement are unworkable.

    RIL’s Financial Dynamics

    The biggest company in India’s private sector is RIL. Hydrocarbon production and exploration, petroleum refining and marketing, petrochemicals, advanced materials and composites, renewables (hydrogen and solar), retail, and digital services are all included in its operations. In the quarter that concluded on December 31, 2024, RIL recorded a 12% year-over-year growth in consolidated net profit, reaching a record high of INR 21,930 crore. EBITDA increased 7.8% to INR 48,003 crore, while RIL’s Q3 sales increased 7.7% to INR 267,186 crore.

  • OYO Rushes to go Public as the Debt Deadline Approaches

    OYO, a travel tech platform, is speeding up its plans for an IPO as it approaches a significant deadline for year-end debt payments. A media agency reported that if the business doesn’t go public by October, creditors, notably Mizuho Financial Group Inc., are putting pressure on founder Ritesh Agarwal to pay back a $383 million loan that was a part of a bigger financing package. According to the story, which cited sources, lenders want to know more about Agarwal’s financial situation and might postpone the payback deadline until 2027—but only if OYO goes forward with listing this year. With a guarantee from SoftBank CEO Masayoshi Son, the OYO founder borrowed $2.2 billion in 2019 to expand his ownership of the company and fortify his strategic control over the business. According to the article, Agarwal has not yet paid back the first tranche of the loan, which was restructured in 2022.

    The Much Awaited IPO

    Although OYO had long contemplated an IPO, their intentions were thwarted by the COVID-19 pandemic. According to the sources, the business has now started talking to bankers about a possible listing and is looking for a valuation of up to $5 billion. With a holding of more than 40%, SoftBank continues to be OYO’s largest stakeholder, while Agarwal, whose prior IPO attempts failed, owns more than 30%. When OYO’s IPO preparations are finalised, they will consider the company’s “strong net profits” for the fiscal year ending March 2024 and an “expected strong year” through March 2025, according to a statement from Agarwal’s family office. The family office refuted claims about reorganisation and funding arrangements as “completely incorrect” and called them rumours or speculation. Additionally, it denied the rumoured valuation, claiming that it is lower than recent secondary trades that they are aware of and does not reflect reality.

    What Lead to the Financial Crunch?

    Founded in 2013, the travel tech business with its headquarters in Gurugram gained the support of SoftBank, who promoted aggressive expansion into areas such as the US and Japan, which ultimately resulted in significant failures. Due to its dependence on low-cost hotels for budget-conscious clients, OYO was especially susceptible to the COVID-19 outbreak, which had a negative effect on its operations. The company’s difficulties, which range from legal challenges to losses brought on by overly ambitious overseas development, are indicative of India’s startup boom, which was fuelled by venture financing but stalled as investors turned their attention to profitability.

    The Recovery Mode

    OYO has steadily recovered after the pandemic, and as sales increased, it reported a slight profit for the fiscal year that ended in March 2024. Through his Singapore-based investment company, Patient Capital, Agarwal contributed over $95 million to the business at the end of 2023. In the second quarter of FY25, OYO declared a net profit of INR 158 crore. For the next two quarters of FY25, the business was able to report profits. OYO reported revenue of Rs 5,541.6 crore and a net profit of INR 229.6 crore for FY24, according to research platform Tracxn.

    Recent strategic initiatives of the company include the premiumization of its portfolio in India, the acquisition of Checkmyguest, a rental home company located in Paris, and G6 Hospitality, a significant hotel chain based in the United States. Moody’s, a global rating agency, kept its outlook unchanged and raised OYO’s rating from B3 to B2. In FY25–26, OYO’s first full year of profits consolidation with its recently acquired businesses, it projects that its EBITDA will reach $200 million.

  • Mintoak Expands Their Offering with Digiledge, Bringing CBDC and Bill Payment Capabilities

    Digiledge, a Bengaluru-based fintech SaaS platform, was purchased by Mintoak to expand its digital payments platform to include bill payment and Central Bank Digital Currency (CBDC) solutions. The financial business will function as a Mintoak subsidiary after the acquisition, which was completed in an all-cash transaction. The deal’s magnitude was not revealed, though. According to a statement from Mintoak, the acquisition will enhance its merchant payment services by including CBDC and bill payments. Banks can future-proof their payment ecosystems and give SMEs an omnichannel payment experience by integrating CBDC acceptance into merchant platforms.

