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Zomato hikes platform fee for users to Rs 5; pauses intercity deliveries

Economic TimesEconomic Times · 1y ago
Zomato hikes platform fee for users to Rs 5; pauses intercity deliveries
Medial

Food delivery platform Zomato has increased its platform fee for customers by 25% to Rs 5 per order, effective April 20. The fee increase, applicable in key markets including Delhi, Bengaluru, Mumbai, and Hyderabad, is expected to boost the company's earnings. Zomato's rival, Swiggy, already charges Rs 5 as a platform fee on food delivery orders. Zomato's platform fee is in addition to the delivery charge, but it is waived for Zomato Gold loyalty programme members. The fee was initially introduced in August 2023 at Rs 2 per order and was increased to Rs 4 earlier this year. The intercity delivery service, Legends, has been temporarily suspended by Zomato due to low consumer traction and legal issues.

Jar clocks Rs 208 Cr operating revenue in FY25, turns profitable in H2

EntrackrEntrackr · 3m ago
Jar clocks Rs 208 Cr operating revenue in FY25, turns profitable in H2
Medial

Jar clocks Rs 208 Cr operating revenue in FY25, turns profitable in H2 Savings app Jar has reported strong growth in FY25, reaching an operating revenue of Rs 208 crore during the fiscal year ending March 2025. The surge in scale came after the company vertically integrated its gold stack, which pushed its gross revenue to Rs 2,450 crore during the period. Vertical integration implies owning and operating several stages of the gold value chain. The Bengaluru-based startup also reduced its net losses (excluding ESOP costs) to Rs 35.23 crore and turned fully profitable in the last two consecutive quarters from January to June 2025. Founded in 2021 by Nishchay AG and Misbah Ashraf, Jar has built a base of over 35 million registered users across 12,000 pin codes, with more than 95% of its users being first-time savers. Jar leverages UPI Autopay to automate savings and has expanded into jewellery through its vertical Nek and forayed into insurance offerings. The startup has raised over $60 million with a valuation of approximately $325 million, backed by investors like Tiger Global, Arkam Ventures, Tribe Capital, and WEH Ventures.

Bharat Matrimony invests $500K in Ask My Guru

EntrackrEntrackr · 2m ago
Bharat Matrimony invests $500K in Ask My Guru
Medial

Bharat Matrimony, part of Matrimony.com Group, has invested $500,000 in Bengaluru-based AI startup Ask My Guru (AMG). This follows AMG’s earlier $1.2 million seed funding, bringing total funding to $1.72 million. The investment will support AMG’s AI astrology development and integration with Bharat Matrimony’s platform. Founded by Krishna Mohan Vedula and Vivek Sadamate, Ask My Guru provides AI-driven Vedic astrology solutions for matchmaking, using algorithms based on Vedic and KP systems. Users can get compatibility assessments, astrological guidance, and insights on relationships, career, and life decisions. The platform claims to have registered over 400,000 users and facilitated 5 million chats since its beta launch in June 2025. Ask My Guru plans to expand globally, starting with the US, while Bharat Matrimony provides access to its large user base of over 4 crore customers across web, mobile, and over 130 retail outlets. The partnership positions AI astrology as an integrated feature in online matchmaking, linking cultural traditions with technology for scalable matchmaking solutions.

Jar in talks to raise $100 Mn led by Westbridge

EntrackrEntrackr · 2d ago
Jar in talks to raise $100 Mn led by Westbridge
Medial

Bengaluru-based fintech startup Jar is in advanced discussions to raise over $100 million in a new funding round led by Westbridge, according to three sources aware of the details of the transaction. “The discussions are at an advanced stage and the company has received a term sheet which will value Jar in the range of $500-550 million,” said one of the sources requesting anonymity. “Kotak Investment Banking has been appointed as the banker for the transaction.” The proposed fundraise comes on the back of a strong financial performance by the company. In FY25, Jar reported Rs 208 crore in operating revenue. The company also turned profitable in the second half of FY25 and posted profits in two consecutive quarters, as reported by Entrackr. “The discussions have been ongoing for the past several months. If nothing goes wrong at the last moment, the deal will come through in the next 4 to 6 weeks,” said another source, who also requested anonymity. Queries sent to Jar and Westbridge on Monday remained unanswered, while Kotak did not respond to queries sent on Thursday until the story was published. Founded in 2021 by Nishchay AG and Misbah Ashraf, Jar operates a micro savings platform that allows users to invest spare change automatically into digital gold through UPI. It claims to have over 35 million registered users across more than 12,000 pin codes, with a large share of first-time savers. Over the past year, Jar has expanded beyond digital gold into jewellery through its Nek brand and has also entered insurance distribution. Jar has raised multiple funding rounds since inception. In August 2022, it raised $22.6 million in a Series B round led by Tiger Global at a valuation of over $300 million. Other notable investors include Arkam Ventures, Tribe Capital and WEH Ventures.

