Microshots 🚀

💰 Paisabazaar CEO Naveen Kukreja Steps Down, Santosh Agarwal to Take Over. 🚀 Major Leadership Reshuffle at PB Fintech. PB Fintech, the parent company of Paisabazaar and Policybazaar, has announced a top-level restructuring, with key leadership changes across its subsidiaries. 👤 Key Leadership Changes: ✔ Naveen Kukreja, Cofounder & CEO of Paisabazaar, has stepped down. ✔ Santosh Agarwal will succeed him as Paisabazaar's new CEO (effective March 1, 2025). ✔ Ashutosh Mishra, CFO of Policybazaar, has resigned, effective March 31, 2025. ✔ Vivek Audichya, CFO of Paisabazaar, will replace Mishra as Policybazaar's CFO. ✔ Neeraj Tripathi has been appointed as Paisabazaar's new CFO, starting March 1, 2025. 💼 Kukreja's New Role at PB Fintech. Although stepping down from day-to-day operations at Paisabazaar, Kukreja will take on the role of PB Fintech’s Group President. He will: 🔹 Advise the company on future strategy for Paisabazaar 🔹 Continue as a Non-Executive Director & Key Managerial Personnel (KMP) 🔹 Explore long-term opportunities within PB Fintech 📊 PB Fintech’s Financial Performance (Q3 FY25) 🔸 5th consecutive profitable quarter 🔸 PAT surged 92% YoY to ₹71.54 Cr (vs. ₹37.23 Cr in Q3 FY24) 🔸 Operating revenue up 48% to ₹1,291.62 Cr 📢 What’s Next for Paisabazaar? Under Santosh Agarwal’s leadership, the company will: 🔹 Expand unsecured & secured lending operations 🔹 Foray into pensions & savings segments 🔹 Leverage insurance opportunities within PB Fintech 📢 Industry Trends & PB Fintech’s Future Moves. ✔ PB Fintech is actively strengthening its leadership as it expands into the healthcare sector. ✔ The company plans a $100 Mn investment to acquire a 30% stake in a new healthcare venture. ✔ Its corporate insurance arm, Policybazaar for Business, recently onboarded Amitabh Dewan to oversee its large corporate risk business. Final Thoughts. This leadership overhaul signals PB Fintech’s aggressive growth strategy as it expands into new financial & healthcare verticals, positioning itself as a dominant player in India’s fintech & insurtech space. #Paisabazaar #PBFintech #Policybazaar #LeadershipChanges #Fintech #StartupIndia #Febupdates

⚙️ Zenduty Acquired by US-Based Xurrent to Strengthen Incident Management Capabilities. 🚀 Major SaaS Exit: Zenduty Joins Xurrent. Titan Capital-backed SaaS startup Zenduty has been acquired by US-based enterprise tech firm Xurrent for an undisclosed amount. The deal will: ✔ Enhance Xurrent’s IT operations management (ITOM) capabilities ✔ Automate incident response & post-incident remediation ✔ Help enterprises reduce downtime & prevent repeat incidents 👤 Statements from the Key Players: 🔹 Xurrent CPO Phil Christianson: "Zenduty’s integration will help Xurrent’s clients automate virtual war rooms, ensure accountability, and resolve incidents swiftly." 🔹 Zenduty Cofounders Vishwa Krishnakumar & Ankur Rawal: “Joining Xurrent marks a new chapter in our journey. Thank you to our customers, partners, and supporters for making Zenduty what it is today.” 🔹 Titan Capital: "This acquisition is a major step in transforming IT operations and incident management." 📌 About Zenduty. 🔸 Founded in 2019 by Vishwa Krishnakumar & Ankur Rawal 🔸 Offers a full-stack incident management platform with: Cross-channel alerts for enterprise teams On-call scheduling for instant issue resolution 150+ integrations for seamless IT ops 🔸 Backed by: Titan Capital, GSF, Powerhouse Ventures, StartupXseed Ventures, Neon Fund, Secure Octane Fund 🔸 Funding Raised (Pre-Acquisition): ~$2 Mn 📌 About Xurrent. 🔸 AI-powered IT services & operations automation 🔸 Streamlines workflows & collaboration for enterprises 🔸 Now an end-to-end IT operations platform with Zenduty’s tech 📢 Why This Deal Matters? 