E-Cell, IIT Indore

#WeeklyRoundup ● Market Outlook for 2025: Higher Highs or Cautious Optimism? The year 2024 was a tale of two halves for the financial markets. While the first half witnessed an impressive rally surpassing expectations, the latter half brought uncertainty, volatility, and corrections, leaving investors wary as 2025 approaches. A. Balasubramanian, MD & CEO of Aditya Birla Sun Life AMC, highlights factors shaping the upcoming market landscape, including expected interest rate cuts by central banks, resolution of geopolitical tensions, stable commodity prices, and India's economic resilience amid global challenges. ● Hood App: Anonymous Discussions for Authentic Conversations Founded in 2021 by Jasveer Singh, Abhishek Asthana, and Deepak Kumar, the Hood app gained prominence after its appearance on Shark Tank India. Positioned as a platform for free and democratic discussions, it emphasizes creating multiple interest groups for open communication under anonymity. Backed by investors like Vijay Shekhar Sharma, Ashneer Grover, and Kunal Shah, the app ensures safety through partnerships with Ikigai Law and aims to implement responsible AI. While still a work in progress, the platform is addressing challenges such as online harassment to promote a more inclusive digital space. ● Hexagon and TEXMiN Drive Mining Innovation Hexagon India has partnered with TEXMiN, IIT (ISM) Dhanbad, to establish a Center of Excellence, launched by Padma Bhushan Dr. V. K. Saraswat. This collaboration focuses on leveraging technology for digital transformation in mining, emphasizing environmentally sustainable practices. It aims to drive innovation through R&D in areas like mine mapping, geospatial analytics, and automation, empowering industry professionals and researchers. ● Startups Thrive in Public Markets Indian startups faced lukewarm private investments in 2024 but found success in public markets. Thirteen startups, including Swiggy, Ola Electric, and FirstCry, debuted on stock exchanges, with realistic valuations and transparent financials. Unlike the underwhelming IPO performances of 2021 by firms like Paytm and Nykaa, these startups effectively balanced expectations and storytelling, setting a new standard for public listings. #MarketOutlook #FinancialMarkets #EconomicTrends #InvestmentStrategies #Leadership #StartupSuccess #Entrepreneurship #Innovation #DigitalTransformation #FutureOfWork #Sustainability #MiningInnovation #TechnologicalAdvancements #AIforGood #ResponsibleTech #IndianStartups #PublicMarkets #IPO #GrowthMindset #BusinessLeadership

#WeeklyRoundup 1. How Océglōw Transformed ₹18 Lakhs into ₹8 Crore in Revenue? The success story of Océglōw began with Akshay and Aarushi Oswal, a seasoned makeup artist with over 15 years of experience, identifying a gap in the Indian skincare market. Aarushi often encountered clients seeking long-term skincare solutions addressing issues like dehydration, dullness, and aging. Their vision combined advanced science with natural, marine-based ingredients, inspired by Korean skincare traditions, to create a brand offering luxurious and effective products. Looking ahead, Océglōw plans to expand into makeup, explore offline retail, and target global markets. 2. Zepto to Launch Dedicated Mobile App ‘ZEPTO CAFE’ : Zepto, a quick commerce platform, is launching a standalone app for its food delivery vertical, Zepto Cafe. Available on Android and iOS, the app complements the existing Zepto platform, offering a focused customer experience. This move comes as competition intensifies, with Amazon entering quick commerce. The standalone app positions Zepto to gain a distinct edge in the market. 3. DeepTek : Revolutionizing Medical Imaging with AI DeepTek, led by CTO Ashutosh Pathak, is redefining medical imaging using AI. The company’s decision support system aids radiologists by reducing workload and expediting diagnoses. Ashutosh’s expertise in scaling tech companies has been instrumental in DeepTek’s impact on healthcare innovation. 4. Bangalore Startup Makes Airport Travel Affordable : QuickReach, co-founded by Shubham, Aman Mishra, and Pulkit, is transforming airport travel in Bangalore with shared cabs, cutting costs by 50%. Combining extensive consumer tech experience, the team’s dedication has led to a user-friendly service, earning widespread acclaim. 5. boAt Lifestyle Reports 7% Revenue Drop in FY24, Cuts Losses to INR 79.7 Crore : BoAt experienced a 7% decline in consolidated revenue for the financial year 2023-24 (FY24), falling to INR 3,117.7 crore from INR 3,376.8 crore in FY23. The decrease was largely attributed to a sharp 40% drop in wearables sales, which fell to INR 550.3 crore in FY24 from INR 910.6 crore the previous year. Despite the revenue slump, boAt reduced its net losses by 38%, reporting a loss of INR 79.7 crore in FY24, compared to INR 129.4 crore in FY23. #IndianStartups #Entrepreneurship #StartupSuccess #Innovation #HealthcareTech #Ecommerce #QuickCommerce #Sustainability

