The firm was founded by Pravin Jadhav, the former CEO of Paytm Money, to offer an online trading platform. Some of Dhan’s existing investors include 3one4 Capital, Mirae Asset Venture  Investments, and Beenext. The trading startup intends to use these fresh proceeds to scale its operations, enhance its platform, and launch new services while aiming for market expansion. The investment will help Dhan to enhance its capability by integrating new technologies, networks, and services. This online stock trading and investment platform offers applications like investing in  Mutual funds and stocks. The company aims to help individuals make investments and create wealth in India. 

The investment platform helps long-term traders to invest and trade in securities quickly. The application uses advanced tools and technologies to make online trade secure and easier for its users.  The platform lets its users access the financial condition of companies, such as market capitalization and income statements. The source, aware of the deal, mentioned that looking at this revenue run rate, the firm will go for around a 15-fold increase. The new funding round will be the first funding round for the startup since its inception. The startup is at a revenue run rate of Rs 830 crore with a net profit margin of 40 percent.  

The fundraising news came just after the Indian stock market and trading sector saw increased investor interest and robust retail participation. After this round, the company is expected to turn unicorn. India has only reported three unicorns for this year so far. Dhan is a SEBI-regulated trading platform that follows all the depository participant rules and regulations. The web trading platform does not charge any brokerage fees for equity delivery. The startup allows users to invest in mutual funds, stocks, term insurance, gold investments, and other wealth management services. The company faces competition from other investment and trading companies, including Groww, Upstox, and  Zerodha.  

Conclusion 

Dhan is a trading application under Raise Financial Services that will raise $100 million at a valuation of 1.5 billion USD in its new funding round. The company intends to use this fresh fund to scale its operations, enhance its platform, and expand its network while improving its financial capabilities.  The startup will also use some of this investment to solidify its position in the investment market. The platform uses advanced technologies to offer the best user experience while following regulatory compliance. The company provides investment guides and tools for long-term investors. The investment platform plans to improve the trading experience and contribute to the stock market’s growth in India. Dhan competes with Groww, Uptox, and other trading startups.

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Adani Power

The most impressive performer during this period was Adani Power which has risen by 179 percent in the last financial year. APSEZ (Adani Ports and Special Economic Zone) was second on the list registering an outstanding 112 percent increase in the share price. Its renewable energy arm – Adani Green Energy Ltd – has also risen by 108% as well. 

Bullish on several Adani Group Businesses

There is optimism among analysts on several of the Adani Group companies particularly those in the infrastructure space. The projected growth is expected to be realized in the ports and cement businesses in FY25 due to the rising capex spending and a government focus on infrastructural projects. However, investors should be watching the developments in coal prices and trading activities since a part of Adani Enterprises’ revenue is derived from the trading of coal. 

Technical Analysis

Adani Power rose to prominence after Reliance Industries (RIL), headed by Mukesh Ambani, bought a 26% stake in a Madhya Pradesh power project owned by Gautam Adani. Mahan Energen Ltd., an arm of Adani Power, signed a 20-year long-term PPA for 500 MW with RIL under the captive consumption policy. Interestingly, Adani Power’s stocks have also firmed up and almost touched their lifetime highs. The support is at ₹560 and remains bullish beyond ₹600 for a further up move in stock price. 

Adani’s Infrastructure Projects

The Adani Group is currently involved in several infrastructure projects within different sectors. Adani Group looks forward to nation-building by constructing National Highways, expressways, Tunnels, Metro-Rail systems, and Railways. With this, they have successfully developed several railway lines in India and abroad; the longest private railway lines are approximately 300 km in India itself. These are private rail lines transporting their ports, mines, and other business centers to facilitate easy cargo movement.

They envisage that the capital expenditure of Adani Group in Tamil Nadu would exceed ₹42,700 crore. Adani Green Energy Ltd plans to invest an estimated ₹24,500 crore in three pump storage projects (PSPs) in the next 5-7 years. It will build a hyperscale data center for Adani Connex, which will cost ₹13,200 crore. Over the next five years, three cement grinding units of Ambuja Cements Limited will get an investment of ₹3,500 crore. Adani Green Energy thus commissioned the largest wind power project in India, which has a generation capacity of 250 MW in the Khavda region. The total installed capacity of the plants functional at Khavda is approximately 2250 MW. 

Conclusion

The Adani Group stocks have remained high beta stocks that are good for long-term high-risk-seeking investments. As the conglomerate covers more ground in the future, stockholders will continue to gain more wealth in the forthcoming quarters. These projects are part of the Adani Group’s strategy to practice sustainable development and wealth creation across sectors.

