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  • Vaishnaw Claims India’s Local Foundational AI Platform to be Ready in Ten Months

    On February 4, Union Minister Ashwini Vaishnaw stated that a local foundational AI platform is anticipated in ten months, and that India may be able to develop its own high-end processing hardware, known as GPUs, in the next three to five years.

    Vaishnaw stated that the government will provide 18,000 top-tier GPU-based computing facilities for AI development to entities in the nation within the next few days and anticipates India’s own AI platform within ten months during a Budget Roundtable 2025 hosted by two renowned media houses.

    According to Vaishnav, the Ministry is considering three different solutions, each of which would include building the country’s own GPU using a chipset that is reasonably priced and either open source or licensed. The entire world has adopted this strategy, which will enable each nation to have its own GPU within three to five years.

    Surge in GPU’s Demand

    In the past, multimedia content processing involving several computational operations, such as gaming and video processing, was handled by GPUs (graphics processing units). However, the global demand for AI has caused a sharp increase in the demand for GPUs, and the US chip manufacturer Nvidia controls more than 80% of the industry. According to the minister, Indian Railways increased the confirmed ticket rate by 27% by leveraging AI models, and a number of start-ups have grown really effectively, albeit in comparison to ChatGPT.

    According to him, developing artificial intelligence models requires high-end computing equipment, which can only be purchased by wealthy individuals. However, the government has put in place a system that allows everyone to access computing infrastructure at a reasonable cost. Vaishnaw added that researchers, academicians, companies, institutions, and IITs may all access this computing capability and use it to launch foundational models.

    When asked whether India would have its own foundational model for AI, Vaishnaw responded, “10 months is the outer limit.”  According to him, there are numerous research papers that essentially discuss mathematical techniques that, for instance, the Chinese artificial intelligence company DeepSeek has employed to make the entire process extremely effective.

    Make In India Churning Jobs for Indians

    According to Vaishnaw, 12 lakh direct and indirect jobs have been created by the government’s mobile manufacturing division under the Make in India initiative. In order to demonstrate the degree of quality and accuracy attained by Indian electronic industries, he displayed a metallic object that was made up of numerous precisely linked pieces, without any apparent lines.

    He claimed that it took three years for a well-known Indian business to reach the high degree of accuracy needed by a vendor to supply parts for the production of Apple and Samsung’s high-end smartphones.

    India now produces a number of goods and parts needed in the mobile phone sector, such as chargers, battery packs, various mechanics, USB cables, keypads, display assemblies, camera modules, lithium-ion batteries, speakers and microphones, vibrator motors, and more, according to the minister.

    India Develops Its Own LLM to Tackle AI Challenges
    India is developing its own large language model (LLM) to strengthen its AI capabilities, ensuring technological independence and competitiveness in the global AI landscape.
    StartupTalkyNitin Konde

  • Curefoods Engages Hrithik Roshan as an Investor; Rebrands EatFit as ‘Kitchens of EatFit’

    Bollywood star Hrithik Roshan has joined Bengaluru-based cloud kitchen startup Curefoods as a brand ambassador and investor for EatFit, the company’s flagship brand, which is now being rebranded as “Kitchens of EatFit.” The business did not, however, provide the deal’s financial details.  According to a corporate release, EatFit (EF), HRX by EatFit, Great Indian Khichdi (GIK), Homeplate, Chaat Street, Rolls on Wheels, Millet Express, and Madras Curd Rice corporate are among the eight brands that are part of The Kitchens of EatFit.

    According to the company’s official statement, Curefoods wants to make “Kitchens of EatFit” a trustworthy symbol that is associated with the brands’ dedication to the highest standards of nutrition and food safety, with an emphasis on ISO-Certified Kitchens, Zero Chemicals, and Zero Trans Fat.

    Redefining the Future of Food

    According to Ankit Nagori, the founder of Curefoods, “The brand is set to rewrite the present state of food, inspiring trust and innovation across the industry, with Hrithik Roshan as the company’s brand ambassador and investor.” With “Kitchens of EatFit,” the company hopes to expand its wholesome menu to over ten cities nationwide.

