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  • Virat Kohli Teams Up with Agilitas in a Game-Changing Deal

    Indian Premier League winner Virat Kohli of Royal Challengers Bengaluru has partnered with sports goods manufacturer Agilitas after his contract with Puma was over.

    A media house cited sources indicating that Kohli is thought to have contributed INR 40 crore to the initial instalment. Notably, Abhishek Ganguly, the former head of Puma India, is in charge of Agilitas.

    Ganguly was instrumental in getting the former captain of India to serve as the brand ambassador in 2017. Through his affiliation with Agilitas, Kohli maintains the business partnership he established years prior.

    According to reports, Kohli and Puma struck an eight-year contract for INR 110 crore in 2017 that ended in 2025. At the time, Kohli became one of the brand’s global ambassadors, joining the likes of French football players Thierry Henry and Olivier Giroud, as well as Jamaican sprinters Usain Bolt and Asafa Powell, who had won Olympic medals.

    Kholi’s Role in the New Partnership

    Kohli will be more than just an investor in his new position with Agilitas. The legendary Indian cricket player will be a financial investor in the business and actively contribute to its expansion, which seeks to develop everything associated with sports.

    At Agilitas, Kohli will also actively participate in business choices. Additionally, Kohli’s affiliation with Agilitas will boost sales, which will raise the company’s valuation.

    According to a media report, Kohli’s first investment of INR 40 crore is only the first instalment of a bigger round. He plans to become more involved with Agilitas and provide more funds to the business himself.

    About Agilitas and its Business Operations

    Agilitas will provide everything from manufacturing to retaining in an effort to establish itself as a one-stop sports destination. Mochiko Shoes, which produces footwear for well-known brands like Adidas, Puma, New Balance, Skechers, Reebok, Asics, Crocs, Decathlon, Clarks, US Polo, and more, was previously purchased by it in 2023.

    Agilitas will buy the businesses with the best experts in the industry to build what it cannot create internally. Following the acquisition of the Italian sports equipment giant’s licensing rights, Agilitas will also sell Lotto shoes in India and other countries.

    Kohli’s One8

    In partnership with Puma, Kohli registered the One8 brand in 2016, which had a market value of almost INR 250 crore. ‘Puma One8’ offered a unique selection of products. One8 now intends to use Kohli’s fame among cricket fans to create stores and expand the brand overseas.

    It will resemble the investment made by tennis player Roger Federer in the Swiss sportswear brand On. In collaboration with the Swiss tennis player, a model known as “The Roger Advantage” was developed.

    In addition, Kohli will be a co-creator and brand ambassador for One8. With its apparel and footwear, it might become India’s first aspirational brand to reach a worldwide audience. Additionally, it intends to distribute in major areas, including the US and the UK.

  • Digital Maturity Rises to 58.0; 76% MSMEs to Invest in Cybersecurity in 2025: Study by Vi

    • Vi Business’s Ready for Next digital maturity assessment platform has witnessed participation by over 2 lakh MSMEs in the last 3 years
    • 3rd Edition of the ‘Ready for Next MSME Growth Insights Study 2025’ reports India’s MSME Digital Maturity Index (DMI) rose from 56.6 in 2023 to 58.0 in 2025
    • Cloud and Security gain importance with 70%+ MSMEs planning to increase digital investments
    • Telangana leads with the highest Digital Maturity Index at 71.2, followed by MSMEs in Kerala (63) and Maharashtra (59)
    • Financial Services tops the sector-specific digital maturity list with a DMI score of 66, followed by Transportation (62) and Retail (62)

    On this World MSME Day, Vi Business, the enterprise arm of leading telecom operator Vi, releases the third edition of its flagship ‘Ready for Next MSME Growth Insights Study 2025’.

    As India’s digital economy accelerates, backed by Digital India, Bharat Net and mobile broadband use, smaller businesses are exploring digital tools to enhance operational efficiency and expand their market reach.

    ‘Ready for Next MSME Growth Insights Study 2025’ reflects this positive shift, revealing a rise in the country’s Digital Maturity Index (DMI); however, the digital adoption remains fragmented. With a strong intent, right financial support and access to the right advisory support, India’s small businesses are well positioned to accelerate their digital journey. 

    Commenting on the release of the study, Arvind Nevatia, Chief Enterprise Business Officer, Vodafone Idea Ltd said, “MSMEs in India are clearly moving from digital curiosity to digital commitment — and that’s an encouraging shift. The sharp rise in investment intent around cloud, cybersecurity, and automation shows that small businesses increasingly see technology as a growth enabler, not just a utility. Through Ready for next program, our aim is to celebrate incredible growth journeys of India’s MSMEs – from small towns to global markets, from manual processes to being digital-first enterprises.”

