TLDR;
This week's Indian startup scene is buzzing! Zoho's Aratai messaging app is seeing a massive surge in users, challenging WhatsApp's dominance. Zerodha is facing a revenue dip and considering changes to its brokerage model. Plus, there are quick updates on Chennai's Agnikul Cosmos, Anthropic's India expansion, and Aether Energy surpassing Ola Electric in EV sales. Funding news highlights companies like Capiwa, Bait Puja, Assessee, Unmanned, and Vani Research.
- Aratai's sudden growth is fueled by user frustration with WhatsApp spam and a push for data sovereignty.
- Zerodha's revenue drop is attributed to SEBI's new trading rules.
- Several startups have secured funding, showcasing innovation in Ayurveda, restaurant management, AI companions, drone technology, and voice AI.
Arattai's Sudden Rise [0:42]
Zoho's messaging app, Aratai, has experienced a massive surge in popularity, jumping from 3,000 to over 2 million daily signups in a week, driven by growing user frustration with WhatsApp's spam and privacy issues. Aratai promises to keep user data within India, aligning with the government's push for data sovereignty and the Digital Personal Data Protection Act. The government's endorsement signals a preference for an Indian alternative to WhatsApp, especially given geopolitical tensions and concerns about reliance on foreign-owned messaging platforms.
Zerodha’s Revenue Drop [5:27]
Zerodha, a prominent zero-brokerage trading platform in India, has experienced a significant revenue drop of almost 40% in the first quarter of the financial year. This decline is attributed to new SEBI regulations that have made stock market trading more difficult, such as reducing the frequency of weekly options trading and increasing taxes. As a result, Zerodha is considering charging fees on regular stock trades, a departure from its original zero-brokerage model. Despite the revenue drop, Zerodha remains financially stable with no debt and substantial cash reserves.
Quick Updates [6:56]
Agnikul Cosmos, based in Chennai, plans to develop fully reusable rockets, similar to SpaceX's Falcon 9, and has patents for its launch vehicles and semi-cryogenic propellant technology. Anthropic, the company behind Claude AI, is expanding into India following a $13 billion funding round and a $183 billion valuation. Aether Energy has surpassed Ola Electric in monthly EV sales for the first time, with Aether selling 16,500 units compared to Ola's 12,200 in September.
Startup Funding News [8:05]
Indian startups raised a total of $185 million this week. Bengaluru-based Capiwa, a modern Ayurveda brand, raised $60 million in its Series D round. Ahmedabad-based SaaS startup Bait Puja, which provides restaurant management software, raised $15.5 million in its Series C round. Kolkata-based Assessee, developing an AI companion that analyzes behavior and traits, raised $5 million. Bengaluru-based Unmanned, which makes drones and robotic vehicles, raised $2 million in its pre-seed round. Finally, Bengaluru-based AI startup Vani Research, focused on human-like voice AI systems, raised $400,000 in its pre-seed round.
Closing Thoughts [10:25]
The presenter expresses excitement about Aratai's potential to become a secure and sovereign messaging platform for India, similar to the success of UPI. He encourages viewers to share their thoughts on the week's events, particularly regarding Aratai.