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  • ED Cracks Down on Probo, INR 284 Cr Seized in Major Opinion Trading Raid

    On 9 July, the Enforcement Directorate (ED) said that it had begun a significant crackdown on the illicit online betting site “Probo,” carrying out search operations on July 8 and 9 throughout its four Haryana locations.

    The online platform “Probo” was created by Probo Media Technologies Pvt. Ltd., and its promoters, Sachin Subhaschandra Gupta and Ashish Garg, were the targets of searches conducted in Gurgaon and Jind under the Prevention of Money Laundering Act (PMLA).

    According to the study, international companies with headquarters in Mauritius, the Cayman Islands, and other offshore locations have contributed INR 134.84 crores in equity to Probo.

    ED’s Action After Various FIRs Filled Against the Firm

    Following several First Information Reports (FIR) filed in Gurugram, Palwal (Haryana), and Agra, the ED started action against Probo for allegedly deceiving customers with promises of making money through “yes or no” questions.

    The FIRs claim that what seemed to be a respectable skill-based game was actually a type of betting that encouraged compulsive gambling behaviours under the pretext of opinion trading on subjects like election outcomes.

    The ED confiscated a number of digital records and damning documents, frozen investments totalling INR 284.5 crore in shares and fixed deposits, and three bank lockers that belonged to the accused.

    The FIRs said that Probo shunned Know Your Customer (KYC) authentication and lacked security measures to stop children from using the software. In order to entice new members, it also featured deceptive ads that advertised betting under the pretext of “opinion trading.”

    According to the ED’s inquiry, the games on Probo were completely based on chance and had a framework that was exactly the same as gambling: binary “yes/no” questions with just two possible answers.

    What is Probo?

    Probo, an event trading website founded in 2019 by Gupta and Garg, enables users to exchange their thoughts about upcoming events in a variety of fields, including politics, cricket, and finance.

    Supported by well-known companies like Elevation Capital and Peak XV Partners, Probo has apparently garnered over $28 million in funding so far. Probo’s action follows the Haryana government’s notification of the Prevention of Public Gambling Act, 2025, which aims to deter and punish public gambling as well as sports and election betting.

    The company’s sales increased by 5.4 times to INR 459 crore from INR 86 crore in FY23 during the fiscal year that ended in March 2024.

    In the meantime, the company’s FY24 profits shot up to INR 92 crore. The business has not yet submitted its FY25 financial statements.

    Probo Responds to ED Action

    In response to the Enforcement Directorate’s ongoing investigation, Probo Media Technologies Pvt. Ltd. has issued a formal statement asserting its cooperation with authorities and reaffirming its compliance with Indian laws.

    The company stated that it operates as a skill-based information marketplace aimed at democratising event-based trading in India. Probo emphasised that it serves over 4.2 crore users and aims to democratise access to information-driven trading, which it claims offers financial opportunities not available through traditional markets.

    “In light of recent developments, we would like to assure all stakeholders and the public that Probo is cooperating with law enforcement authorities in the ongoing inquiries,” the company said in an official statement. “We remain confident that our commitment to compliance and innovation will help us emerge stronger through this process.”

    Probo also expressed its trust in India’s regulatory framework and stated that user safety and regulatory adherence remain top priorities. The company added that it will continue to share updates as appropriate.

  • Shaan Patel Asset Management Launches AIF, Targets INR 200 Crore Corpus

    • An open-ended Category III AIF, scheduled to launch on 10th July 2025
    • The fund has already secured commitments of INR 25 crores from investors ahead of its launch

    Shaan Patel Asset Management, a professional AMC actively managing investor money to grow wealth, has announced the launch of its flagship Category III Alternative Investment Fund (AIF) with an initial target corpus of INR 200 crores. 

    The AIF will adopt a flexi-cap approach, investing across large, mid, and small-cap stocks with a maximum 10% allocation per individual stock. The portfolio will remain highly focused, comprising 12–15 high-conviction ideas identified using a proprietary blend of deep fundamental research and quantitative analytics.

    By leveraging an “intelligent churning” model powered by quant signals, the fund aims to extract alpha multiple times along a stock’s growth journey, entering and exiting positions based on dynamic valuations. This approach reduces average purchase costs, locks in partial profits, and enhances compounded returns over time.

    The fund will be benchmarked against the NIFTY 500 Index and aims to consistently outperform it while maintaining robust risk controls.

