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Humble Bean founders open Fast Coffee in Koramangala, plans expansion by 2025

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Shweta
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Humble Bean founders open Fast Coffee in Koramangala, plans expansion by 2025

Fast Coffee, a new initiative by the founders of Humble Bean, has opened its flagship outlet in Koramangala, Bangalore. 

The store aims to make responsible coffee accessible while bridging the gap between consumers and coffee producers. Built on the principles of fair and sustainable trade, Fast Coffee offers high-quality coffee rooted in sustainability.

Continue Exploring: L’Oréal India’s net income plummets to INR 487.46 Cr, revenue surges 12%

With Fast, we want to make coffee good for earth – Soomanna

Further, the menu at Fast Coffee combines global influences with local preferences, presenting a range of beverages and food options. Priced at an average of INR 600 for two, the offerings cater to a wide audience while maintaining affordability. At the launch, Co-Founder Soomanna said, “Every time you sip on your favorite brew, you’re taking part in a web of human connections that delivered that cup of coffee into your hands. With Fast, we want to make coffee that’s not just good to drink but good for the earth.”

Five outlets by 2025

However, the brand’s vision for sustainability extends beyond reusable cups and eco-friendly materials, aiming for deeper systemic changes in the coffee value chain. Fast Coffee plans to expand further, with five more outlets set to open in Bangalore by late 2025. Puja, Co-Founder added, “Fast’s tagline, Fearless, Authentic, Sustainable Together, reflects the mindset of a generation ready to embrace change and make responsible choices.”

Continue Exploring: Swiggy’s market value climbs to $14.9 Bn as shares reach all-time high

Designed for young professionals, students, and creative individuals, Fast Coffee caters to a modern, fast-paced audience passionate about sustainability and quality coffee. With its focus on responsible consumption and community, the Koramangala outlet sets the stage for a broader movement within India’s coffee culture. Fast Coffee’s flagship store invites customers to experience a space where coffee, sustainability, and community intersect.

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HyFun Foods enters Australian market with Woolworths collaboration

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Ashutosh Dubey
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HyFun Foods enters Australian market with Woolworths collaboration

HyFun Foods, a leading player in the frozen food industry, has partnered with Woolworths, Australia’s largest retail chain.

HyFun Foods on 1000 Woolworths stores

This collaboration will introduce HyFun’s hash browns to over 1,000 Woolworths stores, marking a significant step in its international expansion.

Continue Exploring: D2C kitchenware startup The Indus Valley to bag INR 23 Cr in Pre-Series round 

Under the “Your Spud Co” label, HyFun will offer its popular hash browns and tots to Australian consumers. This initiative builds on the brand’s global strategy of meeting the demand for high-quality frozen food options. Kamlesh Karamchandani, Executive Director of HyFun Foods said, “Our partnership with Woolworths is an exciting opportunity to bring HyFun Foods’ premium products to Australian households under the Your Spud Co brand.”

HyFun Foods partners with Walmart USA

This partnership follows HyFun Foods’ successful collaboration with Walmart USA, which positioned the company as a reliable partner for large-scale global retail operations. With a strong presence in the American market, HyFun Foods is now leveraging its expertise to replicate that success in Australia.

Continue Exploring: Swiggy Instamart reports INR 490 Cr revenue in Q2 FY25, achieves 135% growth

Joshua Biggs, Managing Director of Your Spud Co said, “We, at Your Spud Co, have had the privilege of working closely with HyFun to launch and pioneer Indian potatoes and frozen products into the Australian market.” The collaboration with HyFun has enabled Your Spud Co to meet the growing demand for quality potato products in Australia and solidify its reputation in the industry.

Australia’s frozen food market continues to grow, driven by increasing per capita consumption and demand for convenient food solutions. By leveraging Woolworths’ extensive retail network, HyFun Foods is positioned to meet this demand effectively.

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Crown Basmati Rice, Shryoan Cosmetics enhance market reach via Zepto

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Online Desk
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Crown Basmati Rice, Shryoan Cosmetics enhance market reach via Zepto

The growing quick-commerce market in India is seeing notable participation from brands like Crown Basmati Rice and Shryoan Cosmetics. These brands are leveraging platforms like Zepto, Blinkit, and Swiggy Instamart to enhance their reach and cater to consumer demand for convenience.