    How Mintoak Operates?

    Established in 2017 by Raman Khanduja, Rama Tadepalli, and Sanjay Nazareth, Mintoak collaborates with banks to digitise merchants and small companies by enabling them to take all payment methods via their mobile devices, including UPI, QR codes, and cards. Additionally, it offers merchants commerce enablement solutions. The Mumbai-based business collaborates with banks in six South Asian, African, and Middle Eastern nations. Among its partners are HDFC Bank, SBI, Yes Bank, and Axis Bank. It claims to have $50 billion in gross merchandise value (GMV) annually, 3 billion transactions annually, and over 3 million merchants.

    Collaboration Aims to Foster New Opportunities

    Govind, the CEO and cofounder of Digiledge, commented on the purchase, saying that Digiledge would be able to operate at scale and enter foreign markets thanks to the partnership with Mintoak. Through this collaboration, Digiledge is able to provide greater value and assist the global SME ecosystem.

    Some of the top banks in southern India, including Federal Bank, Karnataka Bank, Canara Bank, Indian Bank, and CSB Bank, are partners of Digiledge. Since Mintoak can now offer its solutions to much larger institutions, Digiledge has a much greater canvas to work with, according to Khanduja, a co-founder of Mintoak. Mintoak wishes to provide Digiledge the freedom to operate the company as they have been doing and all the financial backing they need to compete on a bigger scale. According to him, Mintoak now wants to increase its market share in the Middle East, Africa, and Southeast Asia.

    In 2017, Mahesh Govind and Chandni Mahesh created Digiledge as well. It claims that its bill payments and CBDC stack improve payment infrastructure and digitise financial workflows, and it provides blockchain solutions for financial services.

    Mintoak Financial Outlook

    According to Khanduja, the startup’s financial performance in the fiscal year 2023–2024 (FY24) was INR 83 Cr, and it is expected to achieve a 35–40% YoY increase in sales in FY25. The purchase was made a few months after Mintoak closed a secondary deal at INR 71 Cr, or about $8.2 million. The Mumbai-based startup’s original backers, HDFC Bank and Pravega Ventures, sold shares to early-growth technology investor Z3Partners during the round. Together with its current backers, PayPal Ventures led Mintoak’s $20 million Series A fundraising round in 2023.

  • E-Comm Giants Are Warned by Karnataka IT Minister About Their Poor Customer Service

    Priyank Kharge, Karnataka’s IT minister, has alerted to take regulatory action against e-commerce and fast commerce platforms if they don’t enhance customer service and complaints. According to the minister, current technological solutions—like chatbots used by different platforms—cannot resolve client complaints, leaving people stuck in a never-ending circle of uncertainty. In a post on X, Kharge stated that although chatbots and intelligent prompts can manage certain problems, they are unable to address legitimate consumer or citizen complaints, frequently leaving people in a never-ending circle of uncertainty. Kharge’s remarks highlight the difficulties e-commerce and quick commerce platforms face in managing consumer complaints as more people turn to online platforms for the quick delivery of a wide range of goods rather than traditional retail.

    Stern Warning to Improve Customer Service and Delivery Experience

    The minister went on to say that Swiggy, Zomato, and other e-commerce and rapid commerce platforms need to enhance their delivery and customer service; if they don’t, governments may need to enact legislation to guarantee improved operation and service for the populace. As more people turn to online platforms for the speedy delivery of a wide range of items rather than traditional retail, Kharge’s remarks highlight the difficulties e-commerce and quick commerce platforms confront in managing client complaints. One of the main challenges has been the dependence on automated and digital systems that are not sophisticated enough to manage important customer concerns. As a result, customers frequently share their purchasing experiences and degree of satisfaction with a product or service on social media platforms.

    Government Adding National Consumer Helpline and the e-Maap Portal

    Crucially, the government launched AI-based programs in December of last year to improve consumer protection. These included the e-Maap portal and the National Consumer Helpline, which are designed to identify misleading marketing activities and strengthen the complaint resolution process. Among the companies that have embraced a safety promise to improve online consumer protection are Reliance Retail, Tata Sons, and Zomato.

