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Tag: Investment

  • Rahul Rajput takes the hot seat as VP–Investment at Dentsu India

    Rahul Rajput takes the hot seat as VP–Investment at Dentsu India

    MUMBAI: Dentsu India has elevated Rahul Rajput to vice president–investment, a move that cements his position as a key driver of the network’s media buying and planning muscle. The promotion comes after a one-year stint as associate vice president, during which Rajput steered the ship on high-stakes investment deals and cross-platform campaigns.

    Based in Gurugram, Rajput brings over a decade of experience to the role, including a six-year run at Dentsu Aegis Network as investment director and nearly three years at Mindshare, where he held the title of director–The Exchange. His career began at VivaKi and Havas Media, where he sharpened his chops as a media buyer.

    A self-described music enthusiast and natural networker, Rajput blends strategic thinking with people-first leadership. His mantra? “Everyone you meet has something to teach you.”

    With India’s digital and TV adex in flux, Dentsu’s bet on Rajput signals its intent to double down on smart, agile investment leadership in the months ahead.

  • Bose doubles down on Noise, pumps in $20 million

    Bose doubles down on Noise, pumps in $20 million

    MUMBAI:  Noise, the Indian gadget and wearables brand, has received a fresh $20 million injection from Bose Corp, marking a significant vote of confidence in its global aspirations. This second investment follows Bose’s initial backing in December 2023, solidifying their partnership and fueling Noise’s ambition to become a global tech powerhouse.

    “When Bose Corp backs you—not once, but twice—you know you’re onto something,” said Noise  CEO & co-founder Gaurav Khatri. “They came on board last year, backing our vision to push boundaries in audio and wearables. That belief gave us the push to level up. Now, they’ve doubled down with another $20 million investment. A clear sign they believe in what we’re building—out of India, for the world.”

    The new funding, structured as compulsory convertible debentures, will support Noise’s operational expenses, expansion plans, brand visibility, and working capital needs. This investment values Noise at approximately $470 million, a slight increase from its previous valuation.

    Noise, which primarily sells smartwatches and audio devices, reported a revenue of Rs 1,431 crore for the fiscal year ended March 2024. Despite a flat revenue compared to the previous year, the company experienced a net loss of Rs 20.1 crore.

    Bose’s continued investment underscores its belief in Noise’s potential to disrupt the global wearables market. Bose, known for its high-end audio products, brings not only capital but also expertise in product development, user experience, and global market strategy. This strategic partnership aims to accelerate Noise’s growth and enhance its product offerings.

    Noise, founded in 2014, has rapidly grown in the Indian market, competing with brands like boAt and Realme. With Bose’s backing, the company is poised to amplify its reach and establish itself as a major player on the international stage.

  • Swiggy to Invest Rs 1,000 Crore in subsidiary Scootsy Logistics

    Swiggy to Invest Rs 1,000 Crore in subsidiary Scootsy Logistics

    MUMBAI: : Swiggy’s board has approved an investment of up to Rs 1,000 crore in its wholly owned subsidiary, Scootsy Logistics, through a rights issue. The investment will be made in multiple tranches and is aimed at strengthening working capital and funding expansion initiatives.

    Scootsy Logistics specialises in supply chain services, including warehouse management, in-warehouse processing, and efficient order fulfilment for wholesalers and retailers. The company plays a critical role in streamlining logistics and ensuring seamless deliveries across India. The transaction qualifies as a related party deal but is conducted at arm’s length, with Swiggy maintaining its existing shareholding without further financial interest beyond this investment.

    Scootsy did a turnover of Rs 57,957 million in FY 2024; Rs 36,862 million in FY 2023 and Rs 15,803 million in FY 2022.

    Shares under the rights issue will be issued at Rs 7,640 each, including a Rs 7,630 premium, or at a price determined through valuation.

    Established in 2014, Scootsy has been a key logistics partner in India’s fast-growing e-commerce sector, offering scalable and efficient logistics solutions. Swiggy’s investment underscores its commitment to bolstering supply chain infrastructure, enhancing operational efficiency, and supporting future growth in the evolving digital commerce landscape.