    Speaking on the launch, Mr. Shaan Patel, CIO at Shaan Patel Asset Management, said, “We don’t believe in simply buying and holding indefinitely. Instead, we actively monitor every position, taking partial exits when valuations stretch and re-entering when opportunities arise — creating multiple points of alpha generation along the way. Our quant-driven signals guide these moves with discipline and precision, enabling us to reduce drawdowns, lower average costs, and compound returns more effectively. We firmly believe that the future of investing lies in being active, data-driven, and adaptive rather than passive and reactive. This approach empowers us to consistently capture market opportunities while protecting investor capital on the downside.”

    The new AIF is designed for sophisticated investors seeking an alternative to traditional long-only approaches. It aligns with rising investor demand for active, quant-based, and sector-focused strategies, particularly among HNIs and family offices looking to navigate market volatility and capitalize on opportunities in fast-growing sectors like AI, EVs, FinTech, and renewable energy.

    The minimum investment amount is set at ₹1 crore, catering to investors looking to build long-term wealth through a differentiated, systematic, and forward-looking approach.

    About Shaan Patel Asset Management 

    Shaan Patel Asset Management (SPAM) is a SEBI-registered Category III AIF offering precision-driven, high-conviction investing for sophisticated investors. The firm distinguishes itself through a blend of quantitative rigor, future-focused sector targeting (including AI, FinTech, Green Energy, and Semiconductors), and active risk management, all powered by proprietary data-led investment models.

    SPAM utilises a Flexi-Cap approach, dynamically investing across large-cap, mid-cap, and small-cap stocks based on conviction rather than fixed allocations. The company prioritises businesses with sustainable competitive advantages that is solely identified if it qualifies company parameters check, strong financials, low leverage, prudent capital allocation, and long-term earnings visibility along with intelligent quantitative churning during the holding period. While targeting high-growth sunrise sectors, SPAM remains grounded in robust fundamental analysis to ensure scalable business potential.

    Led by an agile team with diverse expertise in equity research, portfolio management, and corporate finance, SPAM fosters a challenger mindset. Disciplined risk management and capital preservation are central to its philosophy, aiming for outperformance without unnecessary volatility to achieve long-term wealth creation.

  • Trump’s Tariff Bomb: 50% on Copper, 200% on Pharma — What It Means for India

    On July 9, US President Donald Trump declared a 50% duty on copper imports into the US. Additionally, Trump has threatened to levy 200% tariffs on pharmaceutical imports after a year.

    Trump’s action may have an effect on other economies, such as India, which exports these vital commodities to other nations, even if his goal was to increase the US’s production and manufacturing of these goods.

    One of the biggest manufacturers of generic medications and a newcomer to the copper-based product manufacturing industry, India exports pharmaceutical products to western countries like the US.

    Even though India and the US are nearing the end of their bilateral trade talks, the tariffs on pharmaceuticals and copper are predicted to cause disruptions in the industrial supply chains, where India wants to take the lead.

    Tariffs Placed After National Security Assessment –Trump

    After conducting a comprehensive national security analysis, the US president announced a 50% tariff on copper imports that would take effect on August 1. According to Trump’s post on Truth Social, the Department of Defence uses copper the second most.

    He went on to say that the metal is utilised in important fields, including semiconductors, aeroplanes, and ammunition, which includes missile defence systems and hypersonic weaponry.

    Trump threatened to impose a 200% tax rate on pharmaceutical imports into the US during a meeting of the US Cabinet earlier this week.

    He stated that taxes would be applied gradually. “There are going to be tariffs at a very high rate, like 200%,” he remarked. “We’ll give them a specific amount of time to sort things out. “I’ll give them a year or a year and a half,” Trump added. The statements are just one more step in Trump’s protectionist agenda, which is spreading to other industries and areas.

    Copper Tariff to Impact India

    According to a media report, India’s global copper and copper product exports in the fiscal year 2024–2025 totalled around $2 billion, of which $360 million, or about 17%, came from the US. India is the third-largest market for US copper exports, behind China and Saudi Arabia.

    Global supply networks are predicted to be disrupted if Trump’s administration increases its own copper mining and begins to hoard the metal, which might raise prices and manufacturing costs in India. Industry executives, however, contend that since India lacks copper, the impact of such a policy would be minimal.

    According to a news agency, India imported one million tonnes of copper concentrate in 2023, with a sizable amount of these imports originating from a small number of nations, including Indonesia, Chile, and Peru.

  • Clean Fanatics Raises $2 Million in Seed Round Led by Inflection Point Ventures

    • Clean Fanatics is a premium platform for expert home cleaning, painting, polishing, and civil & renovation services.
    • Currently generating an MRR of Rs 2 crore from Bangalore alone, with over 2,500 homes serviced every month
    • The Company has grown its revenues 8X in the last 24 months
    • Funds raised to be used for team expansion, tech upgradation and entry into new verticals. Clean Fanatics has earned over 22,000+ Google reviews with an outstanding average rating of 4.9 out of 5
    • So far, Inflection Point Ventures has invested over INR 800 Cr across 220+ startups.

