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00:00 Indigo wants to launch electric air taxi in India by 2026
01:52 Flipkart-Zepto deal falls through
03:29 Sponsor
05:18 PhonePe-owned Pincode exits fashion and electronics categories
06:55 Zomato Experiments
08:04 Good Glamm controversy
09:09 GST impact on online gaming
10:12 Funding news
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Indigo wants to launch electric air taxi in India by 2026
1.India’s largest airline (by market share - in terms of passengers carried) Indigo wants to take you from Delhi to Gurugram in just 7 minutes.
2.Indigo has partnered with a US-based startup Archer Aviation to make this dream a reality as soon as 2026.
3.An Uber ride from Delhi to Gurugram can easily cost you anywhere around 500 to 800 rupees and can take you around 90 minutes.
Flipkart-Zepto deal falls through
1.Flipkart tried to buy Zepto to get into the quick commerce space.
2.Last year, the entire e-commerce industry grew by 15%, which is not a small number.
3.But the quick commerce segment alone grew at a rate of 77% - that’s insane.
PhonePe-owned Pincode exits fashion and electronics categories
1.Flipkart’s sister company PhonePe launched Pincode as an ecommerce platform last year to leverage the ONDC network.
2.At the time, Pincode allowed its users to buy anything from electronics to groceries through the ONDC network.
3.They have decided to exit all these categories except food delivery.
Zomato Experiments
1.Zomato is laser-focused on increasing their profits.
2.And they are continuously adding new features and fees to make sure their profits are optimised.
3.Zomato has now increased their platform fee to 5 rupees (up from 4 rupees).
Good Glamm controversy
1.The Good Glamm Group, which operates as a content-to-commerce company, has received default notices from the founders of Sirona, The Moms Co and the investors from Indian Angel Network (IAN).
2.Back in 2021, The Good Glamm Group acquired Sirona Hygiene or 100 crore rupees and The Moms Co for 500 crore rupees.
3.The founders and the IAN investors (who had invested in these companies) were supposed to get their final payment in January but this never happened.
GST impact on online gaming
1.Online gaming companies in India have received tax notices amounting to 1.12 lakh crore rupees since the GST on online gaming was revised from 18% to 28% in October 2023.
2.According to a senior government official that Moneycontrol talked to, the GST collected from online gaming companies was just 200 crore rupees before October 2023.
3.But since the revised GST, this figure has gone up to 1,100 crore rupees per month - a more than 5X jump.
Funding
1.This week, Indian startups raised a total of 73 million dollars
2.Mumbai-based Network as a Service startup - CloudExtel raised 24 million in debt.
3.Bengaluru-based truck aggregator LetsTransport raised 22 million dollars in their series E round.
4.Hyderabad-based spacetech startup Dhruva Aerospace raised 15 million dollars in their series A round.
5.Bengaluru-based bubble tea brand Boba Bhai raised 1.5 million dollars in their seed round.
6.Jaipur-based smart appliances manufacturer Karban Envirotech raised 1.07 million dollars in their seed round.
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1 июн 2024
