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  • Google AI Overviews Expands to India, Bringing New Features and Enhancements

    As part of its ongoing effort to rethink search using generative AI, Google has taken a giant leap forward by extending its AI-powered Search Overviews to six additional countries, including India. The goal of this feature is to improve the user experience and expose individuals to other viewpoints and knowledge by providing brief explanations of complicated subjects.

    Using generative AI, AI Overviews synthesise data from multiple sources and display it in an approachable manner; they were introduced in Search Labs last year. This facilitates the rapid understanding of difficult concepts, the investigation of other points of view, and the exploration of particular areas of interest.

    Google is expanding AI Overviews to other countries after receiving strong feedback from consumers in the US and Search Labs worldwide. These countries include Brazil, Mexico, Indonesia, India, and the UK. Every country will have local language support for this function.

    What Google is Offering to India?

    Both English and Hindi versions of AI Overviews will be made accessible in India, and they will include features that are tailored to the needs of Indian users. A number of the most notable features are available, including the ability to switch between English and Hindi results with ease, the ability to listen to responses from AI Overviews with only a push of the ‘Listen’ button, and many others.

    Google has reaffirmed its commitment to connecting consumers with a wide variety of sources. The purpose of AI Overviews is to inspire users to explore and interact with the internet, hence generating higher-quality traffic for businesses and publishers.

    In a blog post, Hema Budaraju, Senior Director of Product, Search (AI) Generative Experiences, Google, announced that the company is introducing popular features that were well-received during their Search Labs experiment: the ability to easily switch between English and Hindi results using a language toggle button and the ability to listen to responses with Text-To-Speech by tapping the ‘Listen’ button.

    According to Budaraju, the expansion will be introduced slightly over the period of a few weeks.

    Google is also launching a new right-hand link display for AI Overviews on desktop, which can be accessed on mobile by pressing the site icons on the upper right. This is all part of an effort to help consumers navigate more relevant websites and discover what they need.

    Controversy Regarding AI Overview

    Google had to limit the AI-generated feature’s use just fifteen days after it debuted due to user complaints that the responses were harmful and unreliable. The AI was found to be recommending bizarre things to users, such as swallowing a small pebble with their vitamins, drinking urine to pass a kidney stone, fixing pizza cheese with Elmer’s glue, and many more.

    How Does Generative AI Search Work?
    Generative AI search would certainly revolutionize web search, but what matters most is accurate and unbiased AI, as the results can only be as good as the training data set.
    StartupTalkyRishi Mundra

  • Krutrim to Release AI Chips by 2026

    On Thursday, Ola co-founder and CEO Bhavish Aggarwal stated that India must establish its future on its own terms in order to dominate the technologies of the future, specifically mentioning artificial intelligence (AI).

    At a press conference in Hosur, where new products were unveiled by Ola’s electric vehicle, cab, and artificial intelligence divisions, he predicted that the company would “simply end up becoming monthly active user farms for global companies” if current trends carry on.

    Ola will soon open a battery manufacturing facility in Hosur in addition to its electric vehicle (EV) factory.

    Krutrim, an artificial intelligence division of the Bengaluru-based business, plans to produce India’s first AI silicon chip by the year 2026. The likes of Intel, Nvidia, and AMD will be up against Ola if it succeeds. Not only that, but Amazon, Meta, Google, and Apple are all developing their own artificial intelligence CPUs.

    Joining Hands with Global Majors

    In order to construct the chips, Ola established strategic alliances with multinational powerhouses including ARM, a chip design firm, and Untether AI, an artificial intelligence firm based in Canada. A video message was played at the Hosur ceremony by ARM CEO Rene Haas, who expressed his joy at the partnership with Ola Krutrim.

    The Bodhi AI chip, the Sarv general-purpose CPU, and the Ojas edge-computing CPU are all part of Krutrim’s first family of semiconductors. The creation of AI systems that are both quicker and more efficient is anticipated to be made possible by the AI chip.

