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  • Rebel Foods Joins the Fast Delivery Group with a 15-Minute Service Goal

    The craze of joining the quick commerce bandwagon is as real as it gets, as is the sprint to reach a netizen’s doorway with a platter full of goodies at unprecedented speeds. With its 15-minute meal delivery service, QuickiES, IPO-bound cloud kitchen unicorn Rebel Foods has also entered the ultra-fast food delivery market. However, Rebel Foods’ list of competitors may be overwhelming to many at a time when smaller competitors like Swish and Zing have already begun to attract attention with their 10- to 15-minute food delivery endeavours. The cloud kitchen startup intends to compete with Zepto, Swiggy, and Zomato in their home market by offering speedy delivery. In addition, the three delivery giants have repeatedly invested millions of dollars to expand their delivery business, sifting through minutes to service clients at their beacon call.

    Logistics Vs Quality of Food

    Rebel Foods, on the other hand, appears unconcerned, and CEO Sagar Kocchar believes that while Swiggy and Zomato excel at logistics regardless of what they provide, Rebel Foods’ unique selling point is food. This faith appears to be further bolstered by the company’s previously unheard-of promise of a free delivery or one in 15 minutes. Dominos was an early adopter with a similar offer; they also guaranteed 30 min or free delivery, and the entire market knows how sustainable that was in the long run.

    Has Rebel Foods Really Cracked the Code?

    Given that the quick meal delivery model is still in its infancy and many things need to be worked out, the market believes that Rebel Foods has truly mastered the ultra-fast food delivery code because of the brand’s confidence. Would it be sufficient to defeat Swiggy and Zomato, who have a stronger brand recall?

    When consumers experience hunger pangs, they immediately seek food, Sagar Kochhar, co-founder and CEO of EatSure at Rebel Foods, stated to a media outlet, asserting that the decision was not prompted by competition or investor pressure. Why shouldn’t food be delivered in 15 minutes? The only thing left to do is to close the gap between the underlying demand and the consumer requirement. The brand was fully supported by consumer insights, but it is undoubtedly monitoring the competition.

    He went on to say that consumers’ initial preference for light snack meals will push them to order quick food, but if the cuisine is good, they will eventually switch to it for all meal occasions. Apart from its own proprietary app EatSure, Rebel Foods has all of its brands listed on the meal delivery apps Swiggy and Zomato. However, EatSure will be the sole way to fulfil all consumer orders for the 15-minute service. Through its EatSure app, the company already has access to user data, which it can use to forecast client demand and properly design its menu—a capability that traditional restaurant brands frequently lack.

    BlackBuck Faces INR 14.2 Crore Tax Demand Notice
    BlackBuck has received a tax demand notice totaling INR 14.2 crore, raising concerns over its financial and compliance obligations.
    StartupTalkyNitin Konde

  • upGrad Sets Up AI Incubator with ₹100 Cr Investment

    upGrad- a leading ed-tech giant with its headquarters located in Mumbai has officially announced the launch of ‘UpGrad AI Incubator’ which is an initiative specifically designed to support Indian AI startups in various niches including education, skill development, and workforce training.

    As a part of this strategic initiative, upGrad has allocated INR 100 crore as seed funding and also provided Indian AI startups with the relevant resources and infrastructure to attain innovative and industry-focused solutions. In the upcoming months, upGrad plans to invest in a group of 5-6 AI startups through its incubator program with the collective aim of supporting innovative solutions enabling the transformation of the education sector. By taking a minority stake in these startups, upGrad will provide strategic investment and guidance to fuel their growth while allowing them to maintain their independence and operational flexibility.

    Founder’s statement on this strategic Move

    Ronnie Screwvala, Co-founder and Chairperson of upGrad stated, ” In today’s rapidly changing digital presence, AI has become an essential skillset for individuals as well as businesses. With the upGrad AI Incubator, we aim to authorize India’s talent pool to become a driving force for innovation and represent our nation at the forefront of global growth. By providing a platform for AI startups to innovate, experiment, and grow, we are committed to promoting a vibrant ecosystem that will accelerate India’s growth to remarkable heights.”

