Entrackr reported that the firm showed a solid financial record for the last fiscal year, with 34 percent YoY growth to Rs 7,096 crore. The company reported a 5-times increase in profit to Rs  182 crore in the same duration. The total operating revenue for this financial year is around Rs 2,077  crore for Q1. The Initial Public Offering for the startup was valued at Rs 2,616 crore, including the fresh amount of Rs 1,250 crore, and the rest was offered for sale. The company saw a 5.1 percent increase in its stock exchange to the price band of Rs 258 to 272 per share. Entrackr estimates the total market capitalization for the firm to stand at 3.86 billion USD. 

Go Digits offers an online insurance platform to provide the best customer experience. This startup provides different insurance products related to non-life products, including auto insurance, health insurance, and business products insurance. The company aims to make the insurance process simple and easily accessible to everyone. The startup has recorded over 43 million customers on its platform, claiming to have issued over 8 million policies. The claims paid by the insurance company take up to  64.48 percent of the total expenses. However, business development, employee benefits, business development, and marketing totaled Rs 1,993 crore in the same period. The total expenditure of the firm increased by 10 percent to Rs 1,285 crore for this quarter of FY25.  

The general insurance company focuses on improving its business model while offering innovative solutions. The startup reduced its losses by minimizing operating expenses and employee benefits. The company managed to control its costs by 9.3 percent QoQ, while the profit increased by  90% to Rs 101 crore in Q1 FY25. This Bengaluru-based startup faces competition from other companies, including cars24.com and insurance deskho. 

Conclusion

Go Digit announced a 90 percent increase in its profit to Rs 101 crore, and the operational revenue stands out at Rs 1,824 crore. This general insurance startup offers non-life products-related insurance policies, including car, health, and business product insurance. The startup recorded over 43 million customers on its platform, and it claims to have issued over 8 million insurance policies. The sales of these insurances are the company’s primary revenue source. The company reported a 10 percent decrease in its overall expenses to Rs 1,285 crore in the first quarter of this financial year.

Vaisakh V K

Vaisakh is a dynamic content writer and SEO Expert with a knack for decoding the latest trends in startups, business, and the economy. His storytelling approach transforms complex industry insights into engaging, easy-to-digest content. Passionate about exploring market shifts and entrepreneurial journeys, he crafts articles that inform, inspire, and spark curiosity among readers.

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The company plans to use these fresh proceeds to scale its production, enhance its platform, and support omnichannel expansion plans. The startup focuses on developing its offline presence with over 1,000 multi-brand outlets across India. Nashar Miles will open 3 to 5 brand outlets this financial year. The company’s post-money valuation was around $30 million.

The Mumbai-based startup also secured funds from five Shark Tank India Season 3 judges, valued at $23.8 million. The company intends to strengthen its quick-commerce presence and increase its product capability, with a target of around 75 percent domestic manufacturing this year. The founder of Nasher Miles mentioned that the company opted for a smaller round to create a bridge toward a series A  round. This will enable the startup to prepare for large-scale expansion while growing momentum. 

This luggage brand was founded by Shruti Kedia Dada, Abhishek Daga, and Lokesh Dada in 2017. The company provides a variety of bags like luggage sets, corporate backpacks, laptop roller cases, and outdoor travel bags. The accessories include neck pillows, masks, luggage covers, backpack rain protection covers, and other customized prints. The company claims to operate nationwide with 20  distributors. The firm has set up around 150 stores in just two and half month intervals. Nashar Miles expects its revenue stream to reach 12 million USD in the next fiscal year.  

The Mumbai-based startup offers excellent product design with quality and value, meeting customer and market demands. This D2C startup plans to increase its brand presence. Since its inception, the company has secured a total funding of $5.05 million across four rounds, including the $4 million secured during this bridge round. The startup aims to reach a revenue of $60 million by FY28. The luggage brand competes with other brands, including EUME, uppercase, assembly, and Arctic Fox. 