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The startup is likely to become a unicorn after this round. The company previously secured $75 million in 2022 during its Series D funding round from Owl Ventures with the participation of Peak XV partners Steadview, Jungle Ventures, and Paramark Ventures. The company reported its valuation during this round around $850 to $900 million.

The deals and agreements of the new funding rounds are still not known. The company aims for a $1.2 billion valuation during the series E round. The startup plans to use the investment to scale its operations, enhance its platform, improve its services, strengthen its security, and meet general purposes. This round is rumored to be a mix of primary and secondary capital. After this round, some early and angel investors may partially or fully leave the company. 

The startup offers educational loans to students studying or pursuing education abroad. The platform also provides test preparation applications for overseas education such as IELTS, SAT, and TOEFL. The startup also enables admission and visa counseling with financial offerings through Leap Finance, Yochke, and LeapScholar. This fintech platform also assists with global bank accounts, money remittances, and credit cards. Leap Finance raised $175 million since its inception till the series D  round. The company claims to have disbursed loans to more than 3,000 students. The startup mainly focuses on the US, UK, Australian, and Canadian institutions. 

The fintech startup funds up to 100% of the cost of attendance, including tuition fees, books, rooms, transportation, and other personal expenses for students studying abroad. In addition, the firm does not ask for any immovable collateral. The company wants to revolutionize education-based loaning services locally and globally. The startup data intelligence platform, The Edible, mentioned that the top competitors of Leap Finance, including Financepeer, Auxilo, Avanse Financial, Graquest, Mpower Financing, Propelled, and Eduvanz, altogether raised $500 million in one year. 

Conclusion

Leap Finance is an education-based Indian fintech startup that plans to raise $100 million in its new funding round. The company plans to hold its latest round at a valuation of $1.2 billion. The startup offers education-related loans to students pursuing higher education in foreign countries, especially in the UK, US, Canada, and Australian institutes. The startup has secured around $175  million since its inception, including $75 million raised in its series D funding round led by Steadview,  Owl Ventures, Paramak Ventutes, and Peak XV partners. The company claims to have provided education loans to around 3,000 students.

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Strategic Significance

Covrzy now has a broking license from IRDAI, enabling it to act as an insurance broker to its clients and offer multiple insurance solutions. This development is believed to significantly enhance Covrzy’s capacity to provide tailored and integrated insurance products to enterprises and people in India. The license will make Covrzy an insurance broker that will connect insurance companies with customers and ensure that clients get the best coverage to suit the company’s needs. 

Innovative Approach

Covrzy has been one of the pioneers who strategically implemented technology to make the insurance process more efficient and enjoyable. The platform offers to simplify the process of purchasing business liability insurance for over 60 million MSMEs and startups across India. With the help of state-of-the-art algorithms and data analysis, Covrzy offers on-the-spot insurance quotations and products, diminishing the procurement process intricacy typical for the insurance industry. It includes a full-stack solution and supports companies and startups in finding suitable products and increasing insurance density. 

Sustainable Growth

The growth signifies a strong potential for insurtech startups such as Covrzy to gain a large market share, given that they provide better and tailored services. Covrzy has expanded into the broking space well on time as business liability insurance is rising in the market. The startup targets fulfilling the needs of MSMEs and startups because they lack proper access to cheap and appropriate insurance products. This means that Covrzy has the flexibility to deliver relevant services that can make its company a significant player in the insurance market.

Crozy’s Technology Stack

Covrzy is an insurtech startup causing quite a stir in the insurance market due to its potential. Covrzy’s website actively uses two technologies: CrUX Top 50m and CrUX Dataset. These technologies probably help the platform offer better performance and usability to the end-users.

MSMEs and startups across India can benefit from Covrzy’s platform, which strives to provide a solution that will make it easier for such businesses to get insurance. They offer a full suite for advisory, management, and claims all under one roof. Covrzy utilizes the power of algorithms and a rich data set to offer instant quotes and bespoke insurance services, eliminating the cumbersome process of insurance buying.

Therefore, Covrzy has a fitting place in the insurtech market with its products. They specialize in business liability insurance while targeting the MSME sector and Startups. Their mission is to provide this insurance product to the market and assist businesses in understanding it and purchasing it properly. 

Conclusion

Having acquired the broking license, Covrzy can fulfill its mission and achieve strategic goals much faster. It intends to grow its team, pursue new technologies, and look for new market opportunities. In this manner, Covrzy intends to develop its platform further and provide more value to its clients. 

