BigBasket Merges Apps, Arthmate Faces Turmoil, Zerodha’s Nikhil Kamath Introduces Inaugural WTFund Cohort and more

BigBasket is streamlining its services by merging BBdaily into its main app, riding the quick commerce wave. EaseMyTrip is venturing into ebus manufacturing with a new subsidiary, while Fino Payments Bank’s shares soar to a fresh 52-week high, reflecting strong confidence in its FY25 prospects.

Arthmate faces turmoil with its CEO's arrest triggering a mass exit, and COO Renu Satti stepping down. Meanwhile, Nazara and the Telangana government are teaming up to boost AI in gaming, PB Fintech rewards its team with equity shares, and Zaggle's stock jumps after a deal with Blue Star. Finally, Zerodha’s Nikhil Kamath introduces the inaugural WTFund cohort, spotlighting young innovators ready to make waves.

Grab your simmering cup of StartupChai and unwind with our hand-brewed memes.

What Matters

“Zamane Ke Saath Badalna”: BigBasket To Merge BBdaily Into Main App Amid Quick Commerce Boom

BigBasket is stepping up its game by merging BBdaily into its main app, bringing everything from groceries to daily subscriptions under one roof. With quick commerce booming, this move simplifies the user experience while keeping pace with growing competition.

And with industry forecasts predicting a $10 billion quick commerce market by FY26, BigBasket is making sure it stays ahead of the curve.

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“If A Double Decker Bus Crashes Into Us”: EaseMyTrip Forays Into Ebus Manufacturing, Sets Up New Subsidiary Easy Green Mobility

EaseMyTrip is hitting the road—this time with electric buses. Through its new subsidiary Easy Green Mobility, the traveltech giant plans to invest INR 200 Cr in R&D and a manufacturing plant for ebuses.

By 2027-28, they aim to have over 2,000 eco-friendly buses running nationwide, pushing sustainability into top gear.

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“Style Mein Rehne Ka”: Fino Payments Bank Touches Fresh 52 Week High On Bullish Outlook For FY25

Fino Payments Bank hit a new 52-week high at INR 448, with its market cap soaring to $442.4 Mn on September 5.

Investors are buzzing as the bank gears up for a strong FY25 outlook, with CEO Rishi Gupta outlining plans to sharpen its edge in the Indian payments space. Looks like Fino is cashing in on its growing momentum.

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“Tujhe Yaad Na Meri Aayi”: Arthmate CEO’s Arrest Triggers Mass Employee Exodus, COO Renu Satti Quits

Arthmate is in chaos following the arrest of its cofounder and ex-CEO, Vihaan Kumar, on fraud charges.

Since then, COO Renu Satti and several other key employees have quit, signaling a mass exodus at the company. The fallout from this scandal has left the fintech startup scrambling to pick up the pieces.

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“Hum Saath Saath Hai”: Nazara Partners Telangana Govt To Drive AI Innovation In Gaming & Digital Entertainment

Nazara Technologies is teaming up with the Telangana government to supercharge AI innovation in gaming and digital entertainment. Together, they’re launching an AI Centre of Excellence to drive R&D in gaming, VR/AR, blockchain, and more.

This hub aims to support startups, develop skills, and create a global platform for the next wave of interactive entertainment.

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“Sabko Inaam Milega”: PB Fintech Allots 75,760 Equity Shares Under ESOP Plan

PB Fintech just rewarded its team by allotting 75,760 equity shares under its employee stock option plan (ESOP). This latest move bumps the company’s paid-up equity share capital to INR 91.22 Cr, showing its commitment to employee growth.

Back in June, PB Fintech also issued 48.3 lakh shares under the same plan, keeping the ESOP benefits rolling.

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“Sab Kushal Mangal”: Zaggle Shares Jump Over 4% After It Inks Deal With Blue Star

Zaggle's shares saw a modest jump of over 4% before settling at INR 355.15, marking a 2.2% gain by midday. Despite cooling off, the stock has shown impressive growth, rising over 59% year-to-date.

With its tax-saving prepaid card, Zaggle Save, the company continues to make strides in the employee benefits space, solidifying its position in the market.

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“Janhit Mein Jaari”: Zerodha's Nikhil Kamath unveils inaugural WTFund cohort of innovators under 25

Zerodha's Nikhil Kamath just unveiled the first cohort of the WTFund, spotlighting 15 innovators under 25 with bold ideas across sectors like healthcare, AI, and sustainable consumer goods.

These young trailblazers are set to disrupt industries with the backing of Kamath's fund, which aims to empower the next generation of entrepreneurs. It's a promising start for these future game-changers.

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1. Arbour Investments has pumped $7 million into Justo Realfintech, split between $5 million in equity and $2 million in debt. This funding will enable Justo Realfintech to enhance its services and strengthen its foothold in the mid-market developer segment.

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2. Sports-tech startup Spolto has secured $1 million in seed funding led by Andrew Johnston, aiming to scale its services and expand into more urban communities. The investment will support its growth and enhance its reach in the sports technology sector.

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3. B2B financial management platform Valyx has raised $800K in a pre-seed round led by Huddle Ventures and Waveform Ventures, with participation from Bharat Founders Fund and Propell Fund. The funding will be used to bolster its sales and engineering teams.

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4. Slikk, the 60-minute clothes delivery app targeting Gen Z, has secured $300K in its pre-seed round led by Better Capital, with support from Untitledxyz Ventures. The funds will help expand its brand portfolio, set up a dark store, and extend delivery coverage to 70% of Bangalore.

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5. Rapido has achieved unicorn status, securing $200 Mn in funding from WestBridge Capital and Nexus Venture Partners. The fresh capital will fuel expansion of its new four-wheeler taxi service, positioning Rapido to compete head-to-head with Ola and Uber.

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6. RecommerceX has raised $3.6 Mn in seed funding to advance its industrial waste recycling solutions. The startup is set to redefine the recycling landscape with traceable, tax-compliant materials and cutting-edge technology.

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7. LiaPlus AI has secured Rs 2 crore in a Seed round led by Inflection Point Ventures, with support from Chandigarh Angel Network and Growth91. The funding will drive product and tech advancements, expand the team, and bolster sales and marketing efforts for the AI-powered customer support platform.

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