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  • $200 Million Dunzo Investment Is Written Off by Reliance Retail

    According to many news sources, Reliance Retail, the biggest shareholder in the struggling hyperlocal firm Dunzo, has wiped off its $200 million investment in the business. Following the company’s liquidity crunch and withdrawal from rapid commerce during the last 24 months, Reliance is also not engaged in any discussions to invest in Dunzo or buy it in a distressed sale. Kabeer Biswas, the CEO and cofounder of Dunzo, is currently spearheading negotiations with family offices and wealthy individuals for an acquisition deal that would value the business at INR 300 Cr ($25–$30 million).

    Biswas has received assurances from Reliance that they will help him save Dunzo. However, they have no interest in purchasing Dunzo. Two to three years prior, Biswas had rejected their buyout bid, which sought to acquire the hyperlocal business at a valuation close to unicorn. However, according to a media report, Reliance had no interest in Dunzo at all as speedy commerce companies entered the market and Dunzo’s failure to expand beyond a few locations.

    Reliance Executives and Other Investors Stepping Down

    In 2023, key executives Ashwin Khagiwala and Rajendra Kamath of Reliance Retail, as well as representatives from Lightrock and Lightbox, among other investors, resigned from Dunzo‘s board. The rumoured $30 million price tag for the company’s acquisition would represent a huge decrease from the $770 million Dunzo demanded in its most recent investment round, when Reliance provided the funding. According to reports, Biswas has also discussed a buyout with Flipkart, Swiggy, Tata Group, and Zomato but has not been successful. According to sources, Dunzo has closed in other cities but is still active in some areas of Bengaluru. At the moment, the business continues to operate according to its previous strategy of linking internet customers with nearby merchants.

    According to reports earlier this week, Biswas has informed investors of his intention to leave the company. The CEO plans to leave after completing any possible acquisition agreement. Reliance Retail contributed $200 million to Dunzo’s $240 million fundraising round in January 2022. Reliance Retail made its biggest investment in the Indian startup scene with this venture. The acquisition of edtech firm Embibe for INR 1,340 Cr, Clovia for INR 950 Cr, and NetMeds for INR 620 Cr are some of Reliance Industries’ other noteworthy investments. It was considered a sort of strategic investment at the time. Reliance and Dunzo planned to collaborate, with the former facilitating hyperlocal logistics for JioMart and Reliance’s network of retail locations.

    The Reason for the Downfall

    By 2022, the quick commerce game had altered, even if Dunzo had made it through the busy cycle and hyperlocal boom of 2015. Dunzo’s model was feeling dated, and the quick commerce sector started sprawling its nexus. In an attempt to compete with Blinkit, Instamart, and Zepto, the business started Dunzo Daily, but it was unable to grow outside of Bengaluru, Mumbai, and Delhi. Although it is evident in retrospect that the $240 million investment was insufficient to capitalise on the swift business opportunity, Zepto’s explosive growth brought a third competitor to the market, joining Zomato’s Blinkit and Swiggy-owned Instamart. Just like Zepto, Dunzo was unable to take advantage of this chance. Reliance Retail wants to investigate the rapid commerce possibilities with JioMart in light of Dunzo’s issues. Additionally, Dunzo’s financial condition has deteriorated over the last two years, resulting in significant budget cuts, a long list of unpaid invoices to suppliers, and the departure of founders and important executives. 

    Zepto to Submit IPO Draft Documents by March or April
    Zepto is preparing for its IPO with plans to submit draft documents by March or April 2025, marking a major milestone for the quick-commerce startup.
    StartupTalkyNitin Konde

  • By March or April, Zepto will Submit its IPO Draft Documents

    According to a media outlet, Zepto, a quick commerce platform, is expected to submit its initial public offering (IPO) draft papers in March or April of this year. The delivery company has already obtained the necessary authorisations to relocate its headquarters from Singapore to India.

