Microshots 🚀

🚨 BSE & NSE Fine Go Digit for Delay in Furnishing Data. Insurtech company Go Digit General Insurance has been penalized by the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) for delays in filing related party transaction (RPT) data. 💰 Fine Details: Both exchanges have imposed a fine of INR 5,000 each on Go Digit for submitting the RPT information in XBRL format a day late. The company filed the data for the half-year ending September 2024 within 30 minutes of the board meeting on October 24 but missed the XBRL submission deadline by one day, completing it on October 25. ⚖️ SEBI Regulations: According to SEBI rules, all RPT disclosures must be submitted on the same day as the board meeting’s conclusion. The delay in filing violated these regulations. 📉 Stock Impact: Following the fines, Go Digit’s shares closed 1.9% lower at INR 324.50 on the BSE. The stock has fallen by as much as 9% over the past five trading sessions. 📊 Financial Performance: Despite the regulatory setback, Go Digit reported a 221% year-on-year increase in net profits, reaching INR 89.47 Cr in Q2 FY25, up from INR 27.69 Cr in the same quarter of the previous fiscal year. The company’s total gross written premium (GWP) for Q2 FY25 increased by 14.2%, totaling INR 2,368.57 Cr. 🏢 About Go Digit: Founded in 2017 by Kamesh Goyal, Go Digit offers a range of insurance policies, including health, motor vehicle, travel, and property insurance. The company went public in May 2024 and is backed by investors like Fairfax, Peak XV Partners, and A91 Partners. #GoDigit #Insurance #RegulatoryFine #SEBI #StockExchanges #NSE #BSE #XBRL #Insurtech #IPO #BusinessNews

🚀 Nuvama Wealth Buys OYO Shares worth INR 100 Cr at $4.6 Bn Valuation. Nuvama Wealth and Investment Limited, acting on behalf of a consortium of family offices, has acquired shares worth INR 100 Cr in IPO-bound OYO, marking a key secondary market transaction. 💰 Investment Details: The shares were purchased at INR 53 apiece, valuing OYO at $4.6 billion. These shares were sold by OYO's early investors, InCred Wealth and Huazhu Group Limited (formerly China Lodging). 📈 OYO's Growth & Valuation: OYO is reportedly eyeing a fresh funding round, aiming for a valuation of around $5 billion, driven by its recent profitability. The company’s improved financial performance has caught the attention of investors, with OYO turning profitable in FY24 after years of losses. 📊 OYO’s Financials: For FY24, OYO posted a net profit of INR 229.5 Cr, recovering from a net loss of INR 1,286.5 Cr in FY23. However, its revenue from operations remained flat, standing at INR 5,388.7 Cr, a slight decline of 1.3% from the previous fiscal year. 🌍 About OYO: Founded in 2012 by Ritesh Agarwal, OYO offers over 40 integrated products and solutions to over 157K hotels and home storefronts across 35 countries, including India, Europe, and Southeast Asia. Earlier this year, OYO’s founder Ritesh Agarwal increased his stake in the company with a INR 550 Cr infusion. 📈 Market Sentiment: Moody’s recently upgraded OYO’s corporate family rating from "B3" to "B2," reflecting its improving financial health and growing market interest. #OYO #NuvamaWealth #Investment #SecondaryMarket #IPO #FundingRound #Profitability #Hospitality #OYOValuation #IndianStartups #BusinessGrowth

