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Rapido Gears Up for Pan-India Expansion After 46% Revenue Surge in FY24

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Rapido Gears Up for Pan-India Expansion After 46% Revenue Surge in FY24

Rapido, the Bengaluru-based ride-hailing company and a key competitor to Ola and Uber, has unveiled plans to expand its services to 500 cities across India, up from its current presence in over 120 cities.

The expansion will begin in February, targeting major states like Karnataka, Gujarat, Tamil Nadu, West Bengal, and Rajasthan in its first phase. Subsequent phases will cover additional regions, including Punjab, Haryana, Uttar Pradesh, and Uttarakhand.

This announcement follows Rapido’s milestone of achieving unicorn status in September last year, when the company raised $200 million in funding at a valuation of $1 billion.

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Founded in 2015, Rapido started as a two-wheeler ride-hailing platform and later diversified into three-wheeler and cab services. Today, it manages an impressive 3.6 million rides daily.

Speaking at the Bharat Mobility Expo 2025, Co-founder Pavan Guntupalli highlighted the company’s mission to connect riders and drivers across India, while creating substantial earning opportunities for its driver partners, known as “Captains.” To date, more than 1.3 crore Captains have collectively earned over ₹15,000 crore on the platform.

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Rapido’s growth is also evident in its financials. In FY24, operating revenue surged by 46%, reaching ₹648 crore, driven by increased customer bookings and new business expansions. The company also made strides in reducing its net loss, narrowing it to ₹371 crore from ₹674 crore in the previous fiscal year, thanks to improved cost management and a stronger revenue base.

With its upcoming expansion, Rapido aims to cement its position as a leading mobility platform, catering to a wider audience across the country.

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Paytm Sets Sights Abroad with ₹60 Crore Investment in UAE, Saudi Arabia, and Singapore

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Paytm Sets Sights Abroad with ₹60 Crore Investment in UAE, Saudi Arabia, and Singapore

Paytm, one of India’s leading fintech companies, is set to expand beyond its home market by establishing subsidiaries in the UAE, Saudi Arabia, and Singapore.

The move, approved by Paytm Cloud Technologies Limited (PCTL), a fully owned subsidiary of One 97 Communications Ltd., aims to bring Paytm’s merchant payments and financial services expertise to international markets with high demand for digital finance solutions.

Expansion Plans and Investment Details

Paytm plans to invest up to ₹20 crore in each of the new subsidiaries, which will be wholly owned by PCTL. The company anticipates completing the incorporation process within six months.

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These entities will focus on payments and financial services, aligning with Paytm’s core strengths in India. The company confirmed that no additional government or regulatory clearances are needed, ensuring a smooth path to global expansion.

Eyeing Global Opportunities

Paytm is positioning itself to tap into the growing global appetite for digital payment systems. The company intends to pursue various strategies, including organic growth, partnerships, licensing, and strategic investments, to establish its presence overseas.

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This isn’t Paytm’s first foray into international markets—it previously ventured into Canada and Japan, gaining valuable insights despite later scaling back those operations. With the new subsidiaries, the company is set to build on its experience and expand its global footprint.

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Burma Burma Targets 50% Revenue Growth with ₹25.46 Crore Funding

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Burma Burma Targets 50% Revenue Growth with ₹25.46 Crore Funding

Burma Burma, a nationwide Burmese dining chain operated by Hunger Pangs Pvt Ltd, has secured ₹25.46 crore (around $3 million) in its latest funding round.

The investment was spearheaded by Negen Capital, which increased its stake from an earlier round. NV Alpha Fund Management and a group of high-net-worth individuals (HNIs) also participated in this funding.

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The newly infused capital will fuel the brand’s ambitious growth plans, which include doubling its outlets over the next 15 months and reaching 24 locations by the end of FY26. Currently, Burma Burma operates 12 restaurants across cities such as Delhi, Gurgaon, Noida, Mumbai, Bengaluru, Hyderabad, Kolkata, and Ahmedabad.

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“Our goal is to hit ₹300 crore in revenue within the next two years while maintaining an EBITDA margin of over 18%. This funding brings us closer to being IPO-ready by 2027,” said Chirag Chhajer, Co-founder of Burma Burma.