    The business stated that the IPO’s specifics are still being finalised and that it has scheduled a board meeting for January 19 to talk about the size of the IPO, the selection of independent directors, which bankers to hire, and other specifics.

    Notably, the National Company Law Tribunal (NCLT) is set to hear the case on January 17 even though Singaporean officials have approved the move. After food delivery services Zomato (Blinkit) and Swiggy (Instamart), parent firms of listed competitors, Zepto will become the first rapid commerce start-up to go public if all goes as planned by April.

    Zepto Marketplace Reshaping the B2B Model

    In order to shift its business-to-business (B2B) activities to a marketplace model, Zepto has created a new company called Zepto Marketplace. After the operational and regulatory details are resolved, Zepto Marketplace, which was registered in October 2024, will soon transition to the new format, according to sources. According to media reports, the change would give Zepto more control over service and quality assurance. Zepto plans to further improve operations by launching “Thor,” a SaaS inventory management platform, soon. Marketplace models are already used by Zepto’s competitors, such as Blinkit and Swiggy Instamart.

    Current Business Model of Zepto

    Geddit Convenience, Drogheria Sellers, and Commodum Groceries are the three businesses to which Zepto licenses its brand name and business operations under the current arrangement. These three businesses use the Zepto platform to sell to final customers after buying their merchandise from Kiranakart Technologies Pvt Ltd.

    Kiranakart Technologies is essentially a business-to-business (B2B) company that sources and purchases goods directly from brands and resells them to Zepto’s three licensee businesses. These businesses subsequently sell to final customers. The three businesses pay Zepto a licensing fee for each sale they make through the latter’s platform.

    According to sources, Zepto has already added additional sellers and plans to continue growing its seller and distribution base with the assistance of the new organisation. It also plans to lessen its focus on the three businesses (Geddit Convenience, Drogheria Sellers, and Commodum Groceries). Other than Geddit Convenience, Drogheria Sellers, and Commodum Groceries, more sellers are probably going to start selling on the Zepto platform in the upcoming months.

    In FY24, Zepto’s operating revenue increased by 120% to INR 4,454 crore. Additionally, the business plans to release a distinct app for Zepto Cafe, which offers speedy food delivery services for snacks and other things.

    Zepto Streamlines Structure with New Marketplace Entity Ahead of IPO
    Zepto simplifies its structure by introducing a new marketplace entity, streamlining operations ahead of its IPO. Learn about this strategic move.
    StartupTalkyNitin Konde

  • The Visionary Behind Data Compliance: Meet Dharmitha Ajerla

    In a world where technological advancement is now advancing at a very high rate, data compliance is now a very sensitive issue to organizations across the globe. This is especially important in recent years as there are more data breaches and the laws become more strict on how data can be managed. Data compliance has shifted from being a mere tick-boxing exercise; it has now become a measure of organizational governance and sustainability. It can be said that adherence to the rules and regulations related to data protection of international character, proper storage of data and their handling, non-disclosure, and privacy of details are gradually becoming crucial for the organizations that want to remain competitive and safeguard their clients.

    Dharmitha Ajerla has emerged as a leading force in shaping the future of data compliance. With a wealth of experience as a software engineer and data compliance expert, she brings a unique blend of technical proficiency and regulatory insight. Her deep understanding of the intersection between data innovation and compliance has enabled her to lead pivotal initiatives in the tech industry, helping companies navigate complex data sovereignty issues and adhere to privacy laws.

    Her career trajectory has been marked by significant achievements in ensuring robust data compliance frameworks. She has a proven track record of developing systems that allow organizations to safely migrate data across borders, ensuring full compliance with local regulations and maintaining stringent privacy standards. Her unique approach to data compliance emphasizes the importance of an adaptive, ongoing process rather than a one-time solution. She firmly believes that collaboration between legal, technical, and business teams is essential for achieving sustainable and scalable data compliance. This holistic approach has become a hallmark of her work, ensuring organizations remain ahead of changing data privacy regulations while optimizing their data management processes.

