TheKredible

Bengaluru-based ZET (OneCode) saw its revenue grow by 2.34x in FY24, reaching Rs 37.40 crore from Rs 15.96 crore in FY23. ZET is a fintech platform that bridges the gap between consumers in Tier 2–4 cities and trusted financial services. Its flagship offerings include the Magnet FD Credit Card, co-branded with SBM, which helps users build credit scores and unlock financial opportunities. On its B2B platform, ZET Partner, the company connects consumers with banks through a vast network of trusted agents, addressing barriers like lack of awareness and access. Read more at: https://lnkd.in/grgpz9gw #fy24 #financials #startup #fintech #zet #onecode

𝗧𝗵𝗲𝗞𝗿𝗲𝗱𝗶𝗯𝗹𝗲: 𝗪𝗲𝗲𝗸-𝗼𝗻-𝗪𝗲𝗲𝗸 𝗙𝘂𝗻𝗱𝗶𝗻𝗴 𝗧𝗿𝗲𝗻𝗱 [𝟬𝟮 - 𝟬𝟳 𝗗𝗲𝗰] On a weekly basis, startup funding jumped over 500% to $333.05 million as compared to around $54.43 million raised during the previous week. The average funding in the last eight weeks stands at around $287.90 million with 24 deals per week. For detailed and complete data, visit: https://lnkd.in/dv-JdrVu #startupfunding #weeklyupdate #fundingtrends #investment #vc #startups #fundingreport #startupecosystem #thekredible

𝗧𝗵𝗲𝗞𝗿𝗲𝗱𝗶𝗯𝗹𝗲: 𝗪𝗲𝗲𝗸𝗹𝘆 𝗙𝘂𝗻𝗱𝗶𝗻𝗴 𝗛𝗶𝗴𝗵𝗹𝗶𝗴𝗵𝘁𝘀 Indian startups raised a total of $333.05 million this week across 30 deals, with growth-stage funding leading the charge at $224.76 million from 7 deals, while early-stage funding contributed $108.29 million across 20 deals. Details of 3 deals remain undisclosed. The ecosystem also saw the launch of a new fund, 3 mergers and acquisitions. For detailed and complete data, visit: https://lnkd.in/dv-JdrVu #WeeklyFunding #IndianStartups #Investments #Mergers #Acquisitions #Funding

𝗦𝘁𝗮𝗿𝘁𝘂𝗽 𝗧𝗲𝗰𝗵 𝗦𝘁𝗼𝗰𝗸 𝗦𝗽𝗼𝘁𝗹𝗶𝗴𝗵𝘁: 𝗪𝗲𝗲𝗸𝗹𝘆 𝗣𝗲𝗿𝗳𝗼𝗿𝗺𝗮𝗻𝗰𝗲 𝗥𝗲𝘃𝗶𝗲𝘄 Startup tech stocks had another strong week, with 24 out of 32 companies recording substantial gains. Logistics company BlackBuck (Zinka Logistics Solutions Ltd) led the rally with an impressive 25% surge in its stock price, followed by Swiggy, which rose by 15.6%. Other notable performers included Policybazaar.com (12.2%), Yudiz Solutions (10%), Ola Electric (9.4%), Unicommerce (8.5%), Paytm (8.2%), and Zomato (8.1%). Meanwhile, some stocks saw declines, including EaseMyTrip.com (-6.9%), MapmyIndia (-6.1%), and TBO.COM Tek (-3.9%). The overall market sentiment remained positive, with Nifty and Sensex closing higher by 2.3% and 2.4%, respectively. #StockMarket #Updates #Gains #Blackbuck #Swiggy #PolicyBazaar #Paytm #Zomato #Unicommerce #OlaElectric #EaseMyTrip #Nifty #Sensex

𝗧𝗵𝗲𝗞𝗿𝗲𝗱𝗶𝗯𝗹𝗲: 𝗗𝗲𝗰𝗼𝗱𝗶𝗻𝗴 𝗠𝗼𝗯𝗶𝗸𝘄𝗶𝗸'𝘀 𝗜𝗣𝗢 MobiKwik, the Gurugram-based fintech company, is set to launch its initial public offering (IPO) on December 11, aiming to raise ₹572 crore through a fresh issue of shares, with no Offer for Sale (OFS) component. The company plans to use the proceeds to expand financial and payment services, invest in R&D for ML and AI, improve product development, fund payment device capex, and cover corporate expenses. As per the Red Herring Prospectus (RHP), Co-Founder Bipin Preet Singh holds a 19.21% stake in the company, followed by Peak XV Partners with 16.70% and Bajaj Finance with 13.41%. In FY24, Mobikwik recorded a 62% surge in revenue from operations to ₹875 crore, alongside a profit of ₹14 crore. For more details, visit: https://lnkd.in/gGX4iMmK #Mobikwik #Fintech #IPO #FreshIssue #RHP

