Hyundai & Kia Dump Rs 690 Cr Stake in Ola Electric as Losses Mount to Rs 2,276 Cr in FY25

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June 5, 2025

Image of vehicle — Hyundai & Kia Dump Rs 690 Cr Stake in Ola Electric as Losses Mount to Rs 2,276 Cr in FY25

In a notable shift, Hyundai Motor and Kia Corporation have divested their entire stakes in Ola Electric Mobility, exiting with a combined share sale worth Rs 690 crore, according to bulk deal data from the National Stock Exchange (NSE).

Hyundai sold off 10.88 crore shares at Rs 50.70 each, generating Rs 552 crore, while Kia offloaded 2.71 crore shares at Rs 50.55 apiece, cashing in Rs 138 crore. As of the March-end filings, Hyundai and Kia held 2.47% and 0.62% stakes in Ola Electric respectively.

Among the buyers, Citigroup Global Markets Mauritius stood out, scooping up 8.61 crore shares worth Rs 435 crore at Rs 50.55, roughly 6% below Monday’s closing price of Rs 53.69.

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The timing of the exit raises eyebrows, especially with Ola Electric’s financials under increasing pressure. For the March 2025 quarter, the EV maker reported a consolidated net loss of Rs 870 crore, more than double the Rs 416 crore loss from the same quarter last year. Revenue took a nosedive too, falling by over 60% to Rs 611 crore.

On an annual basis, the company’s losses swelled to Rs 2,276 crore in FY25, up from Rs 1,584 crore the previous year. Revenue slipped as well—from Rs 5,010 crore to Rs 4,514 crore.

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Ola Electric’s market value has also taken a hit. Once celebrated in the lead-up to its IPO, the company’s market cap has now fallen to Rs 21,882 crore (approximately $2.57 billion), casting a shadow over its long-term trajectory in India’s growing EV landscape.

KiranaPro’s App Taken Down by Cyberattack Just Days After $1M Likeo Acquisition and Ahead of Seed Round Closure

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June 5, 2025

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Image-of-kirana-pro. — KiranaPro’s App Taken Down by Cyberattack Just Days After $1M Likeo Acquisition and Ahead of Seed Round Closure

In a major setback for ONDC-linked quick commerce player KiranaPro, a cyberattack has brought the company’s operations to a grinding halt for the past five days. The disruption comes at a particularly sensitive moment, just as the startup was finalizing its seed funding round.

Co-founder and CEO Deepak Ravindran confirmed that the breach—discovered on May 26 but believed to have occurred on May 24 and 25—wiped out critical backend code and compromised customer data. Since the outage, KiranaPro has been unable to process 2,000 daily orders or respond to over 1 lakh app download requests per day, stalling operations and putting business deals worth Rs 5 crore on pause.

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The team has reached out to GitHub to trace the attacker’s digital footprint, though the method of intrusion remains unclear. Ravindran said they are working around the clock and hope to have the app back online within 48 hours.

The timing couldn’t be worse. The incident has clouded investor confidence just as KiranaPro was in the final stages of raising capital.

Earlier this week—prior to the breach—the company had announced its acquisition of AR-tech startup Likeo (likeo.me) in a $1 million deal. As part of the acquisition, Likeo’s founder Saurav Kumar was set to lead KiranaPro’s AI and visual computing initiatives. The startup had also previously acquired Joper.app to strengthen its presence in the hyperlocal retail tech space.

Launched in 2024 by Deepak Ravindran and Deepankar Sarkar, KiranaPro operates on the government-backed Open Network for Digital Commerce (ONDC) and connects customers with local kirana stores and supermarkets. The startup is backed by TurboStart, Unpopular Ventures, Blume Ventures, and Snow Leopard Ventures, with angel investments from PV Sindhu and Arjun Vaidya.

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The breach, first reported by TechCrunch, has now cast a shadow over the company’s rapid growth story.

Naagin Hot Sauce Raises $2.1 Million in Funding Led by 360ONE Asset to Supercharge Manufacturing and Scale Operations

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Shweta

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June 5, 2025

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Indian hot sauce brand Naagin has secured $2.1 million in fresh funding as it looks to ramp up operations and meet rising demand. The latest round was spearheaded by venture capital firm 360ONE Asset, with continued backing from 8i Ventures and contributions from a select group of undisclosed angel investors.

