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Economic Times
31-07-2025
- Business
- Economic Times
Standard Chartered India profit rises 11% despite shrinking loan book
Standard Chartered Bank reported a 11% rise in profit before tax from India in the first half of 2025 despite a shrinking of its loan book mainly as expenses were kept in control. Profit before tax increased to $333 million in the six months ended June 2025 from $299 million in the same period a year ago as operating expenses rose just 0.45% year on year. ADVERTISEMENT Total income increased 6% to $795 million in June 2025 from $753 million in June 2024, half yearly results released by the bank on Thursday showed. Operating expenses remained little changed at $442 million versus $440 million a year ago. The bank's loan book in India shrunk 8% to $13.61 billion from $14.79 billion a year ago. Deposits also shrunk to $25.26 billion from $27.26 billion a year ago. Total impairment costs increased 43% to $20 million from $14 million a year ago. India was the third largest contributor to the bank's global contributor behind Hong Kong ($1.44 billion) and Singapore ($798 million). This is an improvement from the fifth place the bank occupied behind the US and UAE at the end of the bank reported a 26% increase in first-half pretax profit, driven by growth in the bank's wealth and markets businesses. The London-headquartered lender's pretax profit for the first six months of this year hit $4.38 billion, better than the $3.83 billion analysts had forecast. Total income was helped by a $238 million gain on the sale of B2B marketplace Solv India to Jumbotail last month. Solv India was incubated by Standard Chartered Ventures. (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
31-07-2025
- Business
- Time of India
Standard Chartered India profit rises 11% despite shrinking loan book
Standard Chartered Bank reported a 11% rise in profit before tax from India in the first half of 2025 despite a shrinking of its loan book mainly as expenses were kept in control. Profit before tax increased to $333 million in the six months ended June 2025 from $299 million in the same period a year ago as operating expenses rose just 0.45% year on year. Total income increased 6% to $795 million in June 2025 from $753 million in June 2024, half yearly results released by the bank on Thursday showed. Operating expenses remained little changed at $442 million versus $440 million a year ago. Explore courses from Top Institutes in Please select course: Select a Course Category Technology Project Management Design Thinking Digital Marketing Management Artificial Intelligence Data Analytics Degree Cybersecurity Data Science healthcare Finance Leadership Product Management Healthcare others Operations Management CXO Others Public Policy MBA MCA PGDM Data Science Skills you'll gain: Duration: 12 Weeks MIT xPRO CERT-MIT XPRO Building AI Prod India Starts on undefined Get Details The bank's loan book in India shrunk 8% to $13.61 billion from $14.79 billion a year ago. Deposits also shrunk to $25.26 billion from $27.26 billion a year ago. Total impairment costs increased 43% to $20 million from $14 million a year ago. India was the third largest contributor to the bank's global contributor behind Hong Kong ($1.44 billion) and Singapore ($798 million). This is an improvement from the fifth place the bank occupied behind the US and UAE at the end of 2024. Globally the bank reported a 26% increase in first-half pretax profit, driven by growth in the bank's wealth and markets businesses. The London-headquartered lender's pretax profit for the first six months of this year hit $4.38 billion, better than the $3.83 billion analysts had forecast. Total income was helped by a $238 million gain on the sale of B2B marketplace Solv India to Jumbotail last month. Solv India was incubated by Standard Chartered Ventures .