Conclusion

Internet-first D2C luggage startup Nasher Miles secured $4 million in its bridge round from several investors, including Singularity Early Opportunities Fund, CVC Capital Partner Mohit Goyal, Softbank Vision Fund, and Sulabh Arya of Goldman Sachs Growth Equity. The startup intends to use this fresh capital for market expansion of 1,000 multi-brand outlets across India. The brand aims to expand its omnichannel presence and establish 3 to 5 new outlets. The company also focuses on expanding its product range and enhancing its brand presence. The investment shows the investor’s trust in  Nasher Mile’s market potential and business model. The company is targeting a revenue of $60 million by FY28.

Vaisakh V K

Vaisakh is a dynamic content writer and SEO Expert with a knack for decoding the latest trends in startups, business, and the economy. His storytelling approach transforms complex industry insights into engaging, easy-to-digest content. Passionate about exploring market shifts and entrepreneurial journeys, he crafts articles that inform, inspire, and spark curiosity among readers.

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In a regulatory filing, the company mentioned that the board passed a resolution to add 22,00,000 employee stock options to its new and existing plans to reach the total employee stock option plan pool of 60,08,920 options. The fintech unicorn added around 11,00,000 new stock options to its existing Employee Stock Option Scheme 2022.

This makes the total number of options around 4,908,920. Yubi added 11,00,000 new stock options to its Employee Stock Option Plan (ESOP). The ESOP pool was expanded for its employees to attract new employees, hire new talents, and enhance productivity. A credible startup intelligence platform estimated the newly added employee stock options to be around $26 million, marking the total employee stock option plan at $70 million. 

Yubi provides an online platform to strengthen the debt market and transform the financial landscape while building a transparent and responsible ecosystem for everyone. The company has offered over Rs 1,40,000 crore in debt volumes to more than 17,000 enterprises and over 6200  investors and lenders. The firm reduces the collection costs by 57 percent. The startup turned Unicron in 2022 after securing $135 million during its series B funding round led by Dragoneer Investment  Group, Insight Partners, and B Capital Group. The company had a valuation of around 1.5 billion USD  after its secondary sale. The unicorn also invested Rs 150 crore during the debt funding round of  Infra. Market and Auxilo.  

The fintech unicorn reported a two-times increase in its revenue to Rs 328 crore in FY24. However, the losses also increased eight times to Rs 482 crore in the same duration. The board approved granting these stock options to those under the Yubi employee stock option scheme. Many startups announced their ESOP buyback programs to enhance their workforce and efficiency to employees, including Paytm, Delhivery, Nykaa, and Purple. The company plans to revolutionize the fintech sector. 

Conclusion

Yubi announced allocating its new fresh employee stock option Plan to its employees. These newly allocated stock options are worth around 26 million USD. The fintech unicorn offers an online marketplace to connect lenders with borrowers and provide them with financial solutions. The company filing mentioned that the board passed a resolution to allot 22,00,000 employee stock options to its new and existing plans. The startup claims to have provided around Rs 1,40,000 crore in debt volumes through its platform. Known investors back the company, including Peak XV, Lightspeed, TVS Capital, Dragoneer Investment Group, and Insight Partners.

Vaisakh V K

Vaisakh is a dynamic content writer and SEO Expert with a knack for decoding the latest trends in startups, business, and the economy. His storytelling approach transforms complex industry insights into engaging, easy-to-digest content. Passionate about exploring market shifts and entrepreneurial journeys, he crafts articles that inform, inspire, and spark curiosity among readers.

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The board has approved a resolution to allot 1226 equity shares at an issue price of Rs 2,60,799 each to raise around $3.85 million. According to the company filing, the startup will use these fresh proceeds for business growth, working capital purposes, and market expansion. The company specializes in offering advisory and investment management solutions to retail investors. The startup provides an assets management platform that uses cutting-edge technologies to offer its customers financial advisory and access to wealth management professionals. The startup data intelligence platform, the credible, estimated the post-money valuation of the startup to be around $162.5 million. The application aims to offer clients unbiased investment solutions with a transparent and cost-efficient approach. 

