• Startup Pulse
    altM raises $10.3 million in a Series A round led by Rainmatter by Zerodha and Mela Ventures, with Omnivore, Theia Ventures, Aureolis Ventures, Spectrum Impact and strategic angel investors participating. Venomics AI raises $2.7 million in a pre-seed round co-led by Speciale Invest and South Park Commons, with Operators Studio participating. EloElo Group raises $80 million in a Series C round led by Hornbill Capital and NBCUniversal, with MIT Investment Co. and existing investors participating. Peppermint Robotics raises ₹100 crore (approximately $10.5 million) in a Pre-Series B round led by pi Ventures and Crane Venture Partners, with Asiana Fund participating. Traversal raises $120 million in a Series B round at a $1 billion valuation, led by Kleiner Perkins, Redpoint and Khosla Ventures, with Sequoia Capital, Battery Ventures and Amex Ventures participating. GIVA raises over $100 million in a round led by Multiples Alternate Asset Management. The Croffle Guys raises ₹14 crore in a round led by V3 Ventures, with N.A.N Partners participating. Solgram raises over $1 million in a pre-seed round led by DSG Consumer Partners and Saama Capital, with Kapil Chopra participating. Sachin Tendulkar makes a strategic investment in Metasports Interactive, the company behind Hitwicket. The amount was not disclosed. Hyeglo Beauty raises ₹7 crore in a round led by Sauce, with Giga Capital, Consumer Collective, Reckitt's Arjun Purkayastha and The Patient Capital participating. altM raises $10.3 million in a Series A round led by Rainmatter by Zerodha and Mela Ventures, with Omnivore, Theia Ventures, Aureolis Ventures, Spectrum Impact and strategic angel investors participating. Venomics AI raises $2.7 million in a pre-seed round co-led by Speciale Invest and South Park Commons, with Operators Studio participating. EloElo Group raises $80 million in a Series C round led by Hornbill Capital and NBCUniversal, with MIT Investment Co. and existing investors participating. Peppermint Robotics raises ₹100 crore (approximately $10.5 million) in a Pre-Series B round led by pi Ventures and Crane Venture Partners, with Asiana Fund participating. Traversal raises $120 million in a Series B round at a $1 billion valuation, led by Kleiner Perkins, Redpoint and Khosla Ventures, with Sequoia Capital, Battery Ventures and Amex Ventures participating. GIVA raises over $100 million in a round led by Multiples Alternate Asset Management. The Croffle Guys raises ₹14 crore in a round led by V3 Ventures, with N.A.N Partners participating. Solgram raises over $1 million in a pre-seed round led by DSG Consumer Partners and Saama Capital, with Kapil Chopra participating. Sachin Tendulkar makes a strategic investment in Metasports Interactive, the company behind Hitwicket. The amount was not disclosed. Hyeglo Beauty raises ₹7 crore in a round led by Sauce, with Giga Capital, Consumer Collective, Reckitt's Arjun Purkayastha and The Patient Capital participating.
  • IGI Q3 CY25 Financials: Revenue Up 21 Per Cent, EBITDA Grows 20 Per Cent

    IGI Q3 CY25

    Mumbai: International Gemmological Institute (India) Limited, one of the world’s largest independent grading and accreditation service providers, delivered a strong performance in Q3 CY25, supported by consistent momentum across natural diamonds, lab-grown diamonds, jewelry, and gemstones (IGI Q3 CY25).

    During IGI Q3 CY25, the company reported a 21% year-on-year revenue growth to ₹3,037 million and a 20% rise in EBITDA to ₹1,763 million. Profit After Tax (PAT) stood at ₹1,298 million, marking an 18% YoY growth, while EBITDA margins improved to 58%.

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    Strong Nine-Month Performance in IGI Q3 CY25 Period

    For the nine months ended September 2025, IGI reported a 15% increase in revenue to ₹9,094 million, 22% growth in EBITDA to ₹5,454 million, and a 27% surge in PAT to ₹3,971 million. The company’s EBITDA margins strengthened from 57% in 9M CY24 to 60% in 9M CY25, while PAT margins improved from 40% to 44%.

    Tehmasp Printer, Managing Director and CEO of IGI, said, “The company delivered 26% growth in report volume this quarter, driving a 21% increase in revenues. Despite macroeconomic challenges, we achieved strong growth across all categories, supported by festive demand. Our core segments – natural diamond and lab-grown diamond certification – recorded over 25% volume growth this quarter.”

    IGI Q3 CY25: Industry Trends and Strategic Outlook

    IGI highlighted the transformation of the global diamond and jewelry industry, shaped by evolving consumer preferences, technology adoption, and increasing demand for certified gemstones.

    Also Read: Sabyasachi and Tata CLiQ Luxury Launch Digital Jewellery Boutique

    The company noted that the rising acceptance of lab-grown diamonds (LGDs), coupled with growing demand for authenticity and transparency, has positioned IGI as a key global certification leader.

    With multiple service delivery models, including IGI Labs, In-factory Labs, and Mobile Labs, the institute continues to strengthen its customer relationships and expand its global footprint. Backed by Blackstone, IGI operates 31 laboratories and 18 Schools of Gemology across 10 countries, maintaining a 50% market share in India.

    As the diamond certification market continues to evolve, IGI remains focused on innovation, sustainability, and leadership in quality assurance, reinforcing its position as the preferred certification partner for the jewelry industry.

    Author

    • Salil Urunkar

      Salil Urunkar is a senior journalist and the editorial mind behind Sahyadri Startups. With years of experience covering Pune’s entrepreneurial rise, he’s passionate about telling the real stories of founders, disruptors, and game-changers.

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