    Clean Fanatics, a premium marketplace specialising in high-quality home services, has raised INR 17 Cr ($2M) in a seed round led by Inflection Point Ventures, one of India’s largest angel investing platforms. The round also saw participation from Blume Founders Fund, Let’s Ventures, Trica, TiE Angels, and other prominent angel investors. The funds will be directed towards team expansion, technology enhancement, and scaling new verticals such as civil construction and home renovation.

    Founded in October 2024, Clean Fanatics offers services like deep cleaning, painting, marble polishing, and civil renovations. The Company is led by an experienced founding team: CEO BJ Arun is a serial entrepreneur and has worked as CEO, July Systems (acquired by Cisco Systems in 2018), Librato (acquired by SolarWinds in 2014), and California Digital. Arun has also served as President of TiE Silicon Valley (2020), as well as Chairman of TiE Global Board of Trustees (2022).  COO Nishant Prasad, an alum of NIT Surat and IIM Mumbai, has worked in senior roles in companies like Glenmark, Hewlett-Packard, and Renoir Consulting. He has been running profitable home services organisations for the past 10+ years.

    Mitesh Shah, Co-Founder, IPV says, “The home related services is a large untapped market with only a handful of companies currently addressing this gap. Given the geography of India and rise in disposable incomes, we believe that this market will continue to grow and platforms that are able to provide best in class services to their consumers and good business to their service partners will be the ultimate winners. Clean Fanatics is setting itself apart by providing on time and highly professional services to its customers and we are excited by how this market is shaping up.”

    Clean Fanatics’ people-first approach has led to 40% of their revenue coming through word-of-mouth referrals. Backed by continuous innovation in technology and operations, the company delivers high-quality services faster and more efficiently. Operating at a significant scale, the company currently services over 2,500 homes every month and generates an average of INR 2 crore in monthly revenue from Bangalore alone.

    “Partnering with Inflection Point Ventures to raise funds has been a highly rewarding experience. Their due diligence process was exceptionally rigorous, reflecting the depth of their commitment to backing businesses with strong fundamentals. We’re excited to have IPV as part of our journey as we scale Clean Fanatics to new heights,” says BJ Arun, Co-Founder & CEO, Clean Fanatics.

    “What stood out with IPV was the speed, transparency and the will to go beyond the regular funding diligence,” says Nishant Prasad, Co-Founder & COO, Clean Fanatics. 

    Clean Fanatics has grown its top line by 8x over the past 24 months. Its strong focus on partner satisfaction has led to a 95% retention rate, underscoring the strength of its model.

    The home services industry in India is estimated to be a $20 billion opportunity. As new service verticals get added and given the repeat demand by the customers, Clean Fanatics is positioned right to capture this market in some high-repeat segments and grow further from there. 

    About Clean Fanatics

    Founded in October 2024, Clean Fanatics is a tightly coupled premium marketplace specialising in high-quality home services, including deep cleaning, professional painting, marble polishing, and comprehensive home renovations. In a highly fragmented industry, we stand out by consistently delivering exceptional service through our team of rigorously trained professionals.

    For customers, we ensure peace of mind through consistent, top-tier results and a seamless service experience. For partners, we offer fair compensation, steady opportunities, and a culture of mutual respect, empowering them to grow with us.

    This dual commitment to quality and loyalty forms the backbone of CF’s mission: to elevate every home we touch while creating lasting relationships that stand the test of time.

    About Inflection Point Ventures and Physis Capital

    Inflection Point Ventures (IPV) is an angel investing platform with over 23,500+ CXOs, HNIs, and Professionals to invest in startups. The firm supports new-age entrepreneurs by providing them with monetary & experiential capital and connecting them with a diverse group of investors. IPV has launched a $50 Mn CAT 2 VC fund, Physis Capital, to invest in Pre-Series A to Series B growth-stage start-ups. The fund has already deployed capital in six startups so far, with a few deals in advanced stages of the pipeline.

