According to regulatory records, Meesho, an e-commerce firm, made progress in its IPO process after the National Company Law Tribunal (NCLT) permitted the business to move its headquarters from Delaware, the United States, back to India.
Meesho will now combine with the Indian company and finish the redomiciling procedure in India since the NCLT has given the company permission to demerge from the US-based organisation.
If Meesho wishes to list on these bourses, it must completely return to India. In order to make it simpler for its portfolio firms to obtain funding and grow, Meesho’s original investor, Y Combinator, mandated that they be based outside of India in 2017.
Meesho’s IPO by Diwali This Year
Meesho started the process of returning to India in 2024. At the same time, it has been getting ready for its initial public offering (IPO) which is set to happen around Diwali this year.
According to the filing, the brand has determined that there is no obstacle to the scheme’s approval because the petitioner (Meesho) companies have sufficiently addressed the objections and observations to the scheme that were received from the Registrar of Companies/Regional Director (RoC/RD) and the Income Tax Department.
As per a media report, Meesho plans to submit its draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) within a few weeks after the flip back is finished.
According to a Meesho representative, the filing is a component of the company’s continuous move to re-domicile in India. This step matches the company’s corporate structure with its daily operational footprint, he added, since most of the company’s operations, including those of its consumers, sellers, creators, and Valmo partners, are already situated here.
Meesho Becomes a Public Entity
Meesho’s board has authorised the company’s transformation into a public company in preparation for an IPO.
In an extraordinary general meeting on June 5, the board of Meesho passed a special resolution to change the company’s name from “Meesho Private Limited” to “Meesho Limited”, according to the startup’s MCA filing.
According to the petition, the conversion will provide Meesho more freedom to pursue access to the capital market and bring its corporate structure into compliance with the legal requirements for a business looking to go public.
According to the filing, the firm intends to remain prepared from a regulatory and compliance standpoint to facilitate such an offering when judged appropriate, even if the board has not yet authorised or started the IPO process.
In order to harmonise corporate and brand identity, the company rebranded its parent corporation more than a month ago.
Bengaluru-based F&B startup Nuvie, which reimagines everyday indulgences with a healthier twist, has raised USD 450K (INR 3.8 Cr+) in its maiden pre-seed funding round, led by startup accelerator PedalStart. Focused on building a new-age ‘Better-For-You’ brand, Nuvie makes protein-rich, guilt-free versions of indulgent snacks and treats that taste just as good as the originals, if not better.
The round also saw participation from several notable entrepreneurs and angel investors, including Mukesh Bansal (Founder of Myntra, Cult.fit, and Nurix), Ayyappan R (Founder & CEO, FirstClub; ex-CEO, Cleartrip), Chanakya Gupta (Co-Founder, Tuco Kids; ex-SVP, Flipkart), and Arun Sharma (Co-Founder & CPO, Qlub UAE).
This marks Nuvie’s first external fundraise since its inception last year. A substantial portion of the pre-seed capital will be directed towards new product development, brand-building initiatives, and content creation efforts. The remainder will be strategically deployed to expand distribution and unlock growth opportunities.
Nuvie is flipping the script on health, making it fun, easy, and something you actually want to stick with. While most of the health industry has been projected as serious and performance focused, Nuvie’s approach is all about balance, enjoyment, and building a feel-good relationship with food.
Nuvie has seen strong early traction, clocking over ₹10 lakh in monthly revenue from its very first month of launch. With the momentum reinforced by this fundraise, the start-up is now aiming to close CY 2025 at an ambitious ARR of ₹10 Cr. Having launched its lactose-free Ready-to-Drink Protein Shake in three flavours, Nuvie is now gearing up to roll out five new shake variants. The product pipeline also includes innovative offerings like a protein chocolate bar—a healthier spin on traditional chocolates, and India’s first protein-infused cold coffee, or “Proffee.”
Speaking on the fundraise, Prashant Paliwal and Hem Narayan, Co-Founders of Nuvie, said, “We’re elated to raise our pre-seed round, a significant milestone in our journey to reimagine healthy eating. At Nuvie, our focus is on crafting innovative products that strike the perfect balance between health and indulgence for today’s lifestyle-conscious consumer. This capital will empower us to double down on product innovation and strengthen our market presence as we gear up for our next phase of growth”.
