Chelvies Coffee Raises $1 Million to Expand Across India and Transform the Coffee Experience

Retail & Ecommerce

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January 22, 2025

Chelvies Coffee, a new name in India’s specialty coffee scene, has successfully raised $1 million in funding, with another $500,000 in debt financing in progress. This round was led by Endurance Capital, a prominent player in venture funding.

The funds will be directed toward ambitious expansion plans aimed at launching over 30 outlets across India’s major metro cities by 2026. The company also intends to enhance its supply chain, develop proprietary food production systems, and strengthen its operational capabilities.

Founded in 2023 by Dhruv Singh, Chelvies Coffee is set to make waves in India’s coffee culture. Coming from a family with deep roots in the restaurant industry—he is the fourth generation of the well-known Kake Di Hatti chain—Dhruv’s vision is to introduce a European-inspired coffee and dining experience to India. Drawing from his experience scaling Kake Di Hatti from 5 to 100 stores across India, Dhruv is now bringing his expertise and passion for quality to Chelvies Coffee.

With six locations already operational in Delhi NCR and Ahmedabad, Chelvies has garnered a strong following, achieving a monthly run rate of Rs 1.30 crore. What’s even more impressive is the profitability demonstrated at each of these locations.

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“Chelvies Coffee is not just another coffee shop. We’re transforming the idea of a coffeehouse into a full-fledged experience—one where customers can enjoy premium coffee and elevated dining in an environment that feels like home,” said Dhruv Singh. “Our journey so far has been one of constant refinement, making sure that every detail of our concept is fine-tuned to perfection. Now, with this fresh round of funding, we’re ready to expand rapidly and bring our vision to cities across India.”

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Abhishek Mittal, Founding Partner at Endurance Capital, praised Dhruv’s customer-centric approach: “What sets Chelvies Coffee apart is not just their unique offerings, but Dhruv’s genuine customer obsession. That’s something rare in India’s F&B sector. Chelvies’ impressive sales-to-investment ratio and healthy margins validate both their customer appeal and their potential for high returns.”

Endurance Capital, known for investing in transformative brands, is backing Chelvies Coffee at a time when the market is ripe for a coffee brand that offers both exceptional beverages and outstanding food under one roof.

JioCoin and the Crypto Revolution: Is Reliance Jio Creating India’s Answer to Trump Coin?

Tech

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January 22, 2025

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Image of jio — JioCoin and the Crypto Revolution: Is Reliance Jio Creating India’s Answer to Trump Coin?

Reliance Jio seems to be quietly exploring the cryptocurrency world with the introduction of JioCoin, a blockchain-based reward token spotted within the JioSphere web browser. While Reliance Industries has not made an official statement, users of the JioSphere app on both Android and iOS have uncovered references to JioCoin in the app’s FAQ section, fueling speculation about its potential applications.

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According to the app’s description, JioCoin is a blockchain-based token built on Ethereum Layer 2 and integrated with Polygon Labs, a platform known for its focus on scalability and efficiency. Users can reportedly earn these tokens by interacting with Jio’s digital ecosystem, such as using MyJio or JioCinema, linked to their Indian mobile numbers. The earned tokens are deposited into a wallet powered by Polygon Labs’ Proof of Stake (PoS) technology, marking a significant step toward blockchain adoption in mainstream platforms.

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Polygon Labs’ Global Payments Head, Aishwary Gupta, acknowledged this development in a LinkedIn post, revealing that JioSphere now features a native wallet integration for storing JioCoins.

Rewards With Untapped Potential

Although the specifics remain unclear, JioCoins are described as reward tokens for browsing the internet via the JioSphere web browser. Market speculation suggests that these tokens could eventually be used for Jio services such as mobile recharges, utility bill payments, or other digital offerings. Analysts believe the value of JioCoins might be tied to user activity, making them a tool to drive higher engagement across Reliance Jio’s digital platforms.

As Reliance Jio enters the blockchain space, JioCoin could pave the way for new trends in user rewards, loyalty programs, and decentralized finance integration. Whether this marks the beginning of a larger crypto initiative by Reliance remains to be seen, but the buzz surrounding JioCoin is already significant. For now, users and observers alike are keeping a close eye on what could become a game-changer in India’s digital and cryptocurrency landscape.