  • Cineline India’s revenue from operations saw a 12.7 per cent steep decline

    Cineline India’s revenue from operations saw a 12.7 per cent steep decline

    Mumbai: Remember those carefree days when a weekend meant one thing—heading to the cinema, popcorn in hand, with family or friends by your side? Or the thrill of slipping out of a college lecture, knowing a movie adventure awaited? Those were the golden days of cinema. Yet, post-Covid, the big screen seems to have lost some of its allure, and Cineline India’s recent Q2 FY25 results tell a sobering story. Released today, the report reveals an industry grappling with the harsh realities of a shrinking audience base and mounting financial strain. For the quarter ending 30 September 2024, Cineline’s revenue from operations saw a steep 12.47 per cent drop, falling to Rs 5,583.66 lakhs from last year’s Rs 6,378.72 lakhs. As operational expenses climb and finance costs escalate, the road to profitability is riddled with challenges.

    The numbers reveal a company grappling with mounting expenses and shrinking profits. Total income for the quarter was Rs 5,617.60 lakhs, a decline from the previous year’s Rs 6,455.44 lakhs. Cineline’s movie exhibition cost—a significant operational component—reached Rs 1,583.38 lakhs, compared to Rs 1,931.11 lakhs last year. This reduction in costs was likely an attempt to mitigate the impact of lower revenues; however, it did not prove sufficient to offset other rising expenses. Notably, finance costs surged to Rs 727.95 lakhs, from Rs 716.53 lakhs in Q2 FY24, placing further pressure on profit margins.

    Cineline’s operating loss for continuing operations stood at Rs 607.30 lakhs, a sharp contrast to last year’s profit of Rs 702.36 lakhs. This swing into negative territory highlights Cineline’s current financial strain, driven by a combination of weaker income and heightened expenses. Although depreciation and impairment expenses rose to Rs 550.60 lakhs from Rs 489.09 lakhs, the overall expenses have grown notably, stressing the profitability margins.

    Further complicating Cineline’s financial landscape are discontinued operations associated with R&H Spaces Private Limited, its wholly-owned subsidiary classified as ‘Non-Current Assets held for sale’. This segment reported an after-tax loss of Rs 348.10 lakhs, exacerbating the company’s financial position. This negative outcome contrasts sharply with last year’s profit of Rs 15.51 lakhs, a downturn driven by market fluctuations and an inability to find prospective buyers swiftly enough to offset expenses.

    For stakeholders, Cineline’s Q2 FY25 results indicate an increasingly challenging environment in cinema exhibition. While the company has undertaken cost-cutting measures, the sharp decline in revenues and heightened financial costs have reduced the scope for quick turnaround. As Cineline aims to divest from non-core assets and consolidate its focus, the current financial constraints reflect a period of adjustment and realignment. However, the path to recovery may hinge on the company’s ability to attract new investment, manage rising operational costs, and secure strategic divestitures for better liquidity.

    Cineline India Q2 FY25 Financial Highlights:

    1.    Revenue Decline: Revenue from operations dropped by 12.47 per cent YoY to Rs 5,583.66 lakhs, down from Rs 6,378.72 lakhs in Q2 FY24.

    2.    Total Income: The total income stood at Rs 5,617.60 lakhs, a decrease from Rs 6,455.44 lakhs last year.

    3.    Operational Loss: Operating loss for continuing operations was Rs 607.30 lakhs, a reversal from last year’s profit of Rs 702.36 lakhs.

    4.    Increased Finance Costs: Finance costs rose to Rs 727.95 lakhs from Rs 716.53 lakhs in Q2 FY24.

    5.    Overall Profit/Loss: Net loss from continuing and discontinued operations was Rs 963.07 lakhs, reflecting the challenging operational environment.

     

  • Planet Marathi OTT secures $5M investment from A & MA Capital USA

    Planet Marathi OTT secures $5M investment from A & MA Capital USA

    Mumbai: After three years of operations, Planet Marathi OTT has announced a significant investment from a prominent USA-based private equity firm, A & MA Capital USA. The initial investment, totalling approximately $5 million, is expected to increase over the next two quarters. This transaction marks one of the largest investments in the regional Indian entertainment sector to date.

    Commenting on the investment, Planet Marathi OTT founder Akshay Bardapurkar stated “We are committed to growing the Indian regional entertainment space and with this significant investment we are prepared to bolster our offerings and content slate. As a company we stay dedicated to bringing the best quality entertainment on OTT and with our new partners we will take this dedication to newer heights”.

