Smartworks, the managed office space provider, has trimmed its stake in associate company CleanMax (CleanMax DOS Pvt Ltd) from 24.82% to 9.08%, according to a recent stock exchange filing. The shares—worth approximately ₹99 lakh—were sold to Clean Max Enviro Energy Solutions Limited, and since the buyer isn’t part of the promoter group, this doesn’t count as a related-party transaction. With this move, CleanMax is no longer categorized as an associate of Smartworks. Financial Momentum Smartworks recently made its stock market debut, raising ₹445 crore via a fresh issue and ₹137.5 crore through an offer-for-sale (OFS). Its stock began trading at…
Author: Aman Atulya
Fantasy sports giant Dream11, one of India’s largest gaming startups, has announced the discontinuation of its core real-money gaming business. The decision marks a significant setback as RMG had been the platform’s primary revenue driver. The ripple effect has spread quickly. My11Circle (Games24x7), MPL, Zupee, Gameskraft’s RummyCulture, and Probo have all shut down their money-based verticals. While MPL will continue focusing on international markets, which contribute nearly 50% of its revenues, domestic real-money operations have been discontinued. Similarly, Zupee and Probo confirmed they would continue offering free-to-play formats while exiting money-linked games. Spokespersons from MPL and Probo underlined their compliance…
New Delhi | August 21, 2025 — Deep-tech-backed FMCG startup Mitra has raised ₹14 crore (approx. $1.6M) in a bridge funding round led by Bestvantage Investments, with participation from existing investors including a Dubai-based family office. How the Funds Will Be Used The capital will be deployed to launch a 3,000-tonne refined flour (maida) manufacturing plant in October. Mitra is also expanding its product portfolio to include millet-based, gluten-free, sugar-free, diabetic-friendly flours, and organic spices, and enhancing its presence in Gulf Cooperation Council (GCC) markets. The firm is integrating smart manufacturing technologies to improve efficiency and production. Impressive Growth Trajectory…
New Delhi | August 21, 2025 – The Payments Council of India (PCI) has unanimously re-elected Vishwas Patel, Joint Managing Director of Infibeam Avenues Limited (CCAvenue), as Chairperson for the 2025–27 term. Alongside Patel, the PCI Executive Council also announced the appointment of M. N. Srinivasu, Co-founder & Director of BillDesk, and Nalin Bansal, Chief of Corporate Fintech Relationships & Key Initiatives at NPCI, as Co-Chairpersons. PCI’s Role in India’s Digital Push PCI serves as the apex industry body for the country’s digital payments ecosystem, representing banks, card networks, UPI players, wallets, gateways, and fintechs. The council plays a crucial…
New Delhi | August 21, 2025 – The Rajya Sabha on Thursday passed the Promotion and Regulation of Online Gaming Bill, 2025, finalizing its passage just a day after approval by the Lok Sabha. What the Bill Covers Government’s Perspective Union IT Minister Ashwini Vaishnaw emphasized the social costs of online money gaming, calling it a problem even worse than drug abuse. He said several young lives have been lost, and the bill will protect families and bolster legitimate gaming sectors like e-sports. Secretary S. Krishnan (MeitY) added that the real issue isn’t e-sports, but real-money games. He reaffirmed the…
New Delhi | August 21, 2025 – In 2022, Pankaj and Surbhi Garg sat in a quiet room with only a laptop, an idea, and unshaken belief. They weren’t chasing investors or headlines. They were chasing a vision: to give India its own homegrown footwear brand -Bersache No office. No warehouse. No team. Every order in the early days was packed by their own hands. Every delivery felt like a victory. Behind the late nights and silent doubts was one truth they refused to stop walking. The Product That Carried the Dream Bersache wasn’t built on hype. Each shoe was…
Bengaluru | August 21, 2025 – Edge AI hardware startup Edgehax has secured ₹1.39 crore in a Seed round led by Inflection Point Ventures (IPV). The funds will be deployed to scale manufacturing, accelerate new product development, and expand market presence across India, Singapore, the US, and Europe. Funding Snapshot Problem & Solution Founded in 2025 by Prabhu Stavarmath and Savitri Patil, Edgehax builds modular Edge AI computing platforms that integrate compute, connectivity, and storage on a single board. By enabling real-time AI processing closer to the device, the startup reduces cloud dependency and powers next-gen applications. Its boards are…
Bengaluru | August 2025 – Fintech startup Kiwi has closed a ₹208.5 crore (approximately $24 million) Series B funding round led by Vertex Ventures, with participation from Nexus and possibly other existing backers. Supercharging Credit on UPI Founded in 2022 by industry veterans Siddharth Mehta, Anup Agrawal, and Mohit Bedi, Kiwi empowers customers to access virtual RuPay credit cards that integrate directly with UPI apps like Google Pay and PhonePe. The startup’s full-stack platform working with Axis Bank and NPCI reinvents the credit experience on UPI, offering seamless digital credit at scale. What’s Ahead This fresh capital will fuel Kiwi’s…
Bengaluru, August 20, 2025 – The Karnataka Legislative Assembly has passed the Platform-Based Gig Workers (Social Security and Welfare) Bill, 2025, becoming a trailblazer in the South for gig worker protection. Key Provisions: Building the Gig Safety Net Why It’s a Game-Changer With the gig workforce in India projected to reach 23.5 million by 2029–30, and over 400,000 gig workers already in Karnataka, this legislation is timely and crucial.Labour Minister Santosh Lad noted the extreme working conditions many face, with delivery partners working 18-hour shifts for minimal pay highlighting the urgent need for reform. For founders building gig platforms especially…
Banswara, Rajasthan | August 20, 2025 – In a bamboo-rich corner of Rajasthan, two friends saw a double crisis unfolding: plastic pollution everywhere and local jobs disappearing fast. Their answer became Bamboo Anna, a small-town startup that is now reshaping how India thinks about sustainability. India generates over 3.5 million tonnes of plastic waste annually, much of it single-use. At the same time, rural artisans struggle for meaningful work. Bamboo Anna set out to solve both problems with one material—bamboo. By redesigning daily essentials like toothbrushes, tongue cleaners, shaving razors, pens, bottles, and eco-friendly hotel kits, Babmoo Anna created affordable…