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iB Cricket Bags Startup Of The Year Award At Entrepreneur India 2019

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iB Cricket Bags Startup Of The Year Award,Entrepreneur India 2019,Startup Stories,iB Cricket,iB Cricket Startup Award,iB Cricket Immersive VR Game,World’s First Virtual Reality Cricket,iB Cricket Super Over League,iB Cricket Awards

Young startup iB Cricket was awarded the Startup Of The Year (VR Technology) Award at Entrepreneur India 2019.  Entrepreneur India 2019 was the flagship annual event of Entrepreneur Media and had many startups competing for the prestigious Startup of the Year Award. 

iB Cricket, a virtual reality sport, is developed by XR technology based startup ProYuga, which is backed by iB Hubs.  ProYuga, based in Hyderabad, was co founded by Sama Vasantha Sai, an IIIT Hyderabad alumni and Kothinti Trivikrama Reddy, an IIT Delhi alumni who turned down a Rs. 1 crore job offer at a reputed MNC, prior to founding ProYuga. 

iB Cricket is a highly immersive true sport virtual reality (VR) game with a potential to reach 500 million users across the world.  This VR sport provides a complete gaming environment and gives a very realistic experience of playing cricket at magnificent stadiums, thanks to the game’s meticulous design.  The game has a personalized AI coach and many global tournaments, which allow users to build their cricket career like that of their favorite cricketer’s. The startup has been strengthening its presence in India and also expanded to countries like UK, Singapore, Australia and Dubai.

iB Cricket achieved many milestones since its inception and recently collaborated with Viu to host the world’s first virtual reality cricket tournament, the iB Cricket Super Over League, where 12 prominent international cricketers like Virender Sehwag, Suresh Raina, Herschelle Gibbs and McCullum competed against each other.  iB Cricket also became the official VR gaming partner of 5 IPL teams—Chennai Super Kings, Delhi Capitals, Rajasthan Royals, Kolkata Knight Riders and Royal Challengers Bangalore.

With a goal to make India a world leader in advanced technologies, iB Cricket and ProYuga work to provide VR platforms for immersive games at gaming arcades all over India. 

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Inverstors Stories

Info Edge Shareholders Approve ₹1,000 Crore Investment in New Venture Fund

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Info Edge

Info Edge (India) Ltd shareholders have overwhelmingly approved an investment of up to ₹1,000 crore in the company’s third venture capital fund, Info Edge Ventures Fund III. The proposal received near-unanimous backing, with 99.9995% of valid votes in favor out of 1,274 participants.

Smartweb Internet Services Ltd, a wholly owned Info Edge subsidiary, will act as sponsor and investment manager for the new fund. This move strengthens Info Edge’s commitment to backing early-stage startups and expanding its footprint in India’s venture capital landscape.

Info Edge has a strong track record as an early investor in leading Indian startups like Zomato and PB Fintech, with combined holdings in these firms valued at ₹31,500 crore ($3.7 billion) as of March 31, 2025.

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Entrepreneur Stories

Razorpay Partners with MeitY Startup Hub to Accelerate Deeptech Innovation in Tier II and III Cities

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Razorpay

MeitY Startup Hub (MSH), under the Ministry of Electronics and Information Technology, has partnered with fintech leader Razorpay to support the growth of deeptech and emerging tech startups across India, with a special focus on those in Tier II and III cities. Through this collaboration, early-stage startups will gain access to Razorpay’s fintech infrastructure, mentorship, and resources via the Razorpay Rize program.

Startups in areas like AI, blockchain, robotics, and IoT will benefit from streamlined company incorporation support, expert mentorship, product credits, and guidance for applying to global accelerators such as Y Combinator. Selected founders will also join the exclusive Rize Community, connecting with peer networks and attending masterclasses.

MSH CEO Panneerselvam Madanagopal emphasized that this partnership will help founders scale faster by providing vital support in mentorship, capital access, and digital infrastructure. As India’s startup ecosystem surpasses 159,000 DPIIT-recognised startups, this initiative aims to give deeptech entrepreneurs the tools and networks needed to innovate for India and expand globally.

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Funding

Info Edge Delivers 36% Returns on Startup Investments

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Infoedge

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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