💰 Healthy exits for Zenduty’s investors. 🌍 Boosts India’s SaaS ecosystem with a global success story. ⚡ Strengthens Xurrent’s offerings in incident resolution & root cause remediation. This acquisition highlights India’s growing SaaS strength and the rising demand for AI-driven IT operations management. With Zenduty now powering Xurrent’s automation tools, global enterprises can expect even faster incident resolution and better IT efficiency. Zenduty #Zenduty #Xurrent #SaaS #ITOps #IncidentManagement #StartupExit #Febupdates

💡Lightspeed Appoints Naina Lal Kidwai as Venture Advisor. 🚀 Veteran Banker Joins VC Firm. Multi-stage venture capital firm Lightspeed has onboarded Naina Lal Kidwai as a Venture Advisor to support portfolio companies with: 🔹 Growth operations & strategy 🔹 Navigating regulatory landscapes 🔹 Market expansion guidance 🏦 A Banking & Finance Powerhouse With 40+ years of experience, Kidwai has held leadership roles at: ✔ HSBC India – Retired as Chairperson, Country Head & Group GM (2015). ✔ HSBC Asia Pacific – Board Member. ✔ PwC, ANZ Grindlays, Morgan Stanley – Leadership roles. ✔ FICCI – Former President. ✔ Prime Minister’s Trade & Industry Council – Former Board Member. 🌍 Current Leadership Roles. 📌 Chairperson, Rothschild India. 📌 Senior Advisor, Advent Private Equity & TPG Rise Climate. 🚀 Lightspeed's Growing Influence. The VC firm backs category-defining startups, including: 🔹 Zepto 🔹 OYO 🔹 ACKO 🔹 Razorpay 🔹 Zetwork 📢 Lightspeed Partner Bejul Somaia on Kidwai’s Appointment. "Her unparalleled experience in banking and finance coupled with a visionary approach will be invaluable as we continue to back category-defining companies in India and beyond.” ⚡ Top-Level Changes in VC & PE. The appointment follows a wave of leadership shifts in the sector: 🔸 Investcorp hired Vivek Agarwal (ex-Tech Mahindra) as Senior Operating Partner 🔸 Elevation Capital’s COO Vivek Mathur stepped down after 14 years 🔸 Peak XV saw exits of Shailesh Lakhani & Abheek Anand, marking its third major departure in a year 📊 VC Shakeup & Industry Trends. 🔹 13 major top-level exits in 2023 🔹 Many outgoing investors are launching their own funds to boost capital access for Indian startups What This Means for Indian Startups. With Kidwai's expertise in finance, strategy, and governance, Lightspeed is set to enhance support for its portfolio companies, driving scalable growth & regulatory compliance in India's evolving startup ecosystem. #Lightspeed #NainaLalKidwai #VentureCapital #Banking #Finance #VCFunding #StartupIndia #Leadership #Febupdates

💰 Boss Wallah Acquires Edtech Platform ffreedom. 🚀 Strategic Acquisition. Serial entrepreneur and investor Sashi Reddi's venture Boss Wallah has signed a formal agreement to acquire edtech platform ffreedom from Suvision Holdings. The acquisition aligns with Boss Wallah’s vision of empowering budding entrepreneurs with access to domain experts. 💰 Investment & Funding. Reddi and his associates will infuse $7 Mn (around INR 60 Cr) into Boss Wallah as an initial investment. However, financial details of the acquisition remain undisclosed. 📚 Empowering Entrepreneurs. ffreedom, an edtech platform, offers nearly 1,000 courses across farming, business, and personal finance in multiple Indian languages. The acquisition will enable Boss Wallah to scale its presence in categories such as: 🔹 Digital businesses 🔹 Home-based businesses 🔹 Small-scale manufacturing 🔹 Handicrafts 🔹 Farming & animal husbandry 🔹 Retail & food businesses 🌍 Building a Business-Focused Edtech Platform. While Boss Wallah is yet to be operationalized, it aims to provide entrepreneurs—especially from Tier-II & III towns—with access to industry experts for business growth. 