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  • Daily Indian Funding Roundup & Key News – 18th September 2025: Wow! Momo Raises $8.5 Mn, Groq Secures $750 Mn, Meta’s Neural Band Launch & More

    India’s startup and business ecosystem on 18th September 2025 saw a mix of significant funding rounds and key developments. From Wow! Momo’s $8.5 million Series D raise and Infra.Market’s INR 731.5 crore flat-valuation round to Groq’s massive $750 million funding, the day highlighted strong investor interest across F&B, construction tech, venture debt, mobility, and AI hardware. Alongside funding, major corporate news included Gameskraft’s layoffs amid regulatory troubles, Meta’s unveiling of new wearable tech, and the Indian Navy’s INR 66 crore deal with Coratia Technologies for indigenous underwater robotics.

    Daily Indian Funding Roundup – 18th September 2025

    Company Amount Round Lead investor(s) Sector
    Wow! Momo $8.5 Mn Series D 360 ONE; Kyrush Investments Quick-service restaurant / F&B tech-enabled chain
    Infra.Market INR 731.5 Cr Series G Silverline Homes (founders); Tiger Global; NK Squared; Accel India; Nexus Ventures; Evolvence India Building materials / Construction / Full-stack supply platform
    Trifecta Capital (Fund IV) $25 Mn Venture debt fund investment International Finance Corporation (IFC) Venture debt fund focused on EVs, fintech, climate tech, AI infra, etc.
    Blue Energy Motors $30 Mn Fresh funding round Nikhil Kamath; Omnitex Industries Heavy-duty electric & LNG trucks / Clean mobility & manufacturing

    Wow! Momo raises $8.5 million in Series D led by 360 ONE

    Quick-service restaurant chain Wow! Momo is raising $8.5 million in its ongoing Series D round, led by 360 ONE with participation from Kyrush Investments. The funds will be used for capital expansion, working capital, and scaling its outlet network, FMCG business, and HORECA operations.

    Infra.Market secures INR 731.5 crore in Series G at flat valuation

    Building materials platform Infra.Market has raised INR 731.5 crore in a Series G round led by Silverline Homes (founders), with investments from Tiger Global, NK Squared, Accel India, Nexus, Evolvence, etc. The round is at a flat valuation (same as previous round). Funds will support its supply of structural and finishing construction products.

    IFC to invest $25 million in Trifecta Capital’s Fund IV

    The International Finance Corporation is set to invest $25 million in Trifecta Capital’s fourth venture debt fund. The fund offers debt financing for Series A and beyond, targeting EVs, financial services, climate tech, AI infrastructure, and expanding into consumer, education, and healthcare.

    Blue Energy Motors raises $30 million from Nikhil Kamath & others

    Heavy-duty truck manufacturer Blue Energy Motors raised US$30 million from Nikhil Kamath and Omnitex Industries. The capital will be used to expand manufacturing capacity and accelerate production of LNG and electric heavy-duty trucks.

    Key Business News for 18th September 2025

    Gameskraft lays off 120 employees amid ban and fraud probe

    Gaming startup Gameskraft has laid off around 120 employees following the Karnataka government’s ban on online betting and the Central Forensic Process’s investigation into a fraud scandal. The layoffs affect staff across departments as the company faces legal and regulatory challenges, aiming to streamline operations during ongoing scrutiny.

    Meta unveils Ray-Ban smart glasses and Neural Band

    Meta has launched the latest version of its Ray-Ban smart glasses along with a new wearable called the Neural Band. The smart glasses are designed to integrate AI-driven features such as live streaming and real-time information access, while the Neural Band aims to enable hands-free device control through neural signals, reflecting Meta’s push into next-gen wearable tech.

    Indian Navy signs INR 66 crore deal with Coratia Technologies

    The Indian Navy has signed a INR 66 crore contract with Odisha-based Coratia Technologies to deploy indigenous underwater robotics. The partnership will strengthen naval capabilities with advanced robotic systems for underwater surveillance, reconnaissance, and operational support, marking a step toward Atmanirbhar Bharat in defense technology.

    Daily Indian Funding Roundup & Key News – 17th September 2025
    India’s startup and business ecosystem on 17th September 2025 witnessed notable funding activity across AI, fintech, consumer brands, and gaming, alongside major corporate developments.
    StartupTalkyStartupTalky News

  • Gameskraft Lays off 120 Employees Amid Ban and Cfp Fraud Scandal

    Gameskraft is one of the biggest real-money gaming companies in India. The company’s name has been in the news a lot, with the real money game ban, financial fraud, and now layoffs. All impacting its business numbers. According to ScanX, Gameskraft suffered a 25% loss in its net profit (from ₹947 crore in FY24 to ₹706 crore in FY25). Sure, tough time calls for tough decisions, and now the burden is on 120 employees who got fired. That brings us to some important questions. How is the company dealing with the layoffs? And what does the future of Gameskraft look like with financial loss and a ban? Learn more.

