Vedix, a leading customised Ayurvedic personal care brand, has embarked on its offline expansion journey with the launch of an exclusive shop-in-shop store in collaboration with Shoppers Stop. The inaugural store has opened its doors at Shoppers Stop, Garuda Mall in Bengaluru, marking a significant milestone for Vedix in enhancing its retail presence.
Jatin Gujarati, Business Head at Vedix, expressed gratitude for the partnership with Shoppers Stop, highlighting their strong online presence in India and globally and their exciting foray into offline retail. The collaboration aims to bring a premium, customised Ayurveda beauty experience to Shoppers Stop customers.
Central to this partnership is the introduction of advanced hair and skin analyzers, innovative devices that provide detailed insights into customer issues, enabling precise product recommendations and enhancing efficacy. These industry-first analyzers, along with other innovations such as Ayutree and AyuPods, are set to differentiate the shopping experience at Shoppers Stop and drive significant customer engagement, Gujarati noted.
Vedix’s product range includes customised hair care, skincare, and immunity products formulated by Ayurvedic experts to cater to specific consumer needs. The company has introduced Ayutree, an IoT-enabled device that dispenses real-time, customised oil samples based on customer selections made on a tablet interface. Customers can also opt for AyuPods, exclusive to Vedix stores, which further enhance customisation options for achieving specific hair and skin goals.
With an impressive Annual Recurring Revenue (ARR) of Rs 150 crore and a customer base exceeding 15 million, Vedix continues to innovate in the Ayurvedic beauty segment, blending traditional wisdom with modern technology to deliver personalized wellness solutions.
Biju Kassim, Customer Care Associate and CEO of Beauty at Shoppers Stop, expressed enthusiasm about welcoming Vedix onboard. He highlighted the partnership as an opportunity for Shoppers Stop customers to experience personalized Ayurveda integrated with cutting-edge skincare and haircare solutions. The collaboration underscores Shoppers Stop’s commitment to offering immersive, modern retail experiences and expanding its range of personalized product offerings in-store.
The partnership between Vedix and Shoppers Stop represents a convergence of traditional Ayurvedic expertise and contemporary retail innovation, poised to redefine customer expectations in the beauty and wellness space. As Vedix continues to expand its offline footprint, the collaboration promises to introduce more consumers to the transformative benefits of personalised Ayurvedic care.
Watch Your Health, a Mumbai-based health-tech startup, has successfully raised $5 million in a seed funding round co-led by Cornerstone Ventures and Conquest Global, a Singapore-based investor. This significant capital infusion will be pivotal in scaling operations and expanding its user base both locally and internationally, while also enhancing its technological infrastructure and platform capabilities, the company announced in a recent press release.
The platform utilizes advanced analytics to deliver personalized health recommendations, including guidance on diet management, suitable exercise regimens, and lifestyle adjustments, aimed at enhancing customer engagement and overall health outcomes.
In addition to its current offerings, Watch Your Health has ambitious plans to introduce electronic behavior records, bolster mental health support, and deploy advanced predictive analytics for disease prevention. These initiatives are designed to facilitate chronic disease management and post-hospitalization care programs, underscoring the company’s commitment to comprehensive health management solutions.
The startup has forged strategic partnerships with prominent healthcare providers such as Watania Takaful and Shalina Healthcare in the UAE, integrating their services seamlessly into its platform. This collaborative approach enhances Watch Your Health’s ability to deliver holistic healthcare solutions tailored to diverse customer needs.
With this latest infusion of capital, Watch Your Health is poised to accelerate its growth trajectory and continue making strides in transforming healthcare delivery through innovative digital solutions.
Fabriclore, a pioneering fabric sourcing platform tailored for fashion enterprises, has successfully raised $1.6 million in its latest funding round led by PeerCapital and Regal Fabrics. This infusion of capital marks a significant milestone for the company as it gears up to bolster its footprint across strategic markets such as India, the Middle East, Europe, and the USA.
