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One97 Communication Posts $ 126 Million In Revenue

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One97 Communication Revenue,Startup Stories,Inspirational Stories 2017,Latest Business News 2017,Paytm Founder Vijay Shekhar Sharma Launch First Digital Wallet,One97 Communications Launch shopping app Paytm Mall,Hurun India Rich List 2017,One97 Communication Revenue Updates

One97 Communication, the parent company of Paytm, India’s fastest growing digital wallet, posted a total revenue of $ 126 million for the fiscal year 2016 – 2017. The net worth of the company also scaled new heights to reach Rs. 2,376.6 crores.

After recording a loss of Rs. 13.63 crores in the financial year 2015 – 2016, with a total revenue of Rs. 7.34 crores, the company gained more customers in November last year following Demonetization. Paytm became the de facto digital wallet for thousands of traders and users.

Founded by Vijay Shekhar Sharma in 2010, Paytm was one of the first digital wallets to be launched in India. In August 2016, the company also incorporated Paytm Payments Bank and formally launched its operations in May 2017. In an attempt to capture the lucrative ecommerce market in India, One97 Communications also launched the consumer shopping app Paytm Mall in February this year.

Backed by China’s largest ecommerce site Alibaba and Japanese major SoftBank, the company claims to have over 218 million customers in India and a few other parts of the world. In a Facebook post, Vijay Shekhar Sharma added, the company would try to increase their customer count to 50 crores by the end of 2020.

The digital payments company earns most of its revenue through its mobile wallet and ecommerce business. During the recent festive season sale, Paytm Mall also chalked out an aggressive budget of Rs. 1,000 crores, including Rs. 501 crores cashback offers. Paytm, Snapdeal and ShopClues, together, managed to capture close to 16% of the market share. The company also witnessed a 65% rise in offline payments resulting in transactions worth $ 1.6 billion. Vijay Shekhar Sharma was also featured in the 6th “Hurun India Rich List 2017,” along with Flipkart founders Binny Bansal and Sachin Bansal. Sources claim, the founder of Paytm, the biggest digital wallet, received a salary of Rs. 3.4 crores last year.

Watch the inspiring journey of Vijay Shekhar Sharma from Aligarh, Uttar Pradesh to becoming one of the most influential entrepreneurs of this generation.

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Ex-100X.VC Partners Launch 247VC, Announce INR 250 Crore Fund for Seed-Stage Startups

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Former 100X.VC partners Yagnesh Sanghrajka and Shashank Randev have launched a new venture capital firm, 247VC, unveiling a maiden fund with a target corpus of INR 250 crore (about $30 million). The SEBI-registered Category II AIF includes a base of INR 200 crore and a INR 50 crore greenshoe option, and is focused on backing 30 seed-stage startups across India over the next three years.

 

247VC will target high-potential founders in sectors like deeptech, enterprise tech, consumption, and Industry 5.0, with initial cheque sizes ranging from INR 3 crore to INR 4 crore and follow-on capital for top-performing companies. The fund has attracted prominent early backers, including Sachin Tagra (JSW Ventures), Vivek Mathur (ex-Elevation Capital), and Shailendra Majmundar (Johns Hopkins University).

Sanghrajka and Randev, who together have invested in over 200 startups previously, aim to support ambitious founders building for scale and innovation, especially in emerging and underexplored markets. The launch comes as seed-stage investing gains momentum in India, with average cheque sizes rising despite a cautious funding environment.

 

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Flam Secures $14M Series A to Revolutionize Mixed Reality Marketing with AI

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AI infrastructure startup Flam has raised $14 million in a Series A round led by RTP Global, with participation from Dovetail and existing investors, bringing its total funding to $22 million. Founded in 2021, Flam enables brands to create and deliver high-fidelity mixed reality (MR) and generative AI experiences without the need for app downloads, allowing consumers to access immersive content via QR codes or links in under 300 milliseconds.

Flam’s platform is already used by over 100 global brands-including Google, Samsung, and Netflix-reaching more than 380 million users. The new funding will accelerate product innovation, expand operations in North America, Europe, and Asia, and launch a full-stack enterprise suite for MR and GenAI-driven marketing. The company currently has over 120 employees and plans to grow to 180 by the end of 2025, aiming to transform every brand touchpoint into an interactive digital experience.

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Info Edge Delivers 36% Returns on Startup Investments

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Info Edge, the parent of Naukri.com, has achieved a 36% gross internal rate of return (IRR) on its startup investments since 2007, turning a total investment of INR 3,959 crore across 111 startups into a portfolio now valued at INR 36,855 crore-a nearly 9X gain. Early bets on Zomato and Policybazaar have been especially lucrative, with holdings in these two companies alone worth INR 31,500 crore as of March 2025.

The company’s investment strategy spans multiple vehicles, including the SEBI-registered Info Edge Venture Fund (IEVF), Info Edge Capital, and Capital 2B, with a combined fund corpus of INR 3,423 crore and Info Edge committing INR 1,614 crore. Early-stage investments now contribute 30-40% of the company’s overall value.

Info Edge’s Alternative Investment Fund (AIF) investments have yielded an IRR of 18.7%. Many portfolio companies, such as TrueMeds, Geniemode, Attentive.ai, and InPrime, have attracted follow-on funding from major investors like Accel, Peak XV Partners, and Tiger Global. Notably, BlueStone, the largest investment of Info Edge Capital, has filed for an IPO after securing investments from Prosus, Peak XV, and Steadview Capital.

Founder Sanjeev Bikhchandani emphasized the company’s focus on strong governance and financial controls, with a preference for value realization through public listings or strategic exits.

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