Fintech startup Freo has acquired IndiaLends, a digital lending marketplace, in a move aimed at strengthening its position in India’s fast evolving credit ecosystem. The deal gives Freo full ownership of IndiaLends, although financial terms were not disclosed. The acquisition combines Freo’s financial products and regulatory licences with IndiaLends’ lending marketplace and distribution network, creating a more integrated fintech platform. Following the merger, the combined entity is expected to serve over 50 million users. Founded by IIT-ISB alumni, Freo offers a suite of services spanning payments, credit, insurance, and investments, and operates with multiple regulatory approvals, including a TPAP licence…
Author: Adarsh Kumar
FMCG major Emami Ltd has signed a definitive agreement to acquire a 60% stake in IncNut Digital, the parent company of Vedix and SkinKraft, for ₹321 crore, marking a strategic entry into the fast growing personalised beauty and wellness segment. The transaction includes performance linked adjustments over a 24 month period, with Emami set to acquire the remaining stake in two tranches over the next four and a-half years, subject to future performance milestones. Founded in 2011, Hyderabad based IncNut Digital operates direct-to-consumer (D2C) brands Vedix and SkinKraft. Vedix focuses on customised Ayurvedic haircare and wellness solutions, while SkinKraft offers…
Automobile classifieds platform CarTrade reported a steady performance in Q4 FY26, with revenue from operations rising 19% year-on-year to ₹203 crore, crossing the ₹200 crore mark for the quarter. The company’s net profit increased 54% to ₹71 crore, supported by controlled costs and stable growth across segments. On a sequential basis, revenue saw a marginal dip of around 3% from ₹210 crore in Q3 FY26, indicating some moderation in quarter-on-quarter momentum. CarTrade operates across three key segments Consumer, Remarketing, and Classifieds (OLX India). The consumer segment contributed the largest share at 39% of operating revenue, generating ₹79 crore. The remarketing…
Airport operations technology startup Blunav has raised $1 million in a seed funding round led by Piper Serica, as it looks to modernise airport infrastructure through a unified, cloud based operating system. The company said the fresh capital will be used for team expansion, product development, and scaling deployments across India and global markets. Founded by Suseendar Marimuthu and Cherukuru Sridharan, Blunav is building a full-stack Airport Operating System (AOS) that integrates operational workflows, passenger services, and enterprise systems into a single platform. The startup is targeting a long standing inefficiency in the aviation ecosystem. While smaller airports still rely…
Spacetech startup Skyroot Aerospace has raised $60 million (₹570 crore) in a funding round co-led by Sherpalo Ventures and GIC, propelling its valuation beyond $1.1 billion and making it India’s first spacetech unicorn. The round also saw participation from BlackRock, Arkam Ventures, Playbook Partners, Shanghvi Family Office, and existing investors, including the founders of Greenko Group. As part of the investment, Sherpalo Ventures founder Ram Shriram will join the company’s board. Founded in 2018 by former ISRO scientists Pawan Kumar Chandana and Naga Bharath Daka, Skyroot is building small and medium lift launch vehicles aimed at serving the global satellite…
Fintech major One97 Communications, which operates Paytm, reported a profit of ₹183 crore in Q4 FY26, marking continued profitability and culminating in its first full year profit in FY26. The company’s revenue from operations grew over 18% year-on-year to ₹2,264 crore in the March quarter, compared to ₹1,912 crore in Q4 FY25, according to its filing with the NSE. Including ₹178 crore in non-operating income, total revenue for the quarter stood at ₹2,442 crore, while sequential growth remained largely flat. For the full fiscal year FY26, Paytm reported 22% growth in operating revenue to ₹8,437 crore, up from ₹6,900 crore…
Instant household services startup Pronto has raised an additional $20 million in its Series B round, extending the total round size to $45 million and doubling its valuation to $200 million within a month. The latest investment comes from Lachy Groom, following an earlier $25 million tranche backed by investors including General Catalyst, Bain Capital Ventures, Glade Brook Capital Partners, and Epiq Capital. With this, Pronto has raised around $60 million to date. Founded in 2025 by Anjali Sardana, Pronto connects households with trained and background verified professionals for services such as cleaning, laundry, utensil washing, cooking, car washing, and…
Climate focused non-banking financial company Ecofy has secured $15 million in debt funding from Mirova, as it looks to expand financing for clean energy and sustainable solutions across India. The latest infusion follows a ₹380.5 crore ($42 million) Series B equity round co-led by British International Investment and Finnfund in March this year, as well as a ₹90 crore investment from FMO in January 2024, reflecting sustained investor interest in climate finance. Ecofy said the fresh debt capital will be deployed towards onward lending, particularly for residential and commercial rooftop solar installations, along with electric mobility solutions, as demand for…
Quick commerce startup Apna Mart has laid off around 10% of its workforce, marking its first reported job cuts, as part of a broader restructuring exercise linked to AI adoption and a shift in its operational base from Bengaluru to Gurugram. The layoffs impacted approximately 35–40 employees across functions, with the company indicating that some roles became redundant due to AI-led automation, while others were affected as relocation to Gurugram was not feasible. As part of the transition, Apna Mart has moved its product and technology teams to Gurugram, while operational teams will continue to function from cities where the…
AI-native enterprise automation company EvoluteIQ has announced two key global leadership appointments following its $53 million investment from Baird Capital. The company has appointed Paul Maguire as Chief Growth Officer and Abhinaya S R as Chief Human Resources Officer, strengthening its leadership team as it accelerates global expansion in the fast growing Agentic AI and enterprise automation market. The appointments also reinforce India’s strategic importance in EvoluteIQ’s global operations. Bengaluru serves as the company’s major innovation and R&D hub, housing core engineering teams behind EvoluteIQ’s proprietary Agentic Mesh Architecture (aMa). India Positioned as the Core Innovation Engine Sameet Gupte, CEO…