Author: Aman Atulya

MyPickup, a subscription-based electric mobility startup backed by Inflection Point Ventures (IPV), has ceased operations after three years in business, citing challenges in achieving product-market fit (PMF) and limited access to patient capital. BackgroundFounded in February 2023 by Abhijeet Jagtap, MyPickup offered subscription-based electric auto-rickshaw services, allowing commuters to book weekly or monthly rides with predictable fares and zero surge pricing. The service aimed to provide reliable, eco-friendly transportation for daily commuters. Operations & PerformanceDespite its innovative model, MyPickup struggled to scale. By May 2025, the startup operated only 19 vehicles, completing around 4,000 rides per month and serving fewer…

AI-powered astrology platform MyNaksh has raised ₹7.5 crore ($900K) in pre-seed funding, led by Eximius Ventures and Gemba Capital, with participation from Infinyte Club and a network of angels. The round ranks among the largest pre-seed raises in India’s online astrology space. Funding Snapshot Sector Context Astrology apps like Astrotalk, AstroSage, and Click Astro dominate India’s $2B+ online astrology market. Yet, gaps remain in personalisation, credibility, and user trust. MyNaksh’s Edge Founded by Nitesh Salvi, Devaang Agarwalla, Gaurav Mohta, and Piyush Nagle, MyNaksh merges AI-powered personalisation with human astrologers. Capital Plans The startup will use fresh funds to: Market Watch…

Flipkart-owned Myntra has reported a consolidated net profit of ₹548.3 crore in FY25, a massive jump from just ₹30.9 crore in FY24, according to financial disclosures cited in media reports. The sharp swing to profitability was driven by a deferred tax credit of ₹137.5 crore and lower employee-related costs, even as total expenses grew at a modest 12% year-on-year. Employee benefit expenses were down by nearly 7%, aiding the bottom line. Revenue Breakdown Marketplace commissions and advertising growth underline Myntra’s increasing focus on platform monetisation, while logistics remains its largest contributor to topline. Strategic Moves Earlier this year, Myntra secured…

Fashion and lifestyle major Myntra has partnered with the founders of SUGAR Cosmetics to launch Molten Beauty, a new-age beauty brand built for Gen Z. Positioned at the intersection of skincare and makeup, the brand combines Myntra’s ecommerce scale with SUGAR’s product innovation to capture India’s fastest-growing consumer segment. Launch Snapshot Skin-First Philosophy Unlike traditional cosmetics, Molten Beauty is built around care before coverage, offering vegan, cruelty-free products with actives like hyaluronic acid, niacinamide, and peptides. The lightweight, clinically tested formulations are tailored for Gen Z consumers who demand efficacy, transparency, and inclusivity. The portfolio will expand to 50+ SKUs…

Prime Minister Narendra Modi has inaugurated Mizoram’s first railway line, the ₹8,070 crore Bairabi–Sairang project, linking the state capital Aizawl with India’s national railway network for the very first time. Alongside the inauguration, a Rajdhani Express was flagged off, providing direct connectivity between Aizawl and New Delhi. Connectivity as a Growth Multiplier For decades, Mizoram’s entrepreneurs and small businesses faced high logistics costs and long delays due to road-only access. With the new rail line, the state now gains direct freight and passenger connectivity to India’s major markets. This will reduce supply chain costs, boost trade volumes, and create opportunities…

The Government of India has announced a ₹100-crore scheme to accelerate green hydrogen innovation, as Union Minister for New and Renewable Energy Pralhad Joshi inaugurated the first Annual Green Hydrogen R&D Conference in the capital on Thursday. Funding Snapshot The scheme will provide grants of up to ₹5 crore per project for startups developing solutions in hydrogen production, storage, transport and utilisation. At the conference, 25 startups showcased technologies spanning electrolyser manufacturing, AI-driven optimisation, and biological hydrogen production. Driving the National Mission The initiative builds on Prime Minister Narendra Modi’s National Green Hydrogen Mission (NGHM), launched in 2023 with a…

Honda Motorcycle and Scooter India (HMSI), the Indian arm of the Japanese auto major, will commission its first dedicated electric two-wheeler manufacturing facility at Narasapura in Kolar district, Karnataka, with an investment of ₹600 crore. Investment Snapshot EV Push in India The new facility will manufacture Honda’s Activa e: (with swappable battery system) and QC1 (fixed battery, 80km range). Both models are currently assembled at Narasapura but will now move into full-scale EV-focused production. Honda’s shift aligns with India’s rapid adoption of urban EV mobility and is expected to create significant employment opportunities in Karnataka’s automobile sector, according to Industries…

Gurugram-based at-home services marketplace Urban Company has closed its blockbuster IPO with record investor demand, subscribed 103.6 times. Subscription Frenzy The three-day book build issue (Sept 10–13) drew bids for 1,106.46 crore shares against just 10.68 crore available. Demand was led by QIBs (140.2x), followed by HNIs (74x) and retail (39.2x). Even the employee quota was oversubscribed 36.7x. The IPO comprised a fresh issue of ₹472 crore (4.58 crore shares) and an OFS of ₹1,428 crore (13.86 crore shares) from existing backers including Accel, Elevation, Tiger Global, Vy Capital, and Bessemer. Pre-IPO Moves Ahead of the issue, Urban Company raised…

Crion Technologies, a deep-tech company specializing in digital twin, IoT, AI, AR/VR, and cloud-based solutions, has raised ₹3.5 crore in funding led by SIG Tattva, the corporate venture capital arm of Somany Impresa Group. The fresh capital will fuel the growth of Clonos™, Crion’s flagship digital twin platform, which enables enterprises to manage assets with real-time insights and predictive capabilities, reducing downtime and driving operational efficiency. Founded in 2016 by Rahul K, Karthik Pondugula, and Rathees Paneerselvam, Crion is building next-generation solutions for industrial asset management and workforce transformation. Its offerings include 3D digital twin creation and the “Augmented Workforce”…

Biokraft Foods, a foodtech startup developing structured cultivated meat, has secured Rs 2 crore in pre-seed funding led by GVFL. The capital will be used to strengthen R&D, accelerate product development, and advance regulatory approvals as the company prepares for commercialization. Founded in 2023 by Kamalnayan Tibrewal, Biokraft is building cultivated meat products designed to replicate the taste and texture of conventional meat. The startup is leveraging advanced biotechnology and 3D bioprinting, while adopting a hybrid approach that blends cultivated meat with food-safe ingredients. This method aims to make products more affordable, scalable, and realistic for consumers. Biokraft has already…