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Ultra Media & Entertainment Group Commits Rs 500 Crore Investment to Launch OTT Platforms Ultra Play & Ultra Gaane, Boost Content Portfolio

By
Garima Bansal
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Ultra Media & Entertainment Group has unveiled plans to invest Rs 500 crore to drive its growth and expand its content offerings. This strategic investment will facilitate the launch of two new over-the-top (OTT) platforms, Ultra Play and Ultra Gaane, while enhancing its current Marathi platform, Ultra Jhakaas. The investment is strategically divided, with Rs 250 crore dedicated to content acquisition, Rs 200 crore allocated for the production of new content, and Rs 50 crore set aside for marketing and technological upgrades.

The introduction of Ultra Play and Ultra Gaane aims to deliver a unique digital experience by preserving the legacy of Hindi cinema and music while also introducing fresh and original content. Ultra Play will be India’s first OTT platform focused solely on Hindi film classics, featuring a vast collection of over 2,000 films from legendary directors such as Guru Dutt, Raj Kapoor, and Shakti Samanta.

Ultra Media & Entertainment Group has shown remarkable growth, with revenue increasing by 25% in both 2021-22 and 2022-23, and a 35% growth rate in 2023-24. Currently experiencing a 40% growth rate, the company anticipates reaching a 50% growth rate by the end of FY 2024-25, targeting revenue exceeding Rs 200 crore in the upcoming fiscal year. This strategic expansion positions Ultra as a key player in the OTT market, with a strong focus on enhancing its digital content portfolio and audience reach.

Swiggy Introduces Incognito Mode Ahead of IPO, Allowing Private Orders Without Deleting History

By
Garima Bansal
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0

Swiggy, a leading food tech startup preparing for its IPO, has introduced a new incognito mode feature for users, allowing them to place orders privately without needing to manually delete order history. Initially rolled out to 10% of its users, Swiggy plans to make this feature available to all users soon. According to Rohit Kapoor, CEO of Swiggy’s Food Marketplace, this feature addresses the need for privacy in an increasingly social world. The incognito mode can be activated via a toggle in the app, and order tracking will remain available for three hours post-delivery to handle any concerns.

Swiggy has a history of rolling out innovative features, including ‘eatlists,’ ‘explore mode,’ ‘reordering,’ and ‘group ordering.’ Recently, Swiggy reported its fiscal year 2024 results, revealing a 44% reduction in losses to Rs 2,350 crore and a revenue of Rs 5,476 crore between April and December 2023. The company’s operating revenue increased by 36% to Rs 11,247 crore in the last fiscal year. Swiggy’s business grew by 17% to Rs 6,100 crore, while its quick commerce arm, Instamart, reported Rs 1,100 crore in gross revenue for FY24.

In May 2024, Swiggy filed for an IPO through a confidential route, aiming to raise up to Rs 3,750 crore (approximately $450 million) through a fresh issue of equity shares and an offer for sale of up to Rs 6,664 crore. As part of its fiscal strategy, Swiggy spent Rs 1,581 crore on marketing during the year and addressed an embezzlement issue involving a junior employee who misappropriated Rs 33 crore.

Kingfisher Set to Return to Delhi by Year-End, Says United Breweries; Expands Presence with New Products and GenZ Focus

By
Garima Bansal
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United Breweries Ltd (UBL), known for its flagship Kingfisher beer, is set to re-enter the Delhi market by the end of 2024. According to United Breweries’ Chief Marketing Officer Vikram Bahl, Kingfisher will soon be available in Delhi after being absent since the withdrawal of the New Excise Policy 2021-22. Over the past year, United Breweries, which is controlled by Heineken NV, has launched various products and expanded its market presence in several states, excluding Delhi. Recent launches include Heineken Silver in Karnataka and Goa, London Pilsner, Kingfisher Ultra Max draught, Mango Rush in Karnataka, and Queenfisher in Goa. The company is also planning a new product launch in Tamil Nadu, where it will sponsor the Indian Racing League (IRL).

Bahl highlighted that Tamil Nadu holds strategic importance for UBL due to its strong market presence and local manufacturing facility, making the partnership with IRL a natural fit as motorsports gain popularity in the region. Kingfisher has a long history of sponsoring major sporting events, including the Indian Premier League (IPL), India Premiership 2023, and FC Goa. The brand achieved its highest-ever volume and revenue in FY24, aided by an active promotional calendar and strategic associations, such as an advertising campaign during the IPL and a partnership with Lucknow Super Giants.

UBL is not only focusing on expanding its geographical reach but also targeting Generation Z (GenZ), who are expected to drive beer consumption in India due to the country’s youthful demographic profile. United Breweries is aligning with GenZ’s interests by partnering with motorsports, music festivals, and launching inclusive products like Queenfisher. The brand strengthened its connection with young consumers through gaming, as seen with its year-long association with Kingfisher India Premiership in 2023.