#WeeklyRoundup 1. SoftBank Acquires Paytm’s SARs in PayPay for $279 Million: Paytm has sold its stock acquisition rights (SARs) in PayPay Corporation to SoftBank Vision Fund 2 for ₹2,364 crore ($279.19 million), valuing PayPay at $7.06 billion. The sale, expected to conclude this month, strengthens Paytm’s cash reserves, fueling its future initiatives. 2.ChooseApp - Simplifying Mobility for Indians : Founded in 2024, Mumbai-based ChooseApp is India’s first modern mobility app that helps users compare cab, auto, and bike services on one platform. It offers real-time fare comparisons, wait times, and reviews, enabling users to choose the best option while saving time and money. It even tracks monthly savings, making travel easier and more affordable. 3.DPIIT Startups Generate Over 16.67 Lakh Jobs: Startups registered under DPIIT have created 16.67 lakh direct jobs across 55 industries as of October 2024. IT services led the way with 2.04 lakh jobs, followed by healthcare, education, and construction sectors. This reflects startups’ growing role in boosting India’s economy and employment. 4.Medblue Innovations - Revolutionizing Neonatal Healthcare: Medblue Innovations addresses gaps in rural healthcare diagnostics. Inspired by founder Jitesh Pandey’s personal observations, the startup develops solutions to diagnose and treat conditions like neonatal jaundice without invasive procedures, paving the way for accessible healthcare in underserved areas. 5.Rutu Biosystems - Saving 13 Billion Litres of Water: Pioneering sustainable sanitation, Rutu Biosystems produces eco-friendly solutions for odor control, waste management, and water conservation. Based in Pune, the biotech firm introduced waterless urinals and biodegradable cleaning products under its BIODOC brand, aiming for a greener, sustainable tomorrow. #SoftBank #Paytm #Fintech #MobilitySolutions #ChooseApp #DPIIT #Startups #HealthcareInnovation #MedblueInnovations #Sustainability #RutuBiosystems #EcoFriendly #DigitalIndia #Entrepreneurship #EconomicGrowth #GreenerTomorrow #Innovation

#WeeklyRoundup 1. Zomato's Deepinder Goyal Announces 'Food Rescue' to Stop Food Wastage: Zomato has launched a new initiative called 'Food Rescue' aimed at reducing food wastage from canceled orders. This feature allows customers to grab canceled orders at a discounted price, available only within a short window and for customers within 3 kilometers of the delivery partner. Zomato hopes to tackle the large-scale food wastage issue within the restaurant industry. 2. PhysicsWallah Sees Losses Widen in FY 2023-24 Amid Rapid Expansion: Noida-based edtech unicorn PhysicsWallah (PW) has reported increased losses for FY 2023-24, despite achieving a 2.6-fold increase in revenue. The higher losses are attributed to rising employee costs and aggressive expansion into new educational verticals. PW also revised its previous year’s figures, now reporting a loss of Rs 84.1 crore. 3. Haldiram Bhujiawala Raises Rs 235 Crore from Bharat Value Fund to Expand Reach and Growth: Haldiram Bhujiawala, the packaged snack company, has raised Rs 235 crore via a private placement with Bharat Value Fund (BVF). This investment will help expand its operations and enhance its distribution network, reaching over 2 lakh retailers across various states. The company aims to strengthen its position despite competition from other major snack players. 4. Bengaluru-Based AI Startup Thesys Secures $4 Million in Seed Funding Led by Together Fund: Bengaluru-based AI startup Thesys has raised $4 million (approximately INR 33.7 crore) in a seed funding round led by Together Fund, with additional participation from 8vc. The fresh capital will support the development of Thesys’ “Generative UI” platform, designed to help enterprises create AI-driven user interfaces that adapt to real-time needs, enhancing design workflows and accelerating launch timelines. 5. Gujarat Man Leaves ₹3.5 Cr/year Job in the US to Launch a Tech Startup in India: Bhashit Parikh, along with co-founders Nishit Shah and Salil Momin, has launched a tech startup in India focused on platform engineering and cloud solutions. Their tool simplifies platform creation for businesses, incorporating advanced components like Service Mesh and ArgoCD for GitOps, enabling faster and more efficient platform development with minimal configuration effort. #AI #SeedFunding #EdTech #BusinessGrowth #FoodWaste #FoodTech #CloudSolutions #TechStartup #IndianStartups #Innovation #Entrepreneurship

