IAN Alpha Fund Leads ₹32.7 Crore Investment Round in a Sports-Tech Startup, SportVot

• Building the infrastructure layer for the long tail of global sports, bringing visibility, structure, and talent discovery to an ecosystem that has remained largely unseen

IAN Alpha Fund, IAN Group’s 2nd VC Fund, has led a ₹32.7 crore funding round in SportVot along with Anicut Capital, Lets Venture, Capital A, Sucseed Indovation, Garima Vohra, and Gaurav Chanana from Lucifer Circus & Lucifer Sports, and others. The investment will support SportVot in accelerating its international expansion, strengthening its AI-led production and analytics capabilities. It will also help the company scale its white-label OTT solutions for sports bodies and leagues both in India and globally.

As sports media continues to digitise, a large structural gap remains. While top-tier leagues benefit from high-quality broadcast infrastructure, nearly 99% of sporting events globally remain unrecorded, undistributed, and commercially untapped. This has limited visibility, monetisation, and talent discovery across the broader sports ecosystem.

SportVot is addressing this gap through a full-stack, AI-enabled sports tech solution that enables organisers, from grassroots tournaments to semi-professional leagues, to produce and stream matches at broadcast quality without requiring expensive infrastructure. Its hardware-agnostic approach allows seamless capture through smartphones as well as professional cameras, significantly reducing the cost and complexity of sports production while enabling scale across geographies.

The company has already captured over 500,000 matches across 30 + countries and reaches an audience of more than 100 million viewers. With growing traction across North America, Europe, the Middle East, and Australia, SportVot is building a relevant platform at the intersection of sports, media, and technology.

SportVot represents more than a sports production solution. As it scales across the long tail of global sports, the company is building a proprietary data and visibility layer over an ecosystem that has historically remained fragmented and under-discovered, presenting a significant opportunity that, according to IAN, is waiting to be unlocked. Over time, SportVot has the potential to emerge not only as an enabler of production and distribution but also as a meaningful infrastructure layer for talent discovery and scouting, enabled by analytics and unlocking monetisation through multiple channels.

Sarika Saxena, Managing Partner, IAN Alpha Fund, said, “At IAN Alpha Fund, we look for high-efficiency models that solve structural gaps. SportVot is doing exactly that by building for a segment of the sports world that has remained largely invisible despite its scale. What stood out to us was the company’s hardware-agnostic, AI-powered solution and its highly capital-efficient B2B model. Converting local matches into structured data, it creates a powerful infrastructure for talent scouting and commercial analytics. This blend of immediate business strength and long-term strategic value makes SportVot a compelling investment for IAN Alpha Fund.”

Founded by Sidhhant Agarwal (CEO), Yash Bhagwatkar (COO), and Shubhangi Gupta (CMO), the team has built a full-stack, integrated platform covering the full broadcast lifecycle, including live capture, streaming, graphics, scoring, and performance analytics within a single system.

Sidhhant Agarwal, Founder & CEO, SportVot, “We are proud to have the backing of IAN Alpha Fund along with our new and existing investors in what marks the largest investment raised by a sports technology company in India. We plan to use these funds to scale our offerings in international markets, with some initial success coming our way in Australia & Africa. The plan is to get into European, West Asian, and American markets. Our vision is to democratise access to technology and video creation for the 99% of sports tournaments & leagues that go unnoticed. This will help us increase our scale from 100k matches annually to half a million every year. The support from such marquee investors not only validates what SportVot is building but is also a massive indication that sports & sports tech in India is at an inflection point.”

Beyond production and distribution, SportVot is also building a proprietary data layer, with each match contributing to a growing repository of sports data. Over time, this is expected to unlock opportunities across performance analytics, talent discovery and scouting, and monetisation.

With this investment, IAN Alpha Fund continues to back companies building scalable, technology-led solutions for large, underserved markets. The Fund remains focused on supporting businesses that combine strong execution with global relevance, building solutions from India, for India, and the world.