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Funding and Strategic Goals

Devnagri’s latest round of funding is the Pre-Series A funding round. The money will be used to expand operations, improve AI and machine learning technologies, and access new markets. The specifics of the funding raised in this round have not been made public, but it should significantly boost the company’s growth prospects.

This funding round’s focus is on supporting Devnagri’s technological development and services. For future growth, the company aims to boost research and development costs to enhance the efficiency of the AI-based translation platform. Similarly, Devnagri intends to expand its customer base by targeting new industries and geographic markets. 

Innovative Technology and Services

Devnagri uses artificial intelligence and machine learning to provide accurate language translation services. Neural machine translation is integrated with a team of human translators to provide quality and contextually appropriate translations. This integrated approach gives confidence in the translation as it meets not only the linguistic requirements but also the cultural aspects that clients from different backgrounds may require.

By combining Artificial Intelligence with human endeavor, the company can assist businesses in expanding across borders in any language by cutting costs by 50% with real-time delivery tracking and reducing translation time by 80%. Devnagri supports more than 20 Indian languages and, therefore, can be a valuable asset for any company that plans to enter the big and diverse Indian market. 

Market and Growth Impact

The market for language and translation services in India is set to expand due to the growing need for localized content. With over 1.3 billion people and many languages, India promising a market for LSPs. With its new ideas and solid technological base, Devnagri is poised to exploit this expanding market.

According to industry specialists, the Indian vernacular language and translation market is estimated to be around $53 billion. This market comprises segments like e-commerce, education, publishing, and entertainment, all of which are growing fast. Devnagri’s ability to deliver complex and accurate translations at a large scale makes it an ideal provider for businesses in these industries.

Vision of Devnagri

Devnagri was started by Nakul Kundra and Himanshu Sharma. They have vast experience and knowledge to develop the company. Nakul, an experienced businessman, and Himanshu, a technologist, have been playing the key role of building and leading Devnagri. Their vision is that the internet must be made accessible to 90% of India’s population, and there is a dearth of content in regional languages. 

Conclusion

With the new capital in place, there is no reason why Devnagri cannot grow and expand the company and achieve its strategic goals. The company strengthens its staff, introduces sophisticated AI and machine learning solutions, and pursues new market opportunities. In this way, Devnagri targets to be the platform of choice for AI-based language translation services in India and internationally. 

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This EV startup is expected to have a valuation of around 4.5 billion USD for its upcoming IPO round.  This marks up to a 20 percent decrease from its last funding round. The company raised $50 million in its debt funding round led by EvolutionX debt Capital. The company secured the funding by allotting  41,000 NCDs with an issue price of Rs 1 lakh each. Ola Electric uses advanced technologies to offer quality electric vehicle components in India. The startup has an omnichannel distribution network that includes 935 experience centers and over 414 service centers.

Ola Electric has raised over 1 billion  USD from its equity and debt rounds at a valuation of 5.5 billion USD since its inception to date. The company announced a seven-times increase in its operational revenue to Rs 2,631 crore for FY23, and the losses increased by 87.76 percent to Rs 1,472 crore for the same period. The startup also filed a draft red herring prospectus with SEBI to raise Rs 5,500 crore through initial public listing in December last year.  

Ola Electric offers two-wheeler electric vehicle components and around five scooter models with a warranty to its users. The startup also passed a resolution to issue 10,000 non-convertible debentures to Alteria Capital at an issue price of Rs 1,00,000 each. The board issued 6,000 NCDs to Alteria Capital  India Fund II, and the remaining NCDs were allocated to Alteria Capital India Fund III.  

The company reported that its net losses saw an 88% increase to Rs 1,471.6 crore in FY23. However,  the revenue from operations surged by 605% YoY to Rs 2,630.9 in the same financial year. The development came just after the EV sector saw increased interest from investors. This segment is expected to grow in size in upcoming years. The Bengaluru startup, Ather Energy, recently raised $34.5  million in a debt and equity round. Ola Electric faces competition from other two-wheeler electric vehicle manufacturing companies such as Vida, Bajaj Chetak TVS, Ather Energy, and more.  

Conclusion

Electric Vehicle manufacturing startup Ola Electric plans to launch its $740 million IPO next month.  Last month, the EV startup also received approval for its 660 million USD Initial Public Offering from the Security Exchange Board of India. The company expects a 20 percent decrease from its last funding round and has a valuation of $4.5 billion for this upcoming IPO round. Ola Electric manufactures electric components and two-wheeler vehicles with a warranty on its cars. The startup operates omnichannel distribution networks with over 414 services and 935 experience centers across India.  The company has secured over 1 billion USD since its inception.

