Consumer D2c
- Consumer & D2C1 day ago
Why InstaHelp Isn’t Helping Urban Company’s Finances
Urban Company launched InstaHelp last year to position itself as the go-to platform for instant household assistance, but the vertical is increasingly becoming a financial burden rather than a growth engine for the company. The startup, which made a blockbuster stock market debut last year with shares listing at a premium of north of 57% , had largely earned investor confidence because of one rare trait among new age tech Indian IPOs. That is profitability. However, less than a year after its IPO, Urban Company has slipped back into losses, with InstaHelp emerging as the biggest drag on its balance sheet. Before it went public, the startup reported a profit of ₹239.7 Cr in FY25, while its operating revenue jumped 38% YoY to ₹1,144.5 Cr. However, by the end of FY26, the numbers changed drastically. In the recently concluded financial year (FY26), the startup reported a net loss of ₹234.8 Cr , despite its revenue growing 35.9% YoY to ₹1,555.5 Cr. A significant chunk of this pressure came from InstaHelp. In Q4 FY26 alone, the vertical posted an EBITDA loss of ₹119 Cr, while generating a meagre revenue of ₹9 Cr during the same time period. Let’s try to understand this. Cost Of Scaling InstaHelp Urban Company’s story till FY25 was largely seen as a rare new-age Indian consumer internet success story. Unlike most startups that were still burning capital for scale, Urban Company had managed to achieve profitability in a category considered structurally difficult. And to top off it, Urban Company was the single largest player in the space, which had managed to organise this large unorganised marketplace. Home services are operationally heavy, fragmented, and dependent on supply quality. Yet the startup managed to build a trusted consumer brand around beauty, repairs, cleaning, while being able to manage healthy contribution margins Currently, that narrative has completely changed. The startup’s management in the recent earnings call have repeatedly underlined that InstaHelp
- Consumer & D2C1 day ago
Inventory Model Pivot? Swiggy Seeks Shareholder Nod To Cap Foreign Ownership
Foodtech major Swiggy has kickstarted the process of becoming an Indian-owned and controlled company (IOCC). As part of this, the foodtech major has sought shareholder approval to amend its articles of association and rejig its board nomination framework. In a clarification filed with the bourses, Swiggy said that the proposed framework is aimed at becoming an IOCC under the country’s foreign exchange laws. “The company wishes to clarify that the Proposed Amendment also forms part of a broader endeavour by the company to become an Indian Owned and Controlled Company (IOCC) under applicable Indian foreign exchange laws and regulations…,” said the foodtech major. Under current Foreign Exchange Management Act (FEMA) rules, a company can qualify as an IOCC only if both ownership and control rest with resident Indian citizens or eligible Indian entities. An IOCC’s board composition and nomination framework should also back domestic control. The company added that it will require shareholder approval and other corporate actions to complete the process. This follows the company last month issuing a postal ballot notice, seeking shareholder approval for amendments to its articles of association and the appointment of Renan De Castro Alves Pinto as a non-executive nominee director. The remote e-voting commenced on April 21 and will close on May 20. Why Is Swiggy Pushing For Domestic Ownership? The foodtech major is looking to become an IOCC to likely build safeguards to maintain domestic control in the absence of an “identifiable promoter group holding a substantial stake” in the company. The IOCC tag is expected to unlock new opportunities for the company in the quick commerce space. Just like its rival Eternal, the push is aimed at helping its quick commerce vertical Instamart transition to an “inventory ownership” model from the current marketplace model led by third-party sellers. The transition would allow it to procure directly from brands and sell them on its platform
- Consumer & D2C1 day ago
Swiggy’s Inventory Pivot Plan Stalls After Failed Vote
