From how FMCG giant Marico navigates quick commerce frenzy and D2C ecosystem to Hyundai Motor and Kia offloading their stakes in Ola Electric, YourStory brings you today’s headlines with the latest developments across sectors.
Featured stories
Marico CEO on D2C buyouts and quick commerce hype
Over the last eight years, the FMCG giant Marico has made four acquisitions, either partially or in full. These include men’s grooming player Beardo, nutrition brand Plix, ayurvedic beauty brand Just Herbs, and healthy snacking brand True Elements.
The Parachute and Saffola owner has stuck to its strategy of acquiring a minority stake initially and working with founders for a few years to scale the brand before offering a complete exit.
In an interview with YourStory, Marico MD and CEO Saugata Gupta talks about the company’s acquisition strategy for D2C brands, the challenges and benefits of scaling digital brands in the FMCG landscape, and the company’s run with quick commerce. Read more.
This space tech startup is making reusable launch vehicles
Ethereal Exploration Guild’s goal is ambitious: to make one of India’s first reusable launch vehicles (RLVs).
Founded in 2022, Manu J Nair set up Ethereal Exploration Guild with fellow co-founders COO Shubhayu Sardar and CTO Prashanth Sharma. With a core team of 31 engineers, the startup is headquartered in Bengaluru.
“The economies of scale, particularly in the medium-lift segment, which currently holds 91% of the commercial market, made the decision clear,” he says. Read more.
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Latest news
Godfather of AI Yoshua Bengio launches non-profit LawZero to keep AI from lying
Yoshua Bengio, popularly known as one of the ‘Godfathers of AI‘, launched LawZero, a non-profit organisation to build safer AI systems.
The new venture brings together leading AI researchers to focus on safety-first development, addressing growing concerns about dangerous capabilities emerging in AI models. These behaviours include deception, self-preservation, and goal misalignment. Read more.
Hyundai Motor, Kia offload stake in EV-maker Ola Electric
South Korean automotive major Hyundai Motor on Tuesday offloaded its stake in EV-maker Ola Electric, exiting the firm by selling shares worth Rs 552 crore in an open market transaction.
The firm, which held a 2.47% stake in Ola Electric, sold more than 10.8 crore shares at an average price of Rs 50.7 apiece, data from NSE showed. Read more.
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Grocery startup KiranaPro hit by cyberattack
ONDC-powered quick commerce startup KiranaPro has been forced to suspend operations following a cyberattack that wiped out its app code and customer data.
Due to inoperability for the past five days, the company’s partnerships worth Rs 5 crore are on hold. It is also losing out on 1 lakh download requests daily and 2k daily orders on its app, KiranaPro’s Co-founder and CEO Deepak Ravindran confirmed to YourStory.
The data hack destroyed the company’s app code as well as its bank of sensitive customer information. It comes at a time when the company is gearing up to close its seed round with investors. Read more.
Funding news
True Diamond raises Rs 26 Cr in pre-Series A round
Lab-grown diamond jewellery startup True Diamond has raised Rs 26 crore ($3.1 million) in its pre-Series A fundraise led by early-stage venture firm India Quotient, along with participation from existing investors Titan Capital Winners Fund and Huddle Ventures.
Founded in January 2024 by Parin Shah and Darayus Mehta, True Diamond plans to use the capital to scale its omnichannel retail operations, with a focus on expanding its offline footprint across major metro cities.
Other news
Meesho Mall partners with P&G, HUL, Himalaya to expand personal care portfolio
Hypervalue ecommerce platform Meesho on Wednesday announced a partnership of its curated platform for branded goods, Meesho Mall with Procter & Gamble (P&G), Hindustan Unilever Ltd (HUL), and Himalaya.
The partnership will enable brands such as Pampers, Gillette, Dove, Vaseline, Lux, and Himalaya to reach a wider base of digital-first consumers, particularly in tier-2 and smaller cities, through Meesho’s online marketplace.
Policybazaar launches elder care service ‘Saarthi’ for senior citizens
Insurance marketplace Policybazaar has launched Saarthi, an elder care concierge programme for supporting senior citizens throughout their healthcare and insurance journey.
The initiative, developed in collaboration with insurer partners, offers services including personalised insurance guidance, 24/7 relationship managers, on-ground claims assistance, and tie-ups with home healthcare providers.
(This article will be updated with the latest news throughout the day.)
Edited by Kanishk Singh
