Phab, the D2C healthy snacking brand co-founded by Ankit Chona of ice cream brand Hocco and his wife Gayatri Chona, has raised $2 million (around ₹17 crore) in a seed funding round led by OTP Ventures, with participation from Capri Global, Sim&San law firm, and angel investors.

Founded in 2018, phab offers protein bars and healthy milkshakes, leveraging Ankit’s decade-long food industry experience and Gayatri’s expertise as a certified nutritionist. The brand has sold over 2 million units and sells through e-commerce and quick commerce platforms like Amazon, Flipkart, Zepto, and Blinkit.

Despite a 12% dip in operating revenue to ₹5 crore in FY24, phab trimmed its net loss by nearly 3% to ₹6.8 crore, showing improved efficiency.

The new funds will be used to expand the team, invest in production capacity, and grow phab’s presence across digital, quick commerce, and offline channels. The brand competes with Yoga Bar, Beyond Snack, and The Whole Truth in India’s growing $68 billion healthy snacking market. OTP Ventures’ founding partner Suhail Sameer praised phab’s bold, differentiated approach and the founders’ vision, signaling strong investor confidence in the brand’s growth potential.

Nitin Agarwal, cofounder and CEO of GlobalBees-the e-commerce roll-up subsidiary of FirstCry-has resigned, effective April 24, 2025, citing personal reasons. Agarwal, who helped GlobalBees achieve unicorn status within months of its 2021 founding, will support the company’s transition until May 23, 2025.

Anuj Jain, a FirstCry veteran with over 23 years of experience and a background at ITC and L’Oréal, will take over as CEO from April 25, 2025. Jain previously led FirstCry’s pre-school segment and served as Senior Vice President of Marketing at Brainbees Solutions.

Agarwal’s departure follows several recent leadership changes within the FirstCry group. GlobalBees, which invests in D2C brands across various sectors, contributed ₹1,209 crore to FirstCry’s FY24 revenue, highlighting its strategic significance. With Jain’s appointment, the company aims to continue its strong growth in the D2C space.

Swiggy has launched Pyng, a new app aimed at connecting consumers with verified professionals across over 100 specializations, including yoga instructors, financial advisors, tutors, and event planners. Currently live in Bengaluru, Pyng uses AI to match users with trusted experts and offers a money-back guarantee for unsatisfactory services.

The app also provides professionals with tools to manage bookings, track payments, and schedule services efficiently. This marks Swiggy’s entry into the professional services marketplace, expanding beyond its core food delivery and quick commerce businesses. Pyng is available on both iOS and Android, with plans for a nationwide rollout.