🚨 Ola Group Chief Human Resources Officer Balachandar N Quits. Ola Group's Chief Human Resources Officer, Balachandar N, has stepped down after a tenure of nearly four years. Balachandar joined Ola Electric in 2021 and was promoted to the role of CHRO at Ola Group, overseeing hiring efforts across Ola Electric, Ola Consumer, and Krutrim. 💼 Career Overview: Balachandar served as the Senior Vice President and Chief People Officer of Ola Electric from May 2021 to November 2024. As CHRO at Ola Group, he played a key role in managing talent acquisition across its electric vehicle division and consumer services. Prior to joining Ola, he held senior HR positions at Coffee Day Group, ONDC, Asian Paints, and Standard Chartered Bank. 📅 Leadership Changes: Balachandar’s departure is part of a series of leadership changes at Ola Group. Earlier this year, Sidharth Shakdher, Chief Business Officer of Ola Consumer, also stepped down. The company is undergoing significant shifts as it prepares for an upcoming IPO of Ola Consumer, formerly known as Ola Cabs. 📈 IPO and Future Plans: Ola Consumer is gearing up for an IPO, following its transformation into a public limited company. If successful, it will be the second company founded by Bhavish Aggarwal to go public, after Ola Electric made its debut earlier this year. Meanwhile, Ola Electric faces challenges, including consumer complaints, government scrutiny, and declining market share in the EV two-wheeler segment. 📊 Company Update: The timing of Balachandar’s retirement coincides with Ola’s major restructuring, signaling a shift in its leadership ahead of crucial developments in the ride-hailing and electric vehicle markets. #OlaGroup #LeadershipChange #BalachandarN #HumanResources #OlaConsumer #OlaElectric #IPO #EVChallenges #BusinessGrowth #CorporateRestructuring #IndianStartups

🚀 Nazara to Invest INR 15 Crore in Datawrkz to Boost Digital Ad Expansion. Nazara Technologies, the gaming giant, has announced plans to invest INR 15 Cr (approximately $1.8 million) in its subsidiary Datawrkz, aiming to enhance its presence in the digital advertising space. The company has entered into a share subscription agreement to acquire 4,959 compulsorily convertible cumulative preference shares (CCCPS) of the Bengaluru-based adtech firm. 💰 Investment and Growth Plans: The investment will fuel both organic and inorganic growth, strengthening Datawrkz’s capabilities in the digital advertising ecosystem. Nazara’s move aims to expand Datawrkz's footprint and improve its offerings, including a supply-side platform and real-time bidding solutions. 📈 Datawrkz Overview: Founded in 2013, Datawrkz is an advertising technology provider catering to publishers, agencies, and brands. The company also operates in the US and Singapore, generating INR 104.3 Cr in turnover for FY24. 🌍 Expansion and Strategy: The transaction, set to complete within 30 days, will occur in one or more tranches. This investment follows Nazara’s strategic push for expansion, including acquiring stakes in subsidiaries like Nodwin, Sportskeeda, and Funky Monkeys. 📅 Nazara's Recent Moves: In November, Nazara raised INR 855 Cr through a preferential issue to fuel acquisitions and business growth. The company recently acquired Trinity Gaming for INR 24 Cr and is actively pursuing additional investments in gaming and entertainment sectors. 📊 Financial Update: Despite its expansion, Nazara reported a 33% decline in its consolidated net profit to INR 16.24 Cr in Q2 FY25 compared to INR 24.18 Cr in Q2 FY24. Datawrkz #Nazara #Datawrkz #Investment #DigitalAdvertising #AdTech #GamingIndustry #BusinessExpansion #StrategicAcquisitions #FinancialGrowth #IndianStartups

🚀 Elevation Capital Welcomes Former Meta Executive Krishna Mehra as Partner. Venture capital firm Elevation Capital has appointed former Meta executive Krishna Mehra as a partner to lead its investments in Saas and AI. Mehra, who previously generated over $10 billion in revenue by driving engineering for messaging ads at Meta, will be based in Silicon Valley. His appointment aims to bolster Elevation’s focus on the India-US corridor. 💰 Investment Strategy: Mehra’s leadership will help Elevation Capital support Indian Saas and AI founders looking to scale globally. The firm plans to deepen its engagement with Indian diaspora founders leveraging talent and innovation across both India and the US. 💼 Impressive Career Background: At Meta, Mehra was instrumental in deploying AI-powered products and machine-learning models, such as Meta’s Llama. Before Meta, he co-founded Capillary Technologies, helping scale the company to serve over 300 million consumers globally. He also co-founded Taro, a subscription commerce startup acquired by EAT Club. 🌏 Elevation Capital’s Growth and Investments: Elevation Capital has invested over $2.6 billion across 190 companies. The firm recently promoted Vaas Bhaskar and Chirag Chadha to partners and Ashray Iyengar to principal. This year, the firm led investments in startups like Infinyte.Club, Rupeek, and Comet, while exiting ixigo with 13X returns. 📈 Future Plans and Leadership Growth: Elevation’s leadership continues to expand, and the firm remains committed to fueling innovation and scaling startups, with a strong focus on Saas, AI, and the India-US ecosystem. #ElevationCapital #VentureCapital #AIInvestments #Saas #Meta #IndianStartups #Glo