“As Indians become increasingly conscious about their food choices and transition to healthier lifestyles, the market for nutritious foods in our country has been growing expeditiously. Despite that, very little innovation has happened in the food-tech space to make healthy foods delicious, and that’s exactly where Nuvie gains its edge, and stands out by ensuring that healthy foods/drinks are made convenient and tasty at the same time. Nuvie’s exciting category, innovative approach, and experienced founders, committed to making better-for-you products work for the nation’s beginner health-conscious users, were the key factors that enthused us to invest in them. We at PedalStart look forward to supporting them as their long-term growth partner,” commented Manas Pal and Aditya Darolia, Co-Founders of PedalStart.
Starting its journey in Bengaluru, Nuvie has rapidly expanded its footprint, now available in 100+ premium retail stores across major metros like Delhi, Mumbai, Hyderabad and Chennai. Its products are also present in over 200 gyms and are reaching customers nationwide through key quick-commerce platforms such as Blinkit, Instamart, and Big Basket. After strong offline traction, the brand is now focused on scaling its online presence via its own website and quick-commerce channels. With a growing portfolio of high-protein, fiber-rich snacks and beverages, Nuvie is on a mission to lead a new wave in India, where ‘healthy’ and ‘tasty’ eating coexist.
About Nuvie
Nuvie is “a new way to be healthy.” Co-founded by two former Cult.fit leaders, Hem Narayan and Prashant Paliwal, Nuvie is redefining healthy eating in India with “better-for-you” products — like better milkshakes and chocolates — that make wellness enjoyable and accessible.
With over a decade in the fitness industry and personal transformation journeys of their own, the founders realized that when healthy food tastes good and fits seamlessly into everyday life, it becomes easier to stick to better habits. That insight sparked the idea for Nuvie.
Nuvie’s approach is to break the stigma and seriousness often associated with health, making it feel effortless, enjoyable, and part of a natural lifestyle. We believe sustainable health isn’t about sacrifice, but about finding joy in the journey. That’s why we’re creating feel-good, good food — delicious, protein-rich options that people actually look forward to.
About PedalStart
PedalStart is India’s fastest-growing, operator-led startup accelerator, designed to empower early-stage founders with hands-on guidance, execution support, and strategic growth. Through a rigorous 3-month filtration process, we carefully select only 15-18 high-potential startups each year. As an accelerator, we go beyond mentorship by actively investing in these startups, leveraging our deep industry expertise to help them scale, expand market presence, and build a strong foundation for long-term success. Backed by a strong ecosystem of experienced operators, mentors and investors, we are committed to transforming early-stage ventures into high-growth companies.
Intel is getting ready to start laying off a large number of employees at its production facilities in the middle of July. This will be the company’s first significant layoff since Lip-Bu Tan became CEO in March.
The layoffs, which are anticipated to finish by the end of the month, are a part of a larger strategic reorganisation as the business looks to improve its competitiveness in the global semiconductor market and streamline operations.
The Oregonian/OregonLive examined an internal memo that confirmed the layoff timeframe but did not specify the precise locations or the number of people that would be affected.
Various media reports claim that individual business units have been given the freedom to handle the cuts as long as they adhere to the financial standards set by upper management.
Layoffs Are Part of Company’s Transformational Goal
The corporation has presented the layoffs as necessary for its continuous change. According to a statement from Intel, simplifying the organisation and giving engineers more authority will help the company better meet customer needs and improve execution.
Additionally, it highlighted that these decisions were reached after “careful consideration” and promised that the affected staff will get respectful and compassionate treatment.
The action is a response to mounting pressure on Intel to address enduring issues, such as declining demand in the PC and laptop markets, declining sales, and heightened rivalry in the semiconductor industry, especially in the artificial intelligence (AI) domain.
Analysts have frequently highlighted Intel’s weakness in the AI-focused hardware market, while rivals like Nvidia and AMD have risen to the top. Although this most recent round of layoffs is the first under Tan’s direction, Intel’s employees have had a challenging recent past.
Under then-CEO Pat Gelsinger, the business eliminated over 15,000 jobs in 2023, including about 3,000 in Oregon alone. With an estimated 20,000 employees based in Washington County, Intel continues to be the largest private-sector employer in Oregon despite these layoffs.
Tan Already Hinted About Layoffs in April
Intel employees in Oregon have been speculating about potential layoffs since Tan hinted at potential reductions during an investor call in April, but he did not provide specifics or a comprehensive strategic plan.
Staff members’ discontent has grown as a result of this ambiguity, and they have expressed their worries about what they see to be a lack of transparency from senior management. Since taking over as CEO, Tan has kept a noticeably lower public profile than his predecessor.