    Gameskraft webite view right now
    Gameskraft webite view right now

    What’s Happening at Gameskraft?

    The company laid off 120 employees on Thursday, September 18, 2025. Gameskraft had to because:

    Government rules – Online Gaming Bill 2025 (came into effect on August 22, 2025) is the primary reason. Gaming companies right now struggle to make any money, and so does Gameskraft.

    • Two of its major platforms (that made huge money for Gameskraft) were shut down:
    1. Rummyculture
    2. Pocket52

    Tax pressure – The government imposed a 28% GST, plus the one-time accounting changes hit the company right in its pocket. 

    Major Financial fraud by its CFO – The former Chief Financial Officer (CFO) of Gameskraft, Ramesh Prabhu, stole a whopping ₹270 crore.

    • He allegedly faked financial documents to divert the money to his personal account for 5 years. The issue came out when the company was facing major heat from the ban.
    • Gameskraft reported the fraud as a loss in their account books.
    • And filed an FIR at Marathahalli police station in Bengaluru. 

    What About the Employees Who Lost Jobs?

    The company is offering:

    • Severance pay (it’s a payment that is given when an employee loses their job).
    • Leave encashment (means pay for all the used leaves).
    • An extended group health insurance till March 2026.

    Additionally, if the employees want, they can convert the company health plan to an individual policy.

    Gameskraft on Layoffs

    “This has been one of the most difficult decisions in Gameskraft’s journey. Every single Krafter has played a meaningful role in shaping who we are, and we are deeply grateful for their contributions, passion, and belief in our mission,” said, Gameskraft founder Prithvi Singh.

    How Is the Company Doing Financially?

    • Net profit of the company stands at ₹706 crore. The numbers dropped to 25% in FY25 (compared to ₹947 crore in FY24).
    • However, the company’s revenue grew 12% to ₹3,896 crore in FY25 (from ₹3,475 crore in FY24). Then, why lay off people, one might think.
    • Well, this growth is not enough to compensate for the 28% GST and the ban on its two major platforms.

    Industry-Wide Impact

    The real money gaming industry in the country is cutting jobs. And the ban is to blame for:

    • A23 Rummy (Head Digital Works) has cut 500 jobs.
    • Zupee has cut 170 jobs.
    • MPL (Mobile Premier League) is cutting 60% of its workforce.
    • Baazi Games cut 200 people.
    • Games24x7 is reportedly cutting 70% of its employees.

  • Nvidia Invests $5 Bn in Intel, Seals Chip Partnership to Strengthen AI and Semiconductor Edge

    Just weeks after the White House negotiated an unprecedented agreement for the U.S. government to acquire a significant share in the company, Nvidia announced on September 18 that it will invest $5 billion in Intel (INTC.O) and create a new tab, lending its weight to the faltering U.S. chipmaker. Once fresh shares are issued to finalise the deal, the investment will immediately make Nvidia one of Intel’s major shareholders, holding at least 4% of the business.

    After years of unsuccessful turnaround attempts at the renowned American manufacturer, Nvidia’s assistance opened up a new avenue for Intel and caused a 30% increase in the struggling chipmaker’s shares in premarket trading. In March, the business, which was formerly the leader of the semiconductor industry and was said to have placed the “silicon” in Silicon Valley, named Lip-Bu Tan as its new CEO.

     American elected officials, including President Trump, criticised him and demanded his resignation because of his ties to China. After a hastily scheduled meeting in Washington, Intel made the unprecedented decision to grant the US a 10% share in the business.

    What Nvidia and Intel Partnership will Offer?

    Although the agreement calls for Intel and Nvidia to work together to build PC and data centre chips, it is important to note that Intel’s contract manufacturing company—referred to as a “foundry” in the chip industry—will not be producing chips for Nvidia.

    According to the majority of analysts, Intel’s foundry would eventually need to acquire a major client like Nvidia, Apple, Qualcomm, or Broadcom in order to survive. In a statement, Nvidia, whose essential processors are driving a global surge in artificial intelligence, said it would buy Intel common stock for $23.28 a share, which is marginally less than the $24.90 closing price of Intel shares on 17 September.

    That is more expensive than the $20.47 per share price that the US government paid last month for an unprecedented 10% interest in Intel. Taiwan’s TSMC may be at risk as a result of the agreement. Currently, TSMC produces the flagship CPUs for Nvidia, a business that the most valuable corporation in the world may eventually expand to Intel. With Nvidia’s support, AMD, which rivals Intel for data centre chip supply, also stands to lose.

    What this Deal Means to Intel?

