HealthifyMe IPO 📊, BigBasket's 10-min delivery 🧺, Ola Electric posts loss📉
HealthifyMe mulls IPO, BigBasket ramps up quick commerce, Ola Electric posts Rs 200 crore loss, Funding Deals & more.
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HealthifyMe mulls IPO, targets $200 million annual revenue run rate by 2024🧑🏻⚕️
Health and wellness platform HealthifyMe is mulling an initial public offering (IPO) in the next 24 months. The company said it plans to clock an annualised revenue run rate (ARR) of $200 million by then.
HealthifyMe plans to launch offline centres called ‘HealthifyMe Stores’ in the next three to six months to help its users understand its offerings. The stores may also have health testing facilities.
Founded in 2012 by Vashisht, Sachin Shenoy and Mathew Cherian, HealthifyMe offers services such as calorie tracking, one-on-one nutrition, fitness coaching, diet tracking, and workout plans.
It has around 30 million users in more than 300 cities, around 2,000 health and fitness coaches on its platform, and around 300 employees.
BigBasket ramps up qcommerce bid with 10-20 min delivery service🧺
Joining the likes of Swiggy, Dunzo, Blinkit and Zepto, Tata group-owned e-grocery seller BigBasket has entered the quick commerce segment through its under-20 minutes ‘bbnow’ and under 60 minutes ‘bbexpress’ across cities.
bbnow offers 10-20-minute deliveries within a 1.5-2.5 km radius with access to inventory comprising over 3000 products. Meanwhile, bbexpress offers deliveries within an hour for consumers within a 6-km radius with a choice of over 8000 products, the firm said in a statement.
The online supermarket firm has built a delivery network across India along with a chain of 90 offline operational stores and plans to have about 700 more in place by the year-end.
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Mylo, a platform for expecting and new mothers, has announced a funding round of $17 million led by W Health Ventures, a US-based digital health investor, ITC and Endiya Partners.
Ola Electric posts Rs 200 crore loss in FY21🛵
Ola Electric’s losses in the financial year ended March 2021 touched nearly Rs 200 crore, a period in which the mobility company pivoted from building a battery-as-a-service business to manufacturing electric scooters.
Ola Electric was earlier running a pilot in Gurugram where it had set up battery swapping stations for electric three-wheelers. The company shut that business and cofounder Ankit Jain quit in August 2020.
The company acquired Dutch electric scooter company Etergo in May 2020 and brought its ‘app scooter’ to India. The vehicle underwent many changes before it started being sold as the Ola S1 Pro.
The company began building its scooter factory in February 2021 and in December delivered its first 100 scooters.
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