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BigBasket Gets Government Nod For FDI

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Bengaluru based online grocery startup BigBasket has received the government’s approval for foreign direct investment (FDI) in the food retail sector. The CEO and cofounder of BigBasket, Hari Menon confirmed the development to the Financial Express saying the company had received the government’s approval for their FDI proposal to undertake retailing of food products. The company had applied for approval of their proposed investment of about $ 16.5 million, in September last year.

According to Menon, the company is yet to finalize on the finer details of the business plan but has committed to invest around Rs. 100 crores in the project. Till date, only Amazon, Groffers and BigBasket have received government approval for foreign investment from the Department of Industrial Policy and Promotion (DIPP.)

Currently, BigBasket sells household products such as soaps and shampoos through its ecommerce channel, offering over 20,000 products from over 1000 brands and servicing over 5 million registered customers. They plan to spin off and start an entirely new entity since 100% FDI is only applicable for food products manufactured or produced in India. The startup, which has a presence in 30 cities including Bengaluru, Hyderabad, Mumbai, Pune, Chennai and Delhi-NCR, currently receives over 50,000 orders each day.

BigBasket was founded by V.S. Sudhakar, Hari Menon, V.S. Ramesh, Vipul Parekh and Abhinay Choudhari in 2011. They have raised about $ 305.8 million in investments in six funding rounds and are said to be the biggest online grocery player in the country. In July, it was reported the consumer shopping arm of Paytm Ecommerce Pvt., Ltd., Paytm Mall was also interested in investing $ 200 million in the online retail startup for a substantial stake.

Amazon has committed about $ 500 million investment in the food retail sector while Groffers has confirmed to commit about $ 40 million for its FDI. BigBasket’s investment will help the egrocer in the battle to capture a major share of the food retail sector.

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Jio BlackRock Gets SEBI Approval to Launch Brokerage Operations in India

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Jio BlackRock Broking Private Limited, a joint venture between Jio Financial Services and BlackRock Inc., has received final approval from the Securities and Exchange Board of India (SEBI) to commence operations as a brokerage firm. The regulatory nod, granted via a certificate of registration issued on June 25, 2025, allows the company to function as both a stockbroker and a clearing member in India’s financial markets. This milestone follows a series of regulatory clearances for the Jio BlackRock ecosystem, including approvals for mutual fund and investment advisory businesses, underscoring the joint venture’s ambition to build a comprehensive, digital-first financial services platform.

As a wholly owned subsidiary of Jio BlackRock Investment Advisers, the broking arm aims to deliver affordable, transparent, and technology-driven execution services to Indian investors. The company’s leadership has emphasized that the new platform will empower self-directed investors with seamless execution capabilities, complementing its broader strategy to democratize access to investment solutions in India. The approval is expected to further strengthen Jio BlackRock’s position in the rapidly expanding financial services sector, offering a full suite of products from mutual funds and advisory to brokerage, all accessible through user-friendly digital channels.

The market responded positively to the news, with Jio Financial Services shares rising over 4 percent following the announcement. Industry analysts view this regulatory milestone as a significant step in Jio BlackRock’s efforts to transform India’s investment landscape, moving the country closer to becoming a nation of investors rather than just savers.

 

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CoRover Unveils BharatGPT Mini: India’s First Offline Multilingual AI

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CoRover has launched BharatGPT Mini, India’s first offline multilingual AI model, at VivaTech 2025 in Paris, with the event officiated by Union Minister Jitin Prasada. This innovative Small Language Model (SLM), featuring around 534 million parameters, is specifically designed for edge devices and low-compute environments, enabling robust AI capabilities without the need for cloud connectivity. Its ability to function entirely offline and support 14 Indic languages makes it a powerful tool for digital inclusion, particularly in rural and remote regions where internet access is limited.

BharatGPT Mini’s architecture is optimized for deployment across various sectors, including healthcare, education, banking, and governance, allowing citizens to interact with essential services in their native languages. The model can be integrated into small businesses, government offices, and other organizations through the CoRover Builder platform, which offers a no-code solution for deploying AI assistants across web, telephony, and IoT systems. By processing data locally and encrypting it on-device, BharatGPT Mini ensures strong privacy and data sovereignty, aligning with India’s strategic goal of developing indigenous AI solutions. 

The launch has garnered strong support from both the Indian government and industry leaders, who see BharatGPT Mini as a catalyst for democratizing access to digital services. CoRover anticipates significant growth in the adoption of Small Language Models, with early feedback indicating a substantial increase in project demand. As CoRover looks to expand its expertise globally, BharatGPT Mini stands out as a scalable, multilingual, and privacy-centric solution, setting a new standard for inclusive and sovereign AI innovation in India’s diverse landscape.

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Kerala Startup E-Quark Launches Innovative Mobile Holder with Built-In Charger

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Kerala-based startup E-Quark Molecule Innovations Pvt Ltd, headquartered in Thrissur, has introduced an innovative device called Keratin that combines a mobile phone holder with a built-in charger. This unique gadget is designed to offer users a convenient solution to hold and charge their smartphones simultaneously, addressing the common challenge of managing power supply while using mobile devices.

The device enhances user experience by integrating two essential functions into one compact design. It securely holds the phone while providing efficient charging, making it perfect for use on desks, bedside tables, or other personal spaces where easy access and power are needed. This innovation aligns with the growing trend of multifunctional mobile accessories that prioritize both convenience and practicality.

E-Quark Molecule Innovations is a key player in Kerala’s dynamic startup ecosystem, which has been rapidly expanding in tech-driven areas such as electric vehicle charging infrastructure. With the launch of this mobile holder-charger, the company is establishing itself as a leader in user-centric mobile accessories, further cementing Kerala’s position as a hub for cutting-edge technology development.

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