AI-Powered Amitabh Bachchan, Paytm’s Shares Soar, and Myntra Turns Profitable

MapmyIndia has reversed its decision on spinning off its B2C business, causing a rally in its shares, while PB Fintech hits a fresh all-time high at INR 2,208. Paytm’s shares also spiked after its Singapore arm offloaded its stake in PayPay. Meanwhile, Perfios has posted an impressive 819% profit surge, and Myntra celebrates profitability in FY24. Amazon India’s reshuffling continues with the resignation of its Consumer Electronics Head, Ranjit Babu, and IDFC FIRST Bank makes headlines by unveiling an AI-powered Amitabh Bachchan avatar.

Grab your simmering cup of StartupChai.in and unwind with our hand-brewed memes.

“Saara Zamana Big B Ka Deewana”: IDFC FIRST Bank introduces AI-powered avatar of Amitabh Bachchan

IDFC FIRST Bank has rolled out a cutting-edge AI-powered holographic avatar of Amitabh Bachchan, marking a first for Indian banking.

The legendary actor's virtual presence will guide customers at branches, blending innovation with star power. It’s a futuristic leap that reimagines customer interaction with a touch of Bollywood charisma.

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“Mai Chali, Mai Chali”: Amazon India’s Consumer Electronics Head Ranjit Babu Resigns

Amid ongoing restructuring, Amazon India’s consumer electronics head, Ranjit Babu, has reportedly stepped down, marking another high-profile exit.

Previously at the helm of Cloudtail India, Babu’s resignation follows closely on the heels of India operations head Manish Tiwary’s departure. As Amazon reshapes its leadership, the changes signal shifting priorities in the ecommerce giant’s strategy.

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“Ye Kya Ho Gaya Prabhu”: MapmyIndia Takes U-Turn On B2C Hive-Off, Shares Rally

MapmyIndia’s plans to hive off its B2C business have hit a roadblock, following investor pushback against the move.

The company has now reversed course, deciding against any equity or debt investment in the proposed spin-off, which was to be helmed by outgoing CEO Rohan Verma. Investors seemed to breathe a sigh of relief, as the stock rallied post-announcement.

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“Mauja Hi Mauja”: PB Fintech Shares Rally 3% To Hit Fresh All-Time High At INR 2,208

PB Fintech, the parent of Policybazaar, soared to a new all-time high of INR 2,208 on the BSE today, marking its fourth consecutive day of gains.

The rally, however, lost steam as the day progressed, with shares dipping 0.22% to INR 2,139 by late afternoon. The stock's rollercoaster ride kept investors on edge, reflecting the market's fickle sentiment.

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“Hum Nahi Hai Kissise Kam”: Paytm Shares Hit New 52-Week High After Singapore Arm Offloads Stake In PayPay

Paytm shares surged past INR 1,007 on the BSE, hitting a 52-week high after its Singapore arm divested its stake in PayPay.

The over 3% intraday rally signaled strong market optimism around the fintech giant’s strategic move. As Paytm fine-tunes its global footprint, investors seem ready to back its growth story.

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“Kya Se Kya Ho Gaya”: Perfios FY24 As Profit Jumps 819% To INR 71.7 Cr

Perfios has reported a staggering 819% jump in profit for FY24, reaching INR 71.7 Cr, while revenue surged 37.1% to INR 557.8 Cr.

The fintech unicorn, known for its cutting-edge credit decisioning and analytics solutions, is clearly riding a growth wave. Having joined the unicorn club earlier this year, Perfios seems to be cementing its place among India’s fintech elite.

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“Aaj Mai Upar, Aasman Neeche”: Flipkart-owned Myntra has achieved profitability in FY24, posting a profit after tax (PAT) of Rs 30.9 crore

Myntra has turned heads in FY24 with a profit of INR 30.9 crore, a striking turnaround from last year’s INR 782.4 crore loss.

The Flipkart-owned fashion platform credits its success to robust revenue growth and smart cost optimization. This profitability milestone cements Myntra’s position as a frontrunner in India’s e-commerce fashion race.

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1. Jaipur-based Wooden Street has raised INR 354 Cr in Series C funding led by Premji Invest to bolster its offline presence. The D2C furniture startup aims to expand stores across metro and non-metro cities while boosting manufacturing.

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2. EaseMyTrip shares rose 3.40% after the board approved raising INR 234.03 Cr through a preferential issue to seven investors, including Jacqueline Fernandez. The move reflects growing investor confidence in the travel platform's expansion plans.

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3. Google-backed spacetech startup Pixxel has secured an additional $24 million in its Series B round, with new investors M&G Catalyst and Glade Brook Capital Partners joining the ranks. The funding will fuel the company's ambitious space exploration and satellite imaging initiatives.

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4. NBFC Varthana has raised $15 million from BlueOrchard Microfinance Fund to expand its lending portfolio. The funds will support infrastructure upgrades and skill-based learning for private schools and vocational students in tier II and III cities.

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5. Eupheus Learning has raised an additional $3 million from Lightrock India, continuing its growth despite the ongoing EdTech funding winter. The latest round follows a $10 million raise in September 2021, bolstering its position as India’s largest school-focused distribution platform.

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6. SaveSage Club, a credit card and loyalty management platform, has raised Rs 2.5 crore in an angel round co-led by iSEED, Alluvium Fund, and LetsVenture Fund. The round saw participation from notable angel investors including Bhavesh Gupta, Shriram Nene, and Ritesh Malik.
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7. DCDC Health Services has raised nearly $10 million (Rs 82 crore) from British International Investment (BII) to expand its dialysis centers under the DCDC Kidney Care brand. The strategic investment will help strengthen its footprint in kidney care services across India.
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