Shareholders have shot down foodtech major Swiggy’s bid to become an Indian-owned and controlled company (IOCC). The foodtech giant failed to secure the necessary votes to amend its articles of association (AoAs) and rejig its board nomination framework. In a filing with the exchanges , the company said that it received 72.36% of the votes in favour of the amendment, falling short of the 75% threshold by 2.65%. This is the first time that shareholders have voted down a resolution since the foodtech giant went public in November 2024. This follows the company last month issuing a postal ballot notice, seeking shareholder approval for amendments to its AoAs and the appointment of Renan De Castro Alves Pinto as a non-executive nominee director. The remote e-voting commenced on April 21 and closed on May 20. Last week, Swiggy filed a clarification with the bourses, saying that the proposed framework was aimed at becoming an IOCC under the country’s foreign exchange laws. Under current Foreign Exchange Management Act (FEMA) rules, a company can qualify as an IOCC only if both ownership and control rest with resident Indian citizens or eligible Indian entities. The foodtech major was eyeing the IOCC tag as it would unlock new opportunities for the company in the quick commerce space. Just like its rival Eternal, the push was aimed at helping its quick commerce vertical Instamart transition to an “inventory ownership” model from the current marketplace model led by third-party sellers. The transition would have allowed it to procure directly from brands and sell them on its platform, replacing commission revenue with net sales. This would have meant higher margins, better control over the supply chain, including warehousing and logistics, and better customer service. While the plans have been dashed for now, Swiggy had been preparing for the inventory pivot for some time now. In May last year, it rolled out a separate Instamart app, signalling that the quick commerce ventu
- Consumer & D2C1 day ago
Zepto To Float ₹11,000 Cr IPO By July: Report
Quick commerce platform Zepto reportedly plans to float its ₹11,000 Cr ($1.1 Bn) initial public offering (IPO) within the next two months. Sources told news agency PTI that the unicorn is eyeing a listing on the bourses before July 31. The company is now planning to submit its updated draft red herring prospectus (UDRHP) with the markets regulator in the coming weeks. If the listing materialises, Zepto will become the third quick commerce startup to list on the bourses, after Blinkit parent Eternal and Swiggy. This comes weeks after the quick commerce giant received Securities and Exchange Board of India’s (SEBI’s) approval for its proposed IPO. Previous reports suggested that the company’s potential public issue would largely comprise a primary capital raise, although the final issue size and pricing are yet to be finalised. In December 2025, the startup received board’s approval to raise up to ₹11,000 Cr through a fresh issue of shares via its public offering. Subsequently, it filed its DRHP with SEBI via the confidential pre-filing route for a listing. Founded in 2021 by Aadit Palicha and Kaivalya Vohra, Zepto is among the leading players in India’s rapidly expanding quick commerce space. The startup competes with Blinkit, Swiggy Instamart, and newer entrants such as Amazon Now and Flipkart Minutes. According to a recent report by brokerage firm Bernstein, Zepto reportedly operates nearly 1,255 dark stores across 61 cities, overtaking second-placed Instamart that runs 1,181 dark stores spanning 128 cities. The analysis also showed that Zepto’s daily order volume stands at nearly 1.6 Mn compared to Instamart’s estimated 1.2 Mn. The Aadit Palicha-led company last raised $450 Mn , in a mix of primary and secondary transactions, in October last year, which valued the company at $7 Bn. The unicorn has raised over $2.3 Bn to date and counts names such as Epiq Capital, Dragon Fund, General Catalyst, Y Combinator and DST Global as investors. The development comes a
- Consumer & D2C1 day ago
Why Swiggy Failed The Shareholder Litmus Test
In October last year, Swiggy CEO Sriharsha Majety called Instamart’s shift to an inventory-led model an eventuality. That conviction, it seems, has hit a hurdle. Shareholders rejected the special resolution that sought to amend Swiggy’s Articles of Association (AoA) and become an Indian-Owned and Controlled Company (IOCC). The proposal secured around 72% votes in favor, falling short of the 75% threshold needed to pass the special resolution. At a cursory glance, this could be seen as a routine setback. But in reality, this is the first time Swiggy’s has faced such a challenge. The amendment was not the only item on the agenda. One could argue that the inclusion of a revised board structure along with the AoA amendment as a combined resolution was actually the breaking point for shareholders. The lack of a majority vote reflects the rising investor unease around Swiggy’s governance structure, its continued losses, and aggressive investments in Instamart growth even as profitability remains a distant dream. As indicated above, the rejected proposal, if passed, would have also altered board nomination rights within Swiggy. The resolution proposed allowing group CEO Majety to nominate himself and another senior management executive to the board. Cofounder and chief growth officer Phanei Kishan Addepalli would have received the right to nominate himself as director under specific conditions. While Swiggy said that the amendments were closely tied to the company’s plan to get that all-important IOCC status before the shift to inventory model, some shareholders saw these proposed board moves and rights as a red flag. Proxy advisory firm Institutional Investor Advisory Services (IiAS) and others opposed the resolution arguing that Swiggy failed to provide adequate clarity on the time and structure of IOCC transition. It also questioned whether board nomination rights should be linked to relatively low shareholding thresholds and vested employee stock options that were yet
