Indi Startup Talks (2025)

28/08/2025

SBI Card and Flipkart have recently joined hands to announce the launch of the ‘Flipkart SBI Credit Card’. This one-of-its-kind co-branded credit card was launched in the presence of SBI’s chairman, Challa Sreenivasulu Setty, and SBI’s MD Ashwini Kumar Tewari.

The Flipkart SBI Card has been meticulously designed with curated cashback benefits to offer a rewarding shopping experience for discerning customers on the majority of their purchases. The launch of this credit card reflects SBI Card and Flipkart’s ongoing efforts to empower shoppers with greater value, flexibility, and access to formal credit while enhancing their overall shopping journey.

Customers can conveniently apply for the credit card digitally via the Flipkart App and SBI Card SPRINT, by visiting the SBI Card website SBI Card.com.

Cashback on apps
With the Flipkart SBI Card, customers can earn 7.5 percent cashback on spends made on Myntra, and 5 percent cashback on spends made on Flipkart, Shopsy, and Cleartrip.

Customers can utilise the rewarding value proposition to make purchases across a broad range of products and services across the Flipkart ecosystem, including mobiles, electronics, grocery, fashion, furniture, appliances, home furnishings, travel bookings, and more.

Moreover, customers can earn 4 percent cashback on select brands like Zomato, Uber, Netmeds, and PVR, and 1 percent unlimited cashback on all other eligible spends. The Flipkart SBI Card comes with an auto-credit of cashback facility, which allows automatic credit of entitled cashback to the SBI Card account within two days of statement generation, ensuring a hassle-free experience.

Salila Pande, Managing Director & Chief Executive Officer, SBI Card, said, “At SBI Card, we continuously strive towards delivering best-in-class products that align with the evolving needs and aspirations of our customers.

Source - Mint

28/08/2025

Apple has announced its fourth retail store in India, Apple Koregaon Park in Kopa, Pune, which will open on Thursday, 4 September at 1PM IST. The news comes just days after the unveiling of Apple Hebbal in Bengaluru, the company’s third store in the country. With this launch, customers in Pune will be able to shop directly from Apple, experience its full range of products first-hand, and access official support and services.

Apple has also unveiled the barricade for the store, which is full of peacock feathers and symbolises India’s culture and national bird. This, of course, is synonymous with Apple Hebbal as well and does celebrate Apple’s third and fourth stores in India.

Announcing Apple Koregaon Park, the company said, “At Apple Hebbal and Apple Koregaon Park, customers will be able to explore Apple’s latest product lineup, experience new features, and receive expert support from team members such as Specialists, Creatives, Geniuses, and dedicated Business teams. Customers will also be able to attend Today at Apple sessions at these new store locations. Designed to inspire and educate, Today at Apple helps customers get started with their devices or take their skills further - whether in photography, music, art, or coding - through free events led by Apple Creatives..”

Customers at the upcoming Apple Koregaon Park and Apple Hebbal stores can expect the same services found in existing locations like Apple BKC and Apple Saket. Both new stores will provide help from Apple Specialists, host free 'Today at Apple' creative sessions, and offer complimentary engraving and Genius Bar support for a complete retail experience.

Source - Hindustan Times

26/08/2025

BeepKart, the Bengaluru-based used two-wheeler marketplace, has shut down operations after a nearly five-year run.

A statement on the startup’s website confirmed the closure, assuring support to existing customers.

As per Inc42, co-founders Hemir Doshi and Abhishek Saraf are currently exploring the sale of BeepKart’s assets and tech stack, and also plan to return remaining capital to investors.

The closure comes weeks after BeepKart wound down its Chennai operations and laid off staff in the city, with gradual exits also underway in Bengaluru. Despite earlier claims of shifting to an asset-light model with improved profitability and investor conversations, the company struggled to sustain its business.

Last year, Entrackr had exclusively reported the mass layoffs in BeepKart.

Founded in 2021, BeepKart offered a full-stack platform for buying and selling used two-wheelers, covering inspection, refurbishment, financing, and warranties. The firm last raised $5.6 million in its Series A round from its existing investors including Chiratae Ventures, Stellaris Venture Partners, and Vertex Ventures in April 2024. It had raised over $18 million throughout its journey.

In FY24, BeepKart reported a 165% YoY jump in revenue to Rs 100 crore, but losses also doubled to Rs 66 crore. Its FY25 results have yet to come.