The startup claims to have more than Rs 25,000 crore in Assets Under Advice, including Rs 3000 crore in assets under management. After this round, Morde Foods holds the most significant stake in the firm at 1.48 percent, followed by SN Damani Developers at 0.74 percent, and Bridgemonte advisors account for the 0.15 percent capital in Neo Wealth. The company has secured around $78 million since its inception, including the $35 million raised in its series B funding round from Peak XV partners last year.  Neo faces competition from other wealth-based companies such as Navi, FundsIndia, Assetplus,  Wealthy, and more. 

The Mumbai startup distributes non-broking services, such as Mutual funds, that provide financial solutions to develop highly engaging and consultative processes. The company announced that it saw a nine-time increase in its revenue to Rs 65.1 Crore in FY23. However, the loss was around  Rs 3.6 crore in the same duration. The startup will use some of this investment to strengthen its platform, make transactions more secure, and expand its services. The online platform enables its users to select top funds based on their investment requirements. The startup offers a customized mutual fund portfolio meeting the risk profile and future goals.  

Conclusion

Neo is a Mumbai-based startup offering a wealth and asset management platform for financial advisory. The startup secured a fresh capital of $4 million from private placement. The credible mentioned that the post-money allotment valuation of the company is around $162.5 million. After this round, the existing investor, Mored Foods, holds the most significant stake with 1.48 percent. The startup claims to offer assets management and investment advice to its clients. The startup aims to solidify its position amid competition in the fintech sector. The board issued 1226 equity shares for an issue price of Rs 2,60,799 per share to raise $3.85 million. 

Vaisakh V K

Vaisakh is a dynamic content writer and SEO Expert with a knack for decoding the latest trends in startups, business, and the economy. His storytelling approach transforms complex industry insights into engaging, easy-to-digest content. Passionate about exploring market shifts and entrepreneurial journeys, he crafts articles that inform, inspire, and spark curiosity among readers.

www.scoopearth.com/

We are discussing Angel Tax abolition a big boost for the Indian startup ecosystem:

Understanding the Angel Tax

The angel tax made effective from the fiscal year 2012 under section 56(2)(vii b) of the Income Tax Act, was initially aimed at combating abuse through money laundering and round-tripping. It applied where the shares of the companies being formed were issued at a price higher than their fair value, especially in closely held companies such as start-ups. The extra amount was considered income from other sources and was taxed at about 30%. Originally introduced to discourage the undue flow of funds to illegitimate operations, the tax often posed a significant challenge to startups eager to attract early-stage funding. 

Impact of Abolition

The government has made it easier for financiers to invest in startups by doing away with the tax. This is so especially when the startup community is coming from a period when funding has declined to a five-year low in 2023. Firms that can raise funds can now do so at higher figures without necessarily attracting charges on their taxes. This will make it easy for them to raise the required funds required for the expansion and diversification of their operations.

The abolition of the angel tax improves business conditions and helps startups receive investments more easily. This is in line with the Indian government’s overall vision to make the country a better place to conduct business. The abolition is expected to increase the phenomenon of reverse flipping, whereby Indian startups that had relocated their domicile outside India return home. This will help retain the brains and capital within the country. 

Impact on the early-stage startups

A significant amount of funding for early-stage startups frequently comes from angel investors. Since the angel tax has been abolished, investors will be willing to invest in these startups rather than being taxed. This will result in increased capital availability and start-ups’ ability to source funds to finance their expansion and development.

Startups can now solicit funds at a higher price without worrying about being taxed on the extra amount garnered. This will enable them to source more funding and be in a position to deliver better returns to their investors, making them compete well in the market. The bill has streamlined the regulatory processes by removing the angel tax. This saves time and money since startups do not need to employ professionals to navigate the tax systems, and it enables focus on core operations. 

Government Initiatives 

The removal of the angel tax is one of the several steps being taken to promote the startup culture in India. Under the Startup India scheme, the government has further expanded the qualification of the eligible startup to an entity that has been incorporated between 01.04.2016 and 31.03.2025. This extension enabled more states to enjoy tax exemptions and other privileges. However, to overcome this challenge, the government has also launched the Fund of Funds for Startups (FFS) scheme, Startup India Seed Fund Scheme (SISFS), and Credit Guarantee Scheme for Startups (CGSS) for capital at various stages of the business life cycle. 