HomeLane has announced its plans to acquire Designcafe, a leading player in the home interiors market, in a move that is set to create one of India’s largest entities in the sector. 𝗛𝗲𝗿𝗲’𝘀 𝗮 𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗰𝗼𝗺𝗽𝗮𝗿𝗶𝘀𝗼𝗻 𝗼𝗳 𝗯𝗼𝘁𝗵 𝗰𝗼𝗺𝗽𝗮𝗻𝗶𝗲𝘀 𝗶𝗻 𝗙𝗬𝟮𝟰 HomeLane reported revenue of ₹613.6 crore but incurred a loss of ₹121.6 crore, while DesignCafe generated ₹138.3 crore in revenue with a loss of ₹35.8 crore. HomeLane is expected to be valued in the range of ₹2,500 Cr to ₹3,000 Cr, backed by ₹1,234 crore in funding from prominent investors such as Peak XV Partners and Accel. In comparison, DesignCafe is currently valued at ₹765 crore, having raised ₹462 crore from WestBridge Capital, Fireside Ventures, Sixth Sense Ventures, and others. For more details, visit: https://lnkd.in/gcvxWmtz For more details, visit: https://lnkd.in/gVqvWWpA #Homelane #DesignCafe #Acqusition #HomeInteriors #Financials

Insurtech platform Coverfox Insurance, reported a marginal decline in revenue to Rs 3.11 crore in FY24, compared to Rs 3.42 crore in FY23. Founded in 2013 and headquartered in Mumbai, Coverfox is spearheading digital innovation in the insurance industry, aiming to make insurance accessible, transparent, and user-friendly for all. The platform offers effortless, DIY insurance solutions from 50+ providers, enabling users to compare and purchase motor, health, term life, travel, and ULIP insurance products with ease. With an intuitive digital interface and expert support, Coverfox continues to simplify insurance for millions of Indians. Read more at: https://lnkd.in/gpcg7E5T #fy24 #financials #insurancetech #fintech #startup

Agritech startup, CultYvate reports a revenue surge of 2.4x, reaching ₹3.24 Crore in FY24 from Rs 1.31 crore in FY23. Founded by Mallesh T M and Bhavana M. , CultYvate, a pioneering precision AgTech startup, has made strides in empowering Indian farmers through IoT, AI, and machine learning. Established in 2016, the company leverages technology to enhance crop yields by 60% while reducing water usage by 40%. Its platform integrates field sensors, AI subsets, and satellite data to automate farm operations and improve efficiency. Read more at: https://lnkd.in/g28AZNyd #fy24 #financials #agritech #cultyvate #startup

Codebuddy Pvt. Ltd. reported a slight decline in revenue for FY24, registering ₹5.80 crore compared to ₹6 crore in FY23. Codebuddy, founded by Abhishek Gupta and headquartered in Kolkata, specializes in innovative IT solutions, including website and app development, SaaS offerings, and remote team services. Catering to B2B clients, the company focuses on providing tailored software solutions across UI/UX design, WordPress development, mobile app development, and DevOps, helping businesses streamline their operations. Read more at: https://lnkd.in/gjTp6Pav #fy24 #financials #codebuddy #software #development #startup

Founded in 2018 by Mukul Rustagi and Bhaswat Agarwal, edtech startup Classplus raised $1.6 million in its maiden funding round led by Times Internet in May 2019. This was followed by a $2.5 million funding round in February 2020, led by Surge Ventures and Blume Ventures. In May 2020, Classplus raised $9 million in a Series A round led by RTP Global and, the following month, acqui-hired Merak.ai. In September, it raised an additional $10 million and later that year onboarded Sourav Ganguly as its brand ambassador. In June 2021, Classplus raised $65 million in a Series C round led by Tiger Global Management. Early in 2022, the company appointed Manish Chawla as its CTO and secured $70 million in a Series D round led by Tiger Global and Alpha Wave Global. In September 2022, Classplus acquired a stake in Testbook via a secondary transaction. However, in August 2023, the company faced controversy when its acquisition of Saarthi went awry, leading Saarthi's co-founders to file a lawsuit against Classplus for breach of trust. In February 2024, Classplus conducted its second ESOP buyback, allowing 150 employees to liquidate their vested shares. Later in May 2024, the company launched its first college in Bengaluru, offering offline BTech courses. For more details, visit: https://lnkd.in/gptxxfEa #classplus #edtech #journey #timeline #funding