- Consumer & D2C1 day ago
Exclusive: Yes Madam Bags ₹50 Cr In Maiden Funding Round From Info Edge
At-home salon startup Yes Madam has raised ₹50 Cr (about $5.2 Mn) in its maiden institutional funding round from Info Edge Growth Fund. The investment will fuel Yes Madam’s next phase of expansion, which includes accelerating presence into new markets across Indian cities. It is also looking at enhancing its technology stack, deepening its partner network, and enhancing customer experience. Founded in 2016 by Mayank Arya, Aditya Arya, and Akanksha Vishnoi, Yes Madam provides at-home salon and spa services for both male and female customers, with waxing and facials being the key anchor services. It also appeared on TV show Shark Tank India in 2024 . It operates its services through a network of over 12,000 partner providers, claiming to run on a low commission model that enables partners to earn an average of ₹25,000 per month, which goes up to ₹60,000 for top earners. The startup uses own-branded mono-dose products meant for single-use applications, and separates service and product costs for its customers for pricing transparency. Yes Madam is currently present in around 55 cities across the country, with around 3 Lakh booking fulfilled monthly. It claims to have completed over 65 Lakh bookings since inception, maintaining a net promoter score (NPS) of 50% and customer retention of almost 80%. The startup was bootstrapped till now and claims to be profitable. It claims to have reported a revenue of ₹195 Cr in FY26, up 107% from ₹94 Cr in FY25. Its EBITDA was expected to grow 368% YoY in FY26 from ₹2.6 Cr in the previous fiscal year, Arya told Inc42 earlier, adding that Yes Madam clocked in a profit of ₹1.8 Cr in FY25. The startup earns income mainly from three fronts — service commissions, product sales, and training fees. It is hinging further revenue growth on increase in sales of its private label products, including beauty devices, that are also used by its service providers. Going ahead, Yes Madam also plans to tap the GCC and Southeast Asian markets for furth
- Consumer & D2C1 day ago
AI Surveillance Inside Homes? How Pronto’s Home Recording Move Has Sparked A Raging Privacy Question
What happens when everyday household chores stop being just labour and start becoming training data for AI systems? And what does it mean for consumers if activities inside their homes are quietly helping train robots? These questions are now at the centre of a growing debate around India’s booming instant home services market, after quick service startup Pronto came under scrutiny for recording videos inside customers’ homes as part of a pilot linked to physical AI and robotics systems. At the centre of the controversy is a possibility many consumers had not thought about before — everyday household activities such as washing dishes, folding clothes, cleaning kitchens and organising homes could become valuable training data for AI-powered robots. The controversy first surfaced after Entrackr reported that Pronto was exploring ways to generate “real-world training data” for physical AI and robotics systems using footage captured during household chores. Investor documents reviewed by the publication stated that Pronto was “developing a data business leveraging its workforce to capture real-world household data for robotics labs” and was already “piloting real world training data with leading physical AI labs.” The report said Pronto’s service professionals were wearing outward-facing cameras while carrying out tasks such as washing dishes, folding laundry, cleaning homes and meal preparation. Pronto later confirmed the pilot, but stressed that it was “strictly opt-in,” enabled only when customers specifically chose the feature during booking. Further, the startup mentioned that the feature is currently limited to less than 0.01% of users. “Pronto does not, by default, record in customers’ homes, nor does it use customer data. We started the pilot you are referring to a few days ago. It is a strictly opt-in feature, available only to customers who actively choose it at the time of booking. The customers who have enrolled in the pilot programme pay for the featu
- Consumer & D2C1 day ago
Fairdeal.Market Bags $15 Mn To Scale Its B2B Quick Commerce Platform