However, later this year, he is anticipated to provide a thorough restructuring strategy.
According to industry observers, this strategy will put a higher priority on bolstering Intel’s production capacity, growing its AI presence, and regaining investor trust—all while putting the company in a better position to handle the fiercely competitive semiconductor market.
In the upcoming months, Intel’s long-term strategy will probably be closely examined by both staff members and market observers as the business enters this challenging period of its transformation.
According to reports, Goa Chief Minister Pramod Sawant has promised that the state will not allow cab aggregators like Ola and Uber.
Despite the state government’s notification of the draft Goa Transport Aggregator Guidelines, 2025, asking for comments and objections, this decision was made.
A regulatory framework, including licence fees, tariffs, and incentives, is included in the draft rules for app-based taxi and bike taxi businesses.
According to a media report, Sawant gave his pledge in response to pressure from MLAs in the coastal belt. The state administration has been requested to implement a system for taxi operators and to put the rules on hold. The government was instructed by the MLAs to adopt a standardised framework for equitable taxi fares.
According to reports, Sawant stated that since it is merely a guideline for aggregators, there should be no misunderstandings among the public. Uber and Ola won’t come here.
To establish a system, the government will seek the help of all parties involved, including lodging facilities, taxis, and MLAs. This problem will be resolved by the current administration.
According to the guidelines, the only aggregators permitted to operate throughout the state would be those who obtained a licence from the Goa government.
What Guidelines Further State?
Guidelines further state that an aggregator who has a registered office in Goa is eligible to apply for a licence, which is valid for three years from the date of issuance and must be renewed every three years after that.
The rules also stated that a legally binding agreement with the drivers must be made, one that is in conformity with the state’s dispute resolution procedures.
Earlier this year, regulatory pressure was applied to ride-hailing behemoths like Ola and Uber because of their varying prices for Android and iPhone users.
Pralhad Joshi, the minister of consumer affairs, claimed earlier this year that the two taxi aggregators had received complaints from the Central Consumer Protection Authority (CCPA) for showing different prices for the same ride on iOS and Android devices. The platforms have refuted the accusations.
Notably, in February, the Urimaikural Ottunar Thozhirsangam (Urimaikural drivers trade union), the auto and taxi drivers’ union in Chennai, declared an indefinite boycott of Ola and Uber due to the exorbitant commissions charged on daily rides. In response, the platforms recently adopted zero-commission arrangements.
Government Pushing for Sahkar Taxi
However, in March of this year, the Centre announced the establishment of a new state-backed ride-hailing service dubbed “Sahkar Taxi”, which would compete with the current market leaders in the ride-hailing field.
Drivers would have complete control over their earnings using this platform, free from commission reductions by other companies. It is important to remember that the Karnataka High Court gave bike taxi companies like Ola, Uber, and Rapido six weeks to stop operating in its April ruling.
Subsequently, Karnataka Transport Minister Ramalinga Reddy requested that department personnel implement the High Court’s directive to halt the state’s bike taxi activities.
The Karnataka High Court’s division bench earlier this week refused to postpone the judgement until the state government released a comprehensive framework to regulate the services.
Amid concerns over its long-term viability, the Indian government is presently addressing Vodafone Idea’s (Vi) financial difficulties and contemplating relief measures.
Vi might not be able to fulfil obligations after 2028–2029 if payment terms are not even extended to adjusted gross revenue (AGR) dues.
Although measures like extending the AGR payment period from six to twenty years are being discussed, government officials have warned that they may not guarantee Vi’s viability after 2028–2029.
According to the Department of Telecommunications, Vi won’t have money for its FY27 obligations if it is required to pay the entire INR 18,064 crore instalment by the end of FY26.
Vi Navigating Through Bundle of Challenges
The government became the largest shareholder with a 48.99% stake in the company in March after converting INR 36,950 crore in spectrum arrears into stock at Vi’s request.
Spectrum auctions held prior to 2021 were connected to these arrears. Vi’s financial future is still questionable in spite of this conversion. Vi has provided estimates through the Supreme Court’s 2030–31 deadline for the payment of AGR dues.
A four-year moratorium on AGR and spectrum dues from FY22 had already been granted by the government. Vi is now required to pay out all of the debt in six instalments beginning this fiscal year.
Vi’s January–March net loss of INR 7,166 crore was more than its October–December 2024 loss of INR 6,609 crore. It is currently negotiating with lenders after its board approved raising an extra INR 20,000 crore through loan or equity.
