Author: Business Matters Author

Fambo, an innovative agritech startup, has successfully raised INR 21 Crore (approximately $2.4 million) in a seed funding round led by EV2 Ventures. The fresh capital will enable the company to expand its operations across India, establish an export vertical, invest in cutting-edge technology, and build a larger network of partner farms. This funding comes as a significant milestone for Fambo, which was founded in 2022 by Akshay Tripathi and Sudarshan Satle. Connecting Farmers with Businesses using Fambo Fambo operates as a unique platform designed to bridge the gap between farmers and businesses in the food industry, particularly Quick Service…

Swiggy, one of India’s leading foodtech platforms, has announced a significant expansion of its quick commerce vertical, Instamart, to 76 cities across the country. The rapid growth of Instamart reflects the increasing demand for ultra-fast delivery services and positions Swiggy as a major player in the burgeoning quick commerce sector. Additionally, the company has revealed plans to launch a standalone Instamart app, enabling users to access its quick commerce services more efficiently and conveniently. Launched in August 2020, Instamart was born out of the COVID-19 pandemic, when there was a massive surge in demand for contactless, on-demand delivery services. Initially…

ePlane Company and Tata Consultancy Services (TCS) have officially joined forces to bring a new wave of innovation to the electric air mobility (EAM) industry. This groundbreaking partnership aims to accelerate the development of cutting-edge technologies that will redefine the future of sustainable aviation. As the world increasingly turns to green solutions to combat climate change, electric air mobility is emerging as a promising alternative to traditional fossil fuel-powered aircraft. By combining ePlane’s expertise in electric aircraft design with TCS’s strength in digital transformation and technology integration, this partnership is set to drive the next era of eco-friendly aviation. Electric…

In a significant step towards strengthening India’s manufacturing startup ecosystem, the Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of Commerce & Industry, has signed a Memorandum of Understanding (MoU) with global retail giant Walmart. This partnership aims to provide critical support to startups, along with micro, small, and medium enterprises (MSMEs), particularly in Tier II and Tier III cities. The MoU was announced on January 17, 2025, by Sanjiv Singh, Joint Secretary at DPIIT, in a post on LinkedIn. The primary objective of the partnership is to provide strategic support to manufacturing startups, helping them…

RAS Luxury Skincare, a direct-to-customer (D2C) skincare brand based in Delhi-NCR, has successfully raised $5 million (approximately INR 43 Crore) in a Series A funding round, marking a significant milestone in the company’s journey. The funding round was led by Unilever Ventures, along with participation from Amazon’s Smbhav Venture Fund. This new investment will enable the growing skincare startup to expand its retail footprint, enhance its product offerings, and strengthen its overall business infrastructure. Founded in 2017 by Shubhika Jain, Suramya Jain, and Sangeeta Jain, RAS Luxury Skincare has quickly carved a niche in the beauty and personal care industry.…

Bengaluru-based electric tractor startup Moonrider has raised $2.2 million (approximately INR 19 crore) in a seed funding round, with investments co-led by AdvantEdge Founders and Micelio Fund. The round also saw participation from several angel investors, marking a strong vote of confidence in the startup’s vision and innovative approach to the agricultural machinery sector. The fresh capital will primarily be used to enhance the startup’s capabilities in key areas such as vehicle engineering, vehicle software, and battery technology. These investments will allow Moonrider to accelerate the development and deployment of its electric tractors, which are designed to address the unique…

Pixxel, an emerging spacetech startup known for its innovative satellite imaging technology, has announced a significant collaboration with South Korea’s SIIS Co. The two companies have signed a memorandum of understanding (MoU) to supply hyperspectral satellite data to the Korean market. This partnership aims to combine Pixxel’s advanced hyperspectral imaging technology with SIIS’s expertise in satellite imaging systems, providing valuable insights to a variety of industries. SIIS Co. is a prominent player in the satellite imaging industry in South Korea, specializing in the export of satellite imaging systems, direct receiving systems, and AI training data. By collaborating with Pixxel, SIIS…

Bengaluru-based energy technology startup EMO Energy has successfully raised $6.2 million (INR 53.1 Cr) in its Series A funding round. The investment was led by Subhkam Ventures, with existing investor Transition VC also participating in the round. This funding will enable EMO Energy to expand its energy solutions for electric two and three-wheelers, furthering its mission to accelerate electric vehicle (EV) adoption and urban decarbonization. Founded in 2022 by Sheetanshu Tyagi and Rahul Patel, EMO Energy is a deep energy-tech company that aims to provide innovative energy storage and battery solutions tailored for the rapidly growing electric mobility market. The…

The Souled Store, a direct-to-consumer (D2C) fashion startup, achieved profitability for the first time in the financial year ending March 2024 (FY24). This impressive turnaround came on the back of robust revenue growth and improved operational efficiencies, reflecting the company’s successful shift in strategy and positioning over the years. Founded in 2013 by Vedang Patel, Rohin Samtaney, Aditya Sharma, and Harsh Lal, The Souled Store initially gained popularity as a branded merchandise apparel brand. In its early years, the company specialized in licensed merchandise, primarily catering to pop-culture enthusiasts with a range of t-shirts, hoodies, and accessories based on popular…

Nykaa, one of India’s leading beauty and fashion e-commerce platforms, has witnessed a significant surge in its stock price following the company’s optimistic financial update for the third quarter (Q3) of the fiscal year 2024-25. On January 6, 2025, Nykaa’s shares rose by 5.21% to reach INR 176.50 during the intraday trading session, reflecting positive investor sentiment driven by its strong Q3 performance projections. However, the stock later pared some of the gains and was trading at INR 174.80 per share at the time of writing, with a market capitalization of INR 49,975 crore. The boost in Nykaa’s stock price…