Hello,
The new IPO wave has caught stock brokers in euphoria.
Investment platform Groww’s parent reported a nearly 3X increase in net profit to Rs 1,819 crore in FY25. Its revenue soared 31% year-on-year to Rs 4,056 crore, according to a document seen by YourStory. It also showed that the IPO-bound firm has also closed a Series F funding round, raising $200 million at a valuation of $7 billion.
Then there’s a contraction in some spheres.
House of brands startup BRND.ME, formerly known as Mensa Brands, has sold MensXP’s parent entity, India Lifestyle Network, to RPSG Group as it takes “strategic calls to simplify our portfolio.” According to an earlier report by Mint, the company had sold its stake in wearables maker Pebble and is also looking to exit Renee Cosmetics.
Tesla is not doing too well either. Swedish pension fund AP7 blacklisted the company and sold all its shares due to violations of union rights in the US. It’s also facing a pushback from the EU on its full self-driving technology.
However, that hasn’t dampened the spirits of environmentally conscious consumers.
In May 2025, 1.6 million EVs were sold worldwide, according to EV research firm Rho Motion. China alone contributed to over a million sales.
Lastly, Amazon finally joined the quick commerce race as well, with its 10-minute delivery service, Amazon Now, launching in select Bengaluru neighborhoods. Better late than never!
In today’s newsletter, we will talk about
- Spotlighting India as a GCC leader
- How GCCs can harness AI
- Karnataka dominates the GCC talent market
Here’s your trivia for today: ISRO partnered with which company to explore sustainable space exploration?
GCC Summit
Spotlighting India as a GCC leader
The inaugural YourStory GCC Summit 2025 brought together all the important stakeholders of the global capability centre (GCC) ecosystem in the country under one roof, facilitating extensive conversations, discussions, and networking.
The speakers at the summit were in unison about one thing: India is no longer just a cost play and it has moved up the value chain. The GCCs in India today have the advantage of not just the scale of operations but also adaptability in terms of adopting the latest technology.
Workplace innovation:
- The speakers deliberated across panel discussions, leadership presentations, and fireside chats, encompassing a gamut of subjects including building future-ready workplaces, the financial services industry’s relationship with technology, and the emergence of global leaders from India.
- The dominant theme at the summit was that of AI and agentic AI. Speakers provided the contours of how this technology is likely to play out in the future and, more importantly, how humans can engage with AI to create a potent force for the future.
- YourStory also recognised outstanding companies and individuals with YourStory GCC Summit Awards. The awards were given across 10 categories and included two women leaders.
Top Funding Deals of the Week
Startup: Glean
Amount: $150M
Round: Series F
Startup: GIVA
Amount: Rs 450 Cr
Round: Series C
Startup: FlexiLoans
Amount: Rs 375 Cr
Round: Series C
GCC Summit
How GCCs can harness AI
The objective of GCCs should be to create value differentiation, and AI will play a role in driving this innovation, according to a senior executive from the financial services industry.
In a fireside chat on the topic ‘Tomorrow’s financial infra: GCCs driving global innovation in BFSI’ at the YourStory GCC Summit 2025, Arindam Banerrji, Executive Vice President & Country Head, State Street, said GCCs should look at steps that actually lead towards the goal of innovation.
Driving value:
- In a conversation, the State Street executive noted that the key goal of GCCs should be how they can utilise emerging technologies like AI to move from process-driven activities to innovation.
- According to Banerrji, AI is a representation of increased computing power which is giving wider choices to the customers. However, this also leads to the question of setting up adequate guardrails to any potential pitfalls in the use of AI.
- Banerrji said the biggest beneficiary from the world of AI will be the small and medium enterprises if they can adapt to this platform. However, he added that it is important that such enterprises undertake reskilling.
GCC Summit
Karnataka dominates the GCC talent market
India is now the epicentre of GCCs, considering more than 50% of these centres are located in the country.
YourStory, in partnership with specialist staffing firm Xpheno, has captured the framework of talent in Karnataka and mapped it with other constituencies in its report, ‘Karnataka GCCs: The Specialist Talent Advantage’, at the inaugural YourStory GCC Summit 2025 held in Bengaluru on Friday.
Bharat ke Innovators
Powering drone operations with 5G telemetry
FxUAV is on a mission to revolutionise real-time aerial monitoring using intelligent, secure, and scalable telemetry systems and resolve the limitations of traditional drones with 5G-enabled telemetry solutions.
Indigenous battery tech for India’s EVs
India’s transition to electric mobility has been hindered by its dependence on imported Battery Management System (BMS) units. Webber is stepping in to fill this gap with the WBMS-SWLT, a robust, ICAT-certified BMS tailored for Indian conditions.
News & updates
- Redirection: Nearly every iPhone that Foxconn exported from India between March and May went straight to the United States, customs data reviewed by Reuters show. Shipments during the three-month stretch were valued at $3.2 billion, with an average 97% heading to US shores
- AI influence: Data-labelling company Scale AI confirmed that it has received a “significant” investment from Meta that values the startup at $29 billion. The startup also said its co-founder and CEO Alexandr Wang is stepping down from his role to join Meta.
- New chip: AMD launched its MI350 line of AI chips and detailed its next-generation MI400 line of GPUs as part of its Advancing AI event. The company also unveiled its AMD Developer Cloud, which gives developers access to the company’s AI processors via its cloud computing infrastructure.
ISRO partnered with which company to explore sustainable space exploration?
Answer: Wipro 3D. The collaboration resulted in an additively manufactured rocket engine.
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