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News on Medial
Owners of ₹250 crore meat brand once rejected ₹60 crore sale offer
Inshorts
·
1y ago
Medial
Dr Gaurav and Dr Reena Sharma, food scientists, founded Shandi Global after their son wanted a burger but they were dissatisfied by the plant-based options. They crafted their own after leaving their high-paying jobs in Singapore. They launched the company in 2022 and rejected a ₹60 crore sale offer to build their startup. Now, Shandi is worth ₹250 crore.
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Meat delivery startup ZappFresh acquires Dr Meat for $3 million
Economic Times
·
2y ago
Medial
Meat delivery startup Zappfresh has acquired Dr. Meat, a meat retail brand, for a reported sum of $3 million. The acquisition will allow Zappfresh to strengthen its presence in the meat retail segment and expand its product offerings. The deal showcases Zappfresh's commitment to growth and market consolidation in the online meat delivery industry in India.
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Viral video: Sam Altman blasts Elon Musk says, ‘his whole life is from a position of insecurity’ | Mint
Livemint
·
5m ago
Medial
Sam Altman and Elon Musk, once allies in creating OpenAI, are now fierce rivals. Musk recently attempted a $97.4 billion takeover of OpenAI's non-profit arm, which was rejected. Altman criticized Musk, describing him as "insecure" and "unhappy" during a Bloomberg interview. He asserted that OpenAI, with its mission, isn't for sale and suggested Musk's actions were attempts to hinder them competitively. Altman once expressed interest in acquiring Twitter for $9.74 billion following Musk's $44 billion purchase.
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Tamil Nadu's Milky Mist files DRHP with SEBI to raise Rs 2,035 crore through IPO
IndianStartupNews
·
17d ago
Medial
Milky Mist Dairy Food, a fast-growing Indian packaged food company, has filed a draft red herring prospectus with SEBI to raise Rs 2,035 crore via an IPO. The IPO includes a fresh issue of Rs 1,785 crore and a Rs 250 crore offer for sale by promoter shareholders. Funds will be used for debt reduction, capacity expansion, and distribution enhancement. Milky Mist focuses on value-added dairy products, achieving significant growth and high sector margins.
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Netsmart's owners explore a sale valuing it at $5 bln -sources
Reuters
·
1y ago
Medial
Private equity owners of healthcare software firm Netsmart Technologies are considering a sale of the company that could value it at over $5 billion, according to sources. Netsmart, owned by GI Partners and TA Associates, is working with investment banks Goldman Sachs and William Blair on the potential sale. The company expects to generate around $250 million in earnings this year. Potential buyers could include other private equity firms. Netsmart provides electronic health records services and software for telehealth services.
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Skincare brand The Derma Co crossed Rs 350 crore annual revenue rate in June quarter
Economic Times
·
1y ago
Medial
Honasa Consumer Ltd, the parent company of D2C brand Mamaearth, announced that its skincare brand The Derma Co achieved an annual revenue rate of over INR 350 crore during the June quarter. The brand recorded INR 30 crore in monthly revenue in April-June, 41 months after its launch in 2020. Honasa Consumer recently filed for an IPO comprising a fresh issue of equity shares and an offer for sale component. The company operates several brands, including Aqualogica, Ayuga, and BBlunt, in addition to Mamaearth and The Derma Co.
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Zappfresh DRHP: Revenue Surges 60% To INR 90 Cr In FY24, Profit Jumps 70%
Inc42
·
11m ago
Medial
Zappfresh, a D2C meat delivery startup, saw its net profit increase by 70% to INR 4.7 Cr in FY24 compared to INR 2.7 Cr in the previous fiscal year. Delhi contributed the most to the company's revenue, accounting for 35.7%, followed by Haryana with a 27.96% share. Zappfresh's IPO consists of a fresh issue of 59.06 Lakh equity shares without any offer for sale component.
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Licious acquires My Chicken and More
Entrackr
·
9m ago
Medial
D2C meat and seafood brand Licious has acquired Bengaluru-based offline retailer My Chicken and More for an undisclosed amount. The acquisition marks Licious’ strategy to build an omnichannel presence complimenting its digital commerce that reaches 4 million households currently. With My Chicken and More’s 23 stores, Licious will expand its physical retail footprint to 26 points of sale. My Chicken and More is known for its in-store experience. Between 2021 and 2023, the brand claims to have expanded from 10 to 23 outlets, generating revenues of Rs. 110 crore in 2023. My Chicken and More claims to processes 1.6 to 1.8 million orders annually, with some stores with an average monthly footfall of 10,000 to 12,000 customers. Founded in 2015 by Abhay Hanjura and Vivek Gupta, Licious sells meat, seafood and ready-to-cook items across 25 cities. The sale of these products formed the majority source of revenue for Licious in FY23. The company turned unicorn following a $52 million round led by IIFL AMC’s Late Stage Tech Fund in October 2021. During the same year, it also scooped up $192 million in Series F round. In total, it has raised $490 million to date. Despite back-to-back funding during FY23, Licious’s operating income remained flat with mere 9.6% growth to Rs 747.7 crore from Rs 682.5 crore in FY22. It also saw a modest increase of 3.1% in its losses to Rs 500 crore in FY23 from Rs 485 crore in the previous fiscal year. Its flagship loyalty program Infiniti has amassed 2 lakh weekly active subscribers, contributing to 58% of the monthly business.
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Indkal eyes three times revenue growth this fiscal to Rs 1,150 crore with wearables foray
Economic Times
·
1y ago
Medial
Indkal, an electronics hardware design firm, aims to achieve over three-fold revenue growth this fiscal, reaching Rs 1,150 crore. The company plans to enter the smart wearables segment with its brand Wobble, expecting a revenue of Rs 250-300 crore. Indkal designs consumer electronic goods for companies like Acer and Black & Decker and gets them manufactured from electronic manufacturing services companies. It aims to address the reliability aspect of wearables products in India and offer high-quality and reasonably priced options.
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D2C meat brand Zappfresh acquires Bonsaro
YourStory
·
11m ago
Medial
D2C meat brand Zappfresh has acquired Bonsaro, an online delivery platform for poultry, goat, and seafood in India. The acquisition will enable Zappfresh to expand its presence in the western region of the country, including Mumbai and Pune. Zappfresh plans to use its internal funds for the acquisition and aims to achieve a revenue of INR 160 crore by FY24-25. The company intends to invest in Bonsaro's operations, enhance customer experience, and diversify its product offerings. Zappfresh is currently the only profitable D2C meat delivery platform in the market.
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Kerala-based Popular Vehicles and Services launches IPO to raise 602 crore
IndianStartupNews
·
1y ago
Medial
Kerala-based automobile dealer Popular Vehicles and Services has launched its Initial Public Offering (IPO) to raise approximately Rs 602 crore. The IPO, open until March 14, includes a fresh issue of Rs 250 crore and an offer-for-sale of 1.19 crore equity shares. The company has already raised Rs 180.17 crore from institutional investors, including HDFC Mutual Fund and HSBC Global Investment Funds. Popular Vehicles and Services reported a 41% increase in revenue and a 91% surge in net profit for FY23. It offers a wide range of automotive services and has an extensive network across India.
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