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Yatra Online Brings Back Anuj Kumar Sethi as Interim CFO After Rohan Mittal’s Exit; Leadership Transition Ensures Compliance with Companies Act

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Yatra Online Brings Back Anuj Kumar Sethi as Interim CFO After Rohan Mittal’s Exit; Leadership Transition Ensures Compliance with Companies Act

Yatra Online Ltd. has brought back a familiar face to steer its finance team—Anuj Kumar Sethi will step in as the interim Chief Financial Officer following the exit of Rohan Purshottamdas Mittal, whose tenure officially ended on April 10, 2025.

Mittal, in his resignation letter, cited personal reasons for his departure, stating his intent to pursue new opportunities outside the company. His exit prompted Yatra’s leadership to act swiftly in naming a temporary replacement while the search for a permanent CFO continues.

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Sethi isn’t new to the role or the company. A seasoned finance professional and cost accountant, he previously served as Yatra’s CFO and spent over ten years managing finance and accounting operations there. Prior to his time at Yatra, he held key roles at Airfreight Ltd., building a solid background in financial management.

His return is seen as a stabilizing move, with his deep knowledge of Yatra’s financial systems and structure expected to ensure continuity during the leadership change. The appointment also ensures Yatra remains in compliance with Section 203 of the Companies Act, 2013, which mandates key managerial positions be filled.

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Sethi’s interim role was approved by both the Nomination and Remuneration Committee and the Audit Committee, giving him the green light to take over effective immediately.

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Flipkart’s Manjari Singhal Takes the Wheel at Cleartrip as Chief Growth & Business Officer, Replacing Anuj Rathi

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Flipkart’s Manjari Singhal Takes the Wheel at Cleartrip as Chief Growth & Business Officer, Replacing Anuj Rathi

Cleartrip is set for a leadership shuffle as Manjari Singhal takes over the reins as Chief Growth and Business Officer, replacing Anuj Rathi, who has decided to move on after a strong run. The announcement comes at a time when Flipkart—Cleartrip’s parent company—is putting sharper focus on its travel business, viewing it as a key engine for growth.

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Singhal’s mandate is clear: drive business strategy, marketing, user experience, and overall growth. Over the next few weeks, she’ll be transitioning into the role with guidance from Rathi, ensuring a smooth baton pass.

Singhal is no stranger to Flipkart’s inner workings. Since joining in 2019, she’s helmed leadership roles across multiple categories including Beauty, FMCG, and General Merchandise—experiences that are expected to shape her approach at Cleartrip.

“Travel continues to be a high-priority segment for Flipkart,” said Ajay Veer Yadav, SVP at Flipkart. “We’re backing Cleartrip to scale even further, and Manjari’s track record makes her a great fit to steer this phase. Her deep understanding of customer behavior, paired with her sharp business instincts, makes us optimistic about what’s ahead.”

Since Flipkart’s acquisition in 2021, Cleartrip has been on a mission to redefine itself—overhauling its branding and tech, and doubling down on customer engagement. Much of this momentum was built under Rathi’s watch, who helped energize the platform through campaigns like “Nation on Vacation” and Flipkart’s mega Big Billion Days travel push.

Continue Exploring: NONSTOP launches first flagship store in Mumbai, offering mobility and wellness solutions

“We’re grateful to Anuj for the impact he’s made,” Yadav added. “He’s been a driving force behind some of Cleartrip’s biggest wins over the past year. We wish him nothing but success in what comes next.”

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Myntra’s Tech Head Raghu Krishnananda Steps Down After 5-Year Stint

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Myntra’s Tech Head Raghu Krishnananda Steps Down After 5-Year Stint

Raghu Krishnananda, the man who’s been steering Myntra’s product and tech direction for the past five years, has decided to move on. His departure is set to take place in the coming weeks, making him the second senior tech leader to exit the Flipkart group in just over two months.

Krishnananda, who joined Myntra in 2019, led several key verticals—from business intelligence and product design to IT security and engineering. His time at the company saw him build out systems that scaled with Myntra’s rapid growth, while also nurturing a tech culture grounded in experimentation and precision.

