Swiggy Sports soon to begin operations: MCA gives approval

A&M

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January 16, 2025

Image of swiggy — Swiggy Sports soon to begin operations: MCA gives approval

The Ministry of Corporate Affairs has given the nod to Swiggy Sports which is a wholly owned subsidiary of Swiggy for beginning operations officially.

The filing stated: “Swiggy’s wholly owned subsidiary, Swiggy Sports Private Limited’s incorporation has been approved by the Ministry of Corporate Affairs, Central Processing Centre on January 15th, 2025.”

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This initiative indicates Swiggy’s larger vision to become a prominent player in the sports industry. An all inclusive strategy has been defined by Swiggy Sports which involves talent development, sports facility operation, team ownership and management, event organisation, sponsorship and broadcasting rights, career services.

The update was shared by Swiggy in a regulatory filing.

Swiggy’s foray into the sports industry is a part of the company’s broader strategy to make expansion beyond food delivery. In the month of November, 2024, the ownership rights of Mumbai pickleball team were acquired by Swiggy.

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Campa Cola Takes on the Middle East: Reliance’s Bold Move Against Coca-Cola and PepsiCo

FMCG

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January 16, 2025

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Image of campa cola — Campa Cola Takes on the Middle East: Reliance’s Bold Move Against Coca-Cola and PepsiCo

Reliance Industries is gearing up to introduce Campa Cola in the Middle East, marking the brand’s first international expansion.

Known for its disruptive pricing strategy in India, Campa Cola has quickly shaken up the carbonated drink market, challenging the dominance of global giants Coca-Cola and PepsiCo with lower prices and more favorable trade margins.

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Under Mukesh Ambani’s leadership, Reliance plans to take the same approach in the Middle East, where Coca-Cola and PepsiCo are reportedly facing significant pressure due to a regional boycott movement linked to US foreign policy, particularly its stance on the Israel-Gaza conflict.

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Sources familiar with the matter have confirmed that Campa Cola shipments from India have already arrived in Bahrain, and the brand is preparing to expand further into markets like Oman and Saudi Arabia over the coming months.

Apple Breaks into India’s Top 5 Smartphone Brands: A Historic Milestone

Growth

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January 16, 2025

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Image of apple — Apple Breaks into India’s Top 5 Smartphone Brands: A Historic Milestone

Apple is making significant strides in the Indian market, securing its position as one of the top five smartphone brands in the country for the first time. This marks a major milestone for the tech giant, especially considering India’s price-sensitive consumer base.

During the September to December 2024 festive quarter, Apple achieved an impressive 9–10 percent market share, a record high since its iPhone launch in India. This remarkable performance reflects the brand’s growing appeal, as reported by market research firms IDC and Counterpoint Research.

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Capitalizing on this momentum, Apple is also ramping up its manufacturing efforts in India. The production of the iPhone 16 Pro and iPhone 16 Pro Max is now being carried out locally by its partners Foxconn and Pegatron. Additionally, Apple is expanding its AirPods manufacturing capabilities in Pune and plans to set up a production unit for AirPods in Telangana by 2025.

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Apple’s commitment to local production continues to grow, with a portfolio of India-made products that includes iPads, MacBooks, and AirPods. While some iPad production has been moved to Vietnam, the Indian government is actively encouraging Apple to increase its local assembly of iPads.

In the financial year 2023-24, Apple India posted a 23 percent increase in net profit, reaching Rs 2,745.7 crore, driven largely by strong iPhone sales. Revenue surged 36 percent to Rs 67,121.6 crore. Analysts predict that Apple will maintain this growth trajectory in the current fiscal year, fueled by the rising demand for its products.

Recur Club Launches ₹150 Crore Fund to Fuel Growth of D2C Brands in Quick Commerce

Business

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January 16, 2025

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Image of recur — Recur Club Launches ₹150 Crore Fund to Fuel Growth of D2C Brands in Quick Commerce

Recur Club, a key player in the debt marketplace for startups and SMEs, has unveiled a new ₹150 crore fund aimed at propelling the growth of Direct-to-Consumer (D2C) brands within the Quick Commerce sector. This announcement, made on National Startup Day, is designed to support these fast-growing brands by offering crucial working capital, enabling them to increase inventory or ramp up marketing efforts.

