Swiggy And Zomato Spice Things Up, Blinkit Goes International, SuperGaming Unleashes Its Battle Royale Game and moreNew Post

Foxconn's Chairman Young Liu celebrates a $10 billion investment in India, while Swiggy and Zomato spice things up with new group ordering features. Vivo's Noida plant gains partial occupancy as Blinkit goes international for Raksha Bandhan. Flipkart introduces a new platform fee, SuperGaming unleashes its battle royale game Indus in open beta, and BharatPe ups its stake in Trillion Loans with a fresh $8-9 million infusion.

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What Matters

“Dhandha Se Bada Koi Dharam Nahi Hota”: Foxconn Has Invested $10 Bn In India So Far, Says Chairman Young Liu

Foxconn's Chairman Young Liu is bullish on India's growth, revealing a $10 billion investment so far, with more on the horizon. While Liu highlights the country's rise, he also addresses concerns at their Tamil Nadu plant, emphasizing a commitment to gender-inclusive hiring.

Liu's India visit has been marked by strategic meetings with PM Modi and key state leaders, signaling Foxconn's deepening ties with the nation.

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“Ab Aayega Maza”: After Swiggy, Zomato Rolls Out New Feature For Users To Place Orders In Groups

Zomato's new group ordering feature is now live, following in Swiggy's footsteps, which saw a quick uptake with 6% of weekend orders. Zomato cofounder Deepinder Goyal assures a phased rollout, adding to a series of recent innovations like an all-electric fleet and specialized delivery services.

The competition between the food giants is heating up as they both cater to the social diners.

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“Janhit Mein Jaari”: Vivo Gets Partial Occupancy Certificate For Manufacturing Unit In Noida

Vivo Mobile India has secured a partial occupancy certificate for its massive 62-acre manufacturing unit in Noida's Sector 24A. With plans to churn out 120 million smartphones annually, this project is set to create 38,000 jobs in two phases.

The Noida plant is shaping up to be a game-changer for Vivo and a significant milestone for YEIDA.

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“Badhai Ho”: Blinkit Expands Services To Overseas Markets For Raksha Bandhan

Blinkit is going global this Raksha Bandhan, offering international orders from six countries with a promise of 10-minute delivery in India until August 19. This expansion comes on the heels of a 130% YoY surge in gross order value, reaching INR 4,923 Cr in Q1 FY25.

With plans to scale up its dark stores to 2,000 by 2026, Blinkit is pushing boundaries under Zomato’s profitable wing.

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“Paise Kamane Ki Ninja Technique”: Flipkart Rolls Out INR 3 Platform Fee

Flipkart has introduced a small platform fee of INR 3 on its main ecommerce platform and INR 5 on its quick commerce arm, Flipkart Minutes. This move brings Flipkart in line with competitors like Swiggy Instamart and Blinkit, who already charge similar fees.

Interestingly, the fee doesn't apply to Flipkart Grocery or Cleartrip, keeping essentials and travel bookings fee-free.

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“Besabri Se Intezaar”: SuperGaming Releases Battle Royale Game Indus In Open Beta

SuperGaming's highly anticipated battle royale game, Indus, has officially launched in open beta after amassing over 12 million pre-registrations on Google Play. iOS users can now also join the action, with pre-orders available on the App Store.

To celebrate, SuperGaming is offering a limited-time pre-launch battle pass for just 150 Indus Credits, marking a big step forward for the game unveiled in January 2022 and backed by prominent investors like Bandai Namco and Akatsuki.

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“Karze Se Munafe Tak Ka Safar”: BharatPe’s Second Bet On Trillion Loans, Raises Stake With $8-9 Mn Infusion

BharatPe is doubling down on its investment in Trillion Loans, pumping in an additional $8-9 million to raise its stake to 60%. After acquiring a majority stake last year, the NBFC has turned profitable, reporting a profit of INR 1.05 Cr in FY23, a sharp turnaround from its previous year's loss.

This move strengthens BharatPe's position in the financial services sector as it bets big on Trillion Loans.

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1. FlexiLoans has secured INR 75 Cr in debt funding from JM Financial to fuel its fintech expansion, issuing 7,500 non-convertible debentures at INR 1 Lakh each. The move underscores FlexiLoans' strategic push to scale its financial offerings.

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2. CashKaro, the Ratan Tata-backed coupons and cashback platform, saw its operating revenue soar over 20%, surpassing the INR 300 Cr mark in FY24, according to cofounder Swati Bhargava. The official financials for FY24 are still pending with the Ministry of Corporate Affairs.

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3. Ecom Express, gearing up for its IPO, narrowed its losses by 67% to INR 255.8 Cr in FY24, with a slight revenue bump to INR 2,609 Cr. Despite flat expenses, the logistics startup is eyeing an INR 2,600 Cr IPO, with over half raised through fresh shares.

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