Entrepreneur
05-07-2025
- Business
- Entrepreneur
Top Venture Capital Deals of the Week (June 28–July 04)
Stay updated on this week's most impressive startup fundings, the key investors involved, and the sectors that are drawing the most venture capital interest. Opinions expressed by Entrepreneur contributors are their own. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. India's startup ecosystem remained vibrant this week with a mix of B2B marketplaces, climate-tech innovations, agritech solutions, and consumer-focused ventures that successfully secured funding. From revolutionising local kirana stores to creating eco-friendly alternatives to plastic, let's dive into the standout startup funding highlights of the week: Jumbotail Inception: 2015 2015 Founders: S Karthik Venkateswaran and Ashish Jhina S Karthik Venkateswaran and Ashish Jhina Based-out: Bengaluru Jumbotail is a B2B online marketplace aimed at revolutionising food and grocery retail for India's ubiquitous kirana stores. It provide a comprehensive platform that covers everything from digital ordering and warehousing to logistics and fintech solutions, plus a modern retail network called J24. With their GoldenEye Retail Operating System, Jumbotail is helping small retailers go digital and modernize, giving them a fighting chance against larger retail chains. Funding Amount: USD 120 Million Investors: SC Ventures, Artal Asia Eggoz Inception: 2017 2017 Founders: Abhishek Negi, Aditya Singh, and Uttam Kumar Abhishek Negi, Aditya Singh, and Uttam Kumar Based-out: Gurugram Eggoz is a tech-enabled egg farming company that focuses on producing and selling high-quality, nutritious eggs. It offers brown, white, and Nutra eggs, and also sell egg-based products like burgers and nuggets. Eggoz operates a farm-to-consumer model, ensuring freshness and hygienic practices, and is expanding its presence both online and offline. Funding Amount: USD 20 Million Investors: Gaja Capital, IvyCap Ventures, Rebright Partners, Avaana Capital, NABVENTURES, and others AppsForBharat Inception: 2020 2020 Founder: Prashant Sachan Prashant Sachan Based-out: Bengaluru AppsForBharat is a leading faith-tech company focused on spiritual engagement through digital tools. Its flagship app, Sri Mandir, allows users to engage in virtual pujas, send chadhava (offerings), receive prasad, and stream devotional content, bridging traditional faith practices with digital convenience. Funding Amount: USD 20 Million Investors: Susquehanna Asia Venture Capital, Fundamentum, Elevation Capital, Peak XV Partners Aukera Inception: 2023 2023 Founders: Lisa Mukhedkar and Kumar Saurabh Lisa Mukhedkar and Kumar Saurabh Based-out: Bengaluru Aukera is a premium lab-grown diamond jewelry brand offering IGI-certified diamonds through an omnichannel retail model. With 13 company-owned stores in metro cities, Aukera caters to modern consumers seeking sustainable and ethical luxury. The brand offers a range of rings, earrings, pendants, and more, blending traditional and contemporary designs. Funding Amount: USD 15 Million Investors: Peak XV Partners, Fireside Ventures, Sparrow Capital, Prath Ventures, Alteria Capital Bambrew Inception: 2019 2019 Founder: Vaibhav Anant Vaibhav Anant Based-out: Bengaluru Bambrew is a sustainability-focused startup replacing single-use plastic with compostable packaging made from bamboo fiber, agro-waste, and recycled paper. It serves multiple industries, helping businesses meet their sustainability goals while reducing plastic dependency. Funding Amount: USD 10.3 Million Investors: Ashok Goel, ENRISSION INDIA CAPITAL Eeki Inception: 2018 2018 Founders: Abhay Singh and Amit Kumar Abhay Singh and Amit Kumar Based-out: Kota Eeki is transforming agriculture with IoT-enabled, climate-controlled aeroponic farms. These farms grow pesticide-free vegetables at scale, making sustainable farming both viable and cost-efficient. The company partners with landowners to convert non-arable land into productive farmland. Funding Amount: USD 7 Million Investors: Sixth Sense Ventures Zango AI Inception: 2024 2024 Founders: Ritesh Singhania and Shashank Agarwal Ritesh Singhania and Shashank Agarwal Based-out: Bengaluru and San Francisco Zango AI offers a regulatory compliance platform that combines AI-powered agents with human expertise to automate critical compliance functions like horizon scanning, gap analysis, and controls testing. It aims to streamline compliance for financial services and other complex sectors. Nexus Venture Partners, South Park Commons, and notable angels including Richard Davies and Alan Morgan
Time of India
04-07-2025