    “As an investor and ambassador, I am honoured to be a part of this journey, and I have no doubt that Kitchens of EatFit will establish new standards in the food industry,” Hrithik Roshan remarked. The development occurred as the company is considering listing on stock exchanges. It has recently begun discussions with bankers to present its IPO proposal, and advisers are anticipated to be finalised in the next few days. As part of the 2025 startup IPO wave, Curefoods is getting ready to make its first public offering (IPO) soon.

    Proposed IPO

    According to reports, the Accel-backed business is expected to raise between $300 and $400 million through the sale of its first shares during the later half of the fiscal year 2025–2026 (FY26). It is important to remember that the IPO’s size is still subject to vary based on how many secondary shares are sold by current owners.

    Furthermore, the business has made a calculated investment in packaged ice solutions from Dras Ice in order to take advantage of the frozen chain logistics of the latter and enhance its distribution capabilities for quick-service restaurants (QSRs) and cloud kitchens.

    According to the company’s filings with the Registrar of Companies, its consolidated revenue increased by 53% to INR 585 crore in FY24 from the previous fiscal year. According to media estimates, Curefoods anticipates ending FY25 with an annual revenue run-rate of about INR 1,000 crore. According to data, the startup’s consolidated loss decreased from INR 342.7 crore to INR 172.6 crore in FY24.

    Flipkart Rebrands Groceries as “Kilos” with Wholesale Pricing
    Flipkart rebrands its grocery section as “Kilos,” offering essential items at wholesale prices to enhance affordability and convenience for customers.
    StartupTalkyNitin Konde

  • The 1% Club, Led by Sharan Hegde, Receives an RIA Licence from SEBI

    At a time when the Securities Exchange Board of India (SEBI) has tightened its grip on financial influencers, well-known financial influencer Sharan Hegde’s company, 1% Club, has obtained an Investment Advisor (RIA) licence. Subject to certain rules established by SEBI, the licence permits a person or business to function as an RIA, which is legally permitted to offer customers financial advice on investments in the Indian market.

    Now, the company’s Personal CFO division complies completely with the stringent regulations set forth by SEBI. According to Hegde, the business is now the first influencer-led enterprise to obtain a SEBI-RIA licence. Working with leading compliance and legal organisations in the nation, the process of acquiring the licence took six to eight months.

    Finfluencers not Preferred Choice for SEBI

    According to Hegde, people have been demanding that finfluencers register since SEBI has been harshly critical of them for the past one to one and a half years. He noted that the business currently has 45 employees and advises about 1,000 clients on financial matters. In less than a year, the firm has managed INR 1,000 crore in assets under advisory (AUA). This has been accomplished profitably by the 1% Club.

    Hegde wants to continue scaling it. The company will eventually be able to employ at least 1,000–2,000 people in financial planning roles, each of whom will be able to assist 200–300 clients. The enterprise would have just touched the surface of India’s needs, even if it were extremely successful.

    India Need More Financial Advisors – Hegde

    A financial counsel is desperately needed in India right now, Hegde opined. At the moment, only those with savings of at least INR 2 to 3 crore have a financial planner. India needs about 10 lakh financial planners, according to SEBI. We only have a thousand, though. Therefore, if you ask any middle-class Indian today, they have no financial planner and haven’t ever considered what one is. Hegde went on, “So, we felt that there is a huge gap in the market to offer this as a service.” Co-founder Raghav Gupta stated, “We will put what we have been preaching into practice under the Personal CFO division, which is a subsidiary in the parent company.”

    “Because no one likes studying, everyone has been quite critical of education corporations. Thus, we aimed to be as good as we talked. Since many individuals claim that everyone can produce content and earn money, we don’t want to only teach.” With the laws and compliance that SEBI has adopted, this licence is our social proof to the world that we can actually do it,” Hegde stated.

    Government Cuts RuPay & UPI Transaction Incentives in Budget 2025
    Budget 2025 reduces incentives for RuPay and low-value UPI transactions, impacting digital payments. Find out how this change affects users and merchants.
    StartupTalkyNitin Konde

  • Amid Changing Global Regulatory Environment, India is Reevaluating its Stance on Cryptocurrency

    According to a senior government official who spoke with an international news agency recently, India is reevaluating its position on cryptocurrencies in light of changing perceptions of the virtual asset in other nations. A discussion paper on cryptocurrencies that was scheduled for release in September 2024 may be further delayed by the review, which comes after US President Donald Trump announced policies that are favourable to cryptocurrencies.

