India’s startup scene has been full of activity lately, not just with new ventures launching, but with smart acquisitions that have quietly changed the game. While some big-name deals grab all the spotlight, several equally important ones often slip under the radar.
These acquisitions reflect how companies are collaborating, and investing in fresh ideas to grow stronger and stay ahead.
In this blog, we’ll delve into a few startup acquisitions in India that you might’ve missed; but definitely shouldn’t have!
What is a Startup Acquisition?
A startup acquisition occurs when a larger company, or sometimes another startup, buys out a startup, either fully or partially. This acquisition could be for various strategic reasons, including-
- Gaining access to new technology.
- Expanding into a new market.
- Acquiring talent (a practice known as “acqui-hiring”).
- Eliminating competition.
For startups, acquisitions often provide an opportunity for a successful exit, giving founders and investors a financial return while allowing the company’s innovation to scale under a larger umbrella.
List of Recent Startup Acquisitions in India
- Razorpay’s Majority Stake Acquisition in POP
About Razorpay:
Founded in 2014 by Harshil Mathur and Shashank Kumar, Razorpay is a Bengaluru-based fintech giant offering end-to-end payment and banking solutions for businesses. Known for simplifying digital transactions, Razorpay provides a seamless platform for accepting, processing, and disbursing online payments. It serves a wide spectrum of clients, including startups, SMEs, and large enterprises.
About POP:
POP is a relatively new entrant, launched in 2023 and quickly gaining attention for its UPI payment solutions and unique multi-brand rewards system; POPcoins. Backed by investors like India Quotient and Unilever Ventures, POP managed to scale rapidly, processing over 6 lakh UPI transactions daily and attracting 1 million unique monthly users within its first year.
The Acquisition:
Razorpay acquired a majority stake in POP by investing USD 30 million in the company.
This acquisition is a significant step for Razorpay as it looks to strengthen areas like loyalty programs and merchant partnerships.
Despite the acquisition, POP will continue to operate as an independent brand, with Razorpay’s support helping it scale its product offerings and merchant network.
- InCred Money’s Acquisition of Stocko
About InCred Money:
InCred Money, the retail wealth-tech division of the InCred Group, was founded in 2015 by Bhupinder Singh. The platform focuses on democratizing access to a range of investment opportunities such as Pre-IPO/Unlisted Shares, Market Linked Debentures, Bonds, and Fixed Deposits. It aims to serve everyday retail investors alongside high net worth individuals.
About Stocko (formerly SAS Online):
Stocko, originally launched as SAS Online in 2013, is a New Delhi-based discount brokerage firm known for its affordable trading solutions. It provides trading services across equities, derivatives, commodities, and currencies, and has gained popularity for its budget-friendly platform.
The Acquisition:
InCred Money is acquiring Stocko for approximately INR 300 crore (Approx. USD 35 million). Pending regulatory approvals, the platform will be rebranded as InCred Stocko and integrated into InCred Money’s broader digital wealth ecosystem.
This acquisition marks InCred’s formal entry into the equities and derivatives trading segment.
The acquisition will strengthen its retail presence and expand its product suite to include active trading alongside passive investment options.
- Krutrim’s Acquisition of BharatSahAIyak
About Krutrim:
Founded by Bhavish Aggarwal in December 2023, Krutrim is part of the Ola Group and is building a comprehensive AI computing stack for India, including AI infrastructure, cloud services, foundational models, and AI-powered applications.
It focuses on developing indigenous AI solutions tailored for India’s linguistic and cultural diversity.
The company quickly achieved the status of a unicorn by January 2024 after raising USD 50 million at a USD 1 billion valuation.
About BharatSahAIyak:
Developed by Samagra, a technology consultancy firm specializing in governance-focused solutions, BharatSahAIyak is an AI-driven platform aimed at transforming public sector operations. It has been actively deployed in sectors like education, agriculture, and citizen services, delivering tailored solutions in collaboration with various government agencies. One of its key strengths lies in vernacular AI, enabling localized, accessible technology for Indian users.
The Acquisition:
Krutrim acquired BharatSahAIyak from Samagra for an undisclosed sum. This move was made to scale its public sector AI capabilities. Other than technology, the acquisition was also about absorbing BharatSahAIyak’s experienced team and deep domain expertise in governance related AI.
With this integration, Krutrim aims to strengthen its footprint in government partnerships, deliver AI solutions across public services, and push forward its mission of vernacular AI for the Indian population.
- DeHaat’s Acquisition of NEERX
About DeHaat:
Founded in 2012 by Amrendra Singh, Shyam Sundar Singh, Abhishek Dokania, Shashank Kumar, and Adarsh Srivastava, DeHaat is a prominent agritech platform headquartered in Patna, Bihar. The company provides end-to-end agricultural services to farmers, including input delivery, crop advisory, financial services, and market access.
DeHaat has built a strong network of over 18,000 centers across the country, offering farmers the tools and knowledge needed to boost productivity and profitability.
About NEERX:
Founded in 2019 by Harsh Agrawal and Nikita Tiwari, NEERX is an agritech startup that focuses on smart agriculture solutions through sensor-based technology.
Their flagship innovation, the SHOOL soil sensor, is validated by ISRO and delivers real-time insights into soil moisture, temperature, and other key parameters. By offering data-driven tools, NEERX enables farmers to make informed decisions on irrigation, nutrient application, and crop management.
The Acquisition:
With the integration of NEERX’s technology, including the ISRO-approved SHOOL sensor and cloud-based analytics, DeHaat aims to provide its vast farmer base with real-time insights.
This acquisition will empower farmers to optimize resource use, indulge in better agricultural practices, improve crop health, and ultimately increase productivity.
- Nazara Technologies’ Acquisition of Bankrupt Smaaash Entertainment
About Nazara Technologies:
Founded in 1999 by Nitish Mittersain, Nazara Technologies is a Mumbai-based gaming and sports media platform. The company has established a niche in mobile gaming, esports, and gamified early learning, with a diversified portfolio that includes popular titles like Kiddopia and World Cricket Championship, along with esports platforms including Sportskeeda and Nodwin Gaming.
About Smaaash Entertainment:
Backed by Sachin Tendulkar and founded in 2009 by Shripal Morakhia, Smaaash Entertainment is known for its immersive and interactive gaming experiences. The company specializes in sports simulation and location-based entertainment, offering attractions like twilight bowling zones, go-karting, virtual reality games, and more. Smaaash created a unique recreational environment appealing to people of all age groups, but faced financial setbacks leading to insolvency proceedings.
The Acquisition:
Nazara Technologies acquired Smaaash Entertainment for INR 126 crore, turning it into a wholly owned subsidiary. The acquisition was completed as part of a resolution plan approved by the National Company Law Tribunal (NCLT) under the Insolvency and Bankruptcy Code.
Nazara subscribed to 1 crore equity shares valued at INR 10 crore and provided an unsecured inter-corporate loan of INR 116 crore, enabling Smaaash to clear its outstanding dues to creditors. This acquisition marks Nazara’s entry into the location based entertainment (LBE) market.
Following the acquisition, Nazara aims to transform the Smaaash experience by integrating its existing digital IPs and pursuing collaborations across retail, content, gaming, and live entertainment.
Afterword
These lesser known acquisitions may not always make headlines, but they indeed reveal how India’s startup ecosystem is maturing through smart collaborations and strategic growth. As the landscape continues to evolve, keeping an eye on these moves can offer valuable insight into where innovation is heading next!