Zomato’s Hasty Retreat, BYJU’S Sorrows, and BluSmart Hits Cash Crunch

Zomato retreats further from global turf as its Dutch arm heads for liquidation, while BYJU'S mess deepens with a lawsuit from its own US unit over a staggering $533 Mn. BluSmart hits a cash crunch, delaying March salaries, and Good Glamm looks to offload MissMalini in what seems like a distress sale. Besides, there’s also Startup Spotlight to savor.

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

“Mujhe Mere Paise De Do”: BYJU’S Alpha Sues Byju Raveendran Over Alleged ‘Misappropriation’ Of $533 Mn

The BYJU’S drama just took a darker turn—its US unit, BYJU’S Alpha, has now sued founder Byju Raveendran and his associates for allegedly misappropriating a whopping $533 million.

The lawsuit follows a US court ruling that backed lenders’ claims of a fraudulent transfer. With allegations of deception and asset concealment, the edtech giant’s fall from grace is getting harder to look away from.

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“Time Rehte Kat Lene Ka”: Eternal Initiates Liquidation Of Zomato Netherlands

Zomato's global retreat continues—this time, it's curtains for Zomato Netherlands. The step-down subsidiary reported zero turnover in FY24, and with a modest net worth of just ₹32 lakh, its parent, Eternal, has decided to initiate liquidation.

With most of its international outposts now shuttered, Zomato seems to be quietly pulling back to home turf.

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“Daal Hi Puri Kaali Hai”: BluSmart Delays Salaries Citing Cash Flow Issues

BluSmart’s electric dreams hit a speed bump—March salaries have reportedly been delayed amid cash flow troubles. Cofounder Anmol Singh Jaggi assured employees via email that dues will be cleared by April end.

But with financial stress piling up, the road ahead looks anything but smooth for the EV cab startup.

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“Khatam Tata Goodbye”: The Good Glamm Group In Talks To Sell MissMalini

The Good Glamm Group is reportedly offloading MissMalini in a distress sale pegged at ₹4 Cr, as financial strain tightens its grip. Creativefuel will snap up the domain and socials, while GGG holds on to the influencer side of the business.

With YouTube channels like Hasley India already under its belt, Creativefuel looks set on becoming a digital media heavyweight.

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1. Mosaic Wellness, the parent of Man Matters and Be Bodywise, has secured $20 Mn from Think Investments at a post-money valuation of $400 Mn. The fresh capital marks a steady step forward in its wellness empire-building.
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2. Creator-led live social app Eloelo has bagged $13.5 Mn in Series B funding to fuel its overseas push. The platform is also doubling down on monetisation as it eyes new markets beyond India.
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3. Cross-border logistics player Xindus has secured $10 Mn in Series A funding led by 3One4 Capital and Orios. The startup now aims to scale tenfold and push its GMV to $200 Mn in the next 18 months.
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4. Lumikai has led a $1.2 Mn seed round in AI-driven spiritual-tech startup AskMyGuru, betting big on Vedic wisdom for the digital age. The platform blends ancient Shastras with modern AI to offer on-demand spiritual guidance.
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5. Hyderabad’s Bower School of Entrepreneurship has raised ₹11.5 Cr in seed funding led by HNIs and Astir Ventures. The funds will fuel its mission to scale application-based learning and widen its reach across India.
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“Tum Husn Pari, Tum Jaane Jahan”: FAE Beauty Rewrites India’s Beauty Standards

FAE Beauty, the homegrown brand is rewriting India’s beauty standards with inclusivity at its core. Founded by Karishma Kewalramani, a Berkeley grad turned beauty entrepreneur, FAE (Free and Equal) crafts makeup for the real spectrum of Indian skin tones—brown and beautiful.

After impressing the sharks on Shark Tank India and raising crores in funding, FAE is proving that beauty truly belongs to everyone.

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