Ajay Kumar Verma
Featured news
Unicommerce doubles down on profitability and global scale
Unicommerce’s public foray last year was a bold move for a SaaS company of its scale. With around Rs 100 crore in revenue (FY23) at the time of listing, the company leaned on its strong profitability metrics, solid fundamentals, and parentage under AceVector (which also owns Snapdeal) to pull off one of the most successful startup IPOs in recent memory.
In an interaction with YourStory, Kapil Makhija, MD and CEO of Unicommerce, says the Shipway acquisition has deepened its logistics capabilities and fast-tracked growth.
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From Left to right: Ashishkumar Chauhan, MD & CEO, NSE; Kapil Makhija, MD & CEO Unicommerce; Kunal Bahl, Promoter, Unicommerce; and Rohit Bansal, Promoter, Unicommerce
” align=”center”> From Left to right: Ashishkumar Chauhan, MD & CEO, NSE; Kapil Makhija, MD & CEO Unicommerce; Kunal Bahl, Promoter, Unicommerce; and Rohit Bansal, Promoter, Unicommerce
Inside India’s emerging electric tractor market
Indian farmers are eyeing electric tractors and turning to these vehicles to cut down on operational costs, and companies like AdvantEdge-backed Moonrider are rushing to capitalise on this demand.
According to data from the Vahan registry, India registered 25 electric tractors in 2025. While this number remains minuscule compared to two-wheeler, three-wheeler, and four-wheeler sales, it indicates a growing demand, with the market expanding by 66% year-on-year.
Surging AI demand boosts Meta’s revenue, but hefty one-time tax dents profit
Facebook parent Meta capitalised on surging AI-powered ad demand to post robust third-quarter (Q3) 2025 revenue gains, though a hefty one-time tax charge dented its profit.
In Q3, the California-based firm’s revenue climbed 26.2% year-on-year to $51.2 billion, while its net profit dipped 82.7% to $2.7 billion.
The company’s net income reflects a one-time, non-cash tax charge of $15.93 billion in Q3 2025 under the One Big Beautiful Bill Act; excluding this, its net income would have been $18.64 billion.
Google parent Alphabet clocks $100B in quarterly revenue on AI momentum
Google parent Alphabet has posted strong third-quarter 2025 results, fuelled by a surge in AI-powered advances across Search and Cloud, which are reshaping its core business.
“This was a terrific quarter for Alphabet, driven by double-digit growth across every major part of our business. We’re seeing AI now driving real business results across the company,” said Sundar Pichai, Chief Executive Officer of Alphabet and Google, in a blog post.
“We delivered our first-ever $100 billion quarter. Five years ago, our quarterly revenue was at $50 billion. Our revenue number has doubled since then, and we’re firmly in the generative AI era,” he said.
Latest News
Groww sets IPO price band at Rs 95-100, targets Rs 61,700 Cr valuation
Billionbrains Garage Ventures Ltd., the parent company of Groww, has set a price band of Rs 95 to Rs 100 a share for its initial public offering (IPO), seeking a valuation of about Rs 61,736 crore.
The Bengaluru-based company will open its books for subscription on November 4 and close on November 7, according to its red herring prospectus.
The share sale comprises a Rs 1,060 crore fresh issue and an offer for sale (OFS) of Rs 5,572.3 crore, giving existing investors a sizeable liquidity event. Read more here
upGrad turns EBITDA positive in FY25 as AI-led expansion fuels global growth
upGrad has reported EBITDA profitability in FY25, marking a strong turnaround driven by steady revenue growth, operational efficiency, and its AI-led global expansion. The milestone underscores upGrad’s evolution into a scalable, profitable, and tech-driven learning powerhouse.
The company reported a gross revenue of Rs 1,943 crore – which post Ind-AS accounting closed at a total income of Rs 1,650 crore, reflecting sustained demand from both learners and enterprises. Further, the company carries Rs 556 crore in collected but unrecognised revenue, to be recognised in the future.
Shiprocket improves profitability in FY25 with Rs 1,632 Cr revenue
Logistics-tech unicorn Shiprocket has reported a full-year positive cash EBITDA for the first time in FY25, marking a significant milestone in its profitability journey. The company’s revenue increased 24% year-over-year to Rs 1,632 crore, driven by its core shipping business and rapid expansion across new verticals.
According to the company’s financial statement, Shiprocket’s core business—which includes its domestic shipping platform and value-added technology solutions for merchants—grew over 20% year-on-year to Rs 1,306 crore, maintaining a margin profile of around 12%.
Net losses also narrowed significantly to Rs 74 crore, down from Rs 595 crore in FY24, with current losses largely attributed to ESOP-related non-cash expenses of Rs 91 crore. Read more here
General Atlantic doubles PhonePe stake with $600M secondary deal
General Atlantic has invested $600 million in digital payments major PhonePe, taking its shareholding up from 4.4% to roughly 9%, people familiar with the matter said.
The transaction was a secondary share sale, not a fresh capital raise, and was designed to enable employees to exercise stock options and meet tax obligations, the sources added. No payouts were made to founders or other investors.
