All posts by : Empowering Indians

Chankya Opportunities Fund I, a SEBI Registered Category II Alternative Investment Fund managed by StepTrade Share Services has made a significant investment in digital transformation and product engineering firm Optimised Solutions Limited. This investment entails a total share allotment of 2,73,224 shares.

Ahmedabad-based Optimised Solutions specialises in providing test, measurement, and automation solutions tailored for aerospace and defence companies. The funds will be used by the company to further its expertise in delivering advanced automation solutions, embedded software solutions, IoT, and digital transformation. Optimised Solutions has been an industry player for over 18 years and plans to file an IPO in the year 2025-2026. Its offerings are designed to meet the industry demands in these high stakes sectors.

This investment strengthens StepTrade’s role in advancing the SME sector. “Through this investment, StepTrade is not only supporting a promising SME but also contributing to the broader growth of the Aerospace and Defence sectors, encouraging the Government preference towards this sector (recent budget allocation of 4.6 lakh crore),” said CA Kresha Gupta, Director and Fund Manager, StepTrade Share Services.

As the Investment Manager of Chanakya Opportunities Fund I, StepTrade manages its own SEBI Registered AIFs in Categories I, II, and III, as well as providing Portfolio Management Services (PMS). The consistent performance of these funds in the market since their inception highlights StepTrade’s robust investment strategy and effective fund management, instilling confidence in its stakeholders and investors.

StepTrade Share Services Private Limited recently received Special Economic Zone (SEZ) approval to set up its Global Fund office at GIFT City, Gandhinagar. The Rs 1000 crore India focused fund is expected to be launched soon after the Scheme approval. This strategic move marks a significant development in the financial landscape, particularly in the domain of SME- Exchange, looking that the fund will have special focus on Small Cap and Micro Cap.

India’s fintech industry saw a funding inflow of $61 million in July, taking the total investments of the year to $398 million. Funding in July 2023 stood at $51 million. Interestingly, the Wealthtech sector emerged as the highest-funded segment this month, securing funding of $52 million.

The funding of $61 million was spread across ten unique companies. The payments sector followed closely as the second-highest funded segment during the month. Wealth management company Deservraised$32 million, making Mumbai the highest-funded city for the month.Other notable investments during the month, included wealth-tech company Stable money which raised $15 million and payments company Dice, which raised $5 million.

Among the funded companies, several models have been gaining traction, such as new-age algorithmic trading platforms, alternative investment platforms, and goal-based trading platforms. Innovative models like one-stop business banking platforms for cross-border payments have also emerged.

With $398 million invested so far this year, investor interest has primarily focused on the enabler segments. However, the lending segment is also gaining traction. The limited instances of repeat funding, coupled with consistent investments in unique companies each month indicates the brewing innovation within the Indian fintech sector.

“Looking ahead, we anticipate segments like secured lending models, apps for MSMEs, trading and investment platforms and Banking as a service (BaaS) models to attract substantial investment in fintech. Driven by groundbreaking innovations and increasing investor interest, these sectors are experiencing significant growth within the fintech landscape,” said Sameer Singh Jaini, TheDigital Fifth founder.

Within the secured lending space, there is an expectation that digital property valuation startups will grow, andphygital journeys will be transformed into digital journeys, leading to process simplification and streamlining. Startups that provide modular LOS/LMS to support complex secure lending products are likely to thrive and CRM platforms that can handle assisted digital journeys are expected to gain traction.

During 2024, the fintech industry has seen 60 rounds of funding so far. In the year, 59 unique fintech firms were funded and the enablers segment raised a total of $148 million. Sectors like lending and payments raised $122 and $41 million respectively. Bangalore has remained the epicenter of funding in 2024, securing the highest share of fintech funding in India.

Veera, India’s mobile-only reward focussed internet browser, has reached a significant milestone by surpassing two million users within just three months of hitting its first million-user mark. This remarkable growth highlights Veera’s increasing popularity and its commitment to enhancing the digital experience for its users.

