Delhi HC Takes Stern Action, Nykaa’s Shares Soar, Piyush Goyal Slams Amazon's 'Predatory Pricing Policies’ and more

Delhi High Court has pushed Honasa's UAE distributor to reverse its Dubai execution proceedings, while Lendingkart teams up with Tata Capital to supercharge MSME growth. Nykaa’s shares have surged to a new 52-week high, and Piyush Goyal has taken aim at Amazon’s pricing tactics.

Insurance Dekho is expanding its leadership team, and Ola Electric rebounds after a market dip. Meanwhile, Chiratae Ventures launches its third seed investment cohort, VCats++ gears up for its sixth 'Angel School,' and Flipkart-backed SuperMoney rolls out its new UPI app.

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

What Matters

“Ab Aayega Maza”: Ola Electric In Green After First Significant Drop In Bull Run

After a brief dip, Ola Electric's shares rebounded, climbing 4.4% to hit an intraday high of INR 143.8. This bounce back comes after a 6% correction in the previous session, showing resilience in the startup's bull run.

Although the shares later settled at INR 137.94, they remained slightly above the previous close, signaling steady investor confidence.

Read more here

“Maamla Legal Hai”: Delhi HC Directs Honasa’s UAE Distributor To Revoke Its Execution Proceedings In Dubai

Delhi High Court has stepped in to safeguard Honasa, the parent company of Mamaearth, by directing its former UAE distributor, RSM General Trading, to revoke an enforcement order in Dubai. To ensure compliance, RSM must deposit a hefty INR 57.17 Cr in the court's registry until the case is resolved.

If the Dubai court still enforces the order, the Delhi HC has promised to release the funds to Honasa.

Read more here

“Ek Doosre Se Karte Hain Pyar Hum”: Lendingkart Joins Hands With Tata Capital To Boost India's MSME

Lendingkart has teamed up with Tata Capital to empower India’s MSMEs by offering unsecured business loans through its SaaS platform, 2gthr. Having already disbursed over 300,000 loans, Lendingkart's 2gthr platform now partners with around 30 financial institutions, including Tata Capital.

This collaboration marks another milestone in Lendingkart's mission to support small businesses across the country.

Read more here

“Yahan Ke Hum Sikandar”: Nykaa Shares Rally 19% To Hit New 52-Week High At INR 228.5

Nykaa shares soared by 19%, reaching a new 52-week high of INR 228.5, as the beauty and fashion giant outpaced market expectations. This impressive rally has pushed the startup's market valuation past INR 60,214 Cr, with a year-to-date jump of nearly 29%.

Driven by more than doubling its Q1 FY25 net profit to INR 13.6 Cr, Nykaa continues to shine brightly in the stock market.

Read more here

“Sashakt Bharat, Surakshit Bharat”: Piyush Goyal Slams Amazon's 'Predatory Pricing Policies’

Union Minister Piyush Goyal recently criticized Amazon's "predatory pricing policies," suggesting that the ecommerce giant's plans to invest billions in India are merely an attempt to offset its losses.

His comments came shortly after Amazon announced a $15 Bn investment by 2030, bringing its total to $26 Bn. While Goyal isn't against ecommerce, he emphasized the need for India to carefully consider its implications.

Read more here

“Waah, Kya Scene Hai”: Insurance Dekho Boosts Leadership Team With New Hirings

InsuranceDekho is strengthening its leadership team with a wave of new hires, aiming to drive expansion and innovation. Ankit Mahajan will spearhead growth and partnerships, while Nishant Gupta and Sonali Mitra join as VPs of technology and strategic projects, respectively.

With these key additions, InsuranceDekho is gearing up for an exciting phase of growth and transformation.

Read more here

“Kaddu Katega, Sab Mein Batega”: Chiratae Ventures Rolls Out 3rd Cohort Of Its Seed Investment Programme

Chiratae Ventures has launched the third cohort of its flagship seed investment program, Chiratae Sonic, continuing its mission to nurture early-stage startups. In the previous two editions, Chiratae Ventures invested around $25 million across 20 companies at the seed and pre-Series A stages.

With this new cohort, the firm is set to further boost India's startup ecosystem by backing promising innovators.

Read more here

“Janhit Mein Jaari”: VCats++ Back With ‘Angel School’ To Equip Investors With Knowledge For Angel Investing

Venture Catalysts++ is bringing back its popular 'Angel School' program for a sixth edition on August 24-25, aimed at educating aspiring angel investors. This initiative equips participants with essential tools and insights to make savvy investment decisions in the startup world.

With a growing interest in angel investing, this program promises to empower the next wave of investors in India’s vibrant startup ecosystem.

Read more here

“Paise Ka Khel”: Flipkart-backed SuperMoney launches UPI app

Flipkart-backed SuperMoney has officially launched its credit-first UPI app for all Android users, following a successful beta run in June. The fintech platform, a subsidiary of Flipkart, is also gearing up to introduce its credit-on-UPI feature in just two weeks.

This move is set to enhance the digital payment experience by seamlessly integrating credit with UPI transactions.

Read more here

1. Raipur-based D2C spices startup Zoff has raised INR 40 Cr from JM Financial Private Equity, marking its second major funding round. The startup previously secured INR 1 Cr from boAT founder Aman Gupta last year.

   Read more here

2. AI-focused cloud provider E2E Networks has raised INR 420.5 Cr through a strategic equity share issue, bolstering its cloud infrastructure capabilities. This investment, involving the promoter group and public investors, aims to fuel the company's growth and technological advancements.

   Read more here

3. Mumbai-based fintech startup TransBnk has secured $4 million from 8i Ventures to enhance its transactional banking technology. This marks the company's first significant institutional funding since its $1 million round in June 2023.

   Read more here

4. LLUMO AI has secured $1 million in seed funding, led by SenseAI Ventures, with additional backing from India Quotient, AumVC, and others. The funding will drive the AI optimization company's growth and innovation.

   Read more here

5. Venture Catalysts has led a seed funding round for NxtQube, which creates automation solutions for the drone industry. The investment supports NxtQube’s goal to serve the growing drone market across Asia Pacific, Europe, and the US.

   Read more here

6. NLB Services has invested an undisclosed sum in Humanize, an AI-driven SaaS venture, to scale its technology and R&D efforts. Humanize will initially focus on India, the Middle East, and the US, while eyeing expansion into international markets like Southeast Asia and Europe.

   Read more here