    FitFeast Raises INR 5.5 Cr led by IPV, Welcomes Shane Watson as an Investor and a Brand Partner
    Gurgaon, 3rd July 2025 – FitFeast, a taste-first protein brand has raised INR 5.5 Crore in seed round from Inflection Point Ventures (IPV), one of India’s largest angel investing platforms. The round also saw participation from Raghav Singhal (Founder at Swasthum Wellness), Santosh Govindaraju (Sustainability Executive, Investor and Board
    StartupTalkyShubham Kumar

  • Nvidia Shatters Records, Hits Unprecedented $4 Trillion Valuation on Wall Street

    On July 9, Nvidia became the first business to reach $4 trillion in market value, marking a significant milestone in Wall Street’s wager that AI will revolutionise the economy. Nvidia surged to $164.42 just after the stock market opened, valuing the company at more than $4 trillion.

    After then, the stock gradually declined and finished slightly below the record barrier. Investor optimism that artificial intelligence (AI) will usher in a new era of robots and automation is demonstrated by the fact that Nvidia, which was founded by electrical engineer Jensen Huang, currently has a market value larger than the GDP of France, Britain, or India.

    With Nvidia outperforming major indices, the California semiconductor company’s recent gain is contributing to a comeback in the overall stock market. The fact that U.S. President Donald Trump has retracted his most severe tariffs, which rocked world markets in early April, is partly to blame for this.

    Rising US Stocks Despite Hurdles Created by Trump’s New Tariff Strategy

    US stocks have remained high despite Trump’s recent announcements of new trade steps; on July 9, the tech-focused Nasdaq set a new record.

    Nvidia’s agreement to construct AI infrastructure in Saudi Arabia during a Trump state visit in May demonstrated a possible positive in the US president’s trade policies, even though the company still has to contend with US export restrictions to China and more general tariff concerns.

    As interest in artificial intelligence has grown over the past two years, Nvidia’s ascent to $4 trillion sets a new record. The company’s stock has increased by almost 21% so far in 2025, while the Nasdaq has increased by 6.7%.

    Nvidia’s Future Plan

    Huang, who was born in Taiwan, has dazzled investors with a number of innovations, such as its major offering, graphics processing units (GPUs), which are essential to many generative AI projects in fields like robotics, autonomous driving, and other cutting-edge fields. Additionally, the business presented its next-generation Blackwell technology, which increases processing power.

    Among its innovations are “real-time digital twins,” which greatly reduce the time needed for production development in a variety of industries, including manufacturing and aerospace. However, early in 2025, China-based DeepSeek upended the generative AI market with a low-cost, high-performance model that challenged the dominance of OpenAI and other high-spending giants, halting Nvidia’s winning streak.

    During this time, Nvidia’s market value dropped by about $600 billion in a single session. Huang has defended against U.S. export restrictions while applauding DeepSeek’s arrival. In spite of a $4.5 billion hit from US export restrictions that restricted sales of advanced technology to China, Nvidia posted earnings of about $19 billion in the most recent quarter.

    AI momentum remained high, according to the first-quarter earnings period. Several of the largest tech firms, including Amazon, Google, Microsoft, and Meta, are vying for supremacy in the multibillion-dollar AI race.

  • Shock Exit: X CEO Linda Yaccarino Resigns After Just Two Years of Joining

    Linda Yaccarino, the CEO of social media site X, has made her decision to leave her position. For the last two years, she has been in charge of Elon Musk’s company, X. During her X announcement, Yaccarino thanked Musk for entrusting her with the duty of defending free expression and “turning X into the Everything App.” Yaccarino announced in a statement on X that she has made the decision to leave her position as CEO of X after two amazing years.

    When @elonmusk and Yaccarino first discussed Musk’s vision for X, she understood it would be a once-in-a-lifetime chance to fulfil this company’s incredible goal.

    She is incredibly appreciative of him for giving her the authority to defend free expression, turn the business around, and make X the Everything App. She takes a great deal of pride in the X team because of the incredible business turnaround we have achieved together.

    She also mentioned that the team began with the crucial preliminary work required to restore advertiser confidence and prioritise user safety, particularly for youngsters.

    From groundbreaking inventions like Community Notes and, shortly, X Money, to bringing the most recognisable voices and content to the platform, this team has worked tirelessly. The best is still to come, though, as X begins a new chapter with @xai.

    X Truly Digital Town Square: Yaccarino

    X is a “truly digital town square” for all voices and the most potent culture signal in the world, she said, emphasising that they couldn’t have done it without the help of their users, commercial partners, and the “most innovative team.”

    “X is a true digital town square for all voices and the world’s most powerful culture signal,” she added in the piece on X. It would not have been possible for the social media platform to accomplish that without the help of its users, commercial partners, and the world’s most creative workforce. As X keeps changing the world, she will be supporting them all.