    Another area of development where She has made significant contributions is telemetry compliance and brought together a team to ensure massive data from products and services respect global data protection laws. She was able to mitigate the risk of data violation while sustaining product performance data by incorporating compliance checks into real-time data telemetry systems. Ajerla’s contribution in this regard made it possible for businesses to carry on using important data while observing privacy and compliance at the same time; thereby contributing a substantial blow in both technical and legal arenas.

    Ajerla’s insights into the future of data compliance are just as forward-thinking. She anticipates that compliance will increasingly become a competitive differentiator, with companies that prioritize data protection winning customer trust and loyalty. Furthermore, Ajerla sees artificial intelligence and machine learning as key drivers of future compliance efforts. By automating routine compliance tasks and continuously monitoring data practices, these technologies will enhance accuracy and efficiency, ultimately making compliance processes more streamlined and less prone to human error. In her view, AI-driven compliance solutions will be the standard, helping organizations keep up with the dynamic regulatory environment.

    She remains focused on the growing challenges posed by cross-border data flows and the ever-changing landscape of global data protection laws. She envisions compliance frameworks that are not only adaptive to these legal shifts but also scalable across different regions. Additionally, Ajerla believes that blockchain technology holds significant potential for data compliance by providing transparent, immutable records of data transactions, something that will be particularly transformative for industries like healthcare and finance, where data integrity is paramount.

    In conclusion, Dharmitha Ajerla’s work in data compliance stands as a testament to her innovative approach to navigating the complexities of global data regulations. Her ability to balance technical expertise with a deep understanding of privacy laws has established her as a leader in the field. Through her contributions, Ajerla is shaping the future of data compliance, ensuring that businesses can continue to innovate while upholding the highest standards of data privacy and security. As the digital landscape continues to evolve, her vision will play a pivotal role in guiding companies toward a more secure and compliant future.

  • DPIIT Collaborates With SPF To Promote Collaborations In The Indian Startup Sector

    In an effort to further promote the third-largest startup ecosystem globally, the recently established Startup Policy Forum (SPF) has partnered with the Department for Promotion of Industry and Internal Trade (DPIIT).  Through this partnership, the two organisations hope to increase manufacturing capacity in India, promote innovation, accelerate technology adoption, and strengthen linkages with global stakeholders and ecosystem enablers.  SPF and DPIIT announced in a joint statement that they will be creating specialist immersion programs aimed at introducing international investors to India’s thriving startup scene. Additionally, as part of the cooperation, the two organisations will work together to facilitate a startup debate called SPF Startup Baithak. As part of National Startup Week, the event is scheduled for January 15–16, 2025, at Delhi’s Bharat Mandapam.

    SPF Startup Baithak

    “The SPF Baithak will be a platform for new collaborations, global investor engagement, and to showcase the innovations within the Indian startup ecosystem,” said Sanjiv, joint secretary of DPIIT, in a LinkedIn post. This strategic partnership with SPF demonstrates DPIIT’s unwavering dedication to fostering an environment that is conducive to startups’ growth and allows them to significantly contribute to India’s goal of being a worldwide centre for innovation. In his remarks about the alliance, Sanjiv stated that the SPF members embody the spirit of entrepreneurship in India and that their involvement in this mission will be essential to reaching the objective of building India by 2047.

    In order to close the gap between founders, legislators, and regulators, former Peak XV chief public policy and communications officer Shweta Rajpal Kohli founded SPF in December 2024. It seeks to assist the government’s efforts to put Indian startups on the international scene. Among its members are prominent startups such as Razorpay, CRED, Groww, Zerodha, Pine Labs, OYO, Acko, Swiggy, Dream11, Mobile Premier League (MPL), Livspace, Cars24, Cardekho, and Mobikwik.