    Promoting Indian Startups like ZuAI to Drive Innovation

    The launch of upGrad’s AI Incubator highlights the progression of its recent collaborations with industry leaders and government bodies, focused on promoting over a million learners with AI skills and establishing AI Centres of Excellence pan India. This mindful initiative underlines upGrad’s dedication to driving growth and innovation in AI education in India.
    As part of its first investment under the incubator, upGrad has invested in ‘ZuAI’, a Bengaluru-based startup that offers 24/7 AI-powered personal tutors for students. However, the financial terms of the deal remain undisclosed.

    upGrad Partners with Maharashtra Government

    A few days ago, the company signed an agreement with the Maharashtra government to establish AI excellence centers across the state, with an initial investment of INR 2,150 Crore.
    In another significant partnership, Neeraj Gera, former COO of Dentsu, has joined the company as the India head for enterprise delivery, while Neha Prasad Mullick, a former Amazon executive, has been appointed as the vice president for enterprise sales in North America.

    About upGrad

    Founded in the year 2015 by Ronnie Screwvala, Ravijot Chugh, Mayank Kumar, and Phalgun Kompalli, upGrad is South Asia’s largest Edtech company with the latest technology and pedagogy. With world-class facilities, the brand offers various programs that include skilling programs, certifications, diplomas, master’,s and executive doctorate programs from top Indian and global universities.
    The company’s vision is to empower career success for every member of the global workforce as their trusted lifelong learning partner.

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    upGrad is India’s largest online education platform. Know about upgrad company, founders, competitors, revenue model, Business Model, and more.
    StartupTalkyChayanika Goswami

  • Shark Tank-Featured Earthful, D2C Plant-Based Nutrition Brand Raises INR 5 Crore to Expand Product Portfolio

    • Earthful has raised a total of INR 8 crore in funding to date with this latest fund infusion of INR 5 crore.
    • Round led by Srinivasan Namala, Founder of Porus Labs. 
    • Participation from Ritesh Agarwal, Founder, of OYO Rooms of an additional INR 75 lakhs will come following his investment commitment on Shark Tank India Season 4
    • Earthful is a D2C plant-based nutrition brand committed to providing science-backed supplements
    • Funds raised to be used in R&D of new products, improving brand presence, and building a strong core team.
    • The company has an ARR of Rs 15 crore with a customer base of over 1 lakh and a repeat ratio of 40-50 % recording a 3x growth in the current financial year

    Earthful aims to achieve 5x growth over the next 12 – 18 months driven by momentum from Shark Tank and strategic branding collaborations

    Hyderabad, 27th February 2025: Earthful, a leading plant-based nutrition brand, has raised INR 5 Cr led by a seasoned entrepreneur Srinivasan Namala, who has built Porus Labs and exited to Bain Capital for over INR 2,400 crores. Ritesh Agarwal (Founder of OYO Rooms) will also be participating following his investment commitment to Shark Tank India Season 4. The Company has raised over $1 million to date in funding including the current investment. 

    Founded in 2020 by IIT Kharagpur alumnae and sisters Veda Gogineni and Sai Sudha G., Earthful is a clean, plant-based nutrition brand dedicated to offering 100% natural supplements, free from chemicals and additives. With a strong focus on science-backed formulations, Earthful provides multivitamins designed to fill daily nutrition gaps across different age groups, along with targeted solutions for Skin, Hair, Sleep, and PCOS. It is also among the first in India to create a clean, 100% natural multivitamin specifically for menopausal women. The product range includes plant-based proteins and a junk-free, natural Kids’ chocolaty milk mix powder. 

    Veda Gogineni, Co-founder of Earthful says, “This funding will help us bring Earthful’s clean, effective nutrition to more households across India. We believe wellness should be simple, transparent, and never compromise on purity or taste. The loyalty of our repeat customers speaks volumes about their trust in our brand and products.”

    The funds will be deployed for research and development of new products and strengthening brand presence. The company is also focused on building a strong leadership team across marketing and operations to accelerate its next growth phase.

