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CRED’s Kunal Shah Invests In One Plus Founder Carl Pei’s Startup

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Carl Pei is one of the most well known names in the startup circles considering he gave the world one its best smartphone brands OnePlus.  Since the debut of OnePlus One. The smartphone maker earned the moniker ‘flagship killer’ and has grown in leaps and bounds.  Today OnePlus boasts on an impressive product line up apart from its smartphones and is one of the leading electronic brands in the world.  In October 2020, Carl Pei said the time came for him to leave OnePlus and focus on other interests.  Since then, Pei had been working on his new startup in the audio hardware sector.

The name of Carl Pei’s new startup will be unveiled on January 27th, 2021 but in the past three months the unnamed startup received almost $ 7 million in seed funding.  The investors include Tony Fadell (Principal at Future Shape & Inventor of the iPod,) Casey Neistat (YouTuber,) Kevin Lin (Co-founder of Twitch,) Steve Huffman (CEO of Reddit,) Liam Casey (Founder and CEO, PCH,) Paddy Cosgrave (Founder of Web Summit) and Josh Buckley (CEO of Product Hunt.)

The latest to invest in Carl Pei’s startup is Indian based CRED founder Kunal Shah who invested an undisclosed amount.  Shah is not new to being an angel investor as he already has a portfolio of investing in almost 80 startups.  “Carl is working on a new consumer electronics company that I am sure will be a disruptor in the tech industry. I am excited to be part of this journey (sic,)” the CRED founder said in a statement.

While Pei’s startup is headquartered in London, more details will be known on January 27th, 2021.

 

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Funding

Yali Capital Makes History with ₹893 Crore Deeptech Fund to Power Indian Innovation

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Yali Capital

Bangalore’s Yali Capital has closed its first deeptech-focused fund, raising a substantial ₹893 crore (about $104 million) and surpassing its initial ₹500 crore target. This major fundraising milestone highlights the growing appeal and investor confidence in India’s deeptech landscape, fueling innovation in pivotal sectors like semiconductors, artificial intelligence, robotics, aerospace, genomics, and smart manufacturing. The fund cements Yali Capital’s position as a key player driving progress in India’s burgeoning tech ecosystem.

Strategically, Yali Capital’s fund targets both early-stage (Seed, Series A) and later-stage (Series D and beyond) startups. Its diverse roster of Limited Partners (LPs) includes prominent corporations such as Infosys, Qualcomm Ventures, and Tata AIG, alongside government-backed organizations like the DPIIT Fund of Funds for Startups and the Self-Reliant India Fund. With heavyweight backers like Kris Gopalakrishnan (Infosys co-founder), Gopal Srinivasan (TVS Capital), and Utpal Sheth (RARE Enterprises), Yali Capital ensures robust strategic support. The firm’s dual structure—a SEBI-registered Alternative Investment Fund (AIF) and a GIFT City-based feeder vehicle—enables global investor participation, guided by tech luminary Lip-Bu Tan and managing partner Ganapathy Subramaniam.

Already, Yali Capital has invested in five breakthrough startups, including C2I Semiconductor, 4baseCare, and Perceptyne, focusing on chip design and AI. By devoting two-thirds of its fund to early-stage companies, Yali Capital underscores its commitment to nurturing next-generation Indian deeptech founders. This fundraising success aligns with a nationwide trend of surging investments in advanced technology and positions Yali Capital at the forefront of India’s drive toward self-reliance and global tech leadership.

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Agritech Startup Gramik Raises INR 17 Crore to Expand Rural Commerce in India

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StartupStories
  • Gramik, a Lucknow-based agritech startup, has secured INR 17 crore in a bridge funding round ahead of its upcoming INR 56 crore Series A raise.
  • The funding round included investments via Optionally Convertible Debentures (OCDs) and Compulsorily Convertible Debentures (CCDs).
  • Key investors include Sammaan Global Ventures, Money Creeper Investment, and prominent angels such as Balram Yadav (MD & CEO, Godrej Agrovet), Gev Aryaton, Irfan Alam, Nikhil Bhagat, and Salvia Siddiqui.

Gramik’s Unique Peer Commerce Model

  • Founded in 2021 by Raj Yadav, Gramik empowers over 120 million small and marginal farmers in India through a technology-driven rural commerce platform.
  • The startup operates a dual-channel distribution network using Village-Level Entrepreneurs (VLEs) and rural retailers to deliver high-quality agri-inputs to remote areas.
  • Gramik’s full-stack platform offers demand aggregation, logistics, embedded credit, and agronomy services, ensuring last-mile delivery and support for farmers.

Expansion Plans and Future Growth

  • Gramik currently operates in 12 districts, with 1,200+ active VLEs and 250+ rural retail partners, and plans to expand to 3,000 VLEs and reach 1 million+ farmers across Uttar Pradesh, Maharashtra, and Jammu.
  • The new funds will be used to expand Gramik’s private-label products, enhance agronomy-led farmer engagement, and scale operations in key states.
  • With a strong focus on supply chain efficiency, technology, and farmer advisory services, Gramik aims to become a leader in India’s $50 billion agri-input and rural commerce market.
  • Backed by previous seed funding of over INR 25 crore, Gramik is set to drive innovation and inclusive growth for rural communities.

 

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Reliance Jio Platforms Puts $100 Billion IPO on Hold to Focus on Growth

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Reliance Jio Platforms, the digital and telecom powerhouse led by Mukesh Ambani, has decided to postpone its highly anticipated initial public offering (IPO), shelving plans for a 2025 listing. The IPO, which analysts valued at over $100 billion and expected to be India’s largest-ever stock market debut, will not take place this year. The company has yet to appoint bankers for the process, signaling that preparations for the public offering have not started in earnest.

According to sources close to the matter, Jio Platforms wants to give its business more time to grow before going public. The company is focusing on boosting revenues, expanding its telecom subscriber base, and scaling up its digital services—including apps, connected devices, and AI solutions—so it can achieve a higher valuation when the IPO eventually happens. Nearly 80% of Jio Platforms’ $17.6 billion annual revenue currently comes from its telecom business, Reliance Jio Infocomm, but the company is investing heavily in new digital ventures and partnerships, such as its collaboration with Nvidia on AI infrastructure.

The news of the delay impacted the market, with shares of parent company Reliance Industries falling by up to 1.8% following the announcement. Despite a strong IPO environment in India, Jio’s move is seen as a strategic decision to ensure stronger business fundamentals and a higher valuation before entering the public markets. Major investors, including Google and Meta, are said to support the decision, viewing it as a step toward long-term value creation.

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