    Regarding the use, acceptance, and perceived significance of cryptocurrency assets, more than one or two jurisdictions have altered their positions. India’s Economic Affairs Secretary Ajay Seth stated in an interview, “In that step, we are looking at the discussion on the paper again.”

    No Unilateral Stance on Cypto

    India’s attitude cannot be one-sided, according to Seth, because such assets “don’t believe in borders.” He made no mention of the US, where Trump fulfilled his pledge to restructure US crypto policy last week by directing the formation of a working group on cryptocurrencies to develop new rules for digital assets and investigate the establishment of a national cryptocurrency reserve.

    Despite the country’s strict regulations and high trade taxes, Indians have been investing heavily in cryptocurrencies in recent years. In December 2023, nine offshore cryptocurrency exchanges received show-cause notices from India’s Financial Intelligence Unit (FIU) for violating local regulations.

    Why Indian Authorities are Keeping a Close Eye?

    Despite the increasing use of digital assets in the nation, India has so far adopted a stringent regulatory approach to cryptocurrency. For the second consecutive year, India led the world’s adoption of cryptocurrencies in 2024, according to a Chainalysis study. In 2022, India imposed a steep 30% capital gains tax and a 1% tax deducted at the source on cryptocurrency transactions over INR 10K.

    India’s Financial Intelligence Unit (FIU) sent show-cause notices to nine cryptocurrency exchanges in December 2023, including Binance, Kucoin, and Bitfinex, for allegedly “illegally” conducting business in the nation through offshore businesses. Several federal organisations are currently looking into WazirX after hackers took about $235 million from one of its wallets in July of last year.

    Over 4 million Indians have yet to fully recoup from the losses caused by the breach. Several cryptocurrency companies, including OKX, Pillow, Flint, and WeTrade, have had to close their doors as a result of India’s crackdown on the sector.

    India’s market watchdog suggested last year that multiple regulators monitor cryptocurrency trading, indicating that at least some Indian officials are willing to permitting the usage of private virtual assets. The country’s central bank, which has insisted that private digital currencies pose a macroeconomic danger, disagreed with that stance.

    Paytm to Acquire 25% Stake in Brazilian Fintech Dinie
    Paytm is set to acquire a 25% stake in Brazilian fintech company Dinie, expanding its global footprint in digital lending and financial services.
    StartupTalkyNitin Konde

  • So Far, PMKVY 4.0 has Trained About 20,000 People in AI Courses

    According to the Centre, 19,774 people have received training in various artificial intelligence (AI) courses thus far under the Pradhan Mantri Kaushal Vikas Yojana’s fourth iteration (PMKVY 4.0). In order to increase job prospects in the AI industry, the government offers short-term training, upskilling, and reskilling courses to youth nationwide.

    In response to a query, the government disbursed INR 7.13 Cr as of December 31, 2025, under the PMKVY 4.0 initiative to close the AI talent gap, according to Jayant Chaudhary, minister of state for skill development and entrepreneurship. With 2,561 and 2,055 people trained under the program, respectively, Uttar Pradesh and Bihar were the top two states. With 2,109 “orientated” applicants, Tamil Nadu came in third, followed by Andhra Pradesh (1,735) and Telangana (1,726).

    The candidates received training in subjects like AI (business intelligence analyst), AI (data architect), and AI (data engineer), among others, under PMKVY 4.0. Nearly 20.9 lakh candidates have registered on the FutureSkills PRIME portal thus far, the minister added. Of them, 8.96 lakh people have signed up for different courses, and 4.34 lakh candidates have finished their AI and big data analytics courses successfully. There are presently 157 courses available in the two domains on the FutureSkills PRIME platform.