India Bets Big on Manufacturing Hubs to Power $30 Trillion Economy Vision

India is positioning itself as a global manufacturing powerhouse by building integrated industrial hubs, backed by a record ₹12.2 lakh crore capital expenditure in FY2026‑27 and flagship schemes like PM MITRA, Biopharma SHAKTI, and corridor‑linked smart cities. This strategy aims to raise manufacturing’s GDP share to 25% by 2047, anchoring India’s $30‑35 trillion economy vision.

India’s Manufacturing Hub Strategy – Key Highlights

Union Budget 2026‑27:

• ₹12.2 lakh crore public capital expenditure (up from ₹2 lakh crore in FY2014‑15).
• 3 chemical parks, 7 PM MITRA textile parks, and ₹10,000 crore Biopharma SHAKTI initiative.
• Expanded MSME cluster support with 580 approved projects under MSE‑CDP.

Global Positioning:

• India ranked 3rd most sought‑after manufacturing destination globally.
• Medium‑ and high‑tech industries now contribute 46.3% of manufacturing value added.

MSME Role:

• 7.47 crore enterprises, contributing 35.4% of output and 48.58% of exports.
• Employs over 32.82 crore people, second only to agriculture.

Types of Manufacturing Hubs

Large Integrated Parks: 

Plug‑and‑play zones under NICDP; 20 smart cities approved, 4 completed (Dholera, Shendra‑Bidkin, Greater Noida, Vikram Udyogpuri).

 Sector‑Specific Ecosystems:

• Bulk Drug Parks (Gujarat, Himachal Pradesh, Andhra Pradesh).
• Semiconductor hubs under Semicon India Programme.
• Biopharma SHAKTI with new NIPERs and 1,000+ clinical trial sites.

MSME Clusters:

Infrastructure and Common Facility Centres to boost competitiveness in Tier‑2/3 cities.

Corridor‑Linked Nodes:

Delhi–Mumbai, Chennai–Bengaluru, Amritsar–Kolkata, Vizag–Chennai corridors enabling multimodal logistics.

State‑Level Momentum

• Uttar Pradesh: Defence Industrial Corridor across six nodes.
• Tamil Nadu: Expanded electronics and automobile clusters; “Detroit of Asia.”
• Gujarat: Port‑linked estates attracting large‑scale investment.

Policy Backbone

• PM Gati Shakti National Master Plan: Coordinated planning across 44 ministries and 36 states/UTs.
• National Manufacturing Mission: Mission‑oriented approach to scale and reliability.
• Digital Public Platforms (ULIP): Reducing logistics friction and financing delays.

Global Context

The Economic Survey 2025‑26 notes that competitiveness now depends on resilience and reliability, not just low costs. India’s integrated hubs align with this shift, enabling firms to scale, innovate, and embed into global value chains.

Outlook

By 2047, India aims to:

• Raise manufacturing’s GDP share to 25%.
• Build a $30‑35 trillion economy.
• Ensure broad‑based growth by anchoring hubs in Tier‑2 and Tier‑3 cities.

India Pioneers Underground Coal Gasification in Landmark Mine Agreements

Representative Image 

In a landmark milestone for India’s energy transition and self‑reliance, the Ministry of Coal has executed Coal Mine/Block Production and Development Agreements (CMDPAs) with successful bidders for four coal mines under the 14th round of commercial coal auctions. For the first time, these agreements carry embedded provisions for Underground Coal Gasification (UCG), signaling a transformative leap in how India envisions and unlocks the full value of its coal reserves.

Historic First in Commercial Coal Mining

• Reliance Industries Limited secured the Recherla and Chintalpudi Sector A1 mines in Andhra Pradesh.
• Axis Energy Ventures India Pvt. Ltd. won the Dip Extension of Belpahar and Tangardihi East mines in Odisha.
• Two mines are fully explored, while two remain partially explored, reflecting India’s push to diversify its coal resource base.