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In just three years, Recur Club has already disbursed over ₹500 crore to D2C businesses, making up 30% of its portfolio. The fund supports companies with revenue ranging from ₹1 crore to ₹300 crore, offering customized financial solutions that are tailored to the unique needs and economics of the D2C business model.

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This new initiative reflects Recur Club’s commitment to advancing India’s ‘Make-in-India’ mission, with a particular focus on nurturing the quick commerce sector within the broader D2C market.

For businesses generating over ₹5 crore in annual revenue, financing options include cash flow-based loans, revenue-based financing, and unsecured term loans. Companies with revenues exceeding ₹40 crore can access additional funding avenues such as working capital demand loans and secured term loans. Additionally, businesses can explore invoice discounting, which allows them to leverage outstanding invoices from e-commerce and quick commerce transactions to free up cash flow and address working capital needs in real time. This strategic approach is especially suited for companies in fast-moving industries, helping them stay agile and scale effectively.

Zomato Boosts Hyperpure’s Supply Chain with New ₹85 Lakh/Month Warehouse Deal

Business

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January 16, 2025

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Image of zomato — Zomato Boosts Hyperpure’s Supply Chain with New ₹85 Lakh/Month Warehouse Deal

Zomato, the foodtech giant, has secured a new 2.5 Lakh sq ft warehousing space in Mumbai, partnering with the Lodha Group for its B2B supply chain business, Hyperpure. This new facility, located at Lodha Industrial and Logistics Park in Palava, will serve as a key hub for Hyperpure, which focuses on supplying fresh produce, groceries, and other essentials to restaurants. The lease agreement spans five years, starting on February 15, 2025, and will cost Zomato INR 85 Lakh per month, with a 5% annual rent increase.

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As part of the lease arrangement, Zomato has deposited an amount equivalent to four months’ rent, having signed the contract in December 2024. This strategic move is aimed at supporting the growth of Hyperpure, which has been expanding rapidly in recent quarters. In Q2 FY25, the division’s revenue surged nearly 100%, reaching INR 1,473 Cr compared to INR 745 Cr the previous year.

In a bid to further streamline its operations, Hyperpure launched a fast-tracked ‘Express’ delivery service in November 2024, promising deliveries within 30 minutes to 4 hours. The company also announced plans to establish a processing plant to provide value-added food products, such as sauces, pre-cut vegetables, and semi-finished items, to its restaurant partners.

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This expansion comes after Zomato raised INR 8,500 Cr ($1 billion) through a Qualified Institutional Placement (QIP). The company allocated INR 2,137 Cr from the QIP proceeds to enhance its quick commerce arm, Blinkit’s dark stores, and to bolster Hyperpure’s warehouse capabilities.

FHRAI Strikes Back: Zomato and Swiggy Accused of Using Restaurant Data to Rip Off Competitors!

Quick Commerce

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January 16, 2025

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Image of FH&RA — FHRAI Strikes Back: Zomato and Swiggy Accused of Using Restaurant Data to Rip Off Competitors!

The Federation of Hotel & Restaurant Associations of India (FHRAI), representing over 60,000 hotels and 500,000 restaurants, has formally requested an immediate meeting with the Union Commerce Ministry regarding what it calls “data misuse and private labelling” by food aggregators Zomato and Swiggy. In a letter sent Wednesday, FHRAI raised alarms about these platforms’ new ventures into quick-service food delivery through their private-label apps, Bistro and Snacc.

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Although Blinkit co-founder Albinder Dhindsa recently defended the integrity of Bistro, stating it operates as a separate entity without using data from Zomato’s restaurant partners, FHRAI argues that both Bistro and Snacc are essentially subsidiaries of their parent aggregators.

The association’s letter expresses deep concerns, citing violations of e-commerce regulations, fair competition, and marketplace neutrality. FHRAI also warns that these developments could have severe repercussions for the restaurant industry as a whole.