    DGT’s Partnership with Microsoft and Edunet Fuelled the Growth

    Choudhary added that 442 trainees have been enrolled in a year-long AI programming assistant (AIPA) course under the craftsmen training scheme (CTS) at 19 National Skill Training Institutes (NSTIs) nationwide by the Directorate General of Training (DGT), in collaboration with Microsoft and the Edunet Foundation. Chaudhary added that the “YuvAi initiative for Skilling and Capacity Building” has been launched by the Ministry of Electronics and Information Technology (MeitY) in partnership with the All India Council for Technical Education (AICTE) and social media behemoth Meta. By enabling students and young developers to use open-source large language models (LLMs) to tackle real-world problems, the program seeks to reduce the nation’s AI skills gap.

    Government Pushing for Enhancing AI Skills of its Younger Generation

    Additionally, the minister announced that all Craftsman Training Scheme (CTS) trainees at Industrial Training Institutes (ITIs) nationwide will now have access to a 7.5-hour micro-credential course for AI. In light of concerns about job disruptions, the government has accelerated efforts to upskill India’s youth in AI technologies.

    To prevent widespread job displacement, the Centre is concentrating on reskilling and upskilling. In her Budget 2025–2026 address last week, Finance Minister Nirmala Sitharaman suggested creating five new CoEs for skill development. Experts predict that this would enable the nation to transition from assembly lines to high-value manufacturing, such as the creation of semiconductors.

    Meta to Invest Hundreds of Billions in AI Amid DeepSeek Frenzy
    As DeepSeek gains traction, Meta announces plans to invest hundreds of billions of dollars in AI, aiming to strengthen its position in the rapidly evolving AI space.
    StartupTalkyNitin Konde

  • Digital Sky Platform has Over 10,000 Registered Commercial Drones

    As of September 2024, 10,208 type-certified commercial drones were registered on the Digital Sky platform, according to information provided to the Parliament by Minister of State for Civil Aviation Murlidhar Mohol. In response to a query, the MoS stated that 96 type certificates had been granted thus far to various unmanned aircraft system (UAS) types by the Directorate General of Civil Aviation (DGCA) based on their “purpose.” Of these, 31 are “logistics and surveillance-based,” while 65 are based on agriculture. The internet platform used by the DGCA to oversee unmanned aircraft systems in India is called DigitalSky.

    Additionally, he stated that around 86% of Indian airspace is “green” and open to drone operations. Three zones—red, yellow, and green—are designated for drone operations in Indian airspace under the current regulations. Drones with an “all-up weight” of up to 500 kg can operate in the green zone without any license. Red zones are designated as “no-drone zones,” while yellow zones require approval from the relevant air traffic control authority.

    The response also mentioned that there are currently 9,969 “airspace red zones” and 147 “airport red zones.” He went on to say that there are 294 “airport yellow zones” overall, which are between 5 and 8 km and 8 and 12 miles.

    DGCA to Chalk Regulatory Framework for VTOL and eVTOL

    The DGCA intends to create a regulatory framework for vertical take-off and landing (VTOL) and eVTOL aircraft, Mohol stated in response to a different query. Similar to a helicopter, an eVTOL is a battery-powered aircraft that can carry two to six people, including a pilot. Informally, they are known as flying taxis or air taxis.

    The minister also stated that new requirements for advanced air mobility (AAM) solutions’ operations, such as airworthiness/type certification, pilot certification and training, and other operational procedures, will be established by the new regulations. Vertiports, air routes, and other infrastructure required for safe and effective AAM operations would be built in accordance with the regulatory framework, Mohol continued.

    Using Unmanned Aircraft Traffic Management (UTM) systems in conjunction with current Air Traffic Management (ATM) systems to optimise air traffic flow in the airspace, de-conflict the movements of multiple small aircraft, and integrate autonomous drones in the same airspace, the operations would be managed both strategically and tactically.

    Government Collaborating With National and International Players

    According to Mohol, discussions with a range of domestic and international stakeholders are presently taking place in order to provide guidance materials on a number of advanced air mobility-related topics. He went on to say that the DGCA is working on the subject in coordination with organisations like the US Federal Aviation Administration (FAA), the International Civil Aviation Organisation (ICAO), and the European Union Aviation Safety Agency (EASA). 