Since the launch of its beta version in September 2023 and the production version in February 2024, Veera has introduced an array of new features, including a cricket widget called Cricket Adda, Veera Games, enhanced privacy features, rewards, and most recently it’s content partnership with ABP Live. Recently, Veera unveiled a sleek, modern redesign for their app, making the browsing experience even more intuitive for our customers.

Veera aims to provide India’s over one billion smartphone users with a fast, safe, and private internet experience. The browser’s unique features and user-centric approach have made it a preferred choice among users looking for a seamless browsing experience.

“Surpassing two million users in such a short span is a testament to the hard work and dedication of our team, as well as the trust and support of our users. We are committed to continuously innovating and providing the best mobile browsing experience possible. We have a number of exciting features coming up this year that will keep evolving the internet experience and make the internet even more bindaas for our customers .” said Arjun Ghose, Founder & CEO of Veera.

Gemba Capital, a leading Sebi-registered Micro VC in the country, has announced the launch of its second fund with a corpus of INR 250 crore, including a green shoe option of INR 50 crore.

Fund-II will invest in~30 early-stage ‘Platform-first’ businesses across 3 focus sectors – Fintech, Consumer tech and B2B Platformswith first cheque of INR 5 Crores and ~30% reserve ratio for making follow-on investments. Digital “Platform-first” businesses are those which can create compounding moats through ecosystem creation, network effects or ability to stack value add layers.

Gemba Capital founded in 2018, is a high conviction, thesis led investor which writes low friction collaborative checks. ItsFund I of INR 70 croreis2022 vintagewith an average cheque size of INR 2 crore. Fund I was raised through investments from Family offices, Founders, and CXOs.Since inception, Gemba Capital has been consistent in their investment strategy of investing only is pre-seed/seed rounds across their focus sectors, investing in less than 10 deals a year and focusing on value addition in the portfolio companies. The firm has developed a proprietary ‘Founder Market Fit Framework’ that assists in identifying the right teams to back.

Commenting on the announcement, Adith Podhar, General Partner, Gemba Capital, said, “Our journey has evolved from investing proprietary capital to running anangel syndicate and then raising and investing from our INR 70 crore Fund-I. We are now looking to partner with institutional LPs for our INR 250 crore Fund-II. The Indian early-stagestartup ecosystem needs more institutional capital to be deployed through Single-Stage VC funds like us”, he adds.

“We are one of the leading institutional micro-VC funds in India at the seed stage and we remain committed to being a seed investor. Founders recognize the immense value we bring to the cap-table, which sets us apart. The fund has supported its portfolio companies in multiple areas, including customer introductions, fundraising and strategic planning”, adds Govind Lohia, Principal at Gemba Capital.

Emerging VC fund managers in India mustnavigate a challenging fundraise environment, but those who implement robust processesand maintain disciplined portfolio construct will always attract capital. Gemba Capital has a solid performance track record with successful exits and up rounds. It is targeting to achieve Final Close ofFund-II by the end of the year.

In a significant move to enhance the browsing experience of its users, Veera, India’s first mobile-only internet browser, has announced a strategic content partnership with ABP LIVE. This collaboration aims to provide Veera users with instant access to authentic, verified news powered by ABP LIVE and delivered ad-free on Veera. Users can view this content by downloading the latest version of Veera, version 1.2.40.

Veera, known for its user-centric, customized, and innovative browsing solutions, has always prioritized the quality and reliability of content accessible through its platform. This partnership with ABP LIVE, one of the most trusted names in news media, reinforces Veera’s commitment to delivering validated news to its users.

Commenting on this partnership, Arjun Ghose, Founder & CEO of Veera said, “In today’s digital age, the importance of providing users with accurate and verified news cannot be overstated. Our partnership with ABP LIVE reflects our unwavering commitment to this principle. We are excited to offer Veera users a trusted source of news, enhancing their browsing experience with reliable information. This collaboration is a significant step forward in our mission to make the internet a safer and more informative place for everyone.”