The restaurant chain reported impressive financials, earning ₹10.5 crore in revenue for December 2024 with an annualized revenue run rate (ARR) exceeding ₹125 crore. Operating profits for the month reached 28% at the outlet level, alongside a 19% EBITDA margin.

For FY24, Burma Burma posted ₹74 crore in revenue and expects a 50% jump in FY25, projecting earnings of ₹111 crore.

Co-founder Ankit Gupta added, “We’re not just growing; we’re reimagining how Indian diners experience Burmese cuisine. While our roots are firmly planted in Burmese flavors, we’re also exploring exciting new culinary ventures.”

The funding round was managed by investment bankers Sarthak Ahuja and Aditi Randev of Niamh Ventures, alongside BV Raman from Negen Wealth.

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Zomato’s Q3 FY25 Net Profit Plunges 66% Despite 13% Revenue Expansion

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Zomato’s Q3 FY25 Net Profit Plunges 66% Despite 13% Revenue Expansion

Zomato Ltd reported a net profit of ₹59 crore for Q3 FY25, marking a significant decline of 66.5% quarter-on-quarter (QoQ) from ₹176 crore in Q2 FY25. On a year-on-year (YoY) basis, the profit fell by 57.25% from ₹138 crore recorded in the same quarter last year. Despite the decline in profit, the company’s revenue from operations showed strong growth, rising by 64.39% YoY to ₹5,405 crore compared to ₹3,288 crore in Q3 FY24. However, revenue was up by only 13% QoQ from ₹4,799 crore in the previous quarter of FY25.

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The company’s EBITDA for the quarter stood at ₹162 crore, a significant 217.65% increase compared to ₹51 crore in the same quarter last year. However, on a sequential basis, EBITDA dropped by 28.3% from ₹226 crore in Q2 FY25. Margins also took a hit, declining by 171 basis points (bps) to 3% in Q3 FY25, compared to 4.7% in the previous quarter.

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Following the earnings announcement, Zomato’s share price experienced a sharp decline of 7%, trading at ₹231 on the NSE after initially showing strength earlier in the day. The results reflect rising expenditures outpacing income growth, putting pressure on the company’s profitability.

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Innisfree’s Exciting New Collaboration with Blinkit: Instant Delivery of Sustainable Skincare to Your Doorstep

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Innisfree’s Exciting New Collaboration with Blinkit: Instant Delivery of Sustainable Skincare to Your Doorstep

In a bid to make skincare shopping even more convenient, South Korean skincare giant Innisfree has joined forces with Blinkit, India’s leading Quick Commerce platform, to offer rapid delivery of its beloved beauty products. Known for its eco-friendly, nature-inspired formulations from the island of Jeju, Innisfree has established itself as a go-to brand for skincare aficionados across the globe. Its range, from nourishing serums to purifying clay masks, has earned a loyal following among those who seek effective, sustainable beauty solutions.

This partnership with Blinkit marks a significant step in Innisfree’s strategy to adapt to the fast-paced needs of modern consumers. The collaboration ensures that Innisfree’s top-rated skincare products are available for immediate delivery, making it easier than ever for customers to access their favorite beauty items, whether it’s for an impromptu skincare session or a quick restock. With platforms like Blinkit transforming the way people shop, the union of Innisfree’s trusted products with Blinkit’s speed highlights a growing trend toward convenience in the shopping experience.

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Paul Lee, Managing Director & Country Head of Amorepacific India, expressed his excitement about the partnership, saying, “We are thrilled to bring Innisfree’s products to Blinkit, India’s most popular instant delivery platform. The immense love and support from our Indian customers have encouraged us to expand our presence across multiple platforms. With the growing demand for quick and seamless shopping, we are excited to offer eco-friendly skincare to customers at their doorstep in no time.”

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Whether it’s for a sudden skincare indulgence or a much-needed refill, Innisfree’s fans in India can now get their hands on the brand’s high-quality products in an instant. This collaboration exemplifies Innisfree’s dedication to delivering both convenience and luxury, enriching the skincare experience for customers who crave both speed and sustainability.