Angel Tax abolition a big boost for the Indian startup ecosystem

The Union Budget 2024-25, presented by Finance Minister Nirmala Sitharaman, lifted the angel tax for all classes of investors. This decision is expected to help significantly the struggling Indian startup ecosystem, which has been struggling with a funding decline and numerous regulatory issues. 

Understanding the Angel Tax

The angel tax,, made effective from the fiscal year 2012 under section 56(2)(vii b) of the Income Tax Act, was initially aimed at combating abuse through money laundering and round-tripping. It applied where the shares of the companies being formed were issued at a price higher than their fair value, especially in closely held companies such as start-ups. The extra amount was considered income from other sources and was taxed at about 30%. Originally introduced to discourage the undue flow of funds to illegitimate operations, the tax often posed a significant challenge for startups eager to attract early-stage funding. 

Impact of Abolition

The government has made it easier for financiers to invest in startups by doing away with the tax. This is so,, especially when the startup community is coming from a period when funding has declined to a five-year low in 2023. Firms that can raise funds can now do so at higher figures without necessarily attracting charges on their taxes. This will make it easy for them to raise the required funds required for the expansion and diversification of their operations.

The abolition of the angel tax improves business conditions and helps startups receive investments more efficiently. This aligns with the Indian government’s overall vision to make the country a better place to conduct business. The abolition is expected to increase the phenomenon of reverse flipping, whereby Indian startups that had relocated their domicile outside India return home. This will help retain the brains and capital within the country. 

Impact on the early-stage startups

A significant amount of funding for early-stage startups frequently comes from angel investors. Since the angel tax has been abolished, investors will be willing to invest in these startups rather than being taxed. This will increase capital availability and start-ups’ ability to source funds to finance their expansion and development. Startups can now solicit funds at a higher price without worrying about being taxed on the extra amount garnered.

This will enable them to source more funding and deliver better returns to their investors, making them competitive in the market. The bill has streamlined the regulatory processes by removing the angel tax. This saves time and money since startups do not need to employ professionals to navigate the tax systems, and it enables focus on core operations. 

Government Initiatives 

The removal of the angel tax is one of the several steps being taken to promote the startup culture in India. Under the Startup India scheme, the government has further expanded the qualification of the eligible startup to an entity that has been incorporated between 01.04.2016 to 31.03.2025. This extension enabled more states to enjoy tax exemptions and other privileges. However, to overcome this challenge, the government has also launched the Fund of Funds for Startups (FFS) scheme, Startup India Seed Fund Scheme (SISFS), and Credit Guarantee Scheme for Startups (CGSS) for capital at various stages of the business life cycle. 

Conclusion

The abolishment of the angel tax has been a positive change for the Indian startup company environment. By targeting a big issue of startups and investors, the government has effectively created a friendly environment for innovations and investments. The government plans to do this to attract more investment, achieve higher valuations, and have less complex rules that lead to the growth and success of Indian startups. 

Vaisakh V K

Vaisakh is a dynamic content writer and SEO Expert with a knack for decoding the latest trends in startups, business, and the economy. His storytelling approach transforms complex industry insights into engaging, easy-to-digest content. Passionate about exploring market shifts and entrepreneurial journeys, he crafts articles that inform, inspire, and spark curiosity among readers.

www.scoopearth.com/

The company mentioned in its exchange filing that the board members of Nykaa allowed the allocation of up to 12,5000 non-convertible debentures at a specific issue price of Rs 1 lakh each to raise $15  million. According to the company filing, the startup will use these fresh proceeds to expand its services, meet working capital purposes, and develop brand presence. The startup specializes in selling beauty and cosmetics products through its online platforms. Nykaa is wholly owned by FSN e-commerce ventures that provide wellness and beauty products. The company recently expanded its  Employee Stock Option Plan by offering 4.73 lakh newly allocated equity shares worth Rs 9.72 crore.  

