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Flipkart’s Jeyandran Venugopal Likely to Join Reliance Retail as CEO

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Jeyandran Venugopal, the outgoing Chief Product and Technology Officer of Flipkart, is set to become the CEO of Reliance Retail Ventures (RRV), the retail arm of Reliance Industries. His appointment, expected to be finalized in May after his exit from Flipkart, signals Reliance’s push to strengthen its retail business with a technology-first approach.

Venugopal brings extensive experience from leading roles at Flipkart, Myntra, Yahoo, Snapdeal, and Amazon, where he focused on scaling technology platforms and driving innovation. At Flipkart, he managed product, engineering, data science, and more, helping build robust systems and improve user experience.

His move comes as Reliance Retail undergoes transformation, including cost-cutting and a renewed focus on digital growth. Venugopal’s leadership is expected to accelerate Reliance’s ambitions in omnichannel and tech-driven retail, positioning the company for continued dominance in India’s evolving market.

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Zepto Delays IPO to Focus on Profitability and Indian Ownership

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Zepto - StartupStories

Overview

Zepto, a leading quick commerce startup, has postponed its planned IPO to early 2026, shifting its focus to achieving profitability and increasing Indian shareholding before going public.

Key Reasons for Delay

  • Profitability Focus: Zepto aims to reach EBITDA break-even before listing, unlike many tech firms that went public while still loss-making.
  • Market Uncertainty: Ongoing global and domestic market volatility influenced the decision to wait for more stable conditions.
  • Peer Comparison: The company wants to present a stronger profit profile, learning from the performance of rivals like Swiggy and Zomato (now Eternal).

Boosting Domestic Shareholding

  • Target: Zepto plans to raise Indian ownership to at least 51% to comply with FDI norms and reinforce its Indian identity.
  • Actions: The company is conducting secondary share sales to Indian investors and founders are increasing their stakes by buying from foreign investors.
  • Progress: Domestic ownership has reached about 40-44%, with expectations to surpass 51% before the IPO.

Financial and Operational Updates

  • Efficiency Drive: Zepto is optimizing operations, running over 900 dark stores and offering 48,000 SKUs, to reduce cash burn and move toward profitability.
  • Challenges: The company faces stiff competition from Swiggy Instamart and Blinkit, leading to higher costs, and has dealt with operational pauses and regulatory scrutiny in some regions.

Outlook

Zepto remains positive about its future, aiming to raise around $800 million in its IPO and attract both domestic and international investors. CEO Aadit Palicha emphasizes building a sustainable, majority Indian-owned business before entering the public market.

Summary: Zepto’s IPO delay reflects a strategic focus on financial stability and regulatory compliance, with profitability and Indian ownership at the forefront.

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Polygon Enters New Era: Leadership Shift and Major Upgrades Under Sandeep Nailwal

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Polygon StartupStories

Sandeep Nailwal, co-founder of Polygon, has been appointed as the first CEO of the Polygon Foundation, marking a shift from decentralized governance to focused leadership. This change aims to provide clear direction and accelerate Polygon’s growth in the competitive blockchain space.

Under Nailwal’s leadership, Polygon will discontinue its zkEVM network in 2026 to concentrate on the Polygon PoS chain and AggLayer, a new cross-chain liquidity protocol. Significant upgrades to the Polygon PoS chain are planned, starting with the Bhilai upgrade in July 2025, to enhance transaction capacity and support large-scale financial applications.

Polygon enters this new phase with a strong financial position, enabling long-term development without fundraising pressures. While Nailwal leads the Foundation, Marc Boiron continues as CEO of Polygon Labs. This leadership restructuring aims to drive innovation and reinforce Polygon’s position in Ethereum scaling and the Web3 ecosystem.

 

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Wow! Momo Raises ₹85 Crore from Stride Ventures to Accelerate Nationwide Expansion

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WoW Momo StartupStories

Wow! Momo, the Kolkata-based quick-service restaurant (QSR) chain, has secured ₹85 crore (approximately $9.9 million) in debt funding from Stride Ventures, aiming to accelerate its omnichannel expansion and strengthen its presence across India. The company, which operates over 700 outlets in more than 70 cities, plans to utilize the funds to open additional dine-in restaurants, expand its packaged food (FMCG) vertical, and enhance its delivery and supply chain operations. This strategic move will also help refinance existing loans and fuel Wow! Momo’s push into new markets and product categories.

Founded in 2008, Wow! Momo has rapidly diversified its offerings, launching brands such as Wow! China, Wow! Chicken, and Wow! Kulfi, and recently entering the frozen foods segment with quick commerce and retail distribution. The company is targeting a footprint of over 1,500 stores across more than 100 cities within the next three years and aims to grow its FMCG business to ₹100 crore while ramping up its HORECA (Hotel, Restaurant, and Catering) segment. The leadership team views this debt infusion as pivotal for scaling new formats, driving innovation, and building brands that resonate with Indian consumers.

Stride Ventures, known for backing high-growth startups, emphasized Wow! Momo’s strong brand recall, robust business model, and relentless innovation as key reasons for their investment. With this funding, Wow! Momo is well-positioned to further solidify its status as a category-defining player in India’s QSR and FMCG sectors, while preparing for larger equity rounds and a potential IPO in the coming years.

 

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