    In the last 12 months, Earthful has witnessed an impressive 3x growth, reaching over 1 lakh customers with a strong 40-50% repeat purchase rate. The company is currently at a INR 15 Cr annual revenue run rate, with 70-75% of sales coming directly from its website, demonstrating deep consumer trust and loyalty.

    Srinivasan Namala, Founder of Porus, Labs, says, “I believe that over the next 5-7 years, the nutraceutical market in India will experience significant growth, driven by a rising number of health-conscious Indians. Earthful, with its strong brand values and commitment to clean, plant-based nutrition, is well positioned to capitalize on this opportunity.”

    Earthful is ramping up production and expanding warehouse operations to support its rapid business growth. With a strong focus on innovation, the company is set to launch 3-4 new products every quarter, backed by significant investment in research and development.

    Staying focused on its mission of making clean, plant-based nutrition both accessible and delicious, Earthful recently launched Japanese Matcha and coffee Mocha protein flavors, all completely natural and free from additives and preservatives. The company has also introduced a Kids’ Milk Mix powder, a nutritious blend of millets, plant-based protein, calcium, and Vitamin D3 made with real cocoa. 

    Earthful products are currently available on leading e-commerce and quick commerce platforms like Amazon, Flipkart, Instamart, and the company’s website. The brand is gearing up for 5x growth over the next 12 – 18 months, driven by new category expansion and upcoming strategic branding collaborations. The company is also set to expand into offline retail, making its products more accessible to consumers across India. Over the next three years, Earthful aims to build a INR 500 Cr brand, establishing itself as a leader in the plant-based nutrition segment. 

    About Earthful

    Earthful was founded in 2020 with a mission to tackle undernutrition in India through clean, plant-based nutrition. Our formulations are 100% natural—free from additives and preservatives—ensuring safe, effective solutions for every stage of life. From multivitamins and plant-based proteins to kids’ nutrition, we cater to growing children, active adults, and even those navigating menopause. In fact, we are among the first brands in India to create a 100% natural supplement specifically designed for menopausal women. With over 1 lakh customers and a strong 70-80% of sales coming directly from our website, Earthful is a brand truly trusted and loved. Our products are also available on major e-commerce and quick-commerce platforms like Amazon, Flipkart, and Swiggy Instamart. Rooted in science and powered by nature, Earthful is redefining everyday nutrition—making it clean, effective, and accessible to all.

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    StartupTalkyVivek Dev Jacob

  • The Government and Paytm sign MOU to Provide Indian Companies with Capital, Market Access, and Mentorship

    The ministry of commerce and industry said in a statement on 26 February that the Department for Promotion of Industry and Internal Trade (DPIIT) and digital payments company Paytm have inked a memorandum of understanding (MoU) to promote innovation and quicken the expansion of fintech and manufacturing startups in India. Paytm will provide businesses with market access, financial opportunities, infrastructure support, and mentorship as part of the relationship.

    According to the press announcement, the partnership’s goal is to assist fintech hardware entrepreneurs in developing and scaling payment and financial technology solutions by providing them with innovation assistance and mentorship. Through workshops and guidelines developed in partnership with government and industry entities, it will also offer regulatory and compliance support.

    Offerings of the MoU

    Through the partnership’s infrastructure and market access support, businesses may take advantage of Paytm‘s vast merchant network to test, validate, and improve their solutions. In front of senior representatives from both organisations, DPIIT Director Sumeet Kumar Jarangal and Paytm Founder and CEO Vijay Shekhar Sharma signed the Memorandum of Understanding. This collaboration with Paytm is an important step in bolstering India’s startup environment, according to DPIIT Joint Secretary Sanjiv. DPIIT wants to help entrepreneurs overcome obstacles, scale their businesses, and help India become a worldwide innovation hub by utilising Paytm’s fintech infrastructure and skills.