With its bold take on Indian flavors and spice-forward recipes, Naagin has quickly carved a niche in the growing homegrown condiments market. The new funds will largely be used to scale up manufacturing and boost production capabilities—key moves as the company eyes deeper retail penetration and broader distribution across India and international markets.

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Founded with the aim of putting Indian chili sauces on the global culinary map, Naagin has grown steadily since launch, earning a loyal base of spice enthusiasts. The company’s leadership said the funding will also support team expansion, product innovation, and supply chain enhancements.

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As consumer interest in regional flavors and clean-label products continues to rise, Naagin’s funding marks a significant step toward becoming a dominant force in India’s premium condiments space.

Dakota Johnson Named Global Face of Roberto Coin in Glamorous $20 Million Campaign Shot in Venice

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June 5, 2025

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Image-of-Dakota-Johnson. — Dakota Johnson Named Global Face of Roberto Coin in Glamorous $20 Million Campaign Shot in Venice

On May 29, 2025, at an exclusive event in New York City, renowned Italian luxury jeweler Roberto Coin introduced Dakota Johnson as its new global brand ambassador. The announcement came with the reveal of a sweeping new campaign starring the acclaimed actress, designed to elevate the brand’s presence on the international stage.

The campaign, which officially launches in June and will roll out in two phases through May 2027, showcases Roberto Coin’s unique fusion of tradition and modernity. Johnson is seen wearing standout pieces from the house’s most celebrated collections, including Love in Verona, Venetian Princess, Navarra, Obelisco, Tiaré, and Cobra. The brand aims to spotlight the harmony of timeless Italian craftsmanship and contemporary design through her presence.

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Shot against the romantic backdrop of Venice, the visuals for the campaign were captured by the acclaimed British fashion photographer Craig McDean. Known for his natural light photography and ability to bring out the soul of his subjects, McDean’s lens frames Johnson in a light that feels both intimate and regal. The result is a visual story steeped in elegance and authenticity.

Roberto Coin, the founder of the eponymous brand, emphasized why Johnson was a natural fit. “Dakota has a rare kind of presence—she’s graceful, intuitive, and unapologetically herself. There’s a sincerity in her that mirrors our vision,” Coin shared. “This marks a bold new direction for us, one rooted in creative expression and emotional connection.”

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As the new face of the brand, Johnson will also take part in international appearances and creative projects with Roberto Coin, helping to usher in a new era for the label—one that promises bold storytelling, artistic evolution, and global resonance.

Nykaa Fashion Names Ishaan Khatter and Shanaya Kapoor as Brand Faces, Tapping Into Gen Z Style Energy

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June 4, 2025

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Image of nykaa fashion — Nykaa Fashion Names Ishaan Khatter and Shanaya Kapoor as Brand Faces, Tapping Into Gen Z Style Energy

Nykaa Fashion has just added two fresh names to its roster—Ishaan Khatter and Shanaya Kapoor are now officially the faces of the fashion platform. The announcement, made on Wednesday, signals a strategic move by Nykaa to align more closely with the bold, expressive fashion sensibilities of younger consumers.

Both Khatter and Kapoor bring more than just star power to the table. They embody a cross-cultural style language—effortlessly blending international edge with homegrown flair. This aesthetic is right in step with Nykaa Fashion’s growing catalogue of global cult brands and India’s rising designer talent, all handpicked to reflect the evolving wardrobe choices of a new generation.

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“Shanaya and Ishaan don’t just wear clothes—they wear confidence,” said Adwaita Nayar, Executive Director and CEO of Nykaa Fashion. “They’re fearless with their fashion, real with their choices, and always reinventing the rules. That’s exactly the kind of spirit we’re celebrating. This isn’t just a collaboration—it’s a conversation about style, identity, and finding joy in what you wear.”

Khatter, known for his offbeat fashion picks and sharp streetwear sense, sees this partnership as a natural extension of his style philosophy. “Style is how I show up—it’s personal, unpredictable, and always evolving. I love how Nykaa Fashion makes it easy to find pieces that match your vibe, whatever that may be.”

For Kapoor, fashion is fluid. “Some days it’s soft glam, some days it’s oversized sweats and sneakers. Nykaa Fashion lets me switch between moods with ease. It’s not about following trends—it’s about finding pieces that feel like you.”

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Originally launched in 2012 by entrepreneur Falguni Nayar as a beauty-focused e-commerce company, Nykaa has since grown into a full-fledged lifestyle platform. Its fashion vertical has become a major player in the space, with curated collections from over 1,500 brands, both Indian and international.