According to SR Batliboi & Associates, the group’s capacity to function as a going concern depends on the DoT’s backing over the AGR issue. They also emphasised Vi’s difficulty producing the cash flows required to pay down or refinance obligations as they fall due.
Vi Needs Immediate Bailout by Securing Loan
Vi can pay its debts this fiscal year, but starting in FY27, it won’t be feasible without obtaining more than INR 25,000 crore in loans from the bank and financial institution loans, according to a telecom industry analyst.
Motilal Oswal, a broking firm, cautioned that Vi may have a yearly liquidity shortage of INR 20,000 crore if AGR dues are not relieved or if debt fundraising activities are unsuccessful.
Vi has INR 9,930 crore in cash and bank balance at the end of March. In discussions with the DoT, the business had acknowledged that it would not be able to fulfil post-moratorium payment schedules.
Before a portion of the debt was turned into equity, the estimated payment for FY26 was more than INR 30,500 crore. The current talks show how difficult it is to guarantee Vodafone Idea’s existence in the face of growing financial strains and few alternatives for effective relief or obligation restructuring.
Here is your daily Indian Funding Roundup for Friday, 13 June 2025. While funding activity was limited today, a few notable investments and developments stood out.
🚀 Indian Startup Funding Digest – 13 June 2025
Startup
Round & Amount
Lead Investor(s)
Valuation / Use of Funds
Groww
Series F, $200 mn
GIC, ICONIQ Capital
$7 bn post-money, to build tech & prep IPO
Pehle Jaisa
Pre‑Series A, $300 k
Pantnagar Capital, Climate Angels
Scale rural waste-to-fertiliser model
Spinny
Series F, $30 mn
WestBridge Capital
Boost used‑car marketplace
Funding Highlights
Groww – Series F, $200 million
Fintech behemoth Groww has raised $200 million in a Series F round from global investors GIC and ICONIQ Capital, which values the company at approximately $7 billion.
This comes amidst financial success: FY25 net profit surged threefold to INR 1,819 crore on revenues of INR 4,056 crore, a 31% increase. Groww recently filed a confidential DRHP with SEBI and aims to raise $700–1,000 million via its upcoming IPO.
Pehle Jaisa – Pre‑Series A, $300k
Gurugram-based agritech startup Pehle Jaisa has secured $300k in a pre-Series A round co-led by Pantnagar Capital and Climate Angels. Co-founded in 2022, it transforms rural organic waste into affordable fertilisers through decentralised village-level units.
Spinny – Series F, $30 million
Unicorn car‑commerce platform Spinny received $30 million from WestBridge Capital in a further tranche of its Series F round. This investment follows earlier WestBridge participation of $35–40 million in the same round, bringing the total raise to $170 million. Spinny remains valued at $1.5–1.7 billion, growing its footprint in used-car retail across India.
Additional Key News
Lenskart’s IPO valuation increased to $6.1 billion, following a mark‑up by Fidelity.
Bike‑taxi ban persists in Karnataka, affecting Ola, Uber and Rapido services.
Nazara Tech acquired UK-based Curve Digital Entertainment for INR 247 crore.
PhonePe sold a 5 % stake in MapMyIndia, fetching INR 486 crore.
BRND.ME (formerly Mensa Brands) has sold India Lifestyle Network (ILN)—the parent company of MensXP, iDiva, and Hypp—to Kolkata-based RPSG Group in an all-cash deal worth around $9 million, as first reported by Inc42. This marks a sharp drop from the $60 million valuation at which Mensa had acquired ILN in December 2022.
Final Thoughts
Today’s funding activity highlights steady investor confidence across sectors like fintech, mobility, and sustainability. From large capital raises to early-stage growth, startups continue to attract attention and drive innovation in key areas of the economy.
Online investment platform Groww has secured $200 million in a new funding round, raising its valuation to $7 billion. The round was led by GIC, Singapore’s sovereign wealth fund, along with support from Iconiq Capital, a returning investor. This is one of the largest funding rounds in India’s fintech space this year and marks a major step forward for the company as it prepares for a public listing.
The new capital will be used to strengthen Groww’s product offerings, expand user reach, and boost technology infrastructure.
IPO plans moving ahead
The funding comes just as the company gets ready to go public. In May 2025, Groww confidentially filed IPO papers with SEBI, India’s market regulator. According to reports, Groww is aiming to raise between $700 million and $1 billion through its IPO. The listing will be managed by JPMorgan and Kotak Mahindra Capital.