#WeeklyRoundup 1. BharatPe Launches New App to Enhance Investment Offerings: BharatPe, a leading fintech player, has announced the launch of its new investment platform, Invest BharatPe, aimed at providing consumers with a secure and user-friendly gateway to a wide array of investment options. Invest BharatPe is designed to help consumers achieve their financial goals effortlessly with just a few clicks. This app is designed to make investing simple, secure, and accessible to everyone—regardless of their budget or financial knowledge. 2. NVIDIA in Talks to Invest in Musk's AI Startup xAl: Jensen Huang-led chipmaker Nvidia is planning to invest in Elon Musk's artificial intelligence startup xAl, reports said. xAl is planning to raise funds in a round which may see its valuation jump to $75 billion by January 2025, the reports added. This comes after xAl announced that it is building an AI supercomputer called 'Colossus'. 3. CRED Enters Insurance Sector with CRED Garage: In a significant expansion, fintech unicorn Cred, led by Kunal Shah, has entered the insurance sector in collaboration with Go Digit General Insurance, ICICI Lombard, and Zurich Kotak General Insurance. This development allows Cred users to access motor insurance through the company’s vehicle management platform, CRED Garage, with exclusive benefits based on their credit scores. The motor insurance feature, launched under CRED Garage, offers users discounts tailored to their credit profiles. 4. UPI Records 10% Month-on-Month Growth in October 2024: The Unified Payments Interface (UPI) has demonstrated remarkable growth in transaction volume and value from September to October 2024. According to data published by the National Payments Corporation of India (NPCI), UPI recorded a staggering 16.58 billion transactions in October, marking a 10% increase from September’s 15.04 billion transactions. 5. Hala Mobility Raises Rs 51 Cr in Pre-Series A round : EV-as-a-Service Platform Hala Mobility has raised Rs 51 crore (around $6 million) in its pre-Series A round from founders Srikanth Reddy and Snehith Reddy and others. The proceeds will be used to ramp up Hala Mobility’s EV fleet and expand its footprint to six additional cities across India, the company said in a press release. The firm aims to deploy 10,000 new electric vehicles by December next year, furthering its vision of revolutionizing urban mobility with sustainable and eco-friendly solutions. #BharatPe #Fintech #Investing #Nvidia #AI #xAl #ElonMusk #CRED #Insurance #UPI #DigitalPayments #EV #Sustainability #UrbanMobility #Entrepreneurship #BusinessGrowth