Ola Electric Launches Roadster Production as It Gears Up for E-Bike Revolution

Tech

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January 22, 2025

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Image of Ola Electric — Ola Electric Launches Roadster Production as It Gears Up for E-Bike Revolution

Ola Electric has officially begun the production of its highly anticipated electric motorcycle, the ‘Roadster,’ which was first unveiled back in August of the previous year. The company confirmed the start of its assembly line on January 20, 2025, marking an important milestone in the brand’s electric vehicle (EV) journey.

Ola Electric’s CEO and founder, Bhavish Aggarwal, took to X (formerly Twitter) the following day to share his excitement, posting a video of himself riding the new electric bike at the company’s production facility. In the post, he wrote, “Exhilarated after riding the @OlaElectric Roadster! Can’t wait for you all to experience!” The footage featured Aggarwal navigating the company’s plant with a passenger, adding to the anticipation surrounding the new model.

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Earlier this month, Ola Electric showcased the Roadster alongside other products, including the Ola Gig and Ola S1 Z, at the Bharat Mobility Expo 2025. The production of the Roadster marks a significant step following the brand’s August 2024 announcement at its annual event, where it introduced the Roadster Series. The series includes three different models: Roadster X, Roadster, and Roadster Pro, with prices starting at INR 74,999.

The model Aggarwal demonstrated in his video is likely the Roadster, which will feature a motor capable of producing 13 kW. Buyers will have the option to choose from battery variants of 3.5 kWh, 4.5 kWh, and 6 kWh. With a top speed of 126 km/h and a range of 248 kilometers, the Roadster will be priced between INR 1,04,999 and INR 1,39,999. Ola Electric plans to begin deliveries for the Roadster X and Roadster models in Q4 of FY25.

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However, the launch comes amid scrutiny for Ola Electric, which has faced multiple challenges in recent months. The company is currently under investigation by the Central Consumer Protection Authority (CCPA) over complaints related to delayed deliveries, defective products, and other service issues. Despite these challenges, the commencement of Roadster production signals the company’s continued push to revolutionize India’s electric mobility sector.

Deconstruct Skincare Raises INR 65 Crore to Lead the Evidence-Based Skincare Revolution in India

INVESTMENTS

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January 22, 2025

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Image of deconstruct — Deconstruct Skincare Raises INR 65 Crore to Lead the Evidence-Based Skincare Revolution in India

Bengaluru-based D2C skincare brand Deconstruct has announced a significant funding milestone, raising INR 65 crore (approximately $7.5 million). The round was led by L’Oréal’s venture capital arm BOLD, along with V3 Ventures and DSG Consumer Partners. Existing investors, including Kalaari Capital and BEENEXT, also participated in this round.

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Deconstruct Skincare Secures INR 65 Crore Funding to Expand and Innovate

The newly secured funds will be directed toward product innovation, venturing into new categories, and enhancing Deconstruct’s existing product range. Additionally, the company aims to strengthen its distribution network, with a particular focus on quick commerce platforms and expanding its presence in retail.

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Founded in 2020 by Malini Adapureddy, Deconstruct has built its reputation as a brand that offers evidence-based skincare solutions. The company’s product lineup includes serums, face washes, shampoos, and sunscreens, all of which are formulated to be gentle and effective.

Reflecting on the milestone, Adapureddy stated, *“This is a proud moment for us and a testament to the trust placed in our brand by both our consumers and investors. With this funding, we are committed to creating products that deliver highly effective results while

With Rs 103 Crore in Sales, Innovist Eyes Big Plans for 2024 Expansion

Growth

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January 22, 2025

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Image of innovist — With Rs 103 Crore in Sales, Innovist Eyes Big Plans for 2024 Expansion

Founded in 2019 by Rohit Chawla, Sifat Khurana, and Vimal Bhola, Innovist has rapidly become a notable name in the personal care sector. With a focus on delivering high-quality products, the company’s core values—cleanliness, transparency, and scientific innovation—are at the heart of its offerings.

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Based in Gurgaon, Innovist operates three distinct sub-brands: Bare Anatomy, which focuses on custom hair care solutions; Chemist at Play, offering a range of skincare products; and SunScoop, a line dedicated to sun protection. Its portfolio includes a variety of products such as shampoos for hair fall and dandruff, hair masks and serums, lip balms, AHA body lotions, retinol body lotions, and under-eye creams.

