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Ecommerce major Meesho managed to narrow its net loss by 81.8% to INR 304.9 Cr in the financial year 2023-24 (FY24) from INR 1,675 Cr in the previous year due to improvement in its margins. Last month, the company claimed that it narrowed its adjusted net loss, excluding ESOP costs, by 96.6% to INR 53 Cr in FY24 from INR 1,569 Cr in the previous year. One of the reasons for the improvement in Meesho’s bottom line was a strong growth in revenue. Its operating revenue zoomed 32.8% to INR 7,614.9 Cr during the year under review from INR 5,734.5 Cr in FY23. Including other income of INR 230 Cr, total revenue rose 33.2% to INR 7,845.1 Cr from INR 5,889.2 Cr in FY23. To read the in-depth article, click here: https://4-2.co/3UMiyWD #news #meesho #ecommerce #revenue

India’s startup ecosystem showed a mix of resilience and challenges in Q2, with some companies reporting impressive growth, while others navigated profitability hurdles👇 Jio Platforms led with strong YoY growth in both net profit and revenue, while Paytm made headlines with a significant turnaround, swinging to a profit from last year’s loss. Zomato, despite a dip in net profit, managed steady revenue growth, and Blinkit saw revenues double, even as its losses widened. Minimalist and Whatfix showed promising revenue surges, with Minimalist heavily investing in ad spend and Whatfix reducing its losses. Travel players like MakeMyTrip posted soaring profits, though rising marketing expenses remain a focus. Meanwhile, companies like GoDigit, IdeaForge, and ixigo grappled with mixed results, balancing revenue growth with profitability pressures. The landscape remains dynamic, as each company adjusts strategies to capture market share and drive sustainable growth. #startups #financials #startupecosystem 

Delhivery has granted 11,21,541 stock options to eligible employees under its three different employee stock option plans (ESOP), according to an exchange filing yesterday (November 8)👇 The company’s board approved this issuance, allowing each option to convert into one fully paid-up equity share with a face value of INR 1. According to the filing, 1,87,641 shares were allocated under the ESOP 2012 , 7,56,000 shares under the ESOP II 2020 and 1,77,900 shares were issued under the ESOP III 2020 plan. “The equity shares so allotted shall rank pari-passu (ranking equally and without preference) with the existing equity shares of the Company in all respects,” the filing added. To read the in-depth article, click here: https://4-2.co/3AAEqxk #news #delhivery #ESOP

Indian startups secured $125 Mn across 18 deals, between November 4 and 9. This marked a 51% decline from the $256.9 Mn secured via 8 deals in the preceding week. Pertinent to note that funding trends have remained volatile in the final quarter of 2024 👇 Key Startup Funding Highlights Of The Week: 🔸 While a mega deal materialised in the form of NBFC Finova Capital’s Series E funding round in the final week of October, no deals worth over $100 Mn took place in the first week of November. 🔸 Fintech startup Easy Home Finance secured $35 Mn in its Series B funding round on November 6, making it the biggest cheque secured by a startup in the past week. 🔸 On the back of Easy Home Finance and MODIFI’s funding rounds of $15 Mn, fintech topped the sectorial list with heaviest capital influx of the week. 🔸 At a sectoral level, deeptech was close on the heels of fintech in the past week. Startups in the space cumulatively raised $33.9 Mn via the highest six deals in the week. 🔸 Seed funding in the week stood at $5.4 Mn. #startups #funding #investment

Months after securing the Payment Aggregator Cross Border (PA-CB) licence, fintech startup Cashfree Payments has now joined hands with some major Indian companies to enable overseas customers to make payments in the country👇 This pilot programme caters to UPI and RuPay card users, which are not typically recognised for global transactions. As per ET, the Bengaluru-based company has partnered with foodtech major Swiggy, quick commerce giant Zepto, premium grocery platform Nature’s Basket, online beauty and fashion retailer Nykaa, online ticketing platform Bookmyshow, online travel reservation platform Redbus and edtech company Vedantu. To read the in-depth article, click here: https://4-2.co/40LI3uW #news #fintech #startup

