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Alibaba Seeks Government Approval To Invest In BigBasket

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Alibaba.com, the China based ecommerce website, has sought for approval from the Competition Commission of India (CCI,) to buy stake in the online grocery startup, BigBasket. Alibaba.com Singapore ECommerce Pvt., Ltd., is a subsidiary of Alibaba Group Holding Ltd.

VCCircle reported, Alibaba.com will infuse the funds in Supermarket Grocery Supplies Pvt., Ltd., which owns BigBasket. However, the eretail firm is run by Innovative Retail Concepts Pvt., Ltd. Recently, multiple media reports suggested, Alibaba and digital wallet startup, Paytm, might invest close to $200 million in BigBasket. However, sources clarified Paytm may not invest in BigBasket as earlier speculated. Nevertheless, Alibaba’s investment in the company will give Paytm an indirect toehold in India’s online grocery industry.

The Indian Internet food retail industry is on track to hit $1 billion in 2017 and may even be valued at $ 1.2 trillion by 2020, according to a report by the research firm RedSeer. The online grocery market currently accounts for 48% of India’s total retail consumption. Last week, homegrown ecommerce giant Flipkart, also launched its grocery delivery service, Supermart, in Bengaluru to capture a share of the lucrative market. Backed by SoftBank, Flipkart has the added advantage of a $ 4 billion investment and strong tech capabilities.

Along with Flipkart, BigBasket faces strong competition from Groffers and Amazon. This investment by Alibaba will also affect Amazon’s growing presence in the Indian ecommerce market. While Amazon’s talks for a potential investment in BigBasket fizzled out, the global ecommerce giant received the government’s approval for a $ 500 million foreign direct investment. In August this year, it was also reported Amazon might investment in Grofers, but, they were termed as “rumor and speculation” by a spokesperson.

Founded by V.S. Sudhakar, Hari Menon, V.S. Ramesh, Vipul Parekh and Abhinay Choudhari, BigBasket raised about $ 305.8 million in investments in six funding rounds since 2011. The eretail firm also claims to have over 5 million registered customers and has a presence in over 30 cities in India. At present, BigBasket offers over 20,000 products from 1000 brands and claims to receive over 50,000 orders each day. For the financial year 2017, the company reported a revenue of Rs. 1,400 crores.

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Pune’s SuperGaming Secures $15M to Expand in Emerging Markets

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Super Gaming

SuperGaming, the Pune-based gaming innovator known for hit titles like MaskGun and Indus Battle Royale, has raised $15 million in a Series B funding round, boosting its valuation to an impressive $100 million. This marks a nearly fivefold increase from its 2021 valuation of $21 million, highlighting the company’s rapid growth and the rising investor confidence in India’s booming gaming industry. The funding reflects SuperGaming’s strong market presence and strategic vision to become a global leader in online gaming. 

The funding round was spearheaded by Skycatcher and Steadview Capital, with significant participation from notable international investors including a16z Speedrun, Bandai Namco O21 Fund, Neowiz, and prominent Web3 financiers such as Polygon Ventures and Sandeep Nailwal. Existing backers like AET Japan and BACE Capital also continued their support. SuperGaming aims to utilize this capital infusion to expand its footprint internationally, focusing on emerging markets. A key initiative includes launching its award-winning game, Indus Battle Royale, in Latin America through a partnership with LOUD.GG, alongside rolling out its proprietary SuperPlatform developed with Google Cloud to empower game developers worldwide, especially in resource-constrained regions. 

CEO and Co-Founder Roby John emphasized that this funding milestone is crucial in shifting India from merely a gaming consumer base to a hub for gaming innovation. By adopting a “hyper-local” strategy that tailors games to diverse cultures in underrepresented markets like the Middle East and Latin America, SuperGaming is poised for global growth. With over 200 million installs and an expanding user base, SuperGaming’s recent fundraising solidifies its position at the forefront of India’s gaming revolution, ready to make a major impact on the international stage.

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Swiggy DeskEats: Office Food Delivery Launched in 30 Cities

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Swiggy

Swiggy, India’s leading online food delivery platform, has introduced DeskEats, a unique meal delivery service specifically designed for office-goers and working professionals across 30 major cities. DeskEats aims to streamline office dining by offering a diverse, office-friendly menu, making it easier than ever for corporate employees to enjoy convenient and delicious meals right at their workplace. By simply typing “Office” or “Work” in the Swiggy app, users can unlock curated collections like Value Combos, Stress Munchies, Healthy Nibbles, and Teamwork Bites, catering to every office dining scenario—from solo meals to team lunches and quick snack breaks.

Swiggy’s DeskEats is now operational in over 7,000 tech parks and business centers, granting office workers access to nearly 700,000 menu items from over 200,000 restaurants. This vast variety ensures there’s something for everyone, addressing the growing demand for quick, tasty, and nutritious food that fits seamlessly into the busy schedules of working professionals. Early trends from DeskEats’ pilot phase show a strong preference for easy-to-eat options like chicken popcorn in Bengaluru and garlic breadsticks in Gurugram, reflecting the popularity of meals tailored for the modern workday.

Expanding upon its Corporate Rewards Program, which is already trusted by thousands of organizations, Swiggy enables companies to enhance employee wellness programs by offering food delivery, groceries, and dining benefits efficiently. With DeskEats, Swiggy reaffirms its commitment to transforming workplace dining by prioritizing variety, convenience, and user satisfaction—cementing its position as a key player in the evolution of India’s office food culture.

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Setu Builds Fintech Powerhouse Leadership Team as Pine Labs IPO Nears

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Pine Labs

Setu, the API infrastructure platform and subsidiary of Pine Labs, has significantly strengthened its leadership by appointing Prashanth Nimmagada (ex-Razorpay) as Chief Technology Officer, signaling its commitment to innovation in India’s dynamic fintech landscape. Alongside Nimmagada, Setu has welcomed other top industry talent: Vijeth Pandit (ex-Razorpay) as Chief Product Officer, Ramkumar Thirumurthi (ex-Razorpay, co-founder Actyv.ai) as Chief Revenue Officer, Nikhil Ratanpal (ex-PhonePe) as Director of Product Development, and Santosh Subramanian (ex-Yes Bank, Wibmo) as Head of Finance. These high-profile hires accompany Anand Raisinghani’s (ex-SAP India) appointment as CEO, underscoring Setu’s focus on building a strong, experienced leadership bench to drive future growth.

Setu specializes in providing API-based digital financial infrastructure for services such as UPI, bill payments, KYC, and digital signatures, while also operating as an RBI-licensed NBFC Account Aggregator. With this expanded leadership team—drawn from India’s leading fintechs—Setu is well-positioned to accelerate the development of scalable, API-driven financial solutions for banks, fintechs, and enterprises. The influx of expertise from Razorpay and PhonePe veterans will bolster Setu’s technical capabilities and strategic partnerships, ensuring it remains a key enabler in India’s rapidly maturing digital public infrastructure ecosystem.

This leadership overhaul comes as parent company Pine Labs prepares for a major IPO, aiming to raise ₹2,600 crore through a fresh share issue after turning profitable in FY25. Setu’s enhanced leadership reinforces the broader group’s ambitions for international expansion, technological innovation, and financial performance. As Setu solidifies its role at the forefront of India’s fintech evolution, the company is poised to deliver advanced financial infrastructure solutions that support the country’s growing digital economy and drive Pine Labs’ strategic momentum.

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