Continue Exploring: NONSTOP launches first flagship store in Mumbai, offering mobility and wellness solutions

In a note to employees, CEO Nandita Sinha acknowledged his impact, highlighting how he helped shape Myntra’s technology backbone to be “nimble, future-ready, and in lockstep with business strategy.” She also credited him for promoting a workplace driven by curiosity and continuous improvement.

For now, his direct team will report to Sinha herself as the company begins the hunt for a new leader to fill the gap. The search is already underway, with Sinha noting that they’re focused on finding someone who can match the pace and ambition that Myntra’s next phase demands.

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She wrapped the message with a warm sendoff, thanking Krishnananda for his contributions and wishing him the best in whatever lies ahead.

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Eternal Ltd (Formerly Zomato) Kills Off Dormant Dutch Arm with Rs 32 Lakh Net Worth as Global Exit Continues

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Eternal Ltd (Formerly Zomato) Kills Off Dormant Dutch Arm with Rs 32 Lakh Net Worth as Global Exit Continues

Eternal Ltd., formerly known as Zomato, has begun the process of shutting down its inactive Dutch subsidiary, Zomato Netherlands B.V. The unit, which hasn’t conducted any business in recent years, holds a modest net worth of around Rs 32 lakh and has been dormant since at least 2021.

The company, in a recent filing, clarified that the closure of this non-operational entity will have no bearing on its financials. With no revenue contribution in FY24 and no activity logged since its IPO prospectus days, the Dutch business had long ceased to be relevant.

Continue Exploring: NONSTOP launches first flagship store in Mumbai, offering mobility and wellness solutions

This move marks Eternal’s first corporate update since rebranding from Zomato Ltd. to Eternal Ltd. in March 2025. CEO Deepinder Goyal has emphasized that while the corporate name has changed, the Zomato brand and app will continue unchanged for consumers.

Once ambitiously spread across 20+ international markets—including North America, thanks to the 2015 acquisition of Urbanspoon—Zomato has steadily rolled back its global ambitions. Over the last four years, the company has exited multiple geographies, pulling the plug on subsidiaries in the US, UK, Singapore, South Africa, and across Europe and Southeast Asia.

The winding up of the Dutch entity follows similar moves in Slovakia (July), as well as in Vietnam and Poland earlier this year. Goyal has publicly acknowledged that the company’s overseas plans didn’t deliver as hoped, and Eternal now plans to double down on its core Indian business.

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With the rebrand and continued streamlining, the company is clearly signaling a sharper focus and tighter structure. The liquidation of Zomato Netherlands B.V. is expected to be completed within the next 12 months.

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Meesho Tops Downloads Despite 32% Search Drop, as India’s Women’s Wear Market Shrinks 6.7% to 719 Lakh Searches

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Meesho Tops Downloads Despite 32% Search Drop, as India’s Women’s Wear Market Shrinks 6.7% to 719 Lakh Searches

India’s online women’s fashion scene is seeing some interesting shifts. A recent analysis by digital marketing firm Techmagnate reveals that search interest in women’s wear has dipped by about 6.7%, falling from 770.55 lakh searches in FY24 to 719.10 lakh in FY25. While this drop isn’t massive, it hints at a possible cooling of consumer curiosity or a shift in how and where shoppers are engaging.

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Still, when it comes to where people are clicking, branded fashion marketplaces continue to rule the roost. Together, Meesho, Myntra, Flipkart, Amazon, and Ajio accounted for more than 97% of all branded search traffic. Even with a 32% drop in search volume, Meesho stood out by racking up the most app downloads — seeing a 16.4% spike, leaving Flipkart, Shopsy, Amazon, and Myntra trailing behind. That gap highlights a clear tilt toward app-based shopping — fast, frictionless, and mobile-first.

Among individual fashion brands, Zara topped the charts with a monthly average of 2.79 lakh searches, though it’s seen a downward trend in recent months. H&M, Biba, Libas, and Puma followed close behind. But Zara’s slipping SERP visibility might be a red flag in a hyper-competitive digital landscape where staying on top of Google is no longer a given.

