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Zimyo’s New Power Trio: Key Execs Promoted to Accelerate Growth

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Zimyo’s New Power Trio: Key Execs Promoted to Accelerate Growth

SaaS platform Zimyo has made key leadership changes as it ramps up its global expansion plans. Naresh Gupta, the company’s VP of Finance, has been promoted to Co-Founder and Chief Finance Officer (CFO). 

Meanwhile, Mayank Singh has stepped into the role of Chief Business Officer (CBO), and Vinay Kumar has been appointed Chief Technology Officer (CTO).

Zimyo’s Broader Mission 

These strategic appointments are part of Zimyo’s broader mission to strengthen its presence internationally while maintaining a strong foothold in the Indian market, where the company is eyeing an IPO in the SMB segment by 2027. 

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Founder and CEO Kumar Mayank explained, “These promotions are a part of our ongoing effort to solidify our position in global markets, while also ensuring continued success in transforming workforce management solutions worldwide.”

Top Executive Opines on this Change 

Gupta, now a Co-Founder and CFO, has played a crucial role in shaping Zimyo’s financial strategy, including fundraising. In his expanded role, he will continue driving operational efficiency and revenue growth, now with added responsibility for Customer Success alongside Finance.

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Kumar, promoted to CTO, has been at the forefront of driving technological advancements at Zimyo. His focus will now be on enhancing the company’s offerings with cutting-edge AI features to stay ahead in the competitive market. Singh, who has led Zimyo’s international growth efforts since its expansion, will now focus on accelerating the company’s market penetration globally, ensuring that Zimyo’s business development strategy aligns with its long-term goals.

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Cocoa’s Stunning Rise Beats Bitcoin in 2024 Performance

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Cocoa’s Stunning Rise Beats Bitcoin in 2024 Performance

Cocoa has emerged as the top performer of the year, surpassing even Bitcoin, according to Bloomberg. While Bitcoin captured widespread attention, especially after crossing the long-awaited $100,000 mark in December, cocoa prices saw an even more remarkable surge.

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Cocoa Prices Have Skyrocketed 

As of early 2024, cocoa prices have more than doubled, driven by a significant shortage in supply from West Africa, the world’s largest cocoa-producing region. Bloomberg cites exchange data to explain that this disruption in production has been a major factor in the price spike.

By early January, cocoa futures were trading at nearly $4,000 per tonne. Prices peaked in mid-December, hitting an astounding $12,700 per tonne, as reported by Trading Economics.

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Bitcoin Gains Modest 

In comparison, Bitcoin’s gains seem modest. The popular cryptocurrency, which remains the largest by market cap, saw an increase of around 128%. Bitcoin rose from just over $41,000 at the start of the year to a peak of $106,500 in December. Its rebound has been fueled by investor optimism surrounding potential crypto-friendly policies under the incoming Trump administration, according to MarketWatch.

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Abhishek Bachchan Invests in the European T20 League, Boosting Cricket’s Global Appeal

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Abhishek Bachchan Invests in the European T20 League, Boosting Cricket’s Global Appeal

Abhishek Bachchan, known for his versatility as an actor, his entrepreneurial spirit, and his love for sports, has taken a significant step in the world of cricket.

 He has invested in the European T20 Premier League (ETPL), a private franchise tournament recognized by the International Cricket Council (ICC). Set to take place from July 15 to August 3, 2025, the tournament will feature teams from Ireland, Scotland, and the Netherlands, along with a host of international players.

The European T 20 League 

The ETPL’s development is being overseen by a working group consisting of representatives from the participating cricket boards and Rules Sport Tech, a strategic partner handling funding and operational details. The group is currently wrapping up the organizational framework and operational planning for the event.

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In a statement about his involvement with the European T20 Premier League, Bachchan shared, “Cricket is more than just a game—it brings people together in ways few other things can. The ETPL provides a brilliant platform to highlight the expanding global reach of cricket. With the sport’s inclusion in the 2028 Olympics, its global appeal is only set to grow. I am thrilled to be part of this collaboration between the cricket boards of Ireland, Scotland, and the Netherlands.

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 “I have full confidence in our team and their efforts to make this tournament a success. I’d like to thank the ICC and the boards for their tireless work, and I’m eager to roll up my sleeves alongside everyone involved to ensure the ETPL reaches its full potential, bringing cricket closer to fans all across Europe.”

Warren Deutrom, CEO of Cricket Ireland and Chair of the ETPL, expressed enthusiasm over Bachchan’s involvement: “It’s fantastic to have Abhishek Bachchan join us as a co-owner of the ETPL. His passion for sports, coupled with his business expertise, will be invaluable in raising the profile of European cricket.”

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Small Businesses Go Digital: ONDC’s 7 Lakh Seller Milestone

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Small Businesses Go Digital: ONDC’s 7 Lakh Seller Milestone

The Open Network for Digital Commerce (OND) has reached a significant milestone, with more than seven lakh sellers and service providers now onboard, the government announced on Thursday. 