    Highlights from ‘Ready for Next MSME Growth Insights Study 2025’ include:

    South India leads the Digital charge — Telangana Tops National DMI rankings

    India’s national Digital Maturity Index (DMI) rose from 56.6 in 2023 to 57.3 in 2024 and 58.0 in 2025. Regionally, the South leads the digital shift (DMI: 62.9), followed by the West (57.4), East (57.1), and North (55.8).

    Among individual States, Telangana (DMI: 71.2) has emerged as the digital frontrunner. Hyderabad’s transformation into “Cyberabad” — home to global tech firms, government-backed digital infrastructure, and vibrant startup ecosystems — has significantly boosted MSME digital adoption. Kerala (63.7) follows, leveraging its high digital literacy and strong services sector. 

    Maharashtra (59.2) ranks third, supported by Mumbai’s financial services base and Pune’s IT and industrial ecosystem.

    Digital Investment is on the rise; Cloud and Cybersecurity gain importance        

    Digital maturity remains uneven across sectors, but the study reveals a sharp rise in investment intent across the board. Professional Services tops the list of sectors increasing digital transformation budgets, followed by Retail, Logistics, Transportation, Media and Entertainment, Manufacturing, Telecom, Agriculture, Financial Services, and Healthcare. Encouragingly, 72% of MSMEs plan to increase cloud spending, and 76% have prioritized cybersecurity as a response to rising cyber threats. 

    Digital Leadership: Gender Parity Shines Through

    Women entrepreneurs (DMI: 57.4) are closing the gap with men (DMI: 57.7) and even leading in cloud and security uptake in niche sectors like Education and IT though on a small base.

    Entrepreneurs aged 40–60 lead the pack (DMI: 64.0), showing that being digital savvy is no longer just the domain of younger founders (DMI: 57). 

    Digital maturity is growing, but just 12% of MSMEs are fully digitalised, and adoption remains fragmented 

    The study shows a steady increase in Digital Maturity, with the country’s DMI increasing to 58.0 in 2025. However, it also reveals that only 12% of MSMEs have reached full digital maturity, indicating that adoption remains fragmented. 

    While digital tools are being explored across sectors, critical gaps remain in areas like customer engagement technologies and internal collaboration platforms. This signals that intent is rising faster than execution, especially among micro and small businesses, where financial capacity and advisory support continue to be barriers.

    A Crucial Challenge to Digital Adoption 

    While awareness and intent are rising, the pace of digital adoption is still closely tied to financial capacity. The study finds that MSMEs with higher turnover — typically in the INR 50 – INR 100 crore+ range — report significantly greater digital maturity, as they are better positioned to invest in advanced tools across cloud, automation, and customer engagement. 

    In contrast, younger or smaller MSMEs, despite being digitally aware, continue to make measured, phased investments due to budget constraints.

    Vi Business Ready for Next is certified as India’s largest digital advisory for MSMEs by Cyber Media Research (CMR) and has witnessed participation by over 2 lakh MSMEs across 15,000 pin codes and 16 sectors in the past 3 years.

    About Vodafone Idea Limited

    Vodafone Idea Limited is an Aditya Birla Group and Vodafone Group partnership. It is amongst India’s leading telecom service providers. The company holds a large spectrum portfolio including mid band 5G spectrum in 17 circles and mmWave spectrum in 16 circles. The Company provides Voice and Data services across 2G, 4G and 5G platforms and is expanding 5G services across 17 circles. To support the growing demand for data and voice, the Company is committed to delivering delightful customer experiences and contributing towards creating a truly ‘Digital India’ by enabling millions of citizens to connect and build a better tomorrow. The Company is developing infrastructure to introduce newer and smarter technologies, making both retail and enterprise customers future ready with innovative offerings, conveniently accessible through an ecosystem of digital channels as well as extensive on-ground presence. The Company’s equity shares are listed on National Stock Exchange (NSE) and the BSE in India. The company offers products and services to its customers in India under the TM Brand name “Vi”.

    About Vi Business

    Vi Business, the enterprise arm of Vodafone Idea Limited, is committed to providing innovative Telecom solutions that empower businesses across India. With a focus on connectivity and security, Vi Business aims to be at the forefront of technological advancements that drive growth and efficiency.