    After announcing a $2 billion investment from Softbank and receiving $5.7 billion from the U.S. government, Intel has a rising capital reserve that this deal adds to. At a Deutsche Bank conference last month, Intel’s chief financial officer, David Zinsner, assured investors that the company was in a “good cash position” and would not need much more funding until it saw substantial demand for 14A, a next-generation manufacturing process that it anticipates investing heavily in developing.

    CEO Tan has promised to keep Intel’s operations minimal and only increase production capacity when demand requires it. As part of the planned agreement, Nvidia would package its AI chips, or GPUs, with specialised data centre central processors designed by Intel. The Intel and Nvidia CPUs will be able to communicate more quickly thanks to a proprietary Nvidia technique. Since numerous chips must be connected in order for them to function as a single unit in order to process enormous volumes of data, fast connectivity is a crucial differentiation in the AI business.

    Since Nvidia’s top-selling AI servers with those fast links are currently only available with Nvidia’s own CPUs, the agreement would place Intel on an even playing field and allow it to profit from each Nvidia server.

    Quick
    Shots

    •Intel shares jumped 30% in premarket
    trading following the announcement.

    •Nvidia and Intel to co-develop PC and
    data centre chips but not use Intel’s foundry for Nvidia GPUs.

    •Deal strengthens Intel’s AI
    positioning and challenges Taiwan’s TSMC dominance.

    •Partnership could pressure AMD and
    TSMC while boosting Intel’s relevance in AI servers.

  • Meta Launches Ray-Ban Smart Glasses and Neural Band to Redefine Wearable Tech

    At its Connect event on September 17, Meta CEO Mark Zuckerberg unveiled the company’s newest wearable technology: the Meta Ray-Ban Display glasses and the matching Meta Neural Band. Meta’s first AI glasses with a full-colour, high-resolution in-lens display are the Ray-Ban Display.

    Users can preview images, check messages, and respond to AI prompts without glancing down at their phones thanks to the glasses. The display, in contrast to conventional smart glasses, is made for quick, glanceable interactions and is discrete when not in use.

    What is Meta’s New Neural Band?

    Each pair comes with the Meta Neural Band, a wrist-worn gadget that uses minor hand gestures to control the spectacles by deciphering electrical impulses from the wearer’s muscles. In addition to allowing hands-free navigation, this electromyography (EMG) technology may eventually enable users to discreetly “write” messages using finger motions, as Mark Zuckerberg demonstrated during the presentation. The spectacles, which weigh only 69 g and are modelled after Ray-Ban’s Wayfarer design, integrate microphones, speakers, cameras, and the revolutionary display.

    According to Meta, the display reaches over 42 pixels per degree, which is a leading industry standard for a device of this size. With a battery life of up to six hours for mixed use and 30 hours with the portable charging case, the glasses also come with photochromatic Transitions lenses. Additionally, they have a peak brightness of 5,000 nits.

    The Neural Band is IPX7 water-resistant, comes in three sizes, and has a battery life of up to eighteen hours. Meta highlights that only command events are sent to the glasses; all raw EMG data is processed on-device.

    Pricing of Meta’s New Products

    The Meta Ray-Ban Display will go on sale in the US on September 30 at a few shops, including Best Buy, LensCrafters, Ray-Ban Stores, and Verizon. The price of the sunglasses and band is $799. Early 2026 is when it will be available internationally in Canada, France, Italy, and the UK.

    Zuckerberg presented the launch as a component of Meta’s larger initiative to position wearables with AI as the next computing platform. He said at the launch event that today is the beginning of the next phase for wearable technology in general and AI glasses in particular.

    Quick
    Shots

    •First Ray-Ban smart glasses with
    in-lens, full-color, high-resolution display.

    •Users can preview messages, images,
    and AI prompts without checking phones.

    •Wrist-worn device uses EMG signals to
    navigate glasses with subtle hand gestures.

    •42 pixels per degree display, 5,000
    nits brightness, 6-hour battery, and 30-hour charging case.

    •Lightweight 69 g Wayfarer-style frame
    with microphones, speakers, and cameras.

    •IPX7 water-resistant, up to 18-hour
    battery, on-device EMG processing.

  • 25 Bps Down: What the US Fed Cuts Rates Means for the Indian Stock Market?

    The US Fed has cut interest rates to 0.25%. This move can have an effect on the Indian Stock Market. However, it may not have that much of a significant impact on India as of now. But since Powell pointed to more cuts, there can be bigger changes. Changes such as more investors willing to take risks, dollars flowing into India, and IT seeing gains. Having said all that, the main drivers are still India’s own reforms and the possible trade deal with the US. Here’s about the US Federal Reserve rate cut (on September 17). Learn more.

    What Did the US Fed Do?

