Jupiter’s ESOP Expansion, Byju Raveendran’s Locking Horns With Glas Trust, Zomato Rakes In INR 83 Crore and more

Jupiter is sweetening the deal with a $5 million ESOP expansion, while Pantomath's IIOT introduces a second Cat II fund, boosting investment opportunities. Google Pay, PhonePe, and other giants are gearing up to integrate RBI's digital currency, adding a tech twist to financial transactions. Byju Raveendran is locking horns with creditor Glas Trust at the Supreme Court, amid a backdrop of leadership changes at Swiggy Instamart, which has appointed ex-Hindustan Unilever executive Sairam Krishnamurthy as COO. Meanwhile, Zomato has raked in INR 83 crore from platform fees, highlighting its strong revenue stream despite rising costs.

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

What Matters

“Main Jhukega Nahi”: Byju Raveendran Moves SC With Caveat Against Creditor Glas Trust Company

Byju Raveendran has filed a caveat with the Supreme Court against US-based creditor Glas Trust Company LLC, following the NCLAT's decision to restore Byju's board and halt insolvency proceedings.

Submitted a day after the NCLAT ruling, this preemptive move aims to safeguard against any challenges Glas Trust might bring. The legal battle underscores the intense financial struggles and strategic maneuvers within India's edtech giant.

Read more here

“Hum Kissi Se Kam Nahi”: Jupiter Expands ESOP Pool With Additional $5 Mn Stock Options

Neobanking platform Jupiter has bolstered its employee stock option plan (ESOP) pool by Rs 40 crore (around $5 million). This move places Jupiter among several growth and late-stage companies enhancing their ESOP offerings this year.

It reflects a growing trend of firms prioritizing employee retention and incentive in an increasingly competitive market.

Read more here

“Ab Aayega Maza”: Pantomath's IIOT Floats Second Cat II Alternative Investment

Pantomath has launched its second Cat II Alternative Investment Fund, targeting a hefty INR 2000 crore ($240 million). With INR 1000 crore as the base and a green shoe option for another INR 1000 crore, this fund aims to invest in companies poised for an IPO within three years.

Notably, Pantomath has fully deployed its first Cat II AIF, signaling strong confidence in its investment strategy.

Read more here

“Sabka Saath Sabka Vikas”: Google Pay, PhonePe And Others To Join RBI's Digital Currency

Fintech giants like Google Pay, PhonePe, and AmazonPay are set to join the RBI's digital currency pilot, enabling transactions through the e-rupee. Previously, only the central bank could offer e-rupee via their mobile apps, but now fintechs can too, with RBI's approval.

This move marks a significant step towards integrating digital currency into India's financial ecosystem.

Read more here

“Swag Se Karenge Sabka Swagat”: Swiggy Instamart Ropes In Former Hindustan Unilever Executive Sairam Krishnamurthy As COO

Swiggy Instamart has welcomed former Hindustan Unilever executive Krishnamurthy to oversee its operations, including dark store and infrastructure management, city growth, and expansion.

With experience at Ola Mobility and Hindustan Unilever, Krishnamurthy brings a wealth of expertise to the table. This appointment marks another significant leadership change for Swiggy Instamart as it continues to strengthen its management team.

Read more here

“Zurmana Bharna Padega”: Zomato Collected INR 83 Cr In Platform Fee From Customers

Zomato raked in INR 83 crore from platform fees in FY24, a key factor in its adjusted revenue growth. This helped boost its adjusted revenue by 55.8% to INR 13,545 crore, up from INR 8,693 crore the previous year.

Notably, Zomato increased its platform fee three times this year, from INR 2 to INR 6 per order.

Read more here

1. Country Delight has secured INR 70 crore ($8.35 million) in debt funding from Alteria Capital, following a INR 76 crore round in May 2024. The startup, with an operating revenue of INR 650 crore in H1 FY24, aims to reach EBITDA breakeven by H1 2025.

   Read more here

2. Agritech startup Agrizy has raised $9.8 million (about Rs 82 crore) in a funding round co-led by Accion and Omnivore. The round also saw participation from Capria Ventures, Thai Wah Ventures, and existing investor Ankur Capital.

   Read more here

3. Postman, once valued at $5.6 billion, has recently struck secondary deals at a 30-40% discount to its peak valuation. This sharp discount highlights the declining value of SaaS firms, with early investors partially selling their stakes in the Bengaluru-based company.

   Read more here

4. CURRYiT has raised Rs 4.5 crore in a seed round co-led by RK Family Trust, Tangent Advisors, and Freeflow Ventures, with additional participation from notable investors. This follows a previous $139K raise in 2021 led by RPSG Capital Ventures and IIMU.

   Read more here

5. Cogniquest has secured seed funding from Cedar-IBSi Capital and angel investors to enhance its AI-driven solutions for generating insights from complex documents. The exact amount of funding was not disclosed.

   Read more here