Swiggy Instamart Glitches, Nazara’s Datawrkz Expands, CoinDCX Goes Decentral

Zaggle takes a step forward by allotting 2.29 lakh equity shares under its ESOP plan, signaling its commitment to employee ownership. Meanwhile, Meesho narrows its adjusted losses by 97% to INR 53 Cr, showcasing resilience in a challenging market, while Ninjacart celebrates a remarkable 74% revenue jump to INR 2,002 Cr. However, Swiggy Instamart faces turbulence with app glitches just a week before going public.

On a different note, Niyo tightens its belt, cutting losses to INR 143.47 Cr despite a 28.6% decline in revenue. CoinDCX empowers users with a new feature for enhanced control over their crypto assets, as Nazara’s Datawrkz expands its reach by acquiring UK’s Space & Time agency. Lastly, Navi Finserv receives a green light to disburse previously sanctioned loans, offering relief to homebuyers amid regulatory scrutiny.

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

“Tumhe Toh Phaansi Honi Chahiye”: Swiggy Instamart Glitches A Week Before Going Public

Just a week before its IPO, Swiggy Instamart faced a tech hiccup that kept users waiting, triggering social media buzz over delayed orders and unresponsive payments.

While the app resumed by 12:15 AM on October 30, delivery executives reported issues with order scanning and payments, adding to the chaos. With timing this critical, Swiggy will need all hands on deck to iron out these glitches and restore user confidence before going public.

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“Soch Samajh Ke Kadam Lena Hai”: CoinDCX Unveils Feature For Users To Access Control Over Crypto Assets

In a security-first move, CoinDCX has introduced a feature that lets users hold their crypto assets directly on the blockchain, sidestepping risks tied to centralized custody.

This timely option comes as crypto enthusiasts voice concerns over asset security, especially after WazirX’s recent data breach costing users $235 million. With this shift, CoinDCX aims to empower users with more control and peace of mind in a high-stakes crypto landscape.

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“Kaddu Katega, Sab Mein Batega”: Zaggle Allots 2.29 Lakh Equity Shares Under ESOP Plan

Zaggle’s latest move signals a meaningful step in employee reward; the Mumbai-based startup has granted nearly 2.29 lakh equity shares under its 2022 ESOP plan.

This board-approved allotment reflects Zaggle’s commitment to shared growth, offering eligible employees a deeper stake in the company’s future. As it navigates its growth phase, Zaggle’s focus on employee retention through equity signals its prioritization of long-term value over quick gains.

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“Kaafi Phaila Hua Dhandha Hai”: Moneyview’s FY24 Revenue Jumps 75% To INR 1,012 Cr

Bengaluru-based Moneyview is making impressive strides, reporting a 75% surge in revenue to reach INR 1,012 Cr for FY24—a big leap from last year’s INR 576.75 Cr.

Despite this revenue hike, profit growth remained modest at 5.2%, landing at INR 171.15 Cr, as expenses rose sharply due to higher employee benefits and finance costs. This year’s performance shows both the promise and pressures of scaling up in the competitive fintech space.

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“Badi Mushkil, Badi Mushkil”: Meesho’s Adjusted Loss Narrows 97% To INR 53 Cr In FY24

Meesho’s financial turnaround is striking, with adjusted losses narrowing by 97% to just INR 53 Cr in FY24, down from a hefty INR 1,569 Cr last year.

This leap towards profitability, shared in the company’s latest blog, doesn’t even factor in employee share-based compensation. It’s a clear signal that Meesho is tightening its sails and edging closer to sustainable growth in the competitive e-commerce arena.

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“Abhi Hum Zinda Hai”: Ninjacart’s Revenue Jumps 74% To INR 2,002 Cr In FY24

Ninjacart’s revenue sprinted up by 74% in FY24, hitting INR 2,002 Cr as it sharpened its operations and drove up volumes.

The agritech startup also cut its net loss by 20% to INR 259.6 Cr, thanks to cost-saving strategies and AI-powered waste reduction in its fulfillment process. This year’s results hint at Ninjacart’s balanced growth approach, combining tech-savvy efficiency with bold revenue goals.

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“Strategy Badalne Ki Sakht Zarurat”: Niyo Narrows Losses To INR 143.47 Cr, Revenue Declines 28.6% In FY24

Niyo made headway in FY24, trimming its net loss by nearly 19% to INR 143.47 Cr, thanks to a 20.3% cut in expenses.

Despite the savings, revenue dropped 28.6%, reflecting the challenges the digital banking player faces amid a shifting market. Founded by Vinay Bagri and Virender Bisht, Niyo is clearly tightening its strategy to adapt while continuing to offer its tailored banking solutions.

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“Jaan Chhuti Laakho Paaye”: Navi Finserv Allowed To Make Loan Disbursals Sanctioned Before Oct 20

In a relief for homebuyers, Navi Finserv has been allowed to disburse loans sanctioned before October 20, following the RBI’s recent restrictions on new loan approvals.

The move offers timely support to existing borrowers after the central bank halted fresh loan sanctions due to “material supervisory concerns.”

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“Ab Aayega Maza”: Nazara Arm Datawrkz Buys UK’s Growth Marketing Agency Space & Time

Nazara’s subsidiary, Datawrkz, has taken a bold step into Europe with its acquisition of UK-based growth marketing agency Space & Time for INR 52.3 Cr in cash and stock.

This 100% buyout aligns with Datawrkz's ambitions to expand across Europe and North America, leveraging Space & Time’s expertise. Since Nazara’s acquisition of Datawrkz in early 2022, this marks another move in the gaming giant’s global growth playbook.

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1. Vietnam's oolmate, a D2C men’s apparel brand, has successfully raised $6 million in Series B funding led by Vertex Ventures Southeast Asia & India. This investment will fuel the brand's international growth, enhance product innovation, and expand its omnichannel retail presence across Southeast Asia.

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