    The Karnataka Platform-Based Gig Workers Bill

    The Karnataka Platform-Based Gig Workers (Social Security and Welfare) Bill was presented to the state cabinet on December 6 but was postponed, as one may remember. Because of the resistance from aggregators and other stakeholders, it has not yet been introduced in the legislature. Every transaction made on aggregator platforms like Zomato, Swiggy, Flipkart, Amazon, Ola, Uber, Urban Company (UC), and several others will be subject to a 1-2% tax, according to the bill. A welfare board will receive the money earned from these platforms and use it to implement social security policies for gig workers who provide delivery services.

  • Ashwini Vaishnaw: Amazon Web Services will Invest $8.2 Billion in Maharashtra

    Over the next four to five years, Amazon Web Services (AWS), the company’s cloud computing division, plans to invest $8.2 billion in Maharashtra. Ashwini Vaishnaw, the Minister of Electronics and Information Technology, reaffirmed the declaration and emphasised the investment’s positive effects on the economy and job market. It is anticipated that AWS’s strategic growth in India will greatly improve the nation’s cloud infrastructure and support the government’s initiatives to encourage locally relevant data storage options. Minister Vaishnaw stressed that the investment would generate a significant number of job opportunities in addition to increasing the adoption of cloud technologies. The implementation of this investment will start between 2029 and 2030, he stated.

    Sharing his views on the development, Dipal Dutta, CEO at RedoQ stated, “AWS is positioning itself at the forefront of India’s digital drive as the International Data Corporation projections indicate growth from $8.3 billion in 2023 to $24.2 billion by 2028. It’s part of a broader trend of major tech companies recognising India’s potential, as we’ve seen with Microsoft’s recent $3 billion investment announcement. This investment builds upon AWS’s existing presence in India, complementing its data centres in Mumbai and Hyderabad. What is most exciting about this announcement is the focus on cutting-edge technologies. AWS plans to deploy its own graphics processing units (GPUs) and introduce advanced cloud management services, which will undoubtedly lead tothe development of new utilities and management tools across various sectors.”

    Amazon Continues its Expansion in India

    AWS now runs two significant data centres in India: one in Hyderabad, which opened in 2022, and another in Mumbai, which opened in 2016. Amazon’s ongoing dedication to India’s digital transformation, especially in the area of cloud computing, is demonstrated by their most recent investment. The growth of cloud services in India is consistent with industry forecasts that show this sector will experience substantial growth. India’s cloud services industry is expected to reach $24.2 billion by 2028, up from $8.3 billion in 2023, according to a survey by the International Data Corporation (IDC). This expansion is anticipated to be driven by the growing need for cloud storage, which is being fuelled by digital transformation in a number of industries. Amazon has been making significant investments in India’s e-commerce industry in addition to its cloud computing ambitions. To bolster its e-commerce activities in the nation, the corporation proposed a $2 billion investment in 2023. Samir Kumar, the national manager for Amazon India, presented the company’s plan to digitise 10 million small businesses and integrate over 12 million organisations into the digital economy in the following four years during the annual Smbhav event in December 2024.

    Amazon Enhancing India’s Export Market

    Amazon has been instrumental in supporting India’s export industry. According to the corporation, it has helped India’s small and medium-sized enterprises expand by facilitating a total of almost $13 billion in exports from the nation. Amazon has set the lofty goal of facilitating more than $80 billion in total e-commerce exports from India by 2030. Comparing this estimate to its previous target of $20 billion in exports by 2025, it has increased fourfold. Amazon’s long-term dedication to India’s digital infrastructure and economic growth is demonstrated by the announcement of AWS’s new investment. The company is well-positioned to play a significant part in India’s digital transformation given the quick growth of cloud services and e-commerce. In the upcoming years, Amazon’s investments in cutting-edge technology and the government’s push for localised data storage are anticipated to establish India as a major cloud computing hub.

  • FluxGen Raises ₹28 Crore Pre-series A round Led by IAN Alpha Fund and others

     FluxGen Sustainable Technologies Pvt Ltd, a leading climate tech company in end-to-end smart water management solutions, has raised ₹28 crore in a pre-series A funding round led by IAN Alpha Fund. The round also saw participation from Rainmatter, Gameskraft Technologies, Intersection Ventures, and Force Ventures, along with existing investors Axilor Ventures and Arali Ventures. The funds will be used to scale FluxGen’s AI and IoT-powered water management solutions, expand into new industrial markets, and strengthen customer acquisition in India and internationally.

