The Arc

The Arc

2/16/2025, 12:00:57 PM

🚨 *Sirona founders are prepping to get their company & team back!*  Deep Bajaj and Mohit Bajaj are in the final stages of repurchasing the women’s wellness brand they cofounded from the Good Glamm Group. The unicorn completed the acquisition of Sirona for Rs 450 crore in an all-cash deal in October 2024. The deal is now pegged at Rs 160-180 crore. This is the second high-profile instance of founders moving to reclaim their company after a strategic sale. Earlier, the founders of consumer durables startup Lifelong got the venture back from brand aggregator Thrasio after the latter failed to uphold the deal terms because of cash flow constraints. The entrepreneurs behind Trase Footwear, a smaller brand, also bought back their company from Upscalio. Details: https://bit.ly/42SfEEO

The Arc

3/1/2025, 6:31:23 AM

🚨 *The walls are narrowing down on Byju’s* 🚨 US court says Byju’s defrauded investors 1️⃣ Byju’s is responsible for orchestrating and executing an unlawful scheme that defrauded the investors through the wrongful transfer of money, according to a ruling made by the United States Bankruptcy Court in Delaware in the long-running legal battle. 2️⃣ The judgment has come against Byju’s parent company, Think & Learn Private Limited, director Riju Raveendran, the US arm of Byju’s Alpha and Camshaft Capital (where funds were transferred). Damages related to the ruling are expected to be awarded later in the case by term loan B (TLB) lenders, who gave $1.2 billion to Byju’s in 2022. Sequence of events: https://bit.ly/3XjKB15

The Arc

2/7/2025, 2:18:14 PM

🔻 *Poor Q3 numbers from Ola Electric*🔻 ▪️Losses widened by 50% to Rs 564 crore ▪️Revenue fell 19% to Rs 1069 crore EBITDA margin deteriorated to negative 40.7% from negative 19.5%. Reasons: https://bit.ly/413g5uD The company’s shares now trade below the IPO price.

The Arc

2/14/2025, 2:39:16 PM

🚨 Sachin Bansal will now take the chairman role at his fintech company Navi 🎩 Lawyer Rajiv Naresh has been made CEO of holding co Navi Technologies. Abhishek Dwivedi will be the new CEO of Navi Finserv, the NBFC unit. But its head of lending has quit. https://bit.ly/42VioB6

The Arc

2/10/2025, 2:32:24 PM

🚨 Quick commerce wars have wiped out $10 bn from Zomato, Swiggy’s market cap! https://bit.ly/3EwgVr0

The Arc

2/5/2025, 4:53:54 PM

🚨 *Weak Q3 performance by Swiggy* 🚨 Net loss widened to Rs 800 crore in the December quarter (Q3 FY25), up from Rs 574 crore a year ago, driven by continued losses in its quick commerce segment. Advertising and sales promotion expenses saw the steepest rise, increasing by 65% to Rs 751 crore in December 2024. Sequentially too, it rose 40%. But after the investor call, what left analysts concerned was Swiggy’s lack of clarity around its profitability guidance for quick commerce. Remember, Zomato's stock fell 10% two week ago, when it guided that it will prioritise growth over EBITDA for Blinkit in the near term. Read details: https://bit.ly/4jECPZf

The Arc

2/5/2025, 7:18:25 AM

🚨*JUST IN: Cashfree Payments raises $53 million from Krafton, Apis Growth Fund* ⚡Payment aggregator Cashfree Payments has raised $53 million (Rs 450 crore) in a Series C round led by South Korean mobile game provider Krafton’s investment arm, and existing investor Apis Growth Fund II. ⚡The latest funding round has valued Cashfree Payments at $700 million. This is nearly 3.5 times its previous valuation a year ago of $208 million, according to market intelligence platform Tracxn. ⚡Cashfree Payments plans to deploy a chunk of the new equity funds for overseas expansion: the United Arab Emirates market. In November 2021, it had acquired Telr in the UAE for $15 million. For more details, check out The Arc bulletin report - https://bit.ly/3Q6VUWm

The Arc

2/11/2025, 8:56:26 AM

🚨 Peak XV (formerly Sequoia India) Managing Directors Shailesh Lakhani and Abheek Anand are leaving the venture fund. This marks the first top-level exit from Peak XV’s investment team since its spin-off from Sequoia in 2023. https://bit.ly/4jTkjMz

The Arc

2/5/2025, 5:42:02 AM

*WeWork India valued at $1.5 billion ahead of IPO* Bengaluru-based property group Embassy Buildcon has raised its shareholding in coworking venture WeWork India from 68.8% to 73.8%.   Embassy invested Rs 501 crore ($58 million) through a rights issue, which pegged IPO-bound WeWork India’s valuation at Rs 12,665 crore ($1.46 billion).    The point to note here is that promoter shareholders have set the valuation and not an external investor.  https://www.thearcweb.com/article/wework-india-embassy-co-working-ipo-TpB32Zhf4bDgH1VS

The Arc

2/5/2025, 6:15:49 AM

*Kunal Shah, Cred to invest $63 mn in NBFC as loan portfolio grows* Fintech unicorn Cred and its founder, Kunal Shah, have moved to invest Rs 550 crore ($63 million) in non-banking financial company Newtap Finance, which is scaling up its portfolio of unsecured loans. Shah owns 76% of the NBFC through Newtap Technologies and Cred the remaining 24%. Newtap Finance has already raised Rs 149 crore in equity funding from the two backers, and the plan for the fresh investment is awaiting regulatory approval. *Cred has reached assets under management, or a loan portfolio, of Rs 19,000 crore ($2.2 billion) as of December 2024.* https://www.thearcweb.com/article/kunal-shah-cred-nbfc-newtap-loan-profit-loss-6kUujf4MjHBNgso0