Page 3 - India Startup

Reloy's revenue up 65% to Rs 21 cr in FY24, referral sales hit Rs 1,450 cr

HDFC Capital-backed proptech startup Reloy, which helps builders in generating referral sales, has posted a 65 per cent growth in its revenue last fiscal to Rs 21 crore on strong housing demand. The company's revenue stood at Rs 12.7 crore in the 2022-23 fiscal. "Our growth is on account of higher referral sales and client acquisitions," Reloy founder and CEO Akhil Saraf told PTI. "We helped builders in generating Rs 1,450 crore worth of referral sales in the last fiscal," Saraf said. The company has set a target to generate Rs 3,500 crore worth of referral sales in the current fiscal. Founded in 2015, Reloy has been specialising in real estate loyalty and referrals. It is a B2B2C homeowner and broker management platform that helps builders manage their builders and brokers more efficiently. Reloy has so far raised Rs 13 crore from various investors, including HDFC Capital, which owns around 10 per cent stake in the startup. Last year, it raised Rs 7.2 crore from investors to ex

Stockify: The Bootstrap Success Story of a Fintech Startup

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Investors, once eager to pump in billions in Indian startups, losing steam

In January and February, India's startups raised about $900 million - a pace that signals another slow year after a six-year low of just $8 billion in 2023, Venture Intelligence data shows

India will have an upper hand in AI: PM Modi at Startup Mahakumbh

The prime minister Modi said that he is making use of AI technology for his election campaign

Routematic bets on artificial intelligence to tap corporate commuters

Benguluru-based corporate commute start-up Routemataic is set to transform corporate transport by focussing on individual commuter needs

Google-backed space startup Pixxel set to launch 6 satellites from June

This comes almost a year after the Alphabet-owned company became part of a $36-million funding round for the Indian satellite-image startup

Byju's fights back: Investors have no voting rights on CEO change

The edtech company responded to statements from select investors calling for an extraordinary general meeting (EGM) to replace founder and group CEO Byju Raveendran

SoftBank to resume investing in Indian startups after 18-month hiatus

SoftBank is now actively pursuing investments in new-age enterprises and expanding its portfolio in India

Majority of Indian startups eyeing IPOs in 2024 struggle with losses

Of the 12 startups looking to launch IPOs this year, eight have incurred a cumulative loss of Rs 8,000 crore, including Swiggy, and Ola Electric

Agritech startup Fasal raises Rs 100 cr from investors to expand business

Agritech startup Fasal, which is into precision horticulture, on Friday said it has raised Rs 100 crore from investors to expand its business. Founded in 2018, Fasal leverages AI, crop sciences, and Internet of Things (IOT) to provide farm-level, crop-specific and crop-stage-specific intelligence, enabling resource optimisation and higher farm productivity. It also procures high-quality, traceable produce for an end-to-end optimised value chain play. In a statement, the company announced raising Rs 100 crore in its series-A funding round led by TDK Ventures and British International Investment (BII), with contributions from the ITI Growth Opportunities Fund, Navam Capital and Aureolis Ventures. The round also saw participation from all existing investors, including 3one4 Capital, Omnivore, Wavemaker Partners, Genting Ventures, and The Yield Labs Asia Pacific. Fasal plans to "allocate the funds to advance research and development, accentuating innovation in their proprietary farm ..

Proptech startup HouseEazy raises $1 million from investors as seed funding

HouseEazy, a vertical marketplace for resale homes, on Tuesday said it has raised USD 1 million (over Rs 8 crore) from investors as seed funding led by Antler. Other notable investors in the round include India Accelerator, AC Ventures, Agility Ventures, Finvolve Ventures and industry veterans like Pirojsha Godrej (Executive Chairperson at Godrej Properties) and Sandeep Aggarwal (Founder at Droom), the company said in a statement. Seeking to bring trust, transparency and convenience to secondary real estate transactions, HouseEazy is building a full-stack, data-driven technology platform to provide the best prices and instant liquidity to sellers and title-checked, refurbished, ready-to-move-in homes to buyers. HouseEazy founders Tarun Sainani and Deepak Bhatia, who previously worked together at Godrej Properties, bring over 25 years of combined experience in the real estate industry. According to Housing.com data, proptech companies have received USD 4 billion in funding since 200

AI startups that help fight cancer, fraud picked for Google accelerator

20 companies will be mentored for solutions that 'positively impact various industries and transform lives', says tech giant

Stars align for astrotech: Astro startups' revenues get festival fillip

Despite an apparent dip in investments, several firms have reportedly been in talks to raise fresh capital this festival season

Edtech firm Unacademy appoints Sandhydeep Purri as chief people officer

Before joining Unacademy, Purri held the position of chief people officer at Sapphire Foods, overseeing HR strategies for brands like Pizza Hut and KFC

Banking fintech MobiKwik posts second quarter of PAT at Rs 5 crore

The Gurugram-based fintech has a registered base of 140 million users and over four million merchants

Indian startup funding hits 5-year low in Q3 2023 at $1.5 bn: Tracxn

The quarter saw five funding rounds cross the $100 million mark, including the likes of Perfios, Zepto, Ola Electric, Ather Energy and Zyber 365

Razorpay acquires digital invoicing, customer engagement startup BillMe

With this acquisition, Razorpay will get access to BillMe's client base of over 4,000 merchants

Green shoots of profitability finally emerging among Startups in India

Many companies such as Zomato, Meesho, and MobiKwik have now turned profitable while others like Paytm, Delhivery, and Zepto have showcased a clear path to profitability

Byju's accuses lenders of manufacturing fake debt crisis to extort money

The company chalks up its current debt predicament to aggressive distressed-debt investors who, in its view, were never supposed to be able to buy the loan

Gaming unicorn Mobile Premier League goes into global expansion mode

MPL recently launched its app in Nigeria, marking its first foray into the African gaming market. With this move, MPL is now present on four continents: Asia, North America, Europe, and Africa