    In addition to the private equity investment, Dcafe, a globally renowned media-tech company, has also entered into a strategic agreement with Planet Marathi OTT, further strengthening its technological capabilities.

    “Partnership with Dcafe platform represents a significant milestone for us, solidifying our position in the tech-driven entertainment landscape,” Bardapurkar added.

    Planet Marathi OTT continues to pioneer in the Marathi entertainment industry, leveraging these strategic investments to bolster its content library and technological infrastructure.

    Established with a vision to expand the horizons of Marathi OTT and provide an exclusive platform for industry talent and stories on a global stage, Planet Marathi OTT has consistently delivered content that pushes boundaries and captures audience imaginations. Boasting a diverse array of genres including romance, comedy, family drama, politics, crime, thriller, and satire, the platform has redefined the landscape of Marathi content in the digital sphere. It is home to national award winning content like Goshta Eka Paithanichi and most watched web series Raanbaazaar.

  • Invest during muhurat trading with Angel One’s ‘Shagun ke Shares’

    Invest during muhurat trading with Angel One’s ‘Shagun ke Shares’

    Mumbai: Angel One, formerly known as Angel Broking, has returned with its ‘Shagun Ke Shares’ campaign this Diwali.

    This year, the fintech company is encouraging people to adopt ‘muhurat trading’ as a Diwali ritual and begin their journey of smart investments with Angel One.

    As part of the campaign, Angel One has released a digital film showcasing a young man investing during the Muhurat Hour on Diwali and asking people to make smart investments with Angel One for quick account opening, zero brokerage and smart recommendations. The company has also tied up with influencers from different genres and is leveraging the ICC Men’s T20 World Cup tournament to initiate the conversation around finance.

    Spreading out the message, Angel One chief growth officer Prabhakar Tiwari discusses ‘muhurat trading’ in a video message on his social media.

    According to Angel One, the top Diwali picks for this year include Federal Bank, Sona BLW, HCL Technologies, Stove Kraft, and Shobha, among others.

    Speaking about launching the “Shagun Ke Shares” campaign, he said, “For a long time, Muhurat Trading has been followed by just investors and traders. With an increasing population participating in the stock market, Muhurat Trading can be a good start for more people to hop on the bandwagon and turn it into, like all other Diwali rituals, something we are trying to do with our “Shagun Ke Share” campaign this year. The investment during the auspicious occasion is considered a sign of good fortune.”

    Adding to it, Angel One chief executive officer Narayan Gangadhar said, “India is a land of unique traditions. Even in the stock market, we have a tradition that is unique to us-‘muhurat trading.’ The muhurat hour marks the beginning of the financial year, and our state-of-the-art smart solutions can enable people to begin their investment journey on this auspicious occasion. We look forward to more people adopting to investing during the ‘muhurat trading’ hour this year.”

  • XtraCover announces appointment of Anirudh Singhania as its new chief technology officer

    XtraCover announces appointment of Anirudh Singhania as its new chief technology officer

    Mumbai: XtraCover, a new-age e-commerce platform catering to the lifecycle management services of smartphones and other electronic devices, has announced the appointment of Anirudh Singhania as its new chief technology officer (CTO) to strengthen the company’s technological prowess.

    Singhania has more than 25 years of experience in creating technology solutions, hatching growth strategies and leading high-performing software engineering teams. Prior to joining XtraCover, Anirudh was part of the founding team of Lulu and Sky Private Limited as the Chief Technology Officer. He also built dharma.h Software Technologies. Furthermore, he has worked with multiple tech startups from the stage of ideation to exit.

    Also read: Geo-targeted campaigns ramp up as brands go hyperlocal

    On the appointment XtraCover CEO & founder Soumitra Gupta commented, “As we prepare for our next stage of growth at XtraCover, we are thrilled to welcome Anirudh to our executive team. Anirudh’s extensive experience developing technology solutions and leading engineering teams in the IT and e-commerce space make him ideally suited to strengthen the company and drive growth to the XtraCover business.”

    In the new CTO role, Singhania will be responsible for integrating and advancing XtraCover’s technology platform. He will drive forward the technical vision for the business in delivering a range of after-sales services to buyers of refurbished electronic gadgets. His expertise in application development, artificial intelligence, machine learning, and digital marketing and strategy will help XtraCover accelerate technological and business growth.

