Zerodha’s Fortunes Rise, Thrive Shuts Down, and Bhuvan Bam Launches Peppy

Zerodha's revenue approaches a staggering INR 10,000 Cr, while BSE and NSE penalize Go Digit for delayed data submission. MobiKwik’s IPO oversubscription hits an impressive 119.38X, showing strong investor demand. However, Coca-Cola-backed Thrive shuts its doors, highlighting the tough foodtech landscape. Meanwhile, Swiggy strengthens its leadership by elevating Sidharth Bhakoo to CBO and takes on Zomato’s District with its new Scenes feature. YouTube star Bhuvan Bam dives into the wellness sector with the launch of Peppy, and RBI grants ISG approval as a payment aggregator, signaling growth in fintech.

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

“Kar Chale Alvida”: Coca-Cola Backed Foodtech Startup Thrive Shuts Operations

Foodtech startup Thrive, backed by Coca-Cola, has served its last order, shutting operations due to a resource crunch, as shared by CEO Krishi Fagwani on LinkedIn.

Despite its promising beginnings, the platform couldn't sustain its momentum in the competitive foodtech space. It’s another sobering reminder of the challenges Indian startups face in scaling.

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“Maamla Legal Hai”: BSE & NSE Fine Go Digit For Delay In Furnishing Data

Even insurance tech players aren’t immune to market reprimands—Go Digit faced fines of INR 5,000 each from NSE and BSE for a day’s delay in filing related party transaction data in the required “XBRL” format.

While the company swiftly reported its financials post-board meeting, this minor misstep didn’t go unnoticed. The market seemed to echo the sentiment, with Go Digit’s shares dipping 1.9% to close at INR 324.50 on Friday.

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“Waah, Kya Scene Hai”: Zerodha’s Revenue Nears INR 10,000 Cr Mark

Zerodha’s financial performance continues to impress, with consolidated revenue reaching INR 9,372.1 Cr in FY24, a notable 37.16% increase from the previous year.

When factoring in additional income of INR 622.3 Cr, the company’s total income nears the INR 10,000 Cr mark, underscoring its dominance in the stock broking sector. This growth, however, also raises questions about the sustainability of such rapid expansion in a volatile financial market.

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“Sab Bahut Utsahit Hai”: MobiKwik IPO Closes With 119.38X Oversubscription

MobiKwik’s IPO turned into a frenzy, with investors oversubscribing by a staggering 119.38 times, bidding for 141.72 Cr shares against the mere 1.18 Cr on offer.

This makes it one of the most sought-after public issues among new-age tech companies. Clearly, the market has high hopes for this fintech giant's next chapter.

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“Mubarak Ho, Aapki Selection Ho Gayi”: Swiggy Elevates Sidharth Bhakoo To CBO For Food Marketplace

Swiggy has promoted Sidharth Bhakoo to Chief Business Officer for its Food Marketplace, recognizing his six-year journey of impactful leadership.

Previously serving as VP and National Business Head, Bhakoo has climbed the ranks since joining in 2018. His elevation reflects Swiggy’s focus on bolstering leadership for its core business.

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“Ab Aayega Maza”: Swiggy launches Scenes, takes on Zomato’s District

Swiggy is turning up the entertainment factor with its new feature, Scenes, letting users book tickets for events, shows, and parties directly within its app.

The move is a direct challenge to Zomato’s standalone District app, heating up competition beyond food delivery. With this unified approach, Swiggy seems eager to become your one-stop lifestyle app.

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“Khel Khel Mein”: YouTube star Bhuvan Bam launches sexual wellness brand Peppy

YouTube sensation Bhuvan Bam has ventured into the sexual wellness space, co-founding and investing in D2C brand Peppy.

Launched in 2023 by Devansh Agarwal and Shyamal Gupta, Peppy offers personal massagers, candles, and lubricants catering to both men and women. With Bam’s star power, the brand aims to destigmatize conversations around intimacy in India.

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“Learnin’ To Fly”: RBI approves ISG to operate as payment aggregator

JP Morgan-backed fintech In-Solutions Global (ISG) has scored a big win, earning RBI approval to operate as a payment aggregator.

This move strengthens ISG’s position in transaction processing, aligning with the central bank’s stringent regulatory framework. It’s a significant step forward for the fintech in India’s booming digital payments landscape.

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1. Infosys is investing INR 8.3 Cr in oncology-focused healthtech startup 4baseCare, acquiring a minority stake through its Infosys Innovation Fund. This marks a strategic move to support innovation in cancer care technology.

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2. Regional OTT platform Stage has secured $10 million in its Series B round, led by Goodwater Capital with participation from Blume Ventures. The funding will help the platform expand its focus on regional language content in India.

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3. IPO advisory firm Makia Capital has launched its first venture capital fund, focusing on pre-and-post IPO opportunities in SMEs. The Sebi-registered category-I AIF will also explore select investments in public markets.

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4. EV startup VOICE has raised ₹5 crore in seed funding led by BizDateUp to expand its eco-friendly transportation solutions. The funding will support the deployment of 2,500 electric vehicles, targeting last-mile delivery in Tier 2 cities across India.
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5. Snapmint, the no-cost EMI platform, has raised $18 million in a debt and equity funding round led by Prashasta Seth of Prudent Investment Managers. The funds will help expand its merchant network, driving growth in the consumer financing space.
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6. Mumbai-based rooftop solar company SolarSquare has raised $40 million in a Series B round led by Lightspeed, with participation from Lightrock and other investors. The funds will fuel the company's expansion to over 50 cities across India, up from its current 20.
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7. Kenro Capital has made its first investment by backing K12 Techno Services with $40 million (Rs 339 crore) to support the education service provider's growth. This marks a significant move for the growth-stage venture capital firm into the education sector.
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8. US-based AI agent startup RapidCanvas has secured $16 million in a Series A round led by Peak XV Partners to tackle the technical talent shortage. The funding round also saw participation from Titanium Ventures and existing investors like Accel and Valley Capital Partners.
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9. Fibroheal Woundcare has raised Rs 6.3 crore in a pre-Series A round from existing promoters and new investors, including leading surgeons and medical professionals. The company also secured an additional commitment of Rs 10 crore from its current and new investors.
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