UCG – A Revolutionary Technology

Underground Coal Gasification (UCG) has been tested and deployed in several countries, with notable projects in Uzbekistan, South Africa, Australia, China, India, Russia, and Poland. These nations have either run pilot plants or integrated UCG into their energy strategies due to their large, deep coal reserves.  

• Underground Coal Gasification converts coal into synthetic gas directly within the seam, eliminating the need for conventional mining.
• Enables utilisation of deep, thin, or otherwise unworkable coal seams.
• Expands India’s exploitable energy resource base.
• Supports cleaner and more efficient energy production alongside traditional extraction.

Strategic Value Addition to Coal Economy

• Syngas from UCG can serve as domestic feedstock for fertiliser production, reducing dependence on imported urea and ammonia.
• Strengthens food security by supporting domestic agriculture inputs.
• In chemicals and petrochemicals, syngas can replace imported natural gas and naphtha.
• Enables domestic production of methanol, dimethyl ether (DME), and synthetic fuels.

Scale of India’s Commercial Coal Auctions

• With these four CMDPAs, India has now signed agreements for 138 mines.
• Collectively, they represent a peak rated capacity of 331.544 MTPA.
• Projected annual revenues: ₹42,980 crores.
• Expected capital investments: ₹48,231 crores.
• Employment generation: 4,34,175 direct and indirect jobs.

Energy Security and Global Positioning

India has future‑proofed its coal sector by embedding UCG provisions into CMDPAs, ensuring long‑term energy security while embracing frontier technologies. This positions India at the forefront of the global energy landscape, balancing domestic production with innovation in clean coal utilisation.

Underground Coal Gasification (UCG) Explained

Definition
Underground Coal Gasification (UCG) is an in‑situ process that converts coal directly into synthetic gas (syngas) within the seam itself, eliminating the need for conventional mining.

What is Underground Coal Gasification?

• Coal seams are accessed by drilling wells.
• Oxygen and steam are injected to ignite and gasify the coal underground.
• Syngas (carbon monoxide, hydrogen, methane, carbon dioxide, water vapor) is extracted through production wells.
• Syngas can be used for power generation, chemical feedstocks, fertiliser production, and synthetic fuels.

Advantages of UCG

• Accesses deep, thin, or unworkable coal seams.
• Reduces surface disturbance compared to open‑cast mining.
• Eliminates coal transport and surface gasification steps.
• Supports cleaner and more efficient energy production.

Applications of UCG

• Power generation – syngas fuels turbines or combined cycle plants.
• Fertiliser feedstock – hydrogen and ammonia precursors reduce import dependence.
• Chemical industry – enables domestic methanol, DME, and synthetic fuel production.
• Hydrogen production – alternative source for industrial hydrogen and fuel cells.

Historical Context

• Concept proposed in 1868 by Sir William Siemens.
• Developed further by Russian chemist Dmitri Mendeleyev.
• Early experiments conducted in the Soviet Union (1928–1939).
• Modern pilot projects tested in Uzbekistan, South Africa, and Australia.

Challenges & Risks

• Technical complexity – requires advanced drilling, ignition, and monitoring systems.
• Environmental risks – groundwater contamination, subsidence, uncontrolled gas migration.
• Regulatory hurdles – strict oversight needed for safety and environmental concerns.

Flipkart Introduces Fingerprint & Face ID Payments with Axis Bank, PayU

• Flipkart has become one of the leading Indian e-commerce platforms to offer biometric authentication for card payments, powered by PayU & Axis Bank
• Customers can now approve Axis Bank card payments using Face ID or fingerprint, eliminating OTP delays and failed attempts
• The biometric authentication feature brings faster approvals backed by device binding and next-gen fraud protection

Flipkart, India’s homegrown e-commerce marketplace, in collaboration with Axis Bank, one of the largest private sector banks in India and PayU, India's leading diversified fintech platform, announced the launch of biometric authentication for card payments. Three trusted organizations have joined forces for this initiative, building on their shared history of a consumer first approach, and reinstating their collective commitment to the consumers of India.

