StartupSuperb

Category: News

  • Swiggy Aims for Profitability by FY26 Fueled by Instamart Expansion

    Swiggy Aims for Profitability by FY26 Fueled by Instamart Expansion



    Swiggy’s Path to Profitability: Instamart’s Role in Quick Commerce

    Swiggy’s Path to Profitability with Instamart in Quick Commerce

    Swiggy is aiming for overall profitability between December 2025 and June 2026, with its quick commerce branch, Instamart, playing a crucial role in this turnaround. This objective was outlined during the Q1 FY26 earnings call with market analysts and investors.

    Instamart’s Growth in Quick Commerce

    Instamart has shown substantial growth, with Gross Order Value (GOV) more than doubling at 108% year-on-year. The average order value (AOV) also saw significant increases of 26% year-on-year and 16% quarter-on-quarter, exceeding expectations. This success has been attributed to the effective basket-building initiative known as Maxxsaver, which encourages customers to make larger purchases.

    Improvements in Contribution Margins

    Swiggy’s Chief Financial Officer, Rahul Bothra, confirmed that contribution losses for Instamart reached their peak in previous quarters, and there has been an improvement in contribution margins by 100 basis points sequentially. The expectation for even greater improvements in Q2 FY26 was communicated. Bothra stated, “We stay committed to our goal of achieving contribution margin neutrality between the December and June quarters of 2026.”

    Expansion and Operational Focus

    Despite the rapid growth of Instamart, Swiggy expanded its network significantly, adding over 316 stores in Q4 FY25. The company believes its existing network of 4.3 million sq. ft. is adequate to support 100% growth without needing major new additions. The focus will now shift towards enhancing operations in current locations instead of expanding into new cities.

    Shifts in Product Offerings

    Interestingly, the non-grocery selections on Instamart, which accounted for 6.6% of the total mix a year ago, now contribute 18.5%, indicating strong interest in higher-ticket items. Although increased delivery costs and marketing expenditures slightly affected margin gains, optimism about long-term monetization through seller commissions and advertising remains high.

    Food Delivery Growth Amidst Competition

    While Instamart took the lead in discussions, Swiggy’s food delivery sector also reported a healthy 18.8% year-on-year GOV growth. The company claims to maintain the best service time in the industry, with initiatives such as Swiggy Bolt (its 10-minute delivery model) accounting for over 10% of order volume. Continuous investments in Bolt and SNACC, its experimental cloud kitchen brand, are ongoing, though losses in the “platform innovations” segment increased during the quarter.

    Strong Cash Reserves

    In terms of cash flow, Swiggy has reserves of Rs 5,500 crore, which allows the company to avoid needing an equity raise. An exit from its stake in Rapido has been hinted at due to competition overlaps in the food delivery sector.

    Management’s Confidence in Quick Commerce

    Despite the growing competitive landscape, particularly in quick commerce, management remains confident. Chief Executive Sriharsha Majety highlighted that the speed of delivery and customer experience at Swiggy are strong and that there is no need to match competitors on store density if it does not impact service quality.

    A Balanced Strategy for the Future

    With a balanced approach towards consolidation, monetization, and careful reinvestment, Swiggy is optimistic that Instamart’s momentum will propel the company into profitability in FY26.


  • Tracxn Reports 12% Decline in Q1 FY26 Profits; Revenue Stays Steady

    Tracxn Reports 12% Decline in Q1 FY26 Profits; Revenue Stays Steady


    Tracxn Financial Results for Q1 FY26

    Data and research platform Tracxn has revealed its financial outcomes for the first quarter of the current fiscal year (Q1 FY26) on Thursday. The company’s revenue experienced a slight growth of 3.4% during this period, while profits witnessed a decline of 12.6%.

    The revenue from operations for Tracxn rose by 3.4% to Rs 21.2 crore in Q1 FY26, compared to Rs 20.5 crore in the same quarter of the previous fiscal year (Q1 FY25), as per the financial statements obtained from the National Stock Exchange (NSE).

    When compared quarter-on-quarter, Tracxn’s operating revenue remained stable at Rs 21.2 crore in Q1 FY26, aligning closely with Rs 21.14 crore reported in Q4 FY25.

    The entire operating revenue for Tracxn was derived from subscription sales, which provide access to its data and software. Nevertheless, the Bengaluru-based company did not disclose a detailed revenue breakdown for the reported quarter.

