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Harsha Bhogle Joins Alt DRX as Brand Ambassador, Pioneering a New Era in Real Estate Investment

Alt DRX, an innovative digital real estate marketplace, has announced the appointment of renowned cricket commentator Harsha Bhogle as its brand ambassador. This collaboration represents a key step forward in the company’s vision to transform real estate investments in India’s emerging markets. Alt DRX is harnessing the power of Blockchain-based Asset Tokenisation technology, aiming to make high-value assets like real estate, art, and antiques more accessible to a broader audience.

Best known as the “Golden Voice of World Cricket,” Harsha Bhogle’s partnership with Alt DRX aligns his influential persona with the company’s mission. His vast experience and credibility make him an ideal advocate for the brand, especially as it seeks to educate the public on Blockchain-driven real estate investment. Bhogle’s decision to endorse Alt DRX reflects his belief in the company’s ability to redefine asset ownership through its groundbreaking technology.

Avinash Rao, Co-founder of Alt DRX, expressed his enthusiasm for the partnership, saying, “We are excited to have Harsha Bhogle on board as we work towards democratizing real estate investment in India. His unique talent for simplifying complex ideas aligns perfectly with our goal of making property investment as intuitive and engaging as following a cricket match.”

The partnership will see Bhogle featured in a 360-degree marketing campaign across various platforms, targeting both experienced investors and newcomers to the market. Alt DRX caters to a wide demographic, and Bhogle’s universal appeal makes him an ideal choice to engage with this diverse audience.

In his role, Bhogle will spearhead brand communication efforts, helping to demystify property investment for the masses. “Just like cricket opens doors to new opportunities, Alt DRX is creating pathways for individuals to invest in real estate. I’m excited to show how this platform can change the game for investors,” Bhogle shared.

This partnership is expected to significantly boost Alt DRX’s brand visibility and user growth as it expands its reach. With Bhogle’s trusted voice leading the way, the company is well-positioned to revolutionize the real estate investment landscape through its innovative financial solutions.

Alt DRX operates within the Innovation sandbox of major financial regulators, including IFSCA in GIFT City, Gujarat, and Qatar Financial Services Authority, solidifying its place as a leader in the Fintech space.

GlobalBees Secures Full Ownership of The Butternut Co with an Additional INR 8 Cr Investment

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GlobalBees, a subsidiary of FirstCry, has strengthened its foothold in the healthy snack industry by acquiring the remaining stake in the D2C brand The Butternut Co. With a fresh investment of INR 8 Cr, GlobalBees has increased its ownership to 100%.

The latest investment allows GlobalBees to acquire the remaining 24% stake previously held by The Butternut Co’s cofounders, Sahil and Ankita Kukreja. As per an official filing, GlobalBees, which already owned 76% of the company, now holds full control.

Financial data from FirstCry’s red herring prospectus (RHP), filed in August, reveals substantial growth for The Butternut Co in FY24. The company’s revenue from operations soared by 57%, reaching INR 11.14 Cr compared to INR 7.09 Cr in FY23. Despite the significant increase in revenue, the company posted a loss of INR 1.61 Cr for FY24, improving from a loss of INR 2.77 Cr in the previous year. Its current net worth stands at INR 5.8 Cr.

The Butternut Co, established in 2016 by Sahil and Ankita Kukreja, specializes in nut-based products like almond, seed, and peanut butters, which it sells directly through its online store. GlobalBees first invested in the brand in 2022, marking the beginning of its partnership with the health-focused snack company.

In addition to The Butternut Co, GlobalBees has actively invested in various D2C brands, including HealthVit, Top Gummy, UrbanGabru, Urban Yog, and Kuber Industries. Recently, GlobalBees increased its stake in another brand, The Clownfish, with an INR 5.88 Cr investment, securing an additional 22.5% ownership in the company.

GlobalBees, founded by Nitin Agarwal and Supam Maheshwari, focuses on acquiring and scaling brands that sell on ecommerce platforms like Amazon India and Flipkart. Its diverse portfolio also includes brands such as The Better Home, andMe, Absorbia, Prolixir, and Rey Naturals.

In the first quarter of FY25, GlobalBees reported a 26% growth in operating revenue, reaching INR 324.5 Cr, up from INR 256.5 Cr in the same quarter last year. Meanwhile, its parent company, FirstCry, reduced its net loss by 31% year-on-year, posting a loss of INR 75.68 Cr. FirstCry also saw a 10% increase in operating revenue, amounting to INR 1,652.07 Cr in Q1 FY25.

