Author: Business Matters Author

Zomato, one of India’s leading foodtech platforms, has announced the discontinuation of two of its recently launched services—Zomato Quick and Zomato Everyday. The decision, communicated through a shareholder letter by Eternal, Zomato’s parent company, highlights ongoing challenges in achieving profitability in the competitive and fast-evolving food delivery market. CEO Deepinder Goyal cited unsustainable cost structures and the risk of compromising customer experience as the primary reasons for shutting down these services. Launched just over three months ago, Zomato Quick was positioned as a game-changer in India’s food delivery industry. It promised meal delivery in under 15 minutes, targeting urban customers…

Ola Electric, India’s leading electric vehicle (EV) manufacturer, has officially postponed the deliveries of its much-anticipated electric motorcycle, the Roadster X, by a month. Initially scheduled to begin in April 2025, the deliveries will now start in May 2025, according to the company’s latest stock exchange filing dated April 30. The delay in Roadster X delivery was announced via a formal communication to the bourses, where Ola Electric stated: “With reference to our earlier intimation dated April 11, 2025, we wish to inform that the deliveries of the Roadster X motorcycle will now commence in May 2025.” This marks the…

Urban Company, India’s top home services platform, is preparing for its stock market debut with a ₹1,900 crore initial public offering (IPO). As part of the run-up to this major financial event, the startup’s co-founders — Abhiraj Bhal, Varun Khaitan, and Raghav Chandra — have sold shares worth ₹779.08 crore in secondary market transactions, according to the company’s Draft Red Herring Prospectus (DRHP) filed with the Securities and Exchange Board of India (SEBI) on April 28. Founders Monetize Equity Through Secondary Deals Between September 2024 and March 2025, each of the three Urban Company co-founders sold shares amounting to nearly…

Mugafi, an innovative AI-powered content creation platform, has successfully raised $3 million (approximately INR 25.5 crore) in its seed funding round. The round was led by early-stage venture capital firm StartupXseed and saw participation from notable investors including Auxano, Proneur Network, Mars Shot Ventures (the venture capital arm of Razorpay founders), Beyond Venture Partners, and We Founder Circle. Founded in 2020 by Vipul Agrawal, Mugafi aims to empower writers and filmmakers by offering advanced AI-driven tools to streamline and enhance the content creation process. The company’s flagship product, Ved, acts as a virtual co-writer. It helps content creators brainstorm ideas,…

After launching flagship outlets in Mumbai and Delhi, Apple targets Noida, Pune, Bengaluru, and Mumbai for its next wave of retail growth Tech giant Apple Inc. is reportedly preparing to expand its retail footprint in India, signaling the next phase of its strategic push into one of the world’s fastest-growing smartphone markets. As part of this second phase of expansion, Apple is set to open four new stores across major Indian cities, building on the momentum generated by its first two flagship outlets in Mumbai and Delhi. According to insider sources, two store locations have already been finalized: one at…

Bengaluru-based electric vehicle (EV) startup River has made headlines with a remarkable 21-fold increase in operating revenue for the financial year ending March 31, 2025 (FY25). As per cofounder and CEO Aravind Mani, River’s revenue surged from ₹5 crore in FY24 to ₹104 crore in FY25, underscoring the company’s rapid expansion and the growing demand for electric mobility solutions in India. However, the significant rise in revenue came alongside an increase in net losses, which more than doubled to ₹176 crore from ₹83 crore in the previous fiscal year. Founded in March 2021 by Aravind Mani and Vipin George, River…

Strategic Move Aims to Reduce Reliance on China Amid Rising U.S.-China Trade Tensions In a major shakeup of its global supply chain strategy, Apple is reportedly planning to shift the entire assembly of iPhones sold in the United States to India as early as next year. This strategic pivot is aimed at reducing Apple’s long-standing dependence on China, particularly in light of rising geopolitical tensions and trade barriers between Washington and Beijing. According to a report by the Financial Times, Apple has accelerated its diversification plans due to the recent imposition of a steep 145% tariff on Chinese-made goods by…

PharmEasy-owned diagnostics platform Thyrocare Technologies has posted strong financial results for the fourth quarter of the financial year ended March 2025 (Q4 FY25). The company reported a 25.6% year-on-year (YoY) increase in consolidated net profit, reaching INR 21.6 crore, compared to INR 17.2 crore in the same quarter last year. This surge in profitability reflects the company’s growing efficiency and strong demand for diagnostic services across its network. The impressive growth comes despite increasing competition in the diagnostics sector and indicates Thyrocare’s successful efforts in scaling operations and enhancing service delivery. Revenue Growth Reflects Strong Market Demand Thyrocare also recorded…

Google’s Parent Company Looks to Strengthen Local Supply Chain with Indian Manufacturing Partners In a significant move that underscores India’s growing importance in global electronics manufacturing, Alphabet Inc., the parent company of Google, is reportedly in advanced discussions to shift a portion of its Pixel smartphone production from Vietnam to India. According to a recent report by The Economic Times, Alphabet has already completed the initial round of talks with two major contract manufacturers in India—Dixon Technologies and Foxconn—marking a strategic push towards localizing hardware production. This development comes at a time when major global tech players are seeking to…

The move reflects Nykaa’s continued focus on rewarding and retaining talent through employee stock ownership schemes Nykaa, the beauty and fashion e-commerce giant, has announced the allotment of 17,010 equity shares under its Employee Stock Option Plans (ESOPs) through its parent company, FSN E-Commerce Ventures Ltd. In a filing to the stock exchanges on April 18, 2025, the company stated that the allotment was made following the exercise of vested stock options by eligible employees. This latest ESOP allotment signifies Nykaa’s ongoing strategy to incentivize its workforce and align employee interests with the long-term success of the company. Based on…