Meanwhile, ethnic fashion is having a major moment. Searches for “Chikankari kurti for women” exploded — up over 809% — now drawing 8.23 lakh searches a month. Ethnic wear overall remains a dominant category, commanding over 165.99 lakh monthly searches.

Continue Exploring: NONSTOP launches first flagship store in Mumbai, offering mobility and wellness solutions

In terms of geography, Delhi, Bengaluru, and Mumbai are leading the charge, contributing nearly 68% of total online interest in women’s fashion. The only metro showing actual growth this year? Chennai, inching up by 0.92% and capturing 11.3% of total search share.

“India’s women’s fashion market is shifting gears — fast,” said Sarvesh Bagla, Founder & CEO of Techmagnate. “We’re watching consumer behavior evolve rapidly, driven not just by product trends, but also by how people shop — from search engines to social media to mobile-first platforms.”

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Sahil Barua Exits Swiggy Board Amid Delhivery’s ₹1,400 Cr Ecom Express Acquisition and Intensified CEO Duties

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Sahil Barua Exits Swiggy Board Amid Delhivery’s ₹1,400 Cr Ecom Express Acquisition and Intensified CEO Duties

Just days after Delhivery shook up the logistics space with its acquisition of Ecom Express, the company’s CEO Sahil Barua has stepped down from his position as an Independent Director on Swiggy’s board.

Continue Exploring: NONSTOP launches first flagship store in Mumbai, offering mobility and wellness solutions

Barua cited his growing responsibilities at Delhivery as the reason for stepping away. In a note addressed to Swiggy’s board, he explained that his expanding role simply left him without enough time to commit fully to the board position.

“With my professional responsibilities increasing significantly at Delhivery, I’m no longer able to give the board the attention it deserves,” Barua said in his letter. Swiggy shared the update in a regulatory filing on Friday, also clarifying that there were no other reasons behind his departure.

Barua had been a part of Swiggy’s boardroom since the early days of its independent governance structure, playing an active role during a crucial period of growth and preparation for public markets.

A Strategic Shift at Delhivery

Earlier this month, Delhivery announced a major deal — acquiring a controlling interest in Ecom Express for around ₹1,400 crore in cash. The move is expected to strengthen Delhivery’s position in the logistics and e-commerce delivery ecosystem.

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Following Barua’s resignation, Swiggy board chairperson Anand Kripalu acknowledged his contributions:

“Sahil was one of the first independent voices on our board, and he’s been instrumental during key phases of our growth and evolution. We’re thankful for his guidance over the last two years and wish him the best as he takes on even bigger responsibilities.”

With one foot firmly planted in a high-stakes integration at Delhivery, Barua’s exit from Swiggy seems to reflect a strategic narrowing of focus — one that aligns with his company’s aggressive expansion plans.

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Airtel Veteran Akhil Gupta Joins Zepto’s Board as IPO Prep Intensifies and $4 Bn GOV Target Nears

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Airtel Veteran Akhil Gupta Joins Zepto’s Board as IPO Prep Intensifies and $4 Bn GOV Target Nears

As Zepto sharpens its strategy for an upcoming IPO, the quick commerce startup has added a seasoned name to its boardroom — Akhil Gupta, Vice Chairman of Bharti Enterprises. Known for his pivotal role in steering Bharti Airtel, Bharti Infratel, and Airtel Africa through public listings, Gupta joins Zepto as an independent director with deep experience in building large-scale enterprises and navigating capital markets.

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Gupta isn’t new to high-stakes deals. Over the years, he’s played a central role in Bharti’s global tie-ups with the likes of British Telecom, Singapore Telecom, Telecom Italia, and Vodafone. He also has a strong track record in bringing big-ticket investors to the table, having worked with names like Warburg Pincus, KKR, Temasek, Sequoia, and Qatar Foundation Endowment — a network Zepto may look to leverage as it enters the next phase of its journey.