Added Sukhdeep Bhogal, COO & CPO of Veera, “The partnership with ABP LIVE to deliver news in a decluttered manner with our ad-free solution is just the first step in revolutionizing the way the news is consumed in India. We will also beta test our latest AI features with ABP by allowing users to instantaneously get text summaries of their favorite articles.”

ABP Network Spokesperson said, “We are delighted to partner with Veera. At ABP Network, our mission is to provide credible and timely news to our audience. By partnering with Veera, we are transforming how India will consume news and we look forward to conducting many more experiments in the days ahead on the platform. This collaboration is a testament to our commitment to journalistic integrity and technological excellence.”

Everyday fashion brand Beyoung has collaborated with India’s beloved YouTube star Bhuvan Bam of BB Ki Vines Fame and his hilarious character Titu Mama. The campaign combines Beyoung’s trendy clothing with Bhuvan Bam’s humour. The new video showcases Beyoung’s latest collection, Urban Xclusive Collection #AspirationalBhiAffordableBhi. The aim of this campaign is to bring Beyoung’s core message of the coexistence of Aspiration and Affordability across to the audiences in the most entertaining way possible.

In the video collaboration, Bhuvan Bam gives Titu Mama a stunning makeover using Beyoung’s Urban Xclusive Collection. When Titu Mama asks Bhuvan who his stylist is, Bhuvan surprises him by revealing that it’s Beyoung.in! Titu Mama is amazed by the incredible benefits Beyoung offers. With an engaging storyline and relatable humor, this video not only entertains but also highlights Beyoung’s brand message – Aspirational Bhi, Affordable Bhi.

“We couldn’t be more excited about teaming up with Bhuvan Bam and Titu Mama. This collaboration perfectly captures Beyoung’s spirit of being stylish, relatable, and fun. Bhuvan’s ability to connect with his audience is incredible, and we believe this partnership will create memorable experiences for our customers,” said Shivam Soni, Founder and CEO of Beyoung.

“Partnering with Beyoung is super exciting for me! I connect with their principles of making fashion accessible to everyone. Bringing Titu Mama into this adds that extra bit of humour and relatability, which I think our audience will really enjoy,” said Bhuvan Bam, who has been the face of Beyoung since October 2023.

Bhuvan Bam’s close connection with the audiences and immense digital appeal makes him incredibly relatable, especially among the youth. Beyoung’s target audience also relates to the boy-next-door aura that Bhuvan Bam has. This partnership lets Beyoung stay connected with audiences of all age groups, making fashion fun and approachable for everyone.

In its efforts to stay relevant to its customers in tier 2, 3 and 4 cities, Beyoung is leveraging advanced tech tools. Having an ARR of Rs 200 crore in 2023-24, Beyoung is aiming to achieve Rs 650 crore turnover by 2027. Beyoung has already launched stores in cities like Udaipur, Bhilwara, and Kota. It is aiming to launch 30 stores by the end of 2024. It plans to open 300 stores by 2027.

Fintech incubator, Afthonia, has partnered with Institute of Management Technology (IMT) Nagpur to announce a strategic collaboration aimed at advancing executive education and fostering entrepreneurship development. The MoU was signed by IMT Nagpur Director Professor BigyanVerma and Afthonia Labs CEO Tanul Mishra.

This partnership will focus on delivering a range of initiatives, including specialised courses, training programs in fintech, mentorship for startups, and the establishment of an incubation centre. The exact nature of collaboration for each activity, project, and program will be determined on a case-by-case basis. The aim is to ensure a tailored approach that meets the specific needs and objectives of both the entities.

“The decision to collaborate stemmed from a shared vision and mutual recognition of each institution’s strengths. Afthonia brings extensive experience in nurturing fintech startups and driving innovation, while IMT Nagpur has a strong legacy in delivering top-tier management education. Through thorough discussions and a deep understanding of each other’s capabilities, both parties identified significant opportunities to create a synergistic partnership,” said, Tanul Mishra , Founder, Afthonia.