#WeeklyRoundup 1. Blinkit Launches Sellers Hub Amid Competition: Quick commerce platform Blinkit, owned by Zomato, launched the Blinkit Sellers Hub, allowing brands to direct product sales, bypassing intermediaries and challenging players like Amazon and Flipkart. This launch follows Zomato’s recent fee increase on food deliveries to ₹10 from ₹6 due to festive season demand, with Swiggy matching the hike. Zomato has also expanded Blinkit’s infrastructure by adding 152 dark stores and seven warehouses to support growth. 2. Zomato Acquires Paytm’s Ticketing Business for ₹2,048 Crore: Zomato is set to acquire Paytm’s entertainment and ticketing business for ₹2,048 crore to expand its lifestyle offerings. The cash deal allows Paytm to keep ticketing options on its app for 12 months, during which users will be redirected to Zomato’s upcoming ‘District’ app, covering dining, events, and more. Zomato plans to incentivize users to transition to this platform. 3. Apple to Hire 400 Employees for New Retail Stores in India: Apple announced plans to hire 400 employees for its new retail outlets opening in Bengaluru,Pune, Delhi-NCR, and Mumbai in 2025, extending its successful India expansion. The recruitment includes diverse roles, with part-time opportunities aimed at fresh graduates, allowing flexibility in shifts, as reported by Moneycontrol. 4. Ola Electric’s Bhavish Aggarwal Becomes Young Billionaire: Bhavish Aggarwal, founder of Ola Electric, became one of India’s youngest billionaires following Ola Electric’s IPO. Shares surged by 16% during its debut, adding $1.4 billion to Aggarwal’s wealth, totaling $2.6 billion. This success follows earlier challenges, including safety concerns, which Aggarwal overcame to establish the company’s credibility. 5. Rare Rabbit Sees 69% Revenue Surge in FY24: Premium fashion brand Rare Rabbit reported a 69% revenue increase in FY24, reaching ₹637 crore. Profits also more than doubled to ₹75 crore from ₹32 crore. This growth, supported by recent funding, highlights Rare Rabbit’s resilience amid an overall decline in consumer spending, contrasting with Aditya Birla Fashion & Retail’s lifestyle segment, which saw a slight dip in revenue. #Ecommerce #Startupupdates #RetailIndustry #TechnologyNews #Entrepreneurship #BusinessGrowth #IndiaBusiness

#WeeklyRoundup 1. Noel Tata Appointed Chairman of Tata Trusts, Succeeds Ratan Tata: Noel Tata has been appointed as the Chairman of Tata Trusts, succeeding his half-brother Ratan Tata, who passed away recently. He currently holds prominent positions as Chairman of Tata Trent and Vice Chairman of Tata Steel. His appointment is significant since Tata Trusts holds a 66% stake in Tata Sons, the primary holding company that oversees the operations of the Tata Group’s diverse businesses. 2. ‘Worth zero': Founder of India's once biggest startup BYJU'S concedes mistakes: Byju's, once India's largest startup, is now grappling with financial difficulties. Founder Byju Raveendran acknowledged that the company made mistakes by overestimating its growth, particularly during the COVID-19 pandemic when online education demand surged. Once valued at $22 billion, the company now faces insolvency. Although dealing with unpaid dues and allegations of mismanagement, Raveendran remains hopeful for a recovery. 3. Rapido Set to Secure $60 Mn Investment from Prosus: Rapido, the Indian ride-hailing unicorn, is on the verge of securing a $60 million investment from Dutch firm Prosus through primary and secondary share sales. This is part of a broader $200 million fundraising effort. Despite reporting a net loss of INR 674.5 crore in FY23, a 50% year-on-year increase, Rapido’s operating revenue rose to INR 443 crore, demonstrating growth potential. 4. How BOULT Built A Rs 700 Cr Revenue Brand Without Any External Funding: Boult Audio, a bootstrapped Indian brand, has achieved impressive growth, reaching Rs 700 crore in revenue without external funding. Co-founder Varun Gupta attributes the brand’s success to providing affordable, high-quality audio products in India’s booming market. Boult holds a 12% market share in the Truly Wireless Stereo (TWS) segment, which represents 55% of the audio market. 5. IIMA Ventures (formerly IIMA-CIIE): IIMA Ventures (formerly IIMA-CIIE) has supported over 7,000 founders and accelerated more than 1,700 startups since 2002. It recently launched Growth Accelerator 2.0 to help small and medium enterprises (SMEs) and family-run businesses overcome scaling challenges, solidifying its role in India's startup ecosystem. These developments underscore the dynamic nature of India's entrepreneurial landscape. What are your thoughts on these updates? #TataGroup #Byju’s #Rapido #BoultAudio #IIMAVentures #Entrepreneurship