The current board of Zepto includes co-founders Aadit Palicha and Kaivalya Vohra, along with Anu Hariharan (Founder, Avra) and Suvir Sujan (Managing Director, Nexus Venture Partners). With Gupta’s addition, the company appears to be doubling down on boardroom firepower as it prepares for life as a public company.

Strengthening the Core Team

Zepto’s leadership bench has been undergoing a quiet but steady transformation over the past two years. In a clear signal of internal growth and trust in homegrown talent, several key executives have been promoted to C-suite positions.

For instance, Devendra Meel, who previously led the company’s loyalty program ‘Pass’ as SVP, was elevated to Chief Business Officer last year. Prior to that, Nikhil Mittal and Divesh Sawhney — both former SVPs — took on new roles as Chief Technology Officer and Chief Growth Officer, respectively.

Operational Momentum and Financial Discipline

Cofounder Aadit Palicha recently said the company is inching toward a $4 billion annualised gross order value (GOV), while also keeping tighter control on its bottom line. According to him, Zepto has halved its EBITDA and operating cash flow burn (excluding ESOP costs) over the last quarter — a rare feat for a hyper-growth startup.

Continue Exploring: NONSTOP launches first flagship store in Mumbai, offering mobility and wellness solutions

The company’s network of dark stores — a backbone of its ultra-fast delivery model — is also reportedly trending toward EBITDA breakeven, signaling operational efficiency that could appeal to public market investors.

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Chocolate X Co-Founders Karthik Pittala & Rafi Shaik Aim for Rs 100 Crore Revenue by FY27 with Aphrodisiac Chocolates and Bold Retail Play

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Chocolate X Co-Founders Karthik Pittala & Rafi Shaik Aim for Rs 100 Crore Revenue by FY27 with Aphrodisiac Chocolates and Bold Retail Play

New Delhi — Intimacy wellness brand Chocolate X has set its sights on reaching Rs 100 crore in revenue by FY27, banking on a wider product portfolio, deeper D2C engagement, and an entry into quick commerce and offline retail, according to Co-Founder and COO Karthik Pittala, in conversation with IndiaRetailing.

The brand was started by Pittala and his long-time collaborator Rafi Shaik, who serves as CEO. Their goal? To make conversations around intimacy more mainstream in India — and they’re doing it with a modern spin: aphrodisiac chocolates made with Ayurvedic elements.

“We closed FY24 with Rs 4.5 crore in net revenue,” Pittala shared. “For FY26, we’re aiming for somewhere between Rs 40 to 53 crore, and with our new launches and growing consumer demand, we believe hitting the Rs 100 crore mark in FY27 is within reach.”

Continue Exploring: NONSTOP launches first flagship store in Mumbai, offering mobility and wellness solutions

Riding the Quick Commerce Wave

Chocolate X is betting big on instant delivery platforms to capture unplanned, in-the-moment purchases. “Our product is impulse-driven. People often don’t plan ahead when it comes to intimacy, so quick commerce makes perfect sense,” said Pittala. Talks are already underway with major platforms like Swiggy Instamart, Zepto, and Flipkart to bring this idea to life.

At the moment, 85% of the brand’s sales come directly from its own website. Amazon contributes the remaining 15%. Interestingly, unlike most startups that begin with online marketplaces, Chocolate X took a different route—building traction on its own site first. “Sometimes investors are surprised by our metrics, but everything we present is verified,” Pittala noted.

Looking ahead, the company wants to even out its revenue streams, with marketplaces and quick commerce expected to account for nearly half of total sales in the near future.

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Offline Retail is Next

So far, Chocolate X has kept its focus squarely on digital channels. But change is coming. The brand is now eyeing a move into physical retail — starting with pharmacies and carefully selected stores. “It has to feel right,” said Pittala. “We’re looking at spaces where the product won’t feel out of place, and where perception aligns with our vision.”

The team is also weighing partnerships with medical professionals — including doctors and sexologists — to enhance credibility and connect with a wider audience.

The offline rollout is planned for after FY25, once the company has tightened its backend operations and solidified its position in the marketplace landscape.