    Additionally, Tracxn generated Rs 1.68 crore from non-operating sources, bringing its total revenue to Rs 22.88 crore in the first quarter.

    Employee benefits emerged as the primary cost centre for Tracxn, making up 88% of the total expenditure. This expense has risen by 7% year-on-year, increasing to Rs 18.95 crore in Q1 FY26 from Rs 17.67 crore in Q1 FY25. Overall, Tracxn’s total costs expanded by roughly 6%, reaching Rs 21.43 crore in Q1 FY26.

    The company’s profit after tax has dropped to Rs 1.11 crore in Q1 FY26 from Rs 1.27 crore in Q1 FY25. However, Tracxn reported a profit before tax amounting to Rs 1.45 crore.

    As of the end of Thursday’s trading session, Tracxn’s share price was at Rs 56.24, reflecting a market capitalization of Rs 604 crore ($69 million).

  • Nuuk Secures Million Investment from Vertex Ventures SEA and Good Capital

    Nuuk Secures $2 Million Investment from Vertex Ventures SEA and Good Capital



    Nuuk Secures Over $2 Million in Funding for Home Appliances

    Nuuk Secures Over $2 Million in Funding for Home Appliances

    Home appliance brand Nuuk has successfully raised over $2 million (approximately Rs 19 crore) in a follow-on funding round led by Vertex Ventures SEA and Good Capital, both of which also participated in the company’s previous Series A funding round in February 2025.

    This investment elevates Nuuk’s total funding to over $10 million (~Rs 90 crore). Earlier in March this year, Nuuk secured $5 million (Rs 40 crore) in a Series A funding round, also led by Vertex Ventures SEAI.

    The funds will be utilised to enhance its made-in-India supply chain, strengthen its brand presence, and further product development.

    About Nuuk

    Founded by Gazal Kalra and Shalabh Gupta, Nuuk is a direct-to-consumer (D2C) home appliance brand that focuses on designing and selling high-performance, aesthetically pleasing appliances aimed at urban Indian consumers.

    Design-First Approach

    Nuuk employs a design-first product development methodology, with an emphasis on addressing real-world challenges through human-centric engineering. The company manufactures its products in India and markets them online, offering a diverse array of kitchen and home appliances tailored to modern households.

    Full-Stack Model

    Nuuk operates on a full-stack model that includes in-house product design, controlled supply chains, and direct online sales. This model helps the company distinguish itself from traditional brands and imported appliances.


  • NPrep Secures Pre-Seed Funding Round Led by All In Capital to Enhance Job Placement Services

    NPrep Secures Pre-Seed Funding Round Led by All In Capital to Enhance Job Placement Services


    NPrep Announces Funding Round to Enhance AI-Powered Skilling for Nursing Students

    NPrep, a company focused on placements, is developing an AI-driven skilling platform specifically for nursing students and professionals. The company has secured an undisclosed amount in a pre-seed funding round led by All In Capital, with contributions from IIMA Ventures, Chegg’s founder Aayush Phumbhra, as well as various family offices and angel investors.

    The funding will be used to expand course offerings, enhance AI-based learning platforms, and strengthen placement partnerships with hospitals and healthcare institutions throughout India, as stated by NPrep in a press release.

    Background of NPrep and Its Vision

    NPrep was co-founded in 2024 by Prince Kaushik, Utkarsh Paliwal, Gourav, and Shrey Gupta. The startup’s mission is to break down the barriers faced by students from tier II and tier III cities by providing a tailored AI-powered skilling and placement platform aimed at the unique needs of nursing students and professionals.

    Support Services Offered by NPrep

    According to NPrep, the platform will assist students with mock interviews, resume building, and automated assessment tools designed to enhance job readiness. The platform currently boasts over 2 million learners each month and has expanded its user base to 40,000 students within the last six months.

    Future Expansion Plans

    The company aims to broaden its placement services domestically in FY26 and expand internationally by FY27, building upon its expertise in medical and technological fields.

  • MangoPoint Secures Million in Pre-Series A Funding, Led by IPV

    MangoPoint Secures $1 Million in Pre-Series A Funding, Led by IPV


    MangoPoint Secures Funding to Boost Agritech Exports

    Chennai-based agritech exporter MangoPoint has successfully raised $1 million in a pre-Series A funding round that was led by Inflection Point Ventures (IPV). This round also saw contributions from The Chennai Angels, Native Angel Network, Keiretsu Forum India, Fondation Botnar, IIM-CAN, Metis Family Office, and JITO Incubation and Innovation Foundation.