We're thrilled to announce Rockit as the official Energy Partner of E-Summit 2024! Their energizing support will fuel our entrepreneurial spirit and drive innovation! #esummit #rockit #energypartner

Weekly RoundUp (July 29 -Aug 4) . Zomato is set to launch a new app called District, aimed at expanding its services beyond food delivery and quick commerce. The app will integrate a variety of 'going-out' activities such as dining, movies, sports ticketing, live performances, shopping, and staycations into a single platform. CEO Deepinder Goyal sees substantial growth potential, noting that Zomato’s dining-out segment alone operates at a run rate exceeding $500 million in annualized Gross Order Value (GOV). . Sikkim has a unique status in India with its complete income tax exemption under Article 371F of the Indian Constitution. This tax-free status, granted during Sikkim's 1975 merger with India and reinforced by Section 10(26AAA) of the Income Tax Act, exempts Sikkimese residents from income tax on all earnings, including from local sources and investments. The Finance Act 2023 extended these benefits to include all Sikkimese, ensuring tax relief for everyone, including those married to non-Sikkimese individuals and long-time residents. . Zerodha Asset Management Company (AMC) and its executives, including founder Nithin Kamath, have been fined by the Ministry of Corporate Affairs (MCA) for the late appointment of a Chief Financial Officer (CFO). Zerodha AMC faces a ₹5 lakh penalty, while Kamath has been fined ₹4.08 lakh. Other executives received fines ranging from ₹1.5 lakh to ₹5 lakh. The company has filed an appeal with the Regional Director, Hyderabad, contesting the order. . One97 Communications Limited , the parent company of Paytm, has launched India's first NFC Card Soundbox, a dual-purpose device that combines NFC card payment technology with mobile QR payments. This new product aims to provide small businesses with an affordable solution for accepting a variety of payments, including credit and debit cards as well as UPI transactions. The device features a long battery life, instant audio confirmation, and a display screen for transaction amounts. Despite recent financial challenges, with a net loss widening to ₹840 crore for the June quarter, Paytm's shares rose 4% following the launch. . Swiggy-backed Rapido has achieved unicorn status after a $120 million Series E funding round led by WestBridge Capital, valuing the company at over $1 billion. Rapido now claims to be the second-largest player in the Indian ride-hailing market, surpassing Ola and trailing only Uber, with 16.5 lakh daily rides as of March 2024. . Mohalla Tech, the parent company of ShareChat , raised $16 million through debt bonds from Singapore-based EDBI, bringing its convertible debentures round to $65 million. ShareChat had already secured $49 million in April from investors like Lightspeed, Temasek, and Alkeon Capital. ShareChat has become a major player in the Indian social media space, offering content in 15 native Indian languages and fostering regional engagement.

E-Summit IIT Indore invites start-ups to the Entrepreneur's Arena! We are pleased to announce the Entrepreneur's Arena, part of the esteemed E-Summit IIT Indore, organized by E-cell IIT Indore and supported by the IITI ACE Foundation. This premier event offers a valuable platform for emerging startups to showcase their innovations and engage with industry experts. 🗓 Date: August 31 📍 Location: IIT Indore ⏰ Time:10:00 AM onwards Event Structure: Round 1: We will invite applications from startups and select the top 50 to participate in the Startup Expo. Round 2: From these, a shortlist will advance to the Pitching Competition, offering a unique opportunity to present your ideas to potential investors and industry professionals. Benefits for Startups: - Product Promotion: Exhibit your products to a diverse audience, including potential customers and team members. - Collaboration Opportunities: Explore partnerships with angel investors and experts associated with IIT Indore. - Mentorship: Gain valuable insights and support from seasoned mentors and industry leaders. Event Highlights: - Expected attendance of over 15,000, including students from IIT Indore and 18+ colleges across Madhya Pradesh, as well as professors, researchers, and scientists. We invite startups to seize this opportunity to present their ideas and connect with like-minded individuals. To register, please complete the form here: https://lnkd.in/d6y26WrA Join us on August 31st at IIT Indore and take a significant step in your entrepreneurial journey! #Entrepreneurship #StartupExpo #PitchingCompetition #ECellIITIndore #IITIndore #Innovation #Networking #Investment #Investing