    Yaccarino as X CEO

    In 2023, almost six months after Musk’s acquisition of the social media network, she joined X, which was then known as Twitter. She was the chair of NBCUniversal Media’s worldwide partnerships and advertising before joining X.

    The network underwent a number of changes during her tenure as CEO, including a rebranding from Twitter to X and other crises.

    Following Musk’s acquisition of X, advertisers left the website as he started enforcing a number of content moderation regulations and reactivating accounts that had been blocked, including US President Donald Trump’s.

    At times, Musk thwarted her attempts to entice sponsors back to the site. After it was revealed that X was running advertisements adjacent to white nationalist content in 2023, Musk blasted advertisers who had chosen to stop using the site.

    Musk wants to merge the social networking platform with his artificial intelligence (AI) company, xAI, which is why she left X, as per various media reports. Elon Musk announced earlier in March that xAI has purchased X for USD 45 billion.

  • Daily Indian Funding Roundup & Key News – 9 July 2025: Zepto Eyes $500M Raise, Starlink Gets India Nod & More

    Startups led the way on 9 July 2025, with Zepto reportedly raising $500 million and fresh funding going to Chai Bisket, Belong, and Green Aero. On the corporate front, Apple named Sabih Khan as its new COO, and Starlink received final approval to launch services in India. Here’s your quick roundup of the day’s key funding and business news.

    Daily Indian Funding Digest – 9 July 2025

    Startup Sector Round Type Amount Raised Lead Investors
    Chai Bisket Regional Content & Media Seed Round $5 million InfoEdge Ventures, General Catalyst
    Enercomp Drone Tech Bridge Round ₹2 crore Bestvantage Investments (advisory)
    JEH Aerospace Aerospace Manufacturing Strategic Investment Undisclosed IndiGo Ventures
    Varthana NBFC / Edtech Lending Debt Funding ₹159 crore Various Lenders
    Green Aero Climate Tech & Aerospace Seed Round $1.6 million Pi Ventures
    Belong Fintech (NRI-focused) Seed Round $5 million Elevation Capital

    📰 Funding News Breakdown

    Chai Bisket Raises $5 Million in Pre-Series A

    Hyderabad-based regional content platform Chai Bisket has secured $5 million in a Pre-Series A round led by InfoEdge Ventures and General Catalyst. The funding will be used to expand content IPs, grow its Telugu OTT offerings, and explore other vernacular markets.

    Enercomp Secures INR 2 Crore in Bridge Round

    Drone-tech startup Enercomp Solutions Pvt. Ltd., based in Ahmedabad, has raised INR 2 crore in a bridge round. The round was advised and facilitated by Bestvantage Investments, aimed at accelerating its drone fleet development and software capabilities.

    Varthana Raises INR 159 Crore in Debt

    Bengaluru-based NBFC Varthana, which finances affordable private schools, has secured INR 159 crore through debt funding from multiple financial institutions. The funds will support expansion into Tier 3 and 4 markets and further product innovation.

    Green Aero Raises $1.6 Million in Seed Round

    Climate-tech startup Green Aero, which develops energy-efficient solutions for aerospace and defence, has raised $1.6 million in a seed round led by Pi Ventures. The funding will be used to advance R&D and bolster the engineering team.

    Belong Raises $5 Million to Serve NRI Users

    Fintech startup Belong, focusing on financial services for non-resident Indians, has raised $5 million in a seed round led by Elevation Capital. The funds will go towards product development, regulatory compliance, and expanding customer acquisition globally.

    JEH Aerospace Bags Strategic Investment from IndiGo Ventures

    JEH Aerospace, specialising in precision aerospace manufacturing, has received a strategic investment from IndiGo Ventures. While the investment amount remains undisclosed, the funds will be used to scale up JEH’s domestic manufacturing of high-precision aerostructures and further India’s aerospace capabilities.

    🗞️ Key News Highlights for 9 July 2025

    Zepto Raising $500 Million at $7 Billion Valuation

    According to a Moneycontrol report, quick-commerce unicorn Zepto is planning to raise $500 million at a $7 billion valuation. The round is expected to include both existing and new investors, significantly strengthening its competitive position in the instant grocery delivery space.

    BlackBuck Receives INR 28.55 Lakh Tax Demand; Plans Name Change

    Logistics platform BlackBuck (Zinka Logistics Solutions) has received a tax demand of INR 28.55 lakh for FY 2017–18 due to non-dedication of TDS, according to a notice from the Assistant Commissioner of Income Tax, Bengaluru, dated 7 July 2025. The company plans to appeal and does not expect any significant financial impact. It is also seeking regulatory approval to change its legal name to BlackBuck Limited to align with its brand identity.