  • WhatsApp Unveils AI Tool to Summarize Unread Conversations

    The most recent AI use case WhatsApp is providing for its users is generating a list of all the communications you haven’t read.

    The feature is dubbed AI-powered message summaries, as you might expect. It will use the new private computing system that the company has set up especially to protect and encrypt its AI data.

    According to WhatsApp, the new AI feature may be used in both private and group chats, but in order to see the summary, you must actively activate the tool.

    Using Meta AI to Summarise Chat

    According to WhatsApp, these chat summaries are created by Meta AI and are solely viewable to users. WhatsApp, Meta, and the chatbot users used to generate the list are unable to read these summaries.

    They will appear in bullet points, with the private processing label next to the lock icon and a visible-only-to-users label at the top. For the time being, WhatsApp is only making this functionality available to its customers in the US in English; later this year, more areas and languages will be enabled.

    In order to keep the conversations private, secure, and unusable for AI system training, Meta has discussed its own private computing system that runs in a different cloud tier.

    WhatsApp uses Meta AI throughout the platform with great care, and in order to maintain user satisfaction, the platform needs a strong back end.

    WhatsApp is working to put safeguards in place to prevent this from becoming a problem, but AI training is being carried out using our data without the user’s knowledge.

    WhatsApp to Add Ads on its Platform

    The WhatsApp advertising that the Meta-owned messaging firm has formally unveiled won’t appear in users’ calls or chats, so don’t worry. Instead of showing up in users’ personal area, these advertisements will show up in the Updates tab.

    The Updates page, where one may view WhatsApp Status posts, is where Meta is placing them.  Therefore, no, consumers’ private discussions are not being interrupted by advertisements for shoes or shampoo. These sponsored posts, such as Instagram Stories with occasional promotions, will appear between friends’ status updates.

    In an official blog post, WhatsApp stated that these new features will only be available on the Updates page, separate from your private conversations. This implies that a user’s experience remains unchanged if he or she solely uses WhatsApp to communicate with friends and family.

    Minting More Revenue Through this Move

    WhatsApp did not just adopt this notion without any prior planning. Since acquiring WhatsApp, Meta has considered monetising the app and introducing advertisements to make money.

    Meta always had a distinct idea, even though WhatsApp’s initial creators opposed the messaging service’s use of advertisements.  In 2020, they postponed their advertising goals, but they have since returned with a strategy that says it respects users’ privacy.

  • JSW Paints Strikes INR 8,986 Cr Deal to Acquire AkzoNobel India

    In an exchange filing on June 27, JSW Paints Limited stated that it has finalised agreements to buy up to 74.76% of Akzo Nobel India Limited (ANIL) from Akzo Nobel N.V. and its affiliates. The deal was cracket for a maximum consideration under the Share Purchase Agreement of up to INR 8,986 crores, subject to certain closing adjustments.

    The Competition Commission of India must approve the proposed transaction, and ANIL’s public shareholders must complete a mandatory tender offer, or “open offer”.

    The news that JSW Paints would soon sign final or definite agreements to purchase the Indian division of the Dulux paint manufacturer was first reported by a renowned media outlet on June 26.

    JSW Paints Outpaced Others to Crack the Deal

    According to reports from a number of media outlets earlier on May 15, JSW Paints had taken the lead in a fiercely contested deal that also attracted interest from a group including Advent International, Indigo Paints, and Pidilite Industries, a manufacturer of Fevicol.

    Following May 15, the Indian business house and the MNC entered into an exclusive agreement.

    The US $23 billion JSW Group, India’s largest conglomerate with diversified holdings across a range of B2B and B2C industries, including steel, cement, energy infrastructure, automobiles, and paints, includes JSW Paints, the fastest-growing paint firm in India.

    One of the top manufacturers of industrial and decorative paints in India, ANIL is a division of AkzoNobel, a multinational leader in these products with its headquarters located in the Netherlands.

    Deal Expands Product Portfolio of JSW Paints

    JSW Paints is now one of the leading companies in the industry, which is predicted to develop rapidly in the years to come thanks to this game-changing purchase.

    Paints & Coatings is one of the industries in India with the quickest rate of growth, and JSW Paints is one of the fastest-growing paint firms, according to Parth Jindal, Managing Director.

    Some of the most well-known paint and coating brands in the world, including Dulux, International, and Sikkens, are produced by AkzoNobel India. “The firm is thrilled to have them join the JSW family at JSW Paints. JSW Paints hopes to create the paint business of the future in collaboration with the AkzoNobel India family, which includes its partners, customers, and workers,” Jindal added.