    The US Federal Reserve (Fed) cut its benchmark interest rate by 25 basis points (bps) on September 17, 2025. Here’s a simple breakdown:

    • 1 basis point = 0.01%
    • So, 25 bps = 0.25%
    • The previous rate was 4.25%.
    • The new rate is 4%.

    This decision has come to light after the Federal Open Market Committee’s 11:1 vote.

    Why Did the US Fed Cut Rates?

    The US economy in recent times has shown uncertainty and stress, especially in the job market. Inflation is evident but not prominent or uncontrollable at the moment. So the Fed thought it was the best time to cut down a little to prevent any bigger damage later. They called it the “risk management cut.”

    What Did Powell (Fed Chair) Say?

    Notably, the Fed didn’t decide on a preset path. It seems like they will decide later, based on new data. However, he hinted that the Fed will come up with more cuts in the near future, and called it a “dovish” signal.

    Here are the projections:

    • End of 2025: rate could be around 3.6%
    • End of 2026: 3.4%
    • End of 2027: 3.1%

    (Well, this is 25 bps lower than earlier estimates back in June.)

    “The median participant projects that the appropriate level of the federal funds rate will be 3.6 per cent at the end of this year, 3.4 per cent at the end of 2026, and 3.1 per cent at the end of 2027. This path is 1/4 percentage point (25 bps) lower than projected in June,” said Fed Chair Jerome Powell.

    Immediate Effect in the US

    • The Dow Jones (stock market index in the US) jumped to 500 points, later slipped, and then rose.
    • Its volatility at the moment (meaning up-and-down movement).
    • As the cut was expected, the market didn’t react much.

    How Does This Affect India?

    A 25 bps alone will not affect the Indian market, as the investors already price it in. Since Powell pointed out more cuts, these will likely happen:

    • Enhance the global risk appetite so investors will take risks.
    • The returns on US bonds will likely go down.
    • The cuts will weaken the US dollar, and more money will flow into emerging markets like India.
    • If these cuts happen, India will see better foreign investments. 

    Which Indian Sectors/Stocks Could React?

    • Especially the IT companies like TCS, Infosys, HCL Tech, as they earn in dollars. If the cuts happen and the dollar weakens, their revenues will also be affected.
    • Next, the Banks and financials like HDFC Bank, Kotak, SBI, Bajaj Finance, M&M Finance, and PFC will see a positive impact as the foreign inflows can boost them.

    What Experts Say?

    “The Fed indicated and the market expects two more rate cuts this year. However, the expected and discounted rate cut didn’t trigger any reaction in the market. The Fed rate decision is unlikely to impact the Indian market,” said Vijayakumar, Chief Investment Strategist at Geojit Investments.

    “Should the Fed go for one or two additional reductions this year, global risk sentiment may improve — lifting equities, including Indian markets, while easing bond yields and pressuring the dollar,” said Ajit Mishra, SVP of research at Religare Broking.

    “A 25 bps rate cut won’t boost the Indian stock market as it is largely discounted. A cumulative 50 bps or even bigger cut will be a positive for the Indian market,” said G. Chokkalingam, founder and head of research at Equinomics Research Private Limited.

  • Agoda Cuts Customer Support Jobs as Employees Criticize Severance Packages

    In an effort to streamline its operations, online travel agency Agoda announced on September 17 that it has cut off its customer service representatives in China, Singapore, and Hungary. According to a representative for Agoda, the firm has been phasing out customer service positions in its Shanghai, Singapore, and Budapest offices while adding new positions in other regions.

    As it grows its business, this move aims to consolidate Agoda’s customer service teams in places where it has the greatest operational flexibility and expertise. “The layoffs were held ‘unannounced’ during a closed town hall on August 4 and primarily affected customer experience departments,” an anonymous employee from one of the retrenched departments told CNA. The impacted positions, which included regional managers and customer specialists, were a component of Agoda’s multilingual support teams that answered consumer questions.

    Agoda Facing Criticism Over Severance Agreement

    The business is also under investigation for allegedly having a severance agreement that was presented to Singaporean media and told impacted workers not to report the incident to regulatory bodies, trade unions, or government agencies. Additionally, it barred them from bringing claims, mediation requests, or other legal actions against the business in connection with their employment or departure.

    The memo states that workers who violate these conditions would lose their severance benefits and that any money they get must be sent back to Agoda “in full”. The company ‘continues to obey relevant local rules’ and is dedicated to keeping a strong local presence in Singapore, Agoda responded.

     According to a representative for Agoda, affected workers received all the assistance they needed during the changeover, in accordance with industry norms. Employees had the freedom to contact local authorities or look for other legal options during this time. Although it’s yet unknown how many workers were impacted, several reports indicate that Agoda’s Singapore office lost at least 50 jobs.