    Paytm for Startups Initiative

    Paytm will introduce specific programs to assist fintech hardware manufacturers, such as Soundbox and PoS/EDC device makers, in expanding effectively as part of its Paytm for Startups effort. Mentorship programs, financial access via investor connections and incubation programs, regulatory guidance through industry-focused workshops, and recurring tracking and effect evaluations are all part of the projects.

    The Paytm Foundation will fund deep-tech startups in the fields of Mobility, agritech, Web3, and Climate Technology through its CSR division. According to Vijay Shekhar Sharma, the current period is the optimal moment for startups to begin and expand under the leadership of Prime Minister Narendra Modi. Paytm is dedicated to enabling business owners by providing access to state-of-the-art technology, financial support, and mentorship. Through this partnership, the company will guarantee that startups have the resources they need to thrive from the ground up.

    Financial Dynamics of Paytm

    Thanks to the rebound in its digital payments sector, the fintech giant reduced its consolidated net loss from INR 221.7 Cr in the December quarter of Q3 FY25 to INR 208.5 Cr, a 6% decrease. Additionally, Paytm’s operating revenue decreased 36% from INR 2,850.5 Cr in Q3 FY24 to INR 1,827.8 Cr in the reviewed quarter.

    Nevertheless, Vijay Shekhar Sharma, Founder and CEO, stated that the fintech company is on course to achieve profitability in the upcoming quarter (Q1 FY26) in accordance with the management’s expectations. Additionally, Paytm CFO Madhur Deora stated on the Q3 FY25 earnings call that the business anticipates becoming profitable on an adjusted EBITDA basis within a quarter or two.

    PhonePe Picks 4 Banks for IPO, Targets $15 Billion Valuation
    PhonePe has chosen four banks for its upcoming IPO, targeting a valuation of up to $15 billion as it prepares for a major public listing.
    StartupTalkyNitin Konde

  • For ISRO, IIT Madras Designs Indigenous Shakti Semiconductor Chip

    The open-source RISC-V Instruction Set Architecture (ISA) serves as the foundation for this chip, which is a component of the Shakti family of microprocessors and represents a significant advancement in lowering India’s reliance on imported semiconductor technology. IIT Madras built and implemented the IRIS chip, which was first envisaged by ISRO’s Inertial Systems Unit (IISU) in Thiruvananthapuram.

    In India, every step of the development process—chip design, production, packaging, motherboard assembly, and software booting—was completed. This accomplishment demonstrates India’s capacity to establish a comprehensive semiconductor ecosystem. The goal of IIT Madras’ Shakti project, headed by Prof. V. Kamakoti, is to develop adaptable processors for a range of uses.

    What is IRIS Chip and its Usage?

    Fault-tolerant internal memories and specially designed modules like CORDIC and WATCHDOG Timers are features of the IRIS chip, which is designed for space applications. In addition to other essential tasks for space missions, it is made to satisfy the computational demands of ISRO’s command and control systems.

    Prof. V. Kamakoti, the director of IIT Madras, stressed the value of employing domestic microprocessors for strategic initiatives and national security. “Any computing system’s brain is the CPU. Instead of doing what you don’t want it to, it should do what you want it to,” he said. Greater flexibility and cost-effectiveness are made possible by the Shakti processor’s open-source nature, which also lowers the cost of replacing parts and permits the use of outdated interfaces.

    ISRO Appreciating the Discovery

    The microprocessor design and stress tests have been deemed satisfactory by ISRO experts, who will now move forward with their own testing. In addition to enhancing India’s space capabilities, this partnership between IIT Madras and Isro shows off the nation’s developing semiconductor technological skills and opens the door for more domestic space exploration advancements in the future. The creation of water-free concrete that might be utilised to build buildings on the Moon and Mars was previously disclosed by IIT Madras.

    About ISRO

    The Government of India’s space agency, the Indian Space Research Organisation (ISRO), has its main office in Bangalore. Its goal is to “harness space technology for national development while pursuing space science research and planetary exploration.” The Indian National Committee for Space Research (INCOSPAR), which was founded in 1962 by Jawaharlal Nehru, the country’s first independent prime minister, and his close scientist and assistant Vikram Sarabhai, was replaced by ISRO in 1969.

