Author: Business Matters Author

In a significant move to empower India’s growing health-tech ecosystem, Zeno Health (formerly Generico), backed by Lightbox Ventures, has launched a unique platform titled Pay It Forward. This initiative is designed to incubate and support early-stage healthcare and wellness startups by providing them with vital visibility and retail shelf space across Mumbai and Pune. With a mission to make healthcare more affordable and accessible, Pay It Forward invites budding entrepreneurs and startups in the healthcare domain to join a community that thrives on collaboration, innovation, and shared growth. Zeno Health is extending this opportunity to startups operating in medicines, diagnostics,…

India is on the cusp of a major transformation in its mobility landscape, with electric two-wheelers (e2Ws) emerging as the frontrunners in the race toward sustainable transportation. A recent McKinsey report predicts that electric two-wheelers will constitute 60-70% of new vehicle sales in India by 2030, highlighting the pivotal role this segment is set to play in the country’s transition to green mobility. The Rise of Electric Two-Wheelers in India India has long been a two-wheeler-dominated market, owing to the affordability, ease of use, and convenience these vehicles offer in urban and semi-urban areas. With rising fuel costs and increasing…

Delhi-based B2B fintech startup PaySprint has announced its plans to raise $3 million (approximately INR 25.7 crore) in its ongoing Series A funding round. The capital is being raised from a consortium of undisclosed family offices and high-net-worth individuals (HNIs), showcasing growing investor confidence in the startup’s innovative fintech infrastructure offerings. As part of this round, PaySprint has already secured $1.2 million in its first tranche. The remaining amount is expected to be raised in the coming months. The fresh infusion of funds will be strategically deployed to strengthen the startup’s product portfolio, enhance AI-powered capabilities in onboarding and fraud…

In a notable development in India’s competitive hyperlocal delivery landscape, Magicpin’s rapid food delivery arm, magicNOW, has started to gain significant traction. Magicpin’s founder and CEO Anshoo Sharma announced today that magicNOW currently contributes 13% to the company’s overall food delivery orders — a promising milestone for a service launched just a few months ago. magicNOW, introduced in December last year, is Magicpin’s answer to the growing demand for ultra-fast food delivery. With a unique value proposition that blends speed and freshness, magicNOW promises deliveries within just 15 minutes. Unlike many competitors who rely heavily on dark stores or cloud…

In a move that strengthens its connection with the youth and college communities, foodtech giant Swiggy has announced the pilot launch of its Student Rewards Programme across more than 200 cities in India. This strategic initiative is currently operational in nearly 2,000 college campuses, with plans to expand to over 4,500 colleges by July 2025, according to a statement by the company. Bringing More Value to Student Life The Swiggy Student Rewards Programme is designed to offer exclusive benefits tailored to the daily lifestyle and needs of students. With inflation and food prices on the rise, this initiative provides students…

In a landmark exit that highlights the maturing Indian startup ecosystem, Peak XV Partners has clocked nearly 10X returns by fully exiting its investment in hyperlocal logistics startup Porter. The exit comes as Porter recently achieved unicorn status, following a $200 million fundraising round that has placed its valuation at over $1 billion. A Decade-Long Bet Pays Off Peak XV, formerly known as Sequoia India and Southeast Asia, had invested around INR 116 crore in Porter since leading the company’s Series A round in 2015. According to sources close to the matter, the VC firm has now exited with a…

In a significant development within India’s startup ecosystem, women-only community platform Leap.club has announced that it is halting all operations. The decision comes after the startup raised $2.3 million in funding since its inception in 2020, but struggled with the high cost of customer acquisition and member retention challenges. The announcement was made via the company’s official Instagram and LinkedIn pages, where the founders shared an emotional note explaining the reasons behind the shutdown. Despite building a strong community and offering curated events and networking experiences, the company admitted that the financials simply didn’t add up. “We would like to…

In a significant development reflecting the impact of geopolitical tensions on travel patterns, Indian travel giant MakeMyTrip has reported a 60% decline in bookings to Turkey and Azerbaijan over the past week. The company has also witnessed a dramatic 250% surge in trip cancellations to these destinations, underlining a growing sentiment among Indian travelers to avoid these countries amid ongoing diplomatic strains. This sharp decline comes in the wake of increasing calls across social media and public platforms urging Indian citizens to boycott travel to Turkey and Azerbaijan. These calls have intensified following Operation Sindoor, India’s recent strategic military operation.…

Celebal Technologies, a prominent IT services and AI solutions provider, has successfully raised $15 million (approximately INR 127.2 crore) in its Series B funding round. The investment was led by InCred Growth Partners Fund-I and Norwest Capital, LLC, signaling strong investor confidence in Celebal’s growth trajectory and innovative capabilities. Strategic Funding to Power Global Expansion The Jaipur-headquartered company plans to strategically deploy the fresh capital to expand its footprint in key international markets, including North America and Europe. With the global demand for AI and data-driven digital transformation accelerating, Celebal Technologies aims to strengthen its market presence and scale delivery…

In a strong and symbolic move, popular online travel aggregator Ixigo has suspended all flight and hotel bookings to Turkey, China, and Azerbaijan, following these nations’ public expression of solidarity with Pakistan in the aftermath of India’s military action, Operation Sindoor. The announcement came directly from Aloke Bajpai, the Chairman, Managing Director, and Group CEO of Ixigo, through a post on social media platform X (formerly Twitter). “Enough is Enough”: Ixigo Takes a Stand Aloke Bajpai’s bold post read, “Enough is Enough! Blood and bookings won’t flow together. We are suspending all flight and hotel bookings for Turkey, China and…