Founded in 2016 by Vijay Sharma, Sandeep Sharma, and Anupam Arya, Fabriclore has carved out a niche by offering end-to-end fabric solutions, encompassing fabric discovery, design, dyeing, printing, and stringent quality inspection, all under one roof.
This integrated approach has resonated particularly well with direct-to-consumer fashion brands and multi-brand retailers, allowing them to access customized fabric solutions with lower minimum order quantities.
The recent funding round is earmarked to fuel Fabriclore’s technological advancements, aimed at optimizing operational efficiencies, enhancing customer experiences, and facilitating its expansion into international markets. The company has already demonstrated its capabilities by curating an extensive catalog of 10,000 SKUs sourced from over 550 suppliers across India, establishing itself as a frontrunner in the country’s $20 billion fabric supply chain sector.
In 2023, Fabriclore strategically pivoted towards the B2B segment, swiftly attracting over 200 private labels predominantly from India and the Middle East within just one year. The company operates from a state-of-the-art 10,000-square-foot warehouse equipped with an in-house quality inspection unit. Additionally, strategic partnerships with globally accredited testing laboratories enable Fabriclore to provide clients with certifications tailored to specific quality standards.
The company’s commitment to innovation is further exemplified by the establishment of the Fabric Experience Studio in Jaipur, where customers can engage in a tactile exploration of fabrics sourced from 50 mills. With plans underway to replicate this concept in major cities across India and the UAE, Fabriclore aims to elevate the fabric sourcing experience to new heights.
With this latest funding round, Fabriclore is poised to strengthen its market position and redefine the fabric supply chain landscape with its tech-driven approach, setting the stage for sustained growth and innovation in the fashion industry.
Vinay Dube, CEO of Akasa Air, exudes confidence in the airline’s future amidst rapid expansion plans and a competitive aviation landscape. Established less than two years ago in August 2022, Akasa Air has quickly grown its fleet to 24 Boeing 737 MAX aircraft, operating over 900 weekly flights across domestic and international routes.
Market Confidence and Expansion
Dube emphasizes that the aviation market in India is substantial enough to accommodate Akasa Air’s growth ambitions. “If we focus on ourselves, the market is big enough for us to succeed,” he asserts confidently in a recent interview with PTI. Despite acknowledging competition, Dube maintains a steadfast focus on internal growth strategies rather than external pressures.
Strategic Initiatives and Service Offerings
Currently holding a 4.8 percent domestic market share, Akasa Air has expanded its international footprint to include Doha, Riyadh, and soon Abu Dhabi, with plans for Jeddah, Kuwait, and Medina. The airline prides itself on offering a range of ancillary services, including pet-friendly travel options and a flexible approach to in-flight amenities to cater to diverse passenger preferences.
Employee and Pilot Management
With over 4,000 employees, Akasa Air has temporarily paused pilot hiring while ensuring adequate staffing for its existing fleet. Dube reassures stakeholders about pilot availability and the airline’s commitment to managing pilot fatigue through stringent operational standards and thoughtful rostering practices.
Future Fleet Expansion and Profitability Goals
Looking ahead, Akasa Air anticipates adding more than 200 aircraft to its fleet over the next eight years, supported by a firm order of 226 Boeing 737 MAX planes. Co-founder Aditya Ghosh underscores the airline’s trajectory towards profitability, highlighting operational reliability, customer satisfaction metrics, and a robust load factor as indicators of sustainable growth.
Wify, a Mumbai-based startup specializing in home furnishing installation, has successfully raised Rs 25 crore in a pre-Series A funding round. The investment was co-led by Mount Judi Ventures and existing investor Capria Ventures, with participation from Blume Founders Fund and other undisclosed existing investors.
Founded in 2019 by Vikram Sharma and Deepanshu Goel, Wify acts as a crucial link between modern home brands and skilled technicians. The startup offers a comprehensive SaaS platform that facilitates seamless order management, on-site project coordination, and real-time tracking for both brands and consumers.