Following these developments, FirstCry shares closed 2.9% higher at INR 643.80 on the BSE.

This acquisition marks a significant milestone in GlobalBees’ efforts to expand its presence in the health and wellness space, reinforcing its commitment to nurturing innovative D2C brands.

Former Ad Professionals Launch ‘Itch’—A New Agency with a Creative Edge

The advertising world welcomes a new contender—Itch, a digital agency launched by industry veterans Surbhi Allagh, Apoorva Deep, and Naman Agarwal. Their goal is straightforward: to produce campaigns that not only captivate audiences but leave a lasting impression.

Itch operates with more than just creativity at its core. The agency is built on adaptability and a strategy that balances structure and innovation, aiming to address the growing need for substantial, forward-thinking campaigns that go beyond the usual noise.

“Our aim with Itch is not simply to do something different, but to change how it’s done. With audiences bombarded by excessive messaging, we constantly ask ourselves, how can we communicate in a way that doesn’t feel like an ad? It’s about crafting stories that engage people on a deeper level,” said Naman, co-founder and creative director of Itch.

Apoorva, co-founder and leader of Growth and Talent, emphasized the agency’s focus on both creativity and people. “Itch is not just about the brands; it’s about fostering an environment where bold ideas and talent can thrive. Agility is key in today’s marketplace, where brands need more than surface-level solutions. Being able to adapt quickly is crucial.”

Surbhi, co-founder and operations lead, explained how the agency ensures creativity flows efficiently. “Managing an agency is all about balancing flexibility with structure. We’ve created processes that allow our team to execute bold, innovative ideas with consistency and precision. Our approach focuses on making things work smarter, not harder.”

Blending creativity and strategic thinking, Itch is set to redefine how brands and talent collaborate, aiming to make a significant impact in the advertising space. With several key accounts already secured, the agency is gearing up for future success. Their focus on creativity, strategy, and meticulous execution makes them a standout player in the industry, poised to deliver extraordinary work.

Venture Catalysts Leads Seed Funding for Aikenist’s AI Medical Imaging

Venture Catalysts, a prominent incubator and accelerator platform, has spearheaded the seed funding round for Aikenist, a company revolutionizing radiology and medical imaging with advanced AI-based workflow solutions. The funding round also saw participation from leading investors, including MARL Fund, Quant Fund, Nandak Growth Catalysts, and notable angel investors, offering Aikenist a strong foundation of expertise and resources for its growth journey.

Miloni Ghatalia, Senior Associate at Venture Catalysts, played a crucial role in facilitating the investment, which marks a significant step forward for Aikenist. The fresh capital will be directed toward enhancing the AI capabilities of its flagship platform, QuickSuite, while also expanding market reach and advancing research and development efforts. The press release noted that this funding will accelerate Aikenist’s mission to redefine medical imaging and radiology.

Apoorva Ranjan Sharma, Co-Founder and Managing Director of Venture Catalysts, stated, “Aikenist is pioneering the future of medical imaging. Their cutting-edge use of AI to improve healthcare aligns with the global push for more efficient and accessible healthcare systems. We believe Aikenist has the potential to transform the $186 billion radiology market in India and the U.S. This investment reaffirms our commitment to supporting groundbreaking innovations that have the power to reshape industries and improve lives.”

Founded by Ashwin Amarapur, Aikenist is on a mission to make medical imaging more accessible, especially for treating critical conditions like cancer, stroke, and neurological disorders. With a flexible SaaS business model, the company offers both subscription and pay-per-use options, making its technology adaptable to healthcare providers of all sizes, from small clinics to large hospital networks.

Aikenist’s flagship platform, QuickSuite, is an AI-powered solution designed to streamline radiology workflows, from scan acquisition to analysis and reporting. It features QuickRad, QuickScan—a patented MRI scanning technology—and QuickDiag, a suite of tools for detecting and quantifying diseases. With over 300 installations in India and internationally, Aikenist is processing about 40 million images per month and continues to grow rapidly.

Ashwin Amarapur, the company’s founder, highlighted the impact of their technology: “We are focused on delivering faster, affordable, and efficient medical imaging. Our patented solution cuts MRI scan times by 70% and reduces radiology reporting times by 80%, enabling faster patient interventions, particularly in critical conditions like stroke and trauma. We are democratizing access to medical imaging, making it more affordable and accessible to people worldwide. We appreciate the strong backing from our investors in helping us achieve this mission.”

