Why Hike Failed Despite 100 Million Users? – Indian Startups News 279

00:00 Hike Shuts Down After 13 Years
4:53 Message from Co-founder
06:29 Simple Energy’s Rare Earth-Free EV Motor
8:22 Quick Updates
9:27 Funding News

Hike Shuts Down After 13 Years
Once India’s #2 messenger after WhatsApp, Hike hit 100M sign-ups and a $1.4B valuation. But cheap data, WhatsApp’s dominance, and finally India’s gaming ban ended its 13-year journey.

Simple Energy’s Rare Earth-Free EV Motor
Simple Energy has built India’s first EV motor without heavy rare earths, reducing dependence on China and reshaping India’s EV supply chain.

Quick Updates

BlackBuck leaves Bengaluru over bad roads

CRED launches gold credit card + IndusInd RuPay card

Urban Company IPO soars 64% on debut

Startup Funding Highlights
Indian startups raised $152 million this week, lower than last week’s $210M. Notable rounds include:

FinBox (Bengaluru): Raised $40M in Series B for its fintech infra toolkit helping banks/fintechs verify identity, assess risk, and fight fraud.

Indkal Technologies (Bengaluru): Raised $20M to design consumer electronics like TVs, fridges, and ACs for brands including Acer and Black+Decker.

Lucira (Mumbai): Secured $5.5M in seed funding for lab-grown diamond jewellery.

iDO Devices (Noida): Raised $4M to build electronics end-to-end — from design to prototyping to final product.

MyNaksh (Bengaluru): Raised ₹7.5 Cr ($850K) in pre-seed for its AI + astrologer-powered Vedic guidance platform.

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