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Walmart-owned Flipkart appoints Ravi Iyer as Marketplace CFO: Report
- Ravi Iyer appointed as Chief Financial Officer (CFO) of Flipkart's Marketplace division, succeeding Sakait Chaudhary.
- Iyer, currently Senior Vice President, to handle corporate development, financial planning and analysis, and investor relations in addition to new role.
- Sriram Venkataraman, Group CFO, announced Iyer's appointment and would focus exclusively on Group CFO responsibilities.
- In the reshuffle, three senior finance leaders will now report to Iyer, who has been with Flipkart for over 11 years.
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TechCrunch
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Superblocks CEO: How to find a unicorn idea by studying AI system prompts
- Brad Menezes, CEO of Superblocks, believes billion-dollar startup ideas can be found by studying system prompts used by AI startups.
- System prompts are detailed instructions used by AI startups to train foundational models in specific domains and tasks.
- Superblocks shared 19 system prompts from popular AI coding products like Windsurf, Manus, Cursor, Lovable, and Bolt.
- Menezes highlighted that prompt enrichment around the system prompts is crucial, constituting 80% of the 'secret sauce'.
- The three components of system prompts to study are role prompting, contextual prompting, and tool use.
- Role prompting gives models purpose and personality, while contextual prompting provides relevant context for actions.
- Tool use enables models to perform agentic tasks beyond text generation, such as editing code and querying databases.
- Superblocks aims to allow non-programmers to write apps by handling security and access to enterprise data sources.
- Menezes restricts software engineers at Superblocks from building internal tools, encouraging the use of the product for various needs.
- Superblocks has gained customers like Instacart and Paypaya Global, focusing on providing vibe coding tools for enterprises.
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Startup Pedia
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Elon Musk's net worth dips $34 billion overnight amid public spat with Donald Trump
- Elon Musk's net worth took a hit of nearly $34 billion overnight amid a public feud with Donald Trump.
- The feud resulted in Tesla shares crashing 14% and losing $150 billion in market value on Thursday.
- On June 6, 2025, Elon Musk's net worth dropped by approximately $33.9 billion in a day, as per the Bloomberg Billionaires Index.
- The fallout between Donald Trump and Elon Musk led to insults, threats, and calls for impeachment in public, marking a low point in their once-friendly relationship.
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ISN
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UPI payments giant PhonePe onboards veteran banker Zarin Daruwala to board ahead of planned IPO
- PhonePe has appointed former Standard Chartered India and South Asia CEO Zarin Daruwala to its board of directors as part of its governance and leadership focus ahead of an IPO.
- Daruwala, with over three decades of banking experience, joined PhonePe following her tenure at Standard Chartered and ICICI Bank.
- PhonePe has taken formal steps towards its IPO readiness including a shareholder resolution in April approving a name change and designating key personnel.
- The move to onboard Daruwala reflects PhonePe's strategy to strengthen financial and governance expertise as it transitions to a public company from a private unicorn.
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Startup Story
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Khari Foods Raises ₹3 Crore in Seed Round to Expand Healthy Snacking Footprint Across India
- Khari Foods, a clean-label snacking brand, raises ₹3 crore in a Seed funding round led by Meri Punji Pvt. Ltd.
- The funding will support the company's growth strategy, focusing on research, new product launches, team expansion, and marketing and distribution.
- Khari Foods offers nutritious snacks like Ragi Crispies, Beetroot Crispies, Oats Crispies, and more for health-conscious consumers aged 20 to 40.
- The brand projects a 208% Annual Revenue Run Rate growth for the current financial year and plans to enhance R&D capabilities and introduce new product categories.
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ISN
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ProtectMeWell partners with 1 Finance to extend hyper-personalized health insurance rule engine to end customers
- ProtectMeWell and 1 Finance collaborated to launch a hyper-personalised health insurance rule engine for end consumers.
- The platform addresses India's 73% health insurance protection gap, aiming to simplify evaluation processes for informed decisions.
- The initiative, originating from a personal struggle faced by ProtectMeWell's Co-founder, offers transparent and data-driven insurance solutions.
- The tool, previously a B2B solution, is now extended to individuals, providing personalization and clarity in health insurance selection.
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Economic Times
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Quick commerce job growth outpaces ecommerce, modern trade
- Quick commerce is experiencing rapid job growth, especially in last-mile delivery and operational roles.
- A report by TeamLease estimates that the sector will employ up to 5.5 lakh people by next year, with current employment figures standing at 2.5 to three lakh delivery workers and 70,000 to 75,000 employees in dark stores and warehouses.
- Direct jobs in the quick commerce sector include warehouse staff, delivery workers, and employees in stores and dark stores, while indirect jobs cover roles in corporate offices, IT, and packaging companies that support the sector.
- When comparing workforce across retail channels, quick commerce is anticipated to see future job growth, drawing demand from other formats and expected to create new jobs in last-mile delivery, warehouse management, and operations.
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Medium
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I’m Building a Billion-Dollar Unicorn. Here’s How.
- Every generation has its revolution - from the internet to AI, and now, it's India's time for a decade of growth.