B2B quick commerce platform Fairdeal.Market has raised $15 Mn (₹142.8 Cr) in its Series A round led by Bertelsmann India Investments (BII). The round also saw participation from WaterBridge Ventures and Incubate Asia Fund. The startup plans to use the fresh funds to scale its dark store operations, strengthen its retailer network and expand last-mile delivery capabilities. A chunk of the capital will also be utilised to bolster its tech stack and data infrastructure. In a statement, Fairdeal said that the funding will be utilised to accelerate its expansion into new metro cities across India and scale its retailer network to over 1 Lakh retailers during the ongoing fiscal year (FY27). Founded in 2022 by siblings Prateek and Yash Bansal, Fairdeal.Market is a B2B quick commerce platform that claims to deliver 1,000+ SKUs to small retailers across Delhi NCR within 60 minutes. In the last six months, Fairdeal claims to have scaled to over 20,000 active retailers in the national capital region. It also offers a full-stack offline distribution service to D2C brands. “… What Prateek and Yash understood early was that quick commerce in wholesale is not just about convenience; it fundamentally improves inventory turns, shelf efficiency, and replenishment reliability for kirana stores. They have been pioneers in bringing this approach to the category, and the early traction has been phenomenal. We are excited to partner with them on this ambitious journey,” said partner at BII, Rohit Sood. This comes nearly a year after the startup raised $3 Mn from Incubate Fund Asia and Waterbridge Ventures during its last fundraise in August 2025. Fairdeal.Market competes with the likes of HomeRun and Kiko Live in the B2B quick commerce space as well as names like Udaan, IndiaMART and Flipkart Wholesale in the broader Indian B2B ecommerce market. India is home to more than 13 Mn kirana stores across the country, offering a healthy market for players like Fairdeal to formalise the FMC
- Consumer & D2C1 day ago
Swiggy Signals Reattempt At IOCC Approval After Shareholder Pushback
About a week after failing to secure shareholder approval, listed foodtech major Swiggy has signalled that it is working “constructively with all its shareholders to address their concerns and achieve a positive outcome”. For context, Swiggy had sought shareholder approval to amend its Articles of Association (AoA) to become an Indian-Owned and Controlled Company (IOCC). However, the proposal failed after securing only 72.36% votes in favour, falling short of the 75% threshold required for special resolutions. The company said in an exchange filing today that becoming an IOCC remains an important long-term objective and is aligned with the direction taken by “comparable companies” in India. It added that the move is expected to create long-term shareholder value. For Swiggy, the transition holds strategic importance as becoming an IOCC would eventually allow it to move its quick commerce business, Instamart, towards an inventory-led model. Under India’s FDI regulations, foreign-owned ecommerce marketplaces cannot directly own inventory unless they qualify as Indian-owned and controlled entities. In the filing, Swiggy said it will continue engaging with shareholders and other stakeholders and will evaluate any future structural or strategic steps through “lawful, transparent and shareholder-aligned processes”. The company also sought to clarify that the proposed amendments were not aimed at strengthening founder control over the company. Under the proposal, cofounder and group CEO Sriharsha Majety would have gained the right to nominate one senior management professional to the board. A similar right was proposed for cofounder Phani Kishan Addepalli, subject to maintaining a qualifying economic interest in the company. Swiggy clarified that neither founder would have the right to appoint any external individual to the board. It also stressed that the amendments did not create veto rights, affirmative voting powers, permanent board seats, quorum rights, committee nomi
- Consumer & D2C1 day ago
Blinkit Commands 50% Of Indian Quick Commerce Market: Deepinder Goyal
Former Eternal CEO Deepinder Goyal said Blinkit holds a dominant position in India’s quick commerce market, accounting for nearly a 50% share in the rapidly growing segment. “We are 50% of the market. So let’s say we are roughly ₹180 Bn in terms of quarterly net order value [NOV]. Everyone else put together is also around the same,” Goyal told Financial Times in an interview. He added that Blinkit operates differently from competitors that are still focused on aggressive cash burn and discounting strategies. “The rest of the industry is in a burn-to-earn mode, where they are spending $2 Bn for $5-6 Bn worth of NOV. We don’t indulge in discounts, we don’t slash our delivery fee to zero. So we are actually making money,” Goyal said. On competition in the sector, including from Amazon, Goyal said he remains confident about the company’s position. “We also have deep pockets. If it comes