The initiative allows users to authenticate transactions using their fingerprint or Face ID on supporting Android and iOS devices, eliminating the need for a one-time password (OTP). The service is enabled first for Axis Bank cardholders through issuer‑level biometric verification. With this launch, Flipkart has become one of the leading major Indian e-commerce platforms to offer biometric authentication for card payments.

The feature offers customers a more secure method of authentication backed by device fingerprinting and enhanced checks, reducing the risk of SIM‑swap or OTP‑based fraud. It addresses significant friction points in digital payments replacing SMS-based OTPs, with a faster and more secured mechanism already familiar to smartphone users. Under this collaboration, PayU manages the merchant-side infrastructure, including device security and authentication flows while Axis Bank leverages Wibmo (a PayU company) to power biometric verification on the issuer side.

Biometric authentication addresses India's alarming digital payment fraud landscape, where fraud values surged more than fivefold to exceed ₹1,400 crore in FY 2024, according to RBI-linked data. In response, the Reserve Bank of India issued the 'Authentication Mechanisms for Digital Payment Transactions Directions, 2025' circular, explicitly encouraging adoption of biometric and risk-based authentication over SMS OTPs. Strategically aligned with this regulatory vision, the Flipkart-PayU-Axis Bank partnership enhances security, improves transaction success rates, and creates a more resilient payment ecosystem while fulfilling RBI's mandate for stronger digital authentication mechanisms.


Commenting on the collaboration, Hemang Dattani, Chief Business Officer, PayU Payments, said, “As digital commerce continues to scale in India, simplifying payments without compromising on security is critical. At PayU, we are proud to partner with Flipkart to enable a biometric authentication experience for card payments, helping customers move past long-standing friction associated with OTP-based verification. By combining biometric authentication with enhanced security controls, this partnership marks a meaningful step towards building a faster, more secure and frictionless digital payments experience for Indian consumers.”

Speaking on the launch, Gaurav Arora, Vice President, Payments and SuperCoins at Flipkart, said, “At Flipkart, our approach to innovation is anchored around robust compliance and consumer trust. The integration of the biometric authentication feature reflects our commitment to building safety into consumer payments at a time when digital fraud risks are becoming increasingly sophisticated. By leveraging secure biometric credentials, we are delivering a payment experience that is intuitive and seamless, while meeting the highest standards of consumer protection. As digital commerce continues to scale, our focus remains on enabling faster transactions while reinforcing the regulatory rigour and ecosystem-wide trust that secure payments demand.”

Arnika Dixit, President & Head – Cards, Payments and Wealth Management, Axis Bank, said, “At Axis Bank, we are constantly working to reinforce trust and security across every digital touchpoint. Customers today expect digital payments to be not only safe but effortless, and biometric authentication delivers exactly that by enabling a secure, onetouch approval experience. We are delighted to introduce this enhanced capability for our cardholders through our collaboration with Flipkart and PayU. This rollout reflects the strength of our long standing partnership and our shared commitment to elevating industry standards in both security and customer experience. As digital commerce continues to evolve, we remain focused on bringing innovations that make payments simpler, stronger and future ready for our customers.”

This rollout marks a step forward in India’s transition away from OTPs, offering users a smoother way to pay while maintaining high standards of compliance and control. Through this collaboration, Flipkart, Axis Bank and PayU are establishing a strong model for a device‑bound biometric card authentication that can support the next generation of secure digital transactions in India.

The Flipkart Group is one of India’s leading digital commerce entities with a strong technology-first foundation and includes group companies Flipkart, Myntra, Flipkart Wholesale, Cleartrip, and super.money. Established in 2007, Flipkart has enabled millions of sellers, merchants, and small businesses to participate in India's digital commerce revolution. With a registered user base of more than 500 million, Flipkart’s marketplace offers over 150 million products across 80+ categories. Today, there are over 1.4 million sellers on the platform, including Shopsy sellers. With a focus on empowering and delighting every Indian by delivering value through technology and innovation, Flipkart has pioneered services such as Cash on Delivery, No Cost EMI, Easy Returns, and UPI payments. Beyond shopping, Flipkart continues to create jobs, empower entrepreneurs, and strengthen India’s digital economy.

