HARSH JAIN
Urban Company turns profitable; GlobalBees faces insolvency
IPO-bound at-home services company Urban Company turned profitable in FY25. This and more in today’s ETtech Top 5.
From Paytm to MakeMyTrip: How Indian startups are unwinding Chinese ownership
India’s largest online travel platform plans to raise $3 billion through a mix of debt and equity to buy back shares from Trip.com Group. Other Indian companies have also been reducing the stakes held by Chinese investors after geopolitical tensions between the two nations.
MakeMyTrip plans $3 billion buyback; China’s Trip.com stake to drop below 20%
MakeMyTrip intends to raise $3 billion through debt and equity to repurchase shares from Group, reducing their stake from 45.34% to 19.99%. This move follows allegations of data security concerns related to Chinese shareholding. The company reported record gross bookings and profits for FY25, despite a share price drop after the announcement.
Groww FY25 profit triples; Qcomm growth beyond metros
Happy Friday! IPO-bound fintech major Groww has reported a three-fold jump in its net profit for FY25. This and more in today’s ETtech Morning Dispatch.
Top tech and startup stories this week
Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.
Cleevo raises $1 million in funding led by Eternal Capital
The funding will expand manufacturing and R&D. Cleevo plans digital-first distribution and international expansion.
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Dhan closes in on $200 million fundraise from ChrysCap, Alpha Wave, MUFG
Dhan, an online stock trading platform, is poised to become a unicorn with a $190-200 million funding round led by ChrysCapital. The investment, which includes participation from Alpha Wave, MUFG, and Sunil Mittal's family office, will value the company at $1.1 billion. Dhan's focus on high-frequency traders and profitability have attracted investors amidst regulatory changes in the Indian stock market.
Dhan’s funding nears close; BNPL gets regulated out
Happy Thursday! Stock broking startup Dhan is poised to finalise its long-awaited funding round. This and more in today’s ETtech Morning Dispatch.
Citykart’s big haul; A new AI race
Happy Tuesday! Value fashion retailer Citykart has raised fresh funds to fuel its expansion plans. This and more in today’s ETtech Morning Dispatch.
Groww files for IPO; FirstCry, Nazara, Awfis report Q4 earnings
Wealthtech platform Groww is heading for the public markets after confidentially filing its draft IPO papers. This and more in today’s ETtech Top 5.
1mg’s offline push; cyberattacks on the rise
Happy Wednesday! Tata Digital’s epharmacy, 1mg, is looking to expand its offline presence amid talks of fresh funding. This and more in today’s ETtech Morning Dispatch.
Dream11 parent to invest $50 million in Times Internet’s Cricbuzz and Willow TV
Dream Sports, a Mumbai-based sports tech company, will invest $50 million in Cricbuzz and Willow TV, both owned by Times Internet, securing a strategic minority interest. This collaboration aims to enhance fan experiences through real-time analysis, engagement, and AI-driven predictions. Dream Sports seeks to expand its presence beyond India, previously joining the ownership group of Salford City FC.
Billdesk cofounder MN Srinivasu appointed IAMAI chairman for two years
Srinivasu replaces Harsh Jain, cofounder and chief executive of Dream Sports, who assumed the post in May 2023. Before Jain, Sanjay Gupta, vice president and country manager of Google, had held the office.
Dream Sports joins David Beckham, Gary Neville-led ownership group of Salford City FC
Dream Sports has joined the ownership group of Salford City FC, marking its entry into football club ownership. Part of a consortium with football icons David Beckham and Gary Neville, the company plans major investment in the club. The move supports Dream Sports’ global expansion amid challenges in India’s online gaming sector.
Dream Sports, Microsoft join forces to expand gaming footprint in India
Dream Sports and Microsoft have partnered to enhance India's gaming market, leveraging Dream Sports' extensive user base and Microsoft's AI expertise. The collaboration, announced at WAVES 2025, aims to publish Microsoft's gaming titles locally and develop AI-driven gaming experiences tailored for Indian gamers. This initiative taps into India's booming $3.8 billion gaming market, which boasts 600 million gamers.