Crown Basmati Rice closer to our customers via Q-comm – DRRK Foods

Crown Basmati Rice, the flagship brand of DRRK Foods, is now available on Zepto, Blinkit, and Swiggy Instamart. The brand plans to extend its reach to cities like Chennai, Lucknow, and Chandigarh. Vikram Marwaha, Joint Managing Director, DRRK Foods said, “We are excited to bring Crown Basmati Rice closer to our customers through Zepto, Blinkit, and Swiggy Instamart. This partnership reflects our commitment to providing premium-quality basmati rice with the convenience that today’s fast-paced lifestyles demand.”

Continue Exploring: Swiggy’s market value climbs to $14.9 Bn as shares reach all-time high

The rise of quick-commerce platforms has enabled Crown Basmati Rice to offer its premium products with near-instant delivery, fulfilling customer needs for quality and convenience. Shryoan Cosmetics, a leading name in the beauty retail industry, has partnered with Zepto to provide instant access to its products across major cities. The partnership allows customers to shop for a range of beauty products with the ease of quick-commerce delivery.

Himanshu Madnani, Co-Founder of Shryoan Cosmetics said, “At Shryoan, we focus on offering our customers the finest products and an ideal shopping experience. By partnering with Zepto, we can meet the ever-increasing expectations of customers by making their favorite cosmetics available when they want them.” Both Crown Basmati Rice and Shryoan Cosmetics are tapping into the quick-commerce model to address evolving consumer preferences in India’s retail sector.

Continue Exploring: Moody’s elevates OYO’s rating to B2, citing strong profitability and growth

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Swiggy’s market value climbs to $14.9 Bn as shares reach all-time high

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Online Desk
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Swiggy's market value climbs to $14.9 Bn as shares reach all-time high

Shares of food tech giant Swiggy surged as much as 11.35% during intraday trading to reach an all-time high of INR 576.95 on the BSE.

Swiggy stock surges 11.35%, reaching fresh 52-week high

This marks a fresh 52-week high for the stock. The stock has been witnessing a bull run lately, with its last four trading sessions ending in the green.

Continue Exploring: CHUK takes Ayodhya’s compostable packaging solutions to the global stage

Reportedly, the company’s market capitalization stood at 1,26,472 Cr ($14.9 Bn) by 11:30 PM, with as many as 26.6 Cr Swiggy shares traded hands by then. The recent uptick in share price is attributed to Swiggy’s robust September quarter results.

Swiggy narrows net loss to INR 625 Cr

Meanwhile, Swiggy narrowed its consolidated net loss by 4.78% year-on-year to INR 625.53 Cr in Q2 FY25. Its quick commerce business wing, Swiggy Instamart, saw its operating revenue surge 135.7% to INR 490 Cr in Q2 FY25 from INR 208 Cr in the year-ago period.

Continue Exploring: HCCB unveils new Greenfield factory in Telangana with seven advanced production lines

On the adjusted EBITDA level, the company expects its business to achieve adjusted EBITDA profitability on a consolidated level in the third quarter of the financial year 2025-26 (FY26). It also anticipates achieving adjusted EBITDA break-even for its quick commerce business by the second quarter of FY27 (July-September 2026).

Further, the foodtech giant entered the bourses on November 8 with its shares listing at INR 412, an 8% premium over the IPO issue price. Notably, its stock has witnessed an upsurge of 25.75% at the previous close mark since listing.

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Moody’s elevates OYO’s rating to B2, citing strong profitability and growth

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Online Desk
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Moody's elevates OYO's rating to B2, citing strong profitability and growth

Global rating agency Moody’s has upgraded the corporate family rating of OYO‘s parent, Oravel Stays Limited, to “B2” from “B3” previously. 

The rating agency has maintained a stable outlook for the travel tech major, which has shown significant improvement in its financial performance in recent quarters.

According to Sweta Patodia, assistant vice-president and analyst at Moody’s, the upgrade is attributed to OYO’s improved profitability in recent quarters. She added that the positive numbers have significantly strengthened the startup’s credit metrics.

Continue Exploring: D2C kitchenware startup The Indus Valley to bag INR 23 Cr in Pre-Series round 

OYO finalises $825 Mn term loan with five-year tenure

The development comes as OYO is finalizing a new $825 million term loan with a five-year tenure. A significant portion of these funds, along with the $174 million raised by OYO between June and August this year, will be utilized to repay existing loans that mature in June 2026.

