Brands
Ashika’s Fund Run Gets SEBI’s Nod
MUMBAI: Money matters are rarely poetic, but this one comes with a decisive stamp of approval. Ashika Group has received in-principle clearance from Securities and Exchange Board of India (SEBI) to sponsor and set up Ashika Mutual Fund, marking a major strategic milestone in the group’s growth journey.
The approval allows Ashika to move ahead with establishing an Asset Management Company (AMC) and preparing for the launch of its mutual fund schemes, subject to meeting SEBI’s final registration conditions. It is a significant step towards the group’s ambition to build a future-ready asset management platform rooted in disciplined investing, robust governance and long-term wealth creation.
Ashika’s entry into the mutual fund space builds on its deep experience across capital markets and financial services, spanning retail and institutional broking, investment banking, research advisory, global family office services, alternative asset management and private equity. The proposed fund house plans to roll out a carefully curated suite of investment schemes designed to cater to varied investor profiles, supported by strong in-house research, structured risk management and a governance-first approach.
Commenting on the development, Ashika Group chairman and managing director Pawan Jain said the approval marks an important institutional moment for the organisation. He noted that the move reflects Ashika’s long-standing belief in building enduring, research-led financial platforms, adding that the group’s responsibility as a sponsor extends beyond performance to creating a culture anchored in accountability, prudence and sustainable long-term value for investors.
With SEBI’s in-principle nod now in place, Ashika Group joins a growing list of diversified financial services players eyeing India’s expanding asset management opportunity, as the mutual fund industry continues to attract new investors and fresh capital across market cycles.
Brands
Pre-seed funding fuels nailinit, India’s new-age nail care brand
Gruhas Collective Consumer Fund backs Gen Z-focused beauty startup
MUMBAI: nailinit, a community-first nail care startup targeting Gen Z and millennials, has raised Rs 2.5 to Rs 3 crore in a pre-seed round led by Gruhas Collective Consumer Fund and Marsshot VC, alongside a clutch of consumer, technology and operator angels.
Backed by entrepreneur and investor Nikhil Kamath, Gruhas Collective Consumer Fund is betting on nailinit’s attempt to give India’s nail care aisle a long overdue makeover. The fresh capital will be used to deepen distribution across quick commerce and D2C channels, build its community engine, and accelerate product innovation in a category that is high frequency but still light on strong brands.
Founded by Tanishq Ambegaokar and Shubham Singhal, nailinit is positioning itself at the crossroads of beauty, self-expression and culture. The brand wants nails to be more than a finishing touch. It sees them as a canvas for identity, content and commerce.
“At nailinit, we are building for a generation that sees beauty as self-expression, not just routine,” said Ambegaokar. “The nail category in India has largely been underserved by strong brands. This capital allows us to invest in product depth, community and distribution in a thoughtful and long-term way.”
Singhal added that while the brand’s tone may be playful, its operating focus is sharp. “This round strengthens our supply chain, expands our digital footprint and enables disciplined execution as we scale.”
The funding round drew notable angels including Shashank Kumar of Razorpay, Arjit Johri of Marsshot VC, Yash Jain, formerly of NimbusPost, Karan Jindal of Meta, Jivraj Singh Sachar of ISV Capital, Nishank Jain of Accel, Yashvardhan Kanoi, Ashwarya Garg of HYPD, Venus Dhuria of Phot.AI and Amishi Parasrampuria of The Whole Truth.
Gruhas Collective Consumer Fund fund manager Gauri Kuchhal, believes the opportunity lies in shifting habits. “Nail care remains underpenetrated in India, with consumers relying on time-intensive salon visits. As convenience and self-expression gain ground, press-on nails can unlock more frequent and experimental usage. Nailinit is well-placed to expand beyond press-ons into adjacent categories.”
The brand is currently the only nail care player in India blending product-led retail with a dedicated kiosk at Jio World Drive in Bandra, where customers can walk in for services while discovering the range. It has also built early traction across quick commerce platforms such as Zepto and Blinkit, with a launch on Instamart in the pipeline, and is available on Amazon, strengthening its omnichannel presence.
In a space long dominated by salon chairs and scattered labels, nailinit is attempting to file, shape and polish the category into something sharper. With fresh funding in hand, the startup is setting out to prove that in beauty, small details can make a bold statement.