How a Rs 40,000 monthly SIP is helping one father secure his daughter’s dreams and his retirement
Mumbai’s Harsh Jain showcases how disciplined SIP investing can secure major life goals like education, marriage, and retirement. With a Rs 40,000 monthly SIP and plans to boost it by Rs 15,000, he is on track to build significant wealth. Experts advise staying inflation-aware, simplifying fund choices, and consistently stepping up investments to achieve financial freedom over time.
Groww gets CCI approval for bonus shares, founders relinquish extra voting rights
Fintech startup Groww has received CCI approval for issuing bonus shares, aligning voting rights, and preparing for a public listing in India, aiming for $6-8 billion valuation.
Dream11’s Co-founder Harsh Jain buys luxury apartment in SOBO’s Malabar Hill for Rs 138 cr
Harsh Anand Jain, CEO of Dream11, purchased a luxury sea-view apartment in Malabar Hill, Mumbai for over Rs 138 crore. The property, on the 23rd habitable floor of Lodha Malabar, spans 9,546 sq ft and includes six car parking slots. Mumbai leads property sales fueled by strong demand across various segments in 2024.
Harsh Jain, Aakrit Vaish to chair TEAM governing council
Dream Sports cofounder and CEO Harsh Jain and Haptik CEO Aakrit Vaish to chair its eight-member governing council in its inaugural elections starting from April 1 for a two-year term.
Startup Mahakumbh | Fintechs should work with regulators, not try to bypass them: Groww cofounder Harsh Jain
During Day 2 of Startup Mahakumbh, Groww's cofounder and chief operating officer Harsh Jain said one needs to have respect for the rules and regulations around.
Indian firms oust Big Tech companies from IAMAI in poll coup
Dream11 cofounder and chief executive Harsh Jain has been elected the chairperson of the IAMAI, Makemytrip cofounder and group CEO Rajesh Magow is the vice-chairperson, and Times Internet’s Satyan Gajwani has been elected as the treasurer.
Employees of this $8 bn startup are fined Rs 1,00,000 if they try to contact co-workers during vacation
In many cases employees are flooded with work-related calls even during holidays.
Suits & Sayings: Anand Jain's son steals the show at Singhania's bash; IPL team boss dials Harish Salve for help; mini Infy reunion at Mohandas Pai's son's wedding
Singhania's party last week was no exception either as chitchat, cocktails and the chatterati mingled effortlessly through the evening.
ET Startup Awards 2021: Here's what jury members expect in a winner
Ankiti Bose, the cofounder of Zilingo, Harsh Jain, CEO, Dream Sports and Satyan Gajwani, vice-chairman, Times Internet, detail qualities that make the best great.
Dream Sports raises $400 million in secondary investment
“This is a huge vote of confidence to the Indian start-up ecosystem,” said Harsh Jain, CEO and Co-Founder, Dream Sports. “We have created the fantasy sports category in India to drive digital engagement to real-life sporting events and bring fans closer to the sport they love. We are proud to continually contribute to the overall expansion of the Indian sports ecosystem.”
FPIs invest Rs 15,958 cr in first week of May
The latest inflow comes after two consecutive months of huge withdrawals.
Harsh Jain pitched Dream11 for 3 years, was turned down by 150 investors
The cofounder of unicorn Dream 11 says entrepreneurs should start meeting investors much before they’re ready to.
Investors chase Dream11, valuation may hit $2.25 billion
ChrysCapital, Facebok co-founder Saverin’s B Capital Group and others in talks to fund firm.
'Greenlight from the court kept our Dream11 alive'
This series captures the defining moment of a prominent personality in India’s startup ecosystem. Today we bring you insights from Dream11’s CEO Harsh Jain.
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