GoKwik Steps Into Global Waters, FlixBus Looks South, Zaggle’s Shares Soar and more

GoKwik is stepping into global waters by acquiring Shopify app Return Prime, while the Centre is considering ramping up the India Semicon Mission with a bigger budget. FlixBus teams up with ixigo’s AbhiBus to accelerate its Southern India expansion, and Zaggle’s shares soar after securing a major deal with HDFC ERGO.

Swiggy is eyeing a hefty INR 5,000 Cr through a fresh IPO, and the Commerce Ministry is addressing gig workers’ tough conditions. Meanwhile, PhonePe partners with Liquid Group to make UPI payments easier for Indian travelers in Singapore.

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What Matters

“I’m Stepping Out”: GoKwik Makes Overseas Foray With Acquisition Of Shopify App Return Prime

GoKwik is stepping up its game with a bold move into the global market by acquiring the Shopify app, Return Prime.

This strategic acquisition allows GoKwik to leverage Return Prime's expertise in managing returns, exchanges, and refunds, setting the stage to onboard over 10,000 new customers. It’s a big leap forward as they tap into an international customer base, expanding their reach and influence.

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“Janhit Mein Jaari”: Centre Mulls Expanding Scope Of INR 76,000 Cr India Semicon Mission

The Centre is considering boosting the budget for the India Semiconductor Mission as the demand for sops surges, with INR 60,000 Cr already allocated.

Launched in 2021 with a hefty INR 76,000 Cr outlay, the programme might see even more funding to power India’s semiconductor ambitions. This potential expansion signals the government's commitment to solidifying India's place in the global semiconductor race.

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“Yenna Rascala, Mind It”: FlixBus Partners ixigo’s AbhiBus To Bolster Its Southern India Expansion

FlixBus is hitting the road in Southern India with a new partnership with ixigo's AbhiBus, offering bus routes starting at just INR 99. This move will help the German traveltech startup expand into key cities like Coimbatore, Madurai, Tirupati, and Vijayawada.

Since its February launch in Delhi, FlixBus has rapidly grown, now connecting 101 cities across India.

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“Mera Hi Jalwa”: Zaggle Shares Surge Over 6% As Co Bags Order From HDFC ERGO

Zaggle shares jumped over 6% after securing a major order from HDFC ERGO, pushing the startup's market capitalization to INR 4,500 Cr.

Although the stock pared some gains, ending 4.6% higher, it's still a win for the company, which will now provide its Propel reward platform to HDFC ERGO until August 2025. Since its stock market debut last September, Zaggle's shares have soared 68% year to date, marking a strong performance.

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“Yahan Ke Hum Sikandar”: Swiggy To Increase IPO Size, Eyes INR 5,000 Cr Via Fresh Issue

Swiggy is gearing up to make a bigger splash with its IPO, now aiming to raise INR 5,000 Cr (around $600 Mn) through a fresh issue of shares, up from the earlier planned INR 3,750 Cr.

The food tech giant will seek shareholder approval for this revised plan at its extraordinary general meeting on October 3. With its consolidated net loss already slashed by 44% in FY24, Swiggy seems poised for a strong market debut.

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“Workers Of The World, Unite”: Commerce Ministry Takes Cognisance Of Gig Workers' Skewed Working

The Commerce Ministry has taken note of the challenging working conditions faced by gig workers, following a letter from a gig workers' collective. The ministry is also examining how quick commerce models are affecting traditional kirana stores.

This move highlights the growing concerns over the balance between modern convenience and fair labor practices in India's rapidly evolving commerce landscape.

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“Hum Saath Saath Hai”: PhonePe partners with Liquid Group to expand UPI payments in Singapore

PhonePe is making life easier for Indian travelers in Singapore by partnering with Liquid Group to expand UPI payments across the island nation. This collaboration allows users to pay in Indian Rupees at various merchants, bringing a new level of convenience and transparency.

Now, whether shopping or dining, Indian tourists can enjoy seamless transactions with just a tap.

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1. Nestasia has secured $8.35 Mn in fresh funding to fuel its expansion into offline stores and new product categories. The home decor startup, founded in 2019, aims to open 30 stores by the end of 2025, enhancing its brand presence across multiple cities.

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2. Exposome has secured fresh funding, including a 10% stake from Colossa Ventures, to scale up its water and air purification solutions. With backing from notable investors, the startup aims to expand its operations and enhance its market reach.

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3. Crackle Technologies, founded by former Google execs, has raised $1.7 Mn in pre-seed funding to enhance AI-driven solutions for optimizing ad revenue for publishers. The startup aims to revolutionize programmatic advertising and address key challenges in digital content monetization.

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