Among FHRAI’s key grievances are the alleged misuse of restaurant data, breaches of intellectual property rights, and the creation of unfair competition by using consumer data to develop and promote private-label products. They argue that Zomato and Swiggy’s access to detailed customer and restaurant information—including demand trends, popular dishes, and pricing strategies—gives these platforms an unfair edge in launching their own competing brands.

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By replicating restaurant offerings and undercutting prices, these aggregators are, according to FHRAI, stripping restaurants of their competitive advantage.

Attempts to reach Zomato and Swiggy for comments on the matter have not yielded a response, with Zomato being in a silent period ahead of its results, and Swiggy unavailable for comment.

In light of these concerns, FHRAI has called on the Ministry of Commerce to intervene swiftly, urging the implementation of clear regulatory frameworks for data usage, enhanced transparency in business practices, and increased awareness among consumers.

Swiggy Scores Big with New Sports Arm: A Bold Move into Team Ownership and Event Management

Quick Commerce

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January 16, 2025

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Swiggy, the prominent foodtech company, has received approval from the Ministry of Corporate Affairs (MCA) to establish a new sports-focused subsidiary, Swiggy Sports Private Limited.

The company shared the news in an exchange filing on January 16, outlining the objectives of this new entity, which will encompass sports team ownership, event management, talent development, broadcasting and sponsorship acquisitions, and the promotion of sports through various business models.

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This approval comes shortly after Swiggy’s board gave the green light in December for the creation of a subsidiary aimed at expanding into sports, amusement, and recreation activities. At the time, the company clarified that the new venture’s primary role would be managing the Mumbai pickleball team it acquired for the World Pickleball League (WPBL), with no immediate plans to diversify further into the sports industry.

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However, the approval marks a shift in Swiggy’s strategy as it continues to diversify. Alongside its sports venture, the company has recently rolled out several new initiatives, including the ‘SNACC’ app, which promises 15-minute food deliveries in parts of Bengaluru. Swiggy also expanded into the services marketplace with the launch of Pyng Professional, a platform for professional services. Additionally, it introduced ‘Swiggy Scenes,’ allowing users to book events and parties at partner restaurants, and unveiled a premium invite-only membership program, ‘One BLCK.’

With these moves, Swiggy is clearly setting its sights on broader horizons beyond its core food delivery services.

PhonePe Dives Into Quick Commerce: Can Pincode Compete with Blinkit and Zomato?

Quick Commerce

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January 16, 2025

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Image of phonePe & pincode — PhonePe Dives Into Quick Commerce: Can Pincode Compete with Blinkit and Zomato?

PhonePe, the Walmart-backed payment giant, is diving into the quick commerce sector with its e-commerce platform, Pincode, as per a recent report. This marks the third attempt by the Sameer Nigam-led company to make inroads into the online retail space.

Last April, PhonePe pulled Pincode from non-food categories on the Open Network for Digital Commerce (ONDC) and shifted its focus exclusively to food delivery and unreserved ticket bookings. Now, according to an ET report, Pincode has fully embraced the quick commerce model, launching 15-minute delivery services in select areas of six cities: Bengaluru, Mumbai, New Delhi, Pune, Hyderabad, and Varanasi.

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The company plans to increase its presence by covering 25% of these cities in the coming weeks, with a full-scale launch anticipated between April and June 2025.

This move comes on the heels of Flipkart’s own entry into the instant delivery market, making PhonePe the second player in the same group to join the quick commerce race. Companies like Zomato, Blinkit, and others have already made their mark in this fast-paced sector, and PhonePe’s Pincode is hoping to carve out a share in this growing market.

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The rise of 10-15 minute delivery services isn’t limited to groceries anymore. Other industry giants like Swiggy, Zomato, Blinkit, Zepto, Ola, and Magicpin are also pushing to expand their offerings in this space, as the demand for ultra-fast delivery continues to surge.

