Fidelity has increased Lenskart's valuation to $6.1 billion, a 21% rise from its previous $5 billion valuation. The omnichannel eyewear retailer is preparing for a potential $1 billion IPO at a $10 billion valuation. Lenskart's FY24 net loss decreased significantly, while operating revenue and EBITDA saw substantial growth, highlighting its strong financial performance.
According to Satish Meena, adviser at ecommerce consultancy Datum Intelligence, a set of customers who previously shopped on ecommerce platforms are shifting to quick commerce for certain categories of products for instant gratification. Many consumers who haven’t used ecommerce before are also trying quick commerce because of its ease and accessibility, he added.
Men's ethnicwear brand Kisah Apparels has successfully raised Rs 13 crore in its latest funding round, led by Sagar Daryani of Wow Momo. With this fresh capital, the brand is set to enhance its physical retail footprint and direct-to-consumer initiatives.
The Bengaluru-based ecommerce marketplace is eyeing a $700-800 million IPO, but the issue size and the timelines could change depending on the market conditions. Meesho is likely to file the papers under Sebi’s confidential route.
The government is likely to increase oversight of quick commerce companies’ dark stores following a spate of complaints about food safety violations at facilities run by leading players. Officials told us that the Food Safety and Standards Authority of India (FSSAI) will lead the effort, with plans for surprise inspections at dark stores and other storage facilities across the country.
Meesho has completed the crucial step of converting from a ‘private limited’ to a ‘public limited’ company in the run-up to its IPO. The online marketplace has also applied to the National Company Law Tribunal for flipping back its domicile from the US to India ahead of its listing.
Rapido is also chalking out plans to enter the insurance distribution space where it could target its driver partners and customers for products such as health, life, general and motor insurance. In fiscal 2025, Rapido’s gross order value (GOV) more than doubled to $1.25 billion on the back of growth in its ride-hailing services.
Maharashtra's FDA has suspended Blinkit's food license in Pune's Balewadi area due to regulatory non-compliance. An investigation revealed the facility lacked the necessary Food Safety and Standards Authority of India license for food production, distribution, and sales. The facility also violated food safety measures, with items found on the floor and missing pest control audits.
The Gurugram-based omnichannel eyewear brand Lenskart closed a $200 million secondary round in June 2024 at a $5 billion valuation. Singapore's sovereign fund Temasek and US financial services giant Fidelity had participated in the round. The company is expecting a 10 billion valuation for its IPO, double it last funding round.
As Blinkit, Zepto, and Instamart expand aggressively into beauty and personal care, Nykaa is taking a slower, more curated approach. Its pilot, Nykaa Now, is live in select areas of Mumbai, New Delhi, and Bengaluru, with a deliberate focus on personal care rather than its core beauty range.
The partnership terms state Rapido will charge a fixed fee of Rs 25 on orders below Rs 400 and Rs 50 on orders over Rs 400. This translates to a range of 8-15% commissions from restaurants, compared to 16-30% charged by Zomato and Swiggy. Consumers will be able to place orders on the Rapido app where restaurants will be listed.
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