🛠️ Sashi Reddi’s Legacy in Startups & Investments. 🔹 Previously founded AppLabs, sold to CSC (now DXC) in 2011 🔹 Advisor to WestBridge Capital 🔹 Founder & managing partner of SRI Capital, an early-stage VC firm 🔹 Investments include Way2News, Fab Hotels, Healthify, among others 📈 Edtech Sector Consolidation. Boss Wallah's move comes amid a wave of consolidation in India’s edtech sector: 🔹 BYJU’S faces insolvency proceedings 🔹 Unacademy explores a potential sale 🔹 Leap secured $65 Mn in Series E funding (Jan 2025) 🔹 BrightChamps recently acquired Edjust in a cash-and-stock deal Boss Wallah | ffreedom app #BossWallah #SashiReddi #ffreedom #Edtech #StartupAcquisition #Entrepreneurship #Funding #BusinessGrowth #TechInnovation #febupdates

💰 FanTV Secures $3 Mn to Empower AI-Driven Content Creation. 🚀 AI-Powered Digital Creativity. FanTV, an AI-based content platform on the Sui blockchain, has raised $3 Mn (INR 24.9 Cr) in a funding round led by Mysten Labs, with participation from Cypher Capital, CoinSwitch Ventures, and Illuminati Capital. 💡 Funding & Expansion Strategy. The capital will be used to: 🔹 Develop advanced AI tools for seamless content creation 🔹 Expand its global creator network and user base 🔹 Enhance monetization models for creators via tips and personalized creator coins 🎭 Redefining the Creator Economy. Founded in 2023 by Prashan Agarwal (former Gaana CEO), FanTV enables users to create and share AI-generated content, including music, videos, and podcasts. The platform claims to have: 🔹 8 Mn+ users and 80,000+ creators 🔹 Processed over 30 Mn transactions 🔹 AI-powered content creation tools that remove traditional barriers 🪙 Blockchain & AI Convergence. Operating on the Sui blockchain, FanTV integrates AI and crypto to enable: 🔹 Creator monetization through personalized creator coins 🔹 Enhanced engagement with tips and exclusive content access 🔹 Decentralized content distribution 📢 Leadership & Vision. Agarwal previously: 🔹 Scaled Gaana to 180 Mn+ users 🔹 Cofounded PropTiger, which exceeded $500 Mn in GMV 🔹 Launched FanTiger, an NFT marketplace for music artists 🌍 Market Potential & Industry Growth. 🔹 The Indian creator economy is projected to reach $3.9 Bn by 2030 🔹 84% of creators now use AI-powered tools in content production 🔹 AI and blockchain are shaping the future of digital content 📢 Sui Cofounder Adeniyi Abioudin on FanTV: "AI and crypto converging in daily use cases isn’t just the future—it’s already happening. While others are still talking, FanTV has built it—AI agents for content creation, executed at incredible speed.” With AI-driven content and blockchain-powered monetization, FanTV is set to revolutionize digital creativity & the creator economy. #FanTV #AI #ContentCreation #Blockchain #SuiBlockchain #Crypto #CreatorEconomy #TechInnovation #Web3 #StartupFunding

💰 Sisir Radar Secures $1.5 Mn to Revolutionize Imaging Solutions. 🚀 Advancing Space Imaging Technology. Kolkata-based spacetech startup Sisir Radar has raised $1.5 Mn (INR 12.45 Cr) in a seed funding round led by Shastra VC, with participation from Riverwalk Holdings and INVSTT. The funds will bolster R&D capabilities and support the launch of the world’s highest-resolution L-band SAR satellite by 2026-end. 💰 Funding & Strategic Growth. The fresh capital will be used to: 🔹 Enhance SAR (Synthetic Aperture Radar) technology for airborne & spaceborne platforms 🔹 Develop high-resolution L-band SAR satellites 🔹 Expand ground-penetrating radar (GPR) solutions for infrastructure monitoring & bomb detection 🛰️ Pioneering Earth Observation Solutions. Founded in 2022 by Tapan Misra (former ISRO SAC director), Soumya Misra, and Urmi Bhambhani, Sisir Radar specializes in advanced SAR systems operating across P/L/S/C/X satellite frequency bands. 