    Agoda Satisfying Local Work Quota

    Agoda allegedly told employees in many town halls that they were hired “mainly to satisfy the local workforce quota” so that the company could hire more foreigners in Singapore, according to a CNA investigation. Companies are only able to get a certain number of work visas for foreign workers under Singaporean legislation, which is determined by how many local workers they hired in the previous three months.

    The impacted worker informed CNA that they were “disappointed” with Agoda’s choice and that the terms of their employment contract were meant to keep them silent “to avoid causing further bad PR. The Ministry of Manpower (MOM) in Singapore has declared that it is taking the situation seriously and will look into the purported severance arrangement.

     According to a statement from the ministry, it is improper for employers to impose clauses that prevent or discourage workers from contacting the authorities in any circumstance, as this goes against the principles of ethical and responsible employment practices.

    Quick
    Shots

    •Layoffs were carried out unannounced
    during an August 4 town hall, mainly affecting multilingual support teams.

    •Employees allege severance terms
    barred them from reporting to authorities, unions, or pursuing legal action.

    •Singapore’s Ministry of Manpower
    (MOM) is investigating claims of restrictive clauses in severance agreements.

    •Ex-staff allege they were hired
    mainly to satisfy Singapore’s local workforce quota for foreign hiring.

  • Indian Navy Signs INR 66 Crore Deal with Odisha-based Coratia Technologies to Deploy Indigenous Underwater Robotics

    Marking a significant step in India’s pursuit of self-reliance in defence, Coratia Technologies, an Odisha-based startup, has signed a contract worth INR 66 Cr (approx. USD 7.5 million) with the Indian Navy. The deep-tech robotics startup will supply and maintain its indigenously developed Underwater Remotely Operated Vehicles (UWROVs). 

    The agreement, signed in the presence of high-ranking Indian Navy officials, represents the first large-scale induction of India-built UWROVs into active naval operations. Coratia Technologies developed underwater robots, Jalasimha and Jaladuta, as well as Navya (ASV), enabling sonar-based mapping and real-time data analytics powered by AI and ML, serving a dual-use purpose for both the defence and civil sectors. 

    The frugal design delivers advanced capabilities at a significantly lower cost, marking India’s first cost-efficient breakthrough in underwater robotics. “We recognised Coratia’s unique strength in homegrown innovation and its potential to transform critical sectors. By investing, we are not just backing a promising startup but also reinforcing the spirit of ‘Make in India’ and contributing to the vision of becoming a global technology leader,” said Raj Sethia, Founder and Managing Partner, MGF Kavachh. “By reducing India’s reliance on imported foreign technology during a volatile geopolitical period, such innovations support our goal of enabling technological sovereignty,” added Col. Sarjeet Yadav (Retd.), Venture Partner, MGF Kavachh.

    Coratia Technologies recently also raised INR 17.4 Cr (approx. USD 2 Mn) in a Pre-Series A round led by MGF Kavachh, supported by Pontaq Ventures India in July 2025, with plans to scale up R&D initiatives, IPR, and grow its exports to tap rising global demand. The underwater robotics market stands at USD 5.08 billion in 2025, forecasted to reach USD 9.53 billion by 2030, growing at a 13.39% CAGR, as per Mordor Intelligence. 

    Civil and industrial use of Coratia’s UWROV is already in service of clients such as SAIL, Indian Oil, Indian Railways, TATA Steel, among others. UWROVs have wide-ranging applications from dam and bridge inspections to ocean floor mapping and monitoring marine ecosystems, and inspection of offshore energy assets, pipelines, and subsea cables. They also play a critical role in disaster response and water quality monitoring.

    “This is not only a recognition of our capability to design and manufacture mission-critical underwater systems but also symbolises the Navy’s relentless efforts to strengthen India’s research and innovation ecosystem through well-structured initiatives like the iDEX,” said Debendra Pradhan, Co-Founder & CEO, Coratia Technologies. “Induction of indigenous UWROVs not only reduces costs and reliance on foreign suppliers but also combats trade restrictions and tariff uncertainties. We’re here to unlock new possibilities for defence preparedness and supporting India’s blue economy,” added Biswajit Swain, Co-founder & CTO, Coratia Technologies.

    About Coratia Technologies: Coratia Technologies is an Odisha-based deep-tech startup developing advanced autonomous underwater vehicles for dual defence and civilian applications. Founded by Debendra Pradhan and Biswajit Swain, the startup is incubated at National Institute of Technology, Rourkela’s FTBI, STPI Bhubaneswar Electropreneur Park, with support from Startup Odisha and i-Hub, Gujarat. The deep tech underwater robotics company is on a mission to harness indigenous talent and foster innovation to advance India’s technological sovereignty, aligned with the Make in India initiative.  In 2025, it received the Rising Star Award at the Sangam Conclave by MeitY. It has also been recognised as one of India’s most promising deep-tech startups, winning national and international honours including Most Promising Startup by ELCINA, Meet the Drapers India, NASSCOM’s Emerge 50, Boeing BUILD 3.0, and Cochin Shipyard’s USHUS Program. It was also featured on Shark Tank India Season 3, where the founders were offered a deal by Ritesh Agarwal, Founder of OYO.