    This occurs at a time when the government is doing everything it can to support the domestic drone industry. To support the industry, the Centre announced the liberalised drone regulations in 2021. The Centre released the UAS certification program in 2022 in an effort to create a worldwide drone certification and accreditation system and implement suitable safety measures for commercial use. The ministry also changed the drone regulations last year, doing away with the need for a passport to register, de-register, and transfer drones.

    Government Cuts RuPay & UPI Transaction Incentives in Budget 2025
    Budget 2025 reduces incentives for RuPay and low-value UPI transactions, impacting digital payments. Find out how this change affects users and merchants.
    StartupTalkyNitin Konde

  • To Launch her New business, Priyanka Gill Leaves Kalaari Capital

    Priyanka Gill, a co-founder of the Good Glamm Group and a previous partner at Kalaari Capital, is launching her own business after leaving the Bengaluru-based venture capital firm. As the market for reasonably priced synthetic diamonds grows, Gill is introducing Coluxe, a lab-grown diamond (LGD) brand. This comes after a number of domestic lab-grown diamond brands recently entered the market. In May, her new venture is all set to launch its online sales, and that is followed by an introduction of a physical store. Solitaire rings, pendants, earrings, tennis bracelets, necklaces, and distinctive items will all be available at Coluxe. Because lab-grown diamonds are more affordable and of higher quality than real diamonds, they have become more and more popular worldwide.

    According to business consultants Technopak, the market for lab-grown diamond jewellery in India was estimated to be worth $264.5 million in 2022. Sales of lab-grown diamond jewellery are anticipated to expand at a 14.8% compound annual growth rate (CAGR) at the end of the following ten years, from $299.9 million in 2023 to $1.1 billion in 2033. However, the market for lab-grown diamonds has seen price adjustments due to an excess of supply. According to Gill, it is uncommon for new consumer behaviours—in this case, the switch from natural to lab-grown diamonds—to be widely adopted. “It is taking place in the fine jewellery industry,” Gill stated.

    However, Gill said that rather than leveraging design and variation as a differentiator, the majority of current firms are marketing LGDs as a less expensive substitute for mined diamonds. The most startling statistic, she continued, is that only 6% of Indian gold jewellery customers really own diamonds. There is a lot of capacity for growth.

    Right Time to Join the Industry

    India is one of the world’s biggest consumers of gold jewellery, with more people buying the yellow metal for investment purposes and auspicious events like weddings. Only a minor portion of these purchases include diamonds. But with investor Fireside Ventures supporting lab-grown diamond company Aukera, the market has witnessed a flurry of activity. After obtaining early-stage investment to launch her business, Gill stated that she is looking to acquire a Series A round.

    Gill’s Entrepreneurial Journey Till Now

    In 2020, Gill established PopXo, a content community that was purchased by Good Glamm, a company supported by Prosus. She later became a co-founder of the group. At the end of 2023, Gill resigned from her position at the Good Glamm Group. She became a partner at Kalaari Capital in February 2024 and is in charge of the company’s CXXO project, which makes investments in women-led companies. Gill was not in charge of any funding rounds while she was employed at Kalaari. On January 15, she resigned from her position at Kalaari. PopXo received financial support from Kalaari Capital prior to its acquisition by the currently distressed Good Glamm, previously known as MyGlamm.

    Priyanka Gill: Mission to Support Women in Business and Beyond | POPxo |
    Discover the inspiring journey of Priyanka Gill, founder of POPxo and co-founder of the Good Glamm Group. Explore her path from launching a digital platform for millennial women to leading roles as CEO at Good Media Co. and in the beauty industry.
    StartupTalkyShevaughn Pimenta

  • On February 6, Solarium Green Energy will Launch its SME IPO for INR 105 Crore

    One of the most well-known companies in the solar solutions sector, Solarium Green Energy, is preparing to go public with its SME IPO on February 6, 2025. Through this offering, the company would raise around INR 105.04 crore, or $12.5 million. For the business, it is a crucial milestone as it continues on its current growth trajectory.

    It will issue 5,500,000 shares having a face value of INR 10 apiece, priced between INR 181 and INR 191 per share. The minimum lot size required to participate is 600 equity shares, which translates to a total investment of INR 141,600. The deadline for the offering is February 10, 2025.

