Brewing Buzz: From Aakash's Identity Crisis to Google's Desi App Dilemma ☕🔍

Today, Aakash Institute seeks some distance from its troubled owner as the admission season begins. Meanwhile, Dunzo's saga unfolds, capturing attention but the unwanted kind. Tata's Bigbasket introduces Precia with Sanjeev Kapoor's touch. Amidst all this, Government puts pressure on Google to re-list indigenous apps. Read on for the steaming hot details!

What Matters

“We're not Byju's”: Aakash's attempt to dissociate itself from its troubled purchaser amidst new admission season

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Dunzo Drama Unfurls: NCLT Gives a Week, But Will Dunzo Dance to the Dues' Dhol?

Remember how Zepto raised $200 million at a $1.4 billion value in 2023, making it the first unicorn in India? On the other hand, its rival Dunzo's journey to its current situation illustrates the difficulties and adjustments that come with operating in the ever-changing service delivery industry.

In a turn of events right out of a Bollywood film, Dunzo has received a severe warning from the NCLT in Bengaluru for outstanding debt totaling an astounding INR 4 crore! As the irate petitioner, Betterplace Safety Solutions took the lead, emphasizing Dunzo's financial difficulties and their unwavering quest for justice.

It will be interesting to watch how things play out because the tribunal has given Dunzo just one week to respond to the impending danger of a moratorium by breaking its silence.

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Ye dosti hum nahi todenge: Paytm’s sorrows are ironically now paralleling BYJU’s sorrows

Hold onto your breaths, because the most recent information has just emerged. The Financial Intelligence Unit reported that foreign state actors have been secretly depositing illegal money into Paytm's bank accounts, putting the already derided app in a much hotter soup.

The FIU has expressed concerns about Paytm Payments Bank Ltd.'s reliance on third-party KYC and its inability to disclose suspicious transactions, exposing a financial maze of mayhem and madness.

It appears that money received from illegal activities, including dating services and gambling, has been surreptitiously transferred through Paytm accounts before disappearing into the depths of other countries. Many people are scratching their heads and grabbing for their virtual piggy banks as a result of this financial rollercoaster ride.

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Snatch.co.in of SharkTank India fame ripping designs of Harnoor Singh

See it for yourself here

Modern Khaana Khazana? Bigbasket, owned by Tata, launches Precia in collaboration with chef extraordinaire Sanjeev Kapoor

Precia, a culinary endeavor that is sure to delight taste buds across the country, is the result of Bigbasket, under the Tata banner, donning its chef's hat and teaming up with the culinary maestro, Sanjeev Kapoor himself.

In order to mitigate its losses, Bigbasket has adopted the private label approach and is utilizing Chef Kapoor's goodwill to add some zing to its products. Precia is expected to be a sensory extravaganza that combines the easy shopping experience of Bigbasket with the culinary prowess of Kapoor to bring nothing less than mouthwatering delight to customers' doorsteps.

Now only time will tell if Precia is able to resurrect Bigbasket or if it will make Bigbasket sink harder than the Titanic.

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Pipes of Peace for now? ADIF complains to CCI as the Government makes Google relist desi apps

The Competition Commission of India (CCI), the nation's antitrust watchdog, has received a letter from the Alliance of Digital India Foundation (ADIF) requesting Google to restore the apps that it had deleted due to policy infractions.

Meanwhile, the government of India put its caper on to save the day as it made Google smoke the pipes of peace and promise to reinstall all delisted apps. Though the drama is far from over, Google claims it’s strictly a temporary move, and the matter is still pending before the Supreme Court.

Read more here and here

Fundraising and Financials

1. The identity verification app IDfy raises $27 million, with Elev8 leading the way

   Source: IbisIntelligence

2. Revenue for Agritech startup BigHaat increased to Rs 643 crore in FY23 from Rs 120 crore in FY22

   Source: Entrackr

3. Rozana's rural revolution gets a $22.5 million boost to spice up its logistics game!

   Source: InvestmentGuru