- Steps to build a billion-dollar unicorn: Think big, be delusional (but back it up), outsmart everyone, surround yourself with giants, and use every second as leverage.
- Building platforms like AI-led talent discovery and focusing on solving problems that impact millions is key to scaling impact.
- Network with mission-driven individuals who dream bigger, execute faster, and help in personal growth to build a successful company.
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ISN
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Ex-GVFL MD Kamal Bansal joins Steptrade as an advisory board member
- Steptrade Share Services has appointed Kamal Bansal, former MD of GVFL, as a member of its advisory board.
- Bansal's extensive experience in venture capital, private equity, public markets, and investment banking will bolster Steptrade's leadership team.
- The appointment reflects Steptrade's strategic focus on disciplined investing, long-term vision, and institutional scale.
- Bansal, currently Managing Partner of BRK Ventures, aims to drive innovation and streamline processes for high-potential businesses at Steptrade Capital.
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Economic Times
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EasyMyTrip launches 'EMT Invest' to back profitable businesses to scale
- EaseMyTrip has launched 'EMT Invest' to partner with profitable, founder-led businesses that are ready to scale.
- They are looking to invest in businesses with minimum profit before tax of Rs 5 crore, strong unit economics, and scalable models in high-growth sectors.
- EMT Invest will acquire strategic minority stakes of up to 49%, ensuring that promoters retain operational control and prepare for future milestones such as IPOs or secondary exits.
- Founder and Chairman of EaseMyTrip, Nishant Pitti, is focusing on growth opportunities and seeking businesses where EaseMyTrip can take up to 49% equity to support scaling.
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Startup Story
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Wipro Consumer Care – Ventures Makes Strategic Entry into Pet Food Segment with Investment in Goofy Tails
- Wipro Consumer Care – Ventures has made its first investment in the pet food category by backing Goofy Tails, a D2C pet nutrition brand in New Delhi.
- Goofy Tails offers a range of holistic pet nutrition products formulated by veterinarians, emphasizing bioavailability and pet well-being.
- The investment in Goofy Tails marks Wipro Consumer Care – Ventures' third deal in 2025 and 15th overall, signaling a sustained focus on digital-first consumer brands.
- This investment aligns with the rapid growth of India's pet care industry, reflecting the trend towards pet humanization and innovation in pet food.
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Medium
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The billionaire’s ultimate status symbole : the private jet
- Owning a private jet can be a lucrative investment as it saves time and can even generate income through chartering.
- High-net-worth individuals save up to 20 days per year in travel time by using private jets compared to commercial flights.
- Private jets can hold or even increase in value if well-maintained, unlike assets like supercars or yachts.
- By chartering out the jet, owners can earn substantial passive income, covering operational expenses and retaining value well.
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ISN
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Delhi-based clean-label snacking brand Khari Foods raises Rs 3 crore to enhance R&D
- Delhi-based clean-label snacking brand Khari Foods has secured Rs 3 crore in seed funding to focus on offering clean-label snacks to health-conscious Indian consumers.
- The funding was led by Meri Punji IMF Private Limited and represents the first institutional capital for Khari Foods, which has shown steady growth over the last three years.
- Khari Foods, under its parent entity Grahill Wellness, produces palm oil-free and maida-free snacks like Ragi Crispies and Jowar Puffs, aiming at consumers aged 20 to 40.
- The funding will be used for R&D, team expansion, marketing, and distribution growth in Tier 1 and Tier 2 cities, with an expected 208% increase in annual revenue run rate by FY25.
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SiliconCanals
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In other news this week: Donkey Republic appoints new CEO, Atmen raises €5M, Iron Wolf Capital launches €100M fund, & more
- Donkey Republic Holding appointed Thor Möger as the new CEO after Niels Henrik Rasmussen stepped down.
- Esmée Trimbos has joined NUNC Capital BV as Head of Marketing & Communications.
- Atmen raised €5M in seed funding to develop a digital platform supporting product certification.
- Iron Wolf Capital launched a €100M fund focused on deep tech and AI, aiming to invest in 25 companies.
- ChargeNet secured funding to further develop its B2B platform connecting private charging infrastructure with transport companies.
- Delpha raised $2M in seed funding to advance its AI technology for commercial data quality.
- Baobab secured €12M in Series A funding to protect European businesses from digital risks using AI-driven underwriting.
- Aibidia secured €13M in Series A funding to manage cross-border business and transfer pricing obligations for multinational enterprises.
- Perpethua completed a €500,000 investment round to ensure continuity for small and medium-sized enterprises.
- Energy Bolting was acquired by Nord-Lock Group to expand its operations in speciality fasteners supply.
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Inc42
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CCPA Asks Ecommerce Players For Self-Audit To Detect Dark Patterns
- The Central Consumer Protection Authority (CCPA) has advised ecommerce firms to conduct self-audits to detect and remove dark patterns.
- Dark patterns are deceptive techniques used by online platforms to manipulate users into making purchases or decisions not in their best interest.
- Ecommerce platforms must ensure their platforms are free from dark patterns within three months of receiving the advisory from CCPA.
- Non-compliance with the guidelines on dark patterns can lead to penalties under the Consumer Protection Act, 2019, including potential fines and imprisonment.
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