The Indian startup ecosystem has continued showcasing resilience and adaptability equipped with companies in a good number making significant moves this week. Food delivery giant Zomato opened its ₹8,500 crore Qualified Institutional Placement (QIP) offering. Floor price is set at ₹265.91 per equity share while indicative price of ₹252.62 represents a 7.6% discount on its last closing price of ₹272.90. About 33.65 crore shares are on offer and it means 3.8% equity of the company. CEO Deepinder Goyal extended his ₹3.5 crore salary waiver until FY26. It is a continued pledge that he made in FY21 to forgo his salary for 36 months.
ShareChat social media platform made remarkable progress by reducing adjusted EBITDA losses by 67% in FY24 and it was from ₹2,400 crore to ₹793 crore. The platform also has achieved profitability with more than 15% EBITDA margin and reported a 33% revenue growth that reached ₹718 crore. The company is now gearing up for an IPO and it can be a reality in the next 18 to 24 months.
Healthcare platform CureBay recorded an 8x growth in gross merchandise value during the first half of FY25 compared to the same period last year. Its annual recurring revenue is ₹128.4 crore and the target to achieve is ₹200 crore by March 2025. It is leveraging its network of tech-powered e-clinics to serve around 55,000 patients each quarter. Its ability to convert 20% of profiled users into active customers highlights trust and engagement that it has strengthened in the healthcare sector.
Several other startups also made headlines for securing fresh funding to support growth ambitions. All Things Baby raised ₹30 crore in Series A funding to broaden its product range and launch experiential retail stores. Lab-grown diamond startup True Diamond secured $1 million to enhance branding and expand retail presence. IoT smart lock company Ikin Global raised $1 million to scale product line and increase production capacity. Crypto investment platform BitSave closed a funding round to secure licenses and expand into other Asian markets by 2025. Outcome-as-a-Service startup DevX gained early-stage investment to strengthen tech team and drive rapid growth.