The founders emphasized their approach to building a “science-led House of Brands,” drawing on their expertise in brand development, in-house research, and top-tier manufacturing. Innovist operates with a vertically integrated business model, overseeing everything from product creation to sales.

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The company has garnered support from investors such as Sauce.vc, Falguni & Sanjay Nayar Family Office, Amazon Smbhav Venture Fund, Accel Partners, and the Patni Family Fund.

For the financial year 2023-24, Innovist achieved a total revenue of Rs 103 crore. Looking ahead, the company is aiming for significant growth, targeting three times that figure in the upcoming fiscal year, driven by innovative product launches and expanded retail operations.

Quick Commerce Soars in 2024: Food, Fashion, and Medicines Lead the Charge

Quick Commerce

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January 21, 2025

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Image of quick commerce — Quick Commerce Soars in 2024: Food, Fashion, and Medicines Lead the Charge

The year 2024 marked a pivotal shift in the quick commerce and last-mile delivery landscape across India. From food and fashion to medicines, a wide range of products saw a surge in online orders, especially in major cities.

As the year drew to a close, new trends in delivery patterns across India painted a picture of rapid growth and changing consumer preferences. Borzo, a global intra-city courier service (formerly WeFast), analyzed data from over 15 million deliveries across the country to pinpoint the emerging categories of 2024.

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While food and clothing continued to dominate online purchases, there was a noticeable rise in the demand for pharmaceutical products and document deliveries. The growing trend of ordering medicines online is driven by the ease and convenience of having prescriptions delivered directly to consumers’ doorsteps with minimal hassle.

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Additionally, there was a marked increase in demand for delivery services focused on groceries and documents, indicating a shift toward online grocery shopping and the quick, efficient delivery of important paperwork within cities.

These emerging demands reflect a broader change in consumer behavior, with an increasing preference for speed and convenience in delivery services. This shift highlights how the quick commerce sector in India is evolving to meet the fast-paced needs of modern consumers.

How IKEA’s Renewable Energy Investments Cut ₹100 Million in Electricity Costs and Boosted Growth by 23.7%

Business

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January 21, 2025

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Image of Ikea — How IKEA’s Renewable Energy Investments Cut ₹100 Million in Electricity Costs and Boosted Growth by 23.7%

IKEA, the global leader in furniture retail, has shared how its shift to renewable energy has not only benefited the environment but also led to significant cost savings. The company has managed to cut nearly ₹100 million off its electricity bills by making the switch.

As part of its broader growth strategy, IKEA is focusing on expanding its presence in India. Juvencio Maeztu, Deputy Global CEO, stated that the company plans to diversify its supply chain, foster local manufacturing partnerships, and increase value addition in its portfolio from one-third to almost half.

In a recent interview with ET’s Sruthijith KK at the World Economic Forum in Davos, Maeztu discussed how balancing investments in technology and sustainability can be challenging. He acknowledged that while pursuing sustainability goals may seem at odds with short-term profits, IKEA has found that prioritizing sustainability has consistently paid off in the long run.

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IKEA is also making strides in India with its eco-friendly initiatives, including home deliveries using electric vehicles (EVs). Currently, EV trucks are used for 90% of deliveries across the country, and 100% of deliveries are made with EVs in cities like Hyderabad, Bangalore, and Pune. Maeztu emphasized that this approach proves it’s possible to lower environmental impact while cutting costs.

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In addition to these green efforts, IKEA has reduced its climate footprint by 30%, while seeing a 23.7% increase in growth. The company has also saved ₹97 million globally through energy efficiency and renewable energy investments. Looking ahead, IKEA plans to source 100% of its operational energy in India from renewables in the coming fiscal year.

Maeztu also highlighted that IKEA is proud of its diverse workforce in India, with women now making up half of its employees across all levels, reinforcing the company’s commitment to inclusivity and diversity.

Zomato Faces Rs 95 Crore Increase in Losses and 14% EBITDA Decline, Sticking to Expansion Plans

Quick Commerce

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January 21, 2025

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Image of zomato — Zomato Faces Rs 95 Crore Increase in Losses and 14% EBITDA Decline, Sticking to Expansion Plans

Zomato, the food delivery leader, is preparing for a challenging year ahead as it forecasts continued losses in the near future. CEO Deepinder Goyal pointed to a slowdown in demand for food delivery services, which has placed significant pressure on the company’s operations, even as it pushes forward with ambitious growth plans.

