Indian Startup Times

CRED Launches New Financial Management Platform, CRED Money In a significant move to enhance personal finance management, CRED has unveiled its latest offering: CRED Money. This cutting-edge platform allows users to consolidate and manage their financial information by integrating balances and transactions from multiple bank accounts, wallets, and UPI IDs into a single, user-friendly interface. Key Features of CRED Money: Comprehensive Financial Overview: View and manage all financial accounts in one place. Secure Data Sharing: Built on the account aggregator framework, ensuring encrypted and secure data sharing. Efficient Tracking: Easily trace forgotten investments, and tax refunds, and streamline recurring payments like SIPs and insurance policies. Enhanced Insights: Analyze spending patterns and track transactions across various financial instruments. With this launch, CRED continues to expand its suite of financial tools, following the introduction of its UPI-based payment service and the vehicle management platform Garage. The company's strategic acquisition of Kuvera earlier this year further underscores its commitment to offering comprehensive financial solutions. Experts believe CRED Money will provide users with deeper insights into their financial habits and enhance targeted offerings. This move reflects the growing digitalization of India’s financial sector, presenting new opportunities for effective financial management. On the UPI Front: CRED UPI has emerged as a notable player in the market, processing a significant volume of transactions and positioning itself as a key competitor in the digital payments space. Stay tuned for more updates on how CRED is reshaping the future of personal finance! Read More: https://lnkd.in/gS7kb22u #CRED #FinancialManagement #CREDMoney #Fintech #DigitalFinance #PersonalFinance #FinancialTools #WealthManagement #UPI #Innovation #FinanceNews

Neo Wealth and Asset Management Raises Rs 32 Crore in Fresh Capital from Private Placement Mumbai-based wealth and asset management firm, Neo, has successfully raised Rs 32 crore (nearly $4 million) through private placement, marking its first investment round of 2024. Key Investors: Morde Foods Pvt. Ltd.: Rs 20 crore SN Damani Developers: Rs 10 crore BridgeMonte Advisors Pvt. Ltd.: Rs 2 crore Following the investment, Morde Foods holds a 1.48% stake in Neo, while SN Damani Developers and Bridgemonte Advisors hold 0.74% and 0.15% stakes respectively. Neo, founded by Nitin Jain, provides advisory and yield-based investment solutions to some of India's top billionaires. The company boasts over $3 billion in assets under advisement (AUA) and $360 million in assets under management (AUM). In the fiscal year ending March 2023, Neo reported a 9X increase in revenue to Rs 65.1 crore, with a minor loss of Rs 3.6 crore. The company has yet to file its annual report for FY24. This latest funding round, which includes a $35 million Series B round led by Peak XV Partners XV (formerly Sequoia Capital) in October last year, brings Neo’s total funds raised to around $78 million. Stay tuned for more updates! Read More: https://lnkd.in/grrVNTii #NeoWealth #Investment #Fundraising #PrivatePlacement #WealthManagement #AssetManagement #Mumbai #FinancialGrowth #PeakXV #SequoiaCapital #FinanceNews #InvestmentNews #BusinessNews

Nasher Miles Raises $4 Million in Bridge Round! Nasher Miles, the digital-first luggage brand, has secured $4 million in a bridge round to Series A, with investments from Singularity Early Opportunities Fund, Narendra Rathi (SoftBank Vision Fund), Sulabh Arya (Goldman Sachs Growth Equity), and Mohit Goyal (CVC Capital Partners), among others. This round values the Mumbai-based startup at $30 million post-money. Earlier this year, Nasher Miles gained significant traction by raising funds for Shark Tank India Season 3, achieving a valuation of Rs 200 crore ($23.8 million). The newly raised funds will fuel the company's ambitious expansion plans, including: Expanding offline presence to 1,000 multi-brand outlets across India by year-end Opening 3-5 exclusive brand outlets within this financial year Strengthening quick commerce in select cities Increasing domestic manufacturing capacity to 70-75% by December 2024 Founded in 2017 by Shruti Kedia Daga, Lokesh Daga, and Abhishek Daga, Nasher Miles offers a diverse range of travel bags and luggage, from corporate backpacks to customized accessories. The company has rapidly scaled its distribution network, with over 20 distributors and a presence in 150 stores nationwide, projecting its offline channel to generate $12 million in revenue next year. Exciting times ahead for Nasher Miles as they continue to innovate and expand in the competitive luggage market! Read More: https://lnkd.in/gxKbzHSg #NasherMiles #FundingNews #StartupSuccess #LuggageBrand #SeriesAFunding #Investment #ExpansionPlans #Ecommerce #RetailGrowth #SharkTankIndia #IndianStartup