    Debendra Pradhan, Co-Founder & CEO, Coratia Technologies: Debendra (Deb) leads Coratia Technologies’ product commercialisation roadmap, client, government and investor relations, aligned with domestic and global market demands. Deb earlier worked at Mercedes-Benz Research and Development in Bengaluru and then in Germany as an R&D Engineer. His experience in high-performance automotive engineering sharpened his expertise in simulation, systems integration, and precision engineering skills, which he has since translated into building mission-critical underwater platforms. He was also involved in hands-on innovation projects, which included designing and fabricating a Formula-style race car for Formula SAE India, developing an Autonomous Underwater Vehicle as part of his early robotics work, and building an Ornithopter aircraft that mimicked avian flight. He holds a Master’s degree in Mechatronics and Automation and a Bachelor’s in Mechanical Engineering from the National Institute of Technology, Rourkela.

    Biswajit Swain, Co-Founder & CTO, Coratia Technologies: Biswajit leads R&D, product development, and operations at Coratia Technologies. He played an instrumental role in operationalising Coratia’s underwater robotics platform from incubation into a fully-fledged defence and civilian market-ready product. Biswajit’s multidisciplinary background spanning aerodynamics, mechatronics, CFD, FEA, and sustainable design equips him with the technical expertise to drive Coratia’s ongoing innovation. Before Coratia, he worked at Development Alternatives, New Delhi and then in South Africa, spearheading projects focused on sustainable technologies and innovative engineering solutions. His career began at NTPC and SAIL, where he gained practical experience in machining, manufacturing, and thermal systems. Biswajit has also been involved in projects where he co-designed an electric race car, led the development of a foldable winged ornithopter with Debendra Pradhan, his fellow co-founder (patent filed). He holds a Master’s degree in Mechatronics and Automation and a Bachelor’s in Mechanical Engineering from the National Institute of Technology, Rourkela.

  • Is the U.S. Stock Market Built on AI Hype? Chris Wood Warns of Overinvestment Risk in AI

    The world is in such desperation to invest in AI. But many wonder and want to know if it’s underinvesting or overinvesting. Perhaps, it’s overinvesting, says Chris Wood (speaking to ET NOW), the Global Head of Equity Strategy at Jefferies. He studies stock markets to predict risks and trends, and he is warning about the risks of lower returns and more. Have you heard of AI stock market recommendations? It is when you use AI to decide where to invest money, and more often than not, it recommends investing in AI. So, is the market caught in a loop? Learn more from Chris Wood.

    What Is Chris Wood Saying About the U.S. AI Stock Market?

    U.S. Stock Rally Is All About AI, Not Tariffs or the Economy

    • The U.S. stock market, especially the S&P 500, is going up a lot. Several assume that it is the case because of tariffs and strong economic performance.
    • However, Chris Wood, on the other hand, says it’s because of the AI hype.
    • Many companies are racing to invest in AI, specifically AI capex, meaning capital expenditure/investment in AI infrastructure.

    The Big Drivers Are Only a Few Companies

    • It all started in early 2023 when Microsoft invested in OpenAI, and suddenly, the stock market rally was all powered by a few tech giants.
    • More particularly, the five hyperscalers include Microsoft, Google, Amazon, Meta, and Nvidia.
    • All five made up 50% of all S&P 500 gains.
    • This means that the market isn’t rising broadly, but instead is concentrated in AI stocks. 

    The “AI Arms Race” Effect

    • Wood calls this move of investors an “AI capex arms race” because all the tech giants are just competing to push billions into AI models.
    • Although the companies are planning to spend $350 billion on AI infrastructure this year, the returns are doubtful. It is just going to create a bubble.

    Deepseek Shook Things Up

    • China released DeepSeek, which is an open-source AI model (meaning a free tool), this year. So, how is the company making money? 
    • This is paramount because a significant amount of money is invested in creating the AI, and it is accessible for free, resulting in a waste of resources. And so is it for investors.
    • After the announcement of DeepSeek, the stocks fell sharply and picked up after a while. After this bounce back, stocks rallied again. According to Wood, the investors didn’t learn the lesson. 

    Retail Investors Are Driving the Market

    • Typically, stock markets are driven by institutional investors, such as mutual funds and hedge funds.
    • But now, they are moved mainly by retail investors like regular people buying stocks.
    • Wood outright warns that it’s a risk if you listen to an AI and invest in AI because it says to do so. This is a feedback loop:

    AI says, “Buy AI stocks.”