    The capital injection will enable MangoPoint to enhance its infrastructure, enter new markets, improve backend operations, and expand its range of products.

    MangoPoint’s Journey and Mission

    Founded in 2018 by Manjula Gandhi Rooban and Prasanna Venkatarathnam, MangoPoint positions itself as a premium exporter of chemical-free, single-origin Indian mangoes and processed mango products. Its primary markets include North America and Europe.

    Annual Mango Exports and Future Goals

    The startup currently manages over 2,000 metric tonnes of mangoes each year and has ambitious plans to scale this amount tenfold to 20,000 MT in the next few years. MangoPoint boasts packhouses recognised by APEDA and NPPO, as well as FDA approval for exporting to significant international markets.

    Market Potential for Mango Products

    According to market research, the global mango industry is valued at $60 billion, with India contributing a substantial $20 billion. The sector is experiencing growth at a rate between 4.9% and 8% CAGR.

  • Aukera’s Valuation Skyrockets Over 4.5 Times in Series B Funding Round

    Aukera’s Valuation Skyrockets Over 4.5 Times in Series B Funding Round


    Aukera Secures $15 Million in Series B Funding for Lab-Grown Diamond Jewellery

    Lab-grown diamond jewellery brand Aukera has recently completed a successful Series B funding round, securing $15 million. This round was led by Peak XV Partners, with notable contributions from existing investors such as Fireside Ventures, Sparrow Capital, Prath Ventures, and Alteria Capital.

    While specific details regarding the company’s valuation and dilution were not publicised, Startup Superb’s review of regulatory filings provided insights into the round-wise breakdown and shareholding structure.

    The board of Aukera Jewellery issued 988,129 preference shares at an issue price of Rs 1,250.3 each, resulting in a total raise of Rs 124 crore (approximately $15 million), as reported in their filing with the Registrar of Companies (RoC).

    Peak XV Partners led the funding round with an investment of Rs 90.6 crore, while existing investor Fireside Ventures contributed Rs 23.7 crore. Additional amounts came from Sparrow Capital, Prath Ventures (through the Eternal Emerging Enterprise Fund), and Alteria Capital.

    According to estimates from Startup Superb, the brand’s post-money valuation has increased over 4.5 times to reach Rs 604 crore (around $71 million), which is a significant rise from Rs 124 crore ($15 million) when the company previously raised $3.2 million in August of the previous year.

    As reported by various sources, the Bengaluru-based startup has raised a total of approximately $19 million through multiple funding rounds. Following this latest round, Fireside Ventures emerges as the largest external shareholder with a 19.1% stake, while new investor Peak XV holds a 15% interest. Co-founders Lisa Mukhedkar and Kumar Saurabh each maintain a 24.1% ownership in the company.

    Aukera: A Women-Centric Lab-Grown Diamond Jewellery Brand

    Founded in 2023, Aukera focuses on women’s jewellery, offering a range of high-quality lab-grown diamond products such as rings, pendants, bracelets, and necklaces. The company operates through both online and offline platforms, currently running 13 stores across major cities including Bengaluru, Delhi NCR, and Hyderabad.

    Financial Performance and Strategic Positioning

    In its inaugural year of operations (FY24), Aukera reported operating revenue of Rs 5.2 crore, alongside a net loss of Rs 2.85 crore.

    Aukera is positioned within a competitive landscape of lab-grown diamond jewellery startups that have recently captured investor interest. Competitors include Priyanka Gill’s COLUXE, which has secured angel funding; Jewelbox, which raised $3.2 million; and GIVA, supported by Aditya Birla, with Rs 530 crore raised, also offering a line of lab-grown diamonds. Other noteworthy players in this market include Fiona Diamonds, Palmonas, and Limelight Diamonds.

  • RENÉE Cosmetics Secures Million in Series C Round, Valuation Hits 0 Million

    RENÉE Cosmetics Secures $30 Million in Series C Round, Valuation Hits $200 Million



    RENÉE Cosmetics Raises $30 Million in Series C Funding

    RENÉE Cosmetics Secures $30 Million in Series C Funding

    RENÉE Cosmetics, a direct to consumer beauty brand, has successfully raised $30 million in its Series C funding round, led by Playbook with secondary investments from Midas. This recent funding round values RENÉE at $200 million, marking a 1.4X increase from its $12 million extended Series B round, which was reported last June by Startup Superb.