The development came just after Nessa International Holdings collaborated with Qatar-Nysaa cosmetic trade. Nysaa is a joint venture between Nykaa and Apparel Group. Nykaa owns 55 percent of the total stake, while Apparel Group owns 45 percent in Nysaa. Inc42 reported that the e-commerce startup previously mentioned Nysaa cosmetics plans to engage in international exports and trades or sales of personal care and beauty products through online and offline activities. The startup also announced its plans to develop new business verticals as the board approved the acquisition of  Nykaa Fashion in a cash deal of Rs 133.7 crore.  

FSN e-commerce expects a strong revenue growth of around 23 percent YoY in its first quarter of FY25.  Nykaa is also expecting a GMV growth of 40 percent CAGR and a three-fold increase in net sale values in the next four years. The beauty and fashion brand aims to revolutionize the BPC sector by offering a place to access authentic and finely created products and services. The startup provides scientifically tested, high-quality, and expert-formulated products. The company faces competition from other beauty and personal care brands, including Purplle, Myntra, Mamaearth, jiomart, and more. 

Conclusion

D2C beauty and personal care startup Nykaa plans to raise Rs 125 crore in its debt funding round from  FPI. The startup plans to increase this funding amount through its non-convertible debentures. The company plans to use this fund to scale up operations and enhance its platform for a better user experience. The company plans to use some of this investment to meet general corporate purposes while aiming for market expansion in the BPC segment. The startup claims to provide wellness, beauty,  and personal care products through its website and mobile application. The development came just when the beauty and personal care e-commerce sector had an increase in investor’s interest.

Vaisakh V K

Vaisakh is a dynamic content writer and SEO Expert with a knack for decoding the latest trends in startups, business, and the economy. His storytelling approach transforms complex industry insights into engaging, easy-to-digest content. Passionate about exploring market shifts and entrepreneurial journeys, he crafts articles that inform, inspire, and spark curiosity among readers.

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Structural Reforms and Digital Transformation

During the past ten years, India has undertaken several structural changes meant to improve the efficiency and production capacity of the economy. Some of these structural reforms are The Goods and Services Tax (GST), the Insolvency and Bankruptcy Code (IBC), and other initiatives toward enhancing the ease of doing business. One of the most important sources of growth has been the growing adoption of digital technologies across industries. Policies such as Digital India and adopting technologies like digital money have improved effectiveness in trade practices.

Infrastructure Development and Private Sector Participation

The government has in the recent past emphasized on construction of highways, railways, and other urban infrastructure hence a favorable environment for economic growth has been fostered. The National Infrastructure Pipeline (NIP) targets infrastructure spending beyond INR 100 lakh crore by 2025. According to the Economic Survey report, the private sector significantly contributes to economic growth. To boost private investment, the government has initiated several policies like Production Linked Incentive (PLI) schemes and opening up norms for FDI. 

Challenges and Mitigation Strategies

It is also important to note that the Economic Survey listed several risks that may hinder the economy’s performance in the future. These are factors such as global economic volatilities, inflation, and supply chain disruptions. This involves fiscal and monetary discipline to ensure macroeconomic stability. The government also seeks to contain inflation rates and stabilize the exchange rate to create a favorable environment for growth.

Developing skills and qualifications for the workforce through investment in education is crucial for preparing employees to be productive in a competitive economy. Some steps taken are the Skill India program and the National Education Policy (NEP) 2020. Appreciation of innovation and research and development is crucial for realizing sustainable growth. Thus, the government intends to increase the investment in R&D and build an environment supporting innovation. Farming is still an essential part of India’s economy. Improving agriculture’s efficiency, adopting new farming techniques, improving irrigation facilities, and improving farm credit can go a long way in increasing rural income and the economic growth rate.

Importance of Tripartite Compact

The Economic Survey emphasizes that the projected growth rate would require a social contract involving the Union Government, State Governments, and the private sector. This makes coordination crucial in executing reforms and guaranteeing that the fruits of reform are felt throughout society. The central government’s policy responsibility includes policy-making, financial support, and macroeconomic policy management. 

Schemes like the Atmanirbhar Bharat Abhiyan are intended to help transform India into a less dependent economy and increase the domestic manufacturing output. Most of the policies implemented at the grassroots level involve the collaboration of state governments. They are tasked with facilitating business, enhancing physical development, and proper leadership. In general, involving the private sector as a vital source of investment, innovation, and employment generation is crucial. The government’s priorities in ease of doing business and regulatory and institutional reforms are to foster an environment that supports private sector development.

