India’s leading online travel aggregator (OTA), MakeMyTrip, is set to raise over $2.5 billion in a significant financial move aimed at buying back shares from Chinese firm Trip.com Group, effectively cutting its Chinese shareholding by more than 20%. The capital raise will be executed through a combination of equity and convertible note offerings, according to regulatory filings submitted to Nasdaq. Capital Raise Breakdown MakeMyTrip will issue: At MakeMyTrip’s current stock price of $100.88, analysts estimate that—even with a conservative 10% discount—the equity issue alone could raise between $1.27–1.3 billion. When combined with the proceeds from the convertible notes, the total…
Author: Aman Atulya
Bengaluru-based edtech startup illumine has raised $2.5 million in seed funding led by Prime Venture Partners, marking a significant milestone in its mission to reshape early childhood education with AI. This funding round includes a previously announced $779K, bringing the total seed capital to $2.5 million. The startup plans to use the proceeds to accelerate product development and expand its global footprint, according to an official press release. A Full-Stack AI Solution for Early Childhood Education Founded in 2018 by Navneet Rastogi, Purva Goyal, and Sourabh Agarwal, illumine has created a full-stack childcare management platform aimed at modernizing the fragmented…
GlobalBees Brands Pvt Ltd, a leading roll-up commerce firm and a subsidiary of Brainbees Solutions Ltd (the parent company of FirstCry), has come under legal scrutiny after an insolvency plea was filed against it at the National Company Law Tribunal (NCLT), New Delhi. The application has been filed under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016 by the directors of Kuber Mart Industries—Ashutosh Garg, Paritosh Garg, and Manju Agarwal—alleging a default of ₹64.92 crore, including interest at 18% per annum from May 9, 2025, until the date of actual repayment. Insolvency Application at Admission Stage The plea…
Urban Company, India’s largest home services marketplace, has posted a 38.2% year-on-year revenue growth, reaching ₹1,144 crore in FY25, according to its latest annual report. The company also marked a major financial milestone by turning profitable during the fiscal year ending March 2025, a significant turnaround from its ₹92.7 crore loss in FY24. 6.8 Million Transactions, 51 Cities, ₹3,115 Cr Gross Transaction Value Operating across 51 cities and internationally in UAE, Singapore, and Saudi Arabia, Urban Company completed 6.8 million customer transactions under 17 super categories. The company achieved a total net transaction value (GTV) of ₹3,115 crore, a strong…
Fintech giants Paytm and Mobikwik have announced significant new employee stock option (ESOP) grants as part of their ongoing talent retention and incentive strategies, even as they continue to optimize operations and reduce losses. Paytm Rolls Out ₹215 Cr ESOPs Under 2019 Plan Paytm, operated by One97 Communications, has approved the grant of 23.7 lakh stock options under its ESOP 2019 plan, according to a regulatory filing with the National Stock Exchange (NSE). At the current market price of ₹906 per share, the total value of the ESOP grant is estimated at ₹215 crore. Each stock option carries an exercise…
Nykaa, the omnichannel beauty and fashion retailer, posted strong financial results for the fourth quarter and full fiscal year FY25, marking a notable rebound in profitability and growth across its core segments. Strong Revenue & Profit Growth in Q4 FY25 As per consolidated filings with the National Stock Exchange (NSE), Nykaa’s revenue from operations for Q4 FY25 climbed 24% year-on-year to ₹2,061 crore, up from ₹1,667 crore in Q4 FY24. The company also posted a 90% year-on-year jump in quarterly profit, reaching ₹19 crore in Q4 FY25, compared to ₹10 crore during the same period last year. Full-Year FY25 Performance…
Steptrade Capital has announced the first close of its third Alternative Investment Fund (AIF)—the Steptrade Revolution Fund-II (SRF-II)—with a total deployment target of ₹1,000 crore. The fund will channel investments into India’s listed and unlisted small and microcap businesses, a segment crucial to India’s real economic engine. A Focused Strategy on Bharat’s Core Sectors SRF-II builds on the momentum of its predecessors—Chanakya Opportunities Fund and Steptrade Revolution Fund-I—by continuing to back high-growth potential businesses across underpenetrated sectors. The fund’s investment scope will span: “This early close shows that investors believe in our strategy. Our focus is clear – bottom-up research,…
SarvaGram, a Pune-based rural-focused credit and fintech startup, has raised ₹565 crore (approx. $67 million) in a Series D funding round led by Peak XV Partners. The round also saw participation from existing investors—Elevation Capital, Elevar Equity, Temasek, and TVS Capital. This latest round has doubled the company’s valuation to approximately ₹1,785 crore ($212 million) from ₹790 crore ($94 million) in its previous Series C round, as per regulatory filings reviewed by Entrackr. Funding Breakdown and Investor Stakes While SarvaGram did not disclose full details publicly, filings with the Registrar of Companies (RoC) revealed the round structure: InvestorInvestment Amount (₹…
Pocket Entertainment, the parent company behind Pocket FM, Pocket Toons, and Pocket Novel, has promoted Umesh Bude to the position of Chief Technology Officer (CTO). Previously serving as Senior Vice President of Engineering, Umesh will now drive the company’s overarching technology vision, focused on pioneering the future of AI-driven storytelling. Leading Tech Strategy Across Storytelling Platforms As CTO, Umesh will oversee Pocket Entertainment’s end-to-end tech strategy, working across all digital verticals to shape next-gen user experiences, elevate generative AI capabilities, and embed responsible innovation across every touchpoint. His focus will be on global scale, seamless delivery, and tech-first storytelling. “It’s…
InCred Money, the digital wealthtech arm of InCred Group, is all set to mark its foray into India’s retail brokerage sector with the acquisition of Stocko, a New Delhi-based discount broking platform. The deal, reportedly valued at ₹300 crore, is subject to regulatory approvals and will significantly expand InCred’s full-stack financial services ecosystem. Strategic Expansion into Retail Broking Once approved, the acquisition will result in Stocko—currently run by South Asian Stocks Limited—being rebranded as InCred Stocko and seamlessly integrated into the InCred Money platform. “InCred Stocko gives us a proven platform with serious volume, and we’ll bring our tech, capital…