    With the help of Dulux’s magic and JSW Paints’ thoughtfulness, we hope to satisfy customers and create enduring value for all of our stakeholders.

    According to AkzoNobel CEO Greg Poux-Guillaume, this deal marks a critical turning point in the company’s strategic implementation.  

    He added further that AkzoNobel India is proud of the talent and brand that have contributed to its success, and it has continuously performed well. With JSW, AkzoNobel is certain that the company is in the capable hands of a long-term partner with extensive local knowledge and aspirations in the industry.

  • JioBlackRock Broking receives SEBI approval to launch brokerage business

    Mumbai, June 27, 2025: Jio BlackRock Broking Private Limited (JioBlackRock Broking), a wholly owned subsidiary of Jio BlackRock Investment Advisers Private Limited (JioBlackRock Investment Advisers), has received regulatory approval from the Securities and Exchange Board of India (SEBI) to commence operations as a brokerage firm in India. 

    JioBlackRock Broking aims to bring affordable, transparent, and technology-driven execution capabilities for Indian investors. The broking entity’s parent company, JioBlackRock Investment Advisers is a 50:50 joint venture between Jio Financial Services Limited (JFSL) [BSE, NSE: JIOFIN] and BlackRock Inc. (BlackRock) [NYSE: BLK].

    Along with the recent regulatory approvals received by Jio BlackRock Asset Management Private Limited and JioBlackRock Investment Advisers to commence operations, receipt of the broking license enables the JioBlackRock joint venture to offer holistic investment solutions to the people of India. 

    Marc Pilgrem, Managing Director and CEO of Jio BlackRock Investment Advisers Private Limited, said: “We are delighted to receive SEBI’s final approval for JioBlackRock Broking which moves us closer to contributing to India’s continued evolution from a nation of savers to a nation of investors. With JioBlackRock Investment Advisers, we will be able to offer personalised advice to retail investors. Now with brokerage, we will also bring an execution platform for self-directed investors. “ 

    Hitesh Sethia, Managing Director and CEO, Jio Financial Services Limited said: “These are exciting times for us. Even as JioBlackRock’s Asset Management arm introduces innovative mutual funds to the market, and JioBlackRock Investment Advisers prepares to launch operations, the approval for the broking entity adds another dimension to our strategy of democratising investments in India, through easily accessible and digital-first solutions.” 

    Rachel Lord, Head of International at BlackRock, said: “JioBlackRock was founded to provide tech-enabled access to capital markets, and affordable, innovative investment solutions, to millions of investors in India. This third approval from SEBI completes the range of offerings of our joint venture. Through these three entities, JioBlackRock will provide a full suite of investment services, enabling Indian investors to work towards their financial goals.” 

  • Daily Indian Funding Roundup & Key News – 26 June 2025: Wiom, Raphe mPhibr, ShopOS Raise Big; Pine Labs IPO, Net1 Exit in Focus

    India’s startup ecosystem remained vibrant on 26 June 2025, with multiple high-value funding announcements across sectors, including defence tech, internet services, and e‑commerce enablement. From Wiom’s $40 million raise to Raphe mPhibr’s record-breaking $100 million round, investors continue to back innovation at scale. Meanwhile, strategic moves from Pine Labs, Net1, and Bumble also made headlines. Here’s a quick roundup of the day’s key developments.

    Daily Indian Startup Funding Digest – 26 June 2025

    Company Amount Raised Lead Investor(s) Sector
    Wiom  US $40 million Bertelsmann India, Accel, Prosus et al. Internet services
    StayVista Over ₹40 crore (~US $4.6 m) JSW Ventures, DSG Consumer Partners, Capri Global FO Luxury villa rentals
    Brihaspathi Technologies US $10 million Foreign institutional investors Defence/Ai security tech
    Jobizo ₹12 crore (~US $1.44 m) Inflection Point Ventures, Alkemi Ventures Health‑tech HR platform
    Raphe mPhibr US $100 million General Catalyst, Amal Parikh, Think Investments etc. Defence drone/aerospace
    ShopOS US $20 million Binny Bansal via 3STATE Ventures AI‑powered e‑commerce OS
    Flipspaces ₹50 crore (~US $5.9 m) Asiana Fund (Asian Paints-backed) Commercial interior tech

    📰 Top Funding News

    Wiom raised $40 million, secured a major growth round

    Delhi-based internet-services aggregator Wiom secured $40 million in a growth capital round led by Bertelsmann India Investments and Accel, with participation from Prosus, Promaft Partners, and existing backers such as RTP Global. The funds will support product development, hiring, and expansion into underserved Indian cities.