to outspending Amazon, we can. But let’s leave that aside, nobody wants to go down that path,” he said, expressing confidence that Blinkit is well positioned to emerge as a winner in the segment. The remarks come amid intensifying competition in India’s quick commerce sector, with players such as Blinkit, IPO-bound Zepto, and Swiggy Instamart expanding aggressively and burning significant cash to capture a market expected to become a ~$40 Bn opportunity by 2030. Ecommerce giants Amazon and Flipkart are also ramping up investments in the space. Amazon is scaling its quick commerce service Amazon Now, which CEO Andy Jassy said is growing 25% MoM in India. Amazon Now plans to expand to 100 cities with over 1,000 micro-fulfilment centres. Flipkart, which plans to expand the dark store network for its quick commerce service Minutes to 250 cities by June 2026, is also reportedly working on a standalone app for the service. Meanwhile, Swiggy, which continues to be in losses, is looking to move to an inventory-led model, like Blinkit. However, its bid to become an Indian-Owned and Controlled Com
- Consumer & D2C1 day ago
Excitel Turns Profitable In FY26, Posts ₹560 Cr Revenue
Internet service provider (ISP) Excitel said it turned profitable in the financial year ended March 2026 (FY26). In a statement, the company said that it minted a profit after tax of ₹40 Cr during the year as it recalibrated its geographic reach and go-to-market strategies. It had reported a net loss of ₹70 Cr in FY25. The positive bottom line came despite the top line remaining largely flat during the fiscal year under review. According to the company, its operating revenue stood at ₹530 Cr in FY26 compared to ₹517 Cr in the previous fiscal year. However, what helped Excitel was improving margins as its EBITDA rose 2.5X YoY to ₹75 Cr during the fiscal under review. Excitel also said that its total expenses in FY26 stood at ₹460 Cr, with last-mile connectivity accounting for the biggest chunk of its costs at ₹200 Cr. Since the ISP partners with local cable providers for last-mile connectivity of its fibre network, it shares 38% of its revenue with these partners, leading to higher expenses on this front. Excitel CEO Varun Pasricha told Inc42 that the company spent around ₹100 Cr on manpower, while around ₹80 Cr was spent on network expansion. “The profitability came at the cost of not growing because actually we grew in the cities where we are, but we also removed the cities which did not make sense,” Pasricha added. Rethinking Geographic Expansion The financial turnaround came on the back of the company reining in its geographic footprint, as it shuttered operations in Mumbai as well as smaller towns and cities in North India. Excitel said it had already begun taking measures on this front around mid-2024, reversing an earlier aggressive expansion spree. Around the same time, Excitel said it also began to double down on making existing cities profitable , while also focusing more on eliminating waste, improving efficiencies, increasing automation in areas like customer relation management (CRM) and leveraging technology to increase output. This also meant that the
- Consumer & D2C1 day ago
FirstClub Nets $55 Mn To Expand Store Footprint, Widen Product Range
Months after closing its Series A funding round, quick commerce startup FirstClub has now raised $55 Mn (around ₹512 Cr) as a part of its Series B funding round co-led by Peak XV Partners and Sofina. Existing backers Accel, RTP Global and Paramark Ventures also participated in the round. FirstClub founder and CEO Ayyappan R told Inc42 that the fresh capital will be deployed in opening more stores across its Bengaluru and Hyderabad, along with expanding its footprint across other cities. FirstClub currently operates 24 stores, including three recently launched outlets in Hyderabad. Additionally, the startup also plans on setting up large warehouses to service these stores. A portion of the capital will also go in category expansion with focus on home and kitchen, utensils, general merchandise, and gifting over the next three months. Founded in 2024 by former Cleartrip CEO Ayyappan, FirstClub delivers premium products in categories including F&B, grocery, health and supplement, home and kitchen with a 20-25 minute delivery span. The platform went live in July 2025. The startup claims to be running regular tests on groceries and lab tests on everyday items such as milk, atta, paneer, dals, and more before listing it on the platform. In the past, FirstClub has been termed as a “ member-first quick commerce platform ”. However, the platform has not kicked started its members program yet. “We haven’t launched a membership programme yet, but that’s something we’ll be introducing soon. That said, the platform won’t be exclusive to members. Everyone will continue to have access. Our aim is to make the membership so compelling, with meaningful benefits and value, that signing up feels like a no-brainer for our customers,” Ayyappan told Inc42. What Goes Behind FirstClub’s Freshness Bet? The startup claims to be verifying the claims of the seller and then allowing the product into its warehouses. As per the founder, the product goes through multiple checks at the warehouse