    As an additional resource for the developer community, Krutrim has introduced Krutrim Cloud, which offers general-purpose and AI capabilities along with a variety of AI services designed specifically for product development. Until Diwali, it has offered these data centre services—worth INR 100 crore—to developers and businesses at no cost.

    Transferring the Name and Expanding Ola Cabs

    Ola Consumer is the new name for Aggarwal’s initial ride-sharing company, Ola Cabs. Further cities will be added to the business’s reach.

    For all ONDC vendors, including startups and SMEs, Ola Consumer is offering a free year of Krutrim Cloud. In addition, Krutrim Cloud will provide direct-to-consumer brands with free access for a year.

    In a test program that ended this year, Ola Food & Grocery on ONDC exceeded 40,000 orders daily in Bengaluru.

    A completely automated dark store the size of a shipping container was on display, and the business intends to produce these at large. According to Aggarwal, the containers have the capacity to process 7–10,000 orders every day. Any online store can utilise this for inventory management and shipping purposes. Bombay Shaving firm, ITC, and Marico are all partners in this, according to the firm.

    These ready-made dark shopfronts could find a lot of success in India’s booming e-commerce market.

    Bhavish Aggarwal: Biography | Early Life | Career
    Explore the inspiring journey of Bhavish Aggarwal, the founder and CEO of Ola, as he navigates the dynamic world of technology and transportation.
    StartupTalkyTejas Mundhada

  • Binance Resumes Operations in India Following Compliance Registration

    Both the Google Play Store and the Apple App Store in India have reported the reappearance of the Binance cryptocurrency exchange after a seven-month absence. As a result of the exchange’s registration as a reporting entity with India’s Financial Intelligence Unit (FIU-IND), the applications and website of the exchange were once again made available to users on August 15.

    As part of the efforts to prevent money laundering, registration is a constitutionally mandated step that must be taken by all cryptocurrency exchanges that are active in India.

    FIU-IND blocking the operations of Binance earlier

    Binance was one of nine cryptocurrency platforms that were blocked by the Financial Intelligence Unit of India (FIU-IND) earlier this year owing to their failure to comply with local legislation.

    Following the failure of these platforms to register with the Indian law enforcement body, the block was implemented during the month of January.

    In April, there were reports that stated Binance intended to pay a fine of $2.25 million in relation to its earlier noncompliance; however, the exchange has not acknowledged whether or not this amount was paid.

    Binance is now aligning its operations to India’s compliance

    Binance will comply with the requirements of the Indian authorities by enforcing anti-money laundering (AML) rules and implementing steps to combat the financing of terrorism (CFT). Binance’s registration has now been completed.

    Validation of identity protocols, such as Know Your Customer (KYC), is included in the compliance programme of the exchange. Additionally, the exchange has a Financial Crimes Compliance team that provides support for investigations into crypto-related offences.

    Richard Teng, the Chief Executive Officer of Binance, referred to the registration as a regulatory milestone for the exchange. He emphasised the significance of the Indian market, which, according to Chainalysis, is one of the top five markets in the world in terms of the estimated amount of cryptocurrency transactions. The registration of Binance operations in India is a component of the company’s larger goal to conform to local legislation in a number of different jurisdictions. Recently, the exchange was successful in obtaining a licence to operate as a virtual asset service provider (VASP) in Dubai.

    Trading, purchasing, and selling of cryptocurrencies may all be done using Binance, which is a digital wallet service that operates online. The fact that Binance is a globally recognised software also means that its security features are of a very high standard and are always being improved. This, in turn, ensures that the coins customers keep in their wallets are safe and secure.

    Binance Success Story – Founders, Business Model, Competitors and More
    Binance is a cryptocurrency exchange platform that mixes finance and digital technologies. Know about its founders, business model, revenue and more.
    StartupTalkySarika Anand

  • India Launches the Earth Observation Satellite EOS-08

    ‘EOS-08,’ the newest Earth observation satellite from ISRO, was launched today from Satish Dhawan Space Centre, Shriharikota, using the Small Satellite Launch Vehicle (SSLV)-D3.

