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Swiggy hits the ground running; A symphony of tech and performing arts
- The Confederation of All India Traders (CAIT), in a white paper, has accused quick commerce platforms like Blinkit, Swiggy Instamart, and Zepto of misusing Foreign Direct Investment (FDI) to subsidise unsustainable discounts and dominating supply chains to push small retailers such as kirana stores out of the market.
- Zomato's quick commerce arm Blinkit is piloting a large order fleet for larger items like luggage, air purifiers, PlayStation consoles and air fryers.
- Electric vehicle (EV) ride-hailing platform BluSmart reported a 77% year-over-year increase in its gross merchandise value (GMV) to Rs 275 crore in the first half of FY25 from Rs 155 crore in the year-ago period.
- Shares of Swiggy closed 10.48% higher at Rs 464 a piece on NSE on Wednesday as the food delivery and quick commerce firm made a strong debut on the domestic bourses.
- Ennoventure, BiteSpeed, and Zeplyn raised funding worth $8.9M, $3.5M, and $3M respectively.
- The Pallikoodam, a Chennai-based edtech startup, is imparting live online music and acting lessons to students across the world, with around 5,000 learners enrolled in its courses.
- Mynavi Corporation, one of Japan’s largest human resources (HR) firms, has adapted its approach to India with strategic investments and acquisitions to gain foothold into the local market. Its approach in India involves focusing on investments in promising startups and with the short-term and long-term targets of achieving revenue of $100 million in the next three years and $500 million over five to ten years.
- Japan's Seven & i Holdings has received a buyout proposal from a member of its founding Ito family, a potential $58 billion white-knight bid as it weighs a rival offer from Canada's Alimentation Couche-Tard.
- Just Eat Takeaway has sold its US unit Grubhub for $650m, which it acquired in a $7.3bn deal last year.
- SoftBank's Japanese telecoms unit will receive the first chips using Nvidia's latest Blackwell design for its supercomputer, the California-based chip designer said.
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