    StayVista raised INR 40+ crore from JSW Ventures, others

    Luxury villa rental platform StayVista raised over INR 40 crore ($4.6 million) in a round led by JSW Ventures, along with DSG Consumer Partners and Capri Global Family Office. The capital will be used to expand geographically, enhance offerings, and grow the team.

    Brihaspathi Technologies raised $10 million, secured govt project

    Hyderabad-based Brihaspathi Technologies, focused on AI-powered surveillance and defence tech, raised $10 million from foreign institutional investors. The firm also secured a project with the Maharashtra State Road Transport Corporation and announced plans to go public in FY 2026–27.

    Jobizo raised INR 12 crore to grow health-tech hiring

    Gurugram-based health workforce platform Jobizo raised INR 12 crore ($1.44 million) in a Pre-Series A round led by Inflection Point Ventures and Alkemi Ventures. The company aims to expand its tech stack, ramp up marketing, grow the team, and boost working capital.

    Raphe mPhibr raised $100 million in a historic defence round

    Drone and aerospace startup Raphe mPhibr, based in Noida, raised $100 million in equity funding led by General Catalyst, with support from Amal Parikh, Think Investments, and others. Valued at around $900 million, this marks the largest private defence-tech funding in India to date.

    ShopOS raised $20 million from Binny Bansal

    E-commerce enablement startup ShopOS, founded by Sai Krishna VK and Ajay PV, raised $20 million in seed funding from Binny Bansal’s 3STATE Ventures. The funding will go towards product development, team scaling, and expanding into Europe and the UAE.

    Flipspaces raised INR 50 crore for global expansion

    Commercial design-tech firm Flipspaces secured INR 50 crore ($5.9 million) in funding from Asiana Fund, backed by an Asian Paints promoter. The funding will be used to support operations in India, the US, and the UAE.

    Key News Highlights – 26 June 2025

    Net1 exits MobiKwik after 8 years with significant loss

    South Africa-based fintech firm Net1 has fully exited its investment in Indian digital payments platform MobiKwik, ending an 8-year association. Net1 had initially invested around $18.5 million between 2016 and 2017 but exited with losses due to MobiKwik’s stagnant valuation and shifting strategy. The exit comes amid broader challenges for older fintech backers.

    Pine Labs files IPO papers, aims to raise INR 2,600 crore

    Fintech unicorn Pine Labs has officially filed its Draft Red Herring Prospectus (DRHP) with SEBI, targeting a fresh issue of INR 2,600 crore. Existing investors including Peak XV Partners, Temasek, and PayPal plan to offload a significant portion of their stakes. Peak XV is expected to sell the largest chunk, signalling a partial exit amid the long-awaited IPO.

    India’s online commerce to touch $300 billion by 2030: Bessemer

    According to a new report by Bessemer Venture Partners, India’s online commerce market is projected to reach $300 billion by 2030, driven by increased consumer spending, digital infrastructure, and D2C innovation. Sectors like e‑commerce enablement, logistics, and vernacular platforms are identified as key growth enablers.

    Bumble to lay off 240 employees in global restructuring

    Dating app Bumble has announced plans to cut 240 jobs globally as part of an organisational restructuring. The company is undergoing leadership transitions and seeking to streamline its operations. The layoffs are expected to impact employees across markets, including India, though an exact region-wise breakdown was not disclosed.

    BSE shares fall over 1% as SEBI imposes INR 25 lakh penalty

    Shares of the Bombay Stock Exchange (BSE) declined over 1% after SEBI imposed an INR 25 lakh penalty. The regulator found that BSE had allowed frequent modifications during trades without following proper protocols, breaching the Securities Contracts Regulation norms. The penalty adds pressure amid increasing scrutiny on exchanges.

    Daily Indian Funding Roundup & Key News – 25 June 2025
    Sahi, GIVA, and Battery Smart led the funding activity on 25 June 2025. Key news highlights include Lenskart’s upcoming IPO, NPCI’s 42% profit jump, and MakeMyTrip’s $3B stake repurchase from Trip.com.
    StartupTalkyStartupTalky News

  • India’s Digital Market to Hit $1 Trillion by 2030: Bessemer Venture Partners

    Report focuses on how e-commerce, content plays, and consumer discernment will continue to fuel the rise of a $1 trillion dollar digital opportunity 

    The India practice of Bessemer Venture Partners today released a report titled ‘Click, Watch, Shop: the consumer opportunity in India’. The report outlines the tech, demographic and policy tailwinds from the past decade that have fueled the rise of a $1 trillion digital opportunity and also talks about the user behaviours that will shape consumer offerings in the future. 