Alia Bhatt Teams Up with L’Oréal Paris to Launch New Casting Crème Gloss Range, Promising 5X Glossier Hair Without Ammonia

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June 4, 2025

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Image of loreal paris. — Alia Bhatt Teams Up with L’Oréal Paris to Launch New Casting Crème Gloss Range, Promising 5X Glossier Hair Without Ammonia

Fresh off her Cannes debut, Alia Bhatt steps into a new spotlight—this time as the face of L’Oréal Paris’ revamped Casting Crème Gloss line. The campaign, anchored in the bold statement “My Time To Shine… Is Now,” celebrates the confidence that comes from embracing change, with hair color as the spark.

The brand’s latest update to its much-loved range brings something exciting to the table: a no-ammonia formula enriched with the new Glycolic Gloss Complex. The result? Hair that looks glossier—up to five times more so—while feeling healthier and full of life. Grey strands are covered seamlessly, and what’s left behind is a rich, mirror-like finish that turns heads.

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In the campaign, Alia isn’t just endorsing a product—she’s living her transformation. With her signature charm, she owns every frame, showing off hair that’s bold, glossy, and unmistakably hers. Her message is clear: coloring your hair isn’t just about looks—it’s a moment of self-expression, a way to say, “I’ve arrived.”

Dario Zizzi, General Manager at L’Oréal Paris India, shared his thoughts on the collaboration: “Alia brings a vibrant authenticity that connects deeply with our audience. This campaign is more than just a product showcase—it’s a celebration of confidence, milestones, and the unique ways women choose to express themselves. We’re proud to continue pushing boundaries in beauty innovation.”

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With this launch, L’Oréal Paris doubles down on its promise: high-performance, science-led beauty products that champion individuality and personal growth. The campaign is an open invitation for women everywhere to take control of their narrative—and shine on their own terms.

Karan Aujla Joins Hands with PATRÓN Tequila as It Makes a Bold Move into India and the AMEA Region

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June 4, 2025

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Image of PATRÓN Tequila — Karan Aujla Joins Hands with PATRÓN Tequila as It Makes a Bold Move into India and the AMEA Region

PATRÓN Tequila is raising a toast to its growing global footprint by teaming up with Punjabi music heavyweight Karan Aujla. The partnership marks a major step in the brand’s expansion across India and the wider AMEA (Asia, Middle East, and Africa) markets. At the heart of this collaboration is the Indian debut of PATRÓN EL ALTO, a sophisticated blend that brings together Reposado, Añejo, and Extra Añejo tequilas.

The rollout kicks off with a high-energy launch party in Mumbai on June 6, where Aujla is set to take the stage. The night promises more than just music—a fleet of drones will light up the sky with a dramatic product reveal. Beyond the event, the campaign will unfold throughout the year with original content filmed at PATRÓN’s Mexican distillery, collaborations with creators and influencers, and a digital storytelling push across social platforms.

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Roberto Ramirez-Laverde, Global SVP at PATRÓN Tequila, said:

“Everything we do at PATRÓN is grounded in craft and care. We don’t cut corners, and we don’t settle. Karan’s rise—driven by grit, creativity, and refusal to be boxed in—mirrors what EL ALTO is all about. This isn’t just a product launch. It’s a shared mindset between an artist and a brand that know what it means to break new ground.”

Aujla shared his excitement as well:

“Nothing worthwhile happens overnight. You’ve got to put in the years, stick to your lane, and own your style. That’s what drew me to PATRÓN. It’s a brand that respects the grind and honors authenticity. I’m thrilled to partner with them and be part of this journey.”

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To further boost visibility, PATRÓN EL ALTO will be featured in travel retail spaces at Mumbai and Delhi airports through May and June 2025. With India’s international travel market expected to double in value by 2030, this move taps into a wave of upwardly mobile consumers seeking premium experiences. The tequila will also hit the shelves in select high-end stores across the country.

Pepperfry Bags ₹43.3 Cr Fresh Funding from Old Guards—GE Pension Trust Leads with ₹21.5 Cr

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June 4, 2025

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Image of pepperfry. — Pepperfry Bags ₹43.3 Cr Fresh Funding from Old Guards—GE Pension Trust Leads with ₹21.5 Cr

Mumbai-based furniture brand Pepperfry has quietly raised ₹43.3 crore (approx. $5.1 million) in fresh capital from its long-time backers, signaling ongoing investor confidence even as its IPO plans remain paused.

