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Nureca gains on entering into distribution agreement with Zepto Nureca is currently trading at Rs. 272.30, up by 3.40 points or 1.26% from its previous closing of Rs. 268.90 on the BSE. The scrip opened at Rs. 283.00 and has touched a high and low of Rs. 283.00 and Rs. 272.30 respectively. So far 78 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 468.25 on 26-Dec-2023 and a 52 week low of Rs. 240.90 on 04-Jun-2024. Last one week high and low of the scrip stood at Rs. 292.95...
Nureca gains on entering into distribution agreement with Zepto
Nureca gains on entering into distribution agreement with Zepto
Source: Accord Fintech
2024-11-18 10:35:27 am
Swiggy`s share turns stale, back at public listing price in just 1 day Online food delivery and quick commerce company Swiggy shares slipped 7.54 per cent to close at Rs 421.60 on Thursday -- just 24 hours after its strong public debut in a bearish market -- due to profit booking on higher level.  During the intra-day trading, shares of Swiggy touched Rs 489 on higher side and Rs 418 on the lower side. Trading volume and value in the trading session stood at 5.61 crore and Rs 2,522 crore on the NSE, respectively. Swiggy's shares were listed in the...
Swiggy`s share turns stale, back at public listing price in just 1 day
Swiggy`s share turns stale, back at public listing price in just 1 day
Source: IANS
2024-11-14 05:17:13 pm
Billionaire Mukesh Ambani`s Reliance plays catch-up to ride India quick commerce wave Asia's richest man Mukesh Ambani is mimicking the strategy of popular Indian grocery startups to drastically change how his retail empire operates: from home deliveries that can take a day or two, his business is now targeting a 10-30 minute service. Quick commerce has reshaped how Indians shop as Zomato, SoftBank-backed Swiggy and Zepto now promise deliveries from their neighbourhood warehouses within 10 minutes, even beating Amazon. These multi-billion-dollar quick commerce businesse...
Billionaire Mukesh Ambani`s Reliance plays catch-up to ride India quick commerce wave
Billionaire Mukesh Ambani`s Reliance plays catch-up to ride India quick commerce wave
Source: Reuters
2024-10-30 09:15:29 am
Zepto CEO credits Modi government for mushrooming of start-ups Aadit Palicha, Co-Founder & CEO of Zepto on Monday credited Modi government for creating an 'enabling' atmosphere for mushrooming of start-ups and expressed optimism that the the greenhorn businesses will power the next phase of growth.   Speaking to the media persons on the sidelines of the NDTV World Summit, Aadit Palicha said, "This is India's century. Thanks to the government's work in providing the infrastructure needed to build such exceptional companies...
Zepto CEO credits Modi government for mushrooming of start-ups
Zepto CEO credits Modi government for mushrooming of start-ups
Source: IANS
2024-10-21 04:51:13 pm
Zepto`s rise to $5 billion valuation, revolutionises 10 minute grocery delivery  Aadit Palicha, co-founder of Zepto, on Monday speaking at NDTV World Summit 2024 - The India Century, shared insights into the rapid success of the startup, now valued at over $5 billion.  Reflecting on his journey, he noted that his decision to drop out of college sounds like a cliche Silicon Valley story. However, before leaping, he and co-founder Kaivalya Vohra carefully considered their options for a year. "As kids, we had a passion for coding and building small prod...
Zepto`s rise to $5 billion valuation, revolutionises 10 minute grocery delivery
Zepto`s rise to $5 billion valuation, revolutionises 10 minute grocery delivery
Source: IANS
2024-10-21 04:30:25 pm
Indian tech startup ecosystem secures $7.6 bn in funding in 9 months, 6 new unicorns India’s tech startup ecosystem secured $7.6 billion funding in the nine months this year, along with witnessing six new unicorns, a massive 500 per cent increase compared to just one unicorn in 2023, a report showed on Tuesday.  The initial public offering (IPO) numbers have surged, with 29 tech companies going public in 2024 (year to date), compared to 15 during the same period in 2023, according to the report by Tracxn, a SaaS-based market intelligence platform. According t...
