Author: Business Matters Author

BluSmart, an electric vehicle (EV) ride-hailing service provider, has officially announced its entry into the Mumbai market, with operations beginning on January 1. The startup, known for its environmentally-friendly services, took to X (formerly Twitter) to share the news, revealing that the initial phase of the rollout will be limited to an exclusive invite-only group of users. BluSmart’s decision to launch in a phased manner indicates its commitment to providing quality services, ensuring that the system runs smoothly before being made accessible to the wider public. The company’s social media posts conveyed their excitement: “After months of dedication and hard…

Tata Group’s Vision for Job Creation: 5 Lakh Manufacturing Jobs by 2030 In a bold move aimed at strengthening India’s manufacturing sector, Tata Sons chairman N. Chandrasekaran has revealed an ambitious plan to generate five lakh manufacturing jobs across several high-tech industries by 2030. This vision, outlined in his annual letter to employees, underscores the Tata Group’s commitment to advancing India’s position as a global hub for critical industries, including batteries, semiconductors, electric vehicles (EVs), and solar equipment. The Growth of Key Industries Chandrasekaran’s letter highlights the Tata Group’s focus on creating new manufacturing facilities to cater to industries that…

Amagi’s Financial Performance in FY24: Strong Revenue Growth and Improved Margins Amagi, a media-focused Software-as-a-Service (SaaS) unicorn, showcased impressive financial performance in the fiscal year 2023-24 (FY24), driven by significant revenue growth and improved operating efficiencies. The company reported a consolidated net loss of INR 245 crore, marking a reduction of 23.72% compared to INR 321.2 crore in FY23. This decline in losses was attributed to a notable improvement in Amagi’s EBITDA margin, signaling a strong operational turnaround. Also Read:- Univest Secures $10 Million in Series A Funding to Build Stock Market Superapp for Retail Investors Strong Revenue Growth One…

Univest, a wealthtech startup based in Gurugram, has successfully raised $10 million (approximately INR 85 crore) in its Series A funding round. The investment was led by Bertelsmann India Investments (BII), with additional backing from a group of undisclosed angel investors. The fresh capital infusion will be used by the company to accelerate the development of its stock market superapp designed to cater to retail investors. Founded in 2022 by Arora, Avneet Dhamija, and Vikash Agrawal, Univest has quickly emerged as a promising player in the wealth management and investment advisory space. The startup’s primary offering is a mobile application…

Ola Electric Expands Reach with 3,200 New Stores and Unveils Limited Edition Scooter Ola Electric, one of India’s leading electric vehicle (EV) startups, has announced an ambitious expansion plan to open 3,200 new stores, bringing the total number of its showrooms and service centers to 4,000 before the IPO of Ola Electric. This move is aimed at driving the adoption of electric vehicles across the country, particularly in smaller towns, tehsils, and rural areas, beyond just metro and Tier I and II cities. Ola Electric’s initiative is a clear step toward making EVs more accessible to a broader section of…

Sorted Rebrands to Handpickd: A New AI-Driven Approach to Fruits and Vegetables Delivery Anant Goel, the founder of Milkbasket, has rebranded his fruits and vegetable (F&V) focused omnichannel startup, Sorted, to “Handpickd,” signaling a strategic shift towards enhancing the online shopping experience in the F&V segment. The rebranding aims to position the company at the intersection of technology and fresh produce, as it looks to integrate artificial intelligence (AI) to revolutionize the way customers shop for fruits and vegetables. Transition from Sorted to Handpickd Under the original name, Sorted, the company focused on offline distribution, bringing fresh produce directly from…

Vedantu Narrows Losses by 58% in FY24, Sees Strong Revenue Growth Edtech unicorn Vedantu has shown significant financial improvement in the financial year 2023-24 (FY24), reporting a 58% decline in its net loss, which dropped to INR 157.52 crore from INR 372.64 crore in the previous fiscal year. This reduction in losses can be attributed to a combination of increased revenue and improved operational margins, marking a positive shift for the company in its growth trajectory. Read Also:- Info Edge’s Redstart Labs to Increase Stake in Pet Care Startup Revenue Growth and Performance Vedantu’s revenue from operations saw a notable…

Netflix to Stream WWE Content in India Starting March 2025 In a major shift for WWE fans in India, Netflix will become the new home for WWE programming starting in March 2025. The streaming giant is set to take over the media rights for WWE content in India from Sony Pictures Network India (SPNI), marking a significant change in how Indian audiences will access WWE shows. This move is part of a larger global partnership between Netflix and WWE’s parent company, TKO Group Holdings, which is expected to span 10 years and is valued at an estimated $5 billion. This…

Info Edge’s Redstart Labs to Increase Stake in Pet Care Startup Sploot with INR 3 Cr Investment In a significant development within the pet care industry, Info Edge’s subsidiary, Redstart Labs, has announced a fresh investment of INR 3 crore in Sploot, a pet care startup founded in 2019. This move is aimed at increasing Redstart Labs’ stake in the company from 21.96% to 26.40% on a fully converted and diluted basis. The transaction will see Redstart acquiring 1,051 Seed-2 Series compulsory convertible preference shares of Sploot, further strengthening its position in the fast-growing pet care market. Transaction Details According…

Piyush Goyal Assures Data Protection as Shein Partners with Reliance Retail for India Re-entry Union Commerce Minister Piyush Goyal has reassured the Indian Parliament that Chinese e-commerce giant Shein will not have access to any data collected from Indian users as part of its upcoming re-entry into the Indian market. In a statement to Parliament, Goyal clarified that Shein, which is planning to resume its operations in India through a partnership with Reliance Retail, will comply with stringent data protection rules that ensure all customer data remains within Indian borders. As per the agreement between Shein and Reliance Retail, Goyal…