BeepKart’s rival CredR shut down operations in October last year, while Cars24 also exited its Moto business, a similar vertical.

Source - Entrackr

26/08/2025

Hospitality chain OYO is expected to file its Draft Red Herring Prospectus (DRHP) in November with a valuation of $7-8 billion, sources aware of the matter told PTI.

The company is likely to take the proposal for the initial public offering to its board next week, sources said.

The firm in a statement said the decision on the IPO will be taken by its board. "While we cannot comment on any timelines related to OYO's DRHP or IPO related plans, since it's a decision that will be guided by OYO's Board of Directors and will be solely at their discretion. For now, OYO continues to evaluate a range of strategic options to drive value for its stakeholders," a company spokesperson said.

The travel tech platform has ramped up its discussion with key banking partners in the last few weeks with company's valuation guidance kept at $7-8 billion (shares at Rs 70 apiece), potentially in the range of 25-30 times the EBITDA, PTI reported citing sources.

"The filing with regulators is being considered for November. Over the past few months, SoftBank has engaged with banks such as Axis, Citi, Goldman Sachs, ICICI, JM Financial, and Jefferies in London to assess market sentiment. After assessing market feedback, they are now confident in their decision. The board will be approached next week as the company firms up the details and finalises key strategic elements," said one person aware of the developments.

SoftBank remains one of OYO's largest shareholders. Insiders indicate that the prospective filing will showcase OYO's latest Q1 financial performance, capitalising on a period of strong growth and improved fundamentals.

This has also been a double-digit growth quarter for the hospitality industry with strong tailwinds.

OYO is working on the rollout of a new parent brand identity that will unify its expanding portfolio.

Earlier this year, OYO founder and CEO Ritesh Agarwal sought name suggestions for its parent entity Oravel Stays Limited via his social media platforms.

Source - MoneyControl

25/08/2025

Indian gaming company WinZO has pivoted sharply after India’s online gaming regulations forced a halt to its real-money operations. The company has launched ZO TV, a short-video content platform, and expanded into the US market, its first entry into North America.

The move comes days after WinZO discontinued cash-based games in India. By stepping into the world’s largest gaming market, the company is targeting new revenue streams and visibility for Indian game developers. It now operates in two major markets, the US and Brazil, both considered high-growth hubs for mobile gaming.

"Our vision has always been to empower Indian game developers to reach global audiences. Entering the US, the world's largest and most influential gaming market is a decisive step towards that mission. We are equally excited to introduce ZO TV, our new short video format, which further diversifies our content offerings and strengthens WinZO's position as a global hub and one-stop destination for interactive entertainment," WinZO Co-Founders Saumya Singh Rathore and Paavan Nanda said.

ZO TV is built into the WinZO app and offers short entertainment clips, micro-dramas, and interactive content aimed at increasing user retention. The company is betting that video-led engagement, combined with global distribution, will keep users hooked despite regulatory challenges in its home market.

The expansion signals a clear shift in strategy. India’s new Online Gaming Act has tightened rules on money-based gaming, forcing industry leaders like WinZO and Dream11 to explore non-gambling verticals. WinZO recently posted strong FY24 earnings but now needs to rebuild momentum without its core revenue driver.

By moving fast into content and international markets, WinZO is positioning itself as more than a gaming platform — a discovery and entertainment ecosystem. The question now is whether this pivot can sustain growth and protect its developer network as the Indian gaming industry resets.

Source - CNBC TV18

22/08/2025

Shark Tank India judge Anupam Mittal slammed India’s real-money gaming ban as “moral policing dressed up as policy,” warning it could cost the government billions in tax revenue while pushing users toward black markets.

In a post on Linkedin, Mittal criticized the move to outlaw real-money games, comparing it to ineffective bans on products like gutka. “We banned gutka but have people stopped chewing?” he asked, before outlining the industry's massive economic footprint.

Mittal claimed the sector generated ₹27,000 crore in GST, over ₹10,000 crore in advertising revenue, and provided “thousands a legit livelihood in games of skill.” He argued that addiction and financial harm, while real, are insufficient grounds for a full prohibition. “Do we ban alcohol because some become alcoholics? Do we ban stock trading because some blow up their savings?” he wrote.

According to Mittal, bans tend to backfire: “Govt loses revenue. Users lose protection. Black markets win.” He cited a reported ₹8.3 lakh crore illegal gaming market as evidence of the risks.