Indian tech startup ecosystem secures $7.6 bn in funding in 9 months, 6 new unicorns
Indian tech startup ecosystem secures $7.6 bn in funding in 9 months, 6 new unicorns
Source: IANS
2024-09-24 04:19:01 pm
Meal kit brand KOOK achieves 10x revenue growth in 12 months KOOK, a leading brand in the ready-to-cook meal kit industry, has announced a tenfold increase in monthly revenue, surging from Rs 5 lakh to Rs 50 lakh over the past year. This substantial growth highlights a thriving market and a notable shift in consumer preferences towards convenient, high-quality home dining solutions among Indian consumers  A key driver of KOOK’s success has been its acquisition by Pluckk last year, valued at $1.3 million. This strategic move has enabled KO...
Meal kit brand KOOK achieves 10x revenue growth in 12 months
Meal kit brand KOOK achieves 10x revenue growth in 12 months
Source: IANS
2024-09-16 03:46:47 pm
Indian startups raise more than $348 million funding this week The Indian startup ecosystem raised more than $348 million in funding this week, as the growth momentum for the industry continued for a second consecutive week.  The Indian startups collectively secured $348 million across 19 deals this week, compared to $466 million raised by 16 startups in the previous week. The week was led by ride-sharing platform Rapido which raised $200 million in its Series E funding, taking its valuation to over $1.1 billion. The funding round was led by W...
Indian startups raise more than $348 million funding this week
Indian startups raise more than $348 million funding this week
Source: IANS
2024-09-07 03:57:23 pm
31 Indian startups secured over $466 million this week, 75 pc jump At least 31 homegrown startups raised more than $466 million in 22 deals this week, a significant 75 per cent rise from last week.  Quick e-commerce platform Zepto raised $340 million in a follow-on financing round, taking the company’s valuation to $5 billion. General Catalyst led the round, with Dragon Fund, and Epiq Capital joining as new investors. Among other key fundraises, specialty coffee retailer Blue Tokai Coffee secured $35 million followed by lending firm Yubi ($3...
31 Indian startups secured over $466 million this week, 75 pc jump
31 Indian startups secured over $466 million this week, 75 pc jump
Source: IANS
2024-08-31 05:54:13 pm
Blinkit rival Zepto raises $340 mn at $5 bn valuation Quick e-commerce platform Zepto on Friday said it has secured $340 million in a follow-on financing round, taking the company’s valuation to $5 billion after its previous fundraise in June.  General Catalyst led the round, with Dragon Fund, and Epiq Capital joining as new investors. Existing investors such as StepStone, Lightspeed, DST, and Contrary also increased their stakes, the company said in a statement. Aadit Palicha, Co-founder and CEO at Zepto, said the rationale beh...
Blinkit rival Zepto raises $340 mn at $5 bn valuation
Blinkit rival Zepto raises $340 mn at $5 bn valuation
Source: IANS
2024-08-30 10:13:30 am
Homegrown fintech firm Velocity announces Rs 400 crore fund for D2C platforms Homegrown financing platform Velocity on Monday announced a Rs 400 crore fund to support direct-to-consumer (D2C) and e-commerce brands, as the country gears up for the festive season.  The cash flow-based financing platform last year earmarked Rs 250 crore for D2C brands — a 60 per cent increase this year. “We are witnessing a significant shift towards e-commerce, with projections estimating that India will be the world's third-largest online market reaching $325 b...
Homegrown fintech firm Velocity announces Rs 400 crore fund for D2C platforms
Homegrown fintech firm Velocity announces Rs 400 crore fund for D2C platforms
Source: IANS
2024-08-26 09:49:46 am
Blinkit rival Zepto set to raise $340 million at $5 billion valuation  Quick commerce company Zepto is set to raise $340 million in the new round of funding, a report said on Wednesday. “The company has secured interest from Mars Growth and General Catalyst at a valuation of $5 billion which is a 40 per cent hike from the past funding round valuation of $3.6 billion,” the report said. Adit Palicha-led Zepto had raised funding of $665 million or Rs 5,560 crore in June at a valuation of $3.6 billion. The company aims to double the number...