    Thus, the creation of ISRO formalised India’s space endeavours. The Department of Space oversees it and answers to the Indian Prime Minister. Aryabhata, the first satellite created by ISRO for India, was launched by the Soviet Union on April 19, 1975. It bears the name of Aryabhata, the mathematician.

    The SLV-3, an Indian-made launch vehicle, launched Rohini into orbit in 1980, making it the first satellite to do so. Later, ISRO created two further rockets: the Geosynchronous Satellite Launch Vehicle (GSLV) to place satellites in geostationary orbits and the Polar Satellite Launch Vehicle (PSLV) to launch satellites into polar orbits.

    Numerous Earth observation and telecommunication satellites have been launched using these rockets. There has been the deployment of satellite navigation systems such as GAGAN and IRNSS. ISRO launched the GSAT-14 using a domestic cryogenic engine in January 2014.

    Indian Railways Partners with IIT-Madras for Air Mobility Solutions
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  • Perfios Introduces INR 645 Cr New ESOP Scheme

    Ahead of its much-awaited $500 million initial public offering (IPO), Fintech SaaS startup Perfios has developed a new employee stock option plan (ESOP) for its staff called “Perfios ESOP 2025-A.” At an extraordinary general meeting on February 5, the company’s board approved the plan to launch the new ESOP program. The company will offer 2.05 lakh stock options to its employees via the Perfios ESOP 2025-A program, according to regulatory records that are available at the Registrar of Companies. The development was initially reported by Entrackr. According to the report, the recently added stock options are valued at over INR 645 Cr, or almost $76 million.

    What is the New ESOP Plan and Company’s Preparation Before its IPO?

    Under the new plan, after the four-year vesting period is up, Perfios will issue, distribute, and allot an equal number of equity shares to its employees. Perfios, which was founded in 2008 by VR Govindarajan and Debasish Chakraborty, offers financial institutions software solutions for a variety of purposes, including credit decisions, analytics, onboarding automation, and due diligence. After raising $80 million from Teachers’ Venture Growth (TVG), the late-stage investment division of the Ontario Teachers’ Pension Plan, a Canadian pension fund, Perfios became a unicorn in March 2024. The most recent development coincides with rumours that Perfios intended to raise $500 million at a $2 billion valuation through its initial public offering (IPO). There have been rumours that the fintech SaaS startup was considering going public in 2024. In November 2023, Perfios named Anu Mathew as chief people officer (CPO) and Sumit Nigam as chief technology officer (CTO) in anticipation of a possible initial public offering (IPO).

    Perfios’ Recent Developments and Financial Outlook

    According to reports, Perfios was in negotiations to enter the US market in October 2024 as part of its development strategies to spur growth. For an undisclosed sum, it purchased CustomerXPs, the parent company of banking fraud management startup Clari5, earlier this month. From INR 7.8 Cr in the previous fiscal year to INR 71.7 Cr in the fiscal year 2023-24 (FY24), Perfios’ consolidated net profit soared by 819%. From INR 406.8 Cr in FY23 to INR 557.8 Cr in the year under review, revenue from operations increased 37.1%.

    As an attraction tactic and a means of generating income, a number of cutting-edge software companies, like Razorpay, Flipkart, Swiggy, Nykaa, and Delhivery, have offered their staff ESOPs in recent years. In 2024, 16 cutting-edge tech businesses took part in ESOP buybacks, creating $148 million in wealth for their employees, in addition to Indian startups issuing ESOPs.

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  • Jamie Dimon, CEO of JP Morgan, Maintains his Stance on the Office Return Policy

    Despite significant employee opposition, Jamie Dimon, the CEO of JPMorgan Chase, has strengthened the bank’s return-to-office (RTO) policy. His annoyance with workplace attendance, including his use of profanity when rejecting a petition against in-office obligations, was exposed in a February town hall audio that was leaked. Dimon made it plain that the bank’s stance on the issue has not changed, even though he later acknowledged that he regretted the terms he used.

