What startups want from Budget 2025; Crypto cos woo WazirX users

Hello,

No more stock tips on social media?

In a major setback to finfluencers, the Securities and Exchange Board of India has issued a new circular that prevents unregistered market advisors from using live stock market data in educational content.

Finfleuncers can only reference stock prices with a three-month lag to prevent implied investment recommendations. The move is part of an ongoing effort to curb misleading investment claims and ensure compliance within the financial ecosystem.

Meanwhile, the quick commerce segment keeps getting more intense by the day. Zepto on Thursday said it has launched instant exchange and returns for select product categories, per a LinkedIn post from the company. 

The service will cover categories such as electronics, apparel, toys, sports, and kitchenware. Depending on the category, customers will be able to return or exchange items within a 1-day, 3-day and 7-day window.

Another player, Zomato's Blinkit launched a 10-minute returns and exchanges feature in October 2024. 

ICYMI: As online bookstores continue to get filled by AI-generated slop, a new project aims to certify books written by humans.

Lastly, DeepSeek has opened up the AI race, and here’s why India can leapfrog into the future.

In today’s newsletter, we will talk about 

• What MSMEs want from Budget 2025
• Crypto cos woo WazirX users
• Crafting a jewellery brand

Here’s your trivia for today: What Lamborghini model does Bruce Wayne drive in the movie Batman Begins?

MSME

What startups want from Budget 2025

With Union Budget 2025 on the horizon, stakeholders from across industries are eagerly awaiting reforms and policies aimed at addressing key economic challenges and driving growth. Businesses are hoping for measures to boost investments, improve the ease of doing business, and promote digital transformation.

Wishlist:

• Startups and MSMEs expect tax relief, simplified compliance, and access to funding, while sustainability-focused sectors are calling for incentives to adopt green practices.
• Additionally, individuals anticipate higher income tax exemptions and benefits to support consumption and savings.
• Indian taxpayers, particularly the middle class and the corporate sector, are eagerly anticipating tax reforms in Finance Minister Nirmala Sitharaman’s eighth Budget speech on February 1, 2025.

<Funding Alert>

Startup: SuperOps 

Amount: $25M

Round: Series C

Startup: Salad Days

Amount: Rs 30 Cr

Round: Series A 

Cryptocurrency

Crypto cos woo WazirX users

Following a cyberattack in July 2024, crypto exchange WazirX is now gearing up to reopen its platform. The event has left its competitors racing to acquire its users, as the dynamics in the Indian crypto ecosystem shift for new opportunities.  

Earlier this month, CoinSwitch launched a Rs 600 crore initiative—CoinSwitch Care—for users impacted by the alleged cyberattack that resulted in the theft of over $230 million worth of digital assets. 

Key takeaways:

• CoinSwitch aims to help affected users earn back their funds through signup rewards, revenue redistribution, and referral rewards. However, these rewards will start accruing only after WazirX reopens its platform. 
• In the months following the WazirX cyberattack, CoinDCX Co-founder and CEO Sumit Gupta took to social media platform X to hint at a potential buyout of the company. 
• Since hinting at a buyout, CoinDCX has now changed gears. The Mumbai-based company has been silent about the WazirX hack, and instead, announced a new initiative to develop India’s first homegrown custody solution, Bharat Custody, setting aside Rs 50 crore for research and development. 

Women entrepreneurs

Crafting a jewellery brand

In 2016, Rituu Jhaveri founded Rowa's Jewels under the parent company, Rosette India, which had a legacy in the luxury market. The idea was to build a bespoke experience that appealed to a select clientele. 

The bespoke jewellery market has its own set of challenges, but Jhaveri says she was keenly aware of what set her apart. “The jewellery world is full of legacy brands, and while they have their own appeal, what I wanted was something fresh, personal, and intimate,” she says. 

Gold rush:

• From unique engagement rings to custom-made necklaces, Rowa's Jewels offers pieces that reflect the individual’s style and personality as a counterculture to mass- market jewellery.
• Understanding her audience has been central to Jhaveri’s strategy. Rowa's Jewels targets high-net-worth individuals who values exclusivity, quality, and fine craftsmanship.
• She admits that it’s often difficult to break into a traditionally male-dominated space, but also notes that the jewellery industry has become increasingly inclusive, welcoming women into leadership roles.

News & updates

• AI copyrights: Artists can copyright works they made with the help of artificial intelligence, according to a new report by the U.S. Copyright Office that could further clear the way for the use of AI tools in Hollywood, the music industry and other creative fields.
• Flatlined: The eurozone economy did not grow in the final three months of 2024, adding weight to the argument that the European Central Bank will ease interest rates further this year. Eurozone GDP growth came in at 0% quarter-on-quarter for the fourth quarter of 2024, according to the European Commission. 
• Job cuts: Japan's Nissan Motor is offering buyouts to workers and cutting back shifts at three US factories, a company spokesperson said on Thursday, as the automaker pushes to slash $2.6 billion in costs globally.

What Lamborghini model does Bruce Wayne drive in the movie Batman Begins?

Answer: Murciélago

We would love to hear from you! To let us know what you liked and disliked about our newsletter, please mail [email protected]. 

If you don’t already get this newsletter in your inbox, sign up here. For past editions of the YourStory Buzz, you can check our Daily Capsule page here.