📡 High-Resolution Imaging, Anytime, Anywhere. SAR technology enables: 🔹 All-weather, high-resolution imaging, even in rainy or cloudy conditions 🔹 2D & 3D reconstructions of landscapes for earth observation & defense applications 🔹 Drone-borne hyperspectral imaging solutions 🏆 Strategic Wins & Defense Partnerships. 🔹 India’s first drone-borne SAR system 🔹 Winner of two IDEX challenges to develop SAR satellites for the Indian Air Force (IAF) 📈 Growing Investor Interest in Spacetech. The funding aligns with the Indian spacetech boom, backed by strong government policies: 🔹 IN-SPACe's INR 500 Cr Technology Adoption Fund covering up to 60% of project costs 🔹 INR 1,000 Cr venture capital fund for spacetech startups announced in the Union Budget 🌍 A Thriving Indian Spacetech Ecosystem. The Indian spacetech market is projected to reach $77 Bn by 2030, with startups raising significant capital: 🔹 Astrogate Labs raised $1.3 Mn for laser communication tech yesterday 🔹 Catalyx secured $1.7 Mn in January 2025 🔹 OrbitAID bagged $1.5 Mn in its pre-seed round last month Sisir Radar’s CEO Soumya Misra stated, “We are building world-class earth observation solutions to make India self-reliant and establish it as a global provider of high-resolution satellite imagery.” Sisir Radar #SisirRadar #Spacetech #SatelliteImaging #SAR #EarthObservation #DeepTech #Startups #INSPACe #TechFunding #India2030 #Febupdates

💰 Astrogate Labs Secures $1.3 Mn to Advance Laser Communication Tech. 🚀 Pioneering Space Communication. Bengaluru-based spacetech startup Astrogate Labs has raised $1.3 Mn in a pre-Series funding round led by Piper Serica Angel Fund. The funding will accelerate the development of laser communication terminals, targeting space, terrestrial, and airborne applications. 💰 Funding & Growth Strategy. The capital will be used to: 🔹 Develop high-speed laser communication terminals 🔹 Scale operations and expand partnerships with space agencies & defense organizations 🔹 Enhance solutions for terrestrial mobile and airborne networks 🛰️ Revolutionizing Space Communication. Founded in 2017 by Nitish Singh, Yogeshwaran J, and Subhajit Chakraborty, Astrogate Labs offers end-to-end laser communication systems for secure, high-speed connectivity. Their solutions are designed for cube and nano satellites, enabling space-to-ground and space-to-space communication. 📡 Overcoming Bandwidth Limitations. With over 25,000 small satellites expected in orbit by 2030, traditional radio frequency (RF) systems face bandwidth congestion. Astrogate Labs’ laser communication tech offers: 🔹 Speeds up to 10 Gbps 🔹 Secure & interference-free data transmission 📈 Market Traction & Industry Support. Astrogate Labs is backed by Speciale Invest, Anicut Angel Fund, SuprValue.vc, and FirstCheque.vc. CEO Nitish Singh highlighted that laser communication is gaining rapid traction due to its unmatched throughput and efficiency. 🌍 India’s Spacetech Boom. The Indian spacetech sector is witnessing policy-driven growth, with initiatives such as: 🔹 IN-SPACe’s INR 1,000 Cr venture capital fund for space startups 🔹 INR 500 Cr Technology Adoption Fund launched earlier this month 📉 Funding Trends in Spacetech. According to the Indian Startup Funding Report 2024, total funding in the Indian spacetech sector declined 35% YoY to $81 Mn. However, the number of deals increased from 11 in 2023 to 14 in 2024, reflecting continued investor interest. Astrogate Labs #AstrogateLabs #Spacetech #LaserCommunication #SatelliteTech #SpaceInnovation #TechFunding #Startups #INSPACe #DeepTech #Investment #Febupdates

