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  • Massive payday for Majety, ShareChat Launches 'Vibely', BYJU's Unending Sorrows

Massive payday for Majety, ShareChat Launches 'Vibely', BYJU's Unending Sorrows

Plus Nykaa pilots 10 minute deliveries, Physics Wallah picks investment bankers, Mamaearth's new partnership, and fundraising updates for Figr, LearnTube, ZenStatement, SPRY Therapeutics, Swara Fincare, iRasus Technologies, and Deftouch

Swiggy awards a staggering ₹1,748 Cr in ESOPs to founder Sriharsha Majety ahead of its anticipated IPO. ShareChat makes waves with the launch of its new social media app, "Vibely," while Nykaa takes a bold step into quick commerce by piloting 10-minute deliveries in Mumbai.

However, controversy surrounds BYJU'S as it faces accusations of fund transfers from its US units, allegedly breaching bankruptcy rules. On the investment front, Physics Wallah has selected four bankers for a potential $500 million IPO, and Mamaearth partners with Meesho to broaden its reach into tier 3 markets and beyond.

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

What Matters

“Badhai Ho Badhai”: Swiggy Allots ESOPs Worth INR 1,748 Cr To Founder Sriharsha Majety Pre-IPO

Swiggy just cooked up a reward for its founder Sriharsha Majety. The food delivery giant has granted Majety ESOPs worth INR 1,748 Cr as part of its Employee Stock Option Plan (ESOP) 2024, allotting him a whopping 48.56 million shares.

Along with him, key team members also received a slice of the pie, with over INR 3,072 Cr worth of ESOPs dished out to top executives ahead of the company's pre-IPO phase.

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“Dhandha Karne Ki Nayi Tarkib”: ShareChat Launches Social Media App 'Vibely'

ShareChat's parent company, Mohalla Tech, has quietly rolled out its latest social media app, 'Vibely,' in a bid to connect with a broader audience.

This move comes as the company looks to stabilize its financials, aiming to increase revenue and reduce losses. With ShareChat’s projected revenue for FY24 expected to touch INR 700 Cr, up from INR 540 Cr in FY23, 'Vibely' could be a key player in their growth strategy.

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“Ab Delivery Chutkiyon Mein”: Nykaa Pilots 10-Minute Deliveries In Mumbai To Fight Quick Commerce

Nykaa is stepping into the fast lane with a new 10-minute delivery pilot in select areas of Mumbai, covering 5% of its products. This move signals its intent to compete with quick commerce giants like Blinkit and Zepto, especially as demand for lightning-fast beauty and personal care deliveries surges.

With the festive season approaching, Nykaa is racing to offer next-day and same-day deliveries to stay ahead in the competitive quick commerce space.

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“Dukh, Dard, Peeda”: BYJU’S Accused Of Transfering Funds From US Units In Violation Of Bankruptcy Rules

BYJU'S is facing fresh legal heat in the US, with a lawsuit accusing the edtech giant of transferring $700,000 from its American affiliates in violation of bankruptcy proceedings.

The case, filed in Delaware's federal court, adds to the mounting troubles for BYJU'S as it grapples with financial and legal challenges. As the company navigates this crisis, questions about its financial management and compliance are under intense scrutiny.

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“Ab Hogi Kranti, Jai Mahakaal”: Physics Wallah Selects 4 Investment Bankers For $500 Mn IPO

Physics Wallah is gearing up for a significant leap into the public market, selecting four top investment bankers—Axis Capital, Kotak Mahindra Capital, Goldman Sachs, and JP Morgan—for its proposed $500 million IPO.

The offering is expected to combine fresh share issuances with an offer for sale, although the exact details are still being finalized. This comes on the heels of a recent $210 million funding round that doubled the edtech platform's valuation to $2.8 billion, marking an exciting chapter in its growth journey.

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“Janmo Ke Saathi”: Mamaearth partners with Meesho to expand reach in tier 3 and beyond markets

Mamaearth is teaming up with Meesho to broaden its footprint in tier 3 and smaller markets, eyeing a substantial growth spurt. This strategic partnership aims to double the beauty and personal care brand's annual recurring revenue to INR 100 crore.

As Mamaearth continues to make waves in the beauty industry, this collaboration could be a game-changer in reaching new customers across India's diverse markets.

Read more here

  1. Bengaluru-based product design startup Figr has secured $2.25 million in a seed funding round led by Kalaari Capital, with participation from Antler, Golden Sparrow, and various angel investors. This fresh capital will help Figr enhance its innovative design solutions.

    Read more here

  2. LearnTube has raised part of its $2 million seed round, with backing from investors like Blitzscaling Ventures and Goodwater Capital. The startup aims to enhance its AI and product capabilities to launch an AI-powered multilingual live-learning coach.

    Read more here

  3. Finance management startup ZenStatement has raised $1.62 million in a seed round led by 3One4 Capital, with additional support from Boldcap VC and other investors. This funding will help ZenStatement launch its solutions aimed at simplifying financial management for users.

    Read more here

  4. SPRY Therapeutics has secured $15 million in funding from Flourish Ventures, Together Fund, and other notable investors, boosting its total funding to $25 million since its 2021 launch. The AI-driven practice management platform plans to use the new investment to accelerate its expansion in the US market.

    Read more here

  5. Swara Fincare, an MSME-focused NBFC, has raised INR 19.4 crore (approximately $2.3 million) in a Series A funding round led by Unitus Capital's UC Impower fund. This fresh capital will help the company double its assets under management (AUM) and enhance its support for small and medium businesses.

    Read more here

  6. iRasus Technologies, an energy analytics company, has raised INR 4 crore in a seed round co-led by Rohit Rajput and Srikar Reddy of IAN Angel, alongside contributions from DFAN and other angel investors.

    Read more here

  7. Deftouch, a gaming publisher, has secured funding from KRAFTON and other investors to develop mobile games, though the exact amount remains undisclosed. This investment round was co-led by T-accelerate Capital and existing investor Lumikai, with participation from Visceral Capital and Play Venture.

    Read more here

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