Ride-hailing unicorn Rapido has entered a strategic partnership with hyperlocal commerce platform magicpin to expand its food-delivery arm Ownly, in a bid to rival market incumbents Zomato and Swiggy. The deal will leverage magicpin’s nationwide restaurant network and Rapido’s delivery fleet, with the aim of rapidly scaling Ownly’s footprint beyond its initial Bengaluru launch. Partnership Highlights and Operational Dynamics Magicpin brings a partner base of 80,000+ restaurants across India, which Ownly can tap to scale its offering. In exchange, magicpin will access Rapido’s delivery-capable captain fleet in select cities, helping it bolster its quick-commerce and food-delivery ambitions. The relationship marks…
Author: Aman Atulya
Cross-border venture capital firm Pontaq Ventures has invested Rs 5.5 crore (around $660,000) across two Indian deeptech startups, Dweepi and Edgehax, marking its second round of funding in both ventures. The fresh capital will accelerate product development, strengthen engineering capabilities and drive large-scale enterprise deployment in India and international markets. Strengthening India’s Deeptech Pipeline Headquartered in Chennai, Pontaq has built one of the most active deeptech portfolios in the UK–India corridor, backing over 190 startups, including more than 140 deeptech ventures. The fund primarily invests in AI, robotics, IoT, edge computing, enterprise automation and other frontier technologies, while offering startups…
Distribution and logistics platform Ripplr is in the final stages of raising Rs 400 crore ($45 million) in a new funding round led by the State Bank of India (SBI), marking one of the rare equity investments by India’s largest lender into a startup. Existing backers 3one4 Capital, Zephyr Peacock, Sojitz Corporation, Fireside Ventures and Northern Arc are also expected to participate. Funding Structure and Investor Participation According to people familiar with the discussions, the round is structured across primary capital, secondary share sales, and a debt component.Around $30–32 million will flow in as primary capital to fuel Ripplr’s operations…
Colour cosmetics brand FAE Beauty has raised Rs 17 crore ($2 million) in a new funding round led by Spring Marketing Capital, with participation from existing investors Titan Capital Winners Fund, Arihant Patni, and several angel backers. The round strengthens FAE’s product innovation and market expansion plans as it deepens its presence across India’s fast-growing beauty landscape. Building Makeup for Indian Skin Tones Founded by Karishma Kewalramani, a UC Berkeley graduate and trained makeup artist, FAE Beauty focuses on creating shade-inclusive, undertone-specific makeup designed for Indian consumers. The brand’s hero products — Lip Whip, Lush Blush and Eye Deal Kajal…
Credit-access platform FinReach Solutions has secured Rs 21.9 crore ($2.6 million) in a new funding round led by Colossa Ventures, with participation from existing investors including the Michael & Susan Dell Foundation, Omidyar Network Fund Inc, and Caspian SME Impact Fund IV. The company has now raised Rs 54.4 crore to date, following an earlier Rs 32.5 crore infusion from its investor group. Strengthening Technology, Risk Systems and Guarantee Capacity FinReach will use the fresh capital to scale operations and expand its private-sector credit guarantee facilitation, a model designed to help lenders extend credit to micro and small enterprises that…
Wealthy.in, India’s fast-growing wealth-tech platform for mutual fund distributors and wealth professionals, has raised ₹130 crore in its latest Series B round led by Bertelsmann India Investments. The round also saw participation from existing investor Alphawave Global, new investor Shepherd’s Hill, and several prominent tech entrepreneurs. Rapid Growth Across India’s Expanding Wealth Market Founded by IIT–IIM alumni Aditya Agarwal and Prashant Gupta, Wealthy has built one of India’s most active wealth distribution networks. The platform processes ₹300 crore in monthly transactions, works with 6,000+ mutual fund distributors, and serves 100,000+ clients across more than 1,000 towns. Its AUM has surged…
In a major setback for embattled edtech founder Byju Raveendran, the Delaware Bankruptcy Court has issued a default judgement holding him personally liable to repay more than $1 billion. The ruling comes after repeated findings that Raveendran failed to comply with court-mandated discovery requirements in the ongoing dispute involving BYJU’s Alpha and US lender GLAS Trust Company LLC. Court Cites “Willful Failure” to Comply According to the judgment dated November 20, 2025, the court found that Raveendran had “knowingly refused” to obey discovery orders despite multiple warnings and contempt findings. The order specifies two components:• $533 million under Count I•…
Student Forge, founded by Jashwanth Sonti, is emerging as one of India’s most student-centric learning platforms born directly from the founder’s own journey through confusion, lack of guidance, and the struggle to find direction. A Journey That Began With Uncertainty After completing his 10th grade, Jashwanth took an unconventional path by joining a Diploma program to explore new possibilities. His passion for technology led him to pursue B.Tech, shifting departments from EEE to CSE a dream move, but one filled with challenges. Entering straight into second year with no foundational knowledge, he found himself overwhelmed. There was no mentorship.No roadmap.No…
Spacetech startup Agnikul Cosmos has raised Rs 150 crore ($17 million) in a new funding round that values the company at Rs 4,200 crore ($500 million), placing it among India’s most valuable private spacetech ventures. The round saw participation from Advenza Global Limited, Atharva Green Ecotech LLP, HDFC Bank, Artha Select Fund, Prathithi Ventures, 100X VC and multiple family offices. Capital to Scale Reusable Launch Architecture Agnikul will use the funds to expand production of rocket and aerospace components, accelerate its stage recovery program, and deepen development of its reusable launch architecture. A key focus area includes the company’s recently…
Ahead of its planned IPO, wearable and audio brand BoAt has reported a sharp acceleration in domestic manufacturing, transitioning 75.83% of total production to India in Q1FY26, up from 39.65% in FY23. As of June 30, 2025, the company has manufactured over 75 million units in the country, according to its updated draft red herring prospectus filed with SEBI. Manufacturing Backbone Scales Rapidly BoAt produced 6.36 million units in India in the three months ended June 30, 2025, compared with 4.42 million units in the same period last year. This growth reflects its expanding India-first supply chain anchored by its…