    The Qualified Institutional Buyers (QIBs) will receive roughly 2,605,000 shares, or 46% of all shares. Market makers will receive 286,800 shares, while high-net-worth individuals will be eligible for 782,400 shares. With a 33.17% total share issue for retail investors, the company is anticipated to attract a significant number of investors.

    How the Company is Planning to Utilise Proceeds?

    The primary goals of the IPO’s proceeds are to cover general business needs and working capital requirements. It is anticipated that this calculated action will strengthen Solarium’s operating capacities and help realise its aspirational expansion goals.

    For Solarium Green Energy, the IPO marks a critical turning point as it seeks to take advantage of India’s rising demand for renewable energy solutions. Solarium is well-positioned to draw substantial interest from investors wishing to help the shift to sustainable energy because to its strong business plan, track record, and well-defined strategic goals. The company’s significant achievement is particularly highlighted by the SME IPO, although it follows a broader trend in which green technology investment has increased in India.

    For the fiscal year that concluded in March 2024, Solarium recorded INR 177.80 crore in revenue and INR 15.59 crore in net earnings. In contrast, its revenue in the first half of the current fiscal year (H1FY25) was INR 81.99 crore, and its net profits came to INR 7.55 crore.

    About Solarium Green Energy Limited

    Ankit Garg founded Solarium Green Energy Limited, a company that specialises in turnkey solar systems. Design, engineering, procurement, testing, installation, commissioning, and full operation and maintenance (O&M) are among the services it provides. With 11,195 residential rooftop projects, 172 commercial and industrial (C&I) projects, and 17 government projects completed between April 2021 and September 2024, Solarium has made great strides in the solar business since its founding.

    This outstanding achievement suggests the company’s market leadership and commitment to implementing renewable energy solutions throughout India. Zunroof, SolarSquare, Cleantech, Mysun, Oorjan, and Freyr Energy are competitors of Solarium, which is the first business in the Indian startup ecosystem to go public with an SME IPO in 2025.

    OfBusiness Converts to Public Company Ahead of IPO
    OfBusiness has officially become a public company ahead of its planned IPO, marking a key step in its journey toward listing and expanding its market presence.
    StartupTalkyNitin Konde

  • Draft IPO Documents are Submitted to SEBI by WeWork India Management

    WeWork India Management, an office-sharing business owned by the Embassy Group, has submitted its Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (SEBI), the capital markets regulator, in order to acquire money through an initial public offering (IPO).

    An offer for sale (OFS) of up to 4.37 crore equity shares is part of the company’s first public offering (IPO). The OFS includes up to 1.02 crore equity shares held by 1 Ariel Way Tenant Limited (Investor Selling Shareholder) and up to 3.34 crore equity shares held by Embassy Buildcon LLP (Promoter Selling Shareholder). Proceeds from the sale offer will not be given to the company.

    Share Proportion of WeWork India

    The main stake in WeWork India is held by Embassy Group, which has constructed more than 85 million square feet of commercial real estate and is the sponsor of Embassy REIT, the first REIT in India and the largest office REIT in Asia in terms of leasable area, according to Coldwell Banker Richard Ellis (CBRE), the American commercial real estate services and investment company.

    One of the few flexible workspace providers in India with the support of a significant real estate developer is WeWork India. Embassy Buildcon LLP owns 76.21% of the business, with public stockholders owning the remaining shares, including 23.45% of the UK-based 1 Ariel Way Tenant. The issue’s book running lead managers are JM Financial Ltd, ICICI Securities Ltd, Jefferies India Pvt Ltd, Kotak Mahindra Capital Company Ltd, and 360 ONE WAM Ltd.

    Financial and Operational Dynamics of WeWork India

    WeWork India serves a wide spectrum of clients, including startups, small and mid-sized businesses, individuals, and large corporations, by offering flexible, high-quality workspaces. A notable list of Fortune 500 firms, domestic and foreign corporations, major enterprises, GCCs, MSMEs, and startups are among its members.

