BluSmart’s Scandal, Swiggy’s New Moves, Zomato’s ESOP and Uber's Shikara

BluSmart is ramping up safety measures after a robbery incident, while Swiggy hits adjusted EBITDA profitability and sees a massive 136% YoY revenue surge for Instamart. Swiggy also sets its sights on the sports and amusement sector, and Zomato boosts its ESOP with a hefty equity share allocation. In the fintech space, Signzy launches an investigation into a security breach, while 17 crypto platforms face scrutiny over tax evasion.

Flipkart and PhonePe are making strategic moves in the quick commerce and payment sectors, respectively, while Uber introduces Asia's first water transport service in Jammu and Kashmir. In the EV space, Hyundai partners with IITs for advanced research, and British International Investment injects $33.5 million into India’s electric vehicle ecosystem.

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

“Maine Nikla Gaddi Leke”: Swiggy To Foray Into Sports & Amusement Business

Swiggy is branching out into sports, amusement, and recreation with a new wholly owned subsidiary, marking a significant diversification beyond its core offerings.

At the same time, the company’s board has approved an INR 1,600 Cr investment in Scootsy Logistics to drive Instamart’s growth, with INR 1,350 Cr coming from its IPO proceeds. The dual moves reflect Swiggy's ambitions to expand its footprint while bolstering its quick commerce business.

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“Waqt Rehte Sudharna Tha”: 17 Crypto Platforms Under Scanner For Alleged GST Evasion Of INR 824 Cr

Seventeen crypto platforms are under the radar for allegedly evading INR 824 Cr in GST, with Binance's subsidiary, Nest Services, taking the lion's share at INR 722.43 Cr.

WazirX's parent company, Zanmai Labs, faces a INR 40.51 Cr bill, while CoinDCX and Neblio Technologies are also implicated for evading INR 26.63 Cr. The crackdown signals tighter scrutiny over the burgeoning crypto industry in India.

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“Future Is Here, Where Are You”: Hyundai Motor Group ties up with IITs to advance battery, electrification research

Hyundai Motor Group is powering up its future with a strategic collaboration with IIT Delhi, IIT Bombay, and IIT Madras to advance battery and electrification research.

The South Korean giant is investing USD 7 million over the next five years to drive innovation in these critical fields. This partnership highlights Hyundai's commitment to shaping the future of sustainable mobility with cutting-edge technology.

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“Simon Don’t Go Back”: British International Investment fuels India’s EV ecosystem development with $33.5m of commitments

British International Investment is accelerating India’s electric vehicle (EV) revolution with a $33.5 million boost, channeling funds into Everest Fleet, TI Clean Mobility, and Vecmocon.

This move aims to drive sustainable growth, reduce air pollution, and fuel technological innovation within the EV sector. The commitments are expected to create jobs and further cement India’s role in the green mobility space.

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“Ajeeb Janwar Hai Ye Insaan”: BluSmart To Step Up Safety Protocols After Driver Allegedly Robbed Passenger At Gunpoint

BluSmart's promise of a safer ride hit a grim bump when a driver allegedly robbed a passenger at gunpoint, making away with INR 55,000.

While the driver was arrested within 24 hours, the incident has cast a shadow over the EV cab hailing startup's safety assurances. In response, BluSmart is stepping up its game, announcing stricter training for drivers and rolling out enhanced tech measures to prevent such breaches in the future.

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“Aage Badhe Chalo”: Swiggy Sees Adjusted EBITDA Profitability In Q3 FY26 & Swiggy Instamart’s Q2 Revenue Zooms 136% YoY To INR 490 Cr

Swiggy is cooking up a profit storm, projecting adjusted EBITDA profitability by Q3 FY26, while its food delivery business already leads the charge with improving margins.

Instamart is no slouch either, with revenue soaring 136% YoY to INR 490 Cr in Q2 FY25. Swiggy’s Out-of-Home Consumption business also shows promise, targeting a break-even this fiscal.

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“Achha Chalta Hoon”: Anindya Ghose Quits As Independent Director Of Delhivery

Delhivery bids farewell to Anindya Ghose, who has stepped down as its non-executive independent director after a tenure of one and a half years.

Citing personal commitments, Ghose’s resignation marks a notable change in the boardroom of the logistics unicorn. The company disclosed the development in a recent regulatory filing, signaling yet another leadership shift in the startup space.

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“Kaddu Katega, Sab Mein Batega”: Zomato Allots 47.75 Cr Equity Shares To Foodie Bay Employees ESOP Trust

Zomato has issued 47.75 Cr equity shares to its Foodie Bay Employees ESOP Trust, covering multiple ESOP schemes from 2018 to 2024.

This move raises the company’s paid-up equity share capital to INR 965.03 Cr from INR 917.28 Cr. However, it seems the market appetite waned slightly, with Zomato shares dipping 1% to INR 279.65 on the BSE.

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“Badi Mushkil Baba Badi Mushkil”: Fintech SaaS Startup Signzy To Launch Probe After Alleged Security Incident

Fintech SaaS startup Signzy is in hot water following an alleged cyberattack last week, prompting the company to launch an internal probe.

CERT-In is actively involved, coordinating with authorities to address the breach. Among its clients, PayU has confirmed receiving written updates from Signzy, as the industry watches closely for more details.

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“I’m Steppin’ Out”: PhonePe To Discontinue Partnership With Juspay, Cites Conflict Of Interest

PhonePe is dialing back on third-party integrations, parting ways with payment aggregator Juspay due to a cited conflict of interest.

The move signals PhonePe's intent to streamline operations and prioritize its in-house capabilities. As competition in the digital payments space intensifies, such strategic pivots could redefine industry alliances.

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“Ready Steady Po”: Flipkart Plans 10-Minute Medicine Delivery Amid Quick Commerce Boom

Flipkart is gearing up for a speedy entry into the quick commerce race, planning to deliver medicines within 10 minutes.

By teaming up with local pharmacists, the ecommerce giant aims to ramp up its drug delivery services for customers. With Amazon India also preparing to debut its quick commerce venture, Tez, the competition in this space is heating up fast.

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“Waah, Kya Scene Hai”: Uber rolls out Asia’s first water transport service in Jammu and Kashmir with shikara bookings on its app

Uber is making waves in Jammu and Kashmir with Asia’s first water transport service, letting users book shikara rides on Srinagar’s Dal Lake via its app. Dubbed Uber Shikara, the service draws inspiration from European water transport like Venice’s gondola rides.

It’s a unique blend of technology and tradition, offering both locals and tourists a modern way to explore the iconic lake.

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1. Agrileaf, a producer of biodegradable dinnerware, has raised $2 million in growth funding, co-led by Capital-A and Samarsh Capital. The round also saw participation from angel investors like Shaji Deve, aiming to scale the company's sustainable business.

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2. Mental health and wellness startup GoodLives has raised Rs 1.1 crore in a pre-seed round led by IIM Lucknow, RNTU, and other investors. The funds will be used to expand the platform's reach, enhance features, and enter new markets.

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3. Waste management startup Bumboo, operated by Imaga Trade and Craft Pvt Ltd, has raised its first angel funding round from prominent industry leaders. The undisclosed amount will support the company’s growth, with investors including Rohan Bhargava, Saurabh Gupta, and others.

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4. Fraud prevention platform RaptorX has secured Rs 4 crore in a pre-seed round, co-led by PeakXV Spark, EagleWings Ventures, and Point One Capital. The round also saw participation from Peyush Bansal, Aman Gupta, and Google SVPs, bringing the total raised to $120K.

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