Unacademy co-founder and Test Prep business CEO Sumit Jain is stepping down from his full-time operating role at the company, with June 30 set to be his final day in an executive capacity. The development was announced by Unacademy CEO Gaurav Munjal through an internal email sent to employees. Jain will continue to remain associated with the company in an advisory role. According to the internal communication reviewed by Entrackr, Munjal credited Jain with building some of Unacademy Group’s key businesses, including creator platform Graphy and the company’s offline coaching vertical. Munjal noted that Jain played a significant role in…
Author: Adarsh Kumar
Former Kadensa Capital portfolio manager Kyle Su has launched a new hedge fund named Kuark Capital with a target corpus of $400 million. According to reports, the Hong Kong-based fund will focus on technology and artificial intelligence companies across Asia, with a particular emphasis on markets such as Taiwan and Japan. Kuark Capital plans to follow a long-short investment strategy, allowing it to take both bullish and bearish positions in listed companies while maintaining relatively low overall market exposure. The fund has also appointed Hiro Ikeda, former executive at Optimas Capital, as Director of Research. Kuark Capital aims to identify…
Agri-finance startup ONO has raised $1.2 million in a pre-Series A funding round led by Aeravti Ventures. The round also witnessed participation from angel investors and Tremis Capital. This marks Aeravti Ventures’ second investment in ONO after previously leading the startup’s seed funding round. According to the company, the fresh capital will be used to strengthen its technology platform, expand into newer markets, and deepen its lending infrastructure focused on agriculture SMEs. Founded by Rama Rao Kancharapu and David Pokuri, ONO operates a data and AI-driven platform focused on post harvest agriculture supply chains and financing solutions for agri businesses.…
Global software giant Salesforce consumed more than 12 trillion AI tokens last year as it rapidly expanded agentic AI use cases across its operations, according to the company’s Chief Digital Evangelist Vala Afshar. Afshar said the company’s AI usage is accelerating so quickly that the total token consumption recorded in the previous year could be surpassed within just the first two months of this year. Despite the rapid rise of artificial intelligence adoption, Afshar emphasized that AI is unlikely to replace humans entirely. Instead, he described AI agents as tools designed to eliminate repetitive and low-impact work, allowing employees to…
IndusInd Nippon Life Insurance reported a 15.12% rise in profit after tax to ₹248 crore for FY26, supported by strong growth in new business premium and steady customer retention. The insurer had posted a net profit of ₹215.43 crore in the previous financial year. According to the company, its new business premium (NBP) increased 18.5% year-on-year to ₹1,475 crore during FY26, while total premium collections grew 5.95% to ₹6,051 crore. The company’s assets under management (AUM) also recorded growth, rising 3.85% to ₹40,214 crore during the fiscal year. Commenting on the performance, Ashish Vohra, Executive Director and CEO, said the…
The Rise Of Nature-Centric Travel Experiences Travel preferences are rapidly evolving as modern travelers increasingly move away from crowded tourist circuits and standard hotel experiences. Today’s travelers are prioritising peaceful escapes, meaningful journeys and immersive environments that offer emotional connection and relaxation. This shift is creating new opportunities for platforms like Solis Nature, which is positioning itself as a modern travel discovery and booking platform focused on Handpicked Nature Stays and Curated Travel Experiences across India and Europe. Unlike traditional hospitality brands or hotel chains, Solis Nature operates as a nature-centric OTA designed for travelers looking to explore offbeat escapes…
Delhivery CEO Sahil Barua has criticised Amazon’s recent expansion into third-party logistics (3PL), calling it “an old product in a new wrapper” during the company’s latest quarterly earnings call. Commenting on Amazon’s decision to open its logistics infrastructure to external merchants, Barua questioned the strategic value of the move and said the model had already been attempted in the past. According to Barua, one of the key challenges in Amazon’s 3PL push is the imbalance between Amazon’s own shipment volumes and those of external merchants using Amazon Logistics. He argued that third-party sellers would remain “absolutely minuscule” compared to Amazon’s…
JSW Energy has sold 25 million equity shares of JSW Steel for approximately ₹3,150 crore through a bulk deal on the National Stock Exchange. According to a regulatory filing, the transaction involved the divestment of 2.5 crore equity shares with a face value of Re 1 each on May 18 as part of the company’s strategic liquidity management plan. Following the transaction, JSW Energy continues to hold 4,50,38,350 equity shares in JSW Steel. The company stated that the partial monetisation of its investment in JSW Steel is aimed at releasing capital to support future growth initiatives while improving return on…
Recovery-tech startup Owners ID has raised $260,000 in a pre-seed funding round led by Crucifer Investments. The Bengaluru-based startup plans to use the fresh capital for product development, manufacturing scale-up, AI-powered recovery systems, technology enhancement, mobile app upgrades, brand expansion, and global market growth. Founded in November last year by Jesintha Louis, Owners ID is building a privacy-first recovery platform that creates a digital identity layer for physical belongings using QR-based technology. The startup aims to solve the problem of lost or misplaced valuables through smart QR-enabled products that allow finders to connect with owners instantly without revealing personal contact…
TVS Motor Company-backed TVS Venu Group has announced plans to acquire up to a 9.9% stake in Jana Small Finance Bank through a mix of primary issuance of warrants and secondary share purchases. The transaction includes a proposed 4.9% stake ownership by TVS Motor Company on a fully diluted basis and remains subject to regulatory and statutory approvals. TVS Venu Group comprises multiple businesses including TVS Motor, TVS Credit, TVS Emerald, and promoter linked entities, collectively generating around $6.5 billion in revenue in FY26. The investment round also includes participation from industrialist S P Lohia and Shruti Lohia through investment…