    Central Government Backing the Startup Culture

    DPIIT and SPF’s common goal of creating a robust and prosperous startup ecosystem is demonstrated by this partnership. According to Kohli, the partnership with DPIIT aims to help entrepreneurs to realise their full potential and place India prominently on the global innovation map by creating effective collaborations. The collaboration coincides with the central government’s continuous initiative to support the domestic new-age technology sector. The DPIIT has collaborated with businesses such as HCLSoftware, Flipkart, bOAt, and Tally in recent months. The second annual Startup Mahakumbh event is now scheduled to take place at Bharat Mandapam from April 4–6, 2025.

    Zepto Streamlines Structure with New Marketplace Entity Ahead of IPO
    Zepto simplifies its structure by introducing a new marketplace entity, streamlining operations ahead of its IPO. Learn about this strategic move.
    StartupTalkyNitin Konde

  • With New Marketplace Entity, Zepto Simplifies its Structure Before Going Public

    According to various media reports, Zepto, the unicorn of rapid commerce, has established Zepto Marketplace Private Limited as a new company to streamline its business practices before going public later this year. Currently, the business uses a business-to-business (B2B) form of operation. Under a licensing arrangement for consumer-facing sales, its Indian subsidiary, Kiranakart Technologies Pvt Ltd, which was established by Aadit Palicha and Kaivalya Vohra, purchases products from brands and sells them only to a specific group of businesses that run the Zepto platform.

    Its competitors, like Swiggy Instamart and Blinkit, which is owned by Zomato, have long used a marketplace model that allows several suppliers to post goods directly for customers. Zepto now seems to be doing the same. In an apparent indication of a potential departure from its business-to-business approach, it registered Zepto Marketplace Private Limited on October 22, 2024. As it completes preparations for an India IPO later this year, this change may bring Zepto’s operations closer to those of its publicly traded competitors, Blinkit and Swiggy Instamart.

    The Move will Help Investors to Evaluate Zepto’s Operations

    Investors, particularly those in the public market, will be better able to compare Zepto‘s operating data to those of its competitors once a consistent business model is established. Another media article, however, made it clear that the new corporation was simply registered in order to transfer the company’s tech-related intellectual property (IP) and online platform. According to this report, the decision to place the company’s technology division on a separate balance sheet will aid in separating the various business divisions.

    Current Business Model of Zepto

    Geddit Convenience, Drogheria Sellers, and Commodum Groceries are the three businesses to which Zepto licenses its brand name and business operations under the current arrangement. These three businesses use the Zepto platform to sell to final customers after buying their merchandise from Kiranakart Technologies Pvt Ltd.

    Kiranakart Technologies is essentially a business-to-business (B2B) company that sources and purchases goods directly from brands and resells them to Zepto’s three licensee businesses. These businesses subsequently sell to final customers. The three businesses pay Zepto a licensing fee for each sale they make through the latter’s platform.

    According to sources, Zepto has already added additional sellers and plans to continue growing its seller and distribution base with the assistance of the new organisation. It also plans to lessen its focus on the three businesses (Geddit Convenience, Drogheria Sellers, and Commodum Groceries). Other than Geddit Convenience, Drogheria Sellers, and Commodum Groceries, more sellers are probably going to start selling on the Zepto platform in the upcoming months.

    Competitors Adopting Different Approach

    Blinkit is a platform where businesses like Hands On Trade, 90Minutes Retail, and others buy products from brands and resell them to B2B wholesalers, who resell them to other businesses (B2C sellers). Zomato, the holding company of Blinkit, appears to have structured its operations to guarantee adherence to foreign direct investment (FDI) regulations while avoiding the purview of related party reporting and consolidation.

    International e-commerce firms are able to function autonomously as marketplace enterprises in India. However, international retail corporations are not allowed to operate independently in offline retail due to restrictions governing foreign direct investment (FDI). Only 51% of foreign direct investment (FDI) in multi-brand retail is permitted, and only through local partnerships. Even then, permission from the government is needed.

