ED May Question Jaggi Brothers, HUL’s Acquisition, and Flipkart’s Reverse Flip

Devyani International’s got a spicy new craving—Biryani By Kilo is on the menu. Meanwhile, the ED is circling the Jaggi brothers as the Mahadev betting probe deepens. HUL wraps up a ₹2,706 Cr glow-up with its Minimalist acquisition, and Flipkart joins the reverse flip parade, eyeing a homecoming to India. Besides, there's also Startup Spotlight to savor.

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

“Khao, Piyo, Ash Karo Mitron”: Devyani International To Pick Up Majority Stake In Biryani By Kilo

Looks like your next biryani order might come with a side of KFC swagger. Devyani International, the folks behind KFC and Pizza Hut in India, are now eyeing a majority stake in Biryani By Kilo.

While the price tag remains hush-hush, this move could spice up the cloud kitchen game in a big way.

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“Bhagwaan Se Toh Daro”: ED Likely To Question Jaggi Brothers In Mahadev Betting Probe

The ED’s turning up the heat—over 5 lakh Gensol Engineering shares have just been frozen, even before Anmol and Puneet Singh Jaggi get a formal summons.

Investigators think there’s a whiff of price manipulation, with links pointing to Dubai’s Zenith Multi Trading DMCC. All this ties back to the massive INR 20,000 Cr Mahadev betting scandal, which keeps revealing new layers of shady drama.

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“Hum Saath Saath Hai”: HUL Completes Acquisition Of 90.5% Stake In Minimalist

Hindustan Unilever has now formally acquired a 90.5% stake in Uprising Science, the parent company of skincare brand Minimalist, for ₹2,706.44 crore. The move, announced on April 21, marks HUL’s deepening focus on the science-led personal care segment.

As legacy FMCG giants pivot towards clinical beauty, the line between pharmaceutical precision and everyday skincare continues to blur.

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“Mai Ghar Wapas Aaunga”: Flipkart Joins The Reverse Flip Parade

Flipkart’s finally packing its bags—this time, heading home. For the first time ever, the e-commerce giant has publicly confirmed it's looking to shift its base from Singapore to India.

The company says it’s all about staying rooted in India’s growth story, and this move signals just how seriously it’s taking that pledge.

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1. Mumbai’s A91 Partners has wrapped up its third fund at a solid $665 million, backing growth stories like Sugar Cosmetics and Atomberg. It’s the firm’s third close since launching in 2018, signaling steady confidence in India’s rising startups.
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2. Electric mobility startup Yulu is now in talks to raise $75–80 million, chasing the surge in quick commerce demand. This follows its earlier plan from October 2024 to secure $100 million in Series C funding over a year.
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3. Rebel Foods has quietly bagged $25 million from Qatar Investment Authority, as it preps for a public listing by 2026. The fresh funding reportedly pegs the cloud kitchen giant at a $1.4 billion valuation.
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4. Uniqus Consultech has raised $20 million in Series C funding from Nexus Venture Partners and Sorin Investments. The capital will fuel its global expansion, AI-driven R&D, and broaden its ESG and risk management solutions.
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5. In March, the board of Mensa Brands approved issuing 4,800 non-convertible debentures to raise fresh capital. The house of brands unicorn aims to channel the funds toward working capital needs and general corporate purposes.
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6. HouseEazy, fresh off turning profitable in FY24, is now in talks to raise new funds from a major VC and Chiratae Ventures. The home resale marketplace had earlier secured $7 million in August 2023 and is eyeing further growth.
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“Waah, Kya Scene Hai”: EasyRugs Is Revolutionizing Home Décor with Washable, Stylish Rugs

EasyRugs spilled coffee and ketchup on national TV—and walked away with a deal. The Delhi-based startup, founded by interior designer Harnam Kaur and lawyer-turned-entrepreneur Samrath Singh Nagpal, wowed Shark Tank India with their washable, pet-friendly, and anti-skid rugs.

With ₹35 lakh now in hand from Aman Gupta and Vineeta Singh, EasyRugs is gearing up to scale, rebrand, and roll out kid-friendly collections for mess-prone modern homes.

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