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SoftBank Looking To Merge Ola And Uber?

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After selling it’s South Asian Business to Grab, global ride hailing startup Uber may reportedly merge with the Bengaluru based cab aggregator Ola with SoftBank playing the role of a matchmaker.

According to sources close to the development, Japanese investment giant SoftBank, called for a merger between the two startups and the final details would be revealed during the coming months. Reuters reported, executives from Uber and Ola met at least twice over the last 12 months, the most recent being Uber CEO Dara Khosrowshahi’s visit to India in February.

However, before news surfaced regarding the merger, Khosrowshahi claimed the company was a 100% committed to the Indian market. “We continue to make aggressive strides in India and we consider India as one of our forts. How we perform as a company after 10 years very much depends on our success in India,” he added. But if the company is planning to go public in 2019, it is essential for the company to curb its losses.

While both the spokespersons for Uber and SoftBank declined to comment about this development, an Ola spokesperson said in a statement, “In India’s transformative digital journey, Ola will always be an active and integral part for decades to come. SoftBank and all other investors are committed in realising this ambition.

The Business Standard reported SoftBank is in favor of an acquisition but both the companies are looking at having a controlling stake in the combined entity. As per a report by Counterpoint Research, Uber, which currently operates in 30 Indian cities has more than 35% share of the taxi market. Ola, on the other hand, has more than 45% market share, operating in 110 cities.

Speaking about a potential merger in the Indian market, Dara Khosrowshahi remained cryptic and said, “We will look at any deals that can add value to its partners and shareholders, but we believe in controlling our own destiny in India.” Currently, India is among Uber’s top three markets following the United States of America and Latin America, accounting for 10 percent of its trips globally.

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Bengaluru’s Cult.fit Set to Make Waves in the Market with Upcoming ₹2,500 Crore IPO

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Cult.fit, the Bengaluru-based fitness and wellness platform backed by Zomato, has finalized five top investment banks—Axis Capital, Jefferies, Goldman Sachs, Morgan Stanley, and JM Financial—to manage its highly anticipated Initial Public Offering (IPO). The company aims to raise ₹2,500 crore through this offering, which is expected to value Cult.fit at nearly $2 billion.

Company Growth and Business Model

Founded in 2016 by Mukesh Bansal and Ankit Nagori, Cult.fit has grown into a diversified health and wellness ecosystem. The company operates over 500 gyms across India and has expanded into multiple segments:

  • Cultsport: Direct-to-consumer fitness apparel and equipment (30% revenue contribution).
  • Eat.fit: Healthy meal delivery service (24.5% of revenue).
  • Mind.fit: Yoga and mental wellness services.
  • Care.fit: Healthcare clinics and diagnostics.

In FY24, Cult.fit reported an operating revenue of ₹927 crore, a 33.6% jump from ₹694 crore in FY23. Despite this growth, the company recorded a loss of ₹535 crore.

IPO Details

The IPO marks a significant milestone for Cult.fit, which was last valued at $1.56 billion during Zomato’s $100 million investment in 2021. With strong backing from investors like Accel Partners, Tata Digital, Temasek, Kalaari Capital, and Chiratae Ventures, the upcoming IPO is set to further strengthen its position in the Indian fitness industry.

Strategic Importance

Cult.fit’s move to go public reflects its ambition to scale operations and attract institutional investors globally. Its diversified business model positions the company as a leader in India’s growing fitness market. Analysts are closely watching this IPO as one of the most anticipated offerings of 2025.

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Indian Healthtech Startup Dozee Raises $8 Million to Revolutionize Healthcare with Innovative Technology

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Indian Healthtech Startup Dozee Raises $8 Million to Revolutionize Healthcare with Innovative Technology

Dozee, an Indian healthtech startup focused on remote patient monitoring, has raised $8 million in its latest funding round to boost its global expansion. This significant investment will help the company enhance its presence in both domestic and international markets.

 

Funding Overview

The funding attracted a mix of existing and new investors, including Prime Venture Partners, 3one4 Capital, and the State Bank of India. The capital will primarily be used to expand Dozee’s reach to hospitals worldwide and strengthen its research and development efforts. CEO Mudit Dandwate highlighted the funding’s role in improving critical care facilities globally while promoting Indian-made products.

Innovative Solutions

 

Dozee is recognized for its Contactless Vital Signs Measurement System, which allows healthcare providers to monitor patients’ vital signs without direct contact. This technology has been implemented in over 380 hospitals across India, significantly reducing the workload on nursing staff and saving valuable time.

The company’s AI-powered Early Warning System (EWS) can predict patient deterioration up to 16 hours in advance, enabling timely medical interventions that could save lives.

 

Global Expansion Plans

Dozee aims to tap into over 2,000 hospitals across more than 100 districts in India within the next two years as part of its expansion strategy. The company is also looking to enter new international markets while adapting its technology to meet various regulatory standards.

With this funding, Dozee is set to make substantial progress in the healthtech sector, aligning with global trends towards more efficient healthcare solutions and positioning itself as a leader in remote patient monitoring.

 

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Zepto Prepares for IPO with $250 Million Secondary Share Sale to Boost Domestic Investor Ownership

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Zepto Prepares for IPO with $250 Million Secondary Share Sale to Boost Domestic Investor Ownership

Zepto, the Bengaluru-based quick commerce startup, is preparing for its initial public offering (IPO) by facilitating a secondary share sale worth up to $250 million. This strategic move aims to increase Indian investor ownership from approximately 33% to nearly 50% before the anticipated public listing later this year or early next year.

Funding and Investor Details

The secondary sale will involve private equity firms, including Motilal Oswal Financial Services and Edelweiss Financial Services, allowing existing investors and employees to liquidate their shares. Although Zepto will not raise additional capital through this transaction, it is expected to execute the sale at a valuation of just over $5 billion, consistent with its last funding round in November 2024.

Objectives Behind the Sale

The primary goal of this secondary share sale is to enhance domestic ownership in Zepto, aligning with regulatory preferences and making the IPO more attractive to local institutional investors. Co-founders Aadit Palicha and Kaivalya Vohra currently hold about 20% of the company, and increasing Indian shareholder stakes is seen as a way to strengthen governance and influence over the company’s future direction.

Market Context

Zepto operates in India’s competitive grocery delivery market, facing challenges from established players like Amazon India, Swiggy, Zomato, and BigBasket. Founded in 2021 by Palicha and Vohra after they dropped out of Stanford University, Zepto has quickly gained traction in the quick commerce sector.

Conclusion

As Zepto approaches its IPO, this secondary share sale represents a crucial step in solidifying its position in the Indian market. By boosting domestic investor participation, Zepto aims to enhance its credibility and appeal as it prepares for a public listing amidst a wave of Indian startups entering the stock market.

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