    Under the government clearance method, however, 100% FDI is permitted in food retail to function and operate both online and offline for food that is made and manufactured in India. With businesses like Scootsy, Lynk Logistics, and others that function as B2B wholesalers, Swiggy Instamart has also created a company structure that is similar. These businesses then sell their goods to other businesses that run dark stores, which in turn sell to the B2C vendors on the Swiggy network.

    In short, there is an extra layer of sellers and distributors on both Blinkit and Swiggy Instamart. Although Zepto lacks this additional layer, it is possible that the structure will alter if Zepto Marketplace Pvt Ltd is established.

    OfBusiness Launches Nexizo: AI-Powered Discovery Platform for SMEs
    OfBusiness launches Nexizo, an AI-powered discovery platform aimed at streamlining operations and boosting growth for SMEs. Explore how Nexizo empowers businesses.
    StartupTalkyNitin Konde

  • OfBusiness Introduces Nexizo, an AI-Powered Discovery Platform Designed for SMEs

    For small and medium-sized businesses (SMEs) in the industrial and infrastructure industries, the Gurugram-based B2B marketplace OfBusiness has introduced Nexizo, a new AI-powered discovery tool. Through the use of cutting-edge AI technology, the platform seeks to expedite procurement procedures, simplify the process of finding qualified buyers, and offer market insights for competitive intelligence and raw material price discovery.

    BidAssist was a comparable platform that OfBusiness had previously introduced. The team did, however, clarify that Nexizo targets larger private-sector companies and offers more sophisticated features tailored to their intricate requirements, in contrast to BidAssist, which concentrates on government tenders.

    While Nexizo may be for larger, more established organisations as the complexity and sophistication of the solution increase multifold, BidAssist will always be geared towards government contractors (natural market mechanisms slant its user structure towards tiny & mid-sized companies). Furthermore, in a social media post, Pyuish Upadhyay, CBO, Digital at OfBusiness, stated that Nexizo will eventually target the private sector.

    Platform Focuses on Building Cohesive Vertical Commerce Ecosystem

    The platform, according to the company, is a step in the direction of creating a unified vertical commerce ecosystem that combines software, finance, and materials. From an insights platform to a full-fledged digital shop, OfBusiness has developed to enable end-to-end transactions for high-value marketplaces. According to the CBO, the brand is already targeting INR 2,000 crore this fiscal year (in just 24 months).

    The announcement coincides with OfBusiness’s preparations for a possible $1 billion initial public offering (IPO) in the second half of 2025. The company generated revenue of INR 19,296 crore in FY24, up from INR 15,343 crore in FY23, and its profit increased by 30% to INR 603 crore in FY24.

    More About OfBusiness’ IPO

    Asish Mohapatra and Ruchi Kalra founded OfBusiness in 2015, and to date, the company has raised over $800 million from investors. SoftBank, Tiger Global, Z47 (previously Matrix Partners), Creation Investments, Alpha Wave Global, and Norwest Venture are among the investors in the business. Through its IPO, which will include a new $200 million issue, it hopes to raise up to $1 billion. It wants to be valued between $6 billion and $9 billion. Five investment bankers—Axis Capital, Morgan Stanley, JPMorgan, Citigroup, and Bank of America—were named the book runners for OfBusiness’s initial public offering (IPO) bid in November. Cofounder Jain stated at the time that OfBusiness will prioritise increasing its profitability prior to pursuing an IPO.

    NestAway Co-founder Accuses Key Investors of Fraud
    NestAway’s co-founder accuses Goldman Sachs, Tiger Global, and Chiratae of fraud, sparking legal action and raising questions about investor accountability.
    StartupTalkyNitin Konde

  • Co-founder of NestAway Charges Goldman Sachs, Tiger Global, and Chiratae With Fraud

    Amarendra Sahu, the co-founder and former CEO of the home renting platform NestAway, has taken an uncommon step for a startup founder by filing a criminal lawsuit against his fellow co-founders Jitendra Jagadev and Smruti Parida, as well as lead investors Tiger Global, Goldman Sachs, and Chiratae Ventures. In his native state of Odisha, Sahu has submitted a First Information Report (FIR) to the Bhubaneswar Police’s Economic Offences Wing (EOW). Tiger Global, Goldman Sachs, Chiratae Ventures, and the other co-founders of the company are accused of fraud, deception, document forgery, and criminal intimidation in the complaint.