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Unimech was founded in 2016 by Anil Puthan to offer complex tools and precision components for military, aerospace, defense, and power-generating purposes. The startup specializes in manufacturing high-precision tools for aero engines for logistics, medical, and surveillance. The startup has secured the funds at a post-money valuation of $390 million. The company plans to use these fresh proceeds to scale its production, enhance its components, pursue both organic & inorganic growth, and refine products. The startup also manufactures components for semiconductor industries. Therefore, the top clients for the aerospace company include top aerospace, defense, energy, and semiconductor OEMs.  The startup faces competition from other aerospace manufacturing companies such as Hindustan  Aeronautics, ideaForge, and Mahindra Aerospace. 

The startup has established its network in the USA, Europe, and the UK as an export-oriented company.  The firm plans to expand its brand presence in other countries. This investment reflects investors’ confidence in Unimech’s market potential and business model. The company plans to expand in the offline market and solidify its brand presence globally. According to the company filing, only 26  startups went public since 2021 and Unimech expects to become the first venture-funded aerospace manufacturing startup to go public in India. This investment will help the company decrease net losses and increase profitability as the Indian aerospace sector proliferates. 

The company claims to offer MRO, line maintenance, component assembly tools, and GSE according to the highest standards. The Aerospace startup reported that its revenue increased to Rs 28 crore with profitability of Rs 2.81 crore in FY23. The company claims to have an annual revenue of $24 million in FY24. The Indian aerospace market is predicted to increase in size at a CAGR of 6.99 percent and reach the $54.4 to $70 billion mark by 2033. The Indian aerospace and defense market size for 2024  was valued at 27.1 billion USD. Many startups recently raised maiden debt funding rounds, including Incuspaze, Libas, and Technosport. 

Conclusion

Unimech Aerospace is a precision component manufacturing startup that secured $30 million in its first maiden funding round. The investment was led by Steadview Capital Mauritius Limited, along with the participation of other investors, including ValueQuest Scale Fund and Evolvence India Fund IV. This funding round was part of a private placement round. The company intends to use this fresh capital to scale its production, enhance its components, and grow in the market. Unitech aims to become the first venture-funded aerospace manufacturing startup to go public in India. The startup manufactures high-precision components for different sectors, including aerospace, defense, and semiconductor.

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The startup uses artificial intelligence-based technologies to help organizations address cybersecurity by identifying threats and issues and offering solutions. The startup provides a platform that lets an individual find exposed passwords and offers solutions to respond to cyberattacks. The company also gives a cyber health score to inform those organizations of their security health. The increased usage leads to a new landscape of threats and risks involving AI models, such as privacy, data leakage, and other concerns. In this ever-changing landscape, the emergence of Proptexxa plays an important role in defending systems against cyber attacks. The application allows businesses to develop a scalable production of cyber security systems and manage cyber-attacks. 

The company also secured $5 million in its seed funding round during 2021. The CEO and founder of Protexxa, McGowan, mentioned that artificial intelligence is providing attackers more opportunities to scale, and there is a shortage of cybersecurity talent to help reduce these risks surrounding AI. Cybercriminals use AI for attacks such as phishing emails and injecting malware or deepfake images and videos. The company aims to find and remove such images while analyzing how this online behavior contributes to future attacks. This advanced technology will revolutionize security operations and enable more precise and accurate responses to cyber attacks. 

Protexxa is a B2B SaaS cybersecurity company connecting personal cyber health with business risk. The funding raised during the new round will also be used to develop advanced Gen AI and Artificial intelligence solutions and expand the team. The company intends to increase its performance in AI capability, and it is already working on expanding into the US market. The company wants to make its solutions stronger and reach more people globally. The startup faces competition from other cybersecurity companies such as Tenable, GardaWorld, and AttackIQ. This development came just after cyber security startups started gaining an increased interest from investors in the global startup ecosystem. 

Conclusion

Proptexxa is a Canadian cyber security startup that secured $10 million in its series A funding round from its family office. The company offers an artificial intelligence-powered platform allowing organizations to respond to cyber risks. The application provides companies with solutions by identifying flaws and checking the cyber health of their systems. The startup intends to use this fresh capital to enhance its platform and develop its market presence. The investment will also be used for data science and engineering. The company aims to create strong artificial intelligence and cyber security solutions that allow businesses to work against cyber criminals.

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Athulya is a versatile individual with a strong command of Trending News and Startup News. Her ability to weave compelling Startup Stories, deliver well-researched Listings, and interpret practical Case Studies empowers businesses and startups to thrive in a competitive environment.

