Hello,
In the quick commerce race, Reliance Retail might’ve backed the wrong horse.
The company has written off a $200 million investment in Dunzo, as the hyperlocal startup battles cash crunch woes and high-profile exits amid a gradual retreat from the quick commerce roster over the years.
Reliance, which holds a 25.8% stake in Dunzo from its investment in January 2022, is no longer involved in any discussions regarding additional funding or a distress sale.
Dunzo’s co-founder Kabeer Biswas is reportedly in talks with high-net-worth individuals and family offices for an acquisition deal, although how the future of those talks plays out remains to be seen, especially considering Biswas’ recent resignation from the company.
In the cutthroat world of quick commerce, fortune favours the bold…or the well funded. Case in point: Swiggy’s Instamart, or Zepto, which is on track for its planned 2025 IPO and is aiming to file its draft prospectus by March-April.
Money does run the world, and Microsoft has the moolah to back up its AI ambitions in 2025, with plans to invest about $80 billion in fiscal 2025 on developing data centers to train AI models and deploy AI and cloud applications.
And so the bubble continues to boom. According to data from financial tracker PitchBook, GenAI companies worldwide raised a whopping $56 billion from VCs in 2024 across 885 deals.
It’s a new year, and the bots are here to stay.
In today’s newsletter, we will talk about
- A gastro guide through Abu Dhabi
- Different faces of the daily cuppa
- Pioneering waste entrepreneurship
Here’s your trivia for today: What European city hosts an annual wine-throwing festival?
Wine and Food
A gastro guide through Abu Dhabi
With so many expats making Abu Dhabi their home away from home, the city offers cuisines from around the world among other traditional Emirati and Arabic foods.
While the internet is filled with recommendations on where to eat in the city, finding one’s way through the maze can be tough. But if you know where to look, the journey through Abu Dhabi’s food scene can be incredibly rewarding–with something on offer for everyone.
Tradition and multiculturalism:
- Located in the city’s heart, within the Al Hosn cultural area, Erth exudes Emirati warmth and hospitality, with offerings ranging from Emirati ghee chicken salona served with chami cheese naan and Emirati spiced Hasselback potatoes to its signature El Ferni, liwa date sphere batheeta and luqaimat.
- Meanwhile, Fouquet’s blends classic French cuisine with international flavours. From roasted corn-fed chicken breast served with mashed potato and pan-fried Omani prawns with satay sauce to exceptional desserts like fresh exotic fruit pavlova with coriander, there is something on offer for every foodie.
- One cannot conclude a trip to Abu Dhabi without paying a visit to the local bakeries and sweet shops with their mouth watering assortment: several varieties of the flakiest baklavas; kanafeh; basbousa, a delicate semolina cake soaked in syrup; cream rolls, cakes and biscuits.
Wine and Food
Different faces of the daily cuppa
Over the last few years, there has been a shift towards coffee drinking in India, especially in urban areas due to higher disposable incomes, the influence of social media, and, of course, the availability of specialty coffee brands.
Between premium offerings and specialty varieties, personalised brews, focus on sustainability and a growing homebrewing community, YS Life looks at what defined the coffee market in 2024, and what is still to come.
Predictions:
- Coffee consumers became more conscious of the environmental and social impact of their coffee consumption in 2024. This drove the demand for sustainably grown, ethically-sourced coffee with fair trade certifications and eco-friendly packaging, a trend which is set to remain in vogue for 2025.
- Through advancements in AI and coffee apps, consumers will now enjoy tailored recommendations that align with their unique flavour preferences, brewing habits, and even their mood, predicts Shiv Dhawan, Co-founder, FirstCoffee. Additionally, there will be an increased emphasis on creating and hosting community-based events and fostering connections among customers.
- Amid a growing preference for cold beverages, innovations like nitrogen-infused variants and unique brewing techniques helped to deliver bold, refreshing coffee experiences in 2024. Cold brews and iced coffee creations have cinched their place as a mainstream favourite, especially among younger customers.
Inspiration
Pioneering waste entrepreneurship
From sifting through garbage to survive to standing tall today as a waste entrepreneur employing 15 people, Krishna’s story is nothing short of extraordinary.
According to him, there are more than 4.25 lakh waste pickers in Karnataka, with 25,000 families in Bengaluru depending on dry waste collection alone. Krishna has tirelessly rallied his community in the city and the state, fighting for their rights and dignity, in an attempt to break generational cycles of discrimination.
Fight for dignity:
- When he was just 21 years old, Krishna attended a large gathering of waste pickers at Jantar Mantar in New Delhi, where he understood that he was not alone in his fight for rights and respect for labour. Eleven years ago, the formation of Hasiru Dala, a social impact organisation dedicated to ensure justice for waste pickers, proved to be another turning point.
- In 2017, Krishna signed a direct MoU with the BBMP to run a dry waste collection centre in Domlur. Today, the centre collects 3 tonnes of dry waste in a day and has a team of 15 people, most of them women, who are paid from the income from the sale of the segregated waste.
- To make textile waste collection more structured and viable, Krishna works as a waste collector for reTex, a venture by Enviu. He is supported by Hasiru Dala and Saamuhika Shakti, a collective impact initiative that brings together 12 partner organisations to help waste pickers in Bengaluru lead a secure and dignified life.
News & updates
- Appeal: The U.S. Department of Justice asked the Supreme Court late on Friday to reject President-elect Donald Trump’s request to delay implementation of a law that would ban popular social media app TikTok or force its sale by Jan. 19.
- Caution: Shares of drinks makers fell after the US surgeon-general said alcoholic beverages should carry a warning to boost awareness about their link to cancer.
What European city hosts an annual wine-throwing festival?
Answer: Haro, in the La Rioja region of Spain.
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