Moody’s expects OYO’s earnings to further increase upon the successful integration of G6 Hospitality, a US-based hospitality company. The rating agency also said that OYO’s acquisition of French rental homes company Checkmyguest (CMG) in July this year will pave the way for the improvement in the earnings before interest, tax, depreciation, and amortization (EBITDA) to around $134 million in the fiscal year 2024-25.

Overall, Moody’s reportedly said that “sustained improvement in operating performance” resulted in OYO generating $56 million in EBITDA in the first half of FY25. The upgrade from Moody’s comes at a time when OYO has been aggressively expanding its global footprint, bolstering operations in the country, and launching a spree of new offerings.

Continue Exploring: Shareholders block Gautam Singhania’s appointment as Raymond Lifestyle chairperson!

OYO registers profit of INR 229 Cr

Reportedly, the hospitality giant offers integrated solutions to over 1.5 lakh hotel and home storefronts in more than 35 countries, including India, Europe, and Southeast Asia. Boosted by the post-pandemic travel surge, OYO became profitable in FY24, recording a net profit of INR 229.5 Cr compared to a net loss of INR 1,286.5 Cr in FY23. Despite this, their revenue from operations slightly declined by 1.3% to INR 5,388.7 Cr in FY24 from INR 5,463.9 Cr in FY23. Ritesh Agarwal, the founder, recently stated that the company aims to triple its net profit to INR 700 Cr in FY25.

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D2C kitchenware startup The Indus Valley to bag INR 23 Cr in Pre-Series round 

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Online Desk
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D2C kitchenware startup The Indus Valley to bag INR 23 Cr in Pre-Series round 

The Indus Valley, a D2C kitchenware startup, is all set to secure INR 23.1 Cr in its Pre-Series A funding round led by existing investor DSG Consumer Partners. 

The funding round will also see participation from White Whale Partners, Rukam Capital, and some angel investors.

Kitchenware issues 41,485 CCPS at INR 5,580 each

Reportedly, the startup’s shareholders passed a resolution to issue 41,485 compulsory convertible preference shares (CCPS) at an issue price of INR 5,580.4 each. DSG Consumer Partners will invest INR 12.5 Cr in the startup, while Rukam Capital will invest INR 3 Cr.

Continue Exploring: WickedGud bags INR 20 Cr in funding led by Orios Venture Partners

Established in 2016 by Madhumitha Udaykumar and Jagadeesh Kumar, The Indus Valley sells non-toxic cookware made from chemical-free materials like iron and cast iron, stainless steel, wood, and clay. The startup claims to have a customer base of 10 Lakh customers across over 10,000 pin codes and offers over 250 SKUs, including a wide range of pots and pans, woks, griddles, cookers, and more.

Including the latest fundraise, the startup has raised a total funding of about INR 51 Cr till date. The development comes at a time when India’s kitchen-focused startups are seeing a lot of interest from investors. The size of the cloud kitchen market is expected to cross the $3 Bn mark by FY31.

Zomato acquires 8% stake in Byondnxt

The Indus Valley’s funding round is the latest in a series of investments in kitchen-focused startups. Recently, Bengaluru-based smart kitchen startup Beyond Appliances raised INR 16.8 Cr in a seed funding round. Foodtech major Zomato also picked an 8% stake in kitchen appliances maker Byondnxt.

Continue Exploring: Loopworm’s insect-based nutrition gains EU approval, expands global reach

In recent years, foodtech platforms like Zomato and Swiggy have driven the growth of cloud kitchen startups in India. The cloud kitchen market is expected to surpass $3 billion by FY31. Swiggy recently launched a service to help restaurant partners source kitchen equipment. Earlier this year, Biryani By Kilo raised around $2 million from Pulsar Capital.

In February, Ghost Kitchens India secured $5 million in a Series A funding round led by GVFL, with support from NB Ventures, LetsVenture, and Lead Angels. Following this, Ghost Kitchens acquired Ahmedabad-based cloud kitchen startup The Shy Tiger in an all-cash deal.