Zoomcar announced the closing of its private placement round at $9.15 Mn. It issued an aggregate of 2.13 Mn units at an effective unit price of $4.28 per unit to secure the funds from unnamed institutional investors👇 In an exchange filing, the company said that it has used $3.8 Mn from the fresh capital to clear outstanding indebtedness to certain institutional investors. It plans to use the remainder of the capital for general corporate purposes and working capital. Founded in 2013 by David Back and Greg Moran, Zoomcar operates a one-stop shop platform for renting self-driving cars. It connects car owners with guests, who can choose from a selection of cars for use at affordable prices. To read the in-depth article, click here: https://4-2.co/48GdbhA #news #zoomcar #funding

Software integration startup UnifyApps has raised $20 Mn ( around INR 168.7 Cr) in a Series A funding round led by ICONIQ Growth, along with participation from existing investors, including Elevation Capital among others👇 The fresh funds will be used to expand UnifyApps’s enterprise AI agent platform while enabling deeper integration across software-as-a-service (SaaS) applications. Besides this, the company has roped in former SVP of sales at Sprinklr, Haitham ElKhatib, as cofounder and chief revenue officer. Founded by Pavitar Singh, Sumeet Nandal, Abhishek Kurana, Rachit Mittal, Abhinav Singi, Rahul Anishetty, Kavish Manubolu, Haitham ElKhatib and Shivam Satrawal, UnifyApps automates workflows and quickly connects various applications. To read the in-depth article, click here: https://4-2.co/4hHYX40 #news #startup #fundraising

Zero-commission food delivery platform WAAYU App, which joined the government-backed Open Network for Digital Commerce (ONDC) a few weeks back, has now launched its food delivery services in Hyderabad and Secunderabad👇 The startup aims to collaborate with more than 3,000 restaurants with the launch in Hyderabad to scale their orders and serve consumers without extra charges. The app went live in the twin cities on Wednesday (November 6) during its event which was attended by nearly 500 restaurant owners, Waayu said in its statement. Besides this, WAAYU is working with buyers apps on TATA Neu and OLA with the aim to generate higher order volumes, it added. The startup also mentioned that it will work closely with Paytm and logistics SaaS startup Pidge. To read the in-depth article, click here: https://4-2.co/4fmKw3M #fooddelivery #services

Tech giant Apple has set up a new subsidiary in India, Apple Operations India, which will focus on research, design, testing and providing support to third party manufacturers. This also marks the company’s first direct presence in the country. A regulatory filing by the new entity listed procurement of engineering equipment, leasing of facilities, hiring engineers for hardware development and providing failure analysis services to group companies, ET reported. Apple Inc. has issued a “letter of comfort” to assure its “operational and financial support” for Apple Operations India for the “foreseeable future,” according to a recent filing with the Registrar of Companies (RoC). Should the iPhone maker proceed with hardware design and testing in India, it would mark a first for the country, as Apple’s R&D activities are currently based in the US, China, Germany, and Israel. To read the in-depth article, click here: https://4-2.co/4fiYK5D #news #Apple #India

100X.VC’s cofounder and partner Shashank Randev has quit the early-stage venture capital (VC) firm👇 “After 5+ years of relentless pursuit, a very rewarding journey with energetic founders, and scaling up dreams at 100X.VC, the time has come to begin the next chapter,” Randev said in a post on LinkedIn. There was no clarity on why he left the firm and his next course of action. “I’m grateful for every lesson and every milestone along the way. Here’s to building, to dreaming bigger, and to the journey ahead… Let’s begin the next chapter,” he wrote. Reminiscing his journey, Randev said that 100X.VC’s invested $20 Mn in 180 Indian companies, backed 400+ founders, and “impacted” more than 4,000 employees during his tenure. Randev also said that he helmed as many as 100 investments at the VC firm with a ticket size of $150K per startup and 80 investments worth $30K per startup during his stint. To read the in-depth article, click here: https://4-2.co/3YWYTpn #news #cofounder #VC