Restaurant body ⚔️ Zomato, Swiggy
Dunzo cofounder Kabeer Biswas joins Flipkart, TCS Q3 Results, Groww hits 13 Mn active users in Dec, Funding Deals and more.
Good morning and welcome to Friday’s edition of Rise & Shine!
“Do what you can with all your might. Everything else will follow.”
— Mikhail Bulgakov
Today, Mikhail Bulgakov’s words inspire us to give our best effort to whatever is within our control, trusting that the rest will fall into place. Let’s explore the power of wholehearted dedication.
The key is to focus on what we can do and trust the process for everything else.
Tech Updates
Restaurants up in arms against Swiggy, Zomato’s 10-minute apps
The National Restaurant Association of India (NRAI) is planning to approach the antitrust watchdog Competition Commission of India (CCI) again against Zomato and Swiggy to raise its concerns over their recently launched standalone apps facilitating 10-minute food delivery. Zomato-owned Blinkit recently launched Bistro, followed by Swiggy unveiling its app Snacc, both enabling quick food delivery.
Dunzo cofounder Kabeer Biswas joins Flipkart to lead quick commerce biz
Kabeer Biswas, cofounder and chief executive of cash-strapped Dunzo, is joining Flipkart to lead its quick commerce business, Minutes. The Dunzo cofounder was in talks with Flipkart throughout 2024 regarding this appointment. The Walmart-backed firm was exploring buying out crisis-laden Dunzo, but the deal never materialised.
TCS Q3 Results: Profit rises 12% YoY to Rs 12,380 crore, in-line with estimates
Tata Consultancy Services (TCS) reported a 12% jump in its December quarter consolidated net profit to Rs 12,380 crore, as against Rs 11,058 crore reported in the year-ago period. The IT major’s revenue stood at Rs 63,973 crore in Q3FY25, up 5.6% on year. However, it fell short of Street estimates of Rs 64,750 crore.
Groww hits 13 Mn active users in December, Zerodha's growth slows
The Indian stockbroking industry continues to witness intense competition, with Bengaluru-based fintech unicorn Groww solidifying its dominance. Groww achieved a significant milestone of 13.16 million active clients in December 2024, translating to a 26.59% market share, according to the latest data from the National Stock Exchange (NSE).
Funding Deals
Healthcare AI company Innovaccer Inc. has raised $275 million in a Series F funding round, comprising both primary and secondary investments. The round included participation from B Capital Group, Banner Health, Danaher Ventures LLC, Generation Investment Management, Kaiser Permanente, and M12.
Infinity Fincorp Solutions, an RBI-registered non-banking financial company (NBFC), has raised $35 million from marquee investor Jungle Ventures, with participation from Archerman Capital and Magnifico.
B2B food and agritech platform Waycool raises Rs 110 crore (approximately $13 million) in debt from Grand Anicut.
Education loans-focused fintech startup GrayQuest has secured Rs 80 crore ($9.3 million) in its Series B equity funding round from IIFL Fintech Fund, Claypond Capital (Family Office of Ranjan Pai), and existing investor Pravega Ventures.
Kerala-based banana chips brand Beyond Snack has raised $8.3 million in its Series A funding round led by 12 Flags Group, a consumer business-focused fund established by Rakesh Kapoor, the former global CEO of Reckitt Benckiser.
Mintoak, a merchant SaaS platform catering to banks and merchant acquirers, has raised Rs 71 crore (around $8.2 million) in a secondary funding round led by Z3Partners.
Medical devices company Integris Health has raised primary capital from a consortium of prominent investors, including Mukul Agarwal and India SME Fund. Everstone Capital backs the company.
🪴 Short Story: The Dedicated Gardener
An amateur gardener, Elena dreamed of transforming her barren yard into a lush garden. Despite limited resources and knowledge, she poured all her energy into learning, planting, and caring for the soil.
Over time, her garden flourished, attracting butterflies and inspiring her neighbors. Elena’s commitment proved that remarkable results often follow when we give our best to what’s within our power.
Tweet of the day🐥
As you wrap up the week, focus on giving your all to what’s ahead of you. Trust that your dedication will lead to success.
Rise & Shine reminds you that effort and intention are the seeds of achievement.
Have a focused and fulfilling Friday!
Thanks for reading till the end!