The beer market is evolving, with a growing demand for diverse products, including flavored and non-alcoholic beers. Bahl noted the positive response to UB’s offerings like Mango Rush and Queenfisher. Financially, United Breweries posted a 27.47 percent increase in consolidated net profit to Rs 173.80 crore for the first quarter of FY25, up from Rs 136.34 crore a year earlier. The company’s revenue from operations rose by 10.83 percent to Rs 5,811.28 crore, compared to Rs 5,243.01 crore in the same quarter of the previous year. During this period, UBL invested Rs 47 crore in capital expenditures, mainly for supply chain enhancements to support future growth.

Xolopak India Secures Pre-IPO Backing from Aamir Khan, Ranbir Kapoor, Karan Johar, and Other High-Profile Investors

By
Garima Bansal
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0

https://starsunfolded.com/akash-ambani/Xolopak India Limited, a prominent player in sustainable disposable packaging, has secured pre-IPO investments from high-profile investors, including Bollywood celebrities Aamir Khan, Ranbir Kapoor, Karan Johar, and Russell Mehta, owner of Rosy Blue India and Akash Ambani’s father-in-law. The Pune-based company is India’s first manufacturer of organic disposable cutlery, ice cream sticks, and spoon products, catering primarily to the B2B segment.

The pre-IPO round also saw participation from investors like Devanathan Govindarajan of Riverstone Capital, Ravi Nathan Iyer, Jyoti Ketan Vakharia, Jayaraman Vishwanathan, Minerva Ventures Fund, Nexta Enterprises LLP, NVS Corporate Consultancy Services, Opus Software Solutions, Sarod Reality, Feroz Farms and Holdings, and Viney Equity Market LLP. Xolopak India recently filed its Draft Red Herring Prospectus (DRHP) with NSE Emerge, featuring a fresh issue of up to 52,86,000 equity shares with a face value of Rs 10 each. Beeline Capital Advisors Private Limited is the lead manager, and Bigshare Services Private Limited is the registrar for the offer.

Xolopak India, promoted by Shashank Mishra and Banani Chatterjee, who bring over 17 years of experience in sustainable packaging, operates a production facility in Bhopal, Madhya Pradesh. The company produces and supplies a range of wooden cutlery, including spoons, forks, knives, sporks, coffee stirrers, chopsticks, and kulfi sticks. Under the leadership of Mishra and Chatterjee, who manage day-to-day operations including sales, purchasing, and finance, Xolopak India has reported significant growth, with revenues nearly tripling to Rs 31.47 crore in FY 2023-24, compared to Rs 11.87 crore in the previous fiscal year, and profit rising to Rs 6.36 crore from Rs 3.48 crore.

Clean-Tech Startup ReCircle Secures Bridge Funding to Drive Expansion in Recycled Plastics and Circular Waste Solutions

By
Garima Bansal
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0

Clean-tech startup ReCircle has secured an undisclosed amount of funding in a bridge round led by Venture Catalysts and Mumbai Angels. The funding will help ReCircle provide high-quality recycled and traceable plastics for packaging, opening a new revenue channel aimed at reaching a target of Rs 100 crore in FY 2025-26.

ReCircle is focused on advancing its mission to create a circular system for plastic waste. CEO and Co-Founder, Rahul Nainani, emphasized that forward integration into the supply chain will allow the company to maintain full control, offering traceability and passing benefits to downstream partners. The funds will support expansion efforts, including the launch of ReCircle’s own recycling unit in the coming months.

Founded in 2016, ReCircle tackles India’s waste management challenges through its material recovery facility in Mumbai, handling various types of waste, including plastic, paper, metal, and e-waste. To date, the company claims to have diverted over 169,000 metric tons of waste from landfills and water bodies across 270 cities and towns in India, supported by a network of 45 processing and 400 collection partners.

The upcoming Extended Producer Responsibility (EPR) regulation, which mandates 10-30% recycled content in packaging by April 2025, presents a significant market opportunity for ReCircle. With its own PET bottle processing capacity and a strong pan-India collection network, the company is positioned to capitalize on the growing demand for sustainable packaging solutions.

Despite challenges in raising equity capital from venture funds, ReCircle successfully onboarded investors like Flipkart Ventures, Acumen, and 3iPartners in 2023. Tracxn recently valued the startup at $7.79 million as of October 2023.

Allied Blenders and Distillers Teams Up with Ranveer Singh for New Luxury Spirits Venture

By
Garima Bansal
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0

Allied Blenders and Distillers Limited (ABDL) has partnered with Bollywood actor Ranveer Singh in a new luxury spirits venture, where Singh has become an equity partner. This collaboration is aimed at leveraging Singh’s market influence and creative expertise to enhance ABDL’s luxury segment while distinguishing it from its mass-market products.

The company emphasized that the partnership would allow quicker decision-making, adaptability to market trends, and specialized marketing strategies tailored to luxury spirits. Alok Gupta, ABDL’s Managing Director, expressed confidence in the venture, highlighting the synergy between innovation and Singh’s dynamic personality, ensuring the luxury offerings resonate with consumers.

As Indian consumers increasingly shift toward luxury products, ABDL aims to make a substantial impact in the premium spirits sector. Ranveer Singh noted that this initiative is about more than just high-end products; it’s about meeting the aspirations of Indian consumers by blending world-class quality with India’s rich flavors.

