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Truemeds Bags $85 Million from Accel, Peak XV to Double Fulfilment Network to 50 Hubs, Eyes Non-Metro Domination

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Truemeds Bags $85 Million from Accel, Peak XV to Double Fulfilment Network to 50 Hubs, Eyes Non-Metro Domination

Truemeds, the Mumbai-based telehealth and e-pharmacy platform, has closed an $85 million Series C funding round, cementing its position as one of the fastest-scaling players in India’s chronic care medicine segment. The round was led by Accel and Peak XV Partners, with continued backing from WestBridge Capital and Info Edge Ventures.

The fresh capital includes $65 million in primary infusion for expansion and $20 million in secondary share sales, allowing early investors to exit. Founded in 2019 by Akshat Nayyar and Dr Kunal Wani, the company aims to aggressively widen its national presence, scaling its fulfillment network from 19 to 50 centers within the next 12 months. It also plans to set up a technology hub in Bengaluru, hire across engineering and product teams, and introduce diagnostic services in the coming months.

Targeting India’s planned-care market, Truemeds focuses on patients managing long-term conditions like diabetes, hypertension and cardiovascular diseases. Its model offers clinically approved, lower-cost alternatives to branded drugs, claiming to cut monthly medicine bills by 50 to 70 percent. The platform currently handles about 600,000 orders a month and connects with roughly 600 doctors every day, with a growing share of its user base coming from non-metro regions.

Co-founder and CEO Nayyar said the company’s goal is to make quality medicines affordable for every patient in the country, particularly in regions where access remains limited. The new funding, he added, would strengthen operations and deepen penetration into underserved markets.

Accel partner Abhinav Chaturvedi noted that affordability remains a critical challenge in India’s healthcare sector, despite rapid modernization. Peak XV’s managing director Sakshi Chopra called Truemeds’ approach “transformative” for chronic care delivery, highlighting its ability to blend technology, clinical expertise and logistics to bring essential medicines to millions who need them most.

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MyDesignation Targets ₹400 Cr by FY28, 20 New Stores & Overseas Debut in UAE, UK, US on Cards

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MyDesignation Targets ₹400 Cr by FY28, 20 New Stores & Overseas Debut in UAE, UK, US on Cards

Thiruvananthapuram-based D2C fashion label MyDesignation is preparing for its most aggressive expansion yet, with a target to hit Rs 100 crore in annual recurring revenue by March 2026 and plans to launch in the UAE, UK and US later this year.

Founded in 2019 by husband-wife duo Swaroop Krishnan and Gopika Menon, the brand blends Kerala’s cultural motifs with global streetwear influences under the tagline Wear Your Vibe. Operating on a direct-to-consumer model, MyDesignation has served nearly 500,000 customers, aiming to double that figure within 12 months.

The company raised Rs 10.7 crore in seed funding from Multiply Ventures, Veltis Capital, Sattva Ventures, Dominor Investment Holdings and Green Trunk Ventures. Since the funding closed, revenue has scaled nearly fivefold in five months, with current ARR standing at Rs 60 crore. FY 2024–25 revenue was Rs 16 crore, up from Rs 7.5 crore the previous year.

Over 90 percent of sales come from the brand’s website, with the balance from three profitable outlets in Lulu Malls across Kerala. Each store operates at 20 to 25 percent margins without offline ad spends. Expansion plans include 20 new outlets in the next year, starting with Bengaluru’s Indiranagar, followed by Mumbai and Hyderabad.

Shirts account for 60 percent of revenue, with T-shirts, oversized tees, jackets and bottoms making up the rest. Monthly repeat purchases hover at 30 to 35 percent. The brand’s eco-conscious practices include using only natural fabrics and dyes, avoiding plastic, sending seed packets with orders and planting one tree for every 100 purchases.

By FY 2028, MyDesignation aims to reach Rs 400 crore in revenue, supported by a planned Series A fundraise next year to accelerate offline and overseas growth.

