Celebrity Endorsements, Banking Breakthroughs, Acquisition Sprees And More

QUE dazzles with Shikhar Dhawan's investment, ICICI Bank opens doors for NRIs, while Adda247 appoints Bimaljeet Singh to lead educational expansion. Meanwhile, KKR's acquisition spree continues, Paytm sweetens employee incentives, and RBI's crackdown rattles Kotak's profit projections for FY25.

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

What Matters

“Gabbar Is Back”: Eyewear Startup QUE Ropes In Shikhar Dhawan As Investor

Cricketing sensation Shikhar Dhawan steps into the world of eyewear as an investor for QUE, the brainchild of Shashank Saurabh, Abhishek Deep, and Kumar Vagish.

QUE gears up for its debut, aligning with the startup's vision of bringing premium sunglasses to the masses across India and beyond, aiming to democratize style and quality.

Read more here

“Ye Hai Tere Karam, Kabhi Khushi, Kabhi Gham”: ICICI Bank Allows UPI For NRIs With Non-Indian Mobile Numbers

ICICI Bank breaks barriers by enabling NRIs to seamlessly utilize UPI with their non-Indian mobile numbers, marking a significant stride in digital banking accessibility.

This initiative, announced recently, is poised to revolutionize everyday transactions for NRIs, promising greater convenience and ease in managing finances across borders.

Read more here

“Swag Se Karenge Sabka Swagat”: Adda247 Hires Former NIIT Exec Bimaljeet Singh As CEO To Scale Up Higher Education Business

Adda247 welcomes Bimaljeet Singh, former NIIT executive, as its new CEO, spearheading the edtech platform's foray into skilling, upskilling, and higher education sectors.

With Singh's extensive experience at NIIT and Adda247's existing robust offerings in competitive exam preparation, the partnership aims to revolutionize learning opportunities for millions across India.

Read more here

“Korbo Lorbo Jeetbo”: KKR To Buy India’s Medical Devices Firm Healthium Medtech From Apax Partners

In a strategic move, global investment giant KKR ventures into India's healthcare landscape with the acquisition of Healthium Medtech from Apax Partners for a whopping $830 million.

This significant deal underscores KKR's confidence in India's burgeoning medical devices sector and marks a notable milestone in the company's investment portfolio, poised to shape the future of healthcare innovation in the region.

Read more here

“Subah ka bhula sham ko ghar aaye”: Paytm Expands ESOP Pool With Additional 87K Stock Options

In a bid to retain talent and drive employee engagement, Paytm boosts its ESOP pool with an additional 87K stock option, priced at INR 9 per share, offering a premium of INR 8 apiece.

Amidst this expansion, the company bids farewell to its president and COO Bhavesh Gupta, who resigned citing personal reasons, as Paytm's shares closed marginally lower on the BSE, reflecting market sentiment amidst these developments.

Read more here

“Chunotiyo Se Ladaai”: RBI’s Digital Lending Crackdown To Dent Kotak’s FY25 Profit By Up To INR 450 Cr

Kotak Mahindra Bank braces for potential profit denting of up to INR 450 Cr in FY25 due to RBI's digital lending crackdown, CEO Vaswani reassures stakeholders of minimal financial impact.

Shifting gears, the bank pivots its strategy towards nurturing existing customer relationships through cross-selling, following RBI's recent directive barring new customer onboarding via online and mobile channels, marking a strategic shift in the bank's approach amidst regulatory challenges.

Read more here

Fundraising and Financials

1. Classplus injects support into GyanLive, a Gandhinagar-based test prep platform specializing in state government job exams since 2019.

   Read more here

2. CarTrade revs back into profitability, notching a INR 25 Cr profit after tax in Q4, coupled with a remarkable 38% year-on-year revenue surge, marking a triumphant return for the automotive platform.

   Read more here

3. Poshn, the agritech startup, secures a hefty $4 million investment, alongside $2 million in debt, in a pre-Series A funding round led by Prime Venture Partners and Zephyr Peacock India.

   Read more here

4. LifeWell, the merged entity of mFine and LifeCell International’s diagnostic business, gears up to secure Rs 184 crore ($22 million) in a pre-IPO funding round, spearheaded by long-time supporter OrbiMed.

   Read more here

5. Superplum, the Noida-based fruit supply startup, secures a significant milestone, raising $15 million in a Series A funding round. Led by Erik Ragatz, former partner at private equity firm Hellman & Friedman, this investment sets the stage for Superplum's growth.

   Read more here

6. Fintech startup 50Fin secures a significant boost, raising $550,000 in its latest funding round, with Arali Ventures and Nitin Gupta leading the investment charge.

   Read more here