Connect with us

Latest News

Startup Community Comes Together For Mumbai

Published

on

Startup Community,Startup Community Mumbai,Latest News on Startups,Mumbai Heavy Rainfalls,#MumbaiRains,Mumbai Latest News,Startup Stories,Mumbai Rain Updates,Startup Stories India

Mumbai has been witnessing heavy rainfalls for the past two days and weather forecasts predict that this could be Mumbai’s longest and heaviest rainfall. Mumbai is currently facing water logged roads, traffic snarls and fallen trees in many parts of the city bringing life to a standstill. Movement of local trains was also affected, while flights were delayed or diverted leaving people stuck in offices, homes and on the roads.

To help out any individual in need many Mumbaikars have opened up their homes and offices to fellow citizens stuck or struggling on the streets. People took to twitter to let others know who to contact or call for assistance or seek shelter in neighboring areas.


Not wishing to be left behind the startup community also rallied and stepped up, offering free accommodation, food and shelter as Mumbaikars battle the worst rains in over a decade using their resources to help the city’s beleaguered citizens.

World’s largest online bus ticketing platform RedBus announced it was letting stranded Mumbaikars stay at its hotels for free and provided a number for coordination.

Fellow hotel aggregator startup Treebo also opened their hotels and tweeted the locations where people could stop and rest.

Search engine giant Google also ran alerts on its search page and provided useful information including a map of the areas affected, a red SOS warning and a link to the official Mumbai police Twitter handle.

Craft beer company Doolally also opened their doors for the people in Bandra, Khar, Andheri West, Colaba and Pedder Road with a promise of tea.

 

Cab hailing startups and rivals Ola and Uber also promised free rides and shuttles for Mumbaikars. Uber users can use the code ‘MUMBAIRAINS’ for free UberPOOL rides and the company has also canceled dynamic pricing during the heavy rains. 

Ola has also offered to run free shuttle services in multiple locations to ferry stranded citizens to shelters.

Brihanmumbai Electric Supply and Transport’s (BEST) official mobile ticketing and pass renewal app Ridlr Mumbai has also used the microblogging site Twitter to keep the citizens updated regarding the weather conditions and traffic congestion in the city.

Mumbai police have also used the platform to its fullest capabilities to help stranded citizens by tweeting useful information and contact details.

If you live in Mumbai or are stuck there right now, please be strong and stay safe. Contact the helplines available if you are stuck or need help.

 

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest News

Zepto Delays IPO to Focus on Profitability and Indian Ownership

Published

on

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.

Continue Reading

Latest News

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

Published

on

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.

 

Continue Reading

Latest News

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

Published

on

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.

 

Continue Reading
Advertisement

Recent Posts

Advertisement