    People buy.

    Prices go up.

    AI says, “See, it works, now buy more.”

    Risk of Overinvestment Bust

    • According to Wood, if these AI models become commoditized, meaning affordable, then the big investments by hyperscalers will go to waste.
    • Later, it will lead to a burst of the AI bubble, just like the dot-com crash in the U.S. in 1995. 

    Valuation Concerns

    • According to Wood, the U.S. market right now is at an all-time high in price-to-sales ratio. This means the share price is compared to the company’s revenue.
    • And more importantly, he says that the earnings of the companies are artificially inflated via non-GAAP accounting. It is a method that excludes certain costs (of the company) in order to make the profits look better.  

  • Rannvijay Singha Joins blyp as Brand Ambassador

    BLYP, the hyper-local valet and smart parking platform, is proud to announce Rannvijay Singha as its official brand ambassador. Known for his charismatic persona, fearless attitude, and deep connection with the youth of India, Rannvijay perfectly embodies the spirit of BLYP,  a brand built on trust, reliability, and smarter choice.

    blyp (formerly ParkMate), India’s leading smart parking solutions provider, has announced the appointment of actor and youth icon Rannvijay Singha as the face of its brand. The move is part of blyp’s strategy to strengthen its brand presence and connect with a wider audience as it repositions itself with a fresh identity and expanded vision.

    Known for his energetic personality and strong appeal among 90s kids, millennials and Gen Z, Rannvijay will be the face of blyp’s upcoming campaigns that aim to highlight the brand’s upcoming new product launch.

    “We are delighted to have Rannvijay join blyp as our brand ambassador. Rannvijay has been a youth icon since my formative years. I have always been his big fan. His persona of being the reliable, strong willed and trustworthy big bro and his background as an automobile lover fit him the best as the face of blyp. His relatability, authenticity, and strong connect with urban, tier-ii and iii town audiences alike, perfectly align with our mission to redefine parking and mobility in India,” said Dhananjaya Bharadwaj, Co-founder & CEO, blyp.

    “Rannvijay has inspired me personally since my school days. His connection with automobiles and his ability to influence millions make him the perfect face for blyp. With Rannvijay on board, Blyp is set to define a new narrative in urban mobility, shifting users away from outdated parking systems to a more seamless and magical experience. It’s not just about parking anymore. It’s about making the smart move with blyp,” added Abhimanyu Singh, Co-founder & COO, blyp.

    Commenting on the association, Rannvijay Singha said, “I am excited to partner with blyp, a brand that is solving one of the biggest challenges of urban living—parking. Their vision of making the process seamless and digital resonates strongly with me, and I look forward to being part of this journey to make mobility smarter for everyone.”

    About blyp

    blyp is among India’s leading smart parking provider, dedicated to making commuting faster, easier, safer, and more efficient. Formerly known as ParkMate, the company has expanded its offerings to include AI-powered parking systems, instant valet services, secure residential parking, and subscription-based corporate parking solutions. With advanced technologies like computer vision and Bharat Stack, blyp delivers a fully paperless and seamless experience for users across cities. Available on both Android and iOS, blyp’s platform ensures real-time parking availability, instant booking, and enhanced vehicle security. Committed to supporting smart cities and sustainable mobility, blyp continues to innovate and expand its services, helping businesses and individuals navigate urban parking challenges effortlessly.

    Rannvijay Singha Joins Dylect as Brand Ambassador for Car Tech Lineup
    Dylect has named actor and road-trip icon Rannvijay Singha as brand ambassador for its upcoming smart automotive tech range. The company aims to tap into India’s growing road-smart consumer base as it expands into auto tech after clocking ₹33 crore in debut-year revenue.
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  • Daily Indian Funding Roundup & Key News – 17th September 2025: EvoluteIQ Raises $53 Mn, FinBox Bags $40 Mn, Urban Company’s Stellar Market Debut & More

    India’s startup and business ecosystem on 17th September 2025 witnessed notable funding activity across AI, fintech, consumer brands, and gaming, alongside major corporate developments. Key highlights include EvoluteIQ’s $53 million Series B led by Baird Capital, FinBox raising $40 million in a WestBridge-led round, and Urban Company’s impressive stock market debut with a 58% listing premium. Meanwhile, Groww filed for a massive IPO, Ford announced job cuts at its German EV plant, and a corporate fraud scandal involving former CFO Ramesh Prabhu made headlines.

