Bluestone's High Ambitions, Navi's Securitization Deal, ChargeZone's New Digital Platform

Bluestone is setting its sights on a substantial INR 2,100 Cr IPO by Q2 2025, while Navi secures a $24.5 Mn loan securitization deal with Goldman Sachs to strengthen its financial footing. ChargeZone introduces a digital platform to enhance battery management, complementing IBM's acquisition of Prescinto to bolster renewable energy initiatives.

In leadership moves, ACKO promotes Sandip Goenka to CEO of its life insurance division, whereas Ola's Krutrim faces a shakeup with the resignation of Business Head Ravi Jain. Meanwhile, Delhi Police and Binance team up to tackle a renewable energy scam, OYO aims for $200 Mn in funding for its US expansion, and Nitro collaborates with Disney+ Hotstar to roll out AI advertising solutions.

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

What Matters

“Hum Saath Saath Hai”: Delhi Police, Binance Join Hands To Bust Renewable Energy Scam

Delhi Police and Binance have teamed up to crack down on a renewable energy scam run by "M/s Goldcoat Solar."

The fraudulent scheme falsely claimed to be part of India's renewable energy growth, duping investors in the process. With Binance's crypto expertise, authorities are now working to unravel the scam’s intricate financial web.

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“Hum Honge Kamiyab”: Bluestone Eyeing INR 2,100 Cr IPO By Q2 2025

Bluestone is preparing for an ambitious INR 2,100 Cr IPO, aiming for a $1.5 Bn valuation by Q2 2025.

The jewellery startup has brought on major players like Axis Capital and IIFL Securities to guide the process. This move follows a substantial INR 900 Cr pre-IPO round, edging Bluestone closer to unicorn status amidst a fluctuating market.

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“Janhit Mein Jaari”: Navi Closes $24.5 Mn Loan Securitization Deal With Goldman Sachs

Navi has secured a $24.5 Mn loan securitization deal with Goldman Sachs, backed by a pool of unsecured personal loans from its fintech arm, Navi Finserv.

This follows a similar $38 Mn deal with JP Morgan in July, signaling Navi's growing influence in the financial sector. With a consolidated operating revenue of INR 1,906.2 Cr in FY24, the fintech unicorn is continuing to make waves in the lending space.

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“Waah, Kya Scene Hai”: ChargeZone Unveils Digital Platform To Streamline Battery Management

ChargeZone has launched its Battery Passport System, a digital platform designed to track battery life cycles and optimize their value.

With real-time monitoring, the platform aims to boost battery repurposing and recycling efforts, aligning with sustainability goals. Founded in 2018, ChargeZone continues to drive innovation in EV charging networks for electric vehicles, from cars to trucks.

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“Hukumat Ki Jung”: IBM Buys Prescinto To Expand Its Renewable Energy Efforts

IBM has acquired Prescinto, a renewable energy tech startup, marking its fourth Indian acquisition.

Prescinto’s AI-powered platform offers advanced monitoring and automation to manage clean energy operations, boosting IBM's renewable energy portfolio. This move strengthens IBM's commitment to sustainability, expanding its influence in the clean energy sector.

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“Badhai Ho Badhai”: ACKO Elevates Sandip Goenka As CEO Of Its Life Insurance Business

ACKO has promoted Sandip Goenka from CFO to CEO of its life insurance division, tasking him with spearheading business strategy and operational efficiency.

With experience from Exide Life and Tata AIA, Goenka is well-equipped to lead ACKO Life towards growth. His appointment marks a pivotal shift as ACKO strengthens its presence in the insurance market.

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“My Time Has Come”: Ola Krutrim Business Head Ravi Jain Resigns

Ravi Jain, Business Head of Ola's AI chip venture Krutrim, has resigned, marking a notable shift for India’s first AI unicorn.

Krutrim, which plans to launch its first homegrown chip by 2026, was aiming to revolutionize AI and edge computing under Jain's leadership. His departure comes as the startup continues its ambitious journey, following a $50 Mn funding round earlier this year.

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“Thode Paise Ki Zarurat Hai”: OYO Eyes $200 Mn Funding To Power Its US Expansion Strategy

OYO is in talks to raise $200 Mn as it gears up for an aggressive US expansion strategy, aiming for a valuation of $4.5-5 Bn.

Alongside this, the SoftBank-backed company plans to refinance $450 Mn of its existing debt. This funding push follows OYO's $175 Mn down round in August, as the hospitality giant works to bolster its global footprint.

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“Janmo Ke Saathi”: Nitro Partners Disney+ Hotstar To Offer AI Advertising Solutions

Nitro Commerce has teamed up with Disney+ Hotstar to introduce an AI-powered advertising platform, designed to boost ecommerce and D2C brands.

This partnership follows Nitro's $1.8 Mn seed funding round earlier this year, positioning the startup to tackle customer acquisition challenges for online brands. By leveraging AI, Nitro aims to help businesses streamline their marketing strategies and drive revenue growth.

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1. Data Science Wizards has secured funding from undisclosed investors to enhance its deeptech AI venture, UnifyAI, and launch a new solution called insurAInce. This initiative aims to empower enterprises by helping them build and orchestrate AI-enabled use cases effectively.

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2. Snack brand Troo Good has raised $9 million in a funding round led by Puro Wellness, aiming to enhance its infrastructure and distribution for millet-based snacks in India. This investment will support product development and brings Troo Good's total funding to INR 130 Cr, reinforcing its commitment to healthy snacking.

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3. Traqo.io, a no-code logistics management platform, has secured pre-seed funding led by We Founder Circle to scale its AI and technology teams. The investment aims to enhance its offerings, meeting the rising demand for efficient logistics solutions.

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4. D2C footwear brand Yoho has raised Rs 27 Cr in its pre-Series B round, bringing its total funding to over Rs 47 Cr (around $5.6 million). The Delhi-based startup plans to use the funds to drive growth and innovation, with a focus on research and development.

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