The latest round saw participation from familiar names—General Electric Pension Trust, Norwest Venture Partners, Goldman Sachs, Panthera Growth Partners, and the Growth Equity Opportunity Fund. GE Pension Trust led the charge with ₹21.5 crore, followed by ₹8.5 crore from Norwest and ₹6.4 crore from Panthera, according to regulatory filings accessed by Entrackr via the Registrar of Companies.

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The capital was raised through the allotment of about 5.6 lakh compulsorily convertible preference shares priced at ₹775 apiece.

This isn’t Pepperfry’s first dance with this group of investors. In September 2023, the same consortium infused $23 million into the business. And back in 2021, the company secured $45 million in debt funding to prepare for what was then a highly anticipated public listing.

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Founded in 2012, Pepperfry officially became a public entity in 2022 in anticipation of an IPO worth $250–300 million. But in 2024, those plans were shelved after market consultations, with co-founder Ashish Shah stating the focus had shifted toward strengthening fundamentals and driving profitability. For now, Pepperfry’s listing ambitions are on ice—but its backers clearly haven’t walked away.

Gully Labs Raises ₹8.7 Cr from Zeropearl VC, Stride Ventures, and Top D2C Founders to Take Indian-Inspired Sneakers Nationwide

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June 4, 2025

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Image of gully labs — Gully Labs Raises ₹8.7 Cr from Zeropearl VC, Stride Ventures, and Top D2C Founders to Take Indian-Inspired Sneakers Nationwide

Delhi-based footwear label Gully Labs just scored a fresh ₹8.7 crore in seed funding as it gears up to take its uniquely Indian sneaker story to more streets and stores across the country. The round includes ₹7.6 crore in equity and ₹1.1 crore in venture debt.

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Launched in 2023 by Arjun Singh and Animesh Mishra, the brand fuses traditional Indian art with high-end sneaker craftsmanship—think Phulkari embroidery stitched into streetwear silhouettes. It’s not just fashion—it’s storytelling on your feet.

This funding round was led by Zeropearl VC, with an impressive line-up of backers joining in: Bounce co-founder Vivekananda Hallekere, Yogabar’s Suhasini Sampath, Jar’s Nishchay AG, and Ashutosh Valani of Renee Cosmetics. Micro-VCs Untitled Ventures and Atrium Ventures also joined the cap table, while Stride Ventures backed the startup with venture debt.

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Before this, Gully Labs had quietly raised ₹1.1 crore in a pre-seed round, using it to prototype and launch their debut line of culturally rooted sneakers. Now, with deeper pockets, the founders are aiming big—new styles, brand-owned retail stores, and a stronger grip in metro cities where culture meets street style.

At a time when global sneaker trends dominate, Gully Labs is putting Indian identity front and center—one pair at a time.

Huda Kattan Buys Back Huda Beauty in Full: Reclaims 100% Ownership After 8-Year Deal with TSG Consumer Partners

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June 4, 2025

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Image of hudabeauty — Huda Kattan Buys Back Huda Beauty in Full: Reclaims 100% Ownership After 8-Year Deal with TSG Consumer Partners

Huda Kattan has officially taken back the reins of the beauty empire she built from the ground up. After an eight-year collaboration with private equity firm TSG Consumer Partners, Huda Beauty is now fully owned by Kattan once again.

TSG had acquired a minority stake in the brand back in 2017. Fast forward to 2025, and Kattan has bought back that stake, marking a major milestone in her entrepreneurial journey. In a statement, she called it a powerful moment of reclaiming control—not just of her brand, but of her vision.

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“For anyone who’s ever been told their dream is too ambitious or unrealistic—this is proof that you don’t need permission to create something great,” said Kattan. “This next chapter is all about doubling down on what makes Huda Beauty special and staying fiercely connected to the people who’ve supported us from day one.”

Huda Beauty was born in 2013 and quickly gained a cult following thanks to Kattan’s unique blend of influencer authenticity and product innovation. Today, the brand’s lineup includes everything from cult-favorite lipsticks to high-performance mascaras and complexion products.

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With her husband Christopher Goncalo continuing as Co-CEO and her sister Alya steering the brand’s social voice, Kattan is setting the stage for Huda Beauty’s boldest chapter yet.

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