October 10, 2025

Happy Thursday! Let’s dive into some exciting and spicy updates from India’s buzzing tech and business world. Capillary Technologies, the SaaS star, is gearing up for a big league — the stock market! Their CEO Aneesh Reddy spilled the beans on three powerful growth engines driving this journey. Over the last three years, Capillary grew 70%. How? One-third came from loyal existing customers growing even more, one-third from buying other companies, and the last chunk from snagging new big clients. Reddy said, “These will remain our three growth levers going forward as well.” From a scary 60% loss in 2019, they climbed to a sweet 12.5% EBITDA profit by 2025. Their revenue tripled and the team got smarter and leaner, shrinking from 1,000 to 650 stars. The secret? A sharp pivot after Covid hit — moving from a small Asia retail market to a huge $17 billion global loyalty market. Reddy proudly shared, “In FY25, we did $70 million in revenue, which is less than 1% of the market, so there’s still a long way to go.” Capillary got SEBI’s nod in September, joining other cool Indian SaaS firms like Amagi Labs, Fractal, and Shiprocket queuing up for the bourses. Switching gears to India-China business news: India’s electronic component scheme (ECMS) might open doors to Chinese investments, but only if serious tech transfer and skill-building happen locally. An official said the scheme aims for a solid manufacturing base, not just assembly lines. Chinese firms can own up to 49% in joint ventures but also face security checks by India’s home ministry. Given China’s domination in electronics, India wants to catch up fast. On the home front, IT Secretary S Krishnan gave a stern but wise tip to government departments: be careful and clear when asking platforms to remove online content. He said these notices must be legal, well-worded, and balanced to protect freedom of speech. This comes amid ongoing court battles with social platforms like X (formerly Twitter), which recently lost a case at Karnataka High Court over takedown notices. In other sizzling updates, Dan Bennett from S&P Global revealed AI will soon be the main consumer of their huge data stores, not humans—a huge tech turning point! Also, Le Travenues Technology, Ixigo’s parent, may welcome a new investor to snap up to 16% stake—watch this space. And a tech endorsement shout-out: Union Home Minister Amit Shah switched government mails to Chennai’s Zoho Mail, praising its privacy and encryption. That’s your ETtech Morning Dispatch scoop — full of sharp moves, smart tech, and India stepping up big in global business and innovation!

Read More at Economictimes →

Tags: Capillary technologies, Saas ipo, Chinese investment, Content removal, Ai data use, Indian tech,