Launched in 2021, this initiative was designed to make digital commerce more accessible to smaller players, giving them a platform to thrive in the digital economy.

PM Lauds ONDC

Prime Minister Narendra Modi emphasized ONDC’s role in boosting small businesses, calling it a game-changer for the e-commerce landscape. In a statement on X, Commerce and Industry Minister Piyush Goyal highlighted how the platform has leveled the playing field for small enterprises over the past three years, allowing them to compete effectively.

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About ONDC

With a goal to create a more open and inclusive retail environment, ONDC helps small retailers access e-commerce tools while reducing the influence of larger industry players. As a non-profit, ONDC has established standards for voluntary adoption by sellers, logistics providers, and payment gateways.

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In response to Goyal’s remarks, Modi reiterated that ONDC has not only empowered small businesses but also revolutionized e-commerce, contributing significantly to growth and prosperity in the sector. With over 150 million transactions completed and more than 200 participants in the network, ONDC continues to drive change in the digital commerce space.

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World Braille Day: Taj Mahal Leads the Way in Inclusive Hospitality

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World Braille Day: Taj Mahal Leads the Way in Inclusive Hospitality

On World Braille Day, January 4, 2025, Taj Mahal, New Delhi reaffirmed its dedication to diversity, inclusion, and accessibility with new initiatives that set fresh standards in hospitality. 

In celebration of the day, the hotel invited guests to explore menus in Braille across all its renowned restaurants, ensuring that everyone could enjoy the independence and dignity of an inclusive dining experience. This effort is a reimagining of what thoughtful hospitality means, with accessibility at its heart.

A Beautiful Initiative 

Earlier in the year, the hotel introduced Braille menus throughout its restaurants as part of its ongoing efforts to make luxury dining available to all. Additionally, Taj Mahal launched the Taj Swagat Manual, an induction guide for new colleagues at the hotel. Available in Braille and supported by Indian Sign Language (ISL), the manual emphasizes Taj Mahal’s continuous drive to create welcoming spaces for everyone, including its employees.

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Top Executive Opines on this Initiative 

Reflecting on these initiatives, Anmol Ahluwalia, area director – operations and general manager at Taj Mahal, New Delhi, emphasized, “World Braille Day is a powerful reminder of the importance of inclusivity in every sphere of life, especially in hospitality. At Taj Mahal, New Delhi, we believe that true luxury lies in creating experiences where every individual feels valued and empowered. 

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From offering menus in Braille to introducing the Taj Swagat Manual, our initiatives aim to inspire a culture of accessibility and respect. Hospitality is about enriching lives and building connections, and we are proud to lead by example in making inclusion a cornerstone of luxury.”

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Ritesh Agarwal Pumps $65 Million Into OYO—Talk About a Hotel Room Upgrade!

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Ritesh Agarwal Pumps $65 Million Into OYO—Talk About a Hotel Room Upgrade!

OYO, the hospitality giant, has secured INR 550 Crore (roughly $65 million) in funding from Redsprig Innovation Partners, the venture capital firm founded by OYO’s CEO, Ritesh Agarwal. This marks a significant move in Agarwal’s ongoing efforts to increase his stake in the company, a plan first reported by Inc42 in November 2024.

OYO Raised a Huge Amount 

According to filings with the Ministry of Corporate Affairs, OYO issued 12.91 crore equity shares at a price of INR 42.6 each to raise the funds. The company intends to use this capital to accelerate its growth plans, support its international expansion, make strategic acquisitions, and further enhance its business operations. This equity offering will lead to a slight dilution of the company, reducing the total stake by 1.728%.

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In addition to this raise, Nuvama Wealth & Investment Limited, formerly known as Edelweiss Securities, recently purchased INR 100 Crore worth of OYO shares on behalf of a consortium of family offices. This comes amid growing market interest following OYO’s recent profitability, which has caught the eye of several potential investors.

Positive Momentum for OYO

The positive momentum for OYO is also reflected in the recent upgrade of its corporate family rating by Moody’s from “B3” to “B2.”

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Founded in 2012 by Ritesh Agarwal, OYO has grown into a hospitality powerhouse, offering a broad portfolio of over 40 integrated products and solutions. The company currently manages more than 157,000 hotels and home properties across 35 countries, including India, Europe, and Southeast Asia.

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Dunzo’s Final Delivery: A Debt-Driven Search for a Saviour

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Dunzo’s Final Delivery: A Debt-Driven Search for a Saviour

Hyperlocal delivery platform Dunzo is reportedly exploring a potential sale to address its mounting financial challenges. The company has reached out to major players like Reliance Retail, Flipkart, PhonePe, and Swiggy, seeking a buyer to take over its debt and liabilities.

Dunzo is searching for an acquirer

According to a report by Arc Web, Dunzo is searching for an acquirer willing to take on its ₹600 crore debt and outstanding vendor payments in exchange for ownership of the business. Despite its financial troubles, the report claims the company has achieved operational profitability, handling 40,000 to 50,000 deliveries per day.

