Author: Aman Atulya
Used car retailer Spinny has reported strong financial results for FY25, with significant revenue growth and improved cost efficiency, reflecting its push to consolidate leadership in India’s pre-owned car market. According to filings with the Registrar of Companies (RoC), Spinny’s revenue from operations rose 25% year-on-year to Rs 4,657 crore, up from Rs 3,730 crore in FY24. The bulk of this income came from used car sales, which contributed 97.7% (Rs 4,553 crore) of total operating revenue. Additional streams such as commissions, support services, and advertising made up the balance. The company also recorded Rs 89 crore in non-operating income,…
The Reserve Bank of India (RBI) has introduced the Authentication Mechanisms for Digital Payment Transactions Directions, 2025, a unified framework that will come into effect from April 1, 2026. The rules apply to all payment providers, including banks, card issuers, and fintech firms. Currently, digital transactions in India depend largely on SMS-based OTPs. The new framework expands the scope of authentication, allowing the use of biometrics, device-based tokens, and passphrases. Every transaction must involve at least two distinct authentication factors, with one being dynamic and unique to that transaction. A key emphasis is interoperability, ensuring that tokenisation and authentication services…
Tata Capital, the financial services arm of the Tata Group, has announced the launch of its Initial Public Offering (IPO), scheduled to open for subscription on October 6, 2025, and close on October 8, 2025. The company has filed its Red Herring Prospectus (RHP) with the Securities and Exchange Board of India (SEBI), confirming these dates. The IPO aims to raise between ₹16,500 crore and ₹17,500 crore, comprising a fresh issue of up to 210 million equity shares and an Offer for Sale (OFS) of up to 265.8 million equity shares by existing shareholders. The offering is expected to be…
Godrej Agrovet has signed a non-binding Memorandum of Understanding (MoU) with the Ministry of Food Processing Industries (MoFPI), under which the company will invest ₹960 crore to build a new manufacturing unit and R&D center. The agreement was announced during World Food India 2025, aligning with the government’s push for a resilient, innovation-led agri-food processing sector. Slated for completion by FY 2026-27, the project is expected to generate employment, support regional development, and strengthen skills in its operating region. Godrej Agrovet has emphasized that the upcoming facilities will not only upscale its production capacity but also focus on research and…
Quick medicine delivery startup Plazza has secured $1.4 million in a funding round led by All In Capital, as it looks to expand its presence in India’s fast-growing healthtech logistics sector. The round also saw participation from Better Capital, Abhishek Goyal (founder of Tracxn), Vivekananda Hallekere (co-founder of Bounce), the Singhania family office, and promoters of JK Tyre. Founded in 2024 by Aman Priyadarshi, former head of dining operations at Zomato, Plazza entered the market with a bold promise delivering medicines 24×7 at lightning speed. Launched in November last year, the platform has built a tightly integrated supply and logistics…
In a strategic move to strengthen industry–academia ties in India’s mobility sector, IIT Madras and Hero MotoCorp (HMCL) have signed a Memorandum of Understanding (MoU) to collaborate on research, education, and upskilling in areas including electric vehicle development, battery technology, AI, propulsion systems, and mobility solutions. The MoU was formalized in the presence of senior leadership teams: from Hero MotoCorp’s side—Vikram Kasbekar (Executive Director & Acting CEO/CTO), Anuj Dua, Jyoti Singh, Ananda Reddy, Rajat Kapoor, and Manish Singhal—and from IIT Madras—Director V. Kamakoti and Dean (Industrial Consultancy & Sponsored Research) Manu Santhanam. Key Focus Areas & Commitments Under the agreement,…
Automotive servicing startup GaadiMech.com has secured ₹1.5 crore in a pre-seed funding round led by AJVC, valuing the company at $2 million. The fresh capital will help the startup expand operations beyond its Rajasthan stronghold into new markets while enhancing product and service quality. Building India’s Pit-Stop Service Network Founded in 2020 by Surakshit Soni and Sarvesh Kabra, GaadiMech is streamlining India’s highly fragmented car servicing industry. The company operates a hybrid model with online booking and physical service hubs, offering express car care in 90 minutes, live tracking, transparent pricing, and the use of genuine spare parts. “Car care…
Paras Defence and Space Technologies Ltd., an Indian defense startup specializing in electro-optics, has secured a $3.8 million (₹34 crore) international order from Elbit Security Systems, a leading Israeli defense technology firm. The contract is set for execution from February to November 2026. Strategic Edge Founded in India, Paras Defence designs and manufactures advanced electro-optics and precision systems for defense applications. The deal with Elbit Systems strengthens its global footprint, positioning the company as a key Indian supplier of high-tech defense equipment. This contract is part of Paras Defence’s ongoing strategy to expand its international collaborations while supporting the government’s…
Cloud kitchen operator Curefoods has raised ₹160 crore ($18 million) in a pre-IPO placement from 3State Ventures, the investment arm of Flipkart co-founder Binny Bansal. The company allotted 1.28 crore equity shares at ₹124 per share as part of the transaction. The funding comes ahead of Curefoods’ planned IPO, where the Bengaluru-based firm aims to raise ₹800 crore through a fresh issue along with an offer for sale (OFS) of 4.08 crore shares from existing investors including Iron Pillar, Chiratae Ventures, Crimson Winter, Accel, and Curefit Healthcare. Founder and CEO Ankit Nagori will not dilute his stake in the OFS.…
CMF (Nothing’s sub-brand) and Indian manufacturing firm Optiemus Infracom have announced a joint venture to invest $100 million in India, with the aim to set up a global hub for smartphone operations, R&D, and manufacturing. The JV is expected to generate over 1,800 jobs over the next three years. Under the arrangement, Optiemus will hold a 65% stake, and the facility will be located in Noida. With an initial production capacity of 500,000 phones a month, the JV is not solely intended for manufacturing Nothing and CMF devices — it will also produce phones for other brands. Nothing currently holds…