Page 2 - Indian Startup Factory

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

Startup Mahakumbh 2024: A rite of passage for India's innovators

Startup Mahakumbh is expected to host more than 1,000 startups, as many investors, 50 unicorns, 500 incubators and accelerators, 5,000 delegates from 23 countries, and 50,000 business visitors

Piyush Goyal to meet 40 unicorn startups including Zerodha, Boat, Lenskart

Commerce and Industry Minister Piyush Goyal will hold discussions with senior representatives of 40 unicorn startups like Lenskart, Zerodha, and Boat here on Wednesday, an official said. Issues which will figure in the deliberations include ways to further promote sustainable growth of the sector, risks, domestic capital mobilisation and position India on the global startup landscape, the official said. Startup firms valued over USD 1 billion are categorised as unicorns. "Unicorns from different sectors and cities will be there. The sectors which would see participation include fintech, e-commerce and logistics," the official added. The other firms who would attend the meeting include CarDekho, and EasyMy Trip. The government has taken a series of steps to promote the startup ecosystem in the country. Over 1.17 lakh startups are recognised by the government. They are eligible to seek certain tax incentives. The Startup India initiative was launched by the Prime Minister Narendra

Byju's puts Epic, Great Learning on sale to raise $800 million-$1 billion

Byju's is hoping to earn between $400-$500 million from the sale of Epic, which is a US-based kids' learning company

Indian debt collection startup raises $50 million from Accel, Westbridge

Lenders are looking for efficient ways to communicate with borrowers and collect payments, a task that becomes more onerous in countries such as India that are experiencing rising credit growth

Arkam Ventures launches second fund with a target corpus of $180 mn

Through the fund, the firm will make investments in Series A and Series B start-ups, with a focus on emerging sectors like electric vehicles and manufacturing technology

Physis Capital announces first close of $50 mn fund for start-ups

Fund aims to build a portfolio of 15-20 start-ups, with an average ticket size of $2.5 million

Indian consumer tech sees huge value creation with $250 bn in valuation

The last five years have seen 4,351 consumer tech deals and $54 billion in deal flows in India, a new report has shown, adding that the Indian consumer tech space

GoMechanic Business acquired by a consortium led by Lifelong Group

According to sources, there is no clarity on what happens to the founders

As cost of capital rises, VC funding for new-age firms drops to $26 bn

The global economic downturn has made investors reconsider their commitments towards the deployment of capital into new-age firms

Mahanaaryaman Scindia expects MyMandi to turn profitable by Dec 2023

Gwalior's royal family scion Mahanaaryaman Scindia, whose name speaks volumes, has shed his legacy and ventured into building his own empire from scratch through startup MyMandi, which he expects to turn profitable in about one-and-a-half years of its business commencement. By combining his lineage of public service, lessons of creating social impact by grandfather late Madhavrao Scindia and wisdom acquired during work at global firms Boston Consulting Group and Softbank Group, 27-year-old Scindia and his firm's co-founder Suryansh Rana, 25, zeroed in on a common passion of working in agriculture sector, cut down on waste of fresh produce and logistic costs. Founded in 2022, MyMandi began operations from Gwalior where Scindia himself goes into local mandis, with a covered face to conceal his identity, for procuring fresh produce and sell the inventory to the firm's last mile delivery partners -- street vendors and cart pushers community. The formula of their venture has led to a ...

RoC to check GoMechanic's books amid allegations of irregularities: Report

According to the Companies Act, Section 264 (4), the RoC has the authority to conduct an inquiry into the affairs of a company in line with directions from the Ministry of Corporate Affairs (MCA)

Business bites: How have winners of Shark Tank India 1 fared so far

A year later as season 2 begins, start-ups that 'sharks' invested in vouch for marketing gains from it but only a few have raised funds subsequently

58% of govt-recognised start-ups centred in 5 states; Maharashtra tops list

Nearly 58 per cent of the government-recognised start-ups are confined to just five states in the country

Waiting for a thaw: Four charts give a peek into the funding winter

The other trend was acquisitions. Many acquired to expand rather than invest to grow organically. Of course, this period did not see a single unicorn

Start-up Odisha growth fund gets Rs 1,000 cr commitment, disbursal in 5 yrs

Flags off Hall of Fame 2.0 with TiE Bhubaneswar

India's startup sector sees 80% drop in Q3 funding, slowdown to continue

The funding in Indian startups nosedived a massive 80 per cent (year-on-year) in the third quarter (July-September period) this year, with the late stage funding seeing the biggest fall

Agritech start-up Otipy to hire 250+ people including 100 freshers

/ -- Delhi/NCR-based agri-tech startup Otipy operated by Crofarm is planning to hire more than 250+ employees this fiscal. The company is looking for fresh talent across various departments including Sales & Marketing, Data & Analytics, Technology, Product Management, Operations & Supply chain, Procurement, etc. As a fast-growing company, the startup is expanding its operations to different parts of the country and has mapped out a plan to generate employment opportunities for freshers as well as seasoned professionals through job aggregators and direct applications. Otipy is a young organization with a workforce of 400+ employees, the start-up has recently added young, energetic, and sharp talent across functions from different groups of institutions/ colleges along with experienced employees and with this announcement the company looks forward to adding more talent in the coming days. In light of the current hiring process, Mr. Varun Khurana, Founder & CEO of Otipy ..

John Abraham, others invest Rs 4 crore in icecream maker NOTO

Actor John Abraham and a clutch of venture capital (VC) funds have invested Rs 4 crore in NOTO, the low-calorie and high-protein icecream brand said on Tuesday

Govt to scale up network of incubators, accelerators to spur start-ups

Government is committed to scaling up the network of incubators and accelerators massively over the next three years, Minister for Electronics and IT Ashwini Vaishnaw said on Tuesday