    Daily Indian Funding Roundup – 17th September 2025

    Company Amount Round Lead investor(s) Sector
    EcoSoul Home $20 Mn Equity & debt Not specified Home & lifestyle
    FinBox $40 Mn Series B WestBridge Fintech / Lending
    Supply6 $1.1 Mn Seed Zeropearl VC Supply chain / Logistics
    Lucira $5.5 Mn Seed / Series A Not specified Lab-grown diamond jewellery
    PlaySuper $1 Mn Seed Singapore-based Chimera Gaming / Edtech
    EvoluteIQ $53 Mn Series B Baird Capital AI / Business automation

    EcoSoul Home raises $20 Mn through equity and debt

    EcoSoul Home, a home and lifestyle brand, has secured $20 million through a mix of equity and debt funding. The capital will be used to expand its product portfolio, strengthen manufacturing capabilities, and scale distribution across India. The funding aims to enhance customer experience and support new strategic initiatives to drive growth in the home and lifestyle segment.

    FinBox raises $40 Mn in Series B round led by WestBridge

    FinBox, a fintech platform providing lending and credit solutions, raised $40 million in its Series B round led by WestBridge. The funding will support the company in expanding its technology infrastructure, enhancing its digital lending products, and growing its customer base across India. It also aims to accelerate partnerships with banks and financial institutions for broader market penetration.

    Supply6 raises $1.1 Mn in seed round led by Zeropearl VC

    Supply6, a startup focused on supply chain and logistics solutions, raised $1.1 million in a seed funding round led by Zeropearl VC. The capital will help the company enhance its technology platform, improve operational efficiency, and onboard new clients. The startup plans to optimize logistics processes for SMEs and e-commerce businesses, ensuring faster, cost-effective supply chain solutions.

    Lab-grown diamond jewellery startup Lucira raises $5.5 Mn

    Lucira, a brand specializing in lab-grown diamond jewellery, raised $5.5 million to expand its product offerings and enhance manufacturing capabilities. The funding will also help scale its retail presence in India and explore international markets. Lucira aims to make sustainable and affordable diamond jewellery accessible to a wider audience while emphasizing ethical sourcing and innovation in design.

    PlaySuper raises $1 Mn in seed round led by Singapore-based Chimera

    PlaySuper, a gaming and edtech platform, raised $1 million in a seed round led by Singapore-based Chimera. The funding will be used to develop new gaming and learning features, expand the user base, and improve platform engagement. The startup aims to combine education and entertainment, creating interactive, skill-based games for children and young adults.

    EvoluteIQ receives $53 Mn in funding round led by Baird Capital

    AI-powered business automation company EvoluteIQ raised $53 million in a Series B round led by Baird Capital. The investment will enable global expansion, R&D innovation, and strategic acquisitions. EvoluteIQ plans to strengthen its AI-driven solutions for banking, insurance, healthcare, and telecom sectors, helping enterprises automate processes, improve efficiency, and scale operations seamlessly.

    Key Business News for 17th September 2025

    Groww seeks to raise INR 6,000–7,000 crore through revised IPO filing

    Groww has filed a revised draft with SEBI to raise INR 6,000–7,000 crore through an IPO, combining a large Offer for Sale with a fresh issue. The company, valued between $7–9 billion, will use proceeds to expand into commodities, wealth management, and margin trading. Backed by global investors like Peak XV, Y Combinator, Ribbit Capital, and Tiger Global, Groww reported strong FY25 results with revenue of INR 4,056 crore and profit of INR 1,824 crore.

    Ford to slash 1,000 jobs at German EV plant

    Ford announced it will cut around 1,000 jobs at its electric vehicle facility in Cologne, Germany, citing weaker-than-expected EV demand in Europe. The decision comes despite a $2 billion investment in the plant, which will now move from two shifts to a single-shift production from January 2026. High costs and lack of charging infrastructure have slowed EV adoption, pushing the automaker to streamline operations in its European market.

    From CFO to fugitive: Ramesh Prabhu’s INR 250 crore corporate heist

    Gameskraft Technologies’ former CFO, Ramesh Prabhu, is accused of embezzling INR 250 crore over several years by diverting funds to personal accounts and falsifying investment documents. The money was reportedly used for risky futures and options trades, leading to heavy losses. Prabhu confessed in March 2025 but disappeared soon after, forcing the company to write off the losses and shut down platforms like RummyCulture and Gamezy.

    Urban Company lists at 58% premium in stock market debut

    Urban Company made a strong entry into the Indian stock market, listing at INR 162.25 per share on NSE, nearly 58% above its issue price of INR 103. The INR 1,900 crore IPO, heavily oversubscribed over 100 times, included both fresh issue and Offer for Sale components. Proceeds will be directed towards technology investments, cloud infrastructure, marketing, and general corporate purposes. The company posted a 38% revenue growth in FY25, along with improved profitability.

    Daily Indian Funding Roundup & Key News – 16th September 2025
    India’s startup and business ecosystem on 16th September 2025 was abuzz with significant developments across healthtech, fintech, consumer electronics, and enterprise IT
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