News

Zypp Electric's revenue surged 168% to INR 292.7 crore in FY24.
The company's total revenue reached INR 302.6 crore in FY24.
Despite the revenue growth, Zypp Electric's net loss increased by 125%.
The increased loss can be attributed to higher operational costs.

• Dairy tech startup Country Delight has raised an additional ₹130 crore in debt funding from Alteria Capital.
• The funds will be used to expand operations, enhance capacity, and strengthen marketing initiatives.
• Country Delight, founded in 2015, delivers milk and other dairy products directly to consumers.
• The company has raised over $248 million in funding to date.

Ninjacart's operating revenue increased by 74% in FY24.
The company reduced its net loss by 20% in the same period.
Ninjacart implemented cost-cutting measures and leveraged AI to improve efficiency.
The company expanded its reach to tier 2 and tier 3 cities.

Swiggy has set the price band for its IPO at INR 371-390 per share.
The IPO is scheduled to open for public subscription from November 6 to 8.
At the upper end of the price band, Swiggy's valuation could reach $11.3 billion.
The company aims to raise significant funds through the IPO to fuel its growth.

Dairy tech startup Country Delight has raised an additional ₹130 crore in debt funding from Alteria Capital.
• The funds will be used to expand operations, enhance capacity, and strengthen marketing initiatives.
• Country Delight, founded in 2015, delivers milk and other dairy products directly to consumers.
• The company has raised over $248 million in funding to date.

Zomato has introduced a new feature allowing users to schedule food deliveries in advance.
This feature is available in over 35,000 restaurants across 30 cities.
Zomato has recently increased its delivery fee to INR 10.
Swiggy already offers a similar service called 'Swiggy Scheduled.'

MeitY and Meta have partnered to establish the Srijan Centre for Generative AI at IIT Jodhpur.
The center aims to advance AI research and promote open-source innovation.
MeitY has launched the YuvAi Initiative to train 1 lakh young developers in AI skills.
The initiative aims to develop indigenous AI applications and boost research capabilities.

• Nykaa will not prioritize quick commerce as its sole business channel.
• The company will focus on building a nationwide network.
• Nykaa recently launched a 10-minute delivery pilot in Mumbai.
• The company will continue to focus on its core strengths in beauty and fashion.

Infosys and Meta launch new Center of Excellence (COE) for enterprise AI integration.
Partnership aims to accelerate adoption of Meta's Llama stack.
Infosys launches dedicated AI Experience Zone for Meta in Bengaluru.

Zomato has announced that its board will meet on October 22, 2024, to consider raising funds through Qualified Institutional Placement (QIP). The company has not disclosed the exact amount it plans to raise, pending board approval and necessary regulatory approvals.