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Blinkit’s Albinder Dhindsa Nets ₹214 Cr in Eternal’s Biggest Esop Exercise Since Listing

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Blinkit’s Albinder Dhindsa Nets ₹214 Cr in Eternal’s Biggest Esop Exercise Since Listing

Over 140 executives at Eternal, the parent of Zomato and Blinkit, have converted employee stock options worth ₹419 crore in a two-day window on July 29 and 30, stock exchange filings show. Blinkit chief executive Albinder Dhindsa accounted for more than half the total, acquiring seven million shares worth ₹214.51 crore.

Thirty-one other senior leaders each exercised options worth over ₹1 crore. This group included Hyperpure CEO Rishi Arora, former Zomato food delivery head Rakesh Ranjan, his successor Aditya Mangla, and corporate development chief Kunal Swarup. Collectively, the top 32 executives bought shares worth ₹378.50 crore, representing 90 percent of the total. Nearly half were from Blinkit, the rest split between Eternal, Zomato, Hyperpure, and the going-out business District.

Eternal’s stock closed Friday at ₹300.80, valuing the company at ₹2.9 lakh crore, its highest in seven months. Analysts say rising share prices often prompt executives to exercise vested Esops, especially when strike prices are well below market value.

Blinkit’s performance has strengthened that confidence. For the quarter ended June 30, Blinkit’s gross order value surged 140 percent year-on-year to ₹11,821 crore, surpassing Zomato’s ₹10,769 crore for the first time. However, rapid expansion, including 243 new dark stores in the quarter, pulled Eternal’s net profit down 90 percent to ₹25 crore.

The company now operates 1,544 dark stores and aims to reach 2,000 by December, with a long-term plan for 3,000. Brokerage Goldman Sachs expects Blinkit to keep gaining market share over the next three quarters as rivals focus on profitability.

Eternal, which went public in 2021 with a ₹9,375-crore IPO, has been among the top wealth creators in India’s internet economy, using stock incentives to retain leadership and reward performance.

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Barista Coffee Brews Rs 400 Cr Ambition for FY26 with 25–30% Surge, 40 New Stores, and Healthy Menu Push

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Barista Coffee Brews Rs 400 Cr Ambition for FY26 with 25–30% Surge, 40 New Stores, and Healthy Menu Push

Barista Coffee is brewing an ambitious growth story this year, with plans to notch up 25 to 30 per cent higher revenue and close FY26 at around Rs 400 crore. The homegrown coffee chain ended last fiscal at roughly Rs 290 crore and says it has been the only player in India’s café segment consistently delivering double-digit like-to-like growth.

Chief executive Rajat Agrawal credits the momentum to a sharper product mix, a bigger bet on healthy food and beverages, and fresh revenue streams such as merchandising and a growing non-coffee portfolio. Around 20 to 30 per cent of its beverage menu is non-coffee, while food now brings in 23 to 24 per cent of overall sales. Stores with live kitchens — currently 10 per cent of its network — have seen a 5 to 6 per cent lift in demand, according to Agrawal.

Barista’s average order value hovers between Rs 425 and Rs 475, with a near-even split between online and dine-in orders at 55:45. The company also reports that proprietary and co-branded products now contribute between 5 and 10 per cent of revenue.

Expansion remains central to its plan. From 480 stores across 165 cities, Barista aims to cross 520 outlets by year-end, largely through franchise partners. Quick commerce and the vending machine business are being scaled to capture more on-the-go consumption.

Agrawal says the brand’s regional spread will also get more diverse this year, moving beyond its traditional strongholds. “It is about making the coffee experience accessible wherever the customer is — in malls, high streets, offices, or even at home,” he said.

With a tighter menu, healthier options, and a broader reach, Barista is positioning itself for a bigger slice of India’s growing café market — one espresso, smoothie, and fresh salad at a time.