    A tailwind trifecta of internet penetration, evolving demographics, and policy changes is among the trends that have enabled the rise of new age consumer companies such as Swiggy, Urban Company, Boldfit, Vetic and more. Going forward, it is the evolution of commerce marketplaces, content platforms and changing consumer aspirations that will power newer companies to win in the Indian context. 

    Commerce will become quicker, better and more aspirational across channels

    India’s burgeoning online commerce sector has witnessed an extraordinary expansion in recent years. Starting from a base of $30 billion in 2020, and is expected to get to $300 billion by the end of the decade in 2030, contributing to a $1 trillion digital opportunity. This demonstrates it is no longer a niche phenomenon catering to a small segment but has firmly established itself as a dominant force within the Indian retail landscape for a significant and growing share of the population. 

    In addition, the recent rise of quick commerce (q-commerce) has introduced a new dimension to the online retail ecosystem, further revolutionising the way consumers access goods. Platforms such as BigBasket, Blinkit, Swiggy, and Zepto have spearheaded this movement, demonstrating the viability and consumer appeal of rapid delivery services. This segment is seeing the further trend of verticalised q-commerce emerging, with startups like Snabbit, Swish and Slikk catering to niche needs. 

    Lastly, D2C brands are increasingly catering to an aspirational mass-premium audience – an audience characterised by the demand for newer, better-priced, higher-quality products.

    What is Quick Commerce? | Features of Quick Commerce
    Quick commerce creates a better customer experience by helping businesses connect with their customers more quickly than the traditional methods.
    StartupTalkyBharat L. Vora

    Content: Entertainment comes home 

    India is experiencing a content revolution driven by consumers’ diverse appetites for entertainment, education, and gaming. Characterised by short attention spans and a multitude of accessible platforms across interests, languages, and budgets, user engagement is rapid, facilitated by frictionless microtransactions or autopay-led subscriptions.

    Platforms are adapting to these shorter attention spans with quick and engaging content. Over the past five years, short-form video platforms in India have witnessed a 3.6X growth in daily active users, competing with mainstream digital platforms. Moreover, the rise of virtual tipping, UPI autopay and other micro-transactions is expected to reach $1.5 billion by 2029 and exemplifies the growth of UPI-enabled microtransactions, which allows companies to experiment with diverse monetisation models beyond just ads.

    The rise of new lifestyle and consumption habits

    The modern Indian consumer’s choices increasingly prioritise what was previously seen as lifestyle spending. These include previously thought “non-essential” spending in areas such as physical and mental health, financial wellness, and pet care. This expenditure has moved from being a good-to-have to a must-have for Indian consumers.

    For instance, there is increased spending on organic food, protein, fitness gadgets, preventive healthcare, and wellness services.) Health-focused food and beverage (F&B) as a category has expanded from ~11% to ~16% of F&B spend and is expected to continue to increase as brands have been quick to adapt to this trend.

    Similar trends can be seen in segments such as financial services (eg, personal finance offering such as Groww) and petcare. 

    Anant Vidur Puri, Partner, said “India presents a $1 trillion dollar digital opportunity. The emergence of multiple consumer marketplaces, platforms and new-age brands in the past decade are a testament to the growing aspirations of an emergent India. This makes us exceptionally optimistic about the potential for many more consumer plays to emerge in the coming years.”

    Bessemer Venture Partners Raises $350 Million India Fund to Back Next-Generation of Startups
    Bessemer Venture Partners announced the close of $350 million in capital for its second dedicated India fund, reinforcing the firm’s long-standing commitment to backing founders in the region as they build enduring companies.
    StartupTalkyMuskaan Kapoor

  • Manika Plastech Files DRHP for IPO to Raise INR 115 Crore

    Manika Plastech Limited, a design-led, precision-engineered, rigid polymer packaging manufacturing company, has filed a Draft Red Herring Prospectus (DRHP) with SEBI for an Initial Public Offering (IPO).

    The public offer comprises of a fresh issue of equity shares aggregating up to INR 115 crore by company (THE “FRESH ISSUE”) and an offer for sale (OFS) aggregating up to 15 million equity shares of face value of INR 2 each by VRIDAA Holding Trust the Promoter Selling Shareholders (“OFFER FOR SALE”).