    U.S. Court Holds Byju Raveendran in Civil Contempt of Bankruptcy Orders

    A U.S. bankruptcy court in Delaware has found Byju Raveendran, founder and CEO of BYJU’s, in civil contempt for repeatedly failing to comply with court orders related to BYJU’s U.S. unit, Byju’s Alpha. The court has imposed a $10,000 per day fine, effective from 1 July 2025, until he brings himself into full compliance.

    Starlink, the satellite-internet arm of SpaceX, has received final regulatory approval from the Indian Government, having secured both the Department of Telecommunications (DoT) licence and the GMPCS licence from the telecom and space authorities. This clears the way for its commercial rollout in India.

    Apple Appoints Sabih Khan, Indian-Origin, as New COO

    Apple has officially confirmed that Sabih Khan, originally from Moradabad, Uttar Pradesh, and currently its Senior Vice‑President of Operations, will become the company’s new Chief Operating Officer later this month. He succeeds Jeff Williams, who will continue overseeing Apple Watch, design and health initiatives until his retirement later this year. Khan has been at Apple since 1995 and is credited with diversifying global supply chains and advancing sustainability efforts.

    Goldman Sachs Appoints Former UK PM Rishi Sunak as Senior Adviser

    Global investment bank Goldman Sachs has announced the appointment of former UK Prime Minister Rishi Sunak as a Senior Adviser, effective from 8 July 2025. Sunak, who previously worked at Goldman Sachs in London in the early 2000s, will provide strategic advice on global macroeconomic and geopolitical matters.

    Daily Indian Funding Roundup & Key News – 8 July 2025
    Here’s a quick look at the top startup funding deals and key business developments in India on 8 July 2025. From early-stage capital raises to major acquisitions and policy moves, here’s everything you need to know.
    StartupTalkyStartupTalky News

  • Drone-Tech Startup Enercomp Raises INR 2 Crore Bridge Round Advised by Bestvantage

    Bestvantage Investments, a boutique investment advisory firm connecting high-growth startups with strategic capital, has successfully advised and facilitated an INR 2 crore bridge funding round for Enercomp Solutions Pvt. Ltd., one of India’s fastest-growing drone technology startups. The round was led by marquee angel investors, with the capital earmarked to accelerate Enercomp’s product innovation, scale operations, and deepen its AI-powered drone software stack.

    The funding marks another strategic milestone for Bestvantage, known for enabling capital-efficient growth for deep-tech ventures across India and the Middle East. With this round, Enercomp is set to expand its manufacturing capacity, invest in cutting-edge drone operating systems, and build execution capabilities for large-scale national deployments.

    “We backed Enercomp because it sits at the intersection of hardware and software and has demonstrated capital efficiency, IP-led innovation, and sector-wide relevance. This deal is a strong example of how strategic capital can accelerate the ambitions of deep-tech ventures,” said Raman Sharma, Founder & CEO of Bestvantage Investments.

    “With India’s drone market projected to reach $13 billion by 2030, we are building not just products, but foundational technology infrastructure for the sector. This bridge round will help us deepen our IP portfolio and strengthen our delivery capabilities for national-scale projects.” said Jatin Patel, Co-Founder & Director, Enercomp.

    Enercomp, known for its end-to-end capabilities across drone manufacturing, services, and GIS software, will use the capital infusion to scale R&D, expand its AI-enabled drone operating system, and grow its national project execution team. Enercomp has earmarked INR 8 crore in strategic investments for the coming year to fuel this expansion.

    The latest round comes on the back of continued business momentum. Enercomp has grown at a compounded annual rate of 1.8x, with revenues rising from INR 3.1 crore in FY22-23 to INR 5.6 crore in FY23-24, while maintaining profitability. In the current fiscal (FY24-25), the company has already recorded INR 4.2 crore in revenue and holds an active order book of over INR 9 crore, signaling strong revenue visibility and client trust.

    Enercomp has raised INR 6.9 crore across previous rounds, with valuations increasing from INR 12.5 crore to INR 60 crore. The founding team retains over 80.5% equity, including a 4% ESOP pool, underscoring long-term alignment and strategic control.

    Operating at the intersection of hardware, services, and software, Enercomp’s integrated offerings include: Indigenous drone manufacturing, Drone-as-a-Service (DaaS) models, and a proprietary GIS analytics platform.

    With over 70% Enercomp’s revenue coming from product sales, Enercomp’s core technology advantage is clear. Its clientele includes some of India’s leading infrastructure, agriculture, and energy players such as Tata Projects, Reliance, Mahindra Susten, and L&T, along with several government departments and state utilities.

