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.
Bengaluru-based investment bank IndigoEdge, in partnership with entrepreneur Hitesh Ahuja, has launched PixelSky Capital, a secondaries fund targeting INR 400 crore. The fund will invest in eight late-stage tech and consumer companies expected to go public within three to four years, with cheque sizes of INR 40–50 crore each. PixelSky has already invested in beauty retailer Purplle and aims to close a second deal by June 2025.
The fund focuses on secondary transactions, allowing existing shareholders to sell stakes to new investors, providing liquidity ahead of IPOs. Founders have committed INR 10–15 crore, with additional capital coming from domestic family offices and startup founders. Final close is expected by March 2026.
Led by Hitesh Ahuja, who sold his foodtech startup Yumlane in 2023, and IndigoEdge cofounder Zerin Rahiman, PixelSky marks IndigoEdge’s expansion from advisory and proprietary investments into fund management. The firm has facilitated over 150 transactions worth around $3 billion and invested INR 25–30 crore as a limited partner in multiple VC funds. PixelSky is currently evaluating about 20 companies before finalizing its portfolio
Meta is developing its first true AR glasses, set to launch in 2027. Before the public release, employees will test the device starting in 2024. The company is also releasing new generations of Ray-Ban smart glasses in 2023 and 2025 with enhanced features like a “viewfinder” display.
Specifications and Features
The AR glasses are expected to feature OLED displays and Qualcomm Snapdragon chipsets, offering sophisticated AR and AI capabilities. They will enable users to interact with virtual objects and project high-quality holograms of avatars onto the real world.
Design and Competition
Meta aims for a sleek design, potentially building on its Ray-Ban partnerships. The AR glasses market is competitive, with Apple and Google also investing heavily. Meta seeks to make its AR glasses a game-changer by offering a unique user experience.
Future Plans
In addition to AR glasses, Meta is expanding its VR offerings with new headsets like the Quest 3 and exploring other wearable technologies. The company is focused on reducing costs to make the AR glasses more consumer-friendly by launch.
MobiKwik is venturing into the stock broking sector with the launch of its subsidiary, MobiKwik Securities Broking Private Limited (MSBPL), following approval from the Ministry of Corporate Affairs on March 3, 2025. This move aims to diversify MobiKwik’s offerings beyond its core digital payments services and compete with established players like Zerodha and Groww.
MSBPL will provide a range of brokerage services, including trading in shares, securities, commodities, and derivatives. The subsidiary has an initial capital of Rs 1 lakh, with plans for an additional Rs 2 crore investment to support its operations.
As MobiKwik enters this competitive market, it brings a substantial user base of 172 million and a merchant network of 5 million. Despite recent financial challenges, including a reported loss of Rs 55.2 crore in Q3 FY25, the company aims to leverage its existing infrastructure and user engagement to capture a share of the growing investment technology market, projected to reach $74 billion by 2030.
This strategic expansion aligns with MobiKwik’s broader goals of enhancing its financial service