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Finova Raises Series A From Sequoia Capital

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Finova Capital Pvt., Ltd., a Jaipur based non banking financial company,  has raised Series A funding round from the Indian subsidiary of the American venture capital firm Sequoia Capital. The amount raised in the funding round was not disclosed.

Finova Capital is a micro small and medium enterprise (MSME) lending firm which claims to have disbursed about Rs. 45 crores to over 500 businesses so far. The company will use the capital from this first round of external funding to expand its presence across the country and open 10 more branches by the end of 2017- 2018.

The lending firm was started in 2016 by Mohit Sahney with a capital of Rs. 10 crores. They provide home and business loans to MSMEs and currently operates five branches in Rajasthan. They offer loans up to Rs. 8 or Rs. 9 lakhs for up to seven years to small time manufacturers, handymen and service providers such as electricians, plumbers, carpenters and others.

Speaking about Finova, founder and CEO Mohit Sahney said, “A large chunk of India’s MSME market falls into the services sector. And this is the segment we cater to – those who do not have access to capital due to lack of formal documentation, financial literacy or presence of mid-level players.” The startup charges an annual interest of 21% – 25% on the loans they provide, taking into account the borrower’s cash flow as opposed to formal documentation for credit assessment. The company currently works with 10 lenders and turned profitable in their first year itself. They are expecting to end their second year of operations with Rs. 100 crores in assets under management.

Speaking about the investment the Managing Director of Sequoia India G.V. Ravi Shankar said Sequoia is delighted to partner with the team of Finova as they are addressing a critical need gap.

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Zepto Prepares for IPO with $250 Million Secondary Share Sale to Boost Domestic Investor Ownership

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Zepto Prepares for IPO with $250 Million Secondary Share Sale to Boost Domestic Investor Ownership

Zepto, the Bengaluru-based quick commerce startup, is preparing for its initial public offering (IPO) by facilitating a secondary share sale worth up to $250 million. This strategic move aims to increase Indian investor ownership from approximately 33% to nearly 50% before the anticipated public listing later this year or early next year.

Funding and Investor Details

The secondary sale will involve private equity firms, including Motilal Oswal Financial Services and Edelweiss Financial Services, allowing existing investors and employees to liquidate their shares. Although Zepto will not raise additional capital through this transaction, it is expected to execute the sale at a valuation of just over $5 billion, consistent with its last funding round in November 2024.

Objectives Behind the Sale

The primary goal of this secondary share sale is to enhance domestic ownership in Zepto, aligning with regulatory preferences and making the IPO more attractive to local institutional investors. Co-founders Aadit Palicha and Kaivalya Vohra currently hold about 20% of the company, and increasing Indian shareholder stakes is seen as a way to strengthen governance and influence over the company’s future direction.

Market Context

Zepto operates in India’s competitive grocery delivery market, facing challenges from established players like Amazon India, Swiggy, Zomato, and BigBasket. Founded in 2021 by Palicha and Vohra after they dropped out of Stanford University, Zepto has quickly gained traction in the quick commerce sector.

Conclusion

As Zepto approaches its IPO, this secondary share sale represents a crucial step in solidifying its position in the Indian market. By boosting domestic investor participation, Zepto aims to enhance its credibility and appeal as it prepares for a public listing amidst a wave of Indian startups entering the stock market.

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Regional OTT Platform STAGE Raises $12.5 Million to Expand Bhojpuri and Cultural Offerings

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Regional OTT platform STAGE has successfully raised $12.5 million in its Series B funding round, a move that highlights the increasing demand for regional content in India. The round was co-led by Goodwater Capital and Blume Ventures, with participation from Physis Capital and several angel investors.

The funding includes $10 million in primary capital and $2.5 million from secondary share sales, allowing early investors to partially exit. This capital will enable STAGE to enhance its content offerings, particularly in underserved languages like Bhojpuri, while strengthening its technological capabilities.

 

Since its launch in 2019, STAGE has quickly established itself as a leader in the regional OTT market, reporting an Annual Recurring Revenue (ARR) of ₹180 crore (approximately $21.7 million) and over 4.4 million paying subscribers. The platform has achieved over 20 million app installs and experienced significant growth, with a 289% increase in revenue and a 286% rise in subscribers over the past year, driven by original series such as Videshi Bahu, Kaand 2010, and Bhawani.

 

CEO Vinay Singhal emphasized that this funding is not just financial support but a validation of India’s diverse regional cultures. He noted that dialects like Haryanvi and Bhojpuri should be celebrated rather than viewed as liabilities. With this new funding, STAGE plans to further invest in content creation and technology development to enrich its storytelling experience.

 

As the demand for regional language content continues to grow, STAGE’s strategic investments position it well to expand into more languages and cultural narratives, solidifying its place in the competitive OTT landscape alongside platforms like aha video and Chaupal.

 

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From Space to Earth: Sunita Williams’ Inspiring Journey and Homecoming Celebration

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Sunita Williams, the celebrated Indian-American astronaut, recently returned to Earth after an extended nine-month mission aboard the International Space Station (ISS). Initially scheduled for just eight days, her mission was prolonged due to technical issues with the Boeing Starliner spacecraft, which rendered it unsafe for their return.

On March 19, 2025, Williams and fellow astronaut Butch Wilmore safely splashed down off the Florida coast. 

 

Their homecoming was celebrated in Jhulasan village, Gujarat, where special prayers and rituals were held to honor her safe return. Family members expressed their joy and gratitude, emphasizing her strong ties to her ancestral home.

Upon her return, Williams received accolades from Indian officials, including a letter from Prime Minister Narendra Modi, who expressed pride in her achievements and resilience. He highlighted the inspiration she provides to future generations of scientists.

 

While her return marks a moment of celebration, it also signals the start of new challenges. After spending 286 days in space, Williams will undergo a 45-day rehabilitation period to readjust to life on Earth and regain physical strength.

Sunita Williams’ journey serves as an inspiration not only for India but for aspiring scientists worldwide, showcasing the significant contributions of Indian-origin individuals in global space exploration.

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