Ixigo’s Celebrations, Karnataka’s New Cyberlaws, FirstCry Makes Headlines and more

Ixigo is celebrating a 78% PAT leap and a 16% revenue boost, while Blinkit and Zomato show strong performance with revenue jumps and new app ventures. Karnataka steps up with a new cybercrime policy, and Chennai's Vaanam accelerates space tech innovation. Meanwhile, BYJU’S faces a hefty fine in its bankruptcy case, Unicommerce gears up for a major IPO, and FirstCry makes headlines with its $3B IPO sans promoters.

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What Matters

“Waah, Kya Scene Hai”: Ixigo Q1 As PAT Jumps 78% YoY To INR 14.85 Cr, Revenue Rises 16%

Ixigo has posted impressive financial results for Q1 FY25, with a 78% jump in profit after tax to INR 14.85 Cr, up from INR 8.36 Cr in the same quarter last year.

Their revenue from operations rose by 16% to INR 181.87 Cr, reflecting steady growth. Additionally, the startup's EBITDA saw a significant 62% year-on-year increase, reaching INR 19.2 Cr.

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“Bachke Rehna Re Baba”: Karnataka Brings In Policy To Curb Cybercrimes

Karnataka is stepping up its game against cybercrimes with a new policy in place. The first part aims to build a robust cybersecurity ecosystem, bringing together public sectors, academia, industry, startups, and the government.

The second part focuses on fortifying the state's IT assets, ensuring a stronger defense against cyber threats.

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“Night Life Ka Maza”: Zomato To Launch New App ‘District’ For Going-Out Business

Zomato is set to spice up your social life with its new app, 'District,' expanding beyond dining out to include movies, sports ticketing, live performances, shopping, and staycations.

This all-in-one app aims to revolutionize your 'going-out' experience, becoming Zomato's next big B2C venture. Get ready to have all your entertainment and leisure needs covered in one place.

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“Ab Aayega Maza”: Blinkit Q1 As Revenue Jumps 22% QoQ To INR 942 Cr, Adjusted EBITDA Loss

Blinkit has zipped through Q1 FY25 with a 22% revenue jump to INR 942 Cr, marking a significant rise from the previous quarter. Despite the impressive growth, the quick commerce arm of Zomato reported an adjusted EBITDA loss of INR 3 Cr.

With a 145% increase from last year's INR 384 Cr, Blinkit is clearly making fast strides in the quick commerce arena.

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“Hum Bhi Hai Josh Mein”: Zomato Q1 As Profit Surges Multifold To INR 253 Cr, Revenue Up 74% YoY

Zomato has delivered a feast of financial growth in Q1 FY25, with profit surging to INR 253 Cr, a massive leap from just INR 2 Cr in Q1 FY24. Revenue from operations soared 74% to INR 4,206 Cr, showcasing their robust expansion.

Despite total expenses climbing to INR 4,203 Cr, Zomato's net profit still jumped 45% quarter-on-quarter, making for a delectable earnings report.

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“Maamla Legal Hai”: BYJU’S Bankruptcy Case With Riju Ravindran Fined $10K A Day Over Missing $533 Mn

BYJU'S co-founder Riju Ravindran is in hot water, facing a hefty fine of $10K a day until he helps track down a missing $533 Mn accused of being hidden from US lenders.

A US Bankruptcy Court judge dismissed his plea to pause the order while the company finds new lawyers. The legal team has quit, citing an "irreparable breakdown," leaving Ravindran in a sticky situation.

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“Jung Ki Tayyari”: Unicommerce Sets IPO Price Band At INR 102-108, Aims To Raise Over INR 276.5 Cr

Unicommerce is gearing up for its IPO with a price band set between INR 102 and INR 108 per share, aiming to raise over INR 276.5 Cr.

The offer, which will run from August 6 to August 8, involves an offer-for-sale of 2.56 crore shares, with the proceeds going to the selling shareholders. It’s a significant move as Unicommerce looks to make waves in the market.

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“Hum Kissi Se Kam Nahi”: FirstCry launches $3B IPO with no promoters, SoftBank cuts its stake to 20%

Unicommerce is gearing up for its IPO with a price band set between INR 102 and INR 108 per share, aiming to raise over INR 276.5 Cr.

This SoftBank-backed SaaS platform will open its public subscription from August 6 to August 8. It's an exciting chance to get in on the ground floor of a tech player making waves in the industry.

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“Sabhi Ko Wannakam”: Chennai entrepreneurs launch private spacetech accelerator Vaanam

Chennai is now home to Vaanam, India's first private space tech accelerator, thanks to entrepreneurs Hariharan Vedamurthy and Sameer Bharat Ram. With the guidance of Padma Bhushan Nambi Narayanan, a former ISRO scientist, Vaanam aims to boost the local space startup scene.

The advisory board features notable names like industrialist Ravi Mariwala and actor/director R Madhavan, setting the stage for an exciting leap in space technology.

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1. Health diagnostic startup Acculi Labs has secured $1.5 Mn in seed funding from Sabi Holding India Ltd. The Bengaluru-based firm will use the funds to advance its AI insights system Lyra, the Lyfas Udyam project, and strengthen its joint venture with Sabi Holding.

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2. Clix Capital has secured INR 220 Cr in new funding led by Apollo Global Management and former GE India executives Pramod Bhasin and Anil Chawl. The Delhi NCR-based NBFC plans to use the capital to expand its MSME lending operations.

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3. Scimplify has raised $7 Mn in Series A funding led by Omnivore, with additional investments from 3One4 Capital, Beenext Asia, and Bertelsmann. The platform, specializing in sourcing and manufacturing specialty chemicals, plans to use the capital to scale its operations.

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4. Kinetic Green, the electric vehicle arm of the Kinetic group, has raised $20 Mn in equity and debt from Greater Pacific Capital. This marks the company's first investment round of 2024, with funds set to support its growth in the EV sector.

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5. Jaipur-based insure-tech startup Square Insurance has raised $3 million in Pre-Series A funding led by Negen Capital. Notable investors include Yogesh Chaudhary of Warmup Ventures and Prashant Kothari of Jaipur Color Stone.

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6. Bloq Quantum, an AI-driven quantum software startup, has secured Rs 1.3 crore in a pre-seed round led by Inflection Point Ventures. The funding will support product development, team expansion, and innovations in quantum algorithms.

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7. Hippo Innovations has raised Rs 3.3 Cr in its ongoing Pre-Series A round from India Accelerator and Finvolve. The funds will be used to boost marketing, implement AI-driven workflows, and enhance its enterprise offerings.

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