slice’s Merger, Tata’s Neu, First Cheque's Pre-Seed Plan

slice is making news by merging with a bank to strengthen its foothold in the Northeast, while Tata’s Neu is gearing up to dive into the quick commerce sector. Meanwhile, First Cheque is on a mission to back a fresh cohort of 15-29 startups, promising new opportunities for innovation.

On the merger front, InsuranceDekho and RenewBuy are inching closer to unicorn status, creating a buzz in the insurance arena. Adding to the excitement, Swiggy has set its IPO price band at INR 371-390, signaling a significant leap into the public market.

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

What Matters

“Bengaluru Se Aaya Mera Dost”: slice Completes Bank Merger To Boost Presence In NE

Bengaluru’s fintech player slice has officially merged with North East Small Finance Bank as of October 27, marking a milestone with all regulatory approvals secured.

This merger is set to strengthen Slice’s presence in the Northeast, aiming to bring a tech-forward banking experience to underserved regions. With its digital-first approach, Slice envisions reshaping regional banking by bridging gaps in access and service for a wider audience across India.

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“Ab Baari Humari”: Tata’s Neu Looks To Ride The Quick Commerce Wave

Tata’s ecommerce venture, Neu, is stepping into the quick commerce game with "Neu Flash," a service set to offer lightning-speed deliveries for groceries, electronics, and fashion.

Leveraging BigBasket for essentials, Croma for gadgets, and Tata Cliq for fashion items, Neu Flash promises a seamless blend of Tata's powerhouse brands. Starting with select items, this move could make Neu a major player in India’s fast-growing, on-demand shopping landscape.

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“Kaddu Katega, Sab Mein Batega”: First Cheque Seeks To Back 15-29 Startups From Third Cohort

Mumbai-based venture firm First Cheque is gearing up to support the next wave of innovation, targeting 15-29 startups in its latest cohort. With an initial investment of around $500,000 per startup, First Cheque continues its commitment to nurturing early-stage ventures in software, AI, and IT.

Known for backing names like Giva and Rocketlane, this move signals an exciting boost for fresh talent over the next 18 months.

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“Hum Saath Saath Hai”: InsuranceDekho, RenewBuy Nearing Merger At Unicorn Tag

InsuranceDekho and RenewBuy are on the brink of merging, setting the stage for a $1 billion combined valuation and putting the new entity in unicorn territory.

With RenewBuy’s worth pegged around INR 3,000 Cr and InsuranceDekho valued at over INR 5,000 Cr, the merger could reshape the Indian insurance landscape. Adding to the momentum, InsuranceDekho is also eyeing a fresh funding round, signaling more growth ahead for the soon-to-be giant.

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“Yahan Ke Hum Sikandar”: Swiggy Sets IPO Price Band At INR 371-390

Swiggy is gearing up for its much-anticipated IPO, setting the price band at INR 371-390 per share, with a top-end valuation of a hefty $11.3 billion.

The IPO will open for public bidding from November 6-8, marking a major milestone for the food delivery giant. With this move, Swiggy is set to make a significant splash on the market, fueling excitement among investors and the tech community alike.

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1. Udaan has raised INR 300 Cr in debt from Lighthouse Canton and others to power its micro-market expansion strategy. This funding aims to strengthen Udaan's position as a go-to partner for kirana stores and small businesses across India.

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2. Agritech startup Arya.ag has secured a $19.8 million debt commitment from the U.S. International Development Finance Corporation (DFC). This funding will support Arya.ag's grain commerce subsidiary, Aryatech, in scaling its agri-commerce platform.

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3. Flipkart Internet saw a 21% revenue boost in FY24, reaching INR 17,907.3 Cr, while managing to cut its losses by 41% to INR 2,358 Cr. The growth signals a promising stride towards profitability for the ecommerce giant.

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4. CarTrade shares surged over 8% after impressive Q2 results, showcasing a 509% jump in net profit and a 28.4% increase in revenue. By day’s end, shares closed up 6.14% at INR 1,043, boosting the company's market cap to INR 4,933.40 Cr.

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