Pranav Balakrishnan

Special Correspondent at The CapTable

Business + tech journalist covering EVs, shared mobility, D2C and e-commerce @thecaptableco | Ex- @EconomicTimes, @TheKenweb | ACJIndia-Bloomberg 2019, (he/him)

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Articles

Did BluSmart and Gensol’s downfall begin in the boardroom?

1 day ago | the-captable.com | Pranav Balakrishnan |Nikhil Patwardhan

Key TakeawaysBluSmart’s board included an independent director with potential conflicts of interest, raising questions over the integrity of its governance structuresIndependent director Inderpreet Wadhwa had commercial interests through Clime Finance, which leased EVs to BluSmart’s sister concern Gensol Engineering, which in turn leased them to BluSmartThe board also failed to flag BluSmart’s worsening financial condition, including unpaid taxes and cash flow issues.
Why Ather’s IPO didn’t ignite

6 days ago | the-captable.com | Pranav Balakrishnan

Ather Energy’s public listing has had a subdued start. Known for its deliberate, meticulous approach to product launches, Ather has built a reputation for high-quality electric vehicles (EV). However, when the company went public earlier this week, it had a disappointing start to life on the bourses. While the company’s shares debuted at Rs 321 per share, they closed at Rs 310.40 on day one.
Eternal earnings: Zomato’s summer blues and Blinkit’s imminent evolution

2 weeks ago | the-captable.com | Pranav Balakrishnan

Eternal, better known by its food delivery platform Zomato, kicked off earnings season for India’s new-age tech companies with yet another tepid show in its core food delivery business. Overall, Eternal reported a 78% year-on-year drop in net profit to Rs 39 crore in the last quarter of the year ended March 2025, even as its operating revenue jumped 64% to Rs 5,833 crore. The company has introduced a new metric in addition to gross order value, or GOV.
As food delivery slows, can Dineout be Swiggy’s saviour?

3 weeks ago | the-captable.com | Pranav Balakrishnan

Key TakeawaysAfter a lengthy integration and significant leadership churn, Swiggy is doubling down on Dineout as India’s going-out market boomsHowever, Zomato has surged ahead in the dining-in and events space—District and Insider now clock Rs 2,495 crore in GOV, nearly 3X the GOV of DineoutSwiggy’s dine-in play now includes in-app payments, table reservations, and restaurant ads.
The new cab wars: Uber, Rapido, Ola bet on segmentation for success

4 weeks ago | the-captable.com | Pranav Balakrishnan

Key Takeaways India’s cab-hailing market is shifting from uniformity to segmentation, offering differentiated services based on rider needs The battle has moved beyond pricing—speed, reliability, and personalisation now shape user decisions Post-pandemic challenges around cancellations and driver availability have triggered structural changes in the ecosystem Ride-hailing is entering a maturity phase, marked by experimentation across formats, pricing models, and user experience levers The...
After food delivery, Rapido plans new subsidiary for fintech

1 month ago | yourstory.com | Pranav Balakrishnan

Ride-hailing startup Rapido is setting up a separate subsidiary to enter the fintech space, diversifying further beyond its core mobility business, two people aware of the matter told YourStory. The company has begun internal groundwork for the new unit, which is expected to operate independently of its existing business lines. While the finer details remain under wraps, Rapido is exploring offerings in lending and adjacent financial services, the two sources said.
Rapido’s recipe to disrupt the Zomato-Swiggy food delivery duopoly

1 month ago | the-captable.com | Pranav Balakrishnan

Key Takeaways Rapido is entering food delivery with a zero-commission model, targeting value-conscious users in a market where growth is stalling The ride-hailing firm already has more users and drivers on its platform than either Swiggy or Zomato Rapido’s food delivery strategy echoes its playbook in ride-hailing—expand the market by onboarding first-time users and boosting order frequency through low-cost offerings The CapTable has also learnt that Rapido is setting up a separate subsidiary...
BluSmart to deploy 300 electric cabs on Uber’s platform: Report

1 month ago | yourstory.com | Sai Keerthi |Pranav Balakrishnan

Electric vehicle (EV) ride-hailing app BluSmart will deploy around 300 electric cabs on rival US-based Uber’s platform as part of an experiment amidst mounting trouble at the company, according to a person familiar with the matter. The Morning Context was the first to report on this matter. According to the source, the two companies have been in talks for several months, and the arrangement follows a standard aggregator model, with Uber charging a commission on each ride.
EV ride-hailing firm BluSmart’s senior execs to exit firm

1 month ago | yourstory.com | Sai Keerthi |Pranav Balakrishnan

Several of BluSmart’s senior executives have one foot out the door amidst funding troubles at the EV ride-hailing startup. Top management executives, including BluSmart’s CEO Anirudh Arun, chief business officer Tushar Garg, and chief technology officer Rishabh Sood, have handed in their resignations and are currently serving their respective notice periods, according to a source YourStory spoke to. The Morning Context was the first to report on this matter.
From batteries to bust: Inside the collapse of Peak XV-backed Log9

1 month ago | the-captable.com | Pranav Balakrishnan

Key Takeaways From a peak headcount of 350 to under 50 employees today, Log9 is facing severe financial challenges with unpaid salaries and mounting debt The startup's critical error was betting exclusively on LTO battery technology, which proved commercially unviable in the EV ecosystem Its vehicle leasing strategy failed due to expensive vehicles, low deployment, and challenges collecting lease rentals Despite raising $90 million, the company has accumulated over Rs 200 crore in debt,...