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This comes amid rumors of co-founder and CEO Kabeer Biswas considering an exit from the company. Earlier reports suggested that Reliance Retail had contemplated acquiring Dunzo at a significantly reduced valuation, but the deal never materialized. In July, Biswas informed employees that Reliance and other investors had committed to fresh funding, which ultimately fell through.

The fundraising process had hit a dead end

In August, Biswas acknowledged to employees that the fundraising process had hit a dead end, leaving the company in a precarious financial position. Reliance reportedly stepped back from negotiations due to the burden of Dunzo’s debt.

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The fallout has pushed the company closer to insolvency. Two creditors—Invoice Discounters of Dunzo Digital and Velvin Packaging—have already initiated insolvency proceedings against the startup over unpaid dues. Dunzo’s financial struggles mark a stark contrast to its earlier ambitions in the competitive quick commerce space. With no funding lifeline in sight, the company’s future now hinges on finding a buyer willing to shoulder its liabilities.

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Dunzo’s Loss, Flipkart’s Gain: Biswas Joins the Quick Commerce Battle

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Dunzo’s Loss, Flipkart’s Gain: Biswas Joins the Quick Commerce Battle

Kabeer Biswas, the co-founder of Dunzo, is stepping into a new chapter as he joins Flipkart Minutes, the quick commerce division of Walmart-owned Flipkart, as head of operations, according to a report by Moneycontrol. 

After nearly a decade of building and leading Dunzo, which he co-founded in 2014, Biswas is returning to the fast-paced world of instant delivery, this time with one of the biggest names in e-commerce.

A Challenging Time for Dunzo

His move comes at a challenging time for Dunzo, which has been scaling back operations amidst intense competition from players like Swiggy Instamart, Blinkit (owned by Zomato), and BigBasket. 

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Despite raising significant funds—over $400 million from backers like Reliance, Google, and Blume Ventures—the company struggled with high cash burn and couldn’t maintain its footing in the hyperlocal delivery space. Biswas, the last remaining co-founder, recently decided to step away as the company navigates its next phase.

About Flipkart Minutes 

Flipkart Minutes, which launched in August 2024, is a relatively new entrant in the quick commerce market, but the decision to bring in Biswas underscores Flipkart’s commitment to strengthening its position. With his vast experience in the rapid delivery industry, Biswas is expected to inject fresh energy and strategic direction into the business. 

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His tenure at Dunzo, where he helped the brand become a household name in hyperlocal delivery, positions him as a valuable asset for Flipkart Minutes, which is looking to compete with established players like Blinkit and Swiggy Instamart.

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Funding Frenzy: 14 Startups Secure $33 Million in December-January Stretch

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Funding Frenzy: 14 Startups Secure $33 Million in December-January Stretch

Between December 30 and January 4, 2025, a total of 14 startups spanning various industries secured $33.43 million in funding. These sectors ranged from hospitality and finance to robotics, AI, and wealth management. The previous week saw Indian startups raising more than $44 million, with a significant chunk of that—$20 million—going to EPACK Prefab.

Sectors that attracted the most investor interest

Among the sectors that attracted the most investor interest, non-banking financial companies (NBFCs) led the charge. Mufin Green Finance stood out with a hefty $18 million in funding, while SME lender Aye Finance followed with $12.8 million.

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Other noteworthy raises came from Wealthy Nivesh, a wealth management firm that secured $1 million, B2B logistics platform CargoFL, which raised $780,000, and Guestara, a hospitality startup, which brought in $500,000. In total, these companies collectively raised over $2.28 million.

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Additionally, NumberOne Academy raised $350,000, and while robotics startup Flo Mobility and OTT platform Klassroom secured funding, the exact amounts have not been disclosed.

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No Ring, No Room: Unmarried Couples Face the Door at OYO Hotels

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No Ring, No Room: Unmarried Couples Face the Door at OYO Hotels

OYO has introduced a new check-in rule for its partner hotels in Meerut, requiring couples to provide proof of their relationship before being allowed to stay. Reports suggest that unmarried couples will now be denied check-in privileges, even for online reservations.

New Policy Brings Big Changes

The policy grants hotel operators the freedom to decline couple bookings based on their own judgment and adherence to local cultural values. According to OYO, this decision comes in response to appeals from community groups and residents in Meerut and other cities, who have urged stricter controls on hotel stays for unmarried couples.

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Pawas Sharma, OYO’s Regional Head for North India, explained the reasoning behind the decision: “Our goal is to maintain a safe and responsible environment at our properties. While personal freedoms are important, we are committed to collaborating with local stakeholders, including law enforcement, to address community concerns. We will continue to monitor and adjust this policy as needed.”

Part of OYO’s New Strategy 

The initiative is part of OYO’s larger plan to move away from its earlier reputation and position itself as a trusted option for families, business travelers, students, and religious tourists.

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In addition to the new rules, OYO has also launched several campaigns to promote safe practices. These include hosting workshops with police and hotel staff, banning hotels involved in unethical activities, and investigating unauthorized properties operating under the OYO brand. This approach aims to ensure transparency and strengthen trust among its customers.

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