- Business
- Time of India
ETtech Deals Digest: Startups raise $221 million this week, down 45% on-year
Academy Empower your mind, elevate your skills Startups raised around $221.4 million during the week of June 28 to July 4, marking a 45.1% drop from the $403.1 million raised during the same period last year, according to data from amount also marked a 19.9% decrease over the $276.3 million raised last activity, too, remained muted this week, with 19 transactions recorded during the period. This was less than half of the 48 deals seen in the corresponding week last year.: Business-to-business (B2B) ecommerce marketplace Jumbotail raised $120 million in a funding round led by SC Ventures, the investment arm of financial services company Standard Chartered. The Bengaluru-based company is now valued at over $1 billion on a post-money basis, becoming the fifth startup to enter the unicorn club in 2025.: AppsForBharat, the parent company of devotional platform Sri Mandir, raised $20 million in a funding round led by Susquehanna Asia Venture Capital. The round also saw participation from other existing investors, Nandan Nilekani's Fundamentum, Elevation Capital, and Peak XV Partners.: Egg-focussed consumer brand Eggoz raised $20 million in a funding round led by Gaja Capital. Existing backers IvyCap Ventures, Rebright Partners, Avaana Capital, Merisis Opportunities Fund, Nabventures, Blue Dot Capital, and Artek Chemicals also participated in the round.: Lab-grown diamond jewellery company Aukera raised $15 million in its latest funding round led by Peak XV Partners. Existing investors Fireside Ventures, Sparrow Capital, Prath Ventures, and Alteria Capital also participated in the round.
Entrepreneur
01-07-2025
- Business
- Entrepreneur
Jumbotail Turns Unicorn Following USD 120 Mn Raise Led by SC Ventures
As part of a strategic expansion, Jumbotail also announced the successful acquisition of Solv India, a B2B commerce and financial services platform incubated by SC Ventures. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Jumbotail, India's leading B2B marketplace and new retail platform for food and grocery, has raised USD 120 million in a Series D funding round led by SC Ventures, the innovation and investment arm of Standard Chartered Plc. Existing investor Artal Asia also participated, bringing the company's total funding to USD 263 million. The fresh capital will be deployed to scale Jumbotail's AI-native solutions and capabilities, accelerating its mission to become the most efficient and scalable gateway to mass-market consumption in India. The funds will also support talent acquisition across multiple verticals including product management, AI/ML, supply chain, and marketing. As part of a strategic expansion, Jumbotail also announced the successful acquisition of Solv India, a B2B commerce and financial services platform incubated by SC Ventures. The acquisition, approved by the Competition Commission of India (CCI), positions the combined entity as one of India's largest horizontal B2B platforms, catering to kiranas, MSMEs, and brands across multiple categories including food and grocery, apparel, footwear, consumer electronics, and more. "This is a transformative moment in our journey," said Ashish Jhina, Co-founder and COO of Jumbotail. "Together with Solv, we now help thousands of brands and MSMEs reach over 500,000 small retailers across more than 400 cities and towns in India." Founded in 2015 by S Karthik Venkateswaran and Ashish Jhina, Jumbotail offers a full-stack suite of services to modernise India's traditional retail ecosystem. Its offerings include a digital marketplace, logistics infrastructure, working capital solutions, the J24 New Retail convenience store network, and the GoldenEye Retail Operating System for retail transformation. "With strong fundamentals, a clear path to profitability, and a mission-driven team, Jumbotail and Solv are uniquely positioned to transform India's B2B commerce landscape," said S Karthik Venkateswaran, Co-founder and CEO of Jumbotail. "Our vision goes beyond commerce—we aim to build an inclusive economic engine for India's future." Gautam Jain of SC Ventures, who will join Jumbotail's board, added, "This integration represents a leap forward in empowering MSMEs through responsible innovation and financial inclusion." Jumbotail's AI-powered platform enables small retailers to digitise operations, access credit, and compete effectively in India's evolving retail sector. With over 500,000 retailers and 2,000 brands onboard, the company is at the forefront of shaping India's next-generation retail infrastructure.