This funding round positions Aikenist to advance its cutting-edge technology further and continue its mission to transform medical imaging and healthcare accessibility.

Waycool Secures ₹100 Crore in Debt Funding to Propel Agritech Ventures

Chennai-based agritech supply chain startup Waycool has successfully raised ₹100 crore (approximately $12 million) in debt financing from Grand Anicut, according to recent filings with the Registrar of Companies.

The company’s board has authorized a capital infusion via 1,000 Series B6 debentures, priced at ₹10 lakh each, to accumulate the funds. This debt is associated with a competitive interest rate of 18% per annum and has a repayment period of 18 months. Waycool intends to utilize this capital primarily for sustaining its current operations and expanding its core activities within the agricultural supply chain.

Founded by Karthik Jayaraman and Sanjay Dasari, Waycool specializes in sourcing fresh produce, including dairy products, directly from farmers to supply retailers and restaurants. In addition, the startup has developed private label brands and offers supply chain solutions for fast-moving consumer goods (FMCG) companies. To date, Waycool has attracted around $160 million in funding from notable investors, including Lightrock, the International Finance Corporation, FMO, and 57 Stars.

Previously, Waycool was engaged in talks to secure an additional $50 million, which could have elevated its valuation to between $900 million and $1 billion. However, those negotiations did not come to fruition, leaving the company’s valuation at $700 million based on the latest equity round.

In July, Waycool implemented cost-control measures that included laying off 200 employees across various departments and locations, including Chennai, Bengaluru, and Hyderabad, as well as its subsidiaries, CensaNext and BrandNext. The startup is actively pursuing profitability, with a target date set for July 2023. Despite facing these hurdles, Waycool reported a significant 62% increase in operating revenue for FY23, reaching ₹1,251 crore, although its losses also surged by 89%, amounting to ₹685 crore during the same timeframe.

ClayCo Cosmetics Secures $2 Million Investment from Unilever Ventures

The premium skincare brand, known for integrating ancient global beauty rituals with cutting-edge science, plans to utilize the funds to broaden its product range, enhance branding, marketing initiatives, and strengthen working capital.

ClayCo Cosmetics, a premium skincare brand, has successfully raised $2 million (approximately Rs 16 crore) from Unilever Ventures, the venture capital division of Unilever. The company, which focuses on delivering high-performance skincare solutions to the Indian market, made the announcement in a recent statement.

Founded in March 2024 by Niharika Jhunjhunwala, ClayCo is built on the fusion of traditional beauty practices from around the globe and modern scientific advancements. The company currently offers its products through its website and several e-commerce platforms.

“With this funding, we can amplify brand visibility, introduce new products, and invest further in R&D, all of which will propel our growth. As consumers grow increasingly conscious of global ingredients like fermented rice, ginseng, and CICA, they are willing to invest in premium, effective skincare,” said Jhunjhunwala. ClayCo also plans to launch new products, including a body care range inspired by Moroccan beauty rituals.

In the highly competitive skincare sector, the Mumbai-based brand rivals players like Minimalist (backed by Peak XV Partners), Pilgrim (supported by Vertex Ventures), Plum (backed by A91 Partners), Dot & Key by Nykaa, Mamaearth, and The Derma Co., both under Honasa Consumer.

Pawan Chaturvedi, Partner for Asia at Unilever Ventures, commented on the investment, saying, “We are excited to partner with ClayCo as they aim to redefine India’s beauty industry by introducing innovative global beauty rituals that highlight individuality.”

Earlier in June, another D2C skincare company, Foxtale, secured $18 million (Rs 150 crore) in funding led by Singapore-based Panthera Growth Partners.

ePlane Company Set to Launch Manned Trials by April 2025, Pursuing Key Certifications

The ePlane Company, an IIT Madras-incubated startup focused on electric vertical take-off and landing (e-VTOL) technology, is gearing up to begin manned trials of its aircraft by April 2025. The company has been developing these e-VTOL vehicles, which are designed to carry passengers, over the last few years.

According to Professor Satya Chakravarthy, the startup’s CEO, the first manned prototype is expected to be completed by April next year. He further revealed that additional prototypes would follow in quick succession, with the second version planned for September 2025 and the third by December of the same year.

