UNICORN COMPANIES
ET Soonicorns Summit 2025: Delhi-NCR startup report to be unveiled at Gurugram Sundowner
The flagship Economic Times Soonicorns Summit's regional Sundowner series is set to make its second stop in India’s expanding innovation geography, promising to reveal groundbreaking insights into one of India’s most powerful startup regions—Delhi-NCR..
Chinese robotics firm Unitree eyeing $7 billion IPO valuation, sources say
If successful, Unitree's IPO would be one of the biggest and highest profile onshore tech listings in years, and would come as Beijing steps up efforts to support its tech champions in tapping capital markets for their funding needs.
Venture Catalysts raises Rs 150 crore in mix of primary, secondary transactions
Venture Catalysts has raised Rs 150 crore through a mix of primary and secondary shares, valuing it at $200 million. The funds will help expand teams, launch new funds, and develop AI tools. New investors include Ashish Kacholia, Shah Rukh Khan’s family office, and Aishwarya Rai.
FDs fuel plastic dreams; PhysicsWallah revises DRHP
Happy Monday! Banks and fintechs launch low-limit secured credit cards to grow users. This and more in today's ETtech Morning Dispatch.
9 IPOs opening this week see GMPs from 0 to 107%. Check for all issues
It will be a packed week for primary markets with nine IPOs opening for subscription across mainboard and SME platforms. From marquee names like Urban Company to niche players in retail, metals and engineering, investor interest is buzzing. GMPs show strong appetite for some issues, while others are yet to generate traction.
PhysicsWallah files updated papers for Rs 3,820 crore IPO, Alakh Pandey, Prateek Maheshwari to pare stake
PhysicsWallah (PW) has filed its updated draft red herring prospectus (UDRHP) with Sebi, aiming to raise Rs 3,820 crore through a mix of fresh issue (Rs 3,100 crore) and an offer-for-sale by its cofounders Alakh Pandey and Prateek Maheshwari (Rs 3,600 crore each).
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Urban Company IPO payday; Side effects of CBD wellness rush
Happy Thursday! Urban Company investors look at lucrative returns as the unicorn gets ready to list. This and more in today’s ETtech Morning Dispatch.
Zomato, Swiggy's GST woes; Amazon's $200-million Axio deal
With the overhaul of India's GST regime, food delivery companies Zomato and Swiggy stare at a new tax burden. This and more in today's ETtech Top 5.
From Hyderabad to Gurugram: ET Soonicorns Sundowner to decode the Delhi-NCR startup matrix
Following a successful Hyderabad debut, the Economic Times Soonicorns Sundowner series is expanding to Gurugram on September 11th. This invite-only event will unveil the 'Top Soonicorns and Minicorns of Delhi-NCR 2025' report, exploring the region's startup ecosystem. The evening features discussions on Delhi-NCR's unique strengths and open-mic storytelling from soonicorn founders, fostering strategic connections and insights.
JPMorgan to boost corporate banking in India on investment jump
JPMorgan's focus is on electric vehicles, data centers and solar energy sectors. These industries are increasing capital spending. JPMorgan sees India and Japan as its fastest-growing Asian markets. The bank expects continued growth despite tariff concerns. They aim to grow revenue by 30% annually. The expansion includes increasing domestic headcount.
Urban Company, Boat get Sebi nod for IPO
Urban Company has received Sebi’s approval for its Rs 1,900 crore IPO, following its April filing. The on-demand home services platform was recently named Startup of the Year at the ET Startup Awards 2025. Gurugram-based wearables brand Boat has also secured regulatory clearance for its IPO through Sebi’s confidential filing route.
Fintech Kapital becomes Mexico's latest unicorn with $1.3 billion valuation
Kapital closed a funding round led by Tribe Capital and Pelion Ventures, giving it access to up to $100 million, it said in a statement, with its total valuation topping $1.3 billion.
Urban Company, Boat IPOs; India's first semiconductor chip
Urban Company, Boat get IPO nods, this and more in today's ETtech Top 5
Community ecommerce startup CityMall raises $47 million at flat valuation
Existing investors, including Waterbridge Ventures, Citius, General Catalyst, Elevation Capital, Norwest Venture Partners, and Jungle Ventures, participated in the round, which was a mix of equity and debt. The fresh funds will be used to deepen its presence in current markets, expand into adjacent regions, grow its portfolio of private labels and brand partnerships, and hire new talent.
Third round of layoffs, more leadership exits hit Krutrim
Ola's AI venture, Krutrim, has conducted its third round of layoffs, impacting nearly 50 employees in the linguistics team amidst restructuring efforts to build a leaner, agile team. This follows previous layoffs and leadership exits, totaling over 200 departures, as the company develops its Krutrim 3 LLM.