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Following this, the stock increased by 10 percent and reached the upper band at Rs 2,411. The company provides different services, including mapping devices, government digitization, telematics, and automotive navigation. The startup is predicted to have an EBITDA margin of 41 percent range, and its revenue is expected to grow at a CAGR of 30 percent in the next six years. This geo tech startup focuses on developing technologies, including maps, navigation, tracking, IoT, and GPS. The shares of MapmyIndia’s parent company, C.E. Info Systems, were listed with a premium of 53 percent at BSE for Rs 1,581 each share, while the issue price stood out at Rs 1,033.  

The company offers options, including advanced map data, software products, platform-as-a-service,  and various IoT solutions to help tech-focused companies. MapMYIndia reported that it saw a 49  percent increase in its Consumer technology & enterprise digital transformation to Rs 194 crore in  FY24. The startup also has a 23 percent increase to Rs 186 crore in its Automotive & Mobility technology revenue in the same duration. The startup recently discussed with its investors the expansion of its services and platform globally. The CEO of MaymyIndia, Rohan Verman, mentioned that the company aims to expand its platform in South East Asia and the Middle East & North Africa.  

The Geotech startup provides location-based solutions, products, and services built on India’s maps.  The company brings deep tech into maps with 4D time and space maps with the most updated and extensive coverages. The firm uses advanced map SDKs, which are easy to embed on the website and mobile applications across various platforms. The company also develops vehicles with cutting-edge technologies and enhanced CX using India’s best maps and automotive technologies. The overall revenue from the operation has a 35 percent YoY increase at Rs 379.4 crore. MapmyIndia faces competition from other geo-tech companies, including Airio, Avantech, Mapbar, and Evatro. 

Conclusion

MapmyIndia’s shares increased by 10% following the recent announcement in the Union Budget FY25  regarding the digitization of land records in urban areas using GPS mapping. The shares of C.E. Info  Systems increased to Rs 2,488 during intraday trading on the BSE, up from an opening price of Rs  2,411.95. This marked a 6.6% increase from the last closing price, reaching the upper band at Rs 2,411.  MapMyIndia offers mapping devices, government digitization, telematics, and automotive navigation services. The startup utilizes advanced technologies and develops location-based maps, navigation,  tracking, IoT, and GPS. The company expects its revenue to grow at a CAGR of 30% by 2027.

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The government takes the initiative to promote farmer-producer organizations and startups for the vegetable supply chain. These SMEs compete in the agriculture landscape at low commissions, and through this scheme, the government will promote these startups and offer them strong connections,  storage, and marketing.

These startups will be provided with digital public infrastructure for agriculture.  Nirmala Sitharaman mentioned that the DPI for the agriculture sector will be out after a year-long pilot. The government will take a crop survey using this digital public infrastructure in 400 districts across India for the ongoing Kharif season. The plan is to collect the details of 6 crore farmers and their land parcels through DPI. The farmers will then be bought under the ambit of the farm and land registry. 

This digital public infrastructure will also provide Kishan credit cards to farmers. The government previously launched a pilot of agricultural DPI to digitize the area enumeration of crops at the field level. Inc42 reported. The self-sufficiency of pulses and oilseeds can only be achieved when the government strengthens its production, marketing, and storage services. The budget will mainly be used to develop a large-scale cluster for vegetable production closer to major consumption centers. The network will help promote cooperatives, startups, and farmer-led small organizations. 

The government has launched various programs to help the Indian startup ecosystem grow.  Recently, All India Financial institution NABARD also launched Rs 750 crore agri funds to offer mentorship and funding to small enterprises and startups in agriculture. The fund was to enhance the agri-produce value chains by creating new rural ecosystem linkages & infrastructure.  Earlier this year, the Indian government also announced its plans to launch a new scheme to help  MSMEs join ONDC. The Indian agritech sector is already experiencing a boom, with a huge interest from investors. 

Conclusion

The Indian government’s allocation of Rs 1.52 lakh crore in the Union budget for 2024-25 is an initiative towards enhancing the vegetable supply chain. The government plans to help and promote farmer-producer organizations and startups by providing them with solid connections, storage, marketing, and digital public infrastructure; the government aims to create a robust support system for vegetable supply chain startups. This digital public infrastructure will be fully operational after a year-long pilot. It will also conduct crop surveys across 400 districts, integrating six crore farmers into the farm and land registry. Additionally, Kishan credit cards will be provided to farmers through this system.

athulya V

Athulya is a versatile individual with a strong command of Trending News and Startup News. Her ability to weave compelling Startup Stories, deliver well-researched Listings, and interpret practical Case Studies empowers businesses and startups to thrive in a competitive environment.

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