From Swiggy’s shares taking a beating in morning markets to startups simplifying contracts, YourStory brings you today’s headlines that highlight significant developments across industries.
Featured News
How DOQFY simplfies contracts for businesses
While large corporations can afford Contract Lifecycle Management (CLM) solutions, mid-sized businesses struggle with high costs, legal complexities, and India’s varying stamp duty regulations. In such a scenario, DOQFY offers a cost-effective, automated, and compliant contract execution platform.
The Bengaluru-based B2B SaaS platform that streamlines contract creation, execution, and compliance. Designed to reduce manual inefficiencies, the platform automates key aspects of contract management, including e-stamping, digital signing, and compliance tracking.
Read more about the company’s platform here
Latest News
Swiggy shares go under IPO price after it reports Rs 800 crore loss
Swiggy’s shares fell 4% to Rs 400 per share on the Bombay Stock Exchange (BSE) after the company reported a widening loss of 39% year-on-year (YoY) in the third quarter. Prices hit a low of Rs 385 per share, before recovering and stabilising at Rs 400.
Swiggy’s Q3 FY25 results were mixed; while it showed strong growth in food delivery, it struggled in the quick commerce (Instamart) segment.
On a consolidated level, the foodtech company’s losses widened to Rs 799 crore from Rs 574 crore in the previous year. Swiggy clocked a 30% YoY growth in operating revenue to Rs 3,993 crore in the quarter ended December 2024, up from Rs 3,048 crore earned in the corresponding quarter last year, according to an exchange filing.
Funding News
Adar Poonawalla acquires 20% stake in auction house, AstaGuru
Premium auction house, AstaGuru announced it has sold 20% stake for strategic investment from the family office of Adar Poonawalla.
This investment will drive AstaGuru’s expansion in local and international markets across various verticals and categories. It aims to enhance the digital experience through a research-driven approach, leveraging AI to improve user engagement.
Fitspire raises $1 million in pre-series A from McDonalds India promoter
Nutrition and protein brand Fitspire has raised $1 million at a Rs 100 Cr+ valuation in a pre-series A round. The funding was led by McDonalds India (North and East) Promoter, Ananta Agarwal, MM Agrawal Group (MMG) along with angel investors.
The Delhi-based startup will use the capital infusion to strengthen its ecosystem, expand its market presence, build its brand, and develop new revenue streams.
In January, it raised funds from investors including the Jaipuria family office, LC Nueva Capital, Redcliffe Group’s Dheeraj Jain, Fluid Ventures’ Amit Singhal, Next 5 Ventures’ Ivor Braganza, and singer Sukhbir Singh.
PlaySuper raises $500k in seed fundraise
Gaming commerce company, PlaySuper has raised $500,000 in seed fundraise led by IAN Angel Fund and 100X.VC
The round also witnessed participation from angel investors including Uday Sodhi, KRS Jamwal, Pratham Mittal, Rajit Bhattacharya, and Ankit Das.
It plans to use the funds to fast-track its product development, expand market reach and strengthen hiring especially to grow its B2B team and product heads. It plans to expand into SEA within six months, followed by MENA and LATAM.
With key gaming studio partnerships in place, the company aims to make in-game commerce a mainstream revenue model. Over the next year, it will launch its in-game store, expand into new markets, and strengthen developer collaborations.
Other News
KRAFTON India and KukuFM together launch audiobook of BGMI: Lone Survivor
KRAFTON India and KukuFM have launched BGMI: Lone Survivor, the an audiobook adaptation of a video game IP in India.
The collaboration brings BATTLEGROUNDS MOBILE INDIA (BGMI) to a new audience. It merges dynamic storytelling of the game with audio, to offer an immersive new experience.
(The copy will be updated with the latest news throughout the day)
