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| Name | Jio Finance vs Adani One: Fight for Fintech Superapp? - Indian Startup News 212 |
| Video Uploader | Video From Backstage with Millionaires |
| Upload Date | This Video Uploaded At 08-06-2024 06:04:57 |
| Video Discription | Notion Dashboard: https://meadow-pillow-7fa.notion.site/BwM-Startup-Funding-Database-303101b874824f4c91fae9fc8ce6d450 This week funding:https://meadow-pillow-7fa.notion.site/W9-Q1-FY25-e7e12e19afd1442aa20dd2bd1c1a5914 Funding chart: https://docs.google.com/spreadsheets/d/10-sWaL38VYz--CqQNMQEwsG9xRBAx3nwOLRKzRD4BkY/edit#gid=0 ------------------------------------------------------------------------------------------------------------------------------------------------ 00:00 Jio Finance vs Adani One 03:00 Boat’s Wearables Business is Sinking? 04:21 Rebel Food’s Slay Coffee to Exit Cloud Kitchen Business? 04:53 Unacademy Launches Language Learning App 05:47 BluSmart Goes International 06:16 Ixigo IPO Details 07:00 Byju’s Valuation Cut 07:57 Swiggy Gets a Valuation Bump 08:13 Funding News ------------------------------------------------------------------------------------------------------------------------------------------------ Jio Finance vs Adani One: Fight for Fintech Superapp? India’s two richest men, Mukesh Ambani and Gautam Adani, are set to shake up the Indian fintech landscape. Last week, Jio Finance, the fintech arm of Reliance, launched their app on Google Play Store, aiming to revolutionize the fintech space with a superapp offering insurance, digital payments, and lending. They've also partnered with BlackRock to launch a mutual fund business in India and are gearing up to compete with Paytm and PhonePe in the soundbox market. Meanwhile, Adani’s potential entry into fintech with their superapp, Adani One, is creating a buzz. Although not confirmed, Adani One has already launched co-branded credit cards with ICICI Bank and Visa, hinting at bigger fintech ambitions. With India’s fintech industry expected to be worth $150 billion by 2025, Reliance and Adani are poised to disrupt the market. Boat’s Wearables Business is Sinking? Boat, India’s leading wearable brand, is scaling down its wearables business. Despite being a market leader, their share has dropped from 39.3% in 2021 to 26% in FY23 due to competition from brands like Noise and Fire Boltt. With a significant decline in Average Selling Prices (ASPs), Boat plans to focus on their audio category and premium products. Rebel Food’s Slay Coffee to Exit Cloud Kitchen Business? According to The Arc report, Slay Coffee, owned by Rebel Foods, is planning to exit the cloud kitchen business and shift to a retail model by opening cafes. Slay Coffee has seen a significant drop in revenue and aims to transition from online to offline. Unacademy Launches Language Learning App Unacademy has launched a language learning app, marking a shift from their core exam-focused products. Currently supporting Spanish, the app plans to add French and more languages soon. Unlike Duolingo, Unacademy claims to offer a more effective learning experience. BluSmart Goes International - Launches Premium All-Electric Limousine Service in UAE BluSmart, the EV ride-hailing startup, has launched a premium all-electric limousine service in the UAE, using Audi e-tron cars. This marks their first international expansion and UAE’s first all-electric limousine service. Ixigo IPO Details Ixigo is set to open their IPO bidding on June 10, with a price of 88 to 93 rupees per share, aiming to raise 740 crore rupees. Founded in 2007, Ixigo has shown significant revenue and profit growth, making this IPO highly anticipated. Byju’s Valuation Cut - Negative Valuation Baron Capital has reduced Byju’s valuation to just 24 million dollars. With losses over 1 billion dollars and debt of 1.2 billion dollars, Byju’s net valuation is effectively negative 2 billion dollars. Swiggy Gets a Valuation Bump While Byju’s valuation dropped, Swiggy’s valuation increased from 12.1 billion dollars to 15.1 billion dollars, boosting confidence as they plan their IPO. Funding News This week, Indian startups raised 327 million dollars, up from last week’s 230.5 million dollars. Key highlights: Lenskart raised 200 million dollars, valuing the company at 5 billion dollars. A Pune-based digital lending platform raised 90 million dollars in their series E round. AstroTalk raised 9.5 million dollars, valuing them at 300 million dollars. TestSigma raised 8.2 million dollars. LogicLadder raised 2.5 million dollars in their series A round. ------------------------------------------------------------------------------------------------------------------------------------------------ Connect with us: Twitter: https://twitter.com/bwmillionaires/ Instagram: https://www.instagram.com/backstagewithmillionaires/ Podcast: https://open.spotify.com/show/5rGPalovc6AKsfbOyjh32p |
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