    Commenting on his new role at XtraCover, Anirudh Singhania said, “I am extremely excited to contribute to the vision and opportunity to scale at XtraCover. XtraCover has a great culture and I am looking forward to leading and mentoring this team of talented people. My deep technical and leadership experience will enable me to build and execute strategies that propel the business and exceed the needs of our customers.”

    Launched in 2019, XtraCover is an e-commerce platform that caters to the lifecycle management services of smartphones and other electronic devices. Operating in the B2C and B2B2C segments, the company offers services such as price discovery and comparison for new appliances, warranty support, refurbished device warranty, accidental damage and protection and repair and refurbishment services, among others. The e-commerce platform aims to create awareness in the Indian ecosystem to make refurbished devices a valued choice, if not the first choice.

    Witnessing a paradigm shift in the market growth of refurbished products since the global pandemic, XtraCover has clocked a revenue of over Rs 100 crore in FY 2022. With an aim to continue this growth trajectory, the company intends to surpass the Rs 275 crore target revenue in FY 2023. Additionally, the e-commerce platform plans on increasing its global outreach through export-oriented units (EOU) in India.

  • Lightbulb.ai raises $1.5 mn in pre-seed funding round from investors

    Lightbulb.ai raises $1.5 mn in pre-seed funding round from investors

    MUMBAI: Lightbulb.ai, an emotion AI and engagement analytics platform has raised a pre-seed funding round of $1.5 million from investors Chiratae Ventures and 9Unicorns. The other investors participating include Anthill Ventures and AI-led video-editing company, VideoVerse. The funds raised by this early-stage start-up will be deployed to deepen the datasets for their machine-learning technology & expand the product offering of emotion and engagement insights gathered from a user’s video, audio and speech inputs for a variety of industries. 

    Lightbulb is the brainchild of second-time entrepreneurial trio – Ritu Srivastava, Yogesh Sachdeva and Vishal Soni – who have earlier built and exited Obino, a digital health & weight-loss coaching start-up, that offered health-management solutions across a variety of health conditions. Their successful exit to US-based health conglomerate Roundglass Partners in 2017, paved the way for their next venture. With a minimum viable product (MVP) launch in late 2021, Lightbulb has had an opportunity to validate its product and market hypotheses before zeroing in on its go-to-market (GTM) plans.

    With four patents already in the pipeline and datasets spanning millions of faces across geographies and ethnicities, Lightbulb aims to help businesses that offer remote user experiences, to solve for higher engagement by mapping user emotion & engagement in real-time! From analysing user engagement during live meetings/calls to researching the emotional impact of pre-recorded content and asynchronous user experiences on consumers, Lightbulb offers nuanced solutions that are relevant to industries such as online learning, sales enablement and consumer research. 

    With insights from early customers pouring in, Lightbulb is fast-tracking growth on its multi-modal product & this early-stage capital infusion will help accelerate Lightbulb.ai in building its product & engineering teams, particularly in the fields of data science, machine learning and consumer insights and prepare itself for an early launch in the US market. The company was exclusively advised on this transaction by PepperTree, an advisory firm run by ex-bankers Akshi Mehta & Ankur Goyal.

    Lightbulb.ai co-founder and CEO Ritu Srivastava said, “We are privileged to be supported by some of India’s most prestigious early-stage institutional investors, with vast experience in helping deep-tech B2B SAAS companies build & scale global products in international markets. And are deeply grateful for the trust that they have placed in us at this early stage!” 

    Co-founder & CPO Vishal Soni said, “Customer decisions are emotional & not rational! Since current feedback modes are post-facto, by the time actionable intelligence reaches decision makers, opportunities are lost. Lightbulb enables businesses to measure emotion data & transmit actionable insights to decision-makers in real-time, helping them acquire and retain better.”

    Co-founder & CTO Yogesh Sachdeva said, “Our focus is now on developing a powerful platform that can power significant value-adding emotion ai products with high accuracy levels across ethnicities and age groups & applicability across multiple industries.”

    “Leveraging an intelligent emotion recognition platform through video interaction, Lightbulb is leading the next wave of innovation in this space. We are excited to partner with the founding team at Lightbulb, as they disrupt leading industries like education, banking, mental wellness etc,” said Chiratae Ventures India Advisors founder & chairman Sudhir Sethi.