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What’s the Secret to Virat Kohli’s Latest Food Obsession? Here’s the Inside Scoop

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What’s the Secret to Virat Kohli’s Latest Food Obsession? Here’s the Inside Scoop

When it comes to food, Virat Kohli is known for his discipline, especially in the realm of health and fitness. But recently, the cricket star has shared a surprising snack obsession with his millions of followers, and it’s not your typical health food. So, what exactly is the secret to Virat Kohli’s latest snack choice? The answer lies in Blue Tribe Foods – a game-changing plant-based brand that’s making waves in the culinary world.

Kohli took to Instagram to share his love for Blue Tribe Foods, and his endorsement could not be clearer: “Blue Tribe Foods nuggets are always a yes.” The star athlete, who’s known for his meticulous attention to his diet, is now reaching for these plant-based nuggets as his go-to snack. But why are these nuggets causing such a stir, and why is Kohli so passionate about them? Let’s break it down.

The Virushka Connection: A Couple’s Snack Date

It isn’t just Kohli enjoying Blue Tribe Foods. In a heartwarming post, the brand shared an endearing moment of India’s beloved couple – Virat Kohli and Anushka Sharma – sharing Blue Tribe’s Chicken Seekh Kebabs. Watching the two enjoy these guilt-free, tasty treats while sharing sweet moments captured the hearts of their fans.

In a world where health-conscious eating can sometimes feel like a chore, Blue Tribe’s plant-based options are changing the game. They offer a flavorful way to indulge without the guilt. The Chicken Seekh Kebabs, just like the plant-based nuggets, are a delicious, wholesome alternative that allows you to indulge while staying on track with your nutrition.

A Snack That’s ‘Always a Yes’

When Virat Kohli gives his seal of approval, you know it’s something worth trying. In his words, “Approved by the King, what are you waiting for?” It’s not just about the taste; Kohli is also advocating for a movement towards healthier, more sustainable food choices. Blue Tribe Foods is a pioneer in plant-based innovation, making it easier for consumers to enjoy tasty, healthy snacks without compromising on flavor or quality.

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PharmEasy Co-Founders Exit: What Lies Ahead for the HealthTech Giant

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PharmEasy Co-Founders Exit: What Lies Ahead for the HealthTech Giant

Dharmil Sheth, Dhaval Shah, Harsh Parekh, and Hardik Dedhia, the founding members of API Holdings — the parent company of PharmEasy — are set to step down, according to sources familiar with the matter.

Sheth and Shah originally founded PharmEasy in 2015 as a platform for delivering medicines online. In a major move in 2020, PharmEasy merged with Ascent Health, a major offline pharmaceutical distribution company, leading to the formation of API Holdings. This merger brought together Sheth, Shah, Parekh, Dedhia, and Siddharth Shah — co-founders of Ascent Health — to lead the combined entity.

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Now, over four years after the merger, most of the co-founders are preparing to depart from the company, although Siddharth Shah will remain involved in a leadership capacity, sources confirm. This transition has been in the works since PharmEasy raised its significant funding round in April 2024, which marked a turning point for the company.

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Though the details of the co-founders’ next steps remain unclear, the exit follows a challenging period for API Holdings. In 2023, the company faced difficulties meeting financial obligations after securing a $300 million loan from Goldman Sachs, which further strained its operations.

PharmEasy declined to comment on the changes when contacted. With Siddharth Shah staying on as CEO, the company’s future leadership and direction are now in transition.

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Third Wave Coffee Expands Nationwide with New Café in Chennai, Plans for 150 Locations

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Third Wave Coffee Expands Nationwide with New Café in Chennai, Plans for 150 Locations

Third Wave Coffee, the QSR brand known for its focus on high-quality coffee, has recently opened its 125th café, marking its debut in Chennai. This milestone is part of the company’s aggressive expansion plan to enhance its presence in India’s bustling retail coffee scene, with an ambition to reach 150 cafés within the next two months.