Conclusion

The increasing growth rate of 7%, as pointed out in the Economic Survey, indicates India’s bounce back and possible revolution. Such an enhanced growth rate is well within India’s reach as it now builds on the structural reforms of the past decade and brings together the government and the private sector for this purpose. 

Vaisakh V K

Vaisakh is a dynamic content writer and SEO Expert with a knack for decoding the latest trends in startups, business, and the economy. His storytelling approach transforms complex industry insights into engaging, easy-to-digest content. Passionate about exploring market shifts and entrepreneurial journeys, he crafts articles that inform, inspire, and spark curiosity among readers.

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The startup secured $125,000 in its pre-seed funding round from its existing investors.  Founded by Vishal Chopra, this startup provides employee experience solutions that are different from traditional HR approaches. The company aims to help other organizations improve their engagement, Employee Response Rates, and Employee Net Promoter scores. This enables an organization to get a more engaged and efficient workforce. The platform offered by this Faridabad startup utilizes behavioral science and advanced analytics to help HR leaders and CEOs analyze, listen, and provide employee feedback in real-time. This HR technology platform uses indicators like mood, risk of attrition, and engagement to offer solutions and address issues before they become big.  

Umwelt.AI has worked with known companies in the industry, such as Quess Corp, Jack & Jones, Vero  Moda, Allsec BPO, and Foundit. The firm uses its predictive analysis to reduce the early risk rates, leading to cost savings. The platform allows any organization to improve its talent retention and workforce efficiency. The application offers AI-powered solutions to the organization for better business results. The startup has combined cutting-edge technology with humanized interactions and human science to provide result-driven solutions. The company has developed a virtual engagement assistant, Nikki, that listens, analyzes, and enables HR leaders to act on employee feedback in real-time using machine learning, artificial intelligence, and Natural Processing Language.  

The HR tech company provides a personalized assistant configurable by organizations to deliver a customized user experience to employees in line with their culture. The platform claims to have collected over 500k feedback. The application is easy to integrate with existing HR systems like Oracle and SAP. It can also be integrated seamlessly with communication channels such as SMS, WhatsApp,  and E-mail in less than a day. The company faces competition from other HR tech companies such as  Infeedo, Amara.ai, Leena.AI, and more. 

Conclusion

Umwelt AI is an HR tech startup that secured $ 125k in its seed funding round led by Upekkha AI SaaS accelerator. The funding round had the participation of various new and existing investors. The company intends to use this fresh capital to develop innovative solutions for organizations across different sectors, expand its market presence, and enhance its platform. The Faridabad startup offers employee experience solutions to help organizations boost their  engagement and get better ROI. The online platform uses advanced technologies, predictive analysis,  and behavioral science to provide the best solutions. The predictive analysis helps organizations to reduce cost savings and early-risk rates.

Vaisakh V K

Vaisakh is a dynamic content writer and SEO Expert with a knack for decoding the latest trends in startups, business, and the economy. His storytelling approach transforms complex industry insights into engaging, easy-to-digest content. Passionate about exploring market shifts and entrepreneurial journeys, he crafts articles that inform, inspire, and spark curiosity among readers.

www.scoopearth.com/

The company got around 60 percent of this funding from new debt investors, making its total debt reach Rs 1,570 crore in June. The startup has secured over Rs 100 crore through its right issue with the participation of all existing investors. BlackSoil is a non-banking finance company that provides personalized loaning options and solutions to different financial institutions, emerging corporates,  small businesses, and MSMEs across various sectors.

The startup is well-positioned in the lending sector for new economy businesses. Its cash-flow-focused underwriting approach is sector-agnostic. The platform facilitates loaning transactions between borrowers and NBFCs or banks to provide loans and other financial requirements. The startup offers debt to scale businesses and companies that cannot take debt from other financial institutions and banks.  