    Why Chase Wants Orthodox Work Culture?

    Concerns about the RTO (Return To Office) mandate, which compels staff to be in the office five days a week starting on March 3, prompted Dimon to respond forcefully during the town hall. He allegedly responded, “Don’t waste time on it,” in reference to a petition against the policy that was signed by more than 1,700 employees. “The number of people who sign that ******* petition doesn’t matter to me,” he added further.

    He was adamant about the policy, nevertheless. I have the utmost regard for those who choose not to work five days a week. You have that right. However, he continued, people should respect that the business, not the person, will determine what is best for the client, the business, etc. “They can get a job—I’m not being mean—they can get a job elsewhere,” he added. “I completely get that doing so might make perfect sense for them.”

    Employees Voicing Against the Decision

    A number of JPMorgan staff members expressed their disapproval of the policy both during and after the town hall. Tech operations analyst Nicholas Welch said he was given a warning regarding his job security after he proposed letting team managers decide on RTO policies. Later, Dimon emphasised, “I have never, ever fired anyone because they asked a question like that.” Dimon rejected the notion. Welch is still employed and in good standing with JPMorgan Chase, a representative told a news outlet. Dimon’s comments regarding diversity, equality, and inclusion (DEI) initiatives have also come under fire, in addition to workplace standards. He was heard blasting the bank’s expenditures on DEI-related initiatives in a different leaked audio clip that Bloomberg was able to get.

    According to reports, Dimon added, “I was really irritated by the way we were spending money on some of this dumb s***.” “I’m simply going to cancel them. I dislike bureaucratic waste of money. Dimon later defended his comments in a CNBC interview, stating that certain DEI programs were either too many, ineffectual, or unduly dependent on outside consultants.

    He did, however, restate the bank’s dedication to diversification initiatives. Our outreach to the Black, Hispanic, LGBT, veteran, and disability populations will continue. “We’re not going to change that,” he stated. There has long been discussion over Dimon’s straightforward and even brazen leadership style. Although his strong beliefs have made him a divisive figure, his admirers contend that his firm approach is consistent with his goals for JPMorgan’s prosperity. The argument over remote work is still going strong as the bank implements its in-office policy. One thing is certain, though: Dimon has no intention of changing direction.

    PhonePe Picks 4 Banks for IPO, Targets $15 Billion Valuation
    PhonePe has chosen four banks for its upcoming IPO, targeting a valuation of up to $15 billion as it prepares for a major public listing.
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  • ZuperAI and KiranaPro Collaborate to Provide AI-Powered Retail Market Solutions

    Quick commerce platform KiranaPro has teamed up with B2B management platform ZuperAI to provide its users with AI-based retail market solutions, only days after enlisting PV Sindhu as an investor. In order to help consumers and merchants with product discovery, inventory optimisation, and supply chain efficiency, KiranaPro will incorporate ZuperAI’s “Matchmaking AI” technology as part of this collaboration. The connection would help businesses grow their business while also making it easier for users to find products. The fast commerce startup hopes to create a tailored shopping experience while bridging the gap between consumers and retailers. Deepak Ravindran, the founder and CEO of KiranaPro, stated that this partnership is revolutionary for AI-powered business, opening up new possibilities for accuracy, customisation, and operational effectiveness.

    Joining Network of ONDC

    The fast commerce company just joined ONDC, making it the first platform in India to access the nation’s network of more than 7 lakh registered merchants. Before expanding farther into Kerala, the ONDC-powered platform will first begin operations in Hyderabad and Thiruvananthapuram. KiranaPro was founded in 2024 by Ravindran and Dipankar Sarkar with the goal of transforming traditional kirana (retail) establishments by providing them with a flexible income model and an AI-driven interface that aids in managing their digital operations. KiranaPro links local mom-and-pop shops with consumers directly, in contrast to other quick commerce systems that rely on dark stores. Because of its collaboration with ONDC, the firm operates throughout India.

    Why Quick Commerce Companies are Keeping its Platform Hi-Tech and Updated?