     Since December 10, 2024, the Orissa High Court has been considering petitions pertaining to the issue. The case will be reviewed once more on January 9. According to Sahu’s allegation, NestAway’s June 28, 2023, INR 90-crore sale to proptech startup Aurum was fraudulently completed using his signature as a company director. He made it clear that he had left his position as director on June 19, 2023, more than a week before the agreement was finalised.

    NestAway’s Valuation Decline After the Acquisition

    NestAway’s valuation dropped by 95% following its acquisition by Aurum. Since its founding in 2015, the Bengaluru-based business has raised a total of $116 million in investment. NestAway raised $220 million (INR 1,810 crore) in its most recent investment round in 2019 from well-known investors like Yuri Milner, Flipkart, Goldman Sachs, Tiger Global, and UC-RNT Fund.

    Sahu claimed in the FIR that the company experienced significant losses as a result of the disruptions to its operations caused by the pandemic in 2020–2022. Additionally, Sahu worked remotely from his home office in Odisha because of the epidemic and his elderly parents. Investors Goldman Sachs and Tiger Global resigned from the board when the company was in serious financial trouble in order to protect their own money and reputation. Jitendra Jagadev, Smruti Parida, and Deepak Dhar, the other three partners, also departed the business.

    However, Sahu persisted in running the business without receiving any compensation, and the FIR claimed that because of his genuine efforts and commitment, the business survived and was restored to a sustainable state.

    How the Acquisition Deal was Cracked Without Informing Sahu?

    Sahu claimed that without consulting him or the more than 250 shareholders, the investors obtained a direct offer to sell their shares to Aurum at a very cheap price through cooperation with one of the directors, Jitendra Jagadev. Sahu stated that the investors convinced him to sell his shares and help sell others’ shares because they were worried that the deal might not go through.

    According to Sahu’s complaint, the principal investors—Tiger Global, Goldman Sachs, and Chiratae Ventures—convinced him to pay an extra INR 11.72 crore over the value of his 5% investment through phone calls, WhatsApp messages, and emails. However, when the deal was completed, they allegedly denied this commitment.

    Chiratae Ventures, acting on behalf of all investors, persuaded Sahu to sell the business to a third party they had arranged through a number of in-person and virtual meetings out of concern that Sahu and other shareholders’ rejection would delay their plan to sell their shares. In the FIR, Sahu stated, “They promised to give me an additional INR 11.72 crore from their portion of the sale proceeds in appreciation of my prior work and the efforts necessary for the sale.”

    Sahu unwittingly consented, believing their words and their reputation, and carried out all of the work of pitching the business through WhatsApp chats, phone calls, and emails while continuing to work from Bhubaneswar. As a stockholder, he sent over all signed papers, including the sale agreement. On June 28, 2023, Sahu stated in the FIR that the investors, Tiger Global, Goldman Sachs, Chiratae Ventures, and Schroders Adveq, forcibly closed the sale transaction in favour of Aurum at a consideration of INR 90 crore after denying Sahu their promise of INR 11.72 crore after obtaining the signed documents and consent forms.

    According to the investigation, Sahu owes Tiger Global INR 4.8 crore, Chiratae Ventures and its affiliates INR 2.18 crore, Goldman Sachs INR 2.04 crore, UC-RNT Fund INR 1.81 crore, and Schroders Adveq INR 0.89 crore.