🚀 Madhya Pradesh Announces GCC Policy to Tap New Investments  State aims to become a digital and technological hub by attracting investments in IT, finance, engineering, and BPO. 📈 Strategic Move for Growth. Madhya Pradesh Chief Minister Mohan Yadav has announced the state’s Global Capability Centre (GCC) Policy 2025, aiming to position the state as a key digital and technological hub. The policy will focus on attracting investments across various sectors, including IT, finance, engineering, and business process outsourcing (BPO). 📊 Policy Implementation. The Madhya Pradesh State Electronics Development Corporation Limited (MPSeDC) has been appointed as the nodal agency responsible for implementing this policy. Additionally, the government has set up a Policy Implementation Unit (PIU) to handle incentive allocations, project approvals, and compliance monitoring. 🌍 Global Investors Summit 2025. Yadav will present the policy at the Global Investors Summit 2025, set to be inaugurated by Prime Minister Narendra Modi in Bhopal. The summit will offer a platform for global investors, industrialists, and policymakers to explore opportunities in the GCC space, with the goal of attracting substantial investment to the state. 📈 Growth in IT & IT-Enabled Services. Madhya Pradesh has seen impressive growth in the IT and IT-enabled services sectors, tripling its exports with a 43% annual growth rate over the last three years. Indore, Bhopal, and Jabalpur are emerging as key hubs for IT and Electronics System Design & Manufacturing (ESDM). 📊 Boom in India's GCC Market. India’s GCC market is witnessing rapid growth, with the number of GCCs increasing by 18% to 1,700 in FY24 from 1,430 in FY19. The growth is driven by the rising adoption of AI and machine learning. Additionally, more than 400 new GCCs have been established, alongside around 1,100 new units. 🔮 Future Plans & Regional Competitors. Madhya Pradesh’s efforts come at a time when other states, like West Bengal, are also working on launching their own GCC policies to attract investments in semiconductors, drones, and the GCC sector. This strategic policy move by Madhya Pradesh is aimed at solidifying the state’s position as a leader in the tech and digital sectors, creating new opportunities for growth and development. #GCCPolicy #MadhyaPradesh #TechHub #DigitalIndia #Investment #AI #MachineLearning #GlobalInvestorsSummit2025 #AatmanirbharBharat #EconomicGrowth #Febupdates

🚀 Labour Ministry Partners with Apna for Job Listings on NCS  Over 10 Lakh job opportunities to be added annually to the National Career Service (NCS) portal. 💼 New Collaboration to Boost Job Prospects.  The Union Labour Ministry has signed a Memorandum of Understanding (MoU) with Apna, an early talent hiring platform, to provide job opportunities to young job seekers. This partnership will add over 10 Lakh job listings annually to the National Career Service (NCS) portal, which was launched in 2015 to connect job seekers with employers. 📈 NCS Portal Growth.  Since its inception, NCS has mobilised over 40 Lakh registered employers and listed 4.40 Cr vacancies, with about 10 Lakh vacancies available at any given time. The portal offers digital services, including job placement, vacancy notifications, and information about training programs. 🤝 Apna's Role in Job Listings.  Under the partnership, Apna will post job listings on NCS, gaining access to its candidate database, while the Labour Ministry will facilitate the integration through both online and offline channels. This collaboration aims to streamline job listings and enhance opportunities for job seekers. 