Blinkit rival Zepto set to raise $340 million at $5 billion valuation
Blinkit rival Zepto set to raise $340 million at $5 billion valuation
Source: IANS
2024-08-14 05:23:18 pm
Zepto promotes Devendra Meel to Chief Business Officer Quick grocery delivery platform Zepto on Friday announced the elevation of Devendra Meel to the Chief Business Officer (CBO), effective July 2024.  In this role, he will lead category management and foster brand partnerships, ensuring optimal assortment, pricing, availability, and growth of all core categories on the platform. "I am deeply committed to this mission and will bring all my energy and dedication to it. Zepto's meritocratic, fast-moving environment offers high-...
Zepto promotes Devendra Meel to Chief Business Officer
Zepto promotes Devendra Meel to Chief Business Officer
Source: IANS
2024-07-12 12:59:06 pm
Indian startups raised nearly $7 billion in first half of 2024 Indian startups have raised nearly $7 billion in funding during the first half (H1) of 2024, more than the $5.92 billion raised in H1 2023.  However, the figures are still far less than $20 billion in H1 2022, according to data compiled by TheKredible. The $7 billion funding included 182 growth or late-stage deals worth $5.4 billion and 404 early-stage deals worth $1.54 billion. About 99 were undisclosed deals, reports Entrackr. During H1, Indian startups produced a couple of un...
Indian startups raised nearly $7 billion in first half of 2024
Indian startups raised nearly $7 billion in first half of 2024
Source: IANS
2024-07-03 06:06:36 pm
40 pc jump in quick commerce spending during T20 WC final Fintech startup Simpl on Sunday said that it witnessed a 40 per cent jump in consumer spending on its platform around the T20 World Cup Final.   India on Saturday defeated South Africa by 7 runs in a nail-biting final to clinch the ICC T20 World Cup at the Kensington Oval in Barbados.  “Indians’ support and celebration at the country’s triumph at the T20 World Cup 2024 was quite evident in their online spending patterns as well with nearly 40 per cent ju...
40 pc jump in quick commerce spending during T20 WC final
40 pc jump in quick commerce spending during T20 WC final
Source: IANS
2024-06-30 04:25:35 pm
Want Zepto to become a $50 bn company that employs lakhs of people: CEO Zepto Co-founder and CEO Aadit Palicha on Sunday said they are ready to turn the quick commerce platform into a $50 billion company.   The Zomato-owned Blinkit’s rival had just raised $665 million at a $3.6 billion valuation in a highly oversubscribed round. The new funding came just nine months after the company raised $235 million at a $1.4 billion valuation. "Reflecting on the past 3 years of building Zepto: the story of 2 kids dropping out of college and starting a c...
Want Zepto to become a $50 bn company that employs lakhs of people: CEO
Want Zepto to become a $50 bn company that employs lakhs of people: CEO
Source: IANS
2024-06-24 09:13:31 am
Blinkit's rival Zepto raises $665 mn at a $3.6 bn valuation, to go public soon Quick delivery platform and Blinkit’s rival Zepto on Friday said it had raised $665 million at a $3.6 billion valuation in a highly oversubscribed round -- just nine months after the company raised $235 million at a $1.4 billion valuation.  Avenir, Lightspeed and Avra (Anu Hariharan’s new fund) joined the company’s cap table as new investors, among others. Existing investors Glade Brook, Nexus, and StepStone co-led the round with Goodwater and Lachy Groom doubling...
Blinkit's rival Zepto raises $665 mn at a $3.6 bn valuation, to go public soon
Blinkit's rival Zepto raises $665 mn at a $3.6 bn valuation, to go public soon
Source: IANS
2024-06-21 11:40:31 am
Zepto set to raise $650 million at $3.5 billion valuation Quick grocery delivery platform Zepto is geared up to raise nearly $650 million from existing and new investors. According to sources, the funding will take Blinkit closest rival’s valuation to around $3.5 billion. Sources told IANS that Nexus and its limited partner StepStone will lead the new funding round. The company did not immediately comment on the development. This is the company's second big fundraise in about a year's time. Zepto raised $200 million in A...