🚀 Bhuvan Bam Joins Sexual Wellness Brand Peppy as Cofounder. D2C sexual wellness brand Peppy has announced that content creator Bhuvan Bam has joined as an investor and cofounder. The company raised $500K in a pre-seed round in May 2023, led by Bam, BBKV Productions cofounder and CEO Rohit Raj, among others. Peppy, which was founded in 2023 by Devansh Agarwal and Shyamal Gupta, offers a range of sexual wellness products including massagers and lubricants. 🤝 Leveraging Bam’s Popularity for Broader Reach: The partnership aims to capitalize on Bam's vast online following to help Peppy connect with a larger audience and normalize conversations around sexual pleasure. Bam’s creative approach to engaging with his audience is expected to break societal taboos and empower individuals to approach intimacy confidently. 💡 Bhuvan Bam’s Previous Investments & Vision: This isn’t Bam's first investment; in 2022, he also invested in HYPD, a creator-owned marketplace startup. Speaking about his latest collaboration with Peppy, Bam shared, “While society has made significant changes in many areas, the taboo surrounding physical intimacy continues to hold people back. By collaborating with Peppy, I aim to help people overcome these societal norms.” 📈 Peppy’s Growth Plans & Seed Round Fundraise: Peppy, which was valued at INR 50 Cr during its last fundraise, is now raising a seed round of $1 Mn to $2 Mn to expand its sales channels and market reach. The brand competes with other sexual wellness companies like Bold Care, MyMuse, and Kindly. 🌟 Celebrity Involvement in Startups: This development aligns with a growing trend of celebrities investing in Indian startups. With 19 celebrities—including Deepika Padukone, Ranveer Singh, and Karan Johar—backing 21 startups this year, the trend is expanding. The Indian sexual wellness market is attracting significant investor interest, with brands like MyMuse and Sirona gaining traction. peppy #BhuvanBam #Peppy #SexualWellness #Investment #Entrepreneurship #D2C #SocialImpact #BreakingTaboos #Intimacy #CelebrityInvestors #StartupGrowth #Fundraising

💰Veefin Acquires 50% Stake in Walnut AI for $2 Mn. Veefin Solutions, through its subsidiary Estorifi Solutions Private Limited, has acquired a 50% stake in Singapore-based GenAI startup Walnut AI Pte Ltd for $2 Mn (approximately INR 17 Cr) in an all-cash deal. The acquisition was first announced in November but was formally disclosed in a regulatory filing on December 12. 🤝 Strategic Expansion & Revenue Growth: Through this acquisition, Veefin aims to enhance its revenue by leveraging Walnut AI’s extensive client base across various regions, which will help generate additional revenue streams. The company also plans to combine the resources and expertise of both entities to unlock new growth opportunities and drive innovation. 💡 About Walnut AI & Its Solutions: Founded in 2020 by Bala Iyer and Lalit Kumar, Walnut AI offers advanced AI-driven solutions for banks and financial institutions, specializing in credit, risk management, KYC, and capital market operations. The startup leverages technologies like AI, machine learning (ML), and natural language processing (NLP) to address complex, large-scale data challenges in the financial sector. 🚀 Veefin's Expanding Portfolio & Growth Strategy: Veefin, founded in 2020 by Raja Debnath and Gautam Udani, is a BSE-listed company providing supply chain finance (SCF) and lending solutions globally. Based in Mumbai, the company has been acquiring stakes in various businesses to diversify its revenue streams and strengthen its market presence. For instance, Veefin acquired a 26% stake in EpikInDiFi in October, and earlier in 2024, it purchased a 26% stake in Regime Tax Solutions. 📊 Strong Financial Performance: In the second quarter of fiscal year 2024-25 (Q2 FY25), Veefin reported a remarkable 325% increase in profits, rising to INR 4.13 Cr from INR 97.98 Lakh in Q2 FY24. Additionally, the company's operating revenue surged 112%, reaching INR 19.08 Cr from INR 9.05 Cr in the previous year. Veefin | The Walnut.ai (a Veefin Group company) #Veefin #Acquisition #WalnutAI #GenAI #Fintech #AI #TechInnovation #RevenueGrowth #BusinessExpansion #FinancialTech #KYC #RiskManagement