    Incorporating new technology needed for future operational satellites, designing and manufacturing a microsatellite, and creating payload instruments compatible with the microsatellite bus are the principal objectives of the EOS-08 mission.

    The Satellite’s Advanced Capabilities Will Enhance the Monitoring System

    Electro-Optical Infrared Payload (EOIR), Global Navigation Satellite System-Reflectometry (GNSS-R), and SiC UV Dosimeter are the three payloads that EOS-08, which is built on the Microsat/IMS-1 bus, carries.

    Applications such as satellite-based surveillance, environmental monitoring, disaster monitoring, fire detection, volcanic activity observation, and industrial and power plant disaster monitoring are all possible with the EOIR payload’s ability to capture images in the Mid-Wave IR (MIR) and Long-Wave IR (LWIR) bands, day and night.

    Applying GNSS-R-based remote sensing for applications including analysing ocean surface winds, assessing soil moisture, studying the cryosphere over the Himalayan region, and detecting floods, and inland waterbodies is made possible by the GNSS-R payload.

    At the same time, the SiC UV Dosimeter acts as a high-dose alert sensor for gamma radiation and tracks UV irradiance through the viewport of the Crew Module during the Gaganyaan Mission.

    During its one-year mission, the spacecraft will remain in a Circular Low Earth Orbit (LEO) at 475 km in height and 37.4° in inclination. The satellite can produce about 420 W of power and weighs about 175.5 kg. It is capable of communicating with the SSLV-D3 launch vehicle.

    Integrated Avionics System

    An Integrated Avionics system called the Communication, Baseband, Storage, and Positioning (CBSP) Package integrates various tasks into one efficient unit; EOS-08 is a major improvement in satellite mainframe systems like this.

    Designed with cold redundant systems in mind, this system supports up to 400 GB of data storage and uses evaluation boards and commercial off-the-shelf (COTS) components.

    To round out the onboard technological demonstration, the satellite contains a structural panel with PCBs incorporated in it, a battery that is embedded in the panel, a Micro-DGA (Dual Gimbal Antenna), an M-PAA (Phased Array Antenna), and a flexible solar panel.

    The smaller design of the satellite’s antenna pointing mechanisms allows it to rotate at a pace of 6 degrees per second and keep a pointing precision of ±1 degree.

    The miniature phased array antenna further enhances the communication capabilities, and the structural integrity and power generation are both improved by the flexible solar panel, which uses a foldable solar panel substrate, GFRP tube, and CFRP honeycomb rigid end panel.

    India Aviation Industry – Market size, Major players, Future Developments
    The Indian aviation industry is one of the fastest-growing industries in India. Here’s a deep insight into the Indian Aviation Industry and its Development
    StartupTalkyAbinaya Arangarajan

  • Swiggy Now Includes Non-Metro Eateries in Its Gross Value Service Fee Policy

    A renowned media house has reported that food tech company Swiggy, which is preparing for an initial public offering (IPO), has expanded its service fee policy to incorporate the gross order value (GST plus packaging fees) for restaurants located outside of metro areas. As a result of the change, its restaurant partners in those areas will earn a higher commission.

    In the past, restaurants in bigger cities were already charged a service fee (also called a commission) based on the gross value of their operations, whereas smaller towns and cities had to figure it out using the net value.

    How This Move Will Be Implemented?

    The service fee will be applied to the gross value of each order by Swiggy starting August 14, in accordance with the merchant conditions. The business informed its restaurant partners in a letter that the service price owed to Swiggy will slightly rise due to this adjustment being implemented evenly across the platform.

    The study states that around 1,000 eateries will be impacted by this regulation shift. “Contracts are usually tailored individually, but this latest update will be implemented for around 1,000 partners at this stage,” another media house reported in its recently published article.