- Consumer & D2C1 day ago
How ED’s Parimatch Probe Brought Zepto Into Focus
Update | June 6, 19:00 Quick commerce platform Zepto has denied any direct involvement in the ED’s probe against Parimatch, noting that it had no part in activities related to the banned online betting platform. In a statement, the startup noted: “Zepto has fully cooperated with the Enforcement Directorate and shared all information available to the company. The matter referenced relates to an advertisement placed (March 2025) through a third-party media agency arrangement for a merchandise entity. Zepto did not directly onboard, contract with, or manage the advertiser in question, and had no involvement in any betting, gaming, payments, user acquisition, or operational activity linked to the entity under investigation. Since the advertisement was managed externally, Zepto also connected the investigating team with the concerned agency to support any further inquiry. Any suggestion that Zepto had an operational role in the matter is incorrect.” Original | June 6, 11:30 The Enforcement Directorate asked IPO-bound quick commerce platform Zepto to join its investigation into alleged money laundering linked to Parimatch, a Cyprus-based betting platform banned in India. Citing sources, ET reported that the ED found that Zepto ran promotional campaigns on Parimatch, which was operating in India through mirror websites after facing a ban. Further, the agency allegedly discovered that Zepto circulated flyers with its customer orders promoting the betting platform. As per the report, the regulator questioned Zepto on whether it was aware of Parimatch’s credentials before it ran an advertising campaign for the betting platform. Notably, the information and broadcasting ministry issued an advisory in 2022 against promoting online gambling or betting through advertising campaigns. However, sources close to the startup told ET that Zepto was not the only quick commerce platform that ED reached out to in connection with the money laundering probe against Parimat
- Consumer & D2C1 day ago
Zepto Files UDRHP, Plans ₹8,010 Cr Fresh Issue
Quick commerce major Zepto has filed its updated draft red herring prospectus (UDRHP) with SEBI, weeks after getting the regulator’s go-ahead for its IPO. The proposed public offering will comprise a fresh issue of shares worth ₹8,010 Cr. The company plans to use the proceeds from the fresh issue for the following purpose: Dark Store Expansion: While ₹1,629 Cr has been set aside for setting up 1,904 dark stores till FY30, ₹1,734.9 Cr has been reserved for the lease payments of dark stores. Zepto operated 1,139 dark stores as of March 31, 2026. Tech & Cloud Infrastructure: Operating a digital platform serving about 4.8 Cr annual transacting users, Zepto sees its in-house technology stack as a critical lever to unlock additional cost efficiencies, expand margins and enhance scalability. It will invest ₹1,324.8 Cr from the net proceeds to enhance its tech stack over the next three fiscal years. Zepto Marketplace Investment: The quick commerce major plans to invest ₹520 Cr for marketing and promotion initiatives for its platform via the subsidiary. The remainder of the fresh proceeds will be used to undertake unidentified acquisitions for inorganic growth as well as general corporate purposes. Meanwhile, its investors intend to offload up to 11.35 Cr shares via the IPO. Nexus Venture Partners — via its two holding entities Nexus Ventures VI Holdings and Nexus Ventures VII Holdings — plans to offload the largest number of shares at 8.78 Cr. Meanwhile, Razor Capital is looking to sell 93.64 Lakh share and Contrary Capital is eyeing to offload 78.01 Lakh shares. The company’s promoters — Aadit Palicha, Kaivalya Vohra, Lazarus Trust and The Vohra Trust — won’t participate in the OFS. Zepto’s largest shareholder and promoter is Lazarus Trust, acting through its trustee and cofounder Aadit’s father Kavit Palicha, with a 9.03% stake in the company. The Vohra Trust, acting through Kaivalya’s father, holds a 7.48% equity stake. Cofounders Aadit and Ka
- Consumer & D2C1 day ago
The Wedding Company Nets $2.8 Mn To Bolster Its Wedding Services
