Latest news with #PremjiInvest
Entrepreneur
7 days ago
- Business
- Entrepreneur
Bengaluru Tops Karnataka's USD 1.7 Bn Tech Funding in H1 2025: Report
Fintech and enterprise applications led sectoral funding, attracting the highest capital. Among investors, Accel topped with the most deals, followed by active participation from Angel List, LetsVenture, and Premji Invest. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Karnataka's tech sector recorded a total funding of USD 1.7 billion in the first half of 2025, marking a significant decline from previous periods, as per the latest semi-annual report. The report, which assesses the state's tech funding activity across stages, sectors, and investor trends, highlights a continued slowdown in investment momentum. However, despite this downturn, some areas such as fintech and enterprise applications showed resilience. Bengaluru remained the dominant contributor to the funding activity, reinforcing its position as the core hub of Karnataka's tech landscape. Tracxn, which released the Karnataka Tech H1 2025 Funding Report, noted that the overall capital raised dropped by 30% compared to the second half of 2024 and 44% compared to the first half of 2024. The report attributes this contraction to reduced activity across most funding stages, with the exception of early-stage rounds, which showed a slight improvement. Seed-stage funding amounted to USD 141 million, registering a sharp fall of 39% from USD 233 million in the previous half and 41% from USD 239 million in the same period last year. Early-stage investments reached USD 611 million, reflecting a modest 15% increase from H2 2024, although still down 3% year-on-year. Late-stage deals dropped significantly, totaling USD 930 million in H1 2025, down from USD 1.6 billion in the previous half and USD 2.1 billion in H1 2024. Fintech emerged as the leading sector, attracting USD 701 million, more than triple the USD 197 million raised in H2 2024. This also marked a 57% growth from H1 2024. Enterprise Applications followed with USD 619 million, representing steady growth. Retail saw USD 542 million in funding, which, although up 27% from the previous half, was down substantially from the USD 1 billion raised in H1 2024. Only two companies managed to raise over USD 100 million this half, a drop from five such rounds in the same period last year. Groww raised USD 202 million in its Series F round, while Jumbotail secured USD 120 million through a Series D fundraise. These large rounds were predominantly seen in the fintech and retail sectors. On the public markets front, Ather Energy was the sole company to go public in H1 2025. Meanwhile, the state saw the creation of two unicorns, up from one in H2 2024 but fewer than the three seen in H1 2024. In terms of mergers and acquisitions, there were 26 deals in H1 2025. This marked a slight dip from 27 in the previous half but was an improvement over the 21 recorded in H1 2024. The acquisition of Fisdom by Groww for USD 150 million stood out as the largest deal in this period. The second-highest was the USD 26 million acquisition of Fintellix by ICRA. Bengaluru-based companies continued to dominate, accounting for a majority of the deals and total capital raised across the state. The city's role as the nerve center of Karnataka's tech investment activity remained unchanged. Among investors, Accel led with the most number of investments at 34 rounds. Angel List and LetsVenture were also active across stages. In the seed-stage category, Antler, and Rainmatter stood out. Accel, Alteria Capital and Peak XV Partners were the most prominent in early-stage deals, while Premji Invest, SoftBank Vision Fund and Creaegis took the lead in late-stage rounds. India-based Z47 added three new startups to its portfolio during this period. The funding landscape in Karnataka has undoubtedly cooled in the first half of 2025. However, activity in sectors like fintech and enterprise applications suggests that investor interest remains strong in targeted verticals. While overall deal volumes and mega-rounds declined, the emergence of new unicorns and sustained early-stage funding reflect underlying resilience in the state's innovation ecosystem.