    UPI Transactions Hit Record 16.73 Billion in December
    UPI transactions hit an all-time high of 16.73 billion in December, showcasing its growing popularity as India’s leading digital payment platform.
    StartupTalkyNitin Konde

  • Blinkit is Now Offering a 10-Minute Ambulance Service

    A 10-minute ambulance service has now been introduced by Blinkit, Zomato’s rapid commerce division. In a post on X, Albinder Dhindsa, cofounder and CEO of Blinkit, stated that the firm is making the initial move to address the issue of delivering prompt and dependable ambulance service in several locations. He stated that the ambulance service, which would begin with five vehicles in Gurugram on January 2, will soon be extended to other locations. Users will “start seeing an option to book a Basic Life Support (BLS) ambulance” on the app, according to Dhindsa. AEDs (automated external defibrillators), oxygen cylinders, stretchers, monitors, suction machines, and necessary emergency medications and injections are among the life-saving devices he said the ambulances are outfitted with.

    Operating at Affordable Cost

    In addition, every ambulance has a qualified driver, a paramedic, and an assistant. According to the CEO, the brand will provide this service at a price that is reasonable for consumers and make long-term investments to truly address this pressing issue. Dhindsa added that the business is carefully developing the service in order to roll it out in the key cities in the upcoming two years. Over the past year, Blinkit has been progressively adding new features and extending its services to further cities. But according to Dhindsa, the new launch is more about finding a long-term solution to this “critical problem” than it is about making money.

    Blinkit Continues to Rollout New Initiatives

    In addition to launching its services in Jammu earlier this week, Blinkit also introduced a function that lets consumers remove their order history. Over the past several years, the rapid commerce market has seen a dramatic increase in popularity throughout the nation. In light of this, Blinkit generated INR 1,156 Cr in revenue during the second quarter (Q2) of the fiscal year 2024–25 (FY25), which is more than twice as much as the INR 505 Cr it generated during the same period last year. Additionally, it was able to reduce its adjusted EBITDA loss from INR 125 Cr in Q2 FY24 to INR 8 Cr in the reporting quarter.

    A lot of experts are worried about the rapid commerce model since they think the ten-minute delivery won’t be profitable. However, Blinkit’s most recent figures seem to have disproved this theory. Many people have already hurried to predict that Blinkit will soon be the group waggon puller. Zomato’s other diversifications may surprise as well, in addition to the near-duopoly that Swiggy and Zomato have been experiencing in the Indian market lately.

    The fast commerce market in India is estimated to be worth $3.34 billion and is expected to expand at a compound annual growth rate (CAGR) of more than 4.5% to reach $9.95 billion by 2029. Despite this growth, statistics indicate that the industry only accounts for 7% of its projected $45 billion total addressable market, indicating significant room for expansion.

    Blinkit Expands Its Services to Jammu
    Blinkit expands its services to Jammu, bringing quick commerce and online delivery to the region, enhancing accessibility and convenience for local customers.
    StartupTalkyNitin Konde

  • TechStack Management: Shaping Tomorrow’s Workplaces with AI-Driven Impact

    Palo [Alto], January 4:  Businesses are increasingly realizing the potential of AI and automation for their growth. One such revolutionary Tech platform making work easier and life better for both businesses and employees is TechStack. It recently achieved a major milestone by being accepted into the prestigious UC Berkeley Skydeck Accelerator program. Through SkyDeck’s mentorship and extensive network, TechStack is accelerating its vision—the vision of transforming workplaces with AI-powered digital workers.

    TechStack was founded by Rishabh Bansal in March 2024. Within just four months of commercial launch, this revolutionary AI Company has scaled to over $100,000 in annual recurring revenue. This rapid growth further firmed the company’s innovative approach. Also, it showcased the demand for its solutions in the market. The company’s impact is visible. On October 1, 2024, Skydeck’s Demo Day; they presented to a distinguished audience of investors. This move further solidified their bold vision for the future of work.

    Rishabh Bansal’s digital mindset enabled him to start TechStack. Having previously worked as an Investment Banker in San Francisco, he was well-versed in the inefficiencies of business operations. Working closely with software companies on capital raising and mergers, he identified a major problem—the problem of time-consuming, repetitive tasks. With a background in engineering and an MBA from the University of Virginia’s Darden School of Business, he set out to create a solution.

