From Apollo Hospitals Enterprise Ltd demerging its omnichannel pharmacy and digital health business into a standalone entity to AppsForBharat raising $20 million in a Series C funding round, YourStory brings you today’s headlines with the latest developments across sectors.
Feature stories
Electrifying food deliveries: Eternal’s sustainability chief on meeting Zomato’s EV goal
If you order food through the app, you may get a notification that reads, “Your food is being delivered on an EV.” This is part of Eternal’s pledge towards fully electrifying its food deliveries by 2030. Behind this transition is a complicated roadmap—one with many moving parts, unlike the electric vehicle itself.
The Zomato parent’s chief sustainability officer, Anjali Ravi Kumar, is spearheading this movement. Under her leadership, Zomato has deployed around 37,000 EVs as part of its delivery fleet. Additionally, Blinkit has deployed 50,000 EVs, and 20% of all HyperPure orders are satisfied using an electric vehicle. Read more.
Shunya Agritech promises dairy farmers greater milk yields
During the pandemic, Vijay Singh spent time in the Indian countryside—away from the chaos in the cities—when he noticed a problem plaguing villagers working in the dairy sector—the lack of green fodder.
“I spent a while trying to figure out how big the problem was. After the pandemic, I travelled to about 15 states across the country, trying to understand our dairy practices, and realised this was a perpetual problem,” Singh tells YourStory.
In 2023, Singh founded Delhi-headquartered Agritech, a startup that develops and delivers highly nutritious green fodder for cattle to small farmers. The startup has about 25 employees in the Delhi-NCR region, and an operation centre in Gurugram and cultivation units in cities, including Kanpur, Agra, and Gurugram, and some other rural areas (each with seven employees). Read more.
Why spacetech startup SatLeo Labs is betting big on thermal intelligence
When Shravan Bhati was working on implementing a high-stakes agricultural project in 2019, he and his colleagues found that the temperature data available to them was inaccurate. He decided to bring this to the attention of former ISRO scientist Ranendu Ghosh, who headed the committee appointed by the Gujarat state government to look over the project that Bhati’s company was implementing.
“Temperature played a 35% role in the weightage of the model we were testing. I was under the impression that we had incorrect figures, but Ranendu explained that the Indian Meteorological Department was actually estimating temperature data by interpolating the IoT devices,” Bhati says.
The duo discussed some alternatives, but scalability was a recurring issue. They soon realised the right data would only be available if they assessed it through space. That realisation eventually led to the founding of SatLeo Labs in 2023. Its founding team includes CEO and Co-founder Bhati, CTO and Co-founder Ghosh, and CSO and Co-founder and Director Urmil Bakhai—Bhati’s colleague and a member of that agricultural project team. Read more.
Latest news
Apollo Hospitals to spin off pharmacy, digital health biz into new entity
Hospitals Enterprise Ltd is demerging its omnichannel pharmacy and digital health business—comprising the Apollo 24×7 telehealth platform and its investment in Apollo HealthCo Ltd—into a new standalone entity.
As part of the proposed composite scheme, Apollo will first carve out its digital health and pharmacy operations, including its stake in Apollo HealthCo Ltd, into a newly formed company, NewCo. This will be followed by the merger of AHL into NewCo.
In a parallel move, pharma wholesaler Keimed Pvt Ltd will also be consolidated into the new platform, creating a fully integrated, end-to-end distribution and digital healthcare company. Read more.
TVS Motor’s 2W EV sales hold ground as iQube-maker tops June monthly sales
TVS Motor Company retained its position as India’s largest two-wheeler electric vehicle (EV) manufacturer in June, with a market share of about 27% in the country.
This is the third consecutive month that the iQube maker saw demand for its vehicle soar amid intense competition from Bajaj Auto and Ola Electric. The company sold 25,274 units in June, followed by Bajaj Auto, which sold 23,004 units, with a 24.5% market share, according to data from Vahan.