If successful, the IPO could be one of the most talked-about listings in the Indian fintech space this year.
Strong growth in business
Groww’s financial performance has been strong as well. For FY25, the company posted a net profit of INR 1,819 crore, a major jump from a loss of INR 805 crore in FY24. Revenue also rose by 31%, reaching INR 4,056 crore.
This turnaround follows a change in Groww’s corporate structure, as it moved its holding company from the United States to India, bringing in more tax clarity and better alignment with local regulations.
Leading stockbroker in India
Groww is now India’s largest retail stockbroker by active clients, with over 13 million users. The platform, which started in 2016 as a mutual fund investment service, now offers stocks, ETFs, gold, loans, and financial advice, all through its app.
What’s next
With strong backing, rising profits, and a planned IPO, Groww is well-placed to continue its rapid rise in India’s fintech market.
In a recent LinkedIn post, Ghazal Alagh, Co-founder of Mamaearth and Shark Tank India’s ‘Mamashark’, shared a regular but meaningful moment from her everyday life. In a world that celebrates non-stop hustle, she’s choosing something different in 2025: calm, clarity, and purpose.
One day, in the middle of a hectic morning, her young son asked her a simple but powerful question:“Mama, why are you always in a rush?”
That question made her pause, not because she had an answer, but because she didn’t. It sparked a moment of reflection that many working mothers and entrepreneurs will find relatable.
“2025 isn’t over,” Ghazal wrote, “but it’s already taught me more than I expected.” She then shared five lessons she’s embracing this year, which are not taken from business books, but from living, learning, and listening.
1. Don’t try to be perfect all the time
Ghazal admitted she often rushed because she was trying to get everything exactly right. But chasing perfection meant not delegating enough and missing out on what truly matters. Now, she values steady progress over flawless execution.
“I now value consistent progress far more than overthinking and doing everything perfectly,” she said.
2. Always know your reason
She realised that saying “yes” too quickly often led to unnecessary stress. “Now, I am chasing clarity by asking myself, why,” she wrote. Having clear reasons behind commitments helps her stay focused and stress-free.
“When my body or my family is running on low, everything else falls apart,” she shared. Her new approach is to slow down, prioritise well-being, and find her own version of balance.
4. Being busy is not the same as being productive
Ghazal noted that her full calendar wasn’t always meaningful. She now asks, “Is this adding value, or just adding noise?” This shift from doing more to doing what matters is something many professionals are waking up to.
5. If you don’t change it, you’re choosing it
By repeatedly telling herself that things would slow down, she realised she was actually agreeing to live like that. Real change, she noted, only happens when we make a choice.
Her final reflection was simple yet profound: “Some lessons come from books. Some, from your child’s one honest question.”
A Reminder for Every Entrepreneur
For entrepreneurs, it’s easy to get caught in the rush of chasing deadlines, scaling faster, and doing more. But as Ghazal reminds us, being busy isn’t the same as building something meaningful. Her reflections show that real success also means knowing when to pause, protect your energy, and focus on what truly matters, whether that’s your team, your family, or your own well-being. Sometimes, slowing down is what helps you grow stronger.
On 12 June 2025, several Indian companies raised fresh funds to grow their businesses. The funding came from well-known investors and covered areas like health, technology, finance, and fashion. Here’s a look at today’s funding roundup.
🚀 Indian Startup Funding Digest – 12 June 2025
Startup
Sector
Amount Raised
Stage
Lead Investor(s) & Key Details
Iom Bioworks
Microbiome Healthtech
₹4 crore
Seed
Inflection Point Ventures (IPV)
Repello AI
AI Security
$1.2 million (~₹10.2 crore)
Seed
Venture Highway, Pi Ventures, Entrepreneur First, angels
PlutoPe
DeFi / Crypto Wallet
$500 K (~₹4.17 crore)
Pre‑Seed
Manit Gupta, EvolveX, others
Kisah Apparels
Men’s Ethnic Fashion
₹13 crore
Pre‑Series A
Sagar Daryani, Apoorv Salarpuria, IPV, others
Iom Bioworks: INR 4 Crore for Microbiome-driven Healthtech
Bengaluru’s Iom Bioworks, specialising in personalised gut microbiome healthcare, has secured INR 4 crore in a seed round led by Inflection Point Ventures (IPV). The company, founded in 2022 by Bipin Pradeep Kumar, Dr Samik Ghosh, and Dr Hiroaki Kitano, leverages AI-driven gut profiling and prebiotic recommendations. The investment will bolster marketing, IP protection, infrastructure, and the growth of scientific and commercial teams. In its first year, it served over 500 customers, holds two granted patents (with two more pending), and publishes in peer-reviewed journals.