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Chennai, a city rich in culture and commerce, is now home to a Third Wave Coffee café, expanding the brand’s reach to 10 major cities, including Delhi-NCR, Mumbai, Bengaluru, Pune, Hyderabad, and Chandigarh. The brand stands out by blending specialty coffee with innovative brewing methods, offering an inviting atmosphere for coffee lovers. 

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Its menu includes everything from single-origin coffees to cold brews, alongside a selection of snacks and desserts. Third Wave Coffee also hosts engaging community events, workshops, and collaborations to bring people together.

True to its commitment to inclusivity, the brand runs cafés with all-women teams and employs specially-abled staff, reflecting its dedication to diversity and equality. As it continues to grow, Third Wave Coffee aims to not only transform India’s coffee culture but also strengthen its community connections across the country.

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RBI Points to Quick Commerce and E-Commerce as Growth Engines for India’s Economy

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RBI Points to Quick Commerce and E-Commerce as Growth Engines for India’s Economy

The Reserve Bank of India (RBI) has highlighted the growing influence of e-commerce and quick commerce in fueling private consumption in India.

In its latest monthly bulletin, the RBI emphasized that these sectors are among the key contributors to the economy’s brighter outlook, noting that they are powering up private consumption.

The central bank also stressed the importance of encouraging competition in these segments, rather than imposing restrictive measures. However, it also observed that the demand for essential household items showed only a modest uptick in the final quarter of 2023.

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The RBI further noted that the urban middle class is hopeful that a reduction in food inflation could boost disposable incomes, enhancing overall spending power. It suggested that a boost to consumption could help reignite economic momentum.

Additionally, the RBI pointed to the continued strength of rural demand, expecting robust growth in that segment. This observation echoes its earlier statement from November, where it recognized rural India as a significant growth area for e-commerce, especially during festive seasons.

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The backdrop of these remarks comes as quick commerce has rapidly emerged as a new battleground in the retail space. Leading platforms such as Zomato’s Blinkit, Swiggy’s Instamart, and Zepto collectively generated over $1 billion in revenue in FY24. Not to be left behind, e-commerce giants Flipkart and Amazon have also entered the quick commerce fray, with companies like JioMart and BigBasket also looking to capture a share of this rapidly expanding market.

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Coca-Cola’s Eco-Friendly Mission: Transforming Maha Kumbh with Recycled Materials

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Coca-Cola’s Eco-Friendly Mission: Transforming Maha Kumbh with Recycled Materials

Coca-Cola India, in collaboration with its foundation Anandana, has joined hands with the PHD Rural Development Foundation (PHDRDF) and the Prayagraj Mela Authority (PMA) to drive sustainability efforts at the 2025 Maha Kumbh Mela. This initiative is centered around enhancing waste management and recycling systems, reflecting the increasing focus on sustainable practices in India’s retail and event industries.

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Through the Maidaan Saaf campaign, Coca-Cola India has designed and distributed 21,500 jackets made from recycled PET plastic. These jackets are being provided to sanitation workers, boatmen, and waste management volunteers. The distribution includes 10,000 jackets for sanitation workers as part of the SwachhKumbh initiative, 10,000 life jackets for boatmen navigating over 4,000 boats, and 1,500 jackets for waste management volunteers. These jackets not only offer safety but also play a role in raising awareness about plastic reuse.

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Additionally, Coca-Cola India has built 1,000 women’s changing rooms using recycled multi-layered plastic waste along a 12 km stretch of river ghats. These rooms offer a private and ventilated space for women, while also featuring artwork from Indian illustrators, including the Aravani Art Project, Gaysi Family, and Priyankar Gupta. This initiative creatively engages visitors in waste segregation and recycling efforts.

Vivek Vyas, CEO of PHDRDF, emphasized, “The Maha Kumbh Mela is a unique blend of faith, culture, and tradition, attracting millions from around the world. Our partnership with Coca-Cola India marks a crucial step in integrating sustainability into this historic event. With innovations like recycled plastic changing rooms, life jackets, and hydration kiosks, we are setting a new standard for a cleaner, safer, and more eco-conscious Kumbh, aligning modern solutions with traditional values to create a positive, lasting impact.”

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