We bring you the most exciting startup stories, funding wins, and bold moves every single week – in a format that’s easy, fun, and quick to read.
Takeaways this week
Startups like Zepto and Bluestone are changing the game, proving that innovation + grit = unstoppable growth. Whether it’s travel, education, jewellery, or groceries, these startups are shaping the business ecosystem of the Indian economy.
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🚍 ZingBus is on the Move!
Intercity travel just got a boost! ZingBus, the startup that’s making long-distance travel easier, just raised Rs 59 crore ($7 million) in its first big funding round of 2024.
Here’s who jumped on board:
- BP Ventures led with Rs 41.8 crore (7.9% stake)
- IE Ventures (Info Edge-backed) pitched in Rs 14 crore (6.07% stake)
- 9 Unicorns and AdvantEdge VC added Rs 1.25 crore and Rs 2 crore, respectively
What does this mean? Growth, expansion, and a smoother ride for all of us. This round values the company at Rs 530 crore ($63 million).
Fun fact: Founded in 2019, ZingBus works by partnering with bus operators, making intercity travel easier. Last year, they tripled their revenue to Rs 218 crore (but yeah, losses were Rs 51 crore). It’s not a smooth road yet, but they’re driving hard against rivals like Yolobus, IntrCity, and Abhibus.
🎓 upGrad: Lessons in Growth and Flexibility in Business
Edtech giant upGrad is teaching us all a lesson in turning things around. They reported some pretty impressive numbers for FY24:
- Gross Revenue: Rs 1,876 crore
- EBITDA Loss: Cut down to Rs 202 crore (from a steep Rs 558 crore last year)
- Total Losses: Down by a solid 50.6% to Rs 560 crore
What’s fueling this growth? upGrad raised $60 million last October from Temasek, valuing the company at $2.25 billion. Today, Temasek holds 20.5%, while co-founder Ronnie Screwvala and family are still the biggest stakeholders with 45%.
Oh, and in case you’re wondering about the competition – Eruditus also raised a whopping $150 million last October. This certainly makes it clear that there is still much scope for the sector (Edtech) to explore more possibilities in the future.
💍 Bluestone: Shining Bright with IPO Plans
Bluestone, the omnichannel jewellery retailer, is all set for its big moment – the IPO! They’ve filed their papers with SEBI for a Rs 1,000 crore fresh issue and a 2.398 crore share OFS.
What’s impressive?
- FY24 Revenue: Jumped 64% YoY to Rs 1,266 crore
- Losses: Down 15% to Rs 142 crore
With 203 stores in 86 cities and a growing online presence, Bluestone is shining bright. It’s now valued at Rs 7,750 crore ($922 million) after its Rs 900 crore pre-IPO round last year. If jewellery is your thing, this is definitely a name to watch.
⚡ Zepto: Fast, Furious, and Full of Potential
Zepto, India’s most buzzworthy start-up, has become the defining name in the quick-commerce industry. The quick commerce startup doubled its revenue in FY24 to a jaw-dropping Rs 4,454 crore while almost keeping its losses in check:
- Losses: Slightly down to Rs 1,249 crore (from Rs 1,272 crore)
- EBITDA margin: Improved to -23.81%
Where’s the money going?
- Procurement: Rs 3,481 crore
- Delivery costs: Rs 580 crore
- Warehousing: Rs 493 crore
Zepto’s growing fast with 550+ dark stores and 700,000+ orders daily, holding a 29% market share (second only to Blinkit at 46%). And here’s the kicker: they recently raised $350 million led by Motilal Oswal, valuing the company at $5 billion.
What’s next? Zepto isn’t stopping with groceries. The company is launching Zepto Cafe, a standalone app for 10-minute food deliveries, directly taking on Swiggy’s Bolt and Blinkit’s Bistro. CEO, Aadit Palicha, quoted Zepto will be profitable by FY26 and aims to go public by late 2025.
The ever-evolving start-up ecosystem adds a sense of excitement and energy to the business world, often influencing markets in subtle yet impactful ways that can indirectly affect your investments. As an investor, staying informed about emerging opportunities is essential. Our goal is to simplify the latest news and present it in a way that keeps you engaged and makes staying updated a habit. Until next week, stay curious and stay informed!
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