This lending startup has around five unicorns, including Upstox, Spinny, and  Mobikwik. The company offers debt in different sectors such as agritech, B2B, fintech, healthcare,  consumers, SaaS, and IoT. The firm has expanded its services to emerging sectors such as EV,  online travel aggregators, and quick commerce. The Indian startup ecosystem is experiencing increased new businesses and technical advancements. Among this competition, many high-growth startups face challenges securing debt from traditional banks due to their high-risk nature. Blacksoil provides debt to these high-performing startups and helps them scale their business while solidifying their position in the market. 

The Mumbai-based startup announced a 30 percent YoY growth in its debt funding for this year. The company offers a network of nine banks and over five non-banking financial companies with more than 250 HNI families. The supply chain fintech platform SaralSCF plays a critical role in supply chain financing by providing a seamless digital experience with timely and efficient financial solutions and a user-friendly interface. Blacksoil faces competition from other lending companies, including  InnoVen Capital, Vivirti Asset Management, and more. 

Conclusion

Blacksoil NBFC is a subsidiary under Blacksoil Group that secured R 200 crore in its debt funding round with the participation of its family offices, HNIs, UHNIs, financial institutions, banks, and other NBFCs.  This investment shows the trust of investors in Blacksoil’s business model. The startup plans to use these fresh proceeds to enhance its platform, expand its lender network, and improve its borrowing capabilities. The company offers an online platform that allows borrowers to connect with various  NBFCs. The startup provides debt to those companies that face challenges in securing debt from traditional banks due to their high-risk nature. Blacksoil currently operates nine banks and five NBFCs with over 250 HNIs.

Vaisakh V K

Vaisakh is a dynamic content writer and SEO Expert with a knack for decoding the latest trends in startups, business, and the economy. His storytelling approach transforms complex industry insights into engaging, easy-to-digest content. Passionate about exploring market shifts and entrepreneurial journeys, he crafts articles that inform, inspire, and spark curiosity among readers.

www.scoopearth.com/

Honestly, it allows users to share their reviews among themselves. The company will focus on the B2B  revenue model to enable other brands to use the driven platform and APIs in their product pages. The company aims to expand its network and reach around 1 million users across India in the next few years. The artificial intelligence will analyze the product’s ingredients and help users understand how their skin will react to the products. This technique will allow the users to find the products that might fit into their routines. The company plans to use this investment to solidify its position in the market. 

The co-founder of Honeslty, Vivek Madani, told ET that after the company proves its B2C user application, it will have enough proprietary data to offer APIs for e-commerce platforms and integrate them into their platforms. The startup plans to explore India and expand into the international market, including the UAE and the UK. This investment will help the firm build a strong marketing and engineering workforce in the next few months. The Better Capital mentioned that on platforms like Reddit, we can see how broken skin care is today, and consumers are looking for products that go well with their skin types.  

The company offers several skincare and beauty products, including toners, cleansers, moisturizing creams, and lotions. The skin care startup aims to help its customers achieve problem-free skin tones.  The company claims to use safe, nourishing natural ingredients in its products. The products offered by the firm are scientifically tested and expert-formulated. The brand also provides customized skincare routines for its customers according to their skin types. The investment will help the company strengthen its product services through its integrated services. 

Conclusion

Honeslty is an AI-powered startup that sells skincare and beauty products and secured Rs 3.2 crore in its seed funding round. Better Capital led the round, which also included QED Innovations and senior leaders from Polygon, CRED, and Flipkart. The company intends to use these fresh proceeds to scale up its operations, expand its network, launch its initial product, meet market demands, and enhance its platform for a better user experience.

The company offers online platforms, including websites allowing users to share product reviews. The company provides clinically tested skincare products based on different skin types. The categories offered by the company include cleanser, lotion, face serum, and moisturizer. The company faces competition from other skincare and beauty brands such as MamaEarth, Zulily, and Hello Bello.

Vaisakh V K

Vaisakh is a dynamic content writer and SEO Expert with a knack for decoding the latest trends in startups, business, and the economy. His storytelling approach transforms complex industry insights into engaging, easy-to-digest content. Passionate about exploring market shifts and entrepreneurial journeys, he crafts articles that inform, inspire, and spark curiosity among readers.

www.scoopearth.com/