ABDL plans to launch its own brands, collaborate with Indian startups, partner with international brands, and capitalize on its extensive sales and manufacturing networks with focused go-to-market strategies.

LiaPlus AI Secures Rs 2 Crore in Seed Funding to Enhance AI-Driven Customer Support Solutions

By
Garima Bansal
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0

LiaPlus AI, a customer support solutions provider, has raised Rs 2 crore in a seed funding round led by Inflection Point Ventures, with participation from Chandigarh Angel Network and Growth91. The funds will be used to enhance product and technology advancements, expand the team, and boost sales and marketing efforts.

Founded in 2023 by Shailesh Jaiswal and Smridhi Seth, LiaPlus leverages AI to provide customer support in 18 languages, handling millions of calls per hour and interpreting customer emotions. The platform operates 24/7 across India, the Middle East, Africa, and Australia, offering businesses a quick and efficient way to hire customer support employees through an AI-driven task management system.

LiaPlus uses high-quality data and prompts to train its AI models, ensuring accuracy and relevance. With real-time interactions and less than 400 milliseconds of latency, it integrates seamlessly with B2B systems, making it easy for businesses to adopt. The platform offers cost-effective pricing while maintaining top-quality service.

Targeting industries like BFSI and e-commerce, LiaPlus has formed strategic alliances across various regions, customizing its platform to provide multilingual support and meet local market needs.

Venture Catalysts and 1Crowd back Nautical Wings Aerospace

By
Garima Bansal
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0

Nautical Wings Aerospace, a company specializing in electric propulsion technology for the aviation industry, has raised pre-Series A funding from Venture Catalysts and 1Crowd for an undisclosed amount. The funds will be used to enhance R&D efforts, expand the team of expert engineers, and scale operations to meet the increasing global demand for electric propulsion solutions in aviation.

Founded in 2020 by Shiv Varun Singh Rajput, Praveen T, and Vikas Kamath, Nautical Wings Aerospace develops customized propulsion solutions for OEMs worldwide. The company’s flagship product, the Integrated Electric Propulsion Unit (iEPU), is designed as a turnkey solution to simplify adoption for drone manufacturers and air mobility companies. Operating on a B2B model, Nautical Wings provides enterprise hardware technology to aircraft OEMs.

The electric aircraft propulsion market is projected to grow significantly, with a CAGR of 15.3%, expanding from $6.5 billion in 2022 to $20.3 billion by 2030, offering substantial opportunities for Nautical Wings Aerospace. The iEPU features a plug-and-play design for seamless integration across various aircraft, catering to specific client needs and streamlining the development process for drone and air mobility manufacturers, accelerating their time-to-market.

Bandhan Bank Partners with Ashok Leyland to Offer Vehicle Financing Solutions

By
Garima Bansal
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0

Bandhan Bank has formed a strategic partnership with Ashok Leyland to provide vehicle financing solutions to customers. Through this collaboration, Bandhan Bank will offer loans for purchasing Ashok Leyland’s commercial vehicles, targeting fleet operators, small and medium enterprises, and individual buyers.

The partnership aims to enhance vehicle ownership accessibility by providing flexible financing options, competitive interest rates, swift processing, and minimal documentation requirements. The financing solutions will encompass Ashok Leyland’s extensive vehicle portfolio, including trucks, buses, and light commercial vehicles.

This collaboration is set to boost Bandhan Bank’s expanding vehicle loan portfolio while also broadening Ashok Leyland’s customer base, making it easier for buyers to access financial support for their vehicle purchases.

A backpacker hostel chain the Hosteller raises $4 million from V3 Ventures, others

By
Garima Bansal
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0

The Hosteller, a leading backpacker hostel chain, has raised $4 million (approximately Rs 32 crore) at a valuation of around $25 million in a funding round led by V3 Ventures. The round also saw participation from existing investors such as LV Angel Fund, FAO Ventures, Synergy Capital Partners, Unit-e Consulting, Ice.VC, and Thrive Ventures. The funds will be used to fuel The Hosteller’s expansion plans, with the company aiming to increase its footprint to over 150 locations across India in the next 24 to 30 months.

Founded in 2014, The Hosteller currently operates in 60 locations across India, including major metropolitan areas and popular tourist destinations in Himachal Pradesh, Uttarakhand, Karnataka, and other scenic regions. Pranav Dangi, founder and CEO, emphasized the company’s commitment to enhancing travel experiences for the backpacker community while focusing on sustainable growth. The launch of Glu, a comprehensive tech concierge service, is part of their initiative to set new standards in the hospitality industry.

CFO Saksham Khemka highlighted the company’s rapid expansion, noting a fourfold increase in locations over the past three years. The Hosteller plans to maintain this momentum by adding four to five new hostels each month. For the fiscal year ending March 2024, the company reported revenue of Rs 55 crore along with positive net margins.

Arjun Vaidya, partner at V3 Ventures, praised The Hosteller for its strong position in the consumer and travel sectors, attributing its success to exceptional execution. Apurva Patel of Synergy Capital Partners also commended the team’s excellence in on-ground execution, effective capital utilization, and strong customer engagement, setting a high standard in the industry.

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