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30-10-2017 to 04-11-2017

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Business News This Week,Startup Stories,Inspirational Stories 2018,Stock Sell in Uber,Food Ordering and Delivery Platform Swiggy,Swiggy Business News 2018,Flipkart Invest In Logistics Arm eKart,Salil Parekh New Infosys CEO,Alibaba and XpressBees Business,Startup Funding News 2018,Startup Stories Tips 2018,Biggest Startup Moments of 2017,How To Get Promoted Faster,How To Get Funding For Startups,How To Build Enterprise From Scratch

The month of October passed by in a string of acquisitions, investments, surprise announcements and major technology updates. The month of November also started out with a bang news regarding major food tech companies, female entrepreneurs in the startup industry and all time high revenues. If you missed the major news of this week, here’s our weekly wrap up.

1. OLA FLEET TO RECEIVE $ 7.7 MILLION FROM ANI TECHNOLOGIES
Ola Fleet Technologies Pvt., Ltd., received $7.7 million in fresh funds from its parent company ANI Technologies Pvt., Ltd. The company already raised Rs. 50 crores and Rs. 100 crores from Ola in July this year. Close to 50 million equity shares were allocated at a subscription price of Rs. 10 apiece. Despite facing multiple loan defaults and other setbacks, the company posted a net sale of Rs. 5.6 crores for the financial year 2015-2016.

2. 75 STARTUPS RECEIVE SUPPORT FROM DIPP’S FUNDS OF FUNDS
75 startups in India received financial support from the Department of Industrial Policy and Promotion (DIPP,) of India under the Funds of Funds Initiative. These 75 startups would receive the investment through 17 Alternative Investment Funds registered with the Securities and Exchange Board of India (SEBI.) Established by the Indian Government in association with the Small Industries Development Bank of India, the Funds Of Funds for Startups (FFS) aims to extend funding support to the startups identified based on criteria listed in line with the Startup India initiative. So far over Rs. 300 crores has been invested in startups by the Fund.

3. NOKIA MOBILE LAUNCHES NEW NOKIA 2
Technology major Nokia finally launched their much awaited flagship smartphone Nokia 2 at the Sector 55-56 Metro station in Gurgaon. One of Nokia’s most affordable phones, Nokia 2, is expected to hit the shelves mid November, this year. With a 4100 mAh battery that will last for 2 days, the Nokia 2 will pack a 5 inch LTPS HD (720×1280 pixels) resolution display. The phone packs a Qualcomm Snapdragon 212 SoC processor but will come with just 1GB of RAM and 8GB of internal storage. Available in three color variants namely Copper Black, Pewter Black, and Pewter White, the handset will hold a 5 MP front camera and an 8 MP primary camera.

4. SWIGGY TO MERGE WITH ZOMATO?
India’s two biggest food tech startups, Zomato and Swiggy, are reportedly in talks for a stock based merger. According to sources, restaurant discovery platform, Zomato, offered a 1:4 share swap ratio to Swiggy, which would reduce the valuation of the online food ordering platform at $225 million. 2016 saw an exponential growth in the food delivery industry. While Swiggy claimed to complete close to 4- 4.5 million orders a month, Zomato dominated the restaurant discovery business with 3- 3.2 million online orders per month. Zomato and Swiggy’s merger will be among the most significant moves made towards consolidating a lucrative sector, after the failed acquisition talks between Flipkart and Snapdeal.

5. ZONE STARTUPS INDIA SELECTS 15 STARTUPS FOR EMPOWER ACCELERATOR PROGRAM
In an attempt to encourage female entrepreneurs, Zone Startups India has selected 15 women for the second edition of its empoWer Accelerator Program. Selected by a panel comprising of 12 mentors and noted industry experts, the startups will compete for a chance to attend a week long business development and personal mentorship programme in Quebec, Canada. The startups represent industries like healthcare, smart cities and enterprise solutions across various technology themes including Internet of Things, artificial intelligence and deep learning, across industries like healthcare, smart cities and enterprise solutions. The shortlisted startups will get to network in the industry, attend valuable mentoring sessions and workshops during a six week community programme.

6. ONE97 COMMUNICATION POSTS $ 126 MILLION IN REVENUE
One97 Communication, the parent company of Paytm, posted a total revenue of $ 126 million and net worth of Rs. 2,376.6 crores for the fiscal year 2016 – 2017. Founded in 2010 by Vijay Shekhar Sharma, Paytm is India’s leading digital payments platform backed by China’s ecommerce giant Alibaba and Japan’s venture capital firm Softbank. The company witnessed a 65% rise in offline payments resulting in transactions worth $ 1.6 billion, post Demonetization last year. The company also claims to have over 218 million customers in India and a few other parts of the world and aims to increase their customer count to 50 crores by the end of 2020.