Matrimony startup The Wedding Company has secured $2.75 Mn (₹26.3 Cr) in a seed funding round led by Wellingdon Advisors LLP. While existing investors LVX and Tremis Capital doubled down on their earlier bet, new investors Synergy Capital partner Apurva Patel, Vivek Mathur (ex-Elevation Capital) and Rahul Garg (ex-Premji Invest) also joined the startup’s cap table. With the fresh capital, The Wedding Company intends to penetrate India’s vast wedding market deeper by expanding its vendor partner network, build a robust category management function and strengthen its wedding services catalogue. “This fundraise validates our approach of combining technology with strong on-ground execution to deliver a superior and premium wedding planning experience,” cofounder and chief executive Pawan Gupta said. Since its inception three years ago, the startup has been working on building a name for itself by providing an end-to-end online platform that helps Indians simplify the cumbersome planning and execution of weddings. From venue booking, decor, and catering to photography and guest logistics, The Wedding Company claims to help people plan their wedding under their respective budgets. The startup has accrued a network of over 30,000 wedding venues and 2,000 vendors across India, where it has planned and executed over 1,000 wedding ceremonies. At $130 Bn, the Indian wedding market is the second largest in the world. The country sees roughly 8-10 Mn couples tie the knot every year. And, in line with the culture, an Indian wedding is typically seen as a grand affair. The startup bids to crack the vastly unorganised Indian wedding market with its tech-enabled approach. Till now, The Wedding Company has seemingly been successful in creating a niche in the bustling market. In a statement, the startup claims to have scaled service orders from ₹51 Cr in FY25 to ₹115 Cr in FY26, marking a 225% growth. Expecting to execute 1,500 new weddings in the ongoing fiscal, the wedding company i
- Consumer & D2C1 day ago
Zepto FY26: Loss Jumps 26% YoY To ₹5,905 Cr, Revenue Doubles
IPO-bound quick commerce major Zepto’s consolidated net loss jumped 26% during the financial year ended March 2026 (FY26) to ₹5,905 Cr from ₹4,695.4 Cr in the preceding fiscal year. As per the company’s updated DRHP filed yesterday , Zepto’s operating revenue more than doubled to ₹22,623.6 Cr during the year from ₹11,109.9 Cr in FY25. While it earned ₹17,587.9 Cr through the sale of goods, ₹5,022 Cr was earned through the sale of services, which included warehousing, packaging and last-mile charges, platform services, subscription fee, advertisement revenue, licence (IP) charges and franchisee fees. Including other income, Zepto’s total income during the year stood at ₹23,128.4 Cr. The quick commerce company’s adjusted EBITDA loss in FY26 rose 11.5% to ₹5,041.5 Cr from ₹4,521.7 Cr reported in FY25. Zepto lost ₹78.75 per order on an adjusted EBITDA basis in FY26, improving from ₹136.15 in FY25. Meanwhile, total expenses during the year stood at ₹29,026.7 Cr, a 79% jump from ₹16,241.1 reported in the prior fiscal year. Here’s a breakdown of the company’s expenses: Delivery & Handling: This expense more than doubled YoY to ₹3,046.3 Cr and jumped more than 5X from ₹580.8 Cr in FY24. Employee Costs: Employee benefit expenses zoomed 44% YoY to ₹1,784.7 Cr in FY26. Warehousing Costs: Expenses under this head jumped 56% to ₹2,150 Cr in FY26. This was also an increase of over 4X from ₹495.5 Cr in FY24. Other Expenses: The spending under this head zoomed 46% to ₹4,838.3 Cr from ₹3,317.5 Cr in FY25. The company accounted for warehousing costs under this head. In Q4 FY26, Zepto’s operating revenue rose 27% QoQ to ₹7,497.6 Cr while it managed to narrow net loss by 9% to ₹1,538.7 Cr. Adjusted EBITDA loss during the quarter stood at ₹1,248 Cr, a 29% improvement from ₹1,764 Cr in Q4 FY25. On a QoQ basis, adjusted EBITDA loss narrowed 5% from ₹1,308.7 Cr. Zepto lost ₹59.4 per order on an adjusted EBITDA basis in Q4 FY26, which was an improvement from ₹142.68 per order in Q4 FY25
- Consumer & D2C1 day ago
Glam On Demand: Making Sense Of The 15-Minute At-Home Beauty Boom
Forget quick commerce or instant househelp services — instant at-home beauty is looking like the next big thing in the Indian startup ecosystem. While Urban Company and Yes Madam already had a tight grip on this space, new players like Snabbit and even NoBroker are looking to break through after making headway in the instant help services vertical. Beauty services is undoubtedly a large market, but its primarily driven by unorganised and more affordable salons, competing against big brand chains such as Lakmé Salon, Naturals, Jawed Habib, Looks Salon, and Enrich, BBlunt, Toni & Guy, Geetanjali among others. The at-home beauty startups are looking to sit somewhere in the middle of these two distinct categories in terms of pricing. Their pitch is heavily reliant on convenience and speed of service delivery. Naturally, there’s a large consumer base for the likes of Urban Company or Yes Madam to target, but on-demand beauty is not just about the consumers. The other side of the marketplace is the 7–8 Mn unorganised beauty service providers, who are also being wooed by platforms with big incentives and high pay. To be clear, instant home beauty is not a new vertical. The new push is coming on the