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Swiggy Instamart reports INR 490 Cr revenue in Q2 FY25, achieves 135% growth

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Online Desk
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Swiggy Instamart
Swiggy Instamart reports INR 490 Cr revenue in Q2 FY25, achieves 135% growth

Swiggy‘s quick commerce business, Instamart, has reported a significant surge in operating revenue, growing 135.7% to INR 490 crore in the quarter ended September 2024 (Q2 FY25).

Instamart nets revenue INR 208 Cr in q2 FY24

The company reported INR 208 crore in the year-ago period. Sequentially, the revenue grew 31% from INR 374 crore.

Continue Exploring: Swiggy ventures into sports & entertainment with ownership and operations plans

Reportedly, the adjusted revenue of Instamart more than doubled to INR 513 crore during the quarter under review from INR 240 crore in Q2 FY24. On a quarter-on-quarter (QoQ) basis, it grew 67.9% from INR 403 crore.

According to Swiggy’s shareholder letter, Instamart is rapidly growing its geographical footprint and is now available in 54 cities, compared to 27 cities in March 2024. The company aims to double its store count by March 2025 from 523 stores in March 2024.

“We are replacing some of our older, small-format stores (2,500-2,800 sq ft) with larger stores (3,500-4,500 sq ft) that can house up to 20K SKUs,” the company said. It is also rolling out ‘megapods’ (8,000-10,000 sq ft) in top cities, which can house over 50K SKUs.

“These megapods will serve consumers in 10 to 30 minutes with an extended selection of items beyond the top 20K SKUs,” the company explained. The service is already available for select consumers in Bengaluru.

Continue Exploring: Swiggy registers INR 625.53 Cr net loss, revenue rises 30% in Q2 FY25

Instamart’s contribution margin improved to -1.9% – CEO, Swiggy

Swiggy founder and CEO Sriharsha Majety said that despite growth investments and rising competitive intensity, Instamart’s contribution margin improved to -1.9% in Q2 FY25. The company expects Instamart to achieve contribution break-even by Q3 FY26 (October-December 2025) and adjusted EBITDA break-even by Q2 FY27 (July-September 2026).

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Swiggy ventures into sports & entertainment with ownership and operations plans

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Online Desk
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Swiggy Sports
Swiggy ventures into sports & entertainment with ownership and operations plans

Swiggy, a leading foodtech company, is setting up a new wholly-owned subsidiary that will operate in the sports and recreation activities segment. 

The company’s board has approved the incorporation of the new subsidiary, which will engage in various activities such as sports team ownership, management, talent development, event organization, and facility operation.

Continue Exploring: Swiggy registers INR 625.53 Cr net loss, revenue rises 30% in Q2 FY25

Acquiring broadcasting, sponsorship rights – Swiggy

“The main objects of the newly to be incorporated entity will include engaging in sports team ownership, management, talent development, event organisation, and facility operation, offering career services, acquiring broadcasting and sponsorship rights, and promoting sports events through various business models etc,” the company said in an exchange filing.

In addition to setting up the new subsidiary, Swiggy’s board has also approved an investment of up to INR 1,600 crore in its wholly-owned subsidiary Scootsy Logistics. Out of the total investment, INR 1,350 crore will be allocated from Swiggy’s IPO proceeds to fuel the growth and expansion of Instamart.

“This investment is part of the proceeds as specified in IPO prospectus dated November 8, 2024 for expansion of dark store network for quick commerce through setting up of dark stores,” the filing said.

Continue Exploring: Zomato offers 47.75 Cr equity shares to Foodie Bay ESOP Trust for employees

Swiggy’s Scootsy reports revenue of INR 5,196 Cr

The remaining INR 250 crore will be directed towards addressing Scootsy‘s immediate working capital needs. Scootsy reported a revenue of INR 5,195.7 crore in the financial year ended March 2024.

Swiggy also released its financial results for the second quarter of the financial year 2024-25, reporting a net loss of INR 625.53 crore, which is a 4.78% decrease from the same quarter last year. The company’s operating revenue zoomed 30% to INR 3,601.45 crore.

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Swiggy registers INR 625.53 Cr net loss, revenue rises 30% in Q2 FY25

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Online Desk
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Swiggy CEO
Swiggy registers INR 625.53 Cr net loss, revenue rises 30% in Q2 FY25

Swiggy, a leading foodtech company, has reported a consolidated net loss of INR 625.53 crore in the September quarter (Q2) of the financial year 2024-25 (FY25). 

