Anuj Rathi and Prashant Parashar launched Profound, an AI representative platform, after securing $1.5M from Stellaris, 3one4 Capital and angel investors including Swiggy and Cred executives.
Walmart-owned Flipkart plans to launch a pilot for online food delivery in India within 30 days, aiming to challenge market leaders Zomato and Swiggy. The company will learn from the pilot before a wider national rollout, believing a strong value proposition can disrupt the market.
Swiggy's Food on Train service achieved threefold year-on-year growth in Q1 FY27, expanding to over 180 cities. The service saw a surge in multi-station orders and attracted new users in smaller towns, with rotis and summer beverages being popular choices.
Swiggy's shares rose over 7% after the company announced its domestic ownership has surpassed 50%. This development, while not immediately changing control, is crucial for its quick commerce arm, Instamart, to potentially gain direct inventory ownership.
Swiggy's foreign investment has fallen below 50%, potentially allowing its quick commerce arm Instamart to own inventory directly. This could improve margins and supply chain control, a status previously blocked by shareholders.