Meanwhile, Ola Electric continued to see its sales plummet YoY. The Bhavish Aggarwal-led company, which was the biggest E2W manufacturer until December last year, saw its sales fall by 45% from June 2024 to 20,189 units this year. Read more.
Funding news
AppsForBharat secures $20M in Series C round led by Susquehanna Asia VC
AppsForBharat—the parent company behind the devotional platform Sri Mandir—has secured Rs 175 crore (about $20 million) in a Series C funding round led by Susquehanna Asia Venture Capital, with continued support from existing investors Fundamentum, Elevation Capital, and Peak XV Partners.
It will use the funds in over 20 temple towns in India, including Ayodhya, Varanasi, Ujjain, and Haridwar, to strengthen services and commerce verticals and establish fulfilment logistics infrastructure. AppsForBharat also aims to scale temple partnerships, improve digital infrastructure, and enhance AI capabilities for better user service. Read more.
FincFriends raises Rs 98.5 Cr in debt from other NBFCs
NBFC secured Rs 98.5 crore in debt funding to expand its operations and introduce new credit offerings for underserved borrowers in India.
The round includes Rs 54.5 crore raised from NBFCs and Rs 44 crore via non-convertible debentures (NCDs), with participation from investors such as IBL Finance, Incred Financial Services, Real Touch Finance, Shine Star Build-Cap, and Western Capital Advisors.
FincFriends last raised $7.8 million in April last year. The funding included $2 million in equity, $2.8 million in external borrowing, and $3 million in debt from InCred Finance and Grow Money Capital. Read more.
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Other news
REA Group appoints Praveen Sharma as CEO of REA India
appointed Praveen Sharma as the new CEO of REA India, effective July. He will also join the company’s executive leadership team and will be based at REA India’s headquarters in Gurugram.
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Praveen Sharma, CEO, REA India
” style=”float: right; margin-left: 20px; width:50%; height:auto”> Praveen Sharma, CEO, REA India
Sharma brings over 25 years of experience across technology, digital, media, and advertising in India and the Asia-Pacific region.
He joins REA India from Paytm, where he led business verticals such as advertising, online payments, and commerce services. He also spent nearly a decade at Google, including as Regional Director, Performance Media – APAC.
Sharma will work closely with outgoing CEO Dhruv Agarwala to ensure a smooth leadership transition.
Glance appoints Amit Bansal as SVP and GM of Roposo
appointed Amit Bansal as Senior Vice President and General Manager of Roposo, the company’s content-led commerce platform. The appointment comes as Glance prepares to scale its AI-driven commerce initiatives through its upcoming platform, Glance AI.
In his new role, Bansal will lead the growth of Roposo into an AI-led commerce ecosystem, integrating content and communities to support digital storefronts. He will also collaborate with Glance and InMobi’s global teams to drive product innovation and market expansion.
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Amit Bansal, SVP & GM, Roposo
” style=”float: left; margin-right: 20px; width:50%; height:auto” align=”center”> Amit Bansal, SVP & GM, Roposo
Bansal brings over 20 years of experience in digital commerce. He was most recently the Founder and CEO of Solv, a B2B platform serving over 400,000 MSMEs. He also held leadership roles at Flipkart, Reliance Retail, and Ezmall.
EKA Mobility appoints Sanjay Kumar Bohra as Chief Commercial Officer
has appointed Sanjay Kumar Bohra as the Chief Commercial Officer, where he will lead the financial and commercial strategy for the company and its group entities, focusing on growth, efficiency, and value creation.
With over 37 years of experience in finance, banking, and business process services, Bohra joins EKA Mobility at a time of ongoing expansion in both domestic and international markets.
He previously served as the Group CFO at a leading Indian automotive OEM. He also held senior roles at Citigroup, focusing on global banking operations, and led the commercial banking BPO vertical at Tata Consultancy Services.
(This article will be updated with the latest news throughout the day.)
Edited by Suman Singh