    With this infusion of capital, the company plans to double down on product innovation, including upcoming solutions for groundwater intelligence, wastewater resource management, and water risk analytics. The company will also scale its sales and partner networks, accelerate international growth, and continue building a global marketplace for industrial water management. 

    With a bold vision to save at least 1 billion liters of water daily, FluxGen is set to lead the charge in making efficient water management a reality for several industries, worldwide.

    Ganesh Shankar, Founder & CEO, FluxGen, said “Water is a business imperative. With the increasing impact of climate change and stringent regulations, businesses need to act fast. This investment enables FluxGen to scale its AI-powered water intelligence solutions, ensuring that industries not only save water but also secure their future operations.”

    Founded in 2021 and headquartered in Bengaluru by Ganesh Shankar (Founder & CEO) and Emanuel Deepak (Co-founder & COO), FluxGen provides end-to-end water intelligence solutions, enabling real-time monitoring, predictive analytics, and regulatory compliance for industries. Its patent-pending products and flagship platform, AquaGen, empower companies to optimize water usage, prevent wastage, and mitigate water-related operational and supply-chain risks. With over 110 clients, including industry giants like TATA Steel, Aditya Birla Group, Care Hospitals, Mahindra Group and Microsoft, FluxGen is serving high water-use sectors like metals and mining, food and beverage, textiles, pharmaceuticals, automotive, and healthcare. Customers have reported up to 30% reduction in water consumption—a financial and ESG benefit.

    Sarika Saxena, Managing Partner of IAN Alpha Fund, IAN Group’s second VC Fund, said “We are very excited with the founding team of Ganesh and Deepak, their passion to leverage technology to solve the real problem of water. FluxGen is enabling industries to embrace sustainable practices while increasing efficiency and minimizing environmental impact by utilizing AI and IoT for real-time water management.” 

    The Indian smart water management market is valued at over ₹42,000 crores over the next 7–10 years, with a ₹5,000 crore annual SaaS opportunity. FluxGen is well-positioned to capture significant market share with its localized, industry-specific solutions, and an impressive 40%+ customer repeat upsell rate. The company is rapidly expanding both domestically and internationally, in the Middle East and Africa, regions where water scarcity is a critical concern.

    FluxGen’s commitment to sustainable water usage has earned national recognition, with Hon Prime Minister of India, Shri Narendra Modi acknowledging its contribution to water conservation through technology. 

    The company has won several awards including the global Microsoft Entrepreneurship for Positive Impact Global Award, KPMG Global Tech Innovator Competition, L’Oréal big Bang Tech Innovation Program, and was the only Indian company on the prestigious Norrsken Impact/100 2024 list.

    The inspiration behind the company’s vision is the founder’s personal experiences with water scarcity in Bengaluru. Witnessing the city’s shift from abundant natural water sources to a reliance on tankers, he realized the need for data-driven solutions to tackle water stress. This led to the creation of FluxGen, with the core belief that “we can’t fix what we don’t measure.” Today, the company’s AI-powered platform not only addresses immediate water management challenges but also evolves to adapt to changing climate patterns, helping industries safeguard resources for future generations.

    About FluxGen:
    FluxGen Sustainable Technologies Pvt Ltd, headquartered in Bengaluru, is a leading climate tech company providing comprehensive, end-to-end smart water management solutions. Leveraging cutting-edge technologies such as Artificial Intelligence (AI), Generative AI, Geospatial Imaging, and Cloud Computing, FluxGen is committed to making water data as transparent as water itself.

    Through AI-driven analytics, FluxGen enables real-time monitoring of entire water networks, offering prescriptive insights to optimize water systems, minimize wastage, and deliver predictive insights to enhance water management while mitigating risks. The company’s solutions are designed for seamless scalability across diverse use cases and geographies.  

    FluxGen has leading partners like Cisco, KPMG and Microsoft, and its patent-pending innovative solutions are trusted by clients in a wide range of sectors including natural resources, manufacturing, smart cities, commercial real estate, and healthcare facilities.

    About IAN Group:
    IAN Group is the country’s single largest platform for seed and early stage investment platform with IAN Angel Network, BioAngels and IAN Fund I and IAN Alpha Fund enabling entrepreneurs to raise from Rs. 50 lakhs to Rs. 50 crores. The platform brings money, mentoring from successful entrepreneurs and global market access. The platform is sector-agnostic and has funded innovative start-ups across 19 sectors in India and 7 other countries, thereby growing the global footprint of companies. IAN has been listed by Forbes as one of iconic business and economic events of Independent India, over 75 years along with LIC, NASSCOM, RBI, Naukri.com amongst others.

