Yudiz Dives Into Fintech, Paytm Recalibrates Its Financial Metrics, Proparco Makes First VC Investment In India and more

Yudiz is diving into fintech with a 51% stake in ABCM App, while Paytm is recalibrating its financial metrics to focus on profitability. EaseMyTrip is expanding its horizons with ScanMyTrip on ONDC, and WhatsApp is empowering small businesses with Meta Verified.

Meanwhile, AFD Group’s Proparco makes its first VC investment in India through Omnivore, and NEWME is revolutionizing fast fashion with a lightning-fast 90-minute delivery. Plus, JITO Incubation Centre is launching Cohort 10, fostering the next wave of innovative startups.

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

What Matters

“Ab Humari Baari”: Yudiz Picks Up 51% Stake In ABCM App To Venture Into Fintech

Yudiz Solutions, a listed blockchain and IT development firm, has made its move into fintech by acquiring a 51.01% stake in Mumbai-based ABCM App. This venture signals Yudiz's intention to broaden its horizons within the digital payment space.

The acquisition marks a significant step in their strategic expansion, hinting at new directions for the company's growth trajectory.

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“Munafe Par Bhi Dhyan Dijiye”: Paytm To Shift Focus From EBITDA Before ESOP

At Paytm's recent AGM, founder Vijay Shekhar Sharma announced a shift in focus from EBITDA before ESOP to PAT as the company's new financial benchmark. This strategic change comes at the advice of board members as Paytm sharpens its financial goals.

Sharma also shared plans to apply for a payment aggregator licence with the RBI, signaling further growth in the fintech landscape.

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“Rishta Wahi, Soch Nayi”: EaseMyTrip Unveils ScanMyTrip On ONDC To Expand Its Travel Offerings

EaseMyTrip has launched ScanMyTrip on ONDC, offering a fresh platform for travel services. This marketplace allows OTAs, MSMEs, travel agents, and homestays to list flights, hotels, and accommodations.

By simplifying the onboarding process, ScanMyTrip aims to make it easier for businesses to reach travelers and compete in the growing online travel space.

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“Jo Dikhta Hai, Wo Bikta Hai”: WhatsApp Rolls Out Meta Verified For Small Businesses In India

WhatsApp has introduced the Meta Verified badge for small businesses in India, offering them a chance to boost credibility. For a fee of INR 1, businesses can now send customized messages to customers.

Additionally, WhatsApp's 'Business Yatra' initiative aims to expand its presence in Tier II and III cities, connecting more local entrepreneurs to the platform.

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“Aakhir Woh Din Aa Hi Gaya”: AFD Group’s Proparco Makes Maiden VC Fund Investment In India With Omnivore

Proparco, part of AFD Group, has made its first venture capital investment in India with a $5 Mn commitment to Omnivore's agritech and climate sustainability fund.

This investment aims to advance agritech innovations and climate solutions, aligning with Proparco's focus on reducing inequality and adapting to climate change. The partnership is expected to empower entrepreneurs in India's rural and agriculture sectors while driving climate action across Southeast Asia.

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“Mast Hai, Apun Ko Bhi Karne Ka Hai”: NEWME Sets New Standard in Fast Fashion with 90 Minutes Delivery

NEWME is shaking up the fast fashion scene in India with its groundbreaking 90-minute delivery service. As the first brand in the sector to offer such rapid delivery, NEWME is setting a new benchmark in retail.

This innovation marks a significant leap forward, transforming how quickly fashion can reach customers.

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“Suswagatam Suswagatam”: JITO Incubation Centre Unveils Cohort 10 Startups

JITO Incubation Centre (JIC) has successfully launched its Cohort 10 Incubation Program, aiming to support early-stage startups with a focus on innovation.

Following the success of Cohorts 8 and 9, which showcased groundbreaking ventures across various sectors, JIC continues its mission to foster entrepreneurial growth. This initiative by JITO Incubation and Innovation Foundation further strengthens its role as a key player in the startup ecosystem.

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1. Gurugram-based vermeil jewellery brand Trisu has secured pre-seed funding from All In Capital, along with JK Tyres, Amaanta Group, and angel investors. The funds will be used for customer acquisition, product innovation, and market expansion.

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2. Dharaksha Ecosolutions has raised INR 24.8 Cr from Avaana Capital to expand production of biodegradable packaging from agricultural waste. The funds will support R&D and enhance market presence in this growing sector, building on their achievement of repurposing 7,000 tons of waste.

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3. Futwork has secured INR 20.9 Cr to enhance its AI-based customer communication solutions for enterprises. Founded by Armaan Vananchal, Niranjan Nakhate, and Sri Ganapathy, the startup, formerly known as Frapp, offers businesses scalable tele-calling teams at zero fixed costs.

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4. Apptile, a no-code mobile development platform, has raised $1.2 million in new funding led by Singularity Early Opportunities Fund, with Crown Trust and DeVC also contributing. This brings Apptile's total funding to $3.7 million, bolstering its growth in the mobile development space.

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5. Wundrsight has secured $400K in seed funding led by Inflection Point Ventures, with Social Alpha and other angel investors also participating. The funds will help expand hospital and clinic partnerships in India and advance the development of its VR-based mental health solutions.

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