    It is usual protocol, according to a Swiggy representative, to communicate with a select set of partners after negotiations; this is because each partner has a customised business agreement that is tailored to their specific needs.

    In contrast to Swiggy, which normally charges restaurants a commission of 17–25%, Zomato, an industry rival, charges payment gateway costs independently.

    Disputes Arise Around Commission Uniformity

    Swiggy has around 350,000 restaurants listed on its network. The move is to standardise prices on gross value orders across all of them. Nevertheless, numerous restaurant partners will be impacted, thus the adjustment has ignited a discussion.

    Sustainable techniques that are good for delivery services and restaurants alike should be seriously considered. Gaining market share through raising discounts or commissions alone might not be sustainable.

    Brand value, order numbers, and other indicators are usually considered during individual contract negotiations between meal delivery platforms and restaurant partners.

    There is constant debate over the commission that meal delivery companies like Zomato and Swiggy charge because of the substantial effect it has on restaurants’ bottom lines.

    Easing the Payment Services

    The newly integrated Unified Payments Interface (UPI) Plug-in service was introduced by Swiggy on Wednesday. This service is powered by the National Payments Corporation of India (NPCI) and Juspay.

    This functionality, which is marketed as Swiggy UPI, enables clients to make payments more quickly from within the app, thereby lowering the amount of time it takes to complete a transaction from more than 15 seconds to only five seconds.

    New Marketing Services Unveiled by Swiggy to Help Restaurants Prosper
    To help its restaurant partners increase their visibility and client interaction, Swiggy, India’s leading on-demand convenience platform, has introduced a range of off-app marketing tools.
    StartupTalkyNitin Konde

  • FirstCry Shares Debut Impressively at INR 651 per Share on NSE, With a 40% Premium

    Brainbees Solutions Ltd, the multi-channel retail platform that runs the ‘FirstCry’ brand, had a successful initial public offering (IPO) on Tuesday. The NSE listed price of a FirstCry share was INR 651, which was 40% more than the issue price of INR 465.00 per share.

    Shares of FirstCry were launched on BSE at INR 625 each, representing a premium of 34.41%.

    The market anticipated FirstCry’s IPO listing on Tuesday. Grey market indicators pointed to a successful launch of Brainbees Solutions shares prior to the listing. The grey market premium, or FirstCry IPO GMP, on August 13, 2024, was INR 80, which, according to stock market observers, was approximately 17% higher than the upper price range of FirstCry IPO.

    IPO’s Particulars

    Brainbees Solutions’ initial public offering (IPO) was offered for subscription to the general public from August 6 to August 8. August 13, was the first day of the FirstCry IPO, which had its allotment determined on August 9.

    The company raised INR 4,193.73 crore at the upper end of the price band for its first public offering (IPO), which was set at INR 440 to 465 per share. A total of 3,58 crore equity shares, with a face value of 1,666 crore INR, and 5.44 crore shares, with an OFS component, totalling 2,527.73 crore INR, made up the book-built issue.

    According to subscription data on NSE, the FirstCry IPO was oversubscribed by 12.22 times, with bids for 60.64 crore equity shares compared to 4.96 crore shares on offer.

    A total of 2.31 retail bookings, 19.30 QIB bookings, and 4.68 NII bookings were recorded for the initial public offering.

    Company’s Future Plans

    Among the many planned uses for the IPO money are the opening of additional “BabyHug” and “FirstCry” retail locations, growth into new global markets, investments in data science and technology, and other business expansion projects.

    The major book-runners for the FirstCry IPO are Kotak Mahindra Capital Company Ltd, Avendus Capital Pvt Ltd, JM Financial Ltd, Bofa Securities India Ltd, and Morgan Stanley India Company Pvt Ltd. The issue is being registered by Link Intime India Pvt Ltd.

    With its FirstCry brand, Brainbees Solutions Ltd has become the leading multi-channel retailer in India for products for moms, infants, and children. The company has established itself as a frontrunner in the specialised but fast-expanding sector because of its extensive product line and robust online and offline presence.