📱 Superfone Bags Funds to Offer App-Based Telephony to SMBs. 🔧Superfone's Saas Platform & Innovative Telecom Solution: Superfone, a Saas platform founded in 2021, has raised $1.9 Mn (INR 15 Cr) in its pre-Series A funding round led by YourNest Venture Capital. The platform provides an innovative, app-based solution that replaces traditional SIM cards with a telecom service integrated with lead management, WhatsApp marketing, and AI-powered agents, tailored for small and medium-sized businesses (SMBs). 💰 Funding Details & Future Plans: The funding round also saw participation from Ankur Capital, Finsight Seed Fund, and other angel investors. The fresh capital will be used to acquire national-level telecom licenses, strengthen the engineering and product teams with senior hires, scale customer acquisition, and enhance the tech stack. 🌍 Expansion Plans and Licenses: Superfone plans to expand its reach into Southeast Asian (SEA) and Latin American (LATAM) markets. The company has already secured a unified license for Karnataka’s telecom circle and a pan-India unified license for services like audio conferencing and voice mail from the Department of Telecommunications (DoT). 🚀 Tech Stack & Vision: Superfone aims to revolutionize SMB telephony by offering a full suite of communication tools in a single app. This includes integration with CRM, lead management, and marketing via WhatsApp, powered by AI agents. The company is focused on enabling small businesses to leverage technology to streamline their communication and customer engagement processes. 👥 Growth and Previous Funding: Superfone was founded by Pradeep Dodle and Nikhil Goenka. The company had previously raised $1.8 Mn in seed funding in 2021. This new round of funding, which includes a $950K contribution from YourNest as part of its Velocity 2024 accelerator program, will help Superfone scale its operations and further develop its platform. 📊 Saas Market Outlook: The funding comes amid rising interest in Saas startups, with projections that the Indian Saas ecosystem could reach a $70 Bn market opportunity by 2030. Other startups in the Saas space, like AI-based Ennoventure and BiteSpeed, have also raised significant funds recently, reflecting growing investor confidence in this sector. Superfone #Superfone #TelecomTech #Saas #SmallBusiness #TechStartup #Funding #CustomerEngagement #SMBs #AI #WhatsAppMarketing #Expansion