📊 Apna's Growth and Expansion.  Founded in 2019 by Nirmit Parikh, Apna connects over 5.9 Cr job seekers with more than 7 Lakh employers across India. The company became a unicorn in 2021 after raising $100 Mn in a funding round. To date, Apna has raised $193.5 Mn in total funding, backed by notable investors such as Tiger Global, Lightspeed, and Insight Partners. 📉 Financials of Apna.  In FY24, Apna's operating revenue declined by 29% to INR 127.6 Cr, compared to INR 180.2 Cr in the previous fiscal year. However, its net loss reduced significantly from INR 120.3 Cr in FY23 to INR 51.3 Cr in FY24. 📢 Partnerships to Expand NCS.  This MoU with Apna adds to the NCS portal's growing partnerships with private players. In September last year, the Labour Ministry collaborated with Amazon India to post job opportunities for Amazon’s corporate offices and operations on the NCS platform. Furthermore, the ministry is working to enhance the portal with advanced technologies, including AI, to improve its services. #Apna #LabourMinistry #JobOpportunities #NCS #IndianStartups #JobSeekers #TalentHiring #ApnaJobs #JobPortal #WorkOpportunities #SkilledManpower #Febupdates

🚀 Maharashtra on Track to Become India’s AI Capital: CM Fadnavis.  Maharashtra aims to lead the AI revolution in India with new policies and initiatives. 🧠 AI Capital Ambition  Maharashtra is on its way to becoming India's AI capital within the next four to five years, as part of a nationwide push to accelerate AI adoption, announced Chief Minister Devendra Fadnavis. Speaking at the Nascomm Technology and Leadership Forum, he emphasized that the state is actively working on a new AI policy to stay ahead in the AI race. 💡 AI Policy & Collaboration with Microsoft.  The state government has enlisted the help of Microsoft, backer of OpenAI, to train and upskill 10,000 women in AI. Fadnavis stated that the government is determined to make AI accessible to everyone in Maharashtra. The initiative aligns with India's broader AI roadmap set by Prime Minister Modi, who sees AI as a key pillar for the country's future growth. ⚡ Boosting AI Infrastructure.  Maharashtra already leads India with 60% of the country’s data centre capacity. To meet the rising energy demand driven by AI and computing growth, the state plans to increase power generation to 75 GW by 2030, up from the current 45 GW. 📈 AI Adoption in India.  The rise of Generative AI (GenAI) is transforming various sectors, from manufacturing to healthcare, fintech, and retail. India now boasts over 200 GenAI startups, collectively raising over $1.2 Bn in funding since 2020. The country's GenAI market, valued at $1.6 Bn, is expected to grow to $17 Bn by the end of the decade, spurring further demand for AI-driven infrastructure. 📊 IndiaAI Mission & Semiconductor Push.  To foster AI innovation, the IndiaAI Mission, with a budget of INR 10,372 Cr, was approved by the government in March 2024. The initiative will offer incentives to companies scaling AI computing capabilities in India. The government is also focusing on encouraging electronics and semiconductor manufacturing in the country, with the first made-in-India chip expected this year. 🚀Building Indigenous AI Models  As competition in AI heats up globally, India is working on its own Large Language Models (LLMs) under the IndiaAI Mission. The government has already received 67 proposals to build indigenous AI foundational models, signaling the nation’s commitment to AI sovereignty. #Maharashtra #AI #ArtificialIntelligence #AIRevolution #IndiaAI #TechInnovation #Microsoft #OpenAI #IndiaGrowth #FuturisticIndia #TechPolicy #GenAI #Febupdates