Zepto set to raise $650 million at $3.5 billion valuation
Zepto set to raise $650 million at $3.5 billion valuation
Source: IANS
2024-06-13 10:13:08 am
Battery Smart to offer Zepto delivery partners access to over 1K battery swapping stations Battery-swapping services provider Battery Smart on Monday announced its partnership with e-grocery and quick commerce service provider Zepto.  This partnership will provide Zepto’s Electric Vehicle (EV) delivery partners access to Battery Smart’s nationwide network of more than 1,000 battery-swapping stations, allowing two-minute battery swaps across over 30 cities. It will also empower Zepto to add 10,000 new EVs to its fleet in FY 2024-25, the company said. "...
Battery Smart to offer Zepto delivery partners access to over 1K battery swapping stations
Battery Smart to offer Zepto delivery partners access to over 1K battery swapping stations
Source: IANS
2024-06-03 01:57:27 pm
Zepto becomes first quick-commerce firm to levy platform fee of Rs 2 Zepto has become the first quick-commerce company to introduce a platform fee of Rs 2 per order. The platform fee will apply to a select set of users. Currently, Zomato-owned Blinkit and Swiggy Instamart, both competitors of Zepto, do not charge a fee on grocery orders, but collect a platform fee from food delivery orders. "We do not believe in being over-dependent on delivery fees to be profitable. We believe in core operating efficiency and cost reduction to be profitable. We ...
Zepto becomes first quick-commerce firm to levy platform fee of Rs 2
Zepto becomes first quick-commerce firm to levy platform fee of Rs 2
Source: IANS
2024-03-13 03:43:07 pm
Zepto`s revenue surges 1,339% in FY23, losses widen 3X to Rs 1,272 crore Quick e-commerce grocery delivery platform Zepto has clocked an impressive 1,339 per cent revenue growth (year-on-year) in FY23, while its losses also widened significantly from the previous fiscal year. In its second year since launching its first dark store in Mumbai, Zepto’s revenue has grown 14 times to Rs 2,024 crore (from Rs 142.36 crore in FY22), while losses widened by three times to Rs 1,272 crore -- from Rs 390 crore in FY22. The company improved its profit after tax (PA...
Zepto`s revenue surges 1,339% in FY23, losses widen 3X to Rs 1,272 crore
Zepto`s revenue surges 1,339% in FY23, losses widen 3X to Rs 1,272 crore
Source: IANS
2023-10-27 12:04:16 pm
Insurtech startup Onsurity raises $24 mn led by IFC Insurtech startup Onsurity on Monday said it has raised $24 million in its Series B funding led by the International Finance Corporation (IFC).Additionally, existing investors Nexus Venture Partners and Quona Capital also participated in the round. The startup said it will utilise the funds to work with its insurance partners to facilitate a smooth claims experience for its members by co-creating a technology solution to drive a seamless and transparent journey. Bengaluru-based Onsu...
Insurtech startup Onsurity raises $24 mn led by IFC
Insurtech startup Onsurity raises $24 mn led by IFC
Source: IANS
2023-10-09 11:22:04 am
Unicorn Zepto leads India`s `Top Startups List` by LinkedIn ?Quick e-commerce grocery delivery app Zepto has grabbed No 1 spot on India?s ?Top Startups List 2023?, the professional networking platform LinkedIn said on Wednesday.Zepto was placed 4th last year on the annual ranking of emerging companies in the country. In August, the company achieved unicorn status -- India?s first this year -- with $200 million in fresh funding in its Series E round.At the second spot is BluSmart, an electric ride-sharing company, which has made it in the list for thre...
Unicorn Zepto leads India`s `Top Startups List` by LinkedIn
Unicorn Zepto leads India`s `Top Startups List` by LinkedIn
Source: IANS
2023-09-27 11:50:15 am