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Invest4Edu raises $3 Mn in seed round from family offices

EntrackrEntrackr · 1y ago
Invest4Edu raises $3 Mn in seed round from family offices
Medial

Invest4Edu, a platform which offers education planning, saving and investment services, has raised $3 million in its seed funding from family offices. The proceeds will be used to ramp up growth and deepen the firm’s impact in the early education planning and financial support domains. Founded by Peeyush Agrawal, Invest4Edu aims to address common anxieties around the rising cost of education, college planning, and long-term payment. Based in Mumbai, Invest4Eduhas claims to have created more than 50,000 user education journeys on the platform within the last year. It has built a network of over 100 business partners across financial services, skill building programs, expert collaborations, and institutional offerings. Through its financial literacy program for youth, the company has trained more than 8,000 young minds on financial literacy, and enabled them to generate work opportunities. The company’s revenue goals include building a $250 million mutual fund AUM and a monthly SIP book of $6 million.

Zero commission model in mobility can increase driver incomes by 30%: ONDC

YourStoryYourStory · 10m ago
Zero commission model in mobility can increase driver incomes by 30%: ONDC
Medial

The Government-backed Open Network for Digital Commerce (ONDC) has released a whitepaper discussing the benefits of its zero commission model for the mobility sector. The report highlights the challenges faced by ride-hailing drivers who pay a percentage of their earnings as commissions to platforms. In contrast, the ONDC's zero commission model, which charges a flat platform fee or a monthly subscription fee starting from as low as Rs 10 per day, allows drivers to retain 100% of their earnings. This could lead to a 30% increase in driver incomes, amounting to Rs 1.36 lakh annually, benefiting approximately 15 lakh drivers across India. The ONDC aims to promote digital inclusion and growth through its open network approach, which prioritizes interoperability and unbundling of services. This model has the potential to generate significant economic impact and tax revenue for the government. The whitepaper also argues for a differentiated approach to applying GST to support the growth of open network zero-commission ride-hailing services.

Zomato becomes first Indian startup to enter Sensex 30

EntrackrEntrackr · 10m ago
Zomato becomes first Indian startup to enter Sensex 30
Medial

Foodtech giant Zomato has made history as the first Indian startup to join the Bombay Stock Exchange (BSE) Sensex 30, replacing JSW Steel Limited in the benchmark index of India’s top 30 companies. Zomato's inclusion in the SENSEX follows its strong performance over the past year. The stock has gained 38% in the past six months, 124.79% year-to-date, and 114.29% over the last year. On Monday, following its inclusion in the Sensex 30, Zomato's stock declined by 3.15% (as of 12:28 PM) to Rs 278.70 on the Bombay Stock Exchange, with a total market capitalization of Rs 2.68 lakh crore (approximately $31.9 billion) During the second quarter of the ongoing fiscal year, Zomato achieved a remarkable 68.5% quarter-on-quarter growth in operating revenue, reaching Rs 4,799 crore from Rs 2,848 crore in Q2 FY24. The Gurugram-based company also recorded a 4.8X increase in net profit to Rs 176 crore in the quarter ending September. Its arch-rival Swiggy posted Rs 3,601 crore of revenue and a net loss of Rs 625 crore during the second quarter of the current fiscal year. The recently listed firm is currently traded at Rs 592.8 per share and has a total market capitalization of Rs 1,32,695 crore (around $15.8 billion). Zomato also secured $1 billion from qualified institutional investors (QIIs) last month. The money keeps the firm with enough powder for future investments, even as the stock will benefit from index investing now, even though the BSE Sensex remains a smaller representation of India’s investment opportunities than say, the 50 share NSE Nifty. For Zomato, the index inclusion is a massive vindication of its seemingly high risk approach, where it has simply refused to rest on laurels, always pushing the boundaries to seek a competitive edge. Be it the acquisition of Blinkit, edgy communication strategies, or the investments into other startups, the firm has done enough to justify the lofty valuations, and expectations from investors thus far. The recent fundraise has also underscored its readiness to invest and invest big where it sees a need to do so. The sensex inclusion has seemed like a logical move for the pioneering tech firm, and the big question on everyone’s minds will surely be- what next?

Ola Electric clarifies on FIR against CEO and officials over employee’s death

EntrackrEntrackr · 8d ago
Ola Electric clarifies on FIR against CEO and officials over employee’s death
Medial

