Practo’s Pre-IPO Raise
Practically is all set to go public next year. Buoyed by EBITDA profitability in FY25 and garnering healthy traction from its US pilot, the healthtech startup is now wrapping up an important item on its pre-IPO checklist – a fundraise north of $100 Mn. So, what is the inside scoop?
A Soonicorn? Practo is in advanced talks to raise between $100 Mn to $125 Mn, in a mix of debt and equity, in a round led by a global PE firm. Existing backers are also looking to top up their previous investments. While the discussions are still underway, the round could catapult the startup’s pre-money valuation to $700 Mn.
Practo’s IPO Thesis: The fundraise will be a precursor to Practo’s latest stab at an IPO. Last heard, the company was lining up bankers to helm its listing and mulling a reverse flip to India.
However, unlike previous attempts, Practo’s latest IPO push is anchored in its newfound fiscal discipline and focus on high-margin sustainability. For context, the startup turned EBITDA profitable in FY25 despite a slight YoY decline in top line to 234 Cr. At the heart of all this is global expansion.
The Global Bet: The startup is aggressively expanding its SaaS model overseas to expand its revenue streams. The US pilot has already scaled to over 2 Lakh doctors with a $75 Mn GMV run rate, proving that its practice management software is a viable global export. Back home, the company is diversifying into physical infrastructure through 40 cobranded dermatology clinics.
For now, the key question is: when will the healthtech startup take the D-Street plunge? While we ponder, Practo is getting its ducks in a row with a mega pre-IPO round.
From The Editor’s Desk
📞 WhatsApp Vs CCI
- Social media giant Meta has told the Supreme Court that it will comply with CCI’s directions to implement a consent-based data-sharing framework for WhatsApp by March 16.
- The legal dispute dates back to 2024, when CCI held that WhatsApp abused its dominance in India’s messaging market on account of a 2021 privacy policy update that forced users to share their data with Meta.
- In November 2025, the NCLAT, while upholding the ₹213 Cr penalty by the CCI on Meta, ruled that any data use beyond core service must be consent-driven, with clear opt-outs. SC was hearing Meta’s challenge to this NCLAT order.
🛠️ Fractal’s India Dilemma
- Most of Fractal Analytics’ innovation happens in India, yet North America drives nearly two-thirds of its revenue. For now, the domestic market just isn’t paying the bills as local enterprises do not prioritise capital-heavy tech.
- Despite the hindrance, the SaaS unicorn plans to grow locally in India by targeting GCCs. With over 1,800 such centres in the country, Fractal plans to use India’s deep talent pool to service deep-pocketed global clients right from its own backyard.
- Fractal is also trying to move beyond the “service provider” label. Currently working on an indigenous LLM, the company wants to shift from just consulting on AI to embedding its proprietary agentic AI products directly into critical workflows.
💸 Mojro Nets $3 Mn
- The B2B SaaS startup has raised $3 Mn in a round led by IAN Alpha Fund to fuel expansion in the US and Southeast Asian markets, improve its AI-driven tech stack and pad up its payroll.
- Founded in 2016, Mojro provides software solutions for supply chain optimisation. Its AI-powered platform considers a range of real-world constraints and parameters to optimise logistics networks.
- Growing at a CAGR of 11.5%, the global logistics planning and optimisation space is expected to cross the $15 Bn mark by 2032, helped by the ecommerce boom that has expanded supply chain operations and made their management just as imperative.
📈 India’s Startup IPO Spring
- Indian startup founders had a dream run on the bourses in 2025. Eighteen new-age tech ventures made their stock exchange debuts last year and collectively mopped up a record ₹41,248 Cr.
- Building on the momentum, four startups have already made their D-Street debuts in the first two months of 2026. However, unlike 2025, new-age tech listings so far this year have been flat.
- Nevertheless, the IPO pipeline remains strong. Nineteen startups have already filed their DRHPs with the SEBI, while another 25 are in various stages of finalising their IPO plans.
🚀 DATOMS Nets $2.8 Mn
- The enterprise IoT startup has raised ₹25 Cr in its Series A round led by Big Capital to strengthen its product and tech capabilities, expand into new markets, and bring in new hires across teams.
- Founded in 2021, DATOMS offers an integrated cloud platform that unifies processes and machine operations onto a single platform to monitor performance in real time and manage service operations. It claims to be tracking 25,000 machines.
- DATOMS is eyeing a piece of the global IoT solutions market, which is projected to become a $3 Bn+ opportunity by 2033.
Inc42 Markets
Inc42 Startup Spotlight
Can General Autonomy Make Robots Mainstream?
India’s robotics ecosystem continues to be hampered by costly imports, rigid industrial bots, and limited offerings for unstructured environments. General Autonomy wants to fix this with affordable, homegrown autonomous AI robots for broad commercial use.
Making Robots In India: Founded in 2023, General Autonomy leverages AI and machine learning to build humanoid and utility robots. These platforms handle inspection, safety operations, logistics, and human-robot collaboration in dynamic settings.
Affordability Edge: Unlike imported or bespoke systems, General Autonomy offers contextual adaptability for sectors like infrastructure, warehouses, and homes. Its focus on cost-effective, scalable production sets it apart, targeting everyday reliability over niche industrial applications.
Eye On Commercial Scale: Backed by Elevation Capital and India Quotient, the Bengaluru-based startup has built multiple prototypes, spanning humanoid and utility platforms. The startup is now gearing up to scale production and begin commercial sales.
So, can General Autonomy turn India’s robotics ambition into an affordable reality?
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From sovereign ambition to full-stack execution, Sarvam AI signals India’s bold arrival in the global foundational AI race. Here’s how…
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