The primary goals of this collaboration are to enhance fintech education, support startup growth, and foster a culture of innovation and entrepreneurship. It is also aimed at delivering specialised courses and training programs that provide professionals and students with the latest knowledge and skills in the fintech industry. Robust mentorship and support to startups will help them navigate challenges and accelerate their growth through tailored guidance and resources.

The partnership also seeks to create a dedicated space to nurture innovative ideas and support budding entrepreneurs in transforming their concepts into successful ventures. Exposure visits and internships for faculty and students will allow them to gain valuable insights and practical experience in the industry. Joint projects, programs, and workshops will be conducted to address emerging trends and challenges in fintech and entrepreneurship.

“The synergies between Afthonia and IMT Nagpur are profound, as both organisations bring complementary strengths to the table. Afthonia’s deep industry connections and expertise in fintech innovation, combined with IMT Nagpur’s academic rigour and educational excellence, will create a powerful platform for nurturing talent and driving industry growth,”  Bigyan Verman, IMT Nagpur Director quoted.

Looking ahead, this partnership is envisioned to evolve into a model for industry-academia collaboration, driving continuous innovation and growth in the fintech sector.

Cygnet.One, a pioneer in driving technological transformations for enterprises, and Avant Group Corporation, a leading provider of digital management solutions in Japan, have joined forces to announce the launch of their groundbreaking joint venture, DivaCygnet. This strategic alliance to achieve a significant milestone in the evolution of board management and compliance technology solutions within the corporate realm. DivaCygnet is poised to revolutionize the landscape by prioritizing innovation in group governance, financial consolidation, and compliance, thus setting new standards for excellence.

DivaCygnet is set to introduce two flagship offerings: the Financial Consolidation Statement Solution (DIVA) and the Board Management Software (Trinity) of Avant Group Corporation. By leveraging Cygnet.One’s expertise in transforming indirect tax compliance processes within India’s corporate landscape and Avant Group Corporation’s proficiency in digital transformation for management processes, DivaCygnet aims to establish DIVA and Trinity as premier software solutions for corporates. This strategic partnership solidifies their leadership position within the Indian market and beyond.

“We are thrilled to unveil our JV, DivaCygnet, a testament to the collaborative spirit driving technology innovation in the board management and compliance space,” remarked Surendra Sharma, Managing Director and Board Member of Avant Group Corporation. “This joint venture marks a significant milestone in our mission to empower enterprises globally with cutting-edge technologies that streamline operations and enhance compliance.”

Cygnet.One’s innovation and market leadership track record is underscored by its flagship offering, Cygnet Tax, which automates GST compliance processes for enterprises in India. As a GSTN-approved GST Suvidha Provider (GSP) and Invoice Registration Portal (IRP), Cygnet.One processes approximately 20% of India’s e-invoicing traffic, demonstrating its commitment to driving technological advancements in compliance processes.

Niraj Hutheesing, Managing Director and Founder of Cygnet.One, emphasized the strategic significance of DivaCygnet: “This venture represents a fusion of expertise, innovation, and commitment to solve challenges encountered by CFOs and CEOs alike. With a proven track record of meeting the evolving needs of CFOs, our ambition with DivaCygnet is to elevate our efforts to tackle a broader spectrum of challenges faced by business leaders.”

By leveraging the existing brand presence of Cygnet.One, DivaCygnet will deploy specialized teams and field operations across key regions such as Mumbai, Delhi, Bengaluru, and Pune. This multi-pronged approach aims to maximize market penetration and drive the adoption of DIVA and Trinity among Indian and UAE corporates.

Furthermore, DivaCygnet will explore strategic partnerships with accounting firms and software integrators to expand its market presence and explore opportunities in new geographical markets where Cygnet.One has established enterprise exposure.