Curefoods Names Gokul Kandhi as COO to Drive Nationwide F&B Dominance

Business

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January 16, 2025

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Image of curefoods — Curefoods Names Gokul Kandhi as COO to Drive Nationwide F&B Dominance

Curefoods, a leading cloud kitchen operator, has appointed Gokul Kandhi as its new Chief Operating Officer (COO).

Kandhi, who has been with the company since 2017, will now take on a key role in shaping Curefoods’ strategic direction, driving operational efficiency, and expanding its extensive brand portfolio across India.

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With more than 18 years of experience across startups, retail, and FMCG, Kandhi brings a wealth of knowledge to the position. Before joining Curefoods, he worked as a business manager in Apple’s accessories division and held roles at PepsiCo, Metro, Manipal Education Services, and Wipro.

At Curefoods, Kandhi has been instrumental in scaling several successful brands, including EatFit, CakeZone, Nomad Pizza, Sharief Bhai Biryani, and Frozen Bottle. Today, the company operates over 500 cloud kitchens and physical outlets, serving a diverse range of over 10 cuisines across 40 cities in India.

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“I’m excited and honored to step into the role of COO and lead the next chapter of growth for Curefoods,” Kandhi said. “We’ve built something truly unique, and I’m looking forward to working alongside our talented team to take our brands to even greater heights and provide exceptional experiences for our customers.”

Founded in 2020 by Ankit Nagori, a former Flipkart executive and co-founder of Cult.fit, Curefoods has raised over $120 million in funding from investors such as Accel, Sixteenth Street Capital, and Iron Pillar. The company’s portfolio includes several well-known brands, such as EatFit, Chaat Street, Millet Express, Olio Pizza, and Nomad Pizza.

Anit Kunj Gupta Takes the Helm as the Senior Director of Finance & Accounts at Poshn

Business

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January 16, 2025

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Image of poshn — Anit Kunj Gupta Takes the Helm as the Senior Director of Finance & Accounts at Poshn

Poshn, an innovative company focused on revolutionizing the food value chain, has announced the appointment of Anit Kunj Gupta as Senior Director of Finance & Accounts. With almost two decades of experience in financial planning, sourcing finance for FMCG, and strategic advisory, Anit’s arrival is expected to significantly enhance Poshn’s financial structure and play a key role in driving the company toward its goal of becoming a global leader in the food value chain.

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Anit brings a wealth of expertise in the food supply chain industry, having worked alongside SMEs to improve operational efficiencies and increase profitability. His deep knowledge of the sector, coupled with a proven history of streamlining processes for small and medium-sized enterprises, makes him a crucial asset for Poshn as the company continues its ambitious growth plans. He has held prominent finance roles at companies like Zydus Wellness, Whirlpool, Udaan, and Carlsberg Group.

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Shashank Singh, Co-founder of Poshn, shared, “We are excited to welcome Anit to the Poshn team. His extensive background in food supply chain management and experience with SMEs will be pivotal in shaping Poshn’s future. Anit’s expertise in FMCG and sourcing finance will strengthen our position as a global leader in the food value chain. We are confident that his leadership will drive sustainable growth, operational excellence, and create significant value for our stakeholders.”

Anit Kunj Gupta, Senior Director of Finance & Accounts at Poshn, expressed, “I am excited to be joining Poshn at such an important time in its journey. The company’s mission to simplify the food value chain aligns with my professional values. I look forward to using my experience in food supply chain finance and collaborating with SMEs to build strong financial systems and support Poshn’s global expansion.”

Founded in 2020 by Shashank Singh and Bhuvnesh Gupta, Poshn offers comprehensive solutions for wholesale agro-commodities through a streamlined platform that connects buyers, millers, and stockists. With a focus on innovation, Poshn is committed to optimizing the food value chain while maintaining high standards of governance and operational efficiency.

The company has raised $8 million in equity and an additional $8 million in debt in its pre-Series A round, co-led by Prime Venture Partners and Zephyr Peacock India. This funding is enabling Poshn to empower SMEs and optimize food supply chains across the country. In addition to its current business, Poshn is focused on expanding its private label business and entering new markets.

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