Miko, the Indian child companion robot maker, is raising Rs 1,325 crore ($155 million) in its Series D round from AMDG-PAX Foundation, a US-based non-profit organization. The company operates under RN Chidakashi Technologies Private Limited and recently issued 22,465 preference shares at Rs 5.9 lakh each, according to its filing with the Registrar of Companies (RoC). The fresh capital is aimed at supporting business requirements and general corporate purposes, with the company’s post-money valuation estimated at $550 million, representing a 2.7x jump from its previous round. Founded with a focus on AI-powered child companion robots, Miko offers products such as…
Author: Aman Atulya
Harajuku Tokyo Café, India’s fastest-growing authentic Japanese casual dining and QSR chain, has raised ₹19 crore in its first institutional funding round. The round was led by Indian Angel Network (IAN) with participation from Samved VC, LetsVenture, and venture debt fund Capitar Ventures to fuel aggressive expansion plans. Founded in 2021 by Gaurav Kanwar, Harajuku Tokyo Café has redefined Japanese dining in India, combining authentic flavors with Instagram-worthy experiences. The brand operates 7 outlets across Delhi NCR and Mumbai, generating over ₹30 crore in annual recurring revenue, with plans to scale to 90 outlets across 20 cities and achieve ₹200…
India produces nearly 40% of the world’s chillies, including some of the spiciest and most celebrated varieties like Guntur Sannam, Teja, and Bhut Jolokia. Yet, despite this dominance, Indian brands occupy just 2% of the global hot sauce market highlighting a massive untapped opportunity. Much of India’s chilli exports are raw or dried, shipped to over 100 countries, including China, Thailand, the USA, UAE, and Bangladesh. However, these exports rarely carry a brand story or cultural identity. While other nations have successfully packaged their products with emotion, flavor, and narrative, India has mostly exported its chillies as ingredients. Naagin: Giving…
Altum Credo Home Finance, a non-deposit-taking affordable housing finance company, has raised ₹170 crore ($19.5 million) in equity from its existing investor British International Investment (BII), the UK’s development finance institution and impact investor. Funding Snapshot India’s affordable housing sector continues to face a financing gap, particularly for families with informal or semi-formal incomes who are underserved by traditional lenders. Founded in 2016 by Vikrant Bhagwat, Ganesh Rao, and Ashish Tewari, Altum Credo addresses this challenge by offering long-tenure home loans in urban and semi-urban markets. Its tech-enabled origination and underwriting platform, combined with a strong on-ground presence, reduces friction…
At the Economic Times World Leaders Forum, Prime Minister Narendra Modi laid out a vision for India’s next decade of growth, signaling a decisive shift from an import-driven economy to a global technology and innovation leader. Highlighting electric vehicles (EVs), semiconductors, space, and renewable energy, Modi emphasized that “India is ready to take the world by storm with its innovation and manufacturing capabilities.” EV Exports: India Goes Global One of the most eye-catching announcements was India’s plan to export electric vehicles to 100 countries, with a high-profile event scheduled for August 26. “I want to tell you about another achievement…
Debt financing platform Recur Club has announced a strategic partnership with early-stage impact investor Enrission India Capital, designed to enhance funding access for mission-driven startups and SMEs across India. Expanding the Capital Arsenal for Startups Recur Club, which introduced a ₹150 crore (~$18 million) fund earlier this year to support D2C brands on quick-commerce platforms, will now leverage this partnership to provide eligible startups with non-dilutive capital flexibility, aligned with standard term sheets and at the founder’s discretion. Holistic Support Beyond Funding Beyond capital, Recur Club will also support Enrission’s portfolio companies with equity-fundraising, smoothing their path to institutional rounds…
The Group of Ministers (GoM) on GST has approved a major overhaul of India’s tax structure, paving the way for a simplified two-slab system. The proposal, cleared after extensive deliberations, replaces the existing 12% and 28% GST rates with a dual structure of 5% and 18%. The plan is set to be tabled before the GST Council in September for final approval. Introduction of 40% GST for Sin and Luxury GoodsA major highlight of the reform is the creation of a 40% GST slab for sin and luxury goods. This move targets products already facing steep duties, aiming to simplify…
Japan International Cooperation Agency (JICA), Japan’s official development assistance body, has committed $40 million to Aavishkaar Capital’s ‘Global Supply Chain Support Fund’ to drive inclusive and sustainable growth across Asia and Africa. The announcement was made by Japanese Prime Minister Shigeru Ishiba at the “Economic Partnership in Indian Ocean – Africa Forum.” The fund, managed by impact-focused Aavishkaar Capital, will leverage JICA’s contribution to provide credit to private corporations in India, Africa, and other emerging Asian markets. These businesses span agriculture, food processing, and manufacturing sectors and play a crucial role in international supply chains. The initiative specifically targets small…
OpenAI, the parent company of ChatGPT, has announced plans to open its inaugural office in India, located in New Delhi. This move underscores OpenAI’s commitment to expanding its presence in one of the world’s largest and fastest-growing AI markets. Strategic Expansion into India The decision to establish a physical presence in India aligns with OpenAI’s broader strategy to enhance its engagement with local developers, startups, and policymakers. By setting up an office in New Delhi, OpenAI aims to foster deeper collaborations and better understand the unique needs of the Indian market. Local Hiring Initiatives In conjunction with the office setup,…
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…