PM Modi Meets Vishal Sikka, Dunzo’s Sorrows, and Snitch Expands

PM Modi’s meeting with Vishal Sikka underscores India’s ambitious push in AI, while Reliance Retail writes off a $200 Mn investment in Dunzo amidst its struggles. Zepto races toward an IPO, BharatPe eyes a major Unity SFB stake sale, and The Good Glamm Group faces financial turbulence with delayed salaries and potential layoffs. On the brighter side, D2C fashion brand Snitch expands offline with 10 new stores, and Blinkit pilots a 10-minute ambulance service, sparking both innovation and regulatory caution.

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

“Tum Sab Apna Apna Dekh Lo”: Reliance Retail Writes Off $200 Mn Dunzo Investment

Reliance Retail has reportedly written off its $200 Mn investment in Dunzo, signaling a tough phase for the beleaguered startup.

Amid a cash crunch and strategic retreat from quick commerce, CEO Kabeer Biswas is said to be exploring acquisition talks with high-net-worth individuals while preparing to step down. With Reliance opting out of rescue efforts, Dunzo’s future hangs in precarious balance.

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“Samay Balwaan Hai”: The Good Glamm Group Delays Salaries, Hints At Mass Layoffs

The Good Glamm Group faces a rough patch, delaying salaries after a funding round fell through and hinting at mass layoffs during a January 2 townhall.

While 85% of staff have now been paid, the startup is exploring strategic moves like onboarding investors or divesting acquired brands like Sirona and The Mom’s Co. The beauty unicorn’s challenges underline the turbulent times for India's D2C sector.

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“Mera Bharat Mahan”: India Committed To Lead AI Space As PM After Meeting Vishal Sikka

India's ambition to lead in the AI domain gained a boost as PM Modi met Vishal Sikka, former Infosys CEO, for an in-depth discussion on the technology's transformative potential. Modi reiterated India’s commitment to harnessing AI for innovation and empowering its youth.

This meeting follows his recent dialogue with Aravind Srinivas, CEO of AI search engine Perplexity, underlining a focused push toward AI adoption.

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“Savdhaan Rahe, Satark Rahe”: Blinkit 10-minute ambulance service: Goyal advises firm to follow law of land

Blinkit’s new 10-minute ambulance service pilot in Gurugram has sparked interest, but Commerce Minister Piyush Goyal urged the company to strictly adhere to legal norms.

Accessible via the Blinkit app, the service aims to revolutionize emergency response times. Goyal emphasized the importance of compliance, spotlighting the balance between innovation and regulation in quick commerce.

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“Yahan Ke Hum Sikandar”: Zepto Gearing Up To File Its IPO Draft Papers In March-April

Zepto is sprinting toward a historic milestone, planning to file its IPO draft by March-April, pending NCLT approval for a domicile shift.

With a January 19 board meeting to finalize IPO details and its recent pivot to a marketplace model, the quick commerce unicorn is eyeing a bold expansion. Already in 35 cities with 650 dark stores, Zepto aims to be India’s first independent quick commerce firm to go public.

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“Waqt Rehte Nikal Jao”: BharatPe Parent Looking To Sell Stake In Unity SFB

BharatPe's parent, Resilient Innovations, is reportedly planning to offload 25% of its 49% stake in Unity Small Finance Bank.

The fintech giant is eyeing a hefty $800 Mn through this deal, signaling a strategic move to unlock capital. With Unity SFB in focus, all eyes are on BharatPe’s next big financial play.

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“Koi Humse Jeet Na Paawe”: D2C Fashion Brand Snitch To Open 10 New Offline Stores In Jan

D2C fashion brand Snitch is kicking off 2025 with a bang, opening 10 new offline stores in January across cities like Bengaluru, Delhi, and Chennai.

CEO Siddharth Dungarwal revealed plans for over 65 more stores this year, aiming to surpass 100 locations. This bold expansion follows its $13.19 Mn Series A funding last year, signaling strong momentum in the D2C fashion space.

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1. OYO has secured INR 550 Cr ($65 Mn) from founder Ritesh Agarwal’s Redsprig Innovation Partners to fuel growth and global expansion. The move aligns with Agarwal’s efforts to boost his stake while driving strategic initiatives and acquisitions.

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