Author: Business Matters Author

With support from Amazon and Samara Capital, More Retail aims to double its store network in five years through a hybrid retail strategy Amazon-backed supermarket chain More Retail is set to make a major move in India’s fast-growing retail landscape with plans to launch its Initial Public Offering (IPO) next year. The company, which operates a mix of supermarkets and hypermarkets across India, is eyeing rapid expansion as it aims to double its store count over the next five years. Vinod Nambiar, Managing Director of More Retail, revealed to Reuters that the IPO will help fund the brand’s aggressive growth…

Strategic Step Towards Domicile Shift Fintech major Pine Labs has received the final approval from the National Company Law Tribunal (NCLT) to merge its Indian and Singapore-based entities. This strategic realignment is a major step in the company’s broader plan to shift its domicile to India — a move that sets the stage for a highly anticipated $1 billion Initial Public Offering (IPO). The merger will lead to the issuance of Pine Labs shares to the current shareholders of the Singapore entity. This realignment is part of the company’s vision to boost operational efficiency and streamline its corporate structure. Read…

PhysicsWallah, the rapidly growing edtech startup, is ramping up its efforts to expand its presence in the competitive Union Public Service Commission (UPSC) test preparation market. As part of its strategy to enhance its foothold in the sector, PhysicsWallah is actively exploring acquisition opportunities with several key players in the UPSC preparation space. The company is currently evaluating seven to eight entities for a potential buyout deal, signaling its strong intent to become a dominant force in the highly competitive UPSC test preparation industry. Strategic Focus on UPSC Test Preparation The UPSC Civil Services Examination is one of the toughest…

In response to recent media speculation, Ola Electric has taken proactive steps to clarify its sales figures for February 2025, addressing concerns raised by a Bloomberg report. The electric vehicle (EV) maker faced criticism after the report claimed that Ola Electric included “bookings” of electric scooters and motorcycles in its February sales numbers without fulfilling deliveries. In its statement, Ola Electric described these claims as “misinformation” and reaffirmed its commitment to transparency and accuracy in reporting sales data. Clarification on February 2025 Sales Figures Ola Electric took to the stock markets to clarify the situation, emphasizing that the February 2025…

Apple has made significant strides in its efforts to mitigate the impact of the tariffs imposed by the Donald Trump administration by nearly doubling its iPhone exports from India in March. The surge in exports is seen as part of the company’s strategy to stockpile inventory ahead of the new tariffs, which are set to be introduced on April 2. This move by Apple underscores the increasing importance of India as a critical hub in Apple’s global supply chain, particularly in light of the evolving trade relations between India and the United States. In March, Apple ramped up its exports…

Scapia, a fast-growing travel fintech startup founded by former Flipkart executives, has successfully raised $40 million (approximately INR 342 crore) in its Series B funding round. The round was led by Peak XV Partners, with participation from existing investors such as Elevation Capital, Z47, and Binny Bansal’s 3STATE Capital. This significant funding will enable Scapia to accelerate product development, expand its team, and integrate artificial intelligence (AI) to further enhance its services. The Vision Behind Scapia’s Innovation in Travel Fintech Launched in 2022 by Anil Goleti, a former senior vice president at Flipkart, Scapia aims to transform the travel fintech…

At the Startup Mahakumbh event, Sachin Bansal, the founder of Navi Technologies, unveiled the company’s renewed plans for an Initial Public Offering (IPO) in FY26. This announcement is poised to be a significant milestone in the evolution of India’s fintech sector. Navi Technologies, a leading player in digital lending, is preparing for an IPO that could reshape the landscape of India’s financial ecosystem. Navi’s Growth and Expanding User Base Navi Technologies has experienced exponential growth since its inception. With 20 million monthly active users, the company is well-positioned to scale its operations further. This impressive user base reflects the increasing…

In a recent development, PB Fintech’s lending technology arm, Paisabazaar, has received a demand notice of INR 9.32 crore from the Income Tax (I-T) authorities in Delhi. This tax issue, related to the assessment year 2023-24, is a result of an assessment order issued by the Assistant Commissioner of Income Tax under Section 143(3) of the Income Tax Act, 1961. The notice raises questions regarding the company’s financials, with the authorities disallowing a substantial sum of INR 85.60 crore under Section 37 of the Income Tax Act. The Background PB Fintech, which operates Paisabazaar, a leading online lending marketplace, has…

OYO’s founder, Ritesh Agarwal, is optimistic about the company’s growth trajectory as he anticipates a remarkable 60% year-on-year (YoY) increase in its revenue for the fourth quarter of FY25. According to an email sent to the startup’s senior leadership team, Agarwal projected the travel tech giant’s revenue to reach INR 2,100 Crores, signaling a major milestone in the company’s journey toward becoming a dominant player in the hospitality industry. https://www.oyorooms.com/Agarwal’s statement underscores the company’s impressive ability to drive both sustainable and profitable growth, even as it navigates the complex and competitive travel sector. He highlighted that this surge in revenue…

Evenflow, a Thrasio-style marketplace aggregator founded by former Uber executives, has made headlines with a successful $5 million Series A funding round. The round was led by Venture Catalysts and notable investors such as Sunder Ramachandran, the Head of Business Transformation at Dr. Reddy’s Laboratories, along with several angel investors. This new injection of capital brings Evenflow’s total funding to nearly $14 million, including an undisclosed amount raised in a bridge funding round last October. Revolutionizing Ecommerce Marketplaces Founded in 2021 by Utsav Agarwal and Pulkit Chhabra, Evenflow is a digital-first company that specializes in acquiring and scaling third-party sellers…