The fresh capital infusion will enable Wify to deepen its market presence within existing categories by enhancing value-added services. Additionally, the startup plans to expand into new categories, bolster its workforce, and strengthen its technological infrastructure. These efforts aim to accelerate capacity building and elevate customer service standards.
Wify intends to leverage generative AI to optimize the training and onboarding of technicians, provide on-the-job assistance, and elevate overall customer service quality.
Currently operational across 100 cities in India, Wify boasts a network of over 3,000 technicians. The startup has established partnerships with more than 100 leading global and local brands, including prominent names like IKEA, Amazon, Godrej, and Hettich.
In the B2C segment, Wify competes directly with established players like Urban Company. Meanwhile, in the B2B space, it faces competition from regional service providers such as Mechanic2Home and Easyfix.
This funding round marks a pivotal moment for Wify as it aims to consolidate its market position and drive further growth in the competitive home services industry.
FirstCry, the prominent kids-focused omnichannel retailer, and Unicommerce, an ecommerce SaaS startup, both backed by SoftBank, have received final approval from the Securities Exchange Board of India (SEBI) for their initial public offerings (IPOs).
FirstCry initially filed its draft red herring prospectus (DRHP) in December last year but had to refile in April this year following regulatory directives. The IPO plans include a fresh issue of equity shares amounting to Rs 1,816 crore and an offer for sale (OFS) of up to 54,391,592 equity shares. The company disclosed revenue of Rs 4,814 crore and net losses of Rs 278 crore until Q3 FY24 in its revised DRHP.
On the other hand, Unicommerce filed its DRHP in January this year and plans to raise funds through an offer for sale (OFS) of up to 2,98,40,486 equity shares, without any fresh issue of shares.
SEBI’s recent approvals for FirstCry and Unicommerce mark a significant step as both companies prepare to enter the public market. Earlier, SEBI also approved the IPO of Ola Electric, another SoftBank-backed entity aiming to raise Rs 5,500 crore ($660 million).
The IPO landscape in India has been active this year, with several internet companies already listed and others awaiting regulatory approval, including Mobikwik, Swiggy, and Avanse. Logistics startup Blackbuck, online meat marketplace Zappfresh, and electric scooter manufacturer Ather are also expected to pursue IPOs soon after their recent conversions into public entities.
This flurry of IPO activity underscores the robust investor interest in Indian startups and tech-enabled businesses, positioning them for significant growth opportunities in the public market.
Purplle, the online marketplace for beauty and grooming products, has successfully raised Rs 1,000 crore (approximately $120 million) in its latest funding round led by a subsidiary of the Abu Dhabi Investment Authority (ADIA), along with participation from other investors.
Founded and led by Rahul dash and Manish Taneja, Purplle operates not only as a marketplace but also markets its own labels such as Good Vibes, catering to beauty needs across tier II, III, and micro-markets in addition to metro cities.
The funding round comprises a mix of primary and secondary shares, although Purplle has not disclosed its current valuation, estimates place it between $1.2 billion to $1.3 billion, according to media reports.
In addition to the funding, Purplle has unveiled its largest-ever Employee Stock Ownership Plan (ESOP) liquidity program worth Rs 50 crore ($6 million). The company has distributed ESOPs to 320 employees to date, with 85 employees having already liquidated ESOPs totaling Rs 75 crore ($9 million) through three previous buyback programs.
Purplle claims operational profitability and has reported significant growth, quadrupling its Gross Merchandise Value (GMV) over the past three years. The company aims to accelerate growth on its online platform, expand offline stores, and enhance profitability moving forward.
For the fiscal year ending March 2023, Purplle reported operating revenue of Rs 475 crore, alongside a loss of Rs 230 crore, as per data from startup intelligence platform TheKredible. In the preceding fiscal year (FY22), the company reported revenue of Rs 219 crore with losses amounting to Rs 203 crore.