Thyrocare Technologies Ltd. Acquires Polo Labs’ Pathology Diagnostics Business Thyrocare, a leader in diagnostic and preventive healthcare services, has strategically acquired the pathology diagnostics business of Polo Labs. This acquisition aims to bolster Thyrocare’s presence in northern India, aligning perfectly with its expansion strategy. Thyrocare, which was acquired by API Holdings in June 2021 for $613M, continues to grow its footprint with this latest move. Polo Labs, known for its affordable and accessible diagnostic services across Punjab, Haryana, Himachal Pradesh, and Jammu & Kashmir, brings 14 state-of-the-art laboratories into the Thyrocare network. Founded by Dr Velumani Arokiaswamy, Thyrocare is committed to providing high-quality diagnostic reports at affordable costs, with a presence in over 2,000 cities worldwide. This acquisition is set to enhance their diagnostic capabilities and extend their reach, ensuring better healthcare accessibility across India. Stay tuned for more updates on this significant development in the healthcare sector! Read More: https://lnkd.in/g2CW3nUb #Thyrocare #PoloLabs #Healthcare #Diagnostics #Pathology #Acquisition #NorthernIndia #APIHoldings #MedicalTechnology #HealthcareExpansion #HealthNews #MedicalIndustry

Bollywood Star Preity Zinta and Cricket Sensation Shubman Gill Join Forces as Co-Founders of DriveFITT Gym Chain! We are excited to announce that Preity Zinta and Shubman Gill have teamed up as co-founders of DRIVE FITT, a revolutionary gym chain set to transform the Indian fitness market. Launched by Mark Sellar and Deke Smith, DRIVE FITT will offer a unique blend of cricket training facilities, yoga studios, and comprehensive strength and cardio training. Key Highlights: Launching the first facility in Gurugram this October, with a second location in Noida scheduled for November. Aiming to establish 300 franchises across India in the next three years. Membership options include daily passes, monthly, quarterly, half-yearly, annual, and family memberships. Nikhil Kakkar, former COO of Gold’s Gym, joins as COO to spearhead operations and franchising. With the Indian fitness market projected to reach $9.5 billion by 2025, DRIVE FITT is poised for tremendous growth and success. Stay tuned for more updates on this exciting journey! Read more: https://lnkd.in/gM6_unbq #Fitness #Health #Wellness #DRIVEFITT #PreityZinta #ShubmanGill #Gym #CricketTraining #Yoga #StrengthTraining #Cardio #Franchise #Gurugram #Noida #FitnessIndustry

Acko Acquires HealthTech Innovator OneCare in All-Cash Deal! Exciting developments in the health tech and insurtech sectors! Acko has just acquired digital chronic care management company OneCare in an all-cash deal, marking a significant step in Acko’s journey to becoming a comprehensive healthcare provider. With this acquisition, Acko aims to build a holistic healthcare ecosystem, extending its services from protection to prevention, care, and recovery. OneCare's unique omnichannel care model, which combines advanced wearables, data-driven insights, and accessible physical and virtual care teams, will now be integrated into Acko's offerings. Dr. Rakesh Shivran and Sagar Bhat, co-founders of OneCare, will join Acko’s leadership team, bringing their extensive experience in health-tech services. This strategic move aligns with Acko’s commitment to innovation and enhancing customer care. Acko is already a leader in embedded insurance products, partnering with major players like OYO, redBus, Zomato, HDB Financial Services, and Urban Company. With over 78 million customers and over 1 billion insurance policies issued, Acko continues revolutionising the insurance and healthcare landscape. Stay tuned for more updates as Acko and OneCare embark on this transformative journey together! Read More: https://lnkd.in/gQ5wdNcy #Acko #OneCare #HealthTech #Insurtech #Acquisition #HealthcareInnovation #ChronicCareManagement #DigitalHealth #WearableTech #CustomerCare #InsuranceIndustry #HealthcareEcosystem