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Deep Bajaj Buys Back Sirona from Good Glamm, Targets Rs 500 Cr Revenue in 5 Years with Femtech Push

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Deep Bajaj Buys Back Sirona from Good Glamm, Targets Rs 500 Cr Revenue in 5 Years with Femtech Push

In a rare move in India’s personal care industry, entrepreneur Deep Bajaj has bought back Sirona Hygiene Pvt. Ltd. from the Good Glamm Group, regaining full control of the femtech brand he founded. The acquisition sets the stage for a renewed growth strategy aimed at deepening its presence in the women’s intimate hygiene segment, with a revenue target of Rs 500 crore over the next three to five years.

Sirona, best known for products such as PeeBuddy, menstrual cups, period patches, and intimate wipes, was acquired by Good Glamm in 2021. Bajaj’s return as head of the company marks what he calls “unfinished business” — a push to innovate with speed and precision in a sector that still faces significant awareness gaps in India.

The company is now streamlining its portfolio to focus on high-performing categories while investing in research and development. Quick commerce is emerging as a strategic growth channel, with products now available on Blinkit and Zepto to meet “urgent need” purchases, from period essentials to hygiene wipes. Repeat purchase rates on these platforms have been steadily rising, according to company data.

Beyond online, Sirona is expanding into offline formats including wellness stores, pharmacies, airport lounges, and educational institutions to ensure discreet, immediate access to products. The brand has also built a WhatsApp-based period tracker with over 4 lakh users, reflecting its push into tech-led engagement and personalised care.

Bajaj has raised $13.2 million in funding so far and is prioritising profitability alongside purpose. Former team members have rejoined since the buyback, signalling renewed cultural alignment.

By FY30, Bajaj envisions Sirona as a trusted household name, covering the full spectrum of intimate care needs. “Our goal is to be present in every moment where hygiene matters,” he said.

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Zepto Enters ₹25,000-Crore Online Pharmacy Race, Pitches 10-Minute Medicines in Mumbai, Delhi, Bengaluru and Hyderabad

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Zepto Enters ₹25,000-Crore Online Pharmacy Race, Pitches 10-Minute Medicines in Mumbai, Delhi, Bengaluru and Hyderabad

Zepto, the quick-commerce unicorn known for its 10-minute grocery runs, has now set its sights on your medicine cabinet. The company on Thursday rolled out Zepto Pharmacy in select areas of Mumbai, Bengaluru, Delhi-NCR and Hyderabad, with a promise to deliver prescription and over-the-counter medicines in as little as 10 minutes.

Co-founder and CEO Aadit Palicha said the launch comes after a year-long pilot designed to fine-tune the notoriously tricky business of pharmaceutical delivery. “Over the past 12 months, we have worked to perfect the customer experience, supply chain and compliance on a small scale. Now we will grow steadily, without rushing expansion, because of the complexity of this category,” Palicha said in a LinkedIn post.

The pilot phase focused on building partnerships with licensed vendors, strengthening cold-chain logistics for temperature-sensitive drugs, and ensuring deliveries met regulatory standards. The company has not disclosed the number of partner pharmacies or the size of its delivery fleet for the segment but insiders say Zepto will initially cover only high-density urban clusters before widening its footprint.

By stepping into the online medicine market, Zepto is taking on heavyweights such as Tata 1mg, PharmEasy and Apollo 24/7, all of which offer same-day or next-day deliveries. Other quick-commerce players like Blinkit and Swiggy Instamart have also dabbled in the category, though none have fully committed to a 10-minute promise at scale.

India’s online pharmacy market, valued at over ₹25,000 crore in 2024, is projected to grow at double-digit rates over the next five years, driven by rising health awareness, expanding digital adoption, and demand for instant fulfilment. For Zepto, the move not only diversifies its business beyond groceries but could cement its position as the fastest delivery platform in multiple essential categories.

The real test begins now: keeping the promise while keeping compliance intact.

