Yulu Makes Headlines, Zaggle Strengthens Leadership, Tracxn Expands ESOP Pool and more

Yulu has made headlines by turning EBITDA positive and crossing $30 million in ARR, fueled by surging demand for quick commerce. Meanwhile, Zaggle strengthens its leadership with Kotak veteran Virat Diwanji, and Ola Electric faces a 9% drop in shares following Bhavish Aggarwal's recent social media controversy.

Excitement builds as SuperGaming gears up for the launch of its battle royale game Indus on October 16, while Tracxn expands its ESOP pool, indicating robust employee engagement. On the corporate front, Exicom has acquired Australia's Tritium for $37 million, and Prosus is keen to increase its stake in Urban Company ahead of its IPO.

Lastly, government agencies are intensifying their investigation into WazirX's $234 million crypto hack, signaling the ongoing scrutiny in the crypto space.

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

What Matters

“Zabaan Zara Sambhal Ke”: A Day After Bhavish Aggarwal’s Social Media Spat, Ola Electric Shares Down By 9%

A day after Bhavish Aggarwal's fiery social media clash with comedian Kunal Kamra, shares of Ola Electric took a nosedive, dropping over 9%. The backlash was fueled by growing customer dissatisfaction with Ola’s after-sales service, as photos of abandoned escooters outside dealerships sparked outrage online.

Aggarwal’s defensive response, accusing Kamra of being paid to criticize the company, didn’t sit well with users, who were quick to call out his tone and attitude.

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“Waah, Kya Scene Hai”: Yulu Turns EBITDA Positive, Breaches $30 Mn ARR On Rising Quick Commerce Demand

Yulu is on a roll, crossing $30 Mn in annual recurring revenue and turning EBITDA positive, thanks to booming quick commerce and food delivery.

With over 40,000 electric vehicles zipping around, Yulu’s looking to ramp up to 1 lakh EVs by 2025. And to power that expansion, they’re gearing up for a $100 Mn Series C funding round.

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“Aaiye Aapka Intezaar Tha”: Zaggle Boosts Board With Kotak Veteran Virat Diwanji

Zaggle has made a strategic move by bringing on board banking veteran Virat Diwanji, who carries with him over three decades of experience, including 20 years at Kotak Mahindra Bank.

In his new role, Diwanji is expected to strengthen Zaggle's innovation and customer engagement efforts, key areas for driving growth in the fintech sector.

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“Ab Machega Dhoom”: SuperGaming’s Battle Royale Game Indus To Kick Off From October 16

SuperGaming’s highly anticipated made-in-India battle royale game, Indus, is all set to drop on October 16.

Available for both Android and iOS, the game promises to bring a fresh, homegrown twist to the genre, giving gamers a taste of Indian innovation in action. With the countdown ticking, fans are gearing up for an exciting new battleground on their screens.

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“Kaddu Katega, Sab Mein Batega”: Tracxn Expands ESOP Pool With Additional 2.42 Lakh Stock Options

Tracxn is boosting its Employee Stock Option Plan (ESOP) pool, adding 2.42 lakh stock options to reward its employees. This expansion follows the company’s August move, where nearly a lakh equity shares were allocated under its ESOP 2016 plan.

Having made its stock market debut last October at a premium, Tracxn seems committed to sharing its success with its team as it continues to grow.

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“Gurugram Se Australia Tak”: Exicom Buys Australia’s Fast Charger Maker Tritium For $37 Mn

Gurugram-based Exicom is stepping up its game in the EV infrastructure world with a $37 Mn acquisition of Australian fast charger maker Tritium. The deal brings Tritium’s Tennessee manufacturing facility and Brisbane engineering center under Exicom’s wing, boosting its global reach and EV charging capabilities.

This move strengthens Exicom’s position as a leader in sustainable energy solutions, leveraging cutting-edge lithium-ion technology.

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“Badhai Ho Badhai”: Prosus Looking To Double Down On Urban Company Via Secondary Deal

Prosus is gearing up to double its stake in Urban Company through a secondary deal, ahead of the startup’s much-anticipated IPO next year.

As one of the most active investors in India’s startup scene, Prosus seems confident in Urban Company’s growth potential. With this move, the global investor is solidifying its bet on the home services giant before it hits the public markets.

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“Dukh, Dard, Peeda”: Govt Agencies Start Probe Into WazirX’s $234 Mn Crypto Hack

Months after WazirX’s staggering $234 Mn crypto heist, government agencies have launched a probe into the security breach.

Investigators are digging into how the massive illegal transfer of crypto tokens took place from the exchange’s wallets. As the investigation unfolds, the crypto community is closely watching how WazirX navigates this crisis and what new regulations might emerge.

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1. Former media executives’ Frammer AI has secured $2 Mn in seed funding to help enterprises monetize their video content. Led by gaming-focused VC firm Lumikai, the platform aims to revolutionize video creation for businesses.

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2. D2C fashion brand Zouk is in advanced discussions to raise $10 Mn, with Aavishkaar Capital leading the round. This funding comes after an 18-month hiatus and highlights Zouk's commitment to producing cruelty-free fashion products.

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3. Your-Space, the student housing startup, reported impressive revenue of Rs 142 Cr in FY24, marking steady growth. However, the Delhi-based company also faced a 20% rise in losses during the same period.

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4. XDLINX Space Labs, a spacetech firm based in Hyderabad, has secured $7 million in seed funding led by Ashish Kacholia of Lucky Investments. The company plans to use the investment to enhance the manufacturing of next-generation payloads for defense and commercial missions.

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5. Aereo, the aerial intelligence platform, has raised an additional $1.8 million in its Series B funding round led by JSW Ventures. This comes after the company secured $15 million earlier in the round from 360 ONE Asset and other existing investors, bolstering its growth in the sector.

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6. D2C beauty tools brand Beaute Secrets has raised Rs 1.6 Cr from cash flow financing platform Velocity. The funds will be used to enhance its operations on quick commerce platforms and expand its product offerings.

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7. AI startup Nayan Tech has secured $2 million in its pre-Series A round, led by BEENEXT and backed by several investors, including We Founder Circle. The funding will support the expansion of its AI and IoT-powered smart city solutions for traffic management and road safety.

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8. Travel-tech startup Holiday Tribe has raised Rs 5.4 Cr in its seed funding round, led by Powerhouse Ventures and GSF. The round saw participation from notable investors, including India Mart's Dinesh Agarwal and BharatMatrimony.com's Murugavel Janakiraman, along with actor Gaurav Kapur.

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