7. PAYTM LAUNCHES ITS IN HOUSE MESSAGING APP – INBOX
A day after posting their record high revenue, Paytm announced the launch of their brand new in house messaging service, Inox. In an attempt to create a separate path in the fierce world of ecommerce, Inbox lets users send and receive images and text messages. The messaging service will be embedded with digital transaction features as an additional advantage against other messaging apps. Furthermore, Inbox will also have a recall option that lets users delete messages once sent.

That’s all for this week! Subscribe to our portal to never miss updates from the startup world! If your startup has an exciting announcement coming up, you can even write to us at [email protected]. Catch up with the highlights of the week with our The News This Week section.

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Blissclub Raises INR 33 Crore in Fresh Funding Months After Layoffs

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Blissclub, the women-centric D2C apparel brand, has raised INR 33 crore in a Pre-Series B funding round led by Elevation Capital, with Eight Roads Ventures also participating. This funding comes just three months after the company laid off 18% of its workforce-about 21 employees from creative, sales, marketing, growth, and product teams-due to high cash burn and challenges in securing new capital.

The latest investment was made through the allotment of 16,076 compulsory convertible preference shares (CCPS) at a premium of INR 20,428 each. Elevation Capital invested INR 19 crore, securing a 24.5% stake, while Eight Roads Ventures contributed INR 14 crore, raising its stake to 15.79%. The capital will be used for working capital, capital expenditure, and general corporate purposes.

Founded in 2020 by Minu Margeret, Blissclub started as an online activewear brand for women and has since diversified its product range and established offline stores. Despite recent restructuring, the company’s revenue grew 27% to INR 86.9 crore in FY24 from INR 68.3 crore in FY23, though net losses also increased to INR 43.9 crore.

Blissclub’s successful fundraising, despite recent layoffs, underscores both the ongoing challenges and the resilience of India’s D2C startup sector in a difficult funding environment.

 

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Apple to Shift Entire US iPhone Assembly to India by 2026

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Apple is set to relocate all assembly of iPhones destined for the US market from China to India by the end of 2026, marking its biggest manufacturing shift in decades. The move is driven by escalating US-China trade tensions and steep tariffs—up to 145% on Chinese imports—making Chinese assembly increasingly costly for Apple. Although some smartphone imports are temporarily exempt, a 20% duty still applies to Chinese-made iPhones entering the US.

 

India, in contrast, offers a more favorable trade environment, with a paused 26% reciprocal tariff and ongoing negotiations for a bilateral trade deal with the US that could shield Indian exports from future levies. Apple plans to more than double its current iPhone output in India, aiming to assemble over 60 million units annually for the US market. The company already produces about 25% of its global iPhones in India, working with partners like Foxconn, Tata Electronics, and Pegatron.

 

This shift is part of Apple’s broader strategy to diversify its supply chain and reduce reliance on China amid geopolitical risks. However, the transition’s success will depend on how quickly India can scale up its manufacturing capabilities and the outcome of ongoing trade negotiations.


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PhonePe’s PINCODE Launches 10-Minute Medicine Delivery in Cities

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PhonePe’s PINCODE app has launched a 24×7 online medicine delivery service in Bangalore, Mumbai, and Pune, promising delivery of both prescription and over-the-counter medicines within 10 minutes from nearby local medical shops. Unlike conventional e-pharmacies that use dark stores, PINCODE partners exclusively with neighborhood pharmacies, enabling faster deliveries and supporting local businesses in the digital economy.

Customers without prescriptions can select a “no prescription” option when ordering; a qualified doctor then provides a free teleconsultation and issues a digital prescription compliant with telemedicine guidelines, ensuring seamless access to medicines. The app offers competitive pricing by passing discounts from local pharmacies directly to customers and charges no delivery fees.

PINCODE’s hyperlocal model enhances healthcare accessibility and convenience while empowering local pharmacies, helping them remain integral to their communities and stimulating local economic growth. Launched in 2023, the app focuses on quick commerce with an emphasis on speed, reliability, and supporting local sellers.

In summary, PhonePe’s PINCODE app is transforming medicine delivery in major Indian cities by combining ultra-fast 10-minute delivery, free doctor consultations, and a hyperlocal sourcing model that benefits both consumers and neighborhood pharmacies.

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