Rejigs at Prosus, Zomato’s New Wellness Feature, SEBI’s Stand on Crypto Trading

From top-level shuffles at Prosus and Nasper, to Zomato's innovative wellness feature. Meanwhile, regulatory ripples abound as SEBI takes a stance on crypto trading, while Mizuho eyes a stake in InCred Finance. Amidst IPO explorations and executive exits, Delhivery sets its sights high with drone manufacturing, while Zoho makes waves with a $700 million investment in semiconductor innovation.

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

What Matters

“Badhaai Ho Badhaai”: Prosus, Parent Nasper Rope In Former iFood Executive Fabricio Bloisi As CEO

Exciting news from Prosus and Naspers as they welcome Fabricio Bloisi, former iFood executive, as the new CEO and executive director starting July 1. This move comes after Bob van Dijk's resignation last September.

With a portfolio that includes big names like BYJU’S, Swiggy, and OLX in India, Bloisi's leadership is set to drive new growth and innovation.

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“Chai Piyo, Biskut Khaao”: Zomato’s New Feature Allows Its Users To Make Healthier Choices

Zomato’s latest feature is here to help you make healthier choices when ordering food, so you can skip the regret and savor the goodness.

This comes right after they increased their platform fee to INR 5 per order. Plus, Zomato is on a roll, celebrating its fourth consecutive profitable quarter in May.

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“Cancel Cancel Cancel”: SEBI Recommends Oversight Of Crypto Trading, But RBI Still Sees ‘Risk’

SEBI suggests a team effort for crypto oversight, with different regulators managing specific activities, avoiding a single regulator for all digital assets. Meanwhile, the RBI is still wary, pushing for a ban on stablecoins to avoid volatility.

Remember the 2021 bill aiming to ban private cryptocurrencies? It’s still waiting in the wings.

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“Zara Dil Ko Thaam Lo”: Mizuho Eyes KKR’s Part Stake In InCred Finance

Mizuho is eyeing a slice of KKR’s stake in Mumbai's InCred Finance, potentially grabbing a 10% share at a 30-40% premium over last year's $1.2 billion valuation.

The buzz doesn’t stop there; new investors are also circling for a stake in InCred over the next couple of years.

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“SEBI Ki Mahima, SEBI Hi Jaane”: SEBI Bans Varanium Cloud, Promoter From Capital Market Over Misuse Of IPO Proceeds

SEBI has slammed the brakes on Varanium Cloud and its promoter, banning them from the capital market for misusing IPO proceeds.

This tech company, known for its digital streaming and blockchain services, got caught cooking the books with fake sales and purchases, sparking a misleading investor frenzy.

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“Sahi Waqt Ki Baat Hai”: Exploring Right Time For Flipkart IPO: Walmart International CEO

Walmart International CEO Kath McLay is on the lookout for the perfect timing to launch Flipkart's IPO, riding high on the back of two consecutive EBITDA-positive quarters and robust growth.

Despite a net loss of INR 4,026 crore in FY23, Flipkart's operating revenue soared by 42% to INR 14,845.8 crore.

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“Aap Ja Sakte Hain”: After CEO, Ola CFO Kartik Gupta steps down

In a sweeping restructuring move aimed at boosting productivity in the AI-driven cab-hailing world, Ola Mobility's CFO Kartik Gupta has followed the CEO in stepping down.

This shake-up marks a significant shift as Ola gears up to navigate and redefine the industry's future.

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“Spread Your Wings And Fly Away”: Delhivery To Set Up Subsidiary To Manufacture Drones

Delhivery is spreading its wings with a new subsidiary, Delhivery Robotics India, set to manufacture drones and offer freight air transportation services. As part of this strategic pivot, Delhivery is liquidating its UK-based subsidiary, Delhivery Corp Ltd.

The logistics giant also celebrated turning profitable in Q3 FY24, posting a profit after tax of INR 11.7 crore.

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“Thalaivaa Of Semiconductor Industry”: Zoho Eyes Semiconductor Foray, Plans $700 Mn Investment To Set Up Chip Fabrication Unit

Zoho is diving into the semiconductor world with a bold $700 million investment to establish a chip fabrication plant in India. The SaaS powerhouse aims to produce compound semiconductors and has already partnered with a tech firm to kickstart the project.

This follows cofounder Sridhar Vembu's March announcement of a semiconductor design venture in Tamil Nadu's Tenkasi district.

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1. In a significant stride, fintech startup Propelld secures $25 million in debut debt funding for its NBFC, Edgro Finance, marking a promising start for their education-focused financial services.

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2. OTPless, the authentication and access management platform, secures $3.5 million in pre-Series A funding, with SIDBI leading the round and support from Venture Highway, FJ Labs, and Piper Serica.

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3. 3SC, the supply chain planning and logistics startup, fortifies its operations with a $4 million investment from GEF Capital's South Asia Growth Fund, enhancing its capacity to optimize and streamline supply chain processes.

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