    The company has developed seven proprietary drone models including VTOL, fixed-wing, and surveillance variants that are already commercially deployed. Its software dashboard is actively used by enterprise and government clients to analyze and visualize mission-critical data.

    This successful round closure advised by Bestvantage Investments not only accelerates Enercomp’s mission but also cements its place among India’s most promising and capital-efficient deep-tech startups.

    About Bestvantage Investments

    Bestvantage Investments is a boutique investment advisory firm that connects high-potential startups with strategic investors across India and the Middle East. Founded by Raman Sharma, Bestvantage specializes in deal sourcing, investment structuring, and capital raising for early to growth-stage companies. With a strong network of family offices, venture funds, and institutional investors, the firm enables businesses to unlock growth opportunities through strategic capital partnerships.

    About Enercomp Solutions Pvt. Ltd.

    Enercomp is a deep-tech drone technology company based in Ahmedabad, India, specializing in indigenous drone manufacturing, drone-as-a-service (DaaS) solutions, and GIS-based data analytics. With a strong IP portfolio including seven proprietary drone models, Enercomp serves clients across infrastructure, agriculture, energy, and government sectors. The company combines cutting-edge hardware and AI-powered software to deliver end-to-end aerial intelligence solutions. Profitable and capital-efficient, Enercomp is building the next generation of unmanned aerial systems to power India’s rapidly growing drone economy.

  • Chai Bisket Raises $5 Million Seed Round Led by InfoEdge Ventures and General Catalyst to Launch Chai Shots – A Regional-First Microdrama OTT Platform

    Chai Bisket, one of South India’s most influential digital content companies, has announced the successful close of a $5 million seed round led by InfoEdge Ventures and General Catalyst. The funding will power the launch and growth of Chai Shots, a mobile-first, short-form OTT platform designed to deliver premium fiction in ultra-short formats to India’s next billion entertainment consumers.

    Chai Shots is a trailblazing new storytelling platform that brings together everything modern audiences crave – high-quality dramas, emotionally resonant narratives, and mobile-first access – all in two-minute episodes. Designed for Gen Z as well as the rapidly growing Tier 2 and Tier 3 audiences, the app will launch with original content in Telugu and scale across multiple languages in the coming months. Unlike traditional OTTs built for drawing rooms and family viewing, Chai Shots is built for individuals on the move – personal, portable, and deeply cultural.

    Founded by Sharath Chandra and Anurag Reddy in 2015, Chai Bisket has spent the last decade shaping the regional content ecosystem. Its YouTube channels and digital content platforms have clocked over 2 billion views, attract more than 50 million monthly video views, and have produced a massive library of thousands of videos. The company’s storytelling footprint spans across four theatrical films, including the acclaimed *Major*, and numerous blockbuster web series and short dramas, many of which have gone viral and become cultural staples. Notably, the team has been producing short dramas consistently since 2021, long before the format became widely adopted. With a 100+ member team based in Hyderabad, Chai Bisket brings full-stack capabilities across content creation, digital strategy, and audience building, now extending that expertise into technology and product.

    The marquee angel investor group backing the company reflects the belief in this vision, including Rana Daggubati (Actor and Entrepreneur), Sriharsha Majety and Nandan Reddy (co-founders of Swiggy), Phanindra Sama (founder of redBus), Rohit Chennamaneni (Co-Founder of Darwinbox), Alakh Pandey and Prateek (co-founders of Ph,sicsWallah), Aravind Sanka, Rishikesh SR, and Pavan Guntupalli (co-founders of Rapido),  Amar Nagaram (founder of Virgio), TiE Nizamabad and others.

    Chai Bisket Angel Investors
    Chai Bisket Angel Investors

    “We’re extremely bullish on microdramas as a format, especially in regional markets like Telugu, Tamil, Malayalam, and Kannada, where there’s both strong demand and high willingness to pay for original content. In this space, content is the product and the Chai Shots team are veterans of the craft, with over a decade of experience in consistently delivering high-quality storytelling. We’re excited to back their vision.”, said Kitty Agarwal, partner at Info Edge Ventures.

    “In today’s world, storytelling lives in the palm of your hand, that’s fast, emotional, and unmistakably local. Chai Shots has built a short-video streaming platform that taps into how India consumes content,” said Rahul Garg, partner at General Catalyst. “This team isn’t just reacting to culture, they’re creating it. We look forward to partnering with Sharath, Anurag & Krishna as they grow.”

    Rana Daggubati, Actor and Entrepreneur, said – “The future of stories is fast, local, and emotional. Chai Shots gets that. I’m excited to be part of the new short culture revolution.”

