OfBusiness’ IPO Plans, Zomato Vs Swiggy, BYJU’S faces hurdles

OfBusiness is taking the IPO plunge, teaming up with five major banks to fuel its public debut. Zomato, with a 58% market share, continues to edge ahead of Swiggy in the food delivery race, while Innoviti strengthens its IPO prospects by bringing in Nish Kotecha to its advisory board.

Meanwhile, BYJU’S faces hurdles as its lenders oppose Aakash’s extraordinary general meeting. On the global front, Walmart’s international sales get a boost from Flipkart’s Big Billion Day Sale. And in the world of partnerships, Decathlon has joined forces with Blinkit to speed up deliveries across India.

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

“Dukhi Man Mere Sun Mera Kehna”: BYJU’S Term Loan B Lenders Oppose EGM Of Aakash

BYJU’S continues to grapple with turbulence as its Term Loan B lenders push back against an EGM called by its subsidiary, Aakash.

The lenders' opposition reflects rising tensions within the edtech giant’s financial dealings. As BYJU'S navigates these choppy waters, all eyes are on its next move to steady the ship.

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“Ye Dharm Yuddh Hai”: Food Delivery War As Zomato Extends Lead Over Swiggy With 58% Market Share

Zomato is pulling ahead in the food delivery race, capturing 58% of the market by Q1 FY22, up from 54% the previous year.

Analysts credit the Deepinder Goyal-led company’s “stronger execution” for this steady climb. Swiggy now faces a tougher battle as Zomato tightens its grip on gross order value.

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“Janmo Ke Saathi”: Decathlon partners with Blinkit

Decathlon and Blinkit have teamed up to bring sports gear to your doorstep at lightning speed.

This partnership ensures quick delivery across Blinkit’s service locations, including smaller cities. Making quality sports equipment more accessible just got a serious upgrade.

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“Chhota Packet, Bada Dhamaka”: OfBusiness Sets The IPO Ball Rolling, Onboards Five Banks

OfBusiness is gearing up for its IPO debut, and it's not holding back—teaming up with five investment heavyweights like Axis Capital, Morgan Stanley, and Citigroup.

“We’re not timing the market; we’re profitable,” cofounder Nitin Jain said, exuding confidence. With its financials in check, the unicorn seems ready to turn its B2B prowess into a stock market spectacle.

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“Aaiye Aapka Intezaar Tha”: Innoviti Ropes In Nish Kotecha to Advisory Board Ahead of IPO

Innoviti is strengthening its game ahead of its IPO by welcoming Nish Kotecha to its advisory board.

Known for his fintech expertise with Finboot and Agam, Kotecha will steer Innoviti’s push for innovative payment solutions. With the IPO on the horizon, this move signals big ambitions in the fintech space.

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“Badhai Ho Badhai”: Buoyed By Flipkart’s Big Billion Day Sale, Walmart’s International Sales Zoom

Walmart’s international sales soared 8% YoY to $30.3 billion in Q3 FY25, with Flipkart’s Big Billion Day stealing the spotlight.

The e-commerce giant powered this growth, boosting Walmart’s net sales and nudging its gross profit rate up to 24.2%. Flipkart continues to prove itself as Walmart’s MVP in global markets.

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1. SolarSquare is eyeing a $30 Mn funding boost, which could triple its valuation in just months. Backed by investors like Zerodha and Gruhas Proptech, the rooftop solar startup is shining bright in the renewable energy space.

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2. Blitz has secured INR 51 Cr in Series A funding led by IvyCap Ventures to supercharge its 60-minute delivery infrastructure. The same-day delivery platform aims to revolutionize speed for omnichannel sellers.

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3. Doodhvale Farms has raised $3 Mn in a funding round co-led by Atomic Capital and Singularity Early Opportunities Fund. The dairy startup plans to use the funds to expand its product portfolio and enhance operations.

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4. Koo cofounder Mayank Bidawatka has secured $4 Mn in seed funding for his new venture, Billion Hearts Software Technologies. The round, led by Blume Ventures, General Catalyst, and Athera Venture Partners, follows a $250,000 raise in September from notable industry figures.

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5. Ecommerce logistics startup Locad has raised $9 Mn in a Pre-Series B round to help brands master the omnichannel experience. Co-led by Global Ventures and Reefknot Investments, the round also saw support from Sumitomo Equity Ventures and others.

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6. Indic Wisdom, a Mumbai-based maker of wood-pressed oils, has raised $2 Mn from Rockstud Capital to scale up its manufacturing and explore quick commerce. The Indian cold-pressed oil market, valued at $79.9 Mn in 2023, is set to grow significantly in the coming years.

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