BluSmart Is in Trouble + BwM 1M Subscriber Special! - Indian Startup News 254

Welcome to the Backstage with Millionaires weekly Indian startup news show, hosted by Caleb Friesen. This week, BluSmart’s CEO, CBO, CTO, and VP of Experience quit, Paytm has ended its partnership with Juspay, Andhra Pradesh has an exciting new startup policy, Meesho and Zypp Electric are preparing for their IPOs, BharatPe has been operationally profitable for nine months, MobiKwik has entered the stock broking industry, and Indian startups raised $50M.

0:00 BluSmart Mobility Is in Trouble
3:14 Payment Companies Ditching Juspay
5:09 BwM Integration
6:20 New Andhra Pradesh Startup Policy 4.0
7:36 Quick Updates
8:33 Indian Startup Funding News
9:57 1M Subscribers!

BluSmart Mobility Is in Trouble

BluSmart Mobility's CEO Anirudh Arun has stepped down, along with their Chief Business Officer Tushar Garg, Chief Technology Officer Rishabh Sood, and VP of Experience Priya Chakravarthy. Rumors of BluSmart Mobility's acquisition by Uber and charging infrastructure sale to Charge Zone have been circulating. BluSmart Mobility's troubles connect to Gensol Engineering, both founded by Anmol and Puneet Jaggi. Gensol Engineering sold 3,000 EVs to Refex Green Mobility to reduce debt. BluSmart Mobility missed a 30 crore debt repayment but later repaid it. Gensol Engineering's credit rating downgrade affected BluSmart Mobility, with Gensol's share price dropping 70%. BluSmart Mobility is now diversifying partners, working with Orix, Kinto, and Mahindra, while seeking 50 million dollars in funding.

Payment Companies Ditching Juspay

Paytm has ended its partnership with Juspay, following PhonePe, Razorpay, and Cashfree. Juspay, originally a payment orchestrator, obtained a payment aggregator license and launched HyperPG, competing directly with payment gateways. Juspay processes 175 million transactions daily, maintaining its focus on technology partnerships. Payment companies are developing in-house solutions: Razorpay launched Optimizer, Cashfree built Flowise, and Paytm is implementing internal systems.

BwM Integration

Backstage with Millionaires introduces a platform connecting entrepreneurs with qualified CAs and lawyers. Services include company registration, regulatory compliances, GST registration and filing, founders' agreements, and fundraising documentation. Entrepreneurs can submit requirements through the linked Google Form.

New Andhra Pradesh Startup Policy 4.0

Andhra Pradesh launches Innovation and Startup Policy 4.0, targeting 20,000 startups and 10 unicorns in five years. The state plans 10 new centers of excellence in AI, blockchain, EVs, and cybersecurity. Departments will allocate 10-20 crore rupees annually for startup collaboration. Andhra Pradesh partnered with Indichip Semiconductors, Yitoa Micro Technology, and Google for technology development.

Quick Updates

Meesho prepares for 1 billion dollar IPO at 10 billion valuation, working with Morgan Stanley, Citi, and Kotak. Zypp Electric reduces workforce by 10% pre-IPO. BharatPe achieves operational profitability for nine months of FY25. MobiKwik enters stock broking through MobiKwik Securities Broking Pvt Ltd with 2 crore investment.

Indian Startup Funding News

Indian startups raised 50 million dollars this week. DCDC Kidney Care secured 17.4 million dollars for dialysis services. Grow Indigo raised 10 million dollars for agricultural solutions. Firefly Diamonds received 3 million dollars for lab-grown diamonds. Nabhdrishti Aerospace raised 3 million dollars for micro gas turbines. Care.fi secured 7.5 crore rupees in debt funding.

Видео BluSmart Is in Trouble + BwM 1M Subscriber Special! - Indian Startup News 254 канала Backstage with Millionaires