    To increase its presence in the hyperlocal retail market, it also purchased Joper.app, a hyperlocal grocery delivery business, earlier this month. In addition to bolstering KiranaPro’s position in the hyperlocal commerce market, the acquisition of Joper.app guarantees local business owners superior tech-enabled solutions that enhance productivity and customer satisfaction, according to Deepak Ravindran, co-founder and CEO of KiranaPro. The action is in line with KiranaPro’s goal of enabling small merchants to take on the big rapid commerce titans. KiranaPro and the merchants collaborating with the brand will benefit from Sumit Gorai’s (founder of Joper.app) knowledge and insights on the mechanics of operating a retail business in India, which he frequently discusses on his YouTube channel.

    The growth coincides with intense competition in India’s fast commerce market. Leading companies like Zomato, Swiggy, and Zepto are rapidly growing their quick commerce services, which allow them to deliver food and household necessities in as little as ten minutes. These companies have recently introduced a number of rapid commerce services, such as Swiggy’s SNACC, Zomato’s Bistro, and Zepto Cafe, among many more. Additionally, Zomato’s Blinkit launched a 10-minute ambulance service last month. Notably, the three giants collectively recorded over $1 billion in revenue in FY24, and a survey indicates that sales in India’s rapid commerce sector have increased by 280% over the past two years.

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  • The CEO of Capgemini India Advocates for a 47.5-Hour Workweek

    Ashwin Yardi, CEO of Capgemini India, has argued for a more balanced approach to working hours in India and rejected the notion of an extended 70- to 90-hour workweek. “47 and a half hours” is how Yardi defended a 47.5-hour workweek when speaking at the Nasscom Technology and Leadership Forum (NTLF) in Mumbai. “Five days a week, we have roughly nine hours each day,” he stated. According to a news outlet, he stated, “My guiding principle for the last four years is don’t send an e-mail on a weekend even if it is an escalation unless you know you can solve it on a weekend.”

    Why is Yardi Promoting a 47.5-hour workweek?

    Although Yardi admitted that he occasionally works on the weekends, he stated he avoids sending needless emails to staff members because doing so would simply lead to “grief” rather than any useful outcomes. Sindhu Gangadharan, the chairperson of Nasscom and the head of SAP India, highlighted at the same event that workplace productivity should be outcome-driven rather than determined by hours worked. While acknowledging that she occasionally sends emails late at night, Marico CEO Saugata Gupta expressed a similar view.

    Yardi’s comments coincide with a continuing discussion that was triggered by L&T Chairman SN Subrahmanyan’s proposal for a 90-hour workweek and Infosys co-founder NR Narayana Murthy‘s demand for a 70-hour workweek. In a recent conversation with staff members, Subrahmanyan confessed to not being able to force them to work on Sundays. “I’m sorry, but I can’t have you work on Sundays,” he remarked.

    Accepting the Expectations of Young Minds

    Given the demographics of IT workers, Yardi previously stated that it is critical for organisations to adjust to the demands of their younger workforce and outline the strategies they are implementing. While hard work is crucial, Vinay Dube of Akasa Air stated that he does not believe in the concept of working 70-hour weeks and that he does not expect others, particularly young professionals, to do the same. I do not want children to put in seventy hours of work. “How can I expect them to do it if I’m not doing it?” he asked. Dube emphasised the value of work-life balance since he thought that young people might advance their careers and still have personal lives. He went on to say, “I want people to have that perspective,” emphasising that many individuals later regret not spending more time with their friends and family.

    Murthy Dissecting from his Earlier Claim

    The 78-year-old former tech CEO advocated for India’s youthful labour to put in more hours at work in an October 2023 podcast, arguing that this would help the nation reach its full potential on a global scale. India has some of the lowest work productivity in the world, he claimed. “We won’t be able to compete with those nations that have made great strides unless we increase our productivity at work, decrease government corruption to some extent (because we’ve been reading, I don’t know the truth), and shorten the time it takes for our bureaucracy to make decisions.