    In addition to India, FirstCry is increasing its presence in certain other foreign countries. Financially, Brainbees Solutions was all over the place in FY24, despite the company’s dominant market position. Net sales for the quarter came to INR 6,480.9 crore, and the company’s EBITDA was INR 70.5 crore.

    Supam Maheshwari – CEO & Co-Founder of First Cry
    Supam Maheshwari is co-founder & CEO of FirstCry. He also founded Babyhug-owned brand BrainBees & Xpressbees. Know more about Firstcry founder.
    StartupTalkyMegha Rani

  • Reliance and Walt Disney Crafted a New Strategy to Win Faster Antitrust Approval

    In order to expedite the antitrust clearance process for their $8.5 billion merger of Indian media holdings, Reliance and Walt Disney have reportedly offered to sell some channels. However, they are reportedly fighting any adjustments made to the cricket broadcast rights that they own.

    With a combined 120 TV channels and two streaming services, the Reliance-Disney merger, which was announced in February, is sure to be closely watched by antitrust experts. This is because it will result in creating India’s largest entertainment platform, locking horns directly with Sony, Netflix, Amazon, and Zee Entertainment.

    The Merger Will Have an Upper Hand

    Many are worried about the combined business’s pricing power and its influence on advertisers, especially since Reliance, owned by Asia’s wealthiest man Mukesh Ambani, will own a majority stake in the combined entity. The combined company will also own valuable cricket broadcasting rights worth billions of dollars.

    Reliance and Disney have informed the Competition Commission of India (CCI) that they are prepared to sell a small number of television channels (less than ten) in order to allay fears of market dominance and secure early clearance, after the watchdog’s secret requests for approximately one hundred questions pertaining to the merger. There are other stipulations that pertain to regional Indian language channels that the two firms might control.

    This Is Not the First Time Such a Merger Is Happening

    During the year 2022, Zee and Sony made an offer to sell three television stations in order to create a television behemoth in India that would be worth ten billion dollars. However, despite the fact that this helped them get clearance from the CCI, the merger ultimately failed.

    The notification that was issued by the Competition Commission of India (CCI) to approve that merger included information about the competitive landscape. The notification revealed that in the local language of Marathi, Disney and Reliance channels had a combined market share of between 65 and 75 per cent at that time. A market share of up to 50 per cent was held by the two with regard to Bengali language entertainment channels.

    Cricketing Rights Play a Vital Role

    Cricket is an additional area of disagreement in the merger procedure. In India, the sport has a devoted fan base, making the matches highly desirable for sponsors.

    The Indian Premier League (IPL), the most prestigious cricket event in the world, and other major leagues’ digital and television cricket rights would be owned by Reliance-Disney.

    So far, the CCI has not voiced any worries about the firms’ market strength in cricket rights, but the corporations have argued with the CCI that the rights cannot be sold at the moment because they expire in 2027 and 2028.

    According to a report, the corporations are also worried that the approval process could be prolonged because the Indian cricket body would have to approve any sub-licencing of cricket rights.

    Reliance Industries Limited Success Story [Case Study]
    A case study on India’s biggest organization by market value, Reliance Industries Limited. Know about Reliance’s history, revenue, growth, marketing & more
    StartupTalkyDevashish Shrivastava

  • The Supreme Court Has Temporarily Halted the Appeals Tribunal’s Decision Over the BYJU’S-BCCI Settlement

    On Wednesday, the Supreme Court issued a stay of the NCLAT ruling that had set aside the insolvency proceedings against the ed-tech major. This effectively enabled Byju Raveendran, the owner of the company, to regain control of the business.

    The ruling of the NCLAT that approved the settlement of Byju’s dues with the BCCI amounts to INR 158.9 crore, but the highest court has placed that verdict on hold. This decision has put a strong blow on Byju’s.

    The order was issued in response to a pleading by Glas Trust Company LLC, a creditor situated in the United States, against the verdict of the NCLAT. Glas Trust Company LLC asserts that they are owed one billion dollars by Byju’s.