    Nikunj Mohanlal Kapadia, Munjal Nikunj Kapadia, Mihir Nikunj Kapadia, Pratik Nikunj Kapadia and VRIDAA Holding Trust are the promoters of the company.

    Manika Plastech Limited is a design-led, precision-engineered rigid polymer packaging manufacturer catering to diversified critical industries such as energy storage, dairy and edible food products, paints, and chemicals. The company’s products are designed and developed in-house, with 36 designs registered as unique intellectual property, out of which two have been applied for renewal, under the Designs Act, 2000 and the Designs Rules, 2001. (Source: Technopak Report)

    With a focus on application-specific performance, durability, product safety and efficiency, the company has a product portfolio built around precision-engineered solutions such as high-performance battery casings, pail & thinwall containers, each tailored to serve industrial and consumer use cases. These offerings cater to a broad spectrum of industries, including automotive, energy storage, telecommunications, paints, lubricants, agrochemicals, food, and dairy, among others. The company undertakes production in injection moulded, rigid polymer components, such as precision battery casings, pails and thinwall containers.

    The company proposes to utilise the Net Proceeds towards funding the capital expenditure towards purchase of plant and machinery, Repayment/pre-payment, in part or full, of certain borrowings availed by the company, and General Corporate Purposes.

    The Company is proposing to implement using ISBM technology to manufacture an additional range of products like PET bottles, jars, containers, etc. for industry segments such as personal care, cosmetics, beverage and pharmaceutical applications, among others.

    Manika Plastech Limited is one of the top three players for recycled polymers/post-consumer recycled processing output in CY 2023/ FY 2024. Manika Plastech Limited incorporates recycled and eco-friendly materials, along with energy-efficient production processes. (Source: Technopak Report).

    For the nine months ended December 2024, the company reported a total income of INR 301.754 crore, while the company reported a profit after tax of INR 11.69 crore for the same period.

    Currently, the Company’s operations are spread across seven Operating Facilities, in Dehradun, Hosur, Panipat, Una and Dadra and five warehouses.

    The Company customers include Livguard Energy Technologies Private Limited, Luminous Power Technologies Private Limited, UNO Minda Limited, JSW Paints Limited, Indigo Paints Limited, Jotun India Private Limited and Grasim Industries Limited, and ULTRAVIOLETTE Automotive Private Limited.

    The Equity Shares that will be offered through the Red Herring Prospectus are proposed to be listed on the BSE Limited and the National Stock Exchange of India Limited.

    Pantomath Capital Advisors Private Limited is the Book Running Lead Manager to the issue.

    What Does It Take for a Startup to Be IPO Ready? A Complete Guide
    Read complete information about IPO, its process, eligibility, and how it works. Learn how startups go public and generate funds.
    StartupTalkyShikha Tyagi

  • Brihaspathi Technologies Limited raises USD 10 million, secures Maharashtra State Road Transport Corporation project, and announces IPO plans

    Mumbai, June 26, 2025: Hyderabad-based AI surveillance and security solutions provider, Brihaspathi Technologies Limited, has successfully raised USD 10 million in funding from foreign institutional investors (FIIs) and others. This capital infusion will fuel the company’s expansion efforts, including the establishment of a new 72,000 sq. ft. CCTV manufacturing facility in Hyderabad, expected to be operational by the end of the current financial year.

    As part of its growth strategy, the company plans to hire over 400 additional employees to support its mission of delivering world-class, Made-in-India AI-based security solutions. Brihaspathi Technologies is also gearing up for an Initial Public Offering (IPO) in the next financial year (FY 2026–27). Proceeds from the IPO will be utilized to strengthen its research and development (R&D) capabilities, expand manufacturing capacity, and advance AI-driven solutions.

    In another significant development, Brihaspathi Technologies has been awarded a major surveillance project by the Maharashtra State Road Transport Corporation (MSRTC). The project involves implementing a comprehensive AI-enabled CCTV monitoring system across the MSRTC network, reinforcing the company’s strong credentials in the public sector and its ongoing collaborations with government and institutional clients.

    To date, the company has deployed over 1.2 million CCTV cameras across India. Its portfolio includes high-profile installations such as surveillance systems for the Border Security Force (BSF) along international borders, election monitoring for the Election Commission of India, AI-based classroom monitoring systems, wildlife and national park surveillance, and exam control room solutions across various states. In the past, Brihaspathi Technologies has achieved a historic milestone by deploying 64,000 CCTV cameras across 19 states in a single day for the NEET examination. 