In a significant development in the education sector, the Ranjan Pai-led Manipal Group has secured approval from the Competition Commission of India (CCI) to acquire a substantial stake in Aakash Institute, which is currently owned by EdTech giant Byju's. This strategic acquisition is set to bolster Manipal Group's presence in the education market, leveraging Aakash Institute's robust coaching network and extensive reach. Aakash Institute, known for its comprehensive coaching programs for medical and engineering entrance exams, is expected to benefit from Manipal Group's expertise and resources, potentially enhancing its educational offerings and expanding its market footprint. The collaboration aims to provide enhanced learning experiences and improved educational outcomes for students across India. Industry experts anticipate that this move will further intensify competition in the education sector, driving innovation and improving the quality of educational services. Stay tuned for more updates and detailed analyses on the implications of this acquisition for the stakeholders involved and the broader education industry. AAKASH INSTITUTE BYJU'S Manipal Institute of Technology #ManipalGroup #Byjus #AakashInstitute #EducationNews #EdTech #RanjanPai #CCIApproval #EducationSector #BusinessNews #StrategicAcquisition #EducationInnovation #Learning #EducationRevolution #EdTechNews #EducationUpdate

In its first-quarter financial results, Go Digit has reported a remarkable performance with a profit surge of 74% year-on-year, reaching INR 101 crore. The company's Gross Written Premium (GWP) also saw a significant increase, jumping to INR 2,660 crore. This impressive growth is attributed to Go Digit's strategic initiatives and strong market presence, further solidifying its position in the insurance sector. The substantial rise in GWP indicates a growing customer base and effective business operations. These results highlight Go Digit's robust financial health and its ability to adapt and thrive in a competitive market. Stakeholders and investors can look forward to continued growth and success in the upcoming quarters. Kamesh Goyal Digit Insurance #GoDigit #FinancialResults #ProfitSurge #Q1Results #InsuranceSector #GWPIncrease #FinancialGrowth #BusinessPerformance #YearOnYearGrowth #InsuranceIndustry #QuarterlyResults #BusinessNews #FinancialUpdate #GrowthStory

CRED, the fintech company led by Kunal Shah, has introduced a groundbreaking new service aimed at revolutionizing personal finance management for its users. The latest offering enables customers to seamlessly manage their bank accounts and track their expenses all in one place. With this new feature, CRED aims to provide users with a comprehensive overview of their financial health, helping them make informed decisions about their spending and savings. The tool offers real-time insights into bank balances, categorizes expenses, and generates detailed reports, making it easier for users to monitor their financial activities and identify spending patterns. CRED's innovative approach leverages advanced technology and user-friendly design, ensuring a smooth and intuitive experience for its members. This addition to the CRED ecosystem reflects the company's ongoing commitment to enhancing financial literacy and empowering its community with the tools they need to achieve their financial goals. CRED Kunal Shah #CRED #KunalShah #Fintech #BankAccountManagement #ExpenseTracking #PersonalFinance #FinancialInnovation #MoneyManagement #TechInFinance #NewLaunch #CustomerExperience #FinanceApp #SmartSpending #FintechNews

Urban Company, the leading home services marketplace, has reported a revenue of Rs 827 crore for the fiscal year 2024, showcasing impressive growth. The company's losses have significantly narrowed to Rs 93 crore, reflecting a robust improvement in its financial health. This positive trajectory is attributed to Urban Company's expanding customer base and increased demand for its wide range of services, including home cleaning, beauty treatments, and appliance repairs. The company's strategic focus on enhancing service quality and customer satisfaction has paid off, contributing to its revenue growth and reduced losses. Urban Company continues to innovate and invest in technology to streamline operations and improve service delivery, positioning itself strongly in the competitive home services market. With this momentum, the company aims for profitability in the near future while maintaining its commitment to providing top-notch services to its customers. Urban Company Abhiraj Singh Bhal #UrbanCompany #RevenueGrowth #FY24Results #BusinessNews #StartupSuccess #TechStartup #FinancialPerformance #RevenueReport #LossReduction #IndianStartups #BusinessGrowth #StartupNews #FinancialUpdate