TBO Tek’s Spectacular Debut, BizDateUp Dives in Waste Management, 9Unicorns Renames Itself

From TBO Tek's soaring market debut to the uncertain fate of Free Fire's return to India, the Indian startup scene is ablaze. BizDateUp dives into wet waste management, while 9Unicorns transforms into 100Unicorns, launching a hefty $200 million fund. And as Zappfresh gears up for its IPO, the landscape of innovation in India continues to evolve.

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

What Matters

“Darling, Ankhon se aankhe char karne do”: TBO Tek Makes A Strong Market Debut, Lists At Over 55% Premium On NSE

TBO Tek made a spectacular market debut, listing at INR 1,380 on the BSE, a dazzling 50% premium over its issue price of INR 920. The company’s IPO was a hot ticket, getting subscribed 86.7 times on the final day.

With a fresh issue of shares worth up to INR 400 crore and an offer for sale of 1.25 crore equity shares, TBO Tek is clearly the market’s new darling.

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“Aayega aayega aanewala”: 8 Months After Teasing Launch, Uncertainty Looms Over Free Fire’s India Re-Entry

Eight months after hinting at a comeback, uncertainty still clouds Free Fire’s re-entry into India. Sea’s CEO, Forrest Li, assured that they’re “actively” working with stakeholders to craft the best relaunch strategy.

Despite the potential upsides for users and bookings, the game remains in limbo, having been banned alongside 53 other Chinese apps back in February 2022.

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“Gaadiwaala Aaya, Ghar Se Kachra Nikal”: BizDateUp Picks Up 20% Stake In Duro Green To Enter Wet Waste Management Space

BizDateUp is diving into the wet waste management scene by snagging a 20% stake in Duro Green. This partnership aims to supercharge Duro Green’s operations with cutting-edge tech.

Fresh off announcing INR 200 Cr fund for tech startups, BizDateUp is clearly making waves in the clean tech world, teaming up with Duro Green, the 2019 brainchild of Nishank Shah specializing in eco-friendly solutions.

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“Kisiko Pata Nahi Chalega”: 9Unicorns Rebrands to 100Unicorns, Launches Second Fund With $200 Mn Fund

9Unicorns has rebranded to 100Unicorns and launched a second fund with a whopping $200 million corpus. The new 100Unicorns Fund II, which also includes a $100 million green shoe option, aims to emulate the Y Combinator model in India.

With 60% of the fund dedicated to initial investments of $250,000-$300,000 in startups, cofounder Apoorva Ranjan Sharma is set on nurturing innovation from the very beginning.

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“Sabhr Ka Phal Meetha Hota Hai”: Zappfresh Gets The IPO Ball Rolling, Turns Into A Public Entity

Zappfresh is gearing up for its IPO by transitioning from a private limited company to a public entity, officially rebranding as DSM Fresh Foods Limited. The D2C meat delivery startup has proposed boosting its authorized share capital from INR 1.11 Cr to INR 25 Cr.

In a strategic move, founder and CEO Deepanshu Manchanda is set to step up as chairman and managing director, leading the company into its next big chapter.

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1. Stupa Sports Analytics scored big with a INR 28 crore pre-Series A funding led by Centre Court Capital and PeerCapital. This sportstech startup is set to bring cutting-edge AI solutions to sports federations, building on their earlier INR 7.5 crore seed and pre-seed rounds.

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2. Ahead of its IPO, Fairfax-backed Digit Insurance secured INR 1,176.5 crore from anchor investors, including heavyweights like Fidelity, Goldman Sachs, and Abu Dhabi Investment Authority.

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3. ideaForge's Q4 profit after tax slipped 30% QoQ to INR 10.3 Cr, despite a 12.5% QoQ rise in operating revenue to INR 102.3 Cr. The company also celebrated six new patents and Type certification for its Q6 UAV.

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4. Rupeek secured INR 51 Cr in a down round from investors 360 One Large Value Fund and BlackSoil, with a valuation of INR 1,785 Cr, marking a significant 64.5% decline from its valuation in 2022.

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5. Red.Health, formerly known as StanPlus, secures $20 million in a blend of equity and debt funding, led by Jungle Ventures, in their Series B round. The investment, with participation from Alteria Capital, HealthQuad, and HealthX, signals a significant boost for the ambulance startup.

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6. Infurnia, a cloud-native architecture design software startup, secures $1.2 million in an angel round led by Yogesh Chaudhary, owner of Jaipur Rugs, adding to their total angel fundraising of $4.9 million across multiple rounds.

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7. Sprect, the C2C consulting marketplace, secures Rs 50 lakh in angel funding from Siddarth Shetty, Chief Business Development Officer at ServiceChannel.

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8. Wow! Momo achieves a remarkable milestone by surpassing the Rs 400 crore revenue mark in FY23, marking a 3.8X growth from FY21.

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9. DrinkPrime secures $3 million in funding from SIDBI Ventures, with participation from existing investors, bolstering its mission to provide affordable and accessible clean drinking water solutions.

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