    Buoyed by a strong order book, Brihaspathi Technologies anticipates a 30% growth in revenue during the current financial year. This growth is attributed to the rising demand for integrated security solutions across sectors such as education, transportation, and public safety in both urban and rural areas. Brihaspathi Technologies is the first Indian company in the Security Surveillance Industry sector to attract Foreign Institutional Investors (FIIs) for strategic funding. This pioneering move positions the company to scale its innovations and further penetrate global markets.

    Commenting on the future prospects, Mr. Rajasekhar Papolu, Managing Director, Brihaspathi Technologies Limited, said, “This is a transformative phase for Brihaspathi Technologies. The USD 10 million funding will accelerate our expansion plans, particularly the commissioning of our new manufacturing unit in Hyderabad, which will significantly scale up our production capabilities. Additionally, winning a major contract from the MSRTC is a testament to our ability to deliver impactful surveillance solutions on a large scale. As we prepare for our IPO in the next financial year, we remain committed to developing world-class, AI-powered, Made-in-India technologies that will redefine the security landscape across the nation.”

    “India’s CCTV and surveillance sector is witnessing rapid growth, driven by heightened government focus on internal security, smart city initiatives, and increased demand for institutional monitoring. With the integration of AI and rising public awareness, the industry is expected to grow at a double-digit CAGR over the next five years, offering substantial opportunities for domestic manufacturers and solution providers. With a robust team of over 300 professionals at an average age of just 35 years, and a pan-India presence through GST-registered offices in 19 states, Brihaspathi Technologies has established itself as a trusted name in smart surveillance, IoT, and digital transformation,” added Mr. Rajasekhar.

    Brihaspathi’s innovative product suite incorporates AI video analytics, real-time monitoring, and solar-powered security systems, making it ideal for both remote and infrastructure-rich environments. With its upcoming manufacturing facility, solid financial support, and large-scale national deployments, the company is poised to emerge as a future-ready, indigenous leader in India’s evolving surveillance ecosystem.

  • Pine Labs Seeks INR 2,600 Cr via IPO, Files DRHP Papers with SEBI

    According to people familiar with the situation, the fintech unicorn Pine Labs filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on June 26.

    According to a media report, the company intends to raise up to INR 2,600 crore ($304 million) through a new share offering, while current investors such as PayPal, Mastercard, Peak XV Partners, and Macritchie Investments will sell up to 14.78 crore (147.8 million) shares.

    The proceeds of the new issuance will be utilised to pay down debt and make investments in companies including Pine Payment Solutions Malaysia, Pine Labs UAE, and Qwikcilver Singapore, in accordance with the DRHP.

    Axis Capital, Morgan Stanley, Citi, J.P. Morgan, and Jefferies to Manage Offerings

    The business might potentially think about placing shares up to INR 520 crore before the IPO. Axis Capital, Morgan Stanley, Citi, J.P. Morgan, and Jefferies are managing the offering.

    This represents a significant departure from its previous discussions since last year, when Pine Labs was allegedly considering an IPO of $1 billion (INR 8,300 crore). Pine Labs, which was last valued at $5 billion when it raised money in 2022, was granted permission in April to relocate its headquarters from Singapore to India.

    The platform has been branching out into other industries, such as online payments (Fave), Buy Now Pay Later (BNPL), invoice management, and gifting solutions, enabling merchants to diversify revenue sources. Its primary focus is on offline payments through Point of Sale (PoS) terminals.

    Due to a robust IPO market and a resurgence of investor interest in tech equities, a number of technology businesses intend to go public in 2025.

    Lenskart, an eyeglasses startup, has contacted investment banks to present for the mandate for its possible initial public offering (IPO), which may raise $1 billion. Groww, a stock broker, had selected five investment banks for a $1 billion initial public offering.

    In the near future, startups like SoftBank-backed OfBusiness and contract maker Zetwek hope to raise $1 billion through initial public offerings (IPOs). Up to 25 firms hope to debut on the public market in 2025.

    This comprises companies that aim for $500 million initial public offerings (IPOs), such as edtech company PhysicsWallah, AI unicorn Fractal, construction materials portal Infra.market, and leader in rapid commerce Zepto.

    With solid institutional support and a broad range of digital payment and issuance tools designed for India’s quickly digitising commerce sector, Pine Labs’ initial public offering (IPO) is anticipated to be a notable fintech listing in 2025.