Nazara’s Openplay Relief, Verlinvest’s Doubling of Stake, Paytm’s AI Initiatives and more

Zomato's Deepinder Goyal bids farewell to Shark Tank India as rival Swiggy steps in as the show's new sponsor. Meanwhile, Nazara's Openplay secures a legal victory in Calcutta, and Swiggy rolls out an electric fleet in Gurugram, complementing its ambitious 10-minute delivery service, Bolt. In a twist, Honasa asserts it has no assets in the UAE amid its ongoing dispute with a former distributor.

On the investment front, Verlinvest plans to double its stake in Indian startups, while Paytm strengthens its AI initiatives with the appointment of Manmeet Dhody as "AI Fellow." Lastly, DroneAcharya teams up with ABS to venture into international markets, signaling an exciting expansion for the drone industry.

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

What Matters

“Ye Dushmani Kabhi Nahi Mitegi”: Zomato’s Deepinder Goyal Out of Shark Tank India as Rival Swiggy Set to Sponsor the Show

In a surprising turn, Deepinder Goyal, CEO of Zomato, has been removed from the upcoming season of “Shark Tank India” due to Swiggy’s sponsorship demands. The INR 25 crore deal includes a clause ensuring Goyal’s exclusion, as Swiggy prepares for its much-anticipated IPO.

With Swiggy’s IPO expected to raise INR 5,000 crore through fresh shares, the rivalry between the two food tech giants deepens both on and off screen.

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“Mereko Aisa Dhak Dhak Horela Tha”: Nazara's Openplay Gets Interim Relief from Calcutta HC

In a significant relief for Nazara Technologies, its subsidiary Openplay Technologies has secured interim protection from the Calcutta High Court.

This comes after West Bengal’s GST authorities slapped an INR 845.7 crore tax notice on the gaming firm. With the court’s reprieve, Nazara can breathe a little easier as the legal process continues.

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“Waah, Kya Scene Hai”: Now, Swiggy Rolls Out Electric Fleet for Larger Orders in Gurugram

On the day of Haryana elections, Swiggy introduced its new Swiggy XL EV fleet in Gurugram, offering electric vehicles for bulk food orders.

The company plans to roll out this eco-friendly service to other cities soon. Hot on the heels of its Swiggy Bolt launch, which promises 10-minute deliveries, Swiggy is driving forward with sustainability and speed.

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“Thanda Paani Peena Ka”: Swiggy Launches 10-Minute Food Delivery Service Bolt

Swiggy has rolled out its 10-minute food delivery service, Bolt, across six cities, including Bengaluru and Mumbai, with plans for a nationwide expansion soon. Rohit Kapoor, Swiggy's food marketplace CEO, confirmed the company’s broader ambitions.

This rapid delivery move follows closely on the launch of Swiggy Café, a 15-minute snack and beverage service, as Swiggy gears up for its much-anticipated IPO.

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“Maamla Legal Hai”: Honasa vs Distributor as D2C Brand Says it has No Assets in UAE

In a brewing legal battle, D2C brand Honasa, parent company of Mamaearth, clarified it has no assets in the UAE after the Dubai court rejected its grievance against former distributor RSM General Trading. RSM had sought to cancel Honasa’s trading license and attach its assets in the region.

Honasa now plans to file contempt proceedings against RSM in Delhi for not complying with a prior Delhi High Court order.

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“Double Dhamal”: Purplle-Backer Verlinvest to Double its India Investments

Verlinvest, the backer of beauty e-commerce platform Purplle, plans to double its investments in India over the next two to three years.

With over $110.3 million invested annually in recent years, the VC firm is now setting its sights on the booming lifestyle and healthcare sectors. This move signals Verlinvest’s confidence in India’s growing consumer market.

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“Aaiye Aapka Intezaar Tha”: Paytm Fortifies its AI Play, Appoints Payments CTO Manmeet Dhody as AI Fellow

Paytm is doubling down on its AI ambitions by appointing Manmeet Dhody, its CTO, as the new "AI Fellow" to spearhead AI-driven business innovations. Meanwhile, Deependra Singh Rathore has been promoted to CTO-Payments, reflecting Paytm's focus on strengthening its core operations.

CEO Vijay Shekhar Sharma had recently emphasized the company’s commitment to embedding AI into its payment ecosystem, and these leadership shifts reinforce that vision.

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“Janmo Ke Saathi”: DroneAcharya Joins Hands with ABS to Expand into Overseas Markets

DroneAcharya, the listed Indian drone startup, has partnered with American Blast Systems (ABS) to tap into the US, UK, and European markets.

This collaboration aims to manufacture and distribute drones across key sectors like defense, law enforcement, agriculture, and logistics. With this move, DroneAcharya is positioning itself for significant international growth in the booming drone industry.

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1. Navi Finserv's revenue dropped 6.6% to INR 1,906.2 Cr in FY24, down from INR 2,040.6 Cr the previous year. The company's profit after tax also took a hit, declining 41% year-on-year to INR 155.6 Cr.

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2. Zaggle has expanded its Employee Stock Option Plan (ESOP) 2022 by allocating an additional 44,161 stock options, valued at INR 2.03 Cr based on Friday's closing price. The exercise price for these options is set at INR 335 per share, enhancing the company's incentive for its employees.

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3. Goldman Sachs has increased its stake in CarTrade to 7.19% by acquiring an additional 9.78 lakh shares through open market transactions. This move follows Warburg Pincus's exit from CarTrade, where the private equity firm divested over 40.76 lakh shares, totaling 8.64%.

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