    Additionally, a panel that was led by Chief Justice DY Chandrachud ordered the Board of Control for Cricket in India (BCCI) to maintain a separate account for the INR 158.9 crore that it had received from Byju’s as a result of a settlement.

    Insolvency proceedings against BYJU’S were halted on August 2 after the National Company Law Appellate Tribunal (NCLAT) gave its approval to the settlement of INR 158.9 crore in dues with the BCCI.

    How This Decision Can Bring More Trouble for BYJU’S

    Following the decision of the Supreme Court, the insolvency proceedings against BYJU’S will resume. This will result in the ed-tech major, which was previously valued at USD 22 Billion, being placed under the control of an insolvency administrator chosen by the court.

    At the beginning of this month, Byju Raveendran was able to restore control of the company after the National Company Law Appellate Tribunal (NCLAT) dismissed the insolvency procedures that were being brought against the startup.

    The cricket regulating body of India filed a complaint, stating that the company had not been paid its sponsorship dues, which resulted in the company being placed in the process of going bankrupt. After some time, the two parties reached a settlement on the issue, and an appeals tribunal put a stop to the insolvency procedures.

    Why BYJU’S Is Going Through a Financial Crunch?

    The fast growth and forceful strategy of acquisitions employed by BYJU’S have put a heavy burden on its financial resources. Many are worried about the company’s long-term viability because of its substantial need for outside finance, despite the fact that it has raised billions in cash.

    Despite the initial boost to online education caused by the COVID-19 pandemic, the market became saturated, which affected Byju’s growth trajectory.

    Misleading advertising, unauthorised charges, and trouble getting your money back are just a few of the customer service issues that have plagued Byju’s. Not only have these problems damaged the company’s image, but they have also prompted lawsuits.

    Members of the Enforcement Directorate and the Ministry of Corporate Affairs (MCA) are among the regulatory agencies that are constantly monitoring the operations of the company.

    Investigations have been initiated due to allegations of financial irregularities, such as disparities in revenue recognition and possible violations of the Foreign Exchange Management Act (FEMA).

    At the heart of both the company’s success and its present problems has been Byju Raveendran, founder and CEO of Byju’s. Now that stakeholders and investors are demanding answers about the company’s performance, his leadership is under scrutiny.

    BYJU’S Faces Legal Challenges: BCCI’s Insolvency Petition Accepted by NCLT
    Explore the latest developments as the country’s education tech giant BYJU’s encounters significant financial and legal issues.
    StartupTalkyNitin Konde

  • Unpaid Stamp Duty Cost Paytm’s Parent Firm INR 47.12 Lakh

    One97 Communications, the parent company of Paytm, has been ordered by the Office of Collector of Stamps in New Delhi to pay a penalty of INR 47.12 lakh for failing to pay stamp duty on the allotment of equity shares in recent years.

    As stated in a filing with the exchange, the penalty is a consequence of the company’s failure to pay stamp duty in the amount of INR 1,43,16,535 as a result of the allocation of 10,26,386 equity shares, each of which is worth INR 10.

    Despite the fact that there were delays of a few days in the submission of some applications, the company submitted applications for the payment of stamp duty at the appropriate time with the Office of Collector of Stamps in New Delhi. In the order that they were submitted, the applications in question have been processed by the Office of the Collector of Stamps.

    According to the filing, the company stated, “Firm has taken all of the necessary steps to be more diligent in doing our best to avoid similar instances in the future.”

    What Is Stamp Duty?

    The government levies a charge known as stamp duty on legal papers, particularly those that pertain to the transfer of property, the issue of shares, and other types of financial transactions.

    It is necessary for the legal validity and enforcement of these documents, which are payable when particular transactions take place, such as the transfer of property ownership or the formation of legal agreements.

    Paytm Sailing through Troubled Waters

    The Financial Intelligence Unit-India (FIU-IND) levied a penalty of INR 5.49 crore against Paytm Payments Bank Ltd. for violating the Prevention of Money Laundering Act earlier in the month of March.