This funding round marks Purplle’s second secondary transaction within a year, following JSW Ventures’ exit in October 2023, acquired by Manipal Education & Medical Group Family Office (MEMG).
Zomato, a prominent player in food delivery and quick commerce, disclosed receiving a tax demand notice totaling Rs 9.5 crore from the Karnataka commercial tax authority. This sum includes interest and penalties and relates to an audit of GST returns for the financial year 2019–20.
In response, Zomato has confirmed its intent to appeal the order, expressing confidence in its position. “We believe that we have a strong case on merits, and the company will be filing an appeal against the order before the appropriate authority,” stated Zomato in a regulatory filing.
The tax demand primarily concerns the availability of excess input tax credit, with Zomato asserting that it had provided comprehensive clarifications and supporting documentation during the audit process. Despite the notice, Zomato assured stakeholders that it anticipates no significant financial impact from this development.
This is not the first instance of Zomato facing tax scrutiny. In April 2023, the company received a tax notice amounting to Rs 11.82 crore related to GST on export services. Similarly, in April 2024, another demand of Rs 23 crore was issued for excess input tax credit under GST regulations.
Zomato remains proactive in addressing these tax matters, emphasizing its commitment to contesting adverse rulings to safeguard its financial interests and operational integrity.
Karban Envirotech Pvt. Ltd co-founder, Tanya Goyal exclusively shared her vision with Startup77 regarding the pioneering Karban Airzone, emphasizing its evolution and innovation in home climate solutions.
What inspired you to start Karban Envirotech? Could you share the pivotal moment or insight that led to its creation?
Tanya Goyal : The inspiration for starting Karban Envirotech came from a realization about the inefficiencies and safety concerns associated with traditional air circulation devices, particularly in homes with low ceilings. My extensive background in aerodynamics and a passion for innovation led me to explore better solutions. The pivotal moment was when I saw an opportunity to combine air circulation, purification, and lighting into one efficient and aesthetically pleasing product, leading to the creation of Karban Airzone.
Karban Envirotech’s mission focuses on reducing electricity bills and minimizing environmental impact. How did you develop this vision, and what drives your commitment to sustainability?
Tanya Goyal : Our vision developed from the understanding that modern consumers seek products that are not only functional but also environmentally responsible. Our homes are cluttered with multiple consumer appliances for airflow circulation which in total increases plastic and energy consumption. The commitment to sustainability is driven by the desire to reduce environmental impact by combining various functionalities into one product and providing consumers with products that save on electricity bills and enhance their quality of life.
The Karban Airzone is an innovative product. What were some of the key challenges you faced during its development, and how did you overcome them?
Tanya Goyal : One of the key challenges was engineering the product to meet our high standards of safety, efficiency, and multifunctionality. Developing a bladeless design that integrates air purification and lighting while maintaining powerful airflow was complex. We overcame these challenges through extensive research, prototyping, and iterative testing. Collaboration with experts in various fields also played a crucial role in refining the product.
Could you elaborate on the technology behind the Karban Airzone’s dual zone flow and bladeless design? What sets it apart from other climate control devices in the market?
Tanya Goyal : Karban Airzone’s dual zone flow technology ensures personal thermal comfort by allowing users to tailor the airflow on both sides of the fan. The bladeless design enhances safety, especially in homes with children and low ceiling heights. Bladeless design also reduces noise levels. What sets it apart is the integration of air purification and elegant lighting, making it a multifunctional device that addresses multiple needs simultaneously.
How do the biodegradable filters of the Karban Airzone contribute to your overall sustainability goals? What other eco-friendly practices are integral to your product design and company operations?
Tanya Goyal : The biodegradable filters align with our sustainability goals by reducing waste and environmental impact. A HEPA filter is made up of plastic fibers and takes 1000 years to decompose. On the contrary, our biodegradable filters are made up of natural fibers. They efficiently capture pollutants and can be easily replaced without harming the environment. Other eco-friendly practices include using energy-efficient components and optimizing manufacturing processes to minimize waste.