In the short term, he said, the policy “feels like we’ve shot ourselves in the foot.” While holding out hope that e-sports and skill-based platforms might benefit in the long run, Mittal questioned the intent behind the crackdown. “Let’s be honest,” he wrote, “right now it looks like moral policing dressed up as policy.”

He ended with a jab at government overreach: “Hope we’re not trying to out-ban China.”

Source - Business Today

22/08/2025

Apple will open its newest retail store, Apple Hebbal, on September 2, 2025. This will be the company’s third Apple Store in India, after Apple BKC in Mumbai and Apple Select City Walk in Saket, Delhi, which opened in 2021.

The barricade for the store was revealed this morning, featuring artwork of vibrant peacock feathers — a nod to India’s national bird and a symbol of pride. The design sets the tone for the store’s arrival in Bengaluru, where Apple is continuing to expand its physical retail presence.

Inside, Apple Hebbal will offer the full product lineup along with support from Specialists, Geniuses, Creatives, and Business teams. The store will also host Today at Apple sessions — free workshops covering everything from digital art and storytelling to productivity and coding.

Ahead of the launch, Apple has released exclusive Hebbal-themed wallpapers and a Bengaluru-inspired Apple Music playlist, both available on the company’s official website: apple.com/in/retail/hebbal.

We’ll be on the ground in Bengaluru on opening day to cover the store’s launch from the first look inside to the atmosphere outside so stay tuned for updates.

Source - The Economic Times

expansion

19/08/2025

Quick commerce platform Zepto has collaborated with The House of Abhinandan Lodha to offer land plots in 10 minutes, seemingly. The real estate player announced the collaboration in a recent ad campaign.

The advertisement, released around the festival of Janamasthami, shows sprawling land plots and ends with a delivery partner carrying a visual representation of those plots. The ad film carries the tagline: “This Janmashtami, reimagine land investments, with India’s largest branded land developer, The House of Abhinandan Lodha and Zepto.”

It could not be confirmed whether Zepto would only act as a showcase for The House of Abhinandan Lodha, or offer land plots on its behalf, similar to real estate platforms like 99acres and MagicBricks.

We have written to Zepto for more information. The story will be updated with their response once we receive it.

In February, Zepto had partnered with Czech carmaker Skoda in India to offer test drives for the latter’s compact SUV, Kylaq. The tie-up was misconstrued as Zepto offering to deliver the car within 10 minutes, which was later refuted by Zepto cofounder Aadit Palicha.

The quick commerce platform has been trying to prepare the ground for its India listing. It secured a Rs 400-crore investment from Motilal Oswal Financial Services in a bid to boost its Indian shareholding before filing for an initial public offering.

The round, part of a broader Rs 1,000 crore deal, valued Zepto at around $5.4 billion, or around Rs 47,298 crore, a person familiar with the development told ET.

Separately, Zepto is in the process of closing a primary round led by existing investors General Catalyst and Avenir Growth. This would also include a Rs 1,500 crore by Zepto's founders, for which they are raising debt from Edelweiss Alternative Asset and domestic family offices, and smaller credit funds.

Source - The Economic Times

19/08/2025

Sam Altman-led OpenAI launched ChatGPT Go on Tuesday, a low-cost subscription plan specifically designed for Indian users, featuring enhanced message limits, image generation, file uploading capabilities, and chat memory. These features, supported by the company’s latest model, GPT-5, will also offer enhanced support for local Indian languages, the company said in a press release.

The new subscription plan will cost Rs 399 per month, with the option for users to make payments through the Unified Payments Interface (UPI).

“ChatGPT Go is designed for people in India who want greater access to ChatGPT’s advanced capabilities at a more affordable price,” OpenAI said in its release.

Currently, users in India can purchase the ChatGPT Plus subscription for Rs 1,999 per month and the ChatGPT Pro subscription for Rs 19,900 per month.

“We’ve been inspired by how millions of people in India use ChatGPT daily for learning, work, creativity, and problem-solving,” Nick Turley, Vice-President and Head of ChatGPT at OpenAI, said.

The latest offering in India aligns with Altman’s comments that the company would launch more products and services designed specifically for the country.

India, currently the second-largest market for ChatGPT, may soon become the company’s largest market globally, given the rapid growth OpenAI has seen in the country, Altman said at the launch of GPT-5.