Including this latest round, the US-based private equity firm has deployed around $1.15 billion into PhonePe since 2023. PhonePe declined to comment.
Funding News
Drip Capital raises $50M from TD Bank to boost SMB trade finance
Drip Capital Inc., a digital trade-finance firm focused on small and mid-sized exporters, has secured a $50 million committed credit facility with an additional $25 million accordion option from Toronto-Dominion Bank, one of North America’s top lenders.
The deal marks Drip Capital’s first collaboration with TD Bank and lifts the company’s total debt funding to more than $500 million, backed by institutions including Barclays, the World Bank’s International Finance Corporation, and East West Bank. The new capital will finance the firm’s Buyer Finance programme in North America and expand its reach in cross-border SMB financing globally.
Fintech firm SalarySe raises $11.3M in Series A round
Salary-powered fintech platform SalarySe on Thursday raised $11.3 million in a Series A round led by Flourish Ventures, with Susquehanna Asia VC and returning investors Peak XV’s Surge and Pravega Ventures.
The company said it intends to use the newly-raised capital to help scale features such as making payments, credit, and money management on its platform to make it affordable, personalised, convenient. and seamless to its users.
Jupiter Money raises Rs 115 Cr from Mirae Asset, BeeNext, 3one4 Capital
Fintech platform Jupiter Money has raised Rs 115 crore in a fresh funding round, marking another show of confidence from its existing investors, as the company more than doubled its revenue in the last financial year.
The round saw participation from Mirae Asset Venture Investments, BeeNext, and 3one4 Capital, alongside additional capital from founder and CEO Jitendra Gupta, the company said in a statement.
The Bengaluru-based startup operates a regulated platform offering savings accounts, credit cards, loans, investments, and insurance through a single app.
IntrCity SmartBus raises Rs 250 Cr in Series D round to scale up fleet
Bus network operator IntrCity SmartBus on Thursday raised Rs 250 crore (around $28 million) in a Series D funding round led by A91 Partners, at a roughly Rs 1200 crore post-money valuation.
The company plans to use the newly raised funds to improve customer travel experience, upgrade fleet management technology platform, and provide deeper and wider coverage to Tier II and Tier III cities.
Moreover, the firm is on track to double its fleet and intends to run a network of 1,000 buses in the next few years. Currently, the firm runs roughly 550 to 600 buses, according to Kapil Raizada, Co-founder and President at IntrCity SmartBus.
PointAI raises Rs 47 Cr in pre-Series A funding led by Yali Capital
Deeptech startup PointAI, formerly known as Try ND Buy, has raised Rs 47 crore in a Pre-Series A round led by Yali Capital, with participation from Lip-Bu Tan (Chairman, Walden International) and Tremis Capital.
The company said it will use the funding to accelerate product innovation, strengthen its AI capabilities, and expand the company’s market footprint across India and international markets.
The Noida-based startup has so far raised around Rs 10 million in total funding. Read more here
Other news
BharatPe appoints Harshita Khanna as Chief Human Resources Officer
Fintech firm BharatPe has appointed Harshita Khanna as its new Chief Human Resources Officer (CHRO). In this role, she will lead the company’s people and culture strategy, with a focus on strengthening leadership, improving organisational performance, and supporting BharatPe’s next phase of growth.
Khanna brings over 18 years of experience in human resources across global organisations. Prior to this, she served as Chief People Officer at Home Credit India, where she led initiatives in digital HR transformation, change management, and employee engagement.
She has also worked with Alcatel Lucent, CSC, and Aon Hewitt in leadership roles spanning total rewards, performance management, and organisational design.
The appointment comes as BharatPe continues to scale its operations across financial services and digital payments, following a period of leadership restructuring and renewed focus on business growth and governance.
Emversity announces leadership appointments to support next phase of growth
Industry-skilling platform Emversity has elevated four founding team members to key leadership positions as the company prepares for its next phase of expansion across technology, partnerships, and learning initiatives.
Manish Kumar has been appointed Chief Technology Officer (CTO) and will lead Emversity’s efforts to strengthen its AI-driven learning and operations platform that connects students, universities, and employers nationwide.
Akash Kalp has taken charge as Chief Business Officer (CBO) for Emversity SMART, the company’s skill-training and certification vertical run in collaboration with the National Skill Development Corporation (NSDC). He will oversee the expansion of its network of training centres, which currently operate across multiple Indian cities.
Rahul Raj, elevated to Chief Business Officer (CBO) for Emversity EDGE, will focus on scaling partnerships with higher-education institutions to integrate industry-linked skill development into university curricula. The model is currently active across 13 universities.
Megha Lal has been named Chief Human Resources Officer (CHRO), and will lead Emversity’s people strategy and training ecosystem. The company employs over 700 people across 22 states and aims to further strengthen its talent and trainer base.
The leadership changes come as Emversity expands its footprint across new sectors, while continuing to work with universities and skilling bodies to enhance employability outcomes for students across India.
This article will be updated with the latest news throughout the day.
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Edited by Jyoti Narayan
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