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SoftBank Invests In Grocery Startup Grofers

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SoftBank Invests In Grocery Startup Grofers,Startup Stories,Latest Business News 2018,Online Grocery Store Grofers,SoftBank Business Updates,SoftBank Funding News,Online Delivery Platforms Funding from SoftBank,Online Grocery Startup Grofers,Grocery Startup Grofers Funds

Online grocery store, Grofers, raised $ 62.5 million in a round of funding led by SoftBank. As a result of this investment, SoftBank now owns around 35 % to 40 % of the Gurgaon based startup. According to several industry reports, this investment round also saw participation from existing investors like Tiger Global and Russian tech billionaire, Yuri Milner.

This funding round came barely a month after Grofers released a statement saying they were expecting a funding round of around $ 65 million from its existing investors. Founded in the year 2013 by two tech developers, Grofers recently shut down the operations in several cities around the country. Reportedly, the online grocery company wants to focus only on the Delhi/NCR region.

Just before it shut down operations across the country, Grofers used to deliver in 26 countries, clocking in nearly 15,000 orders on a daily basis, with an average basket size of $ 18.7 to $ 20.8 (about Rs. 1,200 to Rs. 1,350.) This move comes in an effort to strengthen Grofers strong market position. In the last year, its biggest competitor, BigBasket secured around $ 300 million in a Series E funding round led by Alibaba with the participation of Abraaj Capital, Sands Capital and IFC.

Grofers currently offers products across categories like grocery, fruits and vegetables, beauty and wellness, household care, baby care, pet care, bakery and meats and seafood, among other things. The company claims to be profitable with day to day based online deliveries in Delhi. As of March 2017, BigBasket holds about 35% in the food delivery sector while Grofers follows behind as a close second.

Flipkart, on the other hand, is reportedly looking to set up a chain of delivery and retail stores all across the country. This is going to happen in partnership with global retail giant, Walmart. With so many competitors popping up in growing numbers, Grofers faces some serious competition. It is going to be interesting to see how the online delivery platform uses this round of funding from SoftBank.

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PayU Gets Final RBI Nod to Operate as Payment Aggregator Ahead of 2025 IPO

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PayU India, owned by Prosus, has received final approval from the Reserve Bank of India (RBI) to operate as an online payment aggregator, a year after getting in-principle approval in April 2024. This authorization allows PayU to onboard new merchants and offer digital payment solutions, joining other major players like Razorpay, CCAvenue, and BillDesk.

The RBI’s nod comes as PayU prepares for its planned IPO in the second half of 2025, following a delay from its original 2024 timeline due to market conditions. The company, which serves over 450,000 merchants, reported $319 million in revenue from its core payments and credit business in the first half of FY25.

PayU stated that the approval will help it build a resilient, compliant, and innovation-driven institution, supporting merchants of all sizes and advancing the Digital India vision. The company has also strengthened its risk management and expanded its presence in real-time payments through a strategic stake in Mindgate Solutions.

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Google’s Iconic ‘G’ Logo Gets First Update in 10 Years

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Google has refreshed its iconic ‘G’ logo for the first time in nearly 10 years, replacing the familiar solid blocks of red, yellow, green, and blue with a smooth, vibrant gradient that blends these colors seamlessly. This subtle update gives the logo a softer, more fluid, and modern appearance, aligning with Google’s evolving digital identity and current design trends.

The new gradient transitions smoothly from red to yellow, yellow to green, and green to blue, making the logo more visually appealing and adaptable across various devices, especially on mobile platforms. This redesign also reflects Google’s growing emphasis on artificial intelligence, echoing the gradient style used in the branding of Google Gemini, the company’s AI-generative assistant.

The updated ‘G’ logo has started rolling out on iOS through the Google Search app and on some Android devices, particularly Pixel phones running the Google app beta version 16.18. However, most other platforms, including the web and non-Pixel Android devices, still display the classic solid-color logo. A wider rollout is expected in the coming weeks.

So far, Google’s main wordmark and other product logos like Chrome, Maps, and Gmail remain unchanged. Given the shift toward gradient designs and AI-inspired visuals, similar updates to other Google icons may follow in the future.

In summary, this first major update to the ‘G’ logo since 2015 signals a subtle but meaningful shift in Google’s branding strategy, blending tradition with innovation as the company deepens its focus on AI and modern design aesthetics.

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Ixigo Halts Bookings for Flights and Hotels to Turkey, China

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Indian online travel platform ixigo has suspended all flight and hotel bookings to Turkey, China, and Azerbaijan in response to these countries expressing support for Pakistan after India’s military strikes-dubbed ‘Operation Sindoor’-against terror bases in Pakistan and Pakistan-Occupied Kashmir. The move, announced by CEO Aloke Bajpai on X, was described as an act of solidarity with India during heightened diplomatic tensions following the Pahalgam terror attack.

ixigo’s decision aligns with similar actions by other Indian travel companies, including EaseMyTrip and Cox & Kings, which have also restricted travel services to Turkey, China, and Azerbaijan. The suspensions come amid widespread calls for boycotts after these countries condemned India’s military response and backed Pakistan.

The travel industry’s collective response underscores how geopolitical developments are influencing business decisions, with Indian companies emphasizing national interests and unity in the face of international criticism

 

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