Elev8 Venture Partners marks $160 million close of maiden fund
The fund counts institutions from South Korea, Hong Kong and India among its backers, alongside sovereign funds, family offices and several unicorn founders. South Korea-based KB Investment is the anchor limited partner, while Self Reliant India Fund has also contributed capital to the fund.
Reliance AGM 2025: Jio crosses 500 million customers, aims IPO by H1 2026, Mukesh Ambani says
Mukesh Ambani announced that Jio now has 500 million customers. He spoke at Reliance Industries' annual general meeting. Jio plans to file for an IPO in the first half of next year. Ambani highlighted Jio's role in ending digital poverty in India. He also mentioned Jio's contribution to India's digital infrastructure and 5G rollout.
How technology is democratising entrepreneurship in India
Digital tools are democratising Indian entrepreneurship and empowering individuals. Open networks, affordable smartphones, and national digital infrastructure are lowering barriers related to cost, distance, and trust. This shift is fostering growth in Tier-2 and Tier-3 towns, with increasing participation from women, although deep-tech sectors still lag behind.
ET Soonicorns Summit 2025: From AI-led demand forecasting to meat sentiment—why Licious built its own supply chain
“Nobody gets traumatised by a bad rajma or tomato. But with meat, it happens.” At the ET Soonicorns Summit 2025 finale fireside chat, Abhay Hanjura and Vivek Gupta cut open the Licious playbook, revealing lessons critical to building enduring consumer startups.
NBFC CredRight raises $10 million in round led by Abler Nordic
This is the first investment from the recently closed fifth fund of Abler Nordic (formerly Nordic Microfinance Initiative). Existing investors, the Michael & Susan Dell Foundation and Unleash Capital, also participated. The fresh capital will be used to expand its loan book, strengthen its technology platform, and extend operations to smaller towns. Earlier in August 2023, it had raised around $9.7 million in equity and debt from the Michael and Susan Dell Foundation and others.
Dubai’s RDI grants initiative: Empowering deep tech research with global impact
Non-dilutive grants, city testbeds, and India–Dubai collaborations are turning lab ideas into field-tested deep tech.
From Sahara to Dream11: Harsh Goenka calls India's cricket jersey as 'real brand survival test'
Harsh Goenka's comment highlights the risks of sponsoring the Indian cricket team. Dream11 ended its jersey deal after a new gaming law. Many past sponsors like Sahara and Byju's faced financial or legal issues. The Board of Control for Cricket in India seeks a new sponsor for the Asia Cup. Despite the 'jersey jinx,' the sponsorship remains highly desirable.
India becomes ground zero in the global AI race
India emerges as a key battleground for global AI dominance, with OpenAI leading the charge by establishing an Indian unit and launching localised, affordable AI solutions like ChatGPT Go. This move intensifies competition among tech giants like Google and Microsoft, sparking a price war and raising questions for local AI startups.
ET Soonicorns Summit 2025: Meat isn’t built for 10-minute delivery, say Licious founders
At ET Soonicorns Summit 2025, Licious cofounders said quick commerce has reshaped demand but isn’t suited for perishable meat products. With 300 items and a two-day shelf life, Licious is using AI to scale 30-minute delivery sustainably. This comes amid rising competition in the quick commerce space.
Licious founders push IPO to 2027-28, call unicorn tag ‘a digression’
At The ET Soonicorns Summit 2025, Abhay Hanjura and Vivek Gupta said the Temasek-backed meat and seafood brand will turn profitable before a public listing, and is betting big on offline expansion.
ET Soonicorns Summit 2025: Licious growing 40% year-on-year; could turn profitable in 6–8 months, say founders
According to the founders Abhay Hanjura and Vivek Gupta, the company is focussed on maintaining its growth and is not stressing too much on profitability now.
ET Soonicorns Summit 2025: “India lags behind the US, China in foundational tech”
Does India have an AI ambition crisis? As the who’s who of the AI, startup, and investment ecosystem flocked to Bengaluru for India’s biggest soonicorns summit, changemakers mulled over whether India’s consumption (rather than production) of AI could cost the country a lucrative future.
ET Soonicorns Summit 2025: Karnataka Deputy CM to unveil report on soonicorns and minicorns across priority sectors
DK Shivakumar, Deputy Chief Minister of Karnataka, is set to unveil the Economic Times Top Soonicorns and Minicorns of Karnataka 2025 report, based on data from January 1, 2020, to June 9, 2025, revealing 31 unicorns, 85 soonicorns, and emerging innovation clusters across five urban hubs.
Is starting a business more rewarding than studying at Harvard? Why one student is considering betting big on India’s growth story
A 26-year-old student at Harvard Business School is weighing whether to quit her course to move to India and join the country’s booming startup sector, according to a post on X. A close friend revealed she is seeking operator roles in early-stage firms and wants to “bet on the India story.” The post drew a flood of responses, with startup leaders offering roles while others urged her not to leave Harvard. The debate reflects India’s growing global pull.
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