“What the citizens of India are doing with ChatGPT is really remarkable, the way it is being integrated into people’s lives and businesses, starting new companies. We are especially focused on bringing products to India, working with local partners to make artificial intelligence work great for India,” he said.

Earlier this year, in February, Altman had said during his visit to India that the number of ChatGPT users in the country had tripled during 2024. In May, OpenAI announced that the data of Indian ChatGPT Enterprise, ChatGPT Edu, and OpenAI API platform users would be stored locally in the country.

Source - Business Standard

19/08/2025

Nikhil Kamath, co-founder of investment platform Zerodha, on Monday announced his investment of ₹137.5 crore in Goldi Solar, a solar photovoltaic (PV) module manufacturing company. With this investment, Goldi Solar plans to expand its production capacity and strengthen its position as a leading global renewable energy manufacturer.

Backing India’s clean energy transition

Commenting on the investment, Kamath said, “Renewable energy in India is a massive sector, and there is an equally massive opportunity to build global-scale companies right here on our home ground. It is imperative that we back these companies to accelerate the country’s clean energy transition.”

Over the past 12 months, Goldi Solar has nearly tripled its solar PV module manufacturing capacity from 3 gigawatts (GW) to 14.7 GW. The company is also developing solar cell manufacturing facilities in Surat, Gujarat. It plans to continue introducing high-efficiency solar PV modules and cells using emerging technologies to meet India’s growing clean energy requirements.

Company background and leadership

Headquartered in Surat and founded in 2011 by Ishverbhai Dholakia, Goldi Solar is among India’s largest solar module manufacturers. It is now expanding into large-scale solar cell manufacturing to serve both domestic and export markets.

The investment comes at a time of rapid growth in domestic solar demand, backed by government targets of 280 GW of solar power by 2030. Import duties on foreign modules and incentives for local manufacture₹under the Production Linked Incentive (PLI) scheme are also driving expansion in India’s solar manufacturing sector.

Source - Business Standard

14/08/2025

Ride-hailing platform Rapido has launched its standalone mobile application, Ownly, marking its entry into the food delivery segment.

Currently, the app is servicing select areas, including Koramangala, HSR, and BTM Layout. The newly launched app will compete with the likes of Swiggy, Zomato, and Magicpin.

The launch comes just a few months after Rapido and the National Restaurants Association of India (NRAI), which claims to represent over 50,000 eateries, started conversations to finalise terms and conditions (T&C) for bringing restaurant partners on the platform.

NRAI had said that, given that Swiggy and Zomato charge high commissions, the association is actively exploring a third alternative.

Source - Business Standard

14/08/2025

Premium electric motorcycle manufacturer Ultraviolette on Tuesday said it has secured USD 21-million in a funding round with strategic investment from deep tech investor TDK Ventures.

TDK Ventures is the corporate venture capital arm of Japanese firm TDK.

"The investment round of USD 21-million saw strategic participation from TDK Ventures and strong continued backing from existing investors Zoho Corporation and Lingotto (previously Exor Capital) among other leading institutional investors," Ultraviolette said in a statement.

Other investors in Ultraviolette include Sriharsha Majety (co-founder & CEO, Swiggy), Ankit Nagori (co-founder, Cure Foods; former Chief Business Officer, Flipkart), Aprameya Radhakrishna (Co-founder, TaxiForSure), and actor Dulquer Salmaan, the company said.

The partnership with TDK Ventures represents a pivotal step in Ultraviolette's mission to develop and scale globally competitive performance-oriented EVs, it stated.

"We look forward to bringing our TDK Goodness to Ultraviolette and their ambitious plan to design the next generation of energy efficient and performance EV 2W platforms," said Ravi Jain, Investment Director of TDK Ventures.

Ultraviolette said it is now scaling up manufacturing, accelerating research, expanding its distribution network, and bringing its product portfolio to global markets.

"Our partnership with TDK Ventures fast forwards our efforts, from advanced battery platforms to intelligent vehicle systems. This collaboration not only accelerates our vision of future ready mobility but also reinforces our commitment to delivering electric vehicles that are aspirational and globally relevant," said Narayan Subramaniam, Co-founder and CEO of Ultraviolette.

In late 2023, TDK Ventures launched its Bengaluru Innovation Hub to empower India's exceptional entrepreneurs to scale their technologies globally by leveraging its expertise in nurturing deep-tech startups around the world, as per the statement.

Source - The Economic Times

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