About Avant Group Corporation
Avant Group Corporation stands as a leading force in Japan’s digital management solutions landscape, renowned for its innovative approach and unwavering commitment to excellence. Established as a pioneer, they have consistently pushed the boundaries of technological advancement, offering cutting-edge solutions tailored to meet the diverse needs of businesses in an ever-evolving digital world.

With a focus on harnessing the power of technology to drive efficiency, productivity, and growth, Avant Group has earned a reputation for delivering transformative solutions that empower organizations to thrive in competitive markets. They are at the forefront of shaping the future of digital management solutions, driving progress and prosperity for its clients and stakeholders alike.

About Cygnet.One
Cygnet Infotech is dedicated to excellence and is re-evolving it’s brand identity as CYGNET.ONE to help consolidate its specialized offerings in Compliance transformations, Digital & Quality Engineering, Enterprise Modernization, Data, AI & Analytics Hyper Automation, Test automation, Digital signature, and a myriad of other offerings across Americas, the UK & Europe, Africa, the Middle East, and the Asia Pacific.

Through Cygnet Cosmos, our digital transformation framework, CYGNET.ONE empowers organization to achieve business process digital transformation through co-ideation, co-creation, co-innovation, and co-evolution. With a global presence spanning across diverse markets and industries, Cygnet.One serves as a one-stop destination for intelligent solutions, delivering value from ideation to execution, ultimately driving success for clients and partners worldwide.

Leading coaching institute for IIT JEE and NEET preparation, Competishun has launched its new campaign “We are there for you.” This initiative is aimed towards mentorship and support for students throughout their academic journey and beyond.

Designed and curated by MADnext, this campaign emphasizes Competishun’s commitment to nurturing not just exam-ready students but well-rounded individuals ready to tackle life’s challenges. The campaign focuses on #WinningInLife and #WinningInCompetishun, which ensures that students excel both academically and personally.

Through this campaign, Competishun aims to break away from only traditional coaching services but will also provide students with a long term mentorship program. This program will provide students with personalised guidance, emotional support and practical life skills. Competishun’s dedicated team of educators and industry experts will help students build confidence, resilience and a positive mindset.

Students will be given a series of workshops, one-on-one mentoring sessions and motivational seminars. This will help an all-round development of the students.The campaign will be promoted through various media channels, including social media, print, and digital platforms, to reach a wider audience and inspire more students to benefit from this unique initiative.

“We believe that true education goes beyond just passing exams; it’s about preparing students for the challenges and opportunities life presents. With the ‘We Are There For You’ campaign, we aim to foster a supportive and nurturing environment that helps students grow not just academically but personally as well. This initiative is a testament to our commitment to creating a brighter future for our students and contributing positively to the educational ecosystem. We are dedicated to helping our students achieve #WinningInLife and #WinningInCompetishun,” said Mohit Tyagi, Founder of Competishun.

Also Read: Left high-paying teaching job in Kota, launched affordable IIT JEE ed-tech, clocked Rs. 12 Cr in FY-24

Competishun aims to create a comfortable learning environment for students through online education at an affordable cost. The platform offers customised online batches based on students’ needs and performance, with doubt-solving counters and 24/7 support via WhatsApp and phone. The company utilises cutting-edge technology to enhance the learning experience and to provide cost-effective, quality education to all JEE and NEET aspirants at the comfort of their homes.

About Competishun:
Jaipur-based Competishun is a premier coaching institute dedicated to preparing students for the IIT JEE and NEET examinations. Established with the vision of delivering high-quality education and comprehensive mentorship, Competishun has consistently produced top-ranking students and successful professionals.

With a focus on innovative teaching methods, personalized guidance, and holistic development, Competishun continues to empower students to achieve their academic goals and excel in their chosen careers. By emphasizing #WinningInLife and #WinningInCompetishun, Competishun ensures that students are well-prepared for both academic success and personal growth.