Ingenious Unveils Divya Drishti, Jio Ropes In Sidharth Kedia, DPIIT's 100-day Agenda and more

From Sid’s Farm appointing tech guru Sunil Potturi as CTO to AI innovations in defence by Ingenious Research, DPIIT's reforms easing startup burdens, and Jio's gaming coup with Sidharth Kedia. Meanwhile, BlackBuck gears up for a public debut, ixigo's IPO promises a hefty premium, VentureSoul launches a massive fund, and Paytm explores a major business deal with Zomato.

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

What Matters

“Duaon Mein Yaad Rakhna”: Paytm In Talks With Zomato To Sell Movie Ticketing Biz For INR 1,500 Cr

Paytm is in advanced talks with Zomato to sell its movie ticketing business for INR 1,500 Cr, though a final decision is still pending with other potential buyers in the mix. This deal would help Zomato expand its "going out" segment while allowing Paytm to concentrate on its core digital payments operations.

The move comes as Paytm faces challenges with RBI's scrutiny of its payments bank arm and reports its first quarterly decline since listing in Q4 FY24.

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“Sweet Smell Of Success”: Dairy Brand Sid’s Farm Ropes In Cintelio Cofounder Sunil Potturi As CTO

Sid's Farm, a bustling D2C dairy brand from Telangana, just welcomed tech veteran Sunil Potturi as their new CTO. With over 20 years of experience at companies like Cintelio, High Radius, and Mediamint, Potturi is set to spearhead innovation and growth at Sid's Farm.

Founded in 2016 and backed by a $1 million investment, Sid's Farm delivers fresh dairy delights to 20,000 happy customers every day.

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“Chehra Hai Ya Chand Khila Hai”: AI Startup Ingenious Research Develops Facial Recognition System Under Defence Ministry’s Fund

Ingenious Research Solutions, an AI startup founded by Dr. Shivani Verma in 2022, has unveiled a cutting-edge facial recognition system called Divya Drishti, funded by the Ministry of Defence’s Technology Development Fund.

This innovative tool goes beyond traditional methods, integrating facial recognition based on physiological parameters like gait and skeleton.

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“Bekarar Karke Hume Yun Na Jaaiye”: Easing Startup Funding, Reduction In Compliances On DPIIT’s 100-Day Agenda

The DPIIT's 100-day agenda is all about making life easier for startups with streamlined funding and reduced compliances. They’re eyeing reforms to simplify business operations from start to finish and might even roll out relaxed rules under the second Jan Vishwas Bill.

As a cherry on top, they’re nudging corporates and unicorns to create manufacturing-focused incubators.

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“Naya Daur”: Jio Ropes In NODWIN Gaming’s Former CEO Sidharth Kedia To Head Gaming Vertical

Sidharth Kedia, who left his CEO role at NODWIN Gaming last October, is now heading JioGames as Senior VP. This marks his second stint with the Reliance group, bringing his gaming expertise back to the fold.

With Jio’s 10-year partnership with French firm Gamestream, including heavyweights like Ubisoft, Kedia is set to elevate Jio's cloud gaming platform to new heights.

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“Aage Ki Socho”: With IPO Plans In FY25, BlackBuck Converts Into Public Entity

With IPO plans on the horizon for FY25, BlackBuck has officially transformed into a public entity.

The board approved the change, renaming the company from Zinka Logistics Solutions Private Limited to Zinka Logistics Solutions Limited. This move opens the door for BlackBuck to tap into a vast pool of investors, gearing up for a significant fundraising boost.

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“Dhoom Macha Le”: ixigo IPO’s Shares Likely To List At 30% Premium Over Issue Price Of INR 93

ixigo's IPO shares are poised to debut at a 30% premium over the issue price of INR 93.

In the unlisted market, shares already command a premium of INR 29-30, pushing the expected listing price to around INR 120-125 per share. With an overwhelming subscription rate of over 98 times for its INR 120 Cr fresh equity issue and 6.67 Cr share OFS, ixigo's market entry is set to be a blockbuster event.

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“Ab Aayega Maza”: VentureSoul Partners Launches INR 600 Cr Maiden Debt Fund To Back New-Age Tech Startups

VentureSoul Partners has unveiled its first-ever debt fund worth INR 600 Cr, targeting innovative tech startups! The SEBI-registered Category II AIF, VentureSoul Capital Fund I, boasts commitments from family offices, corporates, HNIs, and top investors.

Founded by three ex-bankers, this sector-agnostic fund will support fintech, B2C, B2B, and SaaS startups with unique debt solutions, driving growth in the new economy space.

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1. Prosperr.io secures INR 12.9 Cr in pre-seed funding to revolutionize taxation with AI-powered solutions, led by Pinterest and Coinbase board member Gokul Rajaram. The fintech SaaS startup aims to simplify tax processes, making financial management easier for all.

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2. OYO is reportedly in advanced talks to secure fresh funding of INR 1,000 Cr from family offices, following its recent withdrawal of IPO documents from SEBI. The hospitality giant will host an extraordinary general meeting on June 18 to approve the fundraise.

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