Centre’s Sahkar Taxi, Karnataka Fuels Startups, and Jumbotail Acquires Solv India

The Centre is rolling out Sahkar Taxi, a driver-first alternative to Ola and Uber, while Karnataka is fueling 101 startups with ₹25 Cr under Elevate 2024. Fitness giant Cult.fit is gearing up for a ₹2,500 Cr IPO with top bankers in tow, and in B2B action, Jumbotail is set to acquire Solv India, shaking up India’s wholesale game.

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“Revolution Will Be Live-streamed”: Karnataka Picks 101 Startups Under Elevate 2024

Karnataka’s Elevate 2024 is lifting 101 startups with a ₹25 Cr seed fund boost, fueling fresh innovation across the state.

With 42 women-led ventures and 36 startups from beyond Bengaluru, the initiative is breaking metro monopolies. Looks like the Silicon Valley of India is making room for everyone in its startup success story.

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“Iss Race Ke Purane Khiladi Hai Hum”: Centre To Launch ‘Sahkar Taxi’ To Compete Against Ola, Uber

The government is steering into the ride-hailing game with Sahkar Taxi, a driver-first alternative to Ola and Uber.

Unlike the commission-hungry giants, this service lets drivers keep full control over their earnings—no middlemen, no hefty cuts. With rickshaws, two-wheelers, and cabs all in the mix, the streets are about to get a cooperative upgrade.

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“Aur Banao Doley Sholey”: Cult.fit Shortlists Five Bankers For INR 2,500 Cr IPO

Cult.fit is flexing not just muscles but market moves—shortlisting five top bankers, including Goldman Sachs and Morgan Stanley, for its ₹2,500 Cr IPO.

The Zomato-backed fitness giant is eyeing a pumped-up $2 Bn valuation, nearly 28% higher than before. With a 33.6% revenue surge in FY24, it looks like India’s gym economy is getting its financial workout right.

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“Hum Saath Saath Hai”: B2B Marketplace Jumbotail To Acquire Solv India

Jumbotail is making a big move in the B2B space, acquiring Solv India with a nod from SC Ventures.

The combined force will be led by Jumbotail’s cofounders, with Solv India’s chairman joining the board. With its focus on connecting brands to kirana stores, this merger could shake up India’s wholesale game.

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1. 2am VC is doubling down on Indian startups with its second fund, eyeing 30 early-stage bets across AI, fintech, and consumer tech. With its global footprint, this late-night hustler of a VC is keeping the startup dream alive—round the clock.
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2. Vahdam Tea just brewed up ₹25 Cr in fresh funding, adding to its ₹200 Cr+ war chest from top investors. With a strong supply chain and a massive Delhi facility, it’s steeping its way to global D2C dominance.
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3. Country Delight is set to secure $25 Mn from Temasek as part of its Series E round, strengthening its financial position. With fresh capital earmarked for working capital and an undisclosed project, the D2C soonicorn continues its steady expansion.
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4. OneStack has raised $2 million in its Series A round, with another $1 million on the way, backed by Pentathlon Ventures and others. The fintech platform continues to strengthen its position with support from key investors like Venture Catalysts.
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5. Abound has secured $14 million in seed funding led by NEAR Foundation to bridge financial services for NRIs in the US. With backing from Circle Ventures and Times Internet, the fintech aims to streamline cross-border financial access.
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