    The bank was allegedly involved in supporting illicit activities, such as online gambling, through its accounts, which led to the imposition of the penalty. According to the findings of the Financial Intelligence Unit of India (FIU-IND), the bank has violated the rules regarding anti-money laundering, combatting financing of terrorism, and KYC (Know Your Client).

    In its response, Paytm Payments Bank stated that the problems were related to a business sector that had been discontinued and that it has also enhanced its monitoring and reporting mechanisms since previous statements.

    This is a warning lesson for all businesses, as Paytm went from being a pioneering firm to having to face regulatory roadblocks. Because of this, the complex equilibrium that exists between rapid growth and tight compliance is brought to light. All companies would be well to take note of Paytm’s experiences and reevaluate their compliance practices in light of these difficulties.

    Innovation is the engine that drives expansion, but compliance with laws and regulations is what assures long-term viability. By ensuring that their pursuit of innovation does not eclipse the need for compliance, businesses have a responsibility to work towards striking a balance between these factors.

    Paytm Case Study: Everything About India’s Leading FinTech Startup
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  • Sachin Tendulkar to Start a New Inning With a Sports Athleisure Brand

    Sachin Tendulkar, the flamboyant cricketer and master blaster nicknamed the “God of Cricket” for his extravagant career, is preparing to launch a new sports athleisure brand to test the waters of the sports market. Sachin has teamed up with Karthik Gurumurthy, the former head of Swiggy Instamart, for this endeavour. A media report states that the great cricketer will be joined by another former Swiggy executive, Karan Arora, to further expand the brand.

    The venture has already been registered with a holding company. Tendulkar and Whiteboard Capital, an early-stage venture capital firm, were allegedly the incubators of the startup.

    Records revealed that presently serving on the board of directors of the holding company known as SRT10 Athleisure Pvt Ltd. are Tendulkar and Whiteboard Capital.

    Tendulkar on the Driving Seat

    According to the information available in the public domain, Tendulkar, who is widely recognised as one of the most famous cricketers in the world, continues to earn a substantial fee for his brand endorsement deals.

    However, his involvement with the new business does not involve a transaction where the startup offers the celebrity a stake in exchange for being the public face of the brand. Tendulkar and the other cofounders are working closely on the projects.

    Sports Goods Demand is on High in India

    Health and fitness awareness, as well as the demand for sporting items, are at record highs throughout the nation. Shoe sales make up roughly 60% of the sports goods sector, while garment sales account for 30%. The rest are found in the accessories. Entrepreneurs and investors are showing a growing fascination with the sports goods market.

    Investors such as Nexus Venture Partners contributed INR 550 crore to Agilitas Sports, the venture capital firm founded by Abhishek Ganguly, the former head of Puma India. For 40 years, Agilitas had the Indian licence for the Italian shoe brand Lotto. Some other modern shoe companies that aim to attract athletes are also in discussions with venture capitalists about expanding their businesses. Firms that have been around for a while include Adidas and Puma.

    Sports Celebs and Their Ventures

    An increasing number of superstars, both domestic and international, are launching businesses, with some going on to sell for $1 billion or more. Tendulkar is the latest in this trend.

    Puma and Indian cricketer Virat Kohli have worked together on several projects, including the One8 shoe line and Kohli’s ownership of a stake in Universal Sportsbiz Pvt Ltd (USPL), the parent company of the Wrogn brand. Deepika Padukone, MS Dhoni, and a slew of other famous people are investors in new businesses. Beauty and skincare brand 82E is run by Padukone. Katrina Kaif is the face of Nykaa KK, a cosmetics line that she co-founded with Nykaa.

    List of Startups Funded by Sachin Tendulkar
    Sachin has maintained a catalogue of being an investor along with his successful cricket career. His investments include Smartron, JetSynthesys, etc.
    StartupTalkyIpsita Acharya