Debarghya Sil

New Delhi

Reporter: @inc42 | Covering Indian Startup Ecosystem - Funding, Layoffs, Financials, & More | @ACJIndia alumni | Tips: [email protected] | Views Personal

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Articles

Exclusive: Elevation Capital-Backed Zopper Fires 100 Employees

1 week ago | inc42.com | Debarghya Sil

Insurance-focussed SaaS startup Zopper has laid off around 100 employees since the start of 2025, with the latest round of firing taking place earlier this week, sources told Inc42. As per the sources, the startup’s management informed earlier this week that around 50 employees from tech and product teams were laid off. “They just said that they are trying to cut costs,” one of the sources said.
HT Syndication: Exclusive: Elevation Capital-Backed Zopper Fires 100 Employees

1 week ago | htsyndication.com | Debarghya Sil

India, April 17 -- Insurance-focussed SaaS startup Zopper has laid off around 100 employees since the start of 2025, with the latest round of firing taking place earlier this week, sources told Inc42. As per the sources, the startup's management informed earlier this week that around 50 employees from tech and product teams were laid off. "They just said that they are trying to cut costs," one of the sources said.
BluSmart Cab Services Unavailable In Delhi NCR, Bengaluru, Mumbai

1 week ago | inc42.com | Debarghya Sil

SUMMARY Troubled ride-hailing startup BluSmart seems to have suspended cab scheduling services in all the cities it operates in – Delhi NCR, Mumbai, and BengaluruThe startup’s app is showing a message that no slots are available and redirecting users back to the homepage while trying to schedule a cab from the app. It needs to be highlighted that scheduled cab services generated a majority of revenue for the BluSmart.
HT Syndication: BluSmart Cab Services Unavailable In Delhi NCR, Bengaluru, Mumbai

1 week ago | htsyndication.com | Debarghya Sil

India, April 16 -- Troubled ride-hailing startup BluSmart seems to have suspended cab scheduling services in all the cities it operates in - Delhi NCR, Mumbai, and Bengaluru. The startup's app is showing a message that no slots are available and redirecting users back to the homepage while trying to schedule a cab from the app. However, the "Express Ride" option, which allows users to get cabs in 10 minutes seems to be working in Delhi NCR.
SEBI Bars Gensol Promoters From Holding Position Of Director

1 week ago | inc42.com | Debarghya Sil

SUMMARY Markets regulator SEBI has barred the promoters of Gensol Engineering, Anmol Singh Jaggi and Puneet Singh Jaggi, from holding the position of director or key managerial personnel The interim order said that Gensol attempted to mislead SEBI, credit rating agencies (CRAs), lenders and investors by submitting forged conduct letters purportedly issued by its lenders The markets regulator noted that the promoters of Gensol and their related parties/ relatives benefitted from the funds of...
Exclusive: Sanjeev Kapoor’s Wonderchef Eyes IPO At INR 1,800 Cr Valuation

1 week ago | inc42.com | Debarghya Sil

Renowned chef Sanjeev Kapoor’s Wonderchef is looking to go public this year, becoming the latest Indian startup to join the IPO race. The Mumbai-based startup is eyeing a valuation of INR 1,800 Cr (about $200 Mn) for the IPO, sources told Inc42. This would be a significant jump from its last-known valuation of around $100 Mn.The D2C kitchenware and home appliance maker’s IPO will primarily comprise an offer for sale to provide an exit opportunity to its investors.
HT Syndication: Exclusive: Sanjeev Kapoor's Wonderchef Eyes IPO At INR 1,800 Cr Valuation

1 week ago | htsyndication.com | Debarghya Sil

India, April 15 -- Renowned chef Sanjeev Kapoor's Wonderchef is looking to go public this year, becoming the latest Indian startup to join the IPO race. The Mumbai-based startup is eyeing a valuation of INR 1,800 Cr (about $200 Mn) for the IPO, sources told Inc42. This would be a significant jump from its last-known valuation of around $100 Mn.The D2C kitchenware and home appliance maker's IPO will primarily comprise an offer for sale to provide an exit opportunity to its investors.
HT Syndication: SEBI Bars Gensol's Jaggi Brothers From Markets For Treating Company's Funds As Their 'Piggybank'

1 week ago | htsyndication.com | Debarghya Sil

India, April 15 -- Markets regulator SEBI has barred the promoters of Gensol Engineering, Anmol Singh Jaggi and Puneet Singh Jaggi, from holding the position of director or key managerial personnel of the troubled company for various violations, including misutilisation and diversion of funds. In an interim order today, the regulator said that the Jaggi brothers, who are also cofounders of EV ride-hailing giant BluSmart, along with Gensol, have also been barred from the securities market. ".
HT Syndication: What Triggered Ecom Express' $165 Mn Fire Sale To Delhivery?

1 week ago | htsyndication.com | Debarghya Sil

India, April 12 -- Last week, the Indian startup ecosystem witnessed a different kind of distress sale. Typically speaking, such deals involve companies going through a downturn, but this time it was for an IPO-bound company - Ecom Express. Listed major Delhivery informed stock exchanges that it is acquiring 99.4% stake in Ecom Express for INR 1,407 Cr ($165 Mn), an almost 80% valuation drop from Ecom Express's last valuation of INR 7,300 Cr ($850 Mn).
What Triggered Ecom Express’ $165 Mn Fire Sale To Delhivery?

1 week ago | inc42.com | Debarghya Sil

SUMMARY Once valued at $850 Mn and gearing up for a public listing, Ecom Express has now been acquired by rival Delhivery for just $165 Mn, an 80% value erosion From overdependence on Meesho to leadership churn and missing the quick commerce wave, Ecom Express lost it track barely four months after SEBI cleared its second IPO attempt With shrinking revenue, mounting losses, and widespread layoffs, Delhivery’s acquisition raises a pressing question: can it turn this troubled asset into a...