    Krishna Mohan Varma, who now leads the company’s technology vision, joins Sharath and Anurag as a Co-Founder of Chai Shots. His addition to the founding team brings product leadership, engineering depth, and long-term technology thinking to the heart of the platform.

    “Chai Shots was born out of a clear shift in consumer behavior,” said Sharath Chandra, Co-Founder. “While platforms like YouTube Shorts and Instagram Reels have proven the massive demand for short-form video, the space is still dominated by user-generated content. We believe it’s time to elevate the format – to blend the emotional power of fiction with the speed and convenience of short-form, and to do it at scale, in our languages, and on our terms.”

    “We believe content is culture – and culture is what people scroll, skip, and binge every day,” said Anurag Reddy, Co-Founder. “We’ve spent ten years building a storytelling engine rooted in emotional truth and regional identity. With Chai Shots, we’re taking that to the next level – by creating a scalable entertainment brand made for mobile, powered by creators, and built for the future of India’s digital generation.”

    “I’m excited to be building Chai Shots at the intersection of technology and storytelling,” said Krishna Mohan Varma, Co-Founder. “There’s an immense opportunity to deliver a seamless, intuitive, and emotionally resonant product experience. Our goal is to create not just a video app, but a long-lasting relationship between story, screen, and user.”

    Chai Shots will launch in early access soon and aims to release over 100 original shows in the first six months. The company’s long-term vision is to scale Chai Shots into the go-to entertainment app for India’s short-attention economy – deeply local, highly emotional, and designed for how India watches today.

    About Chai Shots

    Chai Shots is a regional-first, mobile-only OTT platform delivering premium microdramas in 2-minute episodes. Built for India, it blends the emotional depth of fiction with the speed of short-form content, all in regional languages. Coming from the house of Chai Bisket, Chai Shots brings together a powerful mix of content, technology, and marketing expertise to create a new storytelling format for Gen Z and Bharat.

  • FSSAI Warns E-Commerce Giants of Strict Action Over Food Safety Violations

    All e-commerce sites were forewarned by the FSSAI on 8 July to maintain strict food safety and hygiene standards or risk punishment. G Kamala Vardhana Rao, the CEO of the Food Safety and Standards Authority of India (FSSAI), presided over the meeting where the warning was given.

    More than 70 representatives from top e-commerce platforms attended the meeting, which aimed to improve food safety and hygiene standards across the e-commerce food supply chain.

    The CEO reminded the representatives of these platforms that food safety is extremely important and that any failure to follow food safety procedures will be taken very seriously, possibly resulting in harsh consequences.

    Additionally, he emphasised how crucial food safety is in the quickly growing e-commerce industry.

    CEO Issued Various Crucial Directives

    The CEO gave the e-commerce platforms some important instructions during the discussions. On each receipt, invoice, and cash memo given to customers, he instructed them to clearly display their FSSAI License/Registration numbers.

    Additionally, they were requested to include information about the Food Safety Connect App on any documents that are viewed by consumers.

    The need for e-commerce companies to publish thorough information on all warehouses and storage facilities connected to their activities on the FoSCoS platform was also emphasised.

    It was also debated whether food products’ “Date of Expiry/Use By” may be shown on the user interface.

    In addition, the CEO directed all e-commerce platforms to strictly comply with food safety and hygiene regulations in all of their warehouses and storage facilities, making sure that images of these establishments are consistently posted to the FoSCoS web.

    All food handlers participating in the process, including those working in e-commerce, were also required to complete mandatory FSSAI FoSTaC (Food Safety Instruction & Certification) instruction on hygienic procedures.

    Platforms must notify FSSAI of their training schedules and plans. Additionally, they must strictly adhere to all FSS Act regulations and Standard Operating Procedures (SOPs).

    Warehouses to be Registered or Licenced by FSSAI

    A strong emphasis was placed on the importance of all warehouses associated with e-commerce operations being duly registered or licensed by FSSAI.

    To further ensure increased transparency and compliance, e-commerce platforms were also instructed to provide the FSSAI with information about their warehouses, food handlers, and other pertinent data.

    The FSSAI statement said that the food regulator has underlined that everyone in the supply chain, from manufacturing to home delivery, is accountable for compliance and that food safety is a shared duty.

    To guarantee that the entire procedure is incredibly secure for customers, a cooperative approach is necessary.

    The statement went on to say that the FSSAI is unwavering in its resolve to ensure that consumers receive food items that are safe and wholesome, regardless of whether they buy them online or through conventional retail channels.