Currently, the company is in the process of obtaining the necessary approvals from the Ministry of Civil Aviation to conduct the trials. The Ministry introduced specialized requirements in September 2024 that e-VTOL aircraft must meet to receive type certification (TC), which ensures the airworthiness of the aircraft and its components.

“We applied for the type certification previously, and we are now reapplying under the new vertical take-off and landing aircraft regulations,” Chakravarthy explained. The startup is also pursuing propeller certification under European Air Safety Agency (EASA) regulations, and it is working toward acrobat certification as well.

In 2022, ePlane Company secured $5 million in pre-series A funding, led by investors such as Speciale Invest and Micelio. The startup is currently seeking additional funding to support product development and meet various regulatory requirements, including approvals from the DGCA and EASA.

In addition to leading ePlane, Chakravarthy is a co-founder of several other deep-tech startups incubated at IIT Madras, including Agnikul Cosmos (a space tech company), Aerostrovilos Energy (which focuses on micro gas turbines), TuTr Hyperloop (dedicated to hyperloop technologies), and X2Fuels (working on thermochemical processes).

IG Drones Raises $1 Million to Advance R&D and Defense Innovations

Drone technology startup IG Drones has secured $1 million in a funding round led by India Accelerator, with contributions from other angel investors. The newly raised capital will be primarily used to bolster research and development efforts, specifically targeting the creation of advanced drone solutions tailored for defense applications. The company is also planning to raise an additional $3 million over the next six months to expand its operations both domestically and internationally.

IG Drones, which is backed by the Ministry of Electronics and Information Technology, aims to direct a significant portion of the funding towards developing cutting-edge drone technology designed for the growing demands of the defense sector. The startup has already made a name for itself in the drone industry by creating innovative solutions and is now focused on scaling up these operations.

Bodhisattwa Sanghapriya, founder and CEO of IG Drones, expressed his enthusiasm for the company’s future, stating that this funding will accelerate their growth trajectory. “Our primary focus is on innovation in drone technology and expanding our global footprint. This investment will support our plans for advanced R&D, talent acquisition, and expanding our market presence. We aim to solidify our position as leaders in drone tech and artificial intelligence,” he said.

Founded by Sanghapriya and Om Prakash, IG Drones specializes in the manufacturing of drones and offers a range of services such as surveying, mapping, and inspection. The company has already established partnerships with key entities, including the Indian Army, several state governments, and over 100 large enterprises. Notably, IG Drones claims to have developed India’s first 5G-enabled drone, a milestone that highlights its leadership in the industry.

In 2023, IG Drones took another step forward by partnering with Korean drone solutions startup Igis, further expanding its reach. The company currently operates in five countries and has ambitious plans to increase its global presence as part of its expansion strategy.

Commenting on IG Drones’ success, Ashish Bhatia, founder and CEO of India Accelerator, praised the startup for its innovative contributions to drone technology. “IG Drones is driving the future of aerial technology, pushing the boundaries of what is possible with its advanced tech solutions. Their innovations are transforming operations across various industries, enhancing efficiency and scalability in remarkable ways,” Bhatia remarked.

India’s drone technology sector has seen a surge in investor interest in recent months. In July, drone-based business intelligence provider Aereo raised $15 million in a Series B round, while in June, drone delivery logistics company Skye Air secured $4 million in a funding round led by multiple investors. According to industry estimates, the Indian drone market, which was valued at Rs 29 billion in 2020, is expected to grow to Rs 2.5 trillion by 2030, indicating substantial opportunities for growth. IG Drones is well-positioned to capitalize on this burgeoning sector.

Mahindra & Mahindra Records 24% Surge in SUV Sales for September FY25

Mahindra & Mahindra (M&M) achieved a significant 24% rise in SUV sales in September, selling 51,061 units compared to 41,267 in the same month last year. Total vehicle sales also saw an impressive uptick of 16%, reaching 87,839 units during the month.

So far in the fiscal year, the company has sold 2,60,210 SUVs, a notable increase from the 2,14,914 units sold during the same period last year.

In the domestic passenger vehicle segment, Mahindra sold 51,062 vehicles, marking a 24% growth. When factoring in exports, the overall sales reached 52,590 vehicles. On the commercial vehicle front, domestic sales hit 23,706 units, while vehicle exports stood at 3,027 for September.

However, Mahindra’s Light Commercial Vehicles (LCV) category under 3 tonnes experienced a 13% decline in sales, dropping to 3,444 units from 3,941 in the previous fiscal year. The LCV 2T-3.5T segment also saw a slight dip, falling 3% to 16,988 units for September.

