Harsh Upadhyay

Senior Correspondent at Entrackr

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Udaan closes Series G round at $114 Mn

5 days ago | entrackr.com | Harsh Upadhyay

B2B e-commerce platform Udaan has announced the closure of its Series G round at $114 million, led by M&G Investments and Lightspeed, with participation from other existing and new investors. In February, the Bengaluru-based company raised $75 million as the first tranche of the Series G round at a flat valuation.
Healthtech, logistics propel Indian startup funding beyond $1 Bn in May

5 days ago | entrackr.com | Harsh Upadhyay

After a 35% drop in startup funding in April, Indian startups saw a strong recovery in May, crossing the $1 billion mark. This bounce-back was mainly driven by a few large deals such as $200 million After a 35% drop in startup funding in April, Indian startups saw a strong recovery in May, crossing the $1 billion mark.
TVS leads May EV 2W sales, Bajaj narrows gap as Ola Electric slips to third

6 days ago | entrackr.com | Harsh Upadhyay

May 2025 saw a strong performance in the electric two-wheeler (E2W) segment, with retail sales hitting 100,266 units. This marks the second-highest monthly figure of the year, after March’s peak of 131,364 units, according to Vahan data. TVS Motor topped the charts once again with 24,560 units sold, registering a 107% year-on-year (YoY) growth. The company’s aggressive push and expanded portfolio helped it secure a commanding 24% market share in May.
Razorpay to pay $150 Mn in taxes for reverse flip to India

1 week ago | entrackr.com | Harsh Upadhyay

Fintech unicorn Razorpay is expected to incur a tax liability of approximately $150 million (approximately Rs 1,280 crore) as part of its reverse flip to India, according to sources familiar with the matter. The company officially announced its move to shift its domicile from the US to India on Thursday. The amount of tax payable is typically determined by the company’s valuation and the findings from third-party audits.
Razorpay completes reverse flip to India

1 week ago | entrackr.com | Harsh Upadhyay

Fintech unicorn Razorpay has finalized its reverse flip to India, joining a growing list of unicorns that have relocated their domicile back to their home country in recent months. This development follows Razorpay’s transition into a public limited company. Recently, the Regional Director in Hyderabad approved the amalgamation of Razorpay Inc. with Razorpay India. According to media reports, the Bengaluru-based payments unicorn is targeting an IPO by 2026–27.
Unacademy co-founders Gaurav Munjal and Roman Saini to exit: Report

1 week ago | entrackr.com | Harsh Upadhyay

Unacademy co-founders Gaurav Munjal and Roman Saini are reportedly set to exit the edtech company to focus on their new venture, AirLearn, a language learning app. This marks a rare instance of original co-founders of an Indian edtech unicorn stepping away from the company. The third co-founder, Hemesh Singh, had already exited in June last year.
CCI approves Jumbotail-Solv India merger

1 week ago | entrackr.com | Harsh Upadhyay

The Competition Commission of India on Tuesday cleared a multi-layered deal involving Bengaluru-based Jumbotail Technologies' proposed acquisition of B2B e-commerce platform Solv. The merger includes Jumbotail fully acquiring SCRTIPL, a subsidiary of Standard Chartered that runs Solv. In March, SC Ventures, Standard Chartered’s investment arm, agreed to sell Solv India to Jumbotail.
Exclusive: CRED set to raise $75 Mn at $3.5 Bn valuation led by GIC

1 week ago | entrackr.com | Harsh Upadhyay

After a three-year pause, fintech unicorn CRED is back in the fundraising game with a $75 million investment from its existing investors, three sources familiar with the matter told Entrackr. “Existing investor GIC, through Lathe Investment, is leading the round, with participation from RTP Global and Sofina,” said one of the sources requesting anonymity. The source added that CRED founder Kunal Shah will invest around $20 million in the internal round.
Citykart raises Rs 538 Cr led by TPG NewQuest and A91 Partner

1 week ago | entrackr.com | Harsh Upadhyay

Citykart has raised Rs 538 crore ($63 million) in Series B funding, marking one of the biggest capital infusions in the country’s value fashion segment to date. The round was co-led by TPG NewQuest, a secondary private equity platform for Asia within TPG, and A91 Partners, a homegrown investment firm specializing in growth investments. According to the company, about Rs 120 crore is primary capital, with the remaining Rs 418 crore allocated to secondary transactions.
Exclusive: Classplus and Pravega to lead $6 Mn round in GyanDhan

2 weeks ago | entrackr.com | Harsh Upadhyay

GyanDhan, a platform in the education-finance space, is in the final stages of securing a funding round worth approximately $6 million, according to two individuals familiar with the development. “Pravega Ventures and Classplus are jointly leading a funding round,” said a source. The individual, who requested to remain anonymous due to the confidential nature of the discussions, added that a few of GyanDhan’s existing investors are also expected to take part in this round.