    About IAN Alpha Fund:
    IAN Alpha Fund, a Rs. 1000 crores (US$125mn) SEBI registered AIF Category II VC Fund, is the second Fund in IAN’s series of Funds. The Fund will explore opportunities in diverse sectors such as fintech, healthtech, cleantech, AI, deep tech, agritech, medtech, hardware and electronics, manufacturing, Web 3.0, Metaverse, Industry 4.0, SaaS, D2C, and other domains where innovation abounds. The Fund invests in innovative startups solving real problems for India and the world, with sustainable business models enabling scale by leveraging technology. With the IAN Alpha Fund, IAN continues its legacy of building a portfolio of high quality l companies by founders who not only understand the customer need but have leadership qualities to build a high-quality management to build valuable businesses.

  • Beams Fintech Fund Leads $70M Round in InsuranceDekho, Strengthening Its Commitment to India’s Insurtech space

    New Delhi, 4th March 2025: Beams Fintech Fund, a leading growth-stage private equity fund focused on the Fintech and Financial Services sector, has announced a follow-on investment in its portfolio company, InsuranceDekho, as part of a $70 million funding round. The round was co-led by Beams Fintech Fund, Japan’s Mitsubishi UFJ Financial Group (MUFG) and insurer BNP Paribas Cardif through its insurtech fund managed by European investment major Eurazeo.

    Founded in 2017 by Ankit Agrawal, InsuranceDekho has emerged as India’s leading insurtech platform, revolutionizing the insurance distribution landscape. With a mission to democratize insurance accessibility, the company has leveraged AI-driven technologies to simplify the buying, selling, and claims process for millions of Indians. To date, InsuranceDekho has served over 10.2 million customers nationwide, with 21 new policies issued every minute on its platform.

    Headquartered in Gurugram, India, InsuranceDekho has achieved a footprint across 99% of the country’s pin codes, supported by a network of 220 K partners offering 720+ insurance products across categories such as Motor, Health, Life, and Corporate Business. The platform partners with 49 insurance companies, making it one of the most extensive insurance marketplaces in India.

    Sagar Agarvwal, Founder & Partner at Beams Fintech Fund, commented on the investment:

    “We have been strong believers of InsuranceDekho’s vision since our initial investment. Their phenomenal growth, robust distribution network, and relentless focus on technology-driven accessibility make them a clear industry force. We have strong conviction in Ankit and the entire InsuranceDekho management team. Their expertise, speed and execution capabilities continue to propel the company forward. This follow-on investment reaffirms our belief in their potential to scale further and redefine the insurance distribution landscape in India.”

    Ankit Agrawal, Founder & CEO of InsuranceDekho, added:

     “We are delighted to have Beams Fintech Fund, Eurazeo, and MUFG double down on their support. This capital will enable us to expand our reach, enhance our tech-driven offerings, and solidify our position as India’s go-to insurance platform. With our continued focus on digital transformation and customer-centric solutions, we are well-positioned to drive the next wave of insurance adoption in India.”

    Beams Expands Its Investment Footprint

    This marks second investment for Beams Fintech Fund in 2025, following a INR 200 crores investment in a pre-IPO opportunity in one of the largest unlisted NBFC company in India specializing in used commercial vehicle finance across India, which is set to go public in June 2025. Beams is also in advanced stages of finalizing its third investment for the year in a leading

    MSME micro-LAP player, further expanding its footprint in India’s high-growth financial services landscape.

    With these investments, Beams has already deployed over ₹300 crore since the start of 2025, reinforcing its commitment to backing category leaders driving financial inclusion and innovation in India.

    Introducing Heph, InsuranceDekho’s New SaaS Platform for Insurance Providers
    Insurtech startup InsuranceDekho, based in Gurugram, has established Heph, a new software-as-a-service (SaaS) company that is affiliated with InsuranceDekho.
    StartupTalkyNitin Konde

    About Beams Fintech Fund:

    Beams Fintech Fund is a mid-market private equity fund managing an AUM of INR 900 crores focused on investing in category-leading Fintech, Financial Services, and B2B SaaS companies. With a diversified portfolio of high-growth businesses, Beams partners with visionary founders to drive scale, profitability, and long-term value creation.