Zomato Media Pvt., Ltd., the online restaurant discovery and food ordering platform is reportedly in talks with Alibaba’s payments firm Ant Financial Services Group to raise $ 200 million. This potential round of investment could value the company between $800 million and $900 million or even up to $1 billion.
The deal, which hasn’t been finalized yet, could see the Chinese ecommerce giant pick up a major stake in the company. A major news daily reported this round could finally allow Zomato to earn that Unicorn tag that it missed by a small margin during the last round of financing. Zomato, which has been in the market to raise funds since the beginning of the year, declined to comment.
Ant Financial, also known as Alipay, is also looking to strengthen its foothold in South East Asian markets like India, New Zealand and Australia. Zomato which has a strong presence in Southeast Asia and the Middle East will add to Alibaba and Alipay’s global play. The deal will also allow the food discovery platform to work closely with the digital payments platform Paytm, which counts Ant Financial as one of its largest investors.
Launched in 2008, Zomato has raised over $ 200 million in funding rounds with the latest being $60 million from Temasek and Vy Capital in September 2015. The investment valued the firm at about $960 million, barely missing the $ 1 billion mark. Zomato, at present, is competing against food ordering platforms such as Bundl Technologies Pvt., Ltd., owned Swiggy, which is backed by South African media giant Naspers. Swiggy raised $ 80 million in funding from Naspers in May this year and has already raised over $160 million in equity and debt, since its launch in 2014.
Zomato, which was forced to introduce food ordering on its platform, saw an 89% rise in revenue which reached Rs. 334 cores for the financial year 2017. But Zomato’s fight with Swiggy for market leadership in the food delivery space is more capital intensive. Zomato claims that for the first time in July this year they have delivered over 3 million monthly orders, maintaining that its average order value is higher than that of its competitor, resulting in higher gross sales.
Watch how Zomato came to dominate the restaurant discovery and online food ordering sector here –
Blissclub, the women-centric D2C apparel brand, has raised INR 33 crore in a Pre-Series B funding round led by Elevation Capital, with Eight Roads Ventures also participating. This funding comes just three months after the company laid off 18% of its workforce-about 21 employees from creative, sales, marketing, growth, and product teams-due to high cash burn and challenges in securing new capital.
The latest investment was made through the allotment of 16,076 compulsory convertible preference shares (CCPS) at a premium of INR 20,428 each. Elevation Capital invested INR 19 crore, securing a 24.5% stake, while Eight Roads Ventures contributed INR 14 crore, raising its stake to 15.79%. The capital will be used for working capital, capital expenditure, and general corporate purposes. Founded in 2020 by Minu Margeret, Blissclub started as an online activewear brand for women and has since diversified its product range and established offline stores. Despite recent restructuring, the company’s revenue grew 27% to INR 86.9 crore in FY24 from INR 68.3 crore in FY23, though net losses also increased to INR 43.9 crore.
Blissclub’s successful fundraising, despite recent layoffs, underscores both the ongoing challenges and the resilience of India’s D2C startup sector in a difficult funding environment.
Apple is set to relocate all assembly of iPhones destined for the US market from China to India by the end of 2026, marking its biggest manufacturing shift in decades. The move is driven by escalating US-China trade tensions and steep tariffs—up to 145% on Chinese imports—making Chinese assembly increasingly costly for Apple. Although some smartphone imports are temporarily exempt, a 20% duty still applies to Chinese-made iPhones entering the US.
India, in contrast, offers a more favorable trade environment, with a paused 26% reciprocal tariff and ongoing negotiations for a bilateral trade deal with the US that could shield Indian exports from future levies. Apple plans to more than double its current iPhone output in India, aiming to assemble over 60 million units annually for the US market. The company already produces about 25% of its global iPhones in India, working with partners like Foxconn, Tata Electronics, and Pegatron.
This shift is part of Apple’s broader strategy to diversify its supply chain and reduce reliance on China amid geopolitical risks. However, the transition’s success will depend on how quickly India can scale up its manufacturing capabilities and the outcome of ongoing trade negotiations.
PhonePe’s PINCODE app has launched a 24×7 online medicine delivery service in Bangalore, Mumbai, and Pune, promising delivery of both prescription and over-the-counter medicines within 10 minutes from nearby local medical shops. Unlike conventional e-pharmacies that use dark stores, PINCODE partners exclusively with neighborhood pharmacies, enabling faster deliveries and supporting local businesses in the digital economy.
Customers without prescriptions can select a “no prescription” option when ordering; a qualified doctor then provides a free teleconsultation and issues a digital prescription compliant with telemedicine guidelines, ensuring seamless access to medicines. The app offers competitive pricing by passing discounts from local pharmacies directly to customers and charges no delivery fees.
PINCODE’s hyperlocal model enhances healthcare accessibility and convenience while empowering local pharmacies, helping them remain integral to their communities and stimulating local economic growth. Launched in 2023, the app focuses on quick commerce with an emphasis on speed, reliability, and supporting local sellers.
In summary, PhonePe’s PINCODE app is transforming medicine delivery in major Indian cities by combining ultra-fast 10-minute delivery, free doctor consultations, and a hyperlocal sourcing model that benefits both consumers and neighborhood pharmacies.
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