The Karban Airzone aims to enhance comfort while being energy-efficient. How do you balance these two aspects, ensuring that users get maximum comfort without compromising on energy savings?
Tanya Goyal : Balancing comfort and energy efficiency is achieved through advanced aerodynamic principles like CFD which let us optimize airflow while reducing energy consumption. By allowing multifunctionality in one product, we are able to reduce overall energy consumption. Additionally, features like adjustable speed control and remote operation allow users to tailor the settings to their comfort needs without excessive energy use. Our focus on high-quality, energy-efficient components ensures optimal performance.
Reducing carbon footprints is a key goal for Karban Envirotech. How do your products contribute to this, and what measures do you take to ensure your operations are environmentally friendly?
Tanya Goyal : Our homes are equipped with various consumer appliances, which are all made up of plastic and consume a lot of energy. By providing multifunctionality into one product, we aim to reduce plastic consumption as well as become more energy-efficient. This can significantly reduce the carbon footprint of our consumers. We also aim to reduce wastage in our manufacturing process and use environmentally friendly practices to further reduce our carbon footprint.
What are your long-term goals for Karban Envirotech in terms of environmental impact? Are there any upcoming initiatives or products that align with these goals?
Tanya Goyal : Our long-term goals include becoming a leader in multifunctional home appliances (Ultra Appliances) to reduce environmental impact. Karban is planning to introduce new products in the near future which will help us achieve this goal. We will also be working towards increasing more environmentally friendly practices and materials in our manufacturing process.
We learn a lot from our consumers and thus try to incorporate those in our product ideology and manufacturing. Similarly, we had recently launched a product, Karban Airzone Lite, which is not only meant for low ceiling heights but has various use cases. It can be used as a standalone system on the floor, hung from the ceiling, or mounted on the wall. This was only achieved by customer feedback and learning.
What are your future plans for Karban Envirotech? Are there any upcoming features or expansions that users and stakeholders can look forward to?
Tanya Goyal : Future plans for Karban Envirotech include developing new generations of our products with advanced features such as smart home integration, improved airflow, easy-to-use remote control, and enhanced robustness. We also aim to expand our market reach globally and increase our product offerings to meet diverse consumer needs. Users can look forward to continuous innovation and improved product performance. We are also looking to drive sales through offline channels and create more experience centers to enhance their experiences.
How important is community engagement for Karban Envirotech, and what initiatives do you undertake to educate and involve the community in your mission?
Tanya Goyal : Community engagement is crucial for Karban Envirotech. We believe in educating consumers about the importance of sustainability and how they can contribute to environmental conservation.
Comet, the direct-to-consumer sneaker brand based in Bengaluru, has successfully raised Rs 42.3 crore (approximately $5 million) in its Series A funding round. Elevation Capital spearheaded the investment with Rs 33.36 crore, joined by existing investors Nexus Ventures and AngelList India contributing Rs 8.34 crore and Rs 60 lakhs respectively.
The funding, detailed in a regulatory filing accessed from the Registrar of Companies, involved issuing 10 equity shares and 50,076 Series A CCPS at an issue price of Rs 8,445 each. These funds will support Comet’s capital expenditures, marketing efforts, and general corporate initiatives as outlined in their business plan.
Founded in July 2023 by Dishant Daryani and Utkarsh Gupta Comet focuses on lifestyle sneakers for both men and women, retailing through its own website and featuring products such as CometX, Aeon, and Slides.
Looking ahead, Comet targets a total addressable market (TAM) of $22 billion, with a serviceable addressable market (SAM) projected to reach $1.5 billion by FY 2030. The company competes with both domestic brands like Wrong, HRX, and Redtape, as well as global giants including Nike and Adidas.
Following this Series A round, Elevation Capital and Nexus Ventures will each hold 20% of Comet, with AngelList India commanding 2.22% of the company’s capital structure. This funding round marks a significant milestone for Comet as it continues to expand its market presence and product offerings in the competitive footwear industry
