The Return Of Smart Glasses, Hike Shuts Shop & More

India’s Mixed Reality Experience 

Smart glasses are making a comeback of sorts in India. What was once written off as a novelty, following Google Glass’s infamous crash, is now attracting major players. While Reliance is set to launch Jio Frames, Lenskart, too, has also entered the arena. So, what’s breathing new life into this category?

The Eyewear Revolution: Today’s smart glasses bear little resemblance to their clunky predecessors. While earlier versions collapsed under excessive weight, current models are remarkably lighter and more compact. The underlying technology has also evolved dramatically – processors have shrunk while simultaneously delivering enhanced image quality, improved power efficiency, and the capability to run sophisticated small language models directly on the device.

The AI Upgrade: Generative AI has further transformed smart glasses from expensive novelties into practical assistants. This tech leap has enabled users to handle roughly 35% of typical smartphone functions – making calls, taking photos, accessing real-time translations – through simple voice commands. 

On The Home Front: While global giants like Meta, through Ray-Ban smart glasses, and Xiaomi have substantial resources at their disposal, homegrown players are differentiating through vernacular capabilities and affordability. QWR’s Humbl glasses support Indic languages and offer compatibility with multiple AI assistants, while Jio Frames could come with multi-language support and cloud storage integration. 

The ‘Mixed’ Reality: Premium pricing remains a significant barrier, positioning these devices as luxury items rather than mass-market products. Privacy concerns create additional friction, as smart glasses operate in an ambiguous zone — between everyday eyewear and potential surveillance tools. The absence of robust AI regulations under India’s DPDP Act also creates uncertainty around data protection and consent.

So, can the mixed reality and smart glasses brigade overcome privacy concerns, prove their AI proposition, deliver on value for the premium pricing, and circumvent regulatory ambiguity — phew — to become the next billion-dollar wearable category? Let’s find out… 

From The Editor’s Desk

Hike Shuts Shop: Weeks after wrapping up its India operations, the RMG startup has decided to shut its global operations. Founder and CEO Kavin Mittal said that overseas ambitions would have required a complete reset – one that didn’t justify the capital, time and investment.

Mixed Week For Startup Stocks: Seventeen new-age tech stocks under Inc42’s coverage ended last week in the black, while shares of twenty startups slipped to the red. ArisInfra and Ather were the biggest gainers, while CarTrade and Veefin were the biggest losers.

Ripplr Nets INR 200 Cr: The logistics startup raised the capital in a round led by Sojitz Corporation, with participation from 3one4 Capital and Trifecta Capital. The startup helps brands manage last-mile delivery fleets, provides cold chain solutions and vehicle tracking. 

Funding Takes A Hit: Indian startups cumulatively raised a mere $47.8 Mn across 18 deals last week, down 74% from the $186.1 Mn in the preceding week. Flipspaces and Indrajaal topped the charts by raising $9 Mn and $5.5 Mn, respectively. 

Marico To Buyout True Elements: The FMCG major is acquiring an additional 46.02% stake in the D2C snacking startup for INR 138 Cr. With this, Marico’s shareholding in the company will increase to 100%. It will acquire the stakes from founders and other backers.

Myntra’s FY25 Profit Zooms: The fashion ecommerce major’s profit soared 18X to INR 548 Cr in FY25 from INR 31 Cr in the previous fiscal year. The company’s revenue from operations also rose 18% YoY to INR 6,043 Cr in the fiscal year under review. 

IFC To Infuse $37 Mn In GreenCell: The investment arm of the World Bank will infuse the capital in the electric shared mobility startup via a mix of debt and equity. The startup focuses on deploying and operating electric buses for public transportation. 

SEBI Eases IPO Norms: The market regulator has revised minimum public shareholding norms for companies with a market cap of over INR 50,000 Cr. SEBI also allowed insurance companies and pension funds to be included in the reserved anchor investor category.

Inc42 Startup Spotlight

How Wastelink Is Solving India’s Food Wastage Crisis

India throws away nearly a third of its total food production despite millions in the country grappling with food security. Enter Wastelink, a startup built on a simple yet powerful idea – what if our waste could create value?

Wastelink’s Recipe: Founded in 2018, the startup sources surplus food and farm produce that would otherwise end up in landfills. At its processing facilities, this waste is turned into an animal feed ingredient called ECOMIX. 

Carving Out A Niche: The Wastelink has positioned itself differently in the $30 Bn Indian animal feed industry – offering pan-India coverage across cattle and poultry segments while maintaining competitive pricing that undercuts rivals by 2-5%. 

A Growing Venture: Addressing multiple pain points such as reducing environmental impact and lowering feed costs, Wastelink claims to have clocked a revenue of INR 26.5 Cr in FY25, with an eye on INR 60 Cr this fiscal. Going forward, the startup plans to broaden its offerings, expand its presence, and place greater focus on boosting exports. 

But, with no dearth of issues related to supply chain, quality control and regulatory compliances, can Wastelink solve India’s food waste problem?