Ola Electric clarifies on FIR against CEO and officials over employee’s death According to media reports, the Bengaluru police registered a case on October 6, 2025, against Aggarwal, Das, and Ola Electric following a complaint filed by Aravind’s brother. Ola Electric Mobility Limited has responded to media reports and police proceedings connecting its chief executive Bhavish Aggarwal and another senior official Subrat Kumar Dash to the death of an employee, K Aravind, who died by suicide in Bengaluru last month. According to media reports, the Bengaluru police registered a case on October 6, 2025, against Aggarwal, Das, and Ola Electric following a complaint filed by Aravind’s brother. The complaint alleged workplace harassment and financial irregularities after a 28-page handwritten note was recovered from Aravind’s residence, in which he reportedly mentioned instances of stress and non-payment of dues. The 38-year-old engineer, who worked in Ola Electric’s homologation department since 2022, allegedly consumed poison on September 28 and later succumbed at Maharaja Agrasena Hospital. Police initially treated the incident as an unnatural death but later converted it into a case under the provisions of the Bharatiya Nyaya Sanhita related to abetment of suicide. The family also highlighted a transfer of Rs 17.46 lakh to Aravind’s account two days after his death, terming it suspicious. In its regulatory filing on October 21, Ola Electric expressed condolences to the family and said Aravind had not raised any complaints about his employment or working conditions during his tenure. The company said it had immediately processed his final settlement to support the family and maintained that Aravind’s role did not involve direct engagement with the top management. Ola Electric also stated that the FIR has been legally challenged before the Karnataka High Court, which has granted protective relief to its officials, and that it continues to cooperate fully with the ongoing investigation. Ola Electric emphasized that no chargesheet has been filed so far and that the case does not qualify as a material event requiring disclosure under SEBI’s Listing Obligations and Disclosure Requirements Regulations, 2015. The company said it would provide further updates to the exchanges if required by law.

Exclusive: Flipkart to take on Zepto, Blinkit with quick commerce foray

EntrackrEntrackr · 1y ago
Exclusive: Flipkart to take on Zepto, Blinkit with quick commerce foray
Medial

The quick commerce sector is all set to heat up once again as India’s e-commerce giant is now eyeing the segment. Flipkart has started ramping up infrastructure for its quick commerce play, three sources aware of the details of the plan told Entrackr. “Flipkart will launch 10-15 minutes delivery in at least a dozen cities in the next six to eight weeks,” said one of the sources requesting anonymity. “It’s building up a chain of dark stores across several cities including Bengaluru, Delhi (NCR) and Hyderabad among others.” Flipkart’s foray into quick commerce comes at a time when experts anticipate that quick commerce would end up eating into the e-commerce pie sooner than later in India. The total addressable market for quick commerce in India is nearly worth $45 billion, according to a 2022 Redseer report. More importantly, quick commerce has proven to be surprisingly resilient in the last couple of years, with both Zepto and Zomato’s Blinkit doing more than enough to convince investors that the concept has a future in India. While Zepto was rewarded with a unicorn round, Blinkit’s (formerly Grofers) turnaround and Swiggy Instamart’s growth have been bright spots in terms of scaling up with improving margins for their owners. “If you look at Flipkart’s recent launches, it hints at the firm’s foray into quick commerce. It launched same-day delivery in 20 cities a couple of weeks ago… the company began delivering flowers and cakes around the Valentine season (February 2024),” an analyst covering the e-commerce and quick commerce segments, requesting anonymity, told Entrackr. Sources indicate that Flipkart will have a wider catalog than incumbents such as Zepto and Blinkit. “The company will have a sharp focus on FMCG, grocery and daily essentials but it would also push categories such as electronics, fashion,” added the person quoted above. It’s worth mentioning that the current quick commerce players have also been steadily expanding and diversifying their offerings. Responding to queries sent by Entrackr, a Flipkart spokesperson said they are working towards delivering a wide range of products with speed. “Over the past few months, we have made several investments to enhance our delivery capabilities, including adding same-day delivery in 20 cities. This covers mobiles, essential items, electronics, home appliances, fashion, books and lifestyle products,” said the spokesperson. “We are committed to meeting evolving customer expectations and delivering excellence in value, selection and speed, with more initiatives expected on this front in the coming months.” Over the past three years, quick commerce gained quick ground in top 15 Indian cities and top three players in the segment—Blinkit, Swiggy Instamart and Zepto—managed to gain sizable scale. Sources outlined that BlinkIt does around 6 lakh orders a day while Swiggy InstaMart and Zepto’s daily volume hover around 5 lakh and 3 lakh, respectively. According to Entrackr sources and data available in the public domain, Blinkit has an average revenue run rate of Rs 12,000 crore in the ongoing fiscal year whereas Swiggy Instamart ARR (read as GMV) stands at around Rs 8,000-8,500 crore. Zepto’s gross merchandise value has neared Rs 7,000 crore. Fresh from its last funding round, Zepto has been noticeably feistier — with a larger catalog and stronger marketing push. Meanwhile, Reliance and Google-backed Dunzo lost its mojo. The firm failed to raise a new round in the past two years and reported only Rs 226 crore in revenue in FY23 with losses of Rs 1,801 crore. As per reports, Flipkart engaged in discussion regarding a potential acquisition of the Kabeer Biswas-led firm. While all that might sound good, the fact that no one disagrees is that the market is not big enough for so many players, making this a matter of staying in power for most. Or perhaps, even newer operating models that might ensure sustainable growth. The broad direction so far, of an ever widening catalog and higher value transactions like electronics items etc, indicates the bleeding will not stop anytime soon.

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