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Bhumi Pednekar Enters India’s 13.2% CAGR Hydration Market with Backbay Aqua in Plant-Based FSC Cartons

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Bhumi Pednekar Enters India’s 13.2% CAGR Hydration Market with Backbay Aqua in Plant-Based FSC Cartons

Bhumi Pednekar and her sister Samiksha are stepping into India’s fast-growing premium hydration market with a brand that puts clean water and clean packaging at its core. Their new venture, Backbay, will debut at the end of August in select cities, backed by a retail and quick-commerce push through Swiggy Instamart, Zepto, Amazon, the brand’s own D2C site, and premium grocers including Nature’s Basket and Foodstories.

The sisters are targeting a category projected to grow at 13.2 percent CAGR through 2028, driven by consumer demand for gut-friendly, eco-conscious products. Backbay’s first offering is natural mineral water sourced from a protected Himalayan reservoir. Fed by glacial melt and filtered through mineral-rich rock formations, the water naturally contains magnesium, calcium and potassium.

In a market dominated by plastic bottles and opaque sourcing claims, Backbay is positioning itself as a transparent, sustainable option. The product comes in FSC-certified paperboard cartons with plant-based caps made from sugarcane resin. The packaging is heat-resistant, leak-proof and designed to withstand India’s climate without chemical leaching.

The 500 ml carton is aimed at on-the-go consumers, while the 750 ml size is designed for homes, offices, restaurants and wellness spaces. Production takes place in a women-led facility at the Himalayan source, a move the founders say reflects their values of integrity and community impact.

Bhumi, known for her environmental advocacy, says bottled water has lacked innovation and trust despite being the most consumed beverage. Samiksha adds that the category is crowded with vague claims and plastic pollution, leaving a gap for a brand rooted in conscious sourcing and thoughtful design.

Backbay is entering a crowded but shifting space, where functional hydration and sustainability are no longer niche but mainstream expectations. Its challenge now will be turning premium water into an everyday choice for India’s health-conscious and climate-aware consumers.

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India’s Biggest Luxury Retailer Hits a Slow Lane — Reliance Brands’ FY25 Growth Halves, Losses at ₹279 Cr

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India’s Biggest Luxury Retailer Hits a Slow Lane — Reliance Brands’ FY25 Growth Halves, Losses at ₹279 Cr

Reliance’s luxury retail arm is feeling the pinch as India’s appetite for high-end fashion and premium brands cools. Reliance Brands Ltd, the Mukesh Ambani-owned company that manages some of the world’s most coveted labels in India, reported muted sales growth of just 5 percent in FY25, reaching ₹2,616 crore. That’s less than half the 12 percent growth it clocked in the previous fiscal year.

The slowdown comes amid a broader dip in discretionary spending, with consumers holding back on big-ticket purchases in categories like luxury fashion, accessories and premium dining. While top-line growth stalled, the company managed to trim its red ink slightly, narrowing annual losses to ₹279 crore.

Reliance Brands, set up in 2007, has long been the country’s biggest luxury retailer, with exclusive rights to more than 85 global names. Its portfolio reads like a who’s who of high fashion and lifestyle — Burberry, Jimmy Choo, Coach, Diesel, Kate Spade, Versace, Bottega Veneta, Tiffany & Co, Pret A Manger and more.

The company’s annual report highlighted new brand tie-ups and the international rollout of its own intellectual properties as key moves during the year. Industry insiders say the push to expand beyond India is aimed at offsetting the slower growth at home, where rising inflation and shifting consumer priorities have dented demand for premium goods.

Reliance Brands’ size still gives it an edge. With control over the largest luxury brand portfolio in the country and deep pockets to weather downturns, it remains the go-to partner for global names eyeing India. But with FY25 numbers reflecting a sharper-than-expected slowdown, the challenge ahead will be reigniting growth without compromising profitability.

For now, the luxury giant appears focused on keeping its brand mix fresh, growing globally, and waiting for India’s high-spending consumer to return in full force.