 🚀 Zetwerk Gets Board nod to Raise INR 565 Crore. 💰Funding & Investors: Zetwerk, the ecommerce giant, has received approval from its board to raise INR 565.5 Cr (around $66.6 Mn) in a funding round led by Khosla Ventures, with participation from The Schiehallion Fund and others. Khosla Ventures will invest INR 253.2 Cr, while The Schiehallion Fund will contribute INR 169 Cr. 💼 Use of Funds: The fresh capital will be used to expand Zetwerk’s manufacturing capabilities, particularly in the renewables and offshore wind segments, including markets in the US and Europe. Part of the funds will also support Zetwerk’s upcoming Initial Public Offering (IPO) as it prepares for a potential $1 Bn public listing. 🚀 Company Overview & Operations: Founded in 2018 by Ramakkrushnan, Amrit Acharya, Rahul Sharma, and Vishal Chaudhary, Zetwerk connects vendors and suppliers with manufacturing companies to procure industrial machine components. The company became a unicorn in 2021 and has raised over $700 Mn to date, with prominent investors like Peak XV Partners, Lightspeed, and Mars Growth Capital. Zetwerk has expanded into IT hardware and electric vehicle (EV) component manufacturing, along with allocating INR 1,000 Cr ($122 Mn) for electronics manufacturing. 🌍 Strategic Focus & Expansion: Zetwerk is focused on expanding its manufacturing capacities, especially for the renewables and offshore wind energy sectors, both domestically and internationally. In addition, the company aims to diversify its product offerings, which now include IT hardware and EV components, further strengthening its position in the industrial manufacturing space. 📈 IPO Plans & Financials: Zetwerk is preparing for a potential IPO and has already begun discussions with JP Morgan to explore this option. The company’s expansion plans, alongside its ongoing fundraising efforts, highlight its ambition to strengthen its market presence and reach new heights in the manufacturing and ecommerce sectors. 🔮 Industry Context & Competitors: Zetwerk operates in a competitive space, with other players like Moglix and OfBusiness also aiming for growth and market dominance. OfBusiness is also planning an IPO in 2025, which reflects the increasing interest in manufacturing and industrial ecommerce platforms in India. #Ecommerce #Manufacturing #Investment #Zetwerk #KhoslaVentures #Renewables #IPO #Expansion #IndustrialTech #ElectricVehicle #TechManufacturing #IndianStartups

🎓 K-12 Techno Pockets $40 Mn from Kenro Capital. 💰 Funding & Investors: K-12 Techno Services Private Limited, the edtech platform behind Orchids International Schools, has secured $40 Mn (INR 339 Cr) in funding from Kenro Capital, a venture capital firm focused on secondaries. Kenro has also acquired a minority stake in K-12 Techno through a mix of primary and secondary funding. 💼 Use of Funds: The investment will support K-12 Techno's mission to deliver high-quality, holistic education services to students and schools across India, leveraging technology. The funds will help the company enhance its offerings and expand its impact across the education sector, reaching more students and educational institutions. 🚀 Company Overview & Operations: Founded in 2010 by Jai Decosta and Maguluri Srikanth, K-12 Techno operates Orchids International Schools, a chain of schools across India. The company provides full-stack solutions to educational institutions, including curriculum design, academic services, technology integration, teacher training, and education marketing. K-12 Techno claims to serve over 900 educational institutions and more than 350,000 students across the country. 🔮 Future Vision & Growth: K-12 Techno's mission is to nurture well-rounded individuals who excel academically while also being empathetic and capable of making a positive impact on the future. The company is focused on integrating technology into learning models tailored for India to scale its education services and improve learning outcomes. 🌍 Kenro Capital’s Focus & Strategy: Kenro Capital, founded by Piyush Gupta, is focused on growth-stage secondary transactions, targeting profitable businesses or those nearing profitability in India and Southeast Asia. The firm is especially interested in companies preparing for an IPO within the next 2-3 years and aims to invest between $20 Mn to $30 Mn per deal. Kenro also provides strategic insights and support for IPOs and M&As. 🔮 Industry Context & Insights: Piyush Gupta, managing partner at Kenro Capital, highlighted the growing demand for quality education, particularly in CBSE-based private schools, and the advantages of K-12 Techno’s scale in student engagement, teacher recruitment, and curriculum development. The investment comes at a time when the edtech sector is witnessing significant growth, especially in technology-driven education models that aim to improve learning outcomes at scale. K12 Techno Services Pvt. Ltd. #Edtech #Investment #K12Techno #Education #TechnologyInEducation #KenroCapital #OrchidsInternational #EdtechGrowth #HolisticEducation #IndianEducation