Genpact Drives AI Adoption, CRED Makes Fintech History, and Zepto Gears Up For IPO

Genpact is driving AI adoption with its new accelerator, while CRED makes fintech history as the first to offer access to India's e-rupee. The government is backing MSMEs with a INR 277 Cr initiative to onboard 5 lakh businesses to ONDC, while Zepto gears up for its IPO by relocating to India. Meanwhile, ShareChat expands its AI ambitions with a new centre in Singapore, marking a strategic push in Southeast Asia.

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

“Ab Hogi Kranti, Jai Mahakal”: Govt Launches INR 277 Cr TEAM Initiative To Add 5 Lakh MSMEs To ONDC

In a bid to digitize India's small businesses, the government has rolled out the INR 277 Cr TEAM initiative in collaboration with ONDC.

Aiming to onboard over 5 lakh MSMEs, it places a special emphasis on empowering women-led enterprises. This move marks a significant step in making India's digital commerce ecosystem more inclusive.

Read more here

“Itihas Gawa Hai”: CRED Rolls Out E-Rupee Wallet, First Fintech To Offer Access To CBDC

CRED has made history as the first fintech to enable access to India’s central bank digital currency (CBDC), the e-rupee.

Backed by Tiger Global and Peak XV, the platform is now part of a broader shift towards a digital economy. Launched by the RBI as a pilot in late 2022, the e-rupee offers a new alternative to physical currency, blending tradition with innovation.

Read more here

“Badhte Chalo, Badhte Chalo”: ShareChat Sets Up Its First AI Centre Of Excellence In Southeast Asia

ShareChat is stepping up its AI game with a new centre of excellence in Singapore, its first in Southeast Asia.

This marks the social media platform’s third global AI hub, following facilities in the US and UK. The Singapore hub will focus on refining AI and ML models, bolstering ShareChat's tech capabilities on a global scale.

Read more here

“Ab Har Ghar Mein Hogi AI”: Genpact Launches Accelerator To Speed Up AI Adoption By Enterprises

Genpact has flipped the switch on its AI Gigafactory in Bengaluru, aiming to supercharge AI adoption among enterprises.

Think of it as a power-up station for businesses to fast-track their AI game. With plans to roll out more such hubs across India and globally, Genpact is clearly betting big on an AI-powered future.

Read more here

“Ghar Ki Yaad”: Zepto Moves Domicile To India From Singapore Ahead Of IPO

Zepto has shifted its base from Singapore to India, marking a major milestone as it gears up for its IPO. CFO Ramesh Bafna hailed the move as a “historic completion in record time.”

With this step, the quick commerce platform aligns itself closer to its home market and future ambitions.

Read more here

1. Bizloan has raised INR 35 Cr in a Series A round led by the Dell Foundation and BLinC Invest to boost MSME lending. With plans to expand its reach and tech capabilities, the NBFC aims to empower over 2,500 micro enterprises in the coming year.

   Read more here

2. Fintech startup Ambak has secured $7 Mn in seed and Pre-Series A funding led by Peak XV's Surge and other investors. The funds will drive its tech-driven home finance marketplace and expand its offerings.
   Read more here

3. Gaming startup MetaShot has raised INR 11 Cr in seed funding led by Sauce.vc, Sharrp Ventures, and Panthera Peak Capital. The funds will fuel team expansion, R&D, and brand growth for the gaming platform.
   Read more here

4. OYO-backed Innov8 has raised INR 110 Cr by diluting 10% of its stake, valuing the coworking startup at INR 1,000 Cr. The funding saw participation from prominent family offices like Mankind Pharma and Gauri Khan.
   Read more here

5. Veloce Fintech’s Venture Debt Fund has raised INR 140 Cr to provide venture debt and pre-IPO funding to MSMEs. With INR 100 Cr already deployed, the fund targets returns of 18% on investments ranging from INR 1 Cr to INR 20 Cr.
   Read more here

6. Materials science startup Whizzo has secured $4.2 Mn in a funding round led by Lightspeed, with participation from BEENEXT. The company will use the funds to enhance R&D and build a design lab for fashion-engineered textiles.
   Read more here

7. Astrome has raised $10 Mn to expand into satellite communication markets and develop new product lines. Founded in 2015, the startup focuses on wireless communication solutions for 5G, rural broadband, and satellite networks.
   Read more here