    9Unicorns Accelerator Fund co-founder & managing director Dr Apoorva Ranjan Sharma said, “While emotion ai is at a nascent stage, it is an exponentially growing technology with a wide variety of use-cases across multiple industries. Lightbubl.ai holds the potential to be relevant across multiple market verticals and that is a strong indicator of how valuable the company will be in the future. As the world becomes more chaotic, the importance of emotion AI will only grow. We are excited to support the team as they enhance the accessibility and utility of emotion AI.”

    “We are excited to support Lightbubl.ai at this stage of its growth trajectory. They have shown great promise so far and we are deeply interested in the solutions that they are building for media and consumer research markets. Media tech is an explosively growing field and we are sure that Lightbulb will be able to make a clear space for itself in this market and scale with speed!”, said Anthill ventures CEO Prasad Vanga.

    “As a company that also harnesses the power of AI, we recognise the potential that emotion AI has as a technology. We are thrilled to be a part of this journey and are confident the team will build a long-term product solution with strong fundamentals,” said Videoverse strategy lead Siddhant Bhandari.

  • Binance Labs closes $500 mn investment fund to boost crypto, web3 and blockchain adoption

    Binance Labs closes $500 mn investment fund to boost crypto, web3 and blockchain adoption

    Mumbai: Crypto exchange Binance’s venture capital and incubation arm Binance Labs on Wednesday announced the closing of a new $500 million investment fund. The fund is supported by leading global institutional investors such as DST Global Partners, Breyer Capital, as well as other major private equity funds, family offices, and corporations as limited partners.

    The new fund will be invested in projects to boost the use of blockchain, web3, and value-building technologies.

    Binance founder and CEO Changpeng Zhao said: “In a web3 environment, the connection between values, people, and economies is essential, and if these three elements come together to build an ecosystem, that will accelerate the mass adoption of the blockchain technology and crypto. The goal of the newly closed investment fund is to discover and support projects and founders with the potential to build and to lead web3 across DeFi, NFTs, gaming, metaverse, social, and more.”

    Since 2018, Binance Labs has invested in and incubated more than 100 projects from over 25 countries. Its portfolio includes industry-leading projects such as 1inch, Audius, Axie Infinity, Dune Analytics, Elrond, Injective, Polygon, Optimism, The Sandbox, and STEPN.

    Binance Labs makes investments across three different stages: incubation, early-stage venture, and late-stage growth. The $500 million investment fund is expected to be allocated to projects spanning all three stages.

    With incubation, Binance Labs aims to connect projects with Binance’s network of resources, experts, and mentors to help them drive successful product development and growth. Binance Labs runs its incubation program regularly and is currently supporting its fourth cohort.

    Early-stage venture investments include token and equity investments across all sectors of cryptocurrency and web3, including infrastructure, DeFi, NFTs, gaming, metaverse, social, and crypto adoption platforms.

    Late-stage growth investments target more mature companies looking to scale or bridge into the web3 ecosystem with the Binance ecosystem as a solid strategic partner.

  • HiveMinds bags digital marketing mandate for Kuvera

    HiveMinds bags digital marketing mandate for Kuvera

    Mumbai: HiveMinds Innovative Market Solutions, a unit of Madison World has won the digital marketing mandate for the investment platform Kuvera.

    HiveMinds also manages digital marketing duties for brands including Dominos, Max Life Insurance, BigBasket, CoinSwitch Kuber and e-commerce mandates for brands like Crompton, PG, Nivea, Sugar Cosmetics, ITC Dermafique and Stanley Black & Decker.

    Trusted by 1.3 million+ investors with over Rs 34,000 crore in assets; Kuvera enables investments, loans and remittances. It offers online personal finance services and has pioneered goal-based, direct plan mutual fund investment for Indians. It uses technology to help users make smart decisions and navigate the nuances of personal finance.

    Speaking about this partnership, Kuvera founder and CEO Gaurav Rastogi said, “At Kuvera we are creating a safe space to invest for every Indian. We believe that HiveMinds’ category understanding and strategy can really drive the next phase of our growth.”

    On winning the mandate HiveMinds founder and CEO Jyothirmayee JT commented, “Digital investment platforms are driving a sea change in the way Indians invest. Kuvera is riding this wave through product innovation, an agile platform and customer onboarding at scale. We’re happy to be associated with the team and look forward to creating new benchmarks in growth together.”