Matrimony.com Diversifies, Zomato Steps Into BSE Sensex, Delhivery Expands ESOP

Matrimony.com diversifies into the job market with its new platform ManyJobs, while Zomato secures shareholder approval for a massive ₹8,500 crore QIP and steps into the BSE Sensex, becoming the first new-age tech stock to do so. Meanwhile, WestBridge Capital trims its stake in Freshworks, and Binny Bansal exits PhonePe’s board.

Delhivery expands its ESOP pool, and IIT Bombay’s incubator launches a ₹100 Cr tech fund to back innovative startups. Healthians marks a major financial milestone with EBITDA breakeven, and Smallcase sees a dramatic surge in revenue, cutting its losses by 74%.

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

“Aa Raha Hoon Main”: Zomato Becomes First New-Age Tech Stock To Feature In BSE Sensex

Zomato is making history as the first new-age tech stock to debut on the BSE Sensex, replacing JSW Steel from December 23.

Joining the league of giants like Reliance Industries and Infosys, this move solidifies its standing in India’s corporate elite. Meanwhile, PB Fintech is set to make waves with its addition to the BSE Sensex Next 50 and BSE 100.

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“Haan, Yahi Sapna Hai Tera”: IIT Bombay’s Incubator To Float INR 100 Cr Tech-Focused Fund

IIT Bombay’s incubator, SINE, is launching a ₹100 Cr tech-focused VC fund to back 1,000 startups over the next decade.

With investments ranging from ₹2-15 Cr, the fund will target sectors like medtech, biotech, space, and defence. Having nurtured successes like SaaS unicorn Gupshup and listed player ideaForge, SINE is doubling down on its innovation legacy.

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“Waq Rehte Kalti Maar Lo”: WestBridge Capital Offloads 2% Stake In Freshworks

WestBridge Capital has trimmed its stake in Freshworks, selling 2.75 lakh shares in Q3 2024, bringing its holding to just over 4%, valued at $221 million.

This comes as Freshworks narrows its net loss to $29.95 million, showing slight improvement from last year’s $31.03 million. The move hints at a cautious recalibration amidst the SaaS major’s steady financial strides.

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“Panchi Banu Udti Phiru”: Matrimony.com Forays Into Online Job Market With ‘ManyJobs’

Matrimony.com is widening its horizons, stepping into the online job market with ManyJobs, a platform tailored for “grey collar” workers.

Initially available in Tamil and English, the venture aims to carve a niche by connecting job seekers with employers, monetized through hiring commissions. This launch follows closely on the heels of their fintech platform for wedding loans, signaling the company’s steady pivot into diversified services.

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“Tum Sangharsh Jaari Rakho”: Zomato Receives Shareholders Nod To Raise INR 8,500 Cr Via QIP

Zomato has won the green light from its shareholders to raise a hefty ₹8,500 crore through a Qualified Institutional Placement (QIP).

With over 99.7% votes in favor, the support signals confidence in the company’s growth plans. The funds could power Zomato’s next big leap in the competitive food and grocery delivery space.

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“Kaddu Katega, Sab Mein Batega”: Delhivery Expands ESOP Pool, Allots 4.90 Lakh Stock Options

Delhivery is sweetening the deal for its employees, expanding its ESOP pool with the allotment of 4.90 lakh stock options under the ESOP 2012 scheme.

Each option is convertible into a fully paid equity share, signaling the company’s commitment to rewarding its talent. This move reinforces Delhivery’s focus on long-term employee engagement amidst a competitive market.

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“Tum Sab Apna Apna Dekh Lo”: After Flipkart, Binny Bansal Exits PhonePe Board

Binny Bansal, co-founder of Flipkart, has stepped down from PhonePe's Board of Directors, marking another significant exit from the company’s leadership narrative.

Taking his place, fintech major PhonePe has roped in Manish Sabharwal, Vice-Chairman of TeamLease Services, as an Independent Director and Audit Committee Chair. The shuffle signals a strategic pivot as PhonePe eyes its next growth phase.

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“Waah Kya Scene Hai”: Healthians achieves EBITDA breakeven with Rs 250 Cr income in FY24

Healthians has crossed a key milestone, achieving EBITDA breakeven in FY24 with a revenue jump to ₹243 crore, up 8% year-on-year.

The WestBridge-backed diagnostic startup also slashed its losses by a commendable 65%, signaling a healthier financial trajectory. This steady growth highlights its resilience in a competitive healthcare market.

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“Abhi Mujh Mein Hai Kahin”: Smallcase revenue soars over 2X in FY24; losses down 74%

Amazon-backed Smallcase has staged a sharp turnaround, with revenue more than doubling to ₹67.4 crore in FY24 after a sluggish FY23.

Impressively, the Bengaluru-based firm also managed to cut its losses by 74%, showcasing a disciplined growth strategy. The numbers highlight Smallcase’s strengthening foothold in India’s wealth-tech landscape.

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Quick commerce giant Zepto is racing ahead, raising $350 million at a $5 billion valuation to cement its “Indian” identity. This funding spree crowns Zepto as India’s most funded startup in the past three years.

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