    While additional details regarding the secondary transaction have not been disclosed, this funding will be pivotal for RENÉE Cosmetics.

    Expansion Plans with New Capital

    With a robust portfolio of over 200 SKUs, RENÉE Cosmetic’s strategy involves using this new capital to broaden its product offerings. The brand aims to enhance its omnichannel presence in tier I and tier II cities, while also investing in technology and marketing strategies to fortify brand awareness.

    About RENÉE Cosmetics

    Founded by Aashka Goradia Goble in partnership with Beardo co-founders Priyank Shah and Ashutosh Valani, RENÉE Cosmetics offers a variety of products, including eye makeup, lip colours, skin serums, and highlighters. The brand can be found on various third-party e-commerce and quick commerce platforms and is present in over 15,000 outlets throughout India.

    Global Expansion Efforts

    In its pursuit of global growth, RENÉE is testing an online presence in regions such as the US, UAE, and Australia.

    Strategic Growth and Revenue Goals

    According to Ashutosh Valani, Co-founder of RENÉE Cosmetics, this funding provides the brand with the necessary resources to amplify their marketing engine and manage consumer acquisition more effectively. With an annual revenue run rate (ARR) of Rs 500 crore, the brand is optimistic about achieving Rs 1,000 crore in revenue within the next two years.

    Investment History

    To date, RENÉE Cosmetics has secured approximately $76 million from various investors, including Evolvence India, Edelweiss Group, Equanimity Ventures, and 100Unicorns.

    Financial Performance

    For the fiscal year set to end in March 2024, RENÉE Cosmetics reported a significant revenue boost, reaching Rs 191.65 crore, compared to Rs 97.15 crore in FY23. However, losses increased by 88.2%, totalling Rs 61.45 crore during this time.

    Although the company has yet to submit their annual report for FY25, RENÉE asserts it has experienced nearly threefold growth over the last 18 months, attributing this to strong customer engagement, expansion into multiple channels, and innovative product launches.


  • Kalaari and Iron Pillar Divest Bluestone Stakes Valued at ₹443 Crore in 2024

    Kalaari and Iron Pillar Divest Bluestone Stakes Valued at ₹443 Crore in 2024



    Bluestone Jewellery and Lifestyle Announces Secondary Share Transactions and IPO Plans

    Bluestone Jewellery and Lifestyle Facilitates Secondary Share Transactions

    Bluestone Jewellery and Lifestyle has facilitated secondary share transactions amounting to Rs 443 crore between February and September 2024. This has allowed early investors to partially exit while new institutional funds can enter in anticipation of the forthcoming IPO, as stated in the Red Herring Prospectus (RHP).

    Key Stake Transfers Involving Institutional Investors

    Iron Pillar Fund and Kalaari Capital divested portions of their stakes to 360 One, Peak XV, and Steadview Capital through off-market agreements. In February 2024, Iron Pillar sold 3.26 lakh shares to 360 One Large Value Fund for Rs 103 crore, establishing a share price of Rs 3,149 for Bluestone. Later, in September, Kalaari executed two consecutive secondary sales. On September 02, it transferred 4.07 lakh shares to Peak XV Partners for Rs 220 crore. Subsequently, on September 26, it sold 2.22 lakh shares to Steadview Capital for Rs 120 crore. Both transactions were priced at Rs 5,403 per share.

    IPO Valuation and Size Adjustments

    These secondary transactions were previously disclosed in the company’s Draft Red Herring Prospectus (DRHP) filed in December 2024. Bluestone is now aiming for a valuation of approximately Rs 7,800 crore in its upcoming initial public offering. In the revised RHP, Bluestone adjusted its IPO size, lowering the fresh issue from Rs 1,000 crore to Rs 820 crore, and reducing the Offer for Sale from 2.4 crore shares to 1.39 crore shares.

    Investors Participating in the Public Offer

    Investors such as Accel, Saama Capital, Kalaari Capital, Iron Pillar, and Sunil Kant Munjal (Hero Enterprise) are set to partially exit through this public offer. The company, founded in 2011 by Gaurav Singh Kushwaha, currently operates 275 retail outlets across more than 80 cities and reported a revenue of Rs 1,770 crore for FY25, marking a significant 40% year-on-year increase. However, its losses expanded by 56%, reaching Rs 218 crore. The IPO is set to launch on August 11, with anchor bidding commencing on August 8. Axis Capital, Kotak Mahindra Capital, and IIFL Capital are managing the issue.


