Swiggy is working towards becoming an Indian Owned and Controlled Company (IOCC) as the food delivery and quick commerce major restructures its board and governance framework amid evolving foreign investment regulations. In a stock exchange filing, the company clarified that the proposed changes to its board nomination structure are part of a broader effort to qualify as an IOCC under FEMA regulations. The clarification came after institutional investors sought details regarding Swiggy’s recent postal ballot proposal and the rationale behind amendments to its Articles of Association. According to the company, the governance changes are intended to support its long-term objective…
Author: Adarsh Kumar
Inflection Point Ventures (IPV) has reported 16 exits during FY26, delivering an aggregate internal rate of return (IRR) of 41% along with a 2.86x money multiple across the transactions. According to the company, the exits included both partial and full exits from startups such as Secret Alchemist, Aerem, Qubehealth, Kazam, Stage, Hudle, AFK Gaming, and GeoiQ. Among the exits, Secret Alchemist delivered the highest return with a 192% IRR and a 4.56x multiple, according to the firm. Other notable exits included: The company also highlighted strategic acquisitions during the year. AFK Gaming was acquired by NODWIN Gaming, while GeoiQ was…
Three former senior executives of Peak XV Partners Ashish Agrawal, Ishaan Mittal, and Tejeshwi Sharma have reportedly launched a new venture capital firm called Mettle Capital. According to an ET report, the newly formed firm is targeting a fund size of around $350 million to $400 million to back Indian startups. The move follows the trio’s departure from Peak XV last month after serving in senior investment roles at the firm for more than a decade, including during its earlier identity as Sequoia Capital India. In a post on X, Sharma confirmed that the three former partners are joining hands…
Zoho Corporation has invested ₹70 crore in Open Network for Digital Commerce (ONDC) to support sovereign digital infrastructure development in India and improve technology access for MSMEs. The Chennai-based SaaS company said the investment aims to make digital commerce more inclusive and interoperable for small businesses across the country. “India’s economy depends heavily on MSMEs, yet they face challenges on all fronts, from limited market access to structural constraints imposed by conventional digital platforms,” said Sivaramakrishnan Iswaran, CEO of Zoho Payment Technologies and Global Head of Finance and Operations BU at Zoho. Backed by the Department for Promotion of Industry…
The Union Cabinet has approved a ₹37,500 crore incentive scheme to accelerate domestic coal gasification projects, a move aimed at strengthening India’s energy security and reducing dependence on imported fuels and chemicals. The scheme is designed to support India’s target of gasifying 100 million tonnes of coal by 2030 while promoting cleaner utilisation of the country’s vast coal reserves. According to the government, the initiative is expected to reduce imports of products such as LNG, ammonia, methanol, and urea by encouraging domestic production through coal gasification technologies. As part of the policy push, the government has also extended coal linkage…
Early investors in Groww sold around 4.7% stake in the company through bulk deals on Tuesday, with the total transaction value exceeding ₹5,352 crore. According to data from the National Stock Exchange of India (NSE), nearly 29.52 crore shares changed hands at an average price of ₹180.4 per share. The transaction involved several institutional investors, including Peak XV Partners, Ribbit Capital, YC Holdings, and other early backers. Among them, Ribbit Capital emerged as one of the key sellers in the transaction. However, Peak XV continues to remain one of the largest shareholders in Groww even after partially trimming its stake.…
Uber is setting up its first data centre in India in partnership with Adani Group, marking a significant expansion of the ride hailing company’s technology and infrastructure presence in the country. The development was announced by Uber CEO Dara Khosrowshahi after meeting Gautam Adani in Ahmedabad on Wednesday. “India is fast emerging as a leading innovation hub for Uber,” Khosrowshahi said in a post on X, adding that the upcoming facility would help the company “test and deploy” technology at scale from India for global operations. The move comes as Uber intensifies its focus on India, one of its largest…
Nivasa Finance has raised $3 million (around ₹25 crore) in a seed funding round led by Prime Venture Partners, with participation from Blume Ventures, Whiteboard Capital, and a group of angel investors. The startup said the fresh capital will be used to expand geographically, strengthen its distribution network, deepen lender partnerships, and explore the possibility of obtaining an NBFC licence. Founded in 2025 by Samit Shetty and Hitesh Saraf, Nivasa Finance is building a distribution and fulfilment platform focused on affordable housing loans and loans against property (LAP) in non-metro and underserved markets. The Bengaluru based company primarily caters to…
The EleFant has raised $1 million in a pre-Series funding round led by Growth Sense Venture Fund, with participation from JIIF, Arian Capital, Asit Oberoi, Vimal Saboo, and other angel investors. The startup said the fresh capital will be used to strengthen its technology infrastructure and expand operations across key markets in India. Founded by Sourabh Jain and Srishti Jain, The EleFant operates a toy subscription and circular play platform catering to children between the ages of 0 and 12 years. The platform allows families to subscribe to toys and books from more than 90 brands through monthly plans starting…
Instafix, a doorstep smartphone repair startup, has raised ₹7.55 crore in a pre-seed funding round co-led by Titan Capital and 8i Ventures. The round also saw participation from investors Anish Srivastava and Bharat Kalia. The startup said the fresh capital will be used to scale operations in Gurugram, expand repair services beyond iPhones to premium Android devices, and strengthen the technology infrastructure powering its on-site repair model. Founded in 2025 by Aniket Kale and Chetan Chauhan, Instafix offers a 30-minute doorstep smartphone repair service supported by certified technicians and warranty backed repairs. The company’s model allows customers to book smartphone…