Delhivery Expands ESOP Pool, Byju’s Faces A Shakeup, PharmEasy’s Valuation Takes A Dive and more

Delhivery sweetens the deal for its team with a massive ESOP expansion, while Byju’s faces a shakeup as GLAS Trust is ousted from the creditors' committee. Flipkart's fashion chief, Arief Mohamad, may soon join Angel One, and TRAI cracks down on spammers by blacklisting 50 entities. Germany’s FlixBus makes its debut in South India with new routes, and the Centre launches a hefty INR 750 Cr AgriSURE Fund to boost agritech innovation. Meanwhile, PharmEasy’s valuation takes a dive to $458 million, marking a dramatic shift from its peak.

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What Matters

“Kaddu Katega, Sab Mein Batega”: Delhivery Expands ESOP Pool With Additional Stock Options

Delhivery is sweetening the deal for its employees yet again. On September 2, 2024, they allocated 63,538 stock options at just INR 1 per share. These options will vest gradually over four years, with the first 10% kicking in after a year.

This latest move comes on the heels of hefty ESOP allocations in July and August, reinforcing Delhivery's commitment to rewarding its team.

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“Daal Hi Kaali Hai”: Byju’s resolution professional removes GLAS Trust from committee of creditors

BYJU'S is making headlines as the National Company Law Tribunal (NCLT) appointee, Pankaj Srivastava, removed GLAS Trust from the Committee of Creditors (CoC) on September 3, 2024.

This bold move has stirred controversy, with GLAS Trust accusing Srivastava of bypassing the Insolvency and Bankruptcy Code and stripping them of claims worth over $1.35 billion. The Trust has now petitioned to replace Srivastava, adding another twist to BYJU'S ongoing financial saga.

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“Swag Se Karenge Sabka Swagat”: Flipkart Fashion Head Arief Mohamad Likely To Join Angel One

Arief Mohamad, Flipkart's fashion guru, is rumored to be switching lanes to the stock market. After a nine-year stint at Flipkart, where he recently led the fashion vertical, Mohamad is reportedly set to join Angel One as their new Chief Business Officer.

He'll be stepping into the shoes of Prateek Mehta, who held the role for 18 months at the trading firm.

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“Waqt Rehte Sudhar Jaao”: TRAI Blacklists 50 Entities For Spamming Users

TRAI is cracking down on spam with a vengeance. The telecom regulator has blacklisted 50 entities for spamming users, leading to the disconnection of over 2.75 lakh mobile numbers.

With more than 7.9 lakh complaints pouring in against unregistered telemarketers in the first half of 2024, TRAI's tough stance is a win for harassed users everywhere.

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“Kya Se Kya Ho Gaya”: Germany's FlixBus Expands Services To South India, Launches Hub

Germany’s FlixBus is zooming into South India. With 14 brand-new buses launching six routes around Bengaluru, they’re now connecting travelers in 101 Indian cities.

Since 2011, FlixBus has been making affordable intercity travel easy across more than 40 countries, and their South India hub is set to rev up your journeys even more.

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“Janhit Mein Jaari”: Centre Launches INR 750 Cr AgriSURE Fund To Back Agritech Startup

The Centre is sowing seeds for agritech growth with the launch of the INR 750 Cr AgriSURE Fund. This SEBI-registered fund will provide both equity and debt support to startups focusing on agriculture and rural areas.

With contributions from the Centre, NABARD, and private investors, it’s a major boost for the sector. Plus, the new Krishi Nivesh portal will centralize investment opportunities and agri-info, making it easier for innovators to flourish.

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“Gayi Bhains Paani Mein”: PharmEasy valuation slashed to $458 Mn by Janus Henderson

PharmEasy's valuation has taken a drastic plunge, now standing at just $458 million—a staggering 92% drop from its $5.6 billion peak in 2021. Global asset manager Janus Henderson slashed the online drug marketplace's valuation in a recent SEC filing, marking down its investment by nearly 92%.

Struggling to raise funds to repay a hefty debt to Goldman Sachs, PharmEasy's financial woes continue to deepen, with this latest markdown adding to its challenges.

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1. Invest4Edu just secured $3 million in seed funding to boost its education and career planning services. With this fresh capital, the startup aims to accelerate growth and expand its sales and marketing efforts.

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2. Traveltech startup The Hosteller has bagged INR 32 Cr (around $4 Mn) in a fresh funding round led by V Cube Ventures, with contributions from LV Angel Fund and others. This new capital will likely fuel their expansion and innovation in the travel space.

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3. JUSTO Realfintech has secured $7 million from Arbour Investments, with $5 million in equity and $2 million in debt. This fresh funding will help the Mumbai-based proptech startup expand its footprint in the real estate tech space.

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4. Zerodha-backed Rainmatter has invested INR 10 Cr each in several early-stage startups across fintech, clean energy, climate tech, and healthtech. This follows their recent INR 58.25 Cr infusion into agritech firm Two Brothers Organic Farms.

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5. Sunsure Energy has secured INR 226 Cr in long-term debt financing from Tata Capital to boost its open-access solar projects in Uttar Pradesh. The funds, structured across five SPVs, will support the expansion of 75 MWp of solar capacity.

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