This represents a 4.78% decrease from the INR 657 crore loss reported in the same quarter last year. On a sequential basis, the loss increased by 2.32% from INR 611 crore.

Continue Exploring: Shareholders block Gautam Singhania’s appointment as Raymond Lifestyle chairperson!

Sequential wise, revenue rises 12%

Reportedly, the company’s operating revenue, however, saw a significant increase of 30% to INR 3,601.45 crore during the quarter, compared to INR 2,763.33 crore in the same quarter last year. On a sequential basis, the revenue rose by 12% from INR 3,222.21 crore.

However, the food tech major’s consolidated adjusted EBITDA loss declined by 30% year-on-year (YoY) to INR 341 crore in Q2 FY25. The company’s overall gross order value (GOV) grew by 30% YoY to INR 11,306 crore during the quarter. Swiggy’s monthly transacting users (MTU) across its food delivery service, quick commerce arm Swiggy Instamart, and its out-of-home consumption vertical grew by 19.2% YoY to 1.71 million.

Best quarters so far with strong growth in GOV – Swiggy

“At the platform level, we’ve seen one of our best quarters so far with strong growth in GOV, while consistently reducing the losses. With well-spread-out businesses in different stages of profitability, we’re excited by the value Swiggy will be able to bring to consumers, our ecosystem, and shareholders,” the company said in a statement.

Continue Exploring: Zomato offers 47.75 Cr equity shares to Foodie Bay ESOP Trust for employees

Swiggy’s expenses jumped by 20% to INR 4,309.55 crore in Q2 FY25 from INR 3,596.63 crore in Q2 FY24. Sequentially, the expenses rose by 10% from INR 3,907.96 crore.

“This business is witnessing a heightened degree of competitive action. This means that we will need to be agile and responsive to the market movements and modulate our investments towards long-term health of the business for sustainable GOV growth. Our investments (including marketing spends) will be aimed at driving user growth, frequency, and wallet share with continuous hyper-local and geographical store expansion,” Swiggy CEO Sriharsha Majety said in a shareholder letter.

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Shareholders block Gautam Singhania’s appointment as Raymond Lifestyle chairperson! 

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Online Desk
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Raymond Chairperson
Shareholders block Gautam Singhania's appointment as Raymond Lifestyle chairperson! 

Corporate governance advisory firms are urging shareholders to vote against Gautam Singhania’s proposed appointment as executive chairperson of Raymond Lifestyle Ltd.

IiAS raises remuneration issues

Institutional Investor Advisory Services India (IiAS) has raised concerns over several aspects of the proposal, including Singhania’s remuneration package and the company’s governance practices.

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Singhania, the chairperson and managing director of Raymond Ltd., is seeking reappointment as executive chairperson of Raymond Lifestyle for five years, starting September 1, 2024, with a minimum remuneration commitment for three years. However, the terms of his appointment have raised eyebrows, with a monthly salary ranging between INR 55 lakh to INR 80 lakh, along with allowances for medical reimbursement, leave travel, and retirement benefits, totaling an estimated INR 12.35 crore annually.

IiAS has pointed out that the resolution to appoint Singhania lacks clarity on major issues, such as commission details and performance-linked targets. Furthermore, the proposal does not specify a ceiling limit on Singhania’s total pay, which could exceed 5% of Raymond Lifestyle’s net profit, raising concerns about unchecked salary growth.

Raymond Lifestyle fails to show adequate performance metric

The firm has also expressed concerns about the absence of malus or claw-back clauses and ESG targets tied to performance. Additionally, the company has failed to provide adequate disclosures on the performance metrics required for Singhania to earn the proposed remuneration, making it difficult for shareholders to assess whether the pay is in tune with the company’s performance.

Continue Exploring: Zomato offers 47.75 Cr equity shares to Foodie Bay ESOP Trust for employees

To make matters worse, Singhania is currently engaged in divorce proceedings with his wife, Nawaz Modi, who has accused him of domestic violence and misusing company funds for personal benefits. While the board has not commented on these allegations, IiAS has expressed concerns about the possible impact on the company’s governance and reputation.

Given the lack of clarity on his remuneration, potential conflicts of interest, and unresolved legal matters, IiAS has advised shareholders to reject the resolution and vote against Singhania’s appointment. The advisory firm has stressed that it is crucial for shareholders to protect the company from any governance risks stemming from these issues.

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