MoEngage raises $100 Mn from Goldman Sachs and A91 Partners

EntrackrEntrackr · 1m ago
MoEngage raises $100 Mn from Goldman Sachs and A91 Partners
Medial

MoEngage raises $100 Mn from Goldman Sachs and A91 Partners Customer engagement platform MoEngage has raised $100 million in its Series F round from existing investor Goldman Sachs Alternatives and new investor A91 Partners. The new round has come after more than three years for the Bengaluru and San Francisco headquartered company. The round comprises 60% primary and the remaining as secondary. With this round, MoEngage’s total funding has crossed $250 million. The company will use the proceeds to enhance its Merlin AI suite, a set of AI agents that help consumer brands automate campaign creation, offer decisioning, and improve conversion rates. It also plans to expand its go to market and customer success teams in North America and EMEA. “Over 300 enterprises worldwide have turned to MoEngage for its ease of use and AI led agility,” said Raviteja Dodda, chief executive officer and co-founder of MoEngage. “These enterprise migrations have accelerated our growth in the North America and EMEA regions,” he added. Goldman Sachs, which first backed MoEngage in 2022, has doubled its investment in this round. According to Entrackr’s sources, the firm was valued at around $700 million (post money) earlier. A MoEngage spokesperson did not comment on its current valuation. Founded in 2014 by Dodda and Yashwanth Kumar, MoEngage offers insights led customer engagement tools that help brands target users across web, mobile, email, and messaging channels. The platform counts SoundCloud, McAfee, Flipkart, Kayak, Domino’s, and Deutsche Telekom among its clients. The company serves over 1,350 consumer brands across 75 countries, powering digital experiences for more than 2 billion users each month.

JCB Salons India raises Rs 40 Cr from Blacksoil for strategic expansion

EntrackrEntrackr · 1y ago
JCB Salons India raises Rs 40 Cr from Blacksoil for strategic expansion
Medial

Salon chain JCB (Jean Claude Biguine) Salons India has raised Rs 40 crore ($4.8 million) from alternative credit platform Blacksoil. JCB Salons has utilised the funds to acquire Spalon, a homegrown salon chain, for expansion into South India, the company said in a press release. The capital will also be used for working capital and creating operational efficiencies for the group. Launched in 2006 in India, JCB Salons operates around 18 salons in Mumbai, Pune, and Bengaluru. The company claims to serve 1,500 customers per month. Globally, it runs operations in 20 countries with 400 salons and spas. Spalon is a spa and salon brand with over 27 branches across Southern India. Combining JCB’s expertise and Spalon’s understanding of the domestic market, the joint entity eyes a foothold in West and South India markets. In February last year, JCB Salon’s long time chief executive Samir Srivastav quit the company to join Looks Salon as CEO. JCB Salons raised Rs 157 crore (nearly $19 million) to date and counts RARE Enterprises, the investment arm of late Rakesh Jhunjhunwala as a key investor. JCB Salon India saw its operating revenue increase to Rs 50.66 crore in FY23 from Rs 34.63 crore in FY22. During the period, the firm turned profitable with Rs 1 crore profit from Rs 57 lakh loss in the previous fiscal year. As per the company, it achieved 5-6% year-on-year growth in FY24. However, the company is yet to file audited annual financial statements for the last financial year. As per industry reports, the Indian beauty market is projected to reach approximately $580 billion by 2027, with an estimated growth of 6% annually. Of late, a clutch of legacy and established businesses have raised strategic money from institutional investors. In May, 17-year-old performance wear brand TechnoSport raised $21 million from A91 Partners in its first external fundraise. In the same month, fast fashion omnichannel ethnic wear brand Libas also raised $18 million by ICICI Venture’s fund IAF Series 5 in its maiden external funding.

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