BUSINESS
Licious bets on 'house of brands', launches plant-based meat brand UnCrave
India’s plant-based meat sector is expected to grow to $400 million over the next two years and there are more than 200 such meat, dairy, egg and ingredient startups in the country, Plant Based Foods Industry Association has said
BUSINESS
Meesho beats Amazon in festive sale order volumes: Report
Overall, the e-commerce players sold goods for $5.7 billion in the first week of the festive season in India. The sale was led by mobile phones which constituted 41 percent of the total sales. Fashion, meanwhile, contributed 20 percent which was 48 percent higher than last year’s festive sale.
BUSINESS
WazirX lays off 40% of its staff amid crypto winter
This comes a week after the exchange said that the Directorate of Enforcement (ED) had unfrozen its bank accounts, allowing the platform to resume banking operations after almost a month.
BUSINESS
Neo-banking crypto startup Juno raises $18 million led by ParaFi Capital
Founded by three Indian entrepreneurs Varun Deshpande, Ratnesh Ray, and Siddharth Verma, the startup is also backed by Balaji Srinivasan (ex-CTO of Coinbase) and Surojit Chatterjee (CPO of Coinbase), Ryan Selkis (Founder, Messari), Sandeep Nailwal and Jaynti Kanani (Founders of Polygon).
BUSINESS
Despite few glitches, ONDC's Bengaluru rollout takes off
According to data as per ONDC, 161 orders were placed on the network across Paytm, IDFC, Spicemoney, Mystore which are the buyer apps.
BUSINESS
The meat category suffers due to India's cultural hypocrisy: Licious co-founder
The firm faced a storm of resistance from VCs, or 'vegetarian capitalists,’ as the founders called them. Licious co-founder Abhay Hanjura says that meat continues to be carried surreptitiously in black plastic bags, like sanitary pads, condoms, and alcohol, even though a majority of Indians consume meat.
BUSINESS
Flipkart, Amazon return to deep discounts, mega ad spends to kickstart festive sales
Sellers on e-commerce marketplaces see 2-5 times jump in demand, compared to the tepid sales in the last few months. But they are unhappy over high costs of keywords, lower average selling prices and delayed dispatches
BUSINESS
Festival-season sales kick off; here's how e-commerce companies have readied themselves to hit the road
For e-commerce players, there are concerns about inflation impacting consumer purchasing decisions, with the added worry of people being able to freely shop offline for the festive season after two years.
BUSINESS
Zomato cracks the whip on cloud kitchens running multiple brands
Zomato has said that if more than 10 brands operate out of a single location, it will manually check the locations of these kitchens
BUSINESS
A cloud kitchen with 200 brands on Zomato and Swiggy. What's cooking?
The cloud kitchen business has grown rapidly in recent years, with the market size expected to be close to $3 billion by 2025. However, there needs to be greater oversight of the working conditions of these establishments.
BUSINESS
Myntra looks to add 1 million new customers during festive season sale
Myntra expects to process 13,000 orders every minute, and it intends to use the 21,000 kirana stores it has partnered with to fulfil 80% of the festive orders.
TRENDS
End of mindless swiping: Young adults embrace post-pandemic love
For many people, adjusting to work from home infrastructure and fewer outdoor activities was challenging, which increased dependence on these apps. As a result, users' time spent on these apps rapidly rose.
CRYPTOCURRENCY
WazirX says ED has unfrozen bank accounts after investigation
The ED investigation has dealt a huge blow to WazirX, as US-based crypto exchange Binance virtually disowned the company. A few hours after the ED froze WazirX accounts, Binance CEO Changpeng Zhao said it does not own the Indian crypto exchange, a deal that was understood to be completed in 2019
BUSINESS
Flood-hit Bengaluru residents face double whammy as delivery apps hit pause button
Quick commerce companies remain cautious as more rain has been forecast for the city and the overcast skies threaten to open up any time
BUSINESS
Despite macro headwinds, Redseer expects e-commerce festive sales to grow 28%
The average order value or spend of a customer is likely to drop because the sale is expected to be driven by smaller towns and cities.
BUSINESS
E-commerce festive fervour may take a beating this year as inflation bites
Festive season sales are expected to grow 15-20 percent year-on-year compared with 25-50 percent over the past few years, experts and analysts said.
BUSINESS
Restaurants association takes on Zomato, Swiggy over dine-in offers
The body also said that it brings no tangible value to restaurants and does not solve any pressing problems of the industry either.
BUSINESS
Pivots, token delay, funding crunch: Indian Web3 founders get a reality check
Entrepreneurs who were starting up are now pivoting, delaying token launches and fundraises. Questions are being asked about the real use cases and unit economics of many of these ideas.
BUSINESS
You can report Zomato delivery riders speeding on road: CEO Deepinder Goyal
Shareholders quiz management on plunging share prices, the path to profitability, and growth prospects in Zomato’s first annual general meeting after going public
BUSINESS
CoinDCX wants to help build the crypto ecosystem in India, not merely chase revenue: Founders
Despite a crypto bear market, the crypto exchange has zero attrition and 25,000 job applications from people who are “actually enthusiastic” about the industry, say Sumit Gupta and Neeraj Khandelwal
BUSINESS
CoinDCX unveils DeFi and Web3 app aggregation platform Okto
The app will also help customers who have invested in crypto to use their coins further on other use cases in the Web3 ecosystem without having to withdraw their crypto assets from their wallets.
BUSINESS
Toys, gifts, printouts, passport photos: What Swiggy Instamart will look at delivering in the future
As Swiggy's grocery delivery platform Instamart completes two years, its head Karthik Gurumurthy looks back on key learnings and its ambitions going ahead
BUSINESS
NRAI to discuss concerns about new dine-in program with Zomato on August 26
Zomato has been negotiating with restaurateurs showing benefits such as new customer acquisitions through the program, 100% cashback which will be given by Zomato, access of data around customers and ‘Vibe’ feature
BUSINESS
Nykaa’s beauty private label CEO Reena Chhabra quits
According to Nykaa's draft red herring prospectus, Chhabra was paid compensation of Rs 3.06 crore in FY21, making her one of the top employees of the listed company.