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Reliance Campa’s Aggression Triggers ₹12,500 Crore Counterstrike as Coca-Cola, Jubilant Bhartia Tighten Costs, Expand Reach

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Reliance Campa’s Aggression Triggers ₹12,500 Crore Counterstrike as Coca-Cola, Jubilant Bhartia Tighten Costs, Expand Reach

Coca-Cola and Jubilant Bhartia Group are gearing up for a sharper push on profitability in India’s high-stakes beverage market, just weeks after sealing a landmark deal. The focus is on trimming manufacturing costs, strengthening last-mile distribution and locking in better supplier terms to counter mounting competition.

On July 23, Jubilant Beverages, part of the Jubilant Bhartia Group, completed the acquisition of a 40 per cent stake in Hindustan Coca-Cola Holdings (HCCH), the parent of Hindustan Coca-Cola Beverages (HCCB), Coca-Cola’s largest bottler in India. The ₹12,500 crore transaction marks the group’s biggest investment to date. While Jubilant now holds a significant minority stake, HCCB will remain under the oversight of its board.

A leadership change is also in play. Hemant Rupani, former president of Mondelez Southeast Asia, will take over as CEO of HCCB on September 8, replacing Juan Pablo Rodriguez. Coca-Cola’s global chief, James Quincey, said during an earnings call that the tie-up with Jubilant would inject “energy, dynamism and focus” into the India operations, backed by strong marketing and innovation plans.

The move comes at a time when Reliance’s Campa Cola is on an aggressive national rollout, acquiring and building plants to challenge incumbents. Regional names like Lahori, Bindu, Storia, Roastea, Pluckk and Tru are also chipping away at market share with localised flavours and value pricing. Lahori, for instance, is pushing traditional favourites like zeera, nimboo and shikanji, while Coca-Cola and PepsiCo have responded with smaller packs and low or no-sugar variants.

India’s packaged beverages segment is expanding beyond colas into juices, flavoured waters, herbal teas, sports drinks and ready-to-drink coffees. Seasonal factors such as early monsoons have added further pressure on summer sales, making efficiency and distribution muscle more critical than ever for the big players.

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RENEE Cosmetics Hits ₹1,755 Cr Valuation After Fresh $30 Mn Raise, Plans Global Push & Offline Surge

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RENEE Cosmetics Hits ₹1,755 Cr Valuation After Fresh $30 Mn Raise, Plans Global Push & Offline Surge

Mumbai-based beauty brand RENEE Cosmetics has raised $30 million (approximately ₹263 crore) in its latest Series C funding round, lifting its valuation to $200 million (₹1,755 crore). The round was led by Playbook, with secondary transactions by Midas, marking a near 50 percent jump in valuation from its previous fundraise in June 2024.

Founded in 2018 by television actor-turned-entrepreneur Aashka Goradia Goble along with Beardo co-founders Ashutosh Valani and Priyank Shah, RENEE has emerged as one of the fastest-growing direct-to-consumer players in India’s crowded beauty and personal care space.

The company plans to use the fresh capital to widen its offline footprint in tier I and II cities, launch new product lines, and ramp up technology investments. RENEE currently offers over 200 SKUs across categories such as lipsticks, eye makeup, serums, highlighters, and perfumes. The products are available online, in general and modern trade stores, and via quick commerce platforms.

Ashutosh Valani, co-founder of RENEE, said the company has reached an annualised revenue run rate (ARR) of ₹500 crore and is eyeing ₹1,000 crore within two years. “We’re focused on improving conversion and lowering customer acquisition costs across both D2C and marketplaces,” he added.

RENEE’s current distribution spans 15,000 retail outlets, and the brand has also begun testing international waters with early launches in the US, UAE, and Australia.

This latest fundraise follows a string of successful rounds, including ₹100 crore in an extended Series B round from Evolvence India and Edelweiss Group. The brand also previously raised $25 million and $10 million in Series B and Series A rounds, respectively.

RENEE competes with Sugar Cosmetics, MyGlamm, and Tira, all of which are actively scaling in India’s $25 billion beauty market.

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