Axis Bank is one of the largest private sector banks in India. Axis Bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture, and Retail Businesses. It has 6,275 domestic branches (including extension counters) and 12,796 ATMs and cash recyclers spread across the country as on 31st March 2026. The Bank’s Axis Virtual Centre is present across eight centres with 1,591 Virtual Relationship Managers as on 31st March 2026. The Axis Group includes Axis Mutual Fund, Axis Securities Ltd., Axis Finance, Axis Trustee, Axis Capital, A.TReDS Ltd., Freecharge, Axis Pension Fund and Axis Bank Foundation.

ideaForge inks MoU with Japan's DMP to Expand Global Footprint in Next-Gen AI Drones

ideaForge Technology Limited, India’s leading drone technology player, has signed a strategic Memorandum of Understanding (MOU) with Digital Media Professionals Inc. (DMP), a leading AI technology provider in Japan. Under this partnership, ideaForge will develop next-generation Di1-powered AI drones and enter the Japanese market with DMP's support, marking a major step forward for India's deep-tech global expansion.

As the global drone market surges from USD 54.9 billion in 2024 to USD 117.6 billion by 2030, Japan’s market is slated to grow from USD 2.0 billion in 2025 to USD 5.1 billion by 2034. To enable this growth, Edge AI is critical for drone-based autonomous solutions in defense, security, & industrial applications. The Di1 edge AI SoC from DMP has FP4-based NPU for high-performance, low-power, 4-channel camera for 360-degree vision, and strong imagery, which works in tandem with ideaForge’s rugged, secure, autonomous, and resilient field-proven VTOL drones to perform robust autonomous flight in severe environments and complex terrains. Together, ideaForge’s UAS end-to-end expertise and DMP’s Physical AI arm bring smarter and safer autonomous systems for accelerated adoption.

The partnership is focused on two key areas where ideaForge will provide the Di1 integration in its UAV platforms to enable new features, and DMP will be the Go To Market (GTM) partner for ideaForge’s drone solutions portfolio in Japan, enabling demonstrations, customer outreach, distribution, training, and after sales support.

On this occasion, Mr. Ankit Mehta, CEO and Co-founder, ideaForge Technology Ltd said, “Our vision at ideaForge is to build next-generation intelligent unmanned aircraft systems by seamlessly integrating advanced design, engineering, manufacturing capabilities, and cutting-edge AI technologies. This collaboration with DMP aligns perfectly with our broader strategy to develop high-performance, customizable AI for defense autonomy drones that efficiently address diverse global market needs from defense surveillance and border security to industrial infrastructure inspection and precision agriculture. Through this collaboration, we would be able to leverage DMP’s strong presence and understanding of the Japanese market to accelerate our global expansion initiatives and will provide smarter, more efficient, and sustainable autonomous drone systems that deliver real-time decision-making, extended endurance, and unmatched reliability in the most demanding environments.”

Tatsuo Yamamoto, Chairman, President & CEO, Digital Media Professionals Inc., added: “We are thrilled to partner with ideaForge, a global leader in mission-critical drones, to integrate our Di1 edge AI SoC into their next-generation UAV platforms. This MOU accelerates Di1’s accelerated deployment while enabling DMP to bring ideaForge’s rugged, high-endurance, and resilient drones to Japan’s defence, security, and industrial markets. We will work together to create Physical AI-powered solutions that change the way drones operate in terms of safety, accuracy, and independence.”

This collaboration is a critical milestone in the global expansion of ideaForge, leveraging Indian deep-tech innovation and Japanese AI expertise to create mission-critical defense, security, and industrial drones for the Japanese market. ideaForge already has an established presence in the United States through its joint venture, First Forge Technology, focused on manufacturing and distribution in the region. By creating a flexible framework for joint development and market entry, the two companies are poised to capitalize on high-growth opportunities while pioneering sustainable, autonomous aviation technologies that transform resilience and efficiency in operations.