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In its latest financial update, Zomato reported a 14% drop in consolidated Adjusted EBITDA, which amounted to Rs 45 crore, despite seeing some improvements in food delivery margins. The decline can largely be attributed to increased spending on expanding Zomato’s quick commerce network, a move that has widened the company’s losses by Rs 95 crore compared to the previous quarter. Following the announcement, Zomato’s stock took a hit, falling 3.14% to Rs 240.95 per share on the BSE, after reaching an intraday low of Rs 228.80.

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Despite the short-term setbacks, Goyal expressed confidence in the company’s future, reaffirming that Zomato is still on track to achieve its goal of 2,000 stores by December 2025—one year ahead of schedule. However, the push to rapidly expand its store network could create difficulties in the immediate term, with some stores potentially underperforming and impacting profitability in the upcoming quarters.

Rapido Sets Ambitious Goal to Expand to 500 Cities Across India Following $200 Million Funding Round

Growth

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January 21, 2025

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Image of rapido — Rapido Sets Ambitious Goal to Expand to 500 Cities Across India Following $200 Million Funding Round

Rapido, the mobility startup backed by WestBridge, has unveiled bold plans to broaden its reach across India by launching operations in 500 cities. This marks a significant leap from its current presence in more than 120 cities. As per reports, the expansion will unfold in stages starting February, initially targeting key states such as Karnataka, Gujarat, Tamil Nadu, West Bengal, and Rajasthan.

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The subsequent phases will see Rapido extending its services to other states including Punjab, Haryana, Uttar Pradesh, and Uttarakhand, among others.

This move comes after the company raised $200 million in a successful funding round in September, earning it unicorn status. With a daily ride count of 3.6 million, Rapido has solidified its position as a major player in the Indian mobility landscape. The surge in its growth highlights the rising need for affordable and accessible transportation solutions, particularly in urban and semi-urban areas.

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Co-founder Pavan Guntupalli shared his excitement about the expansion, commenting, “Our expansion to 500 cities reflects our dedication to empowering individuals and creating a more interconnected India. With 1.3 crore Captains who have collectively earned over ₹15,000 crore, we’re not just providing rides—we’re fostering economic opportunities.” Through its platform, Rapido continues to offer essential transportation services while creating livelihood opportunities for thousands of drivers, known as Captains, who rely on the platform for their income.

Zomato’s Blinkit Shifts Focus to Smaller Cities with New Dark Store Expansion

Quick Commerce

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January 21, 2025

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Image of zomato & blinkit — Zomato’s Blinkit Shifts Focus to Smaller Cities with New Dark Store Expansion

Blinkit continues to drive a significant portion of its revenue from major cities, but Zomato is now shifting focus to smaller cities, planning to expand its quick commerce arm with more dark stores over the next year.

During a post-earnings call, Zomato CEO Deepinder Goyal shared that the company sees strong potential for Blinkit in smaller cities, particularly from a return on investment (RoI) perspective. As part of its ongoing expansion, Blinkit plans to open a substantial number of dark stores in these regions in the coming year.

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“We believe that once we establish a solid presence and density in these smaller cities, we’ll be in a better position to share data about how these cities differ, if at all, from the larger ones,” Goyal remarked.

While Blinkit’s top eight cities currently account for 80% of its business, the shift to smaller markets comes with new opportunities. However, the company reported a sharp rise in its adjusted EBITDA loss for Q3 FY25, which saw a 13-fold increase to INR 103 Cr from INR 8 Cr in Q2. Compared to last year, the loss grew by 5.7%.

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Goyal noted that the quarter had been one of the most challenging in the past ten, with a surge in marketing expenses due to heightened competition. Blinkit’s chief Albinder Dhindsa addressed these pressures in the company’s shareholder letter, explaining that increased competition has been a driving force behind customer awareness and the faster adoption of quick commerce.

Drawing parallels to the early days of food delivery, Dhindsa pointed out that intense competition leads to more spending on customer acquisition across the industry. He added that this competition ultimately benefits players who maintain strong service quality, even as margin expansion has slowed. However, Dhindsa reassured investors that this is only a temporary setback.

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