Posts that explain reports that we release periodically around unlisted markets. All reports are downloadable freely from privatecircle.co.
Agritech is quietly changing the way farming works in India. Earlier, traditional methods ruled the fields. Today, technology is helping farmers make better decisions, get improved tools, and connect more easily with markets. This change is not just about going digital, it’s about putting farmers and their real needs at the center of progress. From…
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A fresh wave of Indian startups is lining up to hit the public markets. As you compile your IPO Watchlist, here’s what investors need to know from who’s next to who’s winning. The startup party is changing venues from private rounds to public markets. After years of VC funding and growth at all costs, many…
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⚡ EV Growth vs. Battery Waste India’s electric vehicle (EV) ecosystem is scaling at a record pace. From budget-friendly e-rickshaws to high-end electric SUVs and intercity buses, the electric shift is visible across segments. Fueled by policy support such as the FAME-II subsidy, state-level EV mandates, and consumer awareness, India is projected to become the…
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In 2008, when most Indian fintechs were still a distant dream, Perfios was quietly laying the foundation for what would become the core digital plumbing of the financial sector. Founded by Debasish Chakraborty and V. R. Govindarajan, Perfios began with a bold but unglamorous vision: to clean, structure, and analyze messy financial data at scale….
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In India’s startup ecosystem, 2024–25 was a year of financial recalibration. With venture capital flows slowing and equity valuations facing a reset, many founders found themselves at a crossroads: scale back, raise equity at lower valuations, or find a smarter alternative. A growing number chose the third path. Instead of tapping VCs, these startups turned…
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India’s fintech ecosystem has undergone a radical transformation in the past decade. As traditional banks grapple with legacy systems, high documentation requirements, and a preference for prime customers, millions of underserved and new-to-credit users have been left behind. This vacuum has been quickly filled by nimble digital lending startups that use technology to assess, approve,…
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Two fintech giants. Two growth playbooks. One digital economy. In the heart of India’s $1Tn+ digital commerce revolution, two companies are redefining how businesses transact, bank, and grow: Pine Labs and Razorpay. While one built its empire through POS terminals across retail counters, the other scaled through APIs powering the internet economy. As India moves…
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India is undergoing a quiet but powerful shift in defense and aerospace. Leading this transformation is a homegrown deep-tech player; Raphe Mphibr, a Noida-based startup redefining what it means to build drones for both combat and humanitarian use. Raphe is doing more than just manufacturing drones. It is creating the critical systems that will define…
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Over the past decade, India has witnessed a dramatic transformation in its entrepreneurial landscape. Driven by digitization, policy reforms, and a surge in startup culture, new company incorporations have become a critical indicator of regional economic momentum. This report analyzes incorporation trends across India’s top Tier 1 and Tier 2 cities, based exclusively on Ministry…
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India is fast emerging as a global hub for artificial intelligence and deep tech innovation. Gone are the days when Indian startups merely built consumer apps or outsourced tech services. Today, a new generation of R&D-heavy companies is laying the groundwork for AI infrastructure, foundational models, and indigenous IP that can compete globally. This shift…
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