    Murthy, however, recently stated that no one should force someone else to work long hours and that such matters should be investigated. Murthy stated that no one should have the authority to impose lengthy work hours during his speech at the Kilachand Memorial Lecture in Mumbai on January 21. “I can state that I used to arrive at work at 6.20 am and depart at 8.30 pm. I have done it; that much is true. It’s incorrect for anyone to say “no.” I’ve been doing it for about 40 years. These, in my opinion, are not matters that need to be explored or argued. One can reflect on these concerns, absorb information, draw conclusions, and take any action they choose. That’s it. Nobody can tell you if you should do something or not,” he remarked.

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    The Government and Paytm have signed an MOU to support Indian companies by offering capital, market access, and mentorship to boost business growth.
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  • PhonePe Selects Four Banks for IPO, Aiming for Valuation of Up to $15 Billion

    PhonePe, owned by Walmart, has selected four investment banks as advisors as India’s leading digital payments platform aims to enter the domestic tech IPO sector, targeting a valuation of up to $15 billion. As per a media report, PhonePe plans to initiate the IPO process in the first week of March and has engaged Kotak Mahindra Capital, JP Morgan, Citi, and Morgan Stanley. Additional advisors may be incorporated at a subsequent phase if necessary.

    A media report corroborated this information and indicated that the IPO would likely consist of both main and secondary share issuances, with the listing anticipated in FY26. During a kick-off meeting, the issuing firm outlines essential strategies and the timeline for the IPO, as well as delineates the roles and responsibilities of the assembled advisors.

    The media report indicates that this is anticipated to be a significant tech IPO from a market leader, with the issue size projected to exceed one billion dollars. These are preliminary stages, and the plans may evolve based on market conditions; nonetheless, currently, the firm intends to forgo potential profits for investors and is targeting a valuation of up to $15 billion.

    Major Investors in PhonePe

    The company stated in its FY24 annual report that PhonePe has garnered an impressive array of distinguished investors, who have collectively invested over INR 18,000 crore in the organisation to date. Walmart holds the largest holding, with additional investors including Microsoft, General Atlantic, Tiger Global, Ribbit Capital, TVS Capital, Tencent, and the Qatar Investment Authority. Notably, the share price of the publicly traded fintech counterpart One 97 Communications Limited, which owns and operates the Paytm brand, has increased by 72.28% during the past year.

    Strategy to go Public

    On February 20, PhonePe announced the initiation of preparatory measures for a prospective initial public offering (IPO) to be listed on Indian exchanges. Doug McMillon, CEO of Walmart, announced that PhonePe, Walmart’s fintech subsidiary, is preparing for an IPO in India. PhonePe’s staff has long desired to become a public company, and Walmart is enthusiastic about initiating these preliminary steps. PhonePe re-established its domicile from Singapore to India in December 2022. The corporation announced the establishment of a definitive corporate structure, designating each of its new non-payment enterprises as wholly owned subsidiaries.

    The company stated that PhonePe’s robust revenue and profit development throughout its varied business portfolio, as outlined in its FY23-24 annual report, renders this an opportune moment to initiate preparations for a public offering. Located in Bengaluru PhonePe is the preeminent digital payments entity in the country, commanding approximately 48 percent of the market share in the Unified Payments Interface (UPI), a real-time mobile payments platform operated by the National Payments Corporation of India (NPCI). Google Pay has the position of the second largest competitor, commanding a market share of approximately 37 percent.

    The NPCI previously specified that no single non-bank third-party application may possess more than 30 percent of the market share, aiming to foster competition and mitigate the duopoly situation.

    Nevertheless, the organisation had to prolong the deadline twice, extending it by two years to prevent discomfort to customers. The RBI said in a circular on December 31 that, taking into account various variables, the deadline for compliance of current TPAPs exceeding the volume cap is extended by two years, till December 31, 2026.

    Walmart-Owned PhonePe Prepares for India IPO
    Walmart-owned PhonePe is preparing for its IPO in India, aiming to strengthen its market presence and expand its financial services portfolio.
    StartupTalkyNitin Konde