  • Xovian Aerospace Secures .5 Million in Financing from Piper Serica and TurboStart

    Xovian Aerospace Secures $2.5 Million in Financing from Piper Serica and TurboStart


    Xovian Aerospace Successfully Secures $2.5 Million in Pre-Seed Funding

    Spacetech startup Xovian Aerospace has successfully secured $2.5 million in a pre-seed funding round, with backing from Piper Serica and TurboStart, alongside contributions from Inflection Point Ventures (IPV) and Eaglewings Ventures.

    The funding will be allocated towards the development of AI-native radio frequency (RF) satellite infrastructure and to facilitate space trials expected by the end of the year.

    Xovian’s Innovative RF Nanosatellite Constellation

    Xovian is in the process of constructing a constellation of RF nanosatellites, which provide real-time signal intelligence by capturing and decoding dynamic signals. This approach stands in contrast to traditional satellites that depend solely on optical data.

    Industry Applications of Xovian’s Platform

    The platform caters to a variety of sectors, including maritime, aviation, defence, oil and gas, and weather forecasting, by delivering continuous RF data integrated with AI-driven decision intelligence.

    Expansion Plans and Insights

    With discussions for pilot projects ongoing in Southeast Asia and the Middle East, Xovian’s vertically integrated model promises low-latency, high-fidelity insights, asserting that it can generate up to six times more data value per dollar compared to conventional systems.

    The Growing Spacetech Landscape

    Data from various intelligence platforms indicate that over a dozen spacetech startups have raised approximately $21 million in 2025. Some notable companies include OrbitAid, InspeCity, and Sisir Radar, among others.

  • Outzidr Secures .1 Million Funding Round Led by RTP Global

    Outzidr Secures $3.1 Million Funding Round Led by RTP Global

    “`html

    Outzidr Secures Rs 27 Crore in Pre-Series A Funding to Expand Fashion Brand for Gen Z Women

    Outzidr, a fashion label tailored for Generation Z women, has successfully raised Rs 27 crore (approximately $3.1 million) in a pre-Series A funding round. This investment was led by RTP Global, with the involvement of existing investor Stellaris Venture Partners.

    The Bengaluru-based company had previously garnered Rs 30 crore (around $3.5 million) during its seed funding round, which was also spearheaded by Stellaris Venture Partners alongside a group of strategic angel investors.

    The funds acquired will support the upcoming phase of growth, which includes launching its first exclusive offline store by March 2026 and expanding its design, operations, and technology teams, according to Outzidr’s press release.

    About Outzidr

    Founded in 2024 by Nirmal Jain, Mani Kant Mani, and Justin Mario, Outzidr operates as a digital-first fashion brand that provides trendy western attire for Indian women aged 18 to 28. The brand caters to the modern woman for various occasions, including brunches, date nights, music events, college fests, airport trips, and spontaneous weekend escapes.

    Innovative Business Model

    Outzidr utilises a test and scale model, allowing the brand to pilot small batches and focus on its bestsellers. According to the company, it introduces up to 2,000 new styles each month—equating to about 500 styles per week—via its own D2C platform as well as prominent marketplaces like Ajio, Myntra, and Nykaa Fashion.

    Mission and Vision

    “Outzidr exemplifies the vibrancy of a new generation—quick, innovative, and unafraid,” mentioned Nirmal Jain, Co-founder and CEO of Outzidr. “The brand is committed to listening, learning, and adjusting in real-time. This funding is a powerful endorsement of our mission to become the go-to fashion option for Gen Z women, as well as a testament to the remarkable team and prospect we are building.”

    Market Insights

    Market analysis shows that India’s fast fashion sector is currently valued at around $10 billion and is expected to soar past $50 billion by FY 31, with a projected compound annual growth rate (CAGR) of approximately 30%.

    In just five months, Outzidr claims to have amassed over 100,000 customers, achieved a retention rate of 1.5 times, and rolled out more than 8,000 styles on its platform. The brand primarily competes with notable players in the industry such as NEWME, Zudio, and Style Union.

    “`