Repello AI: $1.2 Million to Fortify GenAI Security
Repello AI, founded in 2024 by IIT Roorkee alumni Aryaman Behera and Naman Mishra and based in Bengaluru and San Francisco, has raised $1.2 million in a seed round. Leading investors include Venture Highway, Pi Ventures, Entrepreneur First, and angels like Charles Songhurst, Vivek Raghavan, and Satya Vyas. The company offers a continuous red‑teaming platform for securing Generative AI, with flagship products ARTEMIS and Repello Guard. Funds will support R&D, threat intelligence, rapid go‑to‑market growth, and strategic alliances.
PlutoPe: $500K Pre‑Seed for Crypto Wallet & DeFi Services
PlutoPe, a non‑custodial crypto wallet and Web3 payment platform founded by Kumar Chetan Tyagi in 2022, has secured $500k (≈INR 4.17–5 crore) in its pre‑seed round led by Manit Gupta. The startup plans to expand its global user base, deepen engagement in emerging markets, and roll out crypto debit cards, multi‑chain swaps, remittances, and merchant infrastructure across MENA, SEA, LATAM, and India.
Kisah Apparels: INR 13 Crore for Offline & D2C Growth
Kolkata-based Kisah Apparels, a men’s ethnic‐wear brand founded in 2018 by Yash Sarawagi and Yashwi Ladasaria, has raised INR 13 crore in its pre‑Series A round, roughly $1.52 million. The round was led by Sagar Daryani (Wow Momo founder), with participation from Apoorv Salarpuria, Rahul Todi, Vinod Dugar, and IPV. Funds will help expand the offline retail network (currently two stores) and strengthen D2C operations, marketing, and product development.
Several brokerages stated in separate notes that Rapido‘s entry into the food delivery market through a pilot in Bengaluru is unlikely to significantly upend the established duopoly of Zomato and Swiggy due to the business’s intrinsic operational complexity, capital intensity, and customer experience issues.
Bengaluru-based Rapido is getting ready to start its meal delivery service with a radically different price structure, opting for flat costs rather than the customary % commissions given to restaurants, according to a media report.
At a time when small restaurant operators are becoming more outspoken about growing aggregator expenses, the move put the ride-hailing company in a position to compete with Zomato and Swiggy.
For food orders under INR 400, Rapido will impose a set INR 25 fee; for orders beyond INR 400, the fee will be INR 50. The restaurant pays Rapido these fixed fees, which are subtracted from the order amount.
Rahul Malhotra of Bernstein, a premier global equity research and brokerage firm, pointed out that although Rapido intends to use its user base of more than 3 million to charge reduced take rates, new competitors have failed in the past. Malhotra pointed to earlier attempts by Ola, ONDC, and Amazon that didn’t scale because of a poor user experience, a fragmented supply, and a small range of restaurants.
Fragmented Food Delivery Market of India
With only about 10% of gross order value (GOV) coming from organised quick-service restaurants and the remainder from smaller eateries, India’s food delivery sector is fragmented, making it more difficult for entrants to reach scale.
Zomato and Swiggy, according to Bernstein, have already spent $2–3 billion developing their meal delivery networks and enjoy a large following of loyal customers. Swiggy had 252,000 active restaurant partners, while Zomato had over 314,000 as of Q4 Q4FY25. According to internal estimations, Bernstein estimated that Zomato and Swiggy held a 54% and 46% share of the meal delivery market, respectively.
Swiggy Leading the Race
Swiggy has been gaining market share in recent quarters. In Q4 Q4FY25, its food delivery GMV grew 18% year over year, surpassing Zomato’s 16% growth. The analysts said, “We do not anticipate material market share impact from Rapido’s entry,” noting that the service would initially be in a trial phase and would only be available in Bengaluru.
Bernstein stated that although Rapido might be able to attract previously unexplored eateries to its platform, especially those with low average order values (AOVs) in Tier 2 and Tier 3 cities, this will increase the market as a whole rather than reduce the number of customers that the incumbents have.
In a similar vein, HSBC referred to the current state of affairs as “déjà vu” for the food delivery sector, which had comparable anxieties during ONDC’s ascent in 2023.