The Hindu
20-07-2025
- Business
- The Hindu
Complaint against fake investment firm misusing name of Premji Invest
The Cybercrime police, east division, have registered an FIR against unknown persons for allegedly launching a fake investment website in the name of Premji Invest, misusing the details of the company to cheat gullible investors. There was also an android app named PREMJIEX on Google Playstore and several WhatsApp groups under the same name, which is suspected to be created by the same fraudsters. The admins of these WhatsApp groups have misused the photographs of the management personnel of Premji Investment Advisory LLP, which were available on public domain. According to the complaint, Premji Investment Advisory LLP is the entity responsible for managing the private investments of Azim Premji, and it does not provide any manner of investment advisory to the general public at large, and it is only concerned with its group and affiliated entities. Premji Investment Advisory LLP does not have any social media presence either in its name or under its trade name of Premji Invest, barring a profile on Linkedin. The fraud came to light last month that unknown miscreants have created a website under the domain misusing the trade name Premji Invest. A probe revealed that the accused have been charging money from unsuspecting third parties on the pretext of providing stock market tips and advisory by taking advantage of the reputation Premji Invest. 'They go insofar as to claim that every transaction conducted on the website would contribute some money to the Azim Premji Foundation. They have also published the registration number belonging to the Premji Investment Advisory,' the complaint said. It said that the app on the playstore had a sub-text 'Gujarat Digital' owned by Vishal Ghanshyam, a lead being probed by the police. Efforts are on to track down the miscreants, the police said.
Bloomberg
23-06-2025
- Business
- Bloomberg
Warburg Is Said in Talks to Sell Stake in SBI General Insurance
Warburg Pincus is in talks with Premji Invest and State Bank of India about selling them its stake of about 10% in SBI General Insurance Co., according to people familiar with the matter. The firm is finalizing details of an agreement with Premji Invest — the family office of Wipro Ltd. founder Azim Premji — and State Bank of India, the people said, asking not to be identified because the talks are private. A transaction could value SBI General Insurance at as much as $4.5 billion, the people said.
&w=3840&q=100)
Business Standard
23-06-2025
- Business
- Business Standard
Warburg in talks to sell 10% stake in SBI General to Premji Invest, SBI
Premji Invest and New York-based Warburg Pincus agreed to buy 16.01 per cent and 9.99 per cent of SBI General Insurance, respectively, in 2019 from Insurance Australia Group Ltd Bloomberg By Baiju Kalesh and Manuel Baigorri Warburg Pincus is in talks with Premji Invest and State Bank of India about selling them its stake of about 10 per cent in SBI General Insurance Co., according to people familiar with the matter. The firm is finalizing details of an agreement with Premji Invest — the family office of Wipro Ltd. founder Azim Premji — and State Bank of India, the people said, asking not to be identified because the talks are private. A transaction could value SBI General Insurance at as much as $4.5 billion, the people said. Discussions are ongoing and no final decision has been made, the people said. Warburg Pincus declined to comment. Premji Invest and State Bank of India didn't respond to requests for comment. Premji Invest and New York-based Warburg Pincus agreed to buy 16.01 per cent and 9.99 per cent of SBI General Insurance, respectively, in 2019 from Insurance Australia Group Ltd. in a transaction that was completed in 2020. Based in Mumbai, SBI General Insurance was established in 2009 and offers non-life insurance products including health, motoring, home and travel, according to its website. State Bank of India owns around 70 per cent in the company.
Yahoo
23-06-2025
- Business
- Yahoo
Warburg Pincus in talks to sell stake in India's SBI General Insurance, Bloomberg News reports
(Reuters) -U.S.-based private equity firm Warburg Pincus is in talks to sell its stake in State Bank of India's general insurance unit, Bloomberg News reported on Monday, citing people familiar with the matter. Warburg Pincus is negotiating with Premji Invest, the investment unit of Indian billionaire Azim Premji, and SBI, the country's largest lender, to divest its 10% stake in SBI General Insurance, the report said. The transaction could value SBI General Insurance at as much as $4.5 billion, Bloomberg News reported. Reuters could not independently verify the report. Premji Invest and SBI did not immediately respond to Reuters' request for comment, while Warburg declined to comment. Premji Invest and a Warburg Pincus affiliate bought stakes of 16.01% and approximately 10%, respectively, in SBI General in 2019, in a deal worth $432.38 million. SBI currently owns about 70% of SBI General Insurance. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