back of fresh investments in many of these companies branching into this space. But behind this new boom lies the age-old question: how will at-home beauty actually crack profitability? Even the instant househelp services vertical is not yet profitable, and it took Urban Company over 11 years to report its first full year of profitability in FY25. But it slipped into losses at the end of FY26 after investing aggressively in the instant househelp services. This reality runs against the grain of the bullishness of the likes of Snabbit, NoBroker and Yes Madam. But these are early days, so let’s see why India’s instant home beauty startups are feeling optimistic about the pattern breaking this time. Meet The Players Like we mentioned earlier, Urban Company and Yes Madam have bee
- Consumer & D2C1 day ago
Regulatory Issues Come Into Focus Ahead Of Zepto’s Mega IPO
Ahead of its IPO, quick commerce giant Zepto has taken multiple hits with a trail of ongoing cases against its operating practices over the years. Most recently, the Enforcement Directorate (ED) summoned Zepto’s cofounders Aadit Palicha and Kaivalya Vohra, on April 8, regarding the company’s ownership structure. The summons was issued as part of an inquiry under the Foreign Exchange Management Act, 1999 (FEMA), which regulates foreign investments, cross-border transactions, and foreign exchange dealings in India. Based on the company’s UDRHP, Kaivalya Vohra appeared before the ED on April 17 and April 22, while Aadit Palicha appeared on April 20 and May 15. Notably, reports from earlier this month said that the ED had found that Zepto ran promotional campaigns on Parimatch, which was operating in India through mirror websites after facing a ban. The company had denied any direct involvement in the ED’s probe against Parimatch, noting that it had no part in activities related to the banned online betting platform back then. On the other hand, Zepto has been slapped with penalties numerous times for complaints around dark pattern operations, foul product quality and hygiene issues in warehouses. Prominently, the CCPA last year highlighted that Zepto was using two types of dark patterns namely “drip pricing” and “basket sneaking”. In regards to these, the agency had slammed a penalty of ₹7 Lakh on December 4, 2025. Zepto appealed the order before the National Consumer Disputes Redressal Commission (NCDRC), and secured an interim stay on the penalty on January 20. Further, the CCPA also issued a show cause notice June 2025, to Zepto’s subsidiary Zepto Marketplace Pvt Ltd for alleged use of dark patterns namely “drip pricing” and “disguised advertisement” involving overcharging beyond maximum retail price, misleading advertisements, unfair trade practices and violation of consumer rights. The subsidiary responded that overcharging beyond MRP occurred owing to inadv
- Consumer & D2C2 days ago
Zepto DRHP: A Look At Shareholding Pattern & Key Executives
Amid a dry spell for startup IPOs in India, quick commerce major Zepto filed its updated draft red herring prospectus (UDRHP) with the markets regulator SEBI yesterday. While the 690-page-long IPO papers position the company as the fastest growing quick commerce player in India, with improvement in its bottom line while sustained revenue jumps over the past few fiscals, they also shed light on what’s happening behind the scenes. For one, Zepto’s cofounders, Aadit Palicha and Kaivalya Vohra, were summoned by the Enforcement Directorate (ED) just last month pertaining to information surrounding the company’s foreign investments, owned immovable properties, shareholding pattern, loans, guarantees, income tax records, bank accounts and other corporate records. The cofounders submitted the relevant information and documents sought under the Foreign Exchange Management Act, 1999 (FEMA), and said they have not received any further communication from the authorities since then. Zepto is perhaps one of the most funded Indian startups to have not gone public till now. It has raised over $2.4 Bn from marquee investors like Glade Brook Capital, General Catalyst, StepStone Group, among others. However, in the run up to the IPO, the company’s cap table saw some significant shifts last year. The draft IPO papers reveal that its early foreign backers sold Zepto’s shares worth more than ₹577 Cr to financial services giant Motilal Oswal in a secondary transaction in August 2025. As previously reported, Motilal Oswal Financial Services acquired shares of the startup in an all-cash deal. It has now come to light that US-based Kaiser Permanente and Dubai-based Razor Capital also offloaded shares last year. While the former sold 3.7 Cr shares, the latter sold nearly 61 Lakh shares. Nexus Venture Partners also sold 6.7 Cr shares to MOFSL at a price of ₹53.26 each. Notably, Zepto had been working to pare down its foreign shareholding . The quick commerce platform was said to be keen on boo
