Unlocking consent-based data sharing; Backing AI startups with India connect

Hello,

Knock knock! Your groceries are here.

If you can’t recall the last time you stepped out for a grocery run, you’re not alone. India’s quick commerce sector accounted for over two-thirds of all online grocery orders last year, according to a report by consultancy firm Bain & Co and ecommerce giant Flipkart.

Further, the Indian e-retail market as a whole is set for a massive boost, with quick commerce, hyper-value commerce, and trend-first approaches expected to contribute to a $60 billion surge in gross merchandise value. 

Of course, for a country which collectively spent 1.1 trillion hours on their smartphones in 2024, the numbers align perfectly. In fact, this growth in usage has also helped digital channels like Instagram, YouTube, and Netflix overtake television for the first time as the largest segment in India’s lucrative media and entertainment sector. 

Speaking of groceries, if you’ve been unable to get your hands on your favourite arabica blend these days, don’t be too surprised if it comes back with a significant markup. 

Roasters, including Lavazza, Illy, Nestle, and JDE Peet’s, are currently in talks with retailers about passing on costs from a near doubling of arabica coffee prices over the past year, which could see retail prices hike up anywhere between 15-25%. 

The humble morning cuppa may now be harder to get.  

In today’s newsletter, we will talk about 

• Simplifying financial data sharing
• Backing AI startups with India connect
• Digital creators spill the tea

Here’s your trivia for today: What was the original intended purpose of cellophane?

Startup

Simplifying financial data sharing

The financial services sector has struggled with fragmented, inefficient, and cumbersome data-sharing processes, limiting individuals, SMEs, and even large financial institutions from accessing the services they needed. 

Enter Equal, an identity verification aggregator that helps businesses address critical pain points such as KYC, fraud prevention, onboarding, income validation, and regulatory compliance.

Unlocking data:

• Equal provides an integrated solution that combines identity verification with consent-driven financial data sharing. The company offers two key products—the KYC Aggregator and the Account Aggregator.
• The startup also recently acquired a stake in OneMoney to enhance consent-driven financial data sharing, with an aim to give users greater control over their personal data while enabling institutions to make informed decisions.
• Equal follows a per-transaction pricing model, working with financial institutions, fintechs, insurers, and large enterprises that depend on verified data for their operations. Pricing varies across industries, ranging from Rs 2 to Rs 200 per data type.

Funding Alert

Startup: Country Delight

Amount: $25M

Round: Series E

Startup: Abound

Amount: $14M

Round: Seed

Startup: Mila Beaute

Amount: $2.16M

Round: Pre-Series A

Investment

Backing AI startups with India connect

NuVentures, an early-stage venture capital firm founded by seasoned startup investor Venk Krishnan in 2015, has unveiled a new $75 million fund. Based in the US, the fund is focused on supporting founders with a strong India connection.

“We will take our startups directly to our customers to get the market feedback on their products, including a POC,” Krishnan said.

Key takeaways:

• The fund plans to invest in around four to five startups annually, with investments ranging from $250,000 to $750,000. NuVentures has already secured commitments from the fund of funds and high-net-worth individuals in the US.
• A majority of NuVentures’ investments will be focused on US-based startups, with some contributions from India. The segment’s primary area of focus will be AI, SaaS, and consumer tech.
• Krishnan believes the Indian startup ecosystem is on the cusp of a big change where investor money is no longer easily available. “Investors now want to see a clear path towards revenues or profitability from the startups,” he remarked.

SheSparks

Digital creators spill the tea

Be your authentic self online, and add a personal story to connect with people. Reach out to brands, but know where to draw the line. 

These are some of the key insights that digital creators Simran Balar Jain and Sonika Sethi shared at SheSparks 2025.

Influencer marketing:

• On what people connect with, Jain said, “Add a personal story and emotional touch when storytelling. You never know what’s going to work out and go viral!”
• Sethi advises budding influencers and entrepreneurs not to make content their whole world, but to make it a by-product of their niche. The designer and influencer screens brands and partners with only those whose products she has personally tried.
• Jain says she recently discovered other income streams, such as affiliate marketing. “Apart from partnering with brands, you can also reach out to brands, pitch to them, instead of them reaching out to you. Most of my collaborations happen when I reach out to brands,” Jain revealed.

News & updates

• Shake up: Three Intel board members will not stand for re-election at its 2025 annual meeting, the chipmaker said in a regulatory filing, amid a historic transition under newly appointed CEO Lip-Bu Tan.
• Levies: The US will impose 25% tariffs on imports of foreign-made cars, which will go into effect on April 2, US President Donald Trump said. The tariffs would apply to car parts as well as completed vehicles, and would apply in addition to any other tariffs.
• Slashed: NVIDIA-backed cloud-computing provider CoreWeave Inc intends to cut the size of its initial public offering to around $1.5 billion, and now plans to offer investors about 37.5 million shares at $40 apiece.

What was the original intended purpose of cellophane?

Answer: When cellophane was invented in 1908, it was originally intended to be used to protect tablecloths from wine spills.

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