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Urban Company Edges Closer to IPO, to Raise Rs 528 Crore as It Rebrands and Restructures

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Urban Company Edges Closer to IPO, to Raise Rs 528 Crore as It Rebrands and Restructures

Urban Company is almost ready to hit the public markets. The home services startup has reportedly secured shareholder approval to raise Rs 528 crore in fresh capital through an initial public offering, according to filings with the Registrar of Companies (RoC).

This is a significant shift from the company’s earlier plans to raise close to Rs 3,000 crore. But with global markets wobbling and investor sentiment staying cautious, Urban Company has opted for a leaner raise—one that keeps momentum going without biting off more than the current climate can chew.

The IPO process is being handled by a heavyweight trio: Kotak Mahindra Capital, Goldman Sachs, and Morgan Stanley. If all goes as planned, a draft red herring prospectus will soon make its way to SEBI for review.

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In the lead-up to the public listing, the Gurugram-based firm recently changed its name—dropping the “Pvt. Ltd.” tag to become Urbanclap Technologies India Ltd., a legal move that brings it in line with listing norms.

From Homes to Headlines: Urban Company’s Journey So Far

Urban Company’s reach now spans over 60 cities across India and international markets like Singapore, the UAE, and Saudi Arabia. The platform helps users book everything from deep cleaning and appliance repair to beauty treatments and grooming, working with a network of around 55,000 trained professionals.

In FY24, the company posted operating revenue of Rs 827 crore, marking a 30% jump from the previous year. More importantly, it slashed its net losses by 70%, bringing the figure down to Rs 93 crore. The platform currently handles roughly 2.2 million orders a month, with an average service cost of around Rs 1,290.

Since its launch in 2014, Urban Company has pulled in over $450 million in funding, with a valuation hovering near $2.5 billion. Its biggest round came in 2021, when it raised $255 million from Prosus, Dragoneer, and others.

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More recently, the company has begun experimenting with a new vertical—Insta Maids, a quick-commerce-inspired service that lets users book help within 15 minutes, paid by the hour. It’s a move that signals Urban Company’s willingness to play on the edge of innovation while scaling its core business.

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Eloelo Raises Rs 114.3 Crore in Series B to Supercharge AI Tools, Go Global with Desi Creators

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Eloelo Raises Rs 114.3 Crore in Series B to Supercharge AI Tools, Go Global with Desi Creators

Bengaluru-based Eloelo, a rising star in India’s live social entertainment space, has just pocketed Rs 114.3 crore (roughly $13.5 million) in its latest Series B round, led by Singapore’s Play Ventures. This fresh injection of capital brings Eloelo’s total funding to over $50 million.

Also joining the round were familiar names—Kalaari Capital, MIXI Investments, Gameskraft Technologies, Griffin Gaming Partners, Waterbridge Ventures, Courtside Ventures, and Rocket Capital—doubling down on their bet that Eloelo is building something special.

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The platform, co-founded by Saurabh Pandey and Akshay Kumar Dubey in mid-2020, is shaking up the livestreaming space with a vibrant mix of games, interactive shows, live audio/video rooms, and a digital economy powered by virtual gifting. It’s a playground where creators, not algorithms, take center stage—and more than 20,000 of them have already found ways to earn money without relying on ads or subscriptions.

What sets Eloelo apart? It’s totally ad-free, subscription-free, and proudly India-first. All revenue flows in from digital gifts and micropayments made during live shows—a model that’s taken off, especially among Gen Z and Tier 2+ audiences hungry for more engaging and culturally relevant social platforms.

Pandey, the company’s CEO, summed up the mission in a statement:

“Most social platforms today are built for scrolling, not connecting. Eloelo flips that on its head. We’re here to build real-time communities—not just content feeds. Whether it’s chatting, playing games, or sending virtual love, we’re giving people a sense of belonging in their own language.”

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With eyes set on the Indian diaspora, a growing suite of AI-driven tools for creators, and an ambitious ARR target of $60 million by the end of next year, Eloelo is now playing in the big leagues—and doing it on its own terms.

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