    About 93% of our portfolio as of June 30, 2024, consisted of Grade A properties. In terms of earnings, the company reported a loss of INR 146.8 crore in the previous fiscal year, which decreased to INR 135.8 crore in the fiscal year 2024. However, income increased by 26.7% to INR 1,665.1 crore during that same time, compared to INR 1,314.5 crore. On revenue of INR 918.2 crore, profit for the six-month period ending in September 2024 was INR 174.6 crore.

    WeWork Marking Stronger Presence in India

    WeWork Global made headlines in 2023 when it declared bankruptcy in the US due to post-pandemic stress, skyrocketing real estate prices, exorbitant leasing costs, and its incapacity to repay loans. However, the Indian arm then emphasised that it is a stand-alone business, thriving with ambitious expansion plans, and remains largely unaffected by the insolvency.

    WeWork India also announced in January that it had raised INR 500 crore through the issuance of securities through its parent company, WeWork, and the Embassy Group. According to the corporation, the money would be used to pay down current debt, lower capital expenses, and move towards becoming “debt-free.” WeWork India has 94,440 desks spread across 59 operational centres as of September 30, 2024, with a total of 6.48 million square feet of leaseable space for operational centres.

    OfBusiness Converts to Public Company Ahead of IPO
    OfBusiness has officially become a public company ahead of its planned IPO, marking a key step in its journey toward listing and expanding its market presence.
    StartupTalkyNitin Konde

  • Flipkart Renames Groceries as “Kilos,” Promising to Provide Everyday Necessities at Wholesale Pricing

    According to a company advertisement, e-commerce giant Flipkart has changed the name of its grocery division from “Grocery” to “Kilos,” with the goal of offering daily necessities at discounted costs. Kilos is displaying extended delivery timeframes for goods comparable to Amazon’s Fresh, in contrast to Flipkart’s more recent rapid commerce offering Minutes. Kilos has a bright “NEW” tag on the Flipkart mobile app, and tapping it brings up a redesigned UI. On its website, meanwhile, selecting Kilos still takes users to the well-known Grocery interface.

    New Business Strategies to Attract More Customers

    Kilos is being promoted by Walmart-owned Flipkart through its BIG Bachat Day Sale, which includes deals and discounts. Additionally, the business has highlighted supermarket offers at “wholesale prices” in WhatsApp messaging. Similar to Amazon Fresh and other grocery delivery services, this tactic of promoting grocery stocking at the beginning of the month by offering discounts, card deals, and coupons is used. Whether Kilos provides anything more than a Grocery branding is still unknown.

    The e-commerce giant has expressed optimism about its intentions to grow Flipkart Minutes, concentrating on expanding its network of dark stores by introducing more cities and categories to the site. Quick medication delivery has already been introduced in Bengaluru and Delhi, with plans to bring the service to other prestigious cities.

    Current Landscape of India’s Quick Commerce Sector

    A few major participants in India’s rapid commerce market—Zepto, Blinkit from Zomato, and Instamart from Swiggy—are engaged in fierce competition. With almost 11 million downloads across Google Play and the Apple App Store, Zepto was the most popular app. Blinkit has about 6.6 million downloads, compared to 9.8 million for Swiggy’s app, which includes Instamart. Dunzo received less than a million downloads, whereas Tata’s BigBasket e-commerce platform, which included BB Now in its main app, received over 3.5 million.

    According to market share estimates, Blinkit leads with 45%, followed by Instamart with 27%, Zepto with 21%, and BB Now with 7%. When customers switched from small Kirana (neighbourhood) businesses to online platforms during the pandemic in 2021, the rapid commerce model—which at first focused on 10-minute deliveries—became popular in India.

    In order to satisfy the increasing demand, rapid commerce businesses have now made significant investments in dark shopfronts, increased the range of products they offer, and improved their delivery systems. For example, Zepto operates 200–250 dark stores in major cities like Chennai, Hyderabad, Bengaluru, Delhi-NCR, and Mumbai.

    Zepto Launches 10-Minute Instant Return & Exchange Service
    Zepto introduces a 10-minute instant return and exchange service, redefining customer convenience and enhancing the quick commerce experience.
    StartupTalkyNitin Konde