    That solution became TechStack, a company dedicated to deploying digital workers. These are the AI-driven systems designed to handle monotonous, routine tasks. With the platform in place, businesses operate more efficiently, allowing employees to focus on strategic and high-impact activities.

    As the founder shares, “Our digital workers free up human potential. So there’s more room for problem-solving and collaboration.”

    The company has growth-oriented clients across various industries benefiting from its innovative solutions. These clients have experienced significant improvements, including reduced IT operational costs, improved communication, and enhanced efficiency. As a result, they have seen a noticeable increase in overall business productivity.

    Today, the company is a driving force in transforming the workplace with its cutting-edge AI solutions. With a growing client base across diverse industries, TechStack continues to help businesses streamline operations, reduce costs, and enhance productivity. Backed by UC Berkeley’s robust startup ecosystem and led by an experienced team with deep expertise in AI and business operations, this AI Company is poised to be the next big thing in workplace transformation.

    Top AI Project Management Tools to Streamline Tasks
    Discover the best AI-powered project management tools that enhance efficiency, streamline workflows, and improve team collaboration effortlessly.
    StartupTalkyRishi Mundra

  • So Far, 7 Lakh Sellers have Joined ONDC: Piyush Goyal

    According to Piyush Goyal, the minister of commerce, over 7 lakh vendors and service providers have joined the open network for digital commerce (ONDC) thus far. According to Goyal’s post on X, these vendors come from over 600 cities and villages spread all around the nation. He went on to say that over 15 crore transactions had been handled by the state-backed network so far. Additionally, ONDC has 200 network members. The Modi government established ONDC in 2021 with the goal of democratising e-commerce in India. In addition to hitting many milestones over the last three years, Goyal stated in a post on X that it has empowered businesses—particularly small businesses—by giving them an even playing field on the network. The minister of commerce also mentioned that in the three years after ONDC began operating, customers from 1,100 towns and cities have made purchases on the network.

    PM Applauding ONDC

    After Goyal’s tweet, Prime Minister Narendra Modi praised ONDC for “revolutionising” e-commerce. According to the PM, ONDC has played a crucial role in advancing growth and prosperity by empowering small enterprises and transforming e-commerce.  This comes a few weeks after ONDC CEO Thampy Koshy claimed that since December 2023, the network’s transaction volume has increased by almost three times. By December 2025, he predicted, the state-backed network’s transaction volume would have increased 7X-8X. According to earlier reports, the festive season sales were a major factor in ONDC’s 1.4 Cr transactions in October 2024. The mobility segment accounted for 55 lakh of these transactions, while the non-mobility segments accounted for the remaining 84 lakh.

    Founded in 2021, ONDC is an open protocol-based network that facilitates local business in a variety of sectors, such as grocery and transportation. Under the auspices of the Department of Promotion of Industry and Internal Trade (DPIIT), ONDC is essentially the government’s idea to create a rival to the e-commerce behemoths and provide MSMEs and small merchants with greater visibility.

    Challenges Faced by ONDC

    With businesses and unicorns like Zerodha, PolicyBazaar, and Physics Wallah drawn to the platform’s democratising strategy, it has expanded its offerings into industries including food delivery, e-commerce, and taxi hailing. Even with this remarkable growth, ONDC still faces challenges, especially in terms of performance and awareness.

    Brands like True Elements, which reported a sharp drop in revenue through the platform in 2024 when compared other marketplaces with better performance, presented one such difficulty. Even while ONDC provides an affordable means of reaching a big consumer base, a major barrier to achieving its full potential is still its low consumer visibility.

    UPI Transactions Hit Record 16.73 Billion in December
    UPI transactions hit an all-time high of 16.73 billion in December, showcasing its growing popularity as India’s leading digital payment platform.
    StartupTalkyNitin Konde