In contrast, sales of LCVs above 3.5 tonnes experienced a surge, rising by 25% compared to the 2,618 units sold in September 2023.

Veejay Nakra, President of M&M’s Automotive Division, commented, “We achieved a strong performance this September with 51,062 SUVs sold, reflecting a 24% increase, and total vehicle sales of 87,839, showing 16% growth. This month also marked the launch of the all-new VEERO in the sub-3.5 ton LCV segment, built on India’s first multi-energy modular CV platform. The VEERO has garnered positive market feedback for its class-leading mileage, advanced safety features, and premium cabin experience. Additionally, as we enter the festive season, we are excited to begin bookings for the much-anticipated Thar RoXX on October 3.”

Cleartrip Boosts Media Investment by 15–20% to Enhance Digital Strategy and Travel Experiences

Cleartrip is experiencing a significant uptick in bus ridership, while air travel is fundamental to their business, the segments for hotels and buses are rapidly expanding. Following the pandemic, there’s been a marked increase in Indians opting for weekend getaways, moving beyond the traditional two vacation trips annually. Cleartrip plans to aggressively target this trend, especially with its upcoming third installment of the Big Billion Day (BBD), a seasonal discount event introduced after its acquisition by Flipkart.

Elaborating on the campaign “Life mat jhelo, bas niklo,” Bhatia shares, “Life presents challenges for many—people often juggle multiple responsibilities in both their personal and professional lives. Travel offers a vital escape from this stress. However, many perceive travel as financially out of reach. Our goal during BBD is to encourage people to seize the moment and travel when attractive deals arise.”

Bhatia, who stepped into the CMO role six months ago, is driven by her vision for Cleartrip. She asserts, “I’m stepping into a significant position, and our collective vision is that the OTA sector is currently underserved. In comparison to competitors like MakeMyTrip and Agoda, there exists substantial potential for a challenger brand like ours to enhance customer experiences. Cleartrip has cultivated a loyal following due to our user-friendly interface, and I intend to build on that foundation.”

Over the past year, Cleartrip’s media expenditures have surged by approximately 20%, primarily focusing on digital channels. “We utilize the full range of Google and Meta platforms, as well as connected TV and impactful advertising opportunities. Collaborating with platforms like CRED, which align perfectly with our audience, is a key strategy. Overall, our focus is primarily digital, which enables us to pursue a wide array of objectives, from brand awareness to conversion strategies,” explains Bhatia.

While air travel remains the cornerstone of Cleartrip’s offerings, the newer categories of hotels and buses are demonstrating exceptional growth. “We introduced a unique Bus Pass model based on insights that many customers frequently use the same routes. This subscription service is yielding impressive results, with our bus segment expanding nearly 150% year-on-year,” Bhatia shares.

Additionally, Cleartrip has recently entered the train travel market and anticipates substantial growth in this sector as well. “We’re also making initial forays into travel packages, which is another promising area for expansion,” she notes.

The company’s primary markets include major metropolitan areas, with popular leisure destinations such as Goa, Rajasthan, and Kerala. Internationally, destinations like Thailand, UAE, Malaysia, and Singapore are performing well, alongside emerging locations like Almaty as travelers begin to explore new options.

Cleartrip’s target demographic continues to be urban, affluent millennials, with a growing interest in the Gen Z segment through its partnership with Flipkart. A significant goal is to ramp up the organic user base. “We aim for growth rates that exceed the industry standard by four to five times. Additionally, we seek to decrease our dependence on paid platforms like Skyscanner. Although we will still utilize them tactically, we aspire for most of our customer traffic to come from organic sources, fostering stronger connections with our clients,” she explains.

Bhatia also highlights international travel as a growing market, as more Indians are venturing abroad. “We want to inspire travelers to consider their first significant international trips to destinations beyond Southeast Asia or the Middle East, such as Europe, the US, and Australia,” she states.

While acknowledging some sluggishness in domestic growth, Bhatia identifies substantial potential in international markets. “This is an area where we aspire to take on a more prominent role. We aim to enhance our service offerings and overall travel experiences, especially for long-haul flights, to distinguish ourselves,” she asserts.

When discussing the hotel sector, Bhatia points out the need for personalization in a market that has often prioritized variety. “My preferences for accommodations have evolved significantly since becoming a parent. The type of property I would choose now is vastly different from what I would have selected in my twenties,” she concludes.