10th Indian Delegation to Dubai, Gitex & Expand North Star – World’s Largest Startup Investor Connect
E Commerce

Blinkit Extends Services To Jammu


SUMMARY

Blinkit’s stores in Jammu are located in Trikuta Nagar, Roop Nagar, and Akhnoor Road, serving more than 10 nearby localities

Blinkit went live in Kochi just ahead of Onam, following which it also launched its services in Bathinda, Haridwar, and Vijayawada

With the quick commerce boom in India, Blinkit is targeting to set up a total of 2,000 dark stores by the end of FY26

In line with Zomato’s initiative to expand its quick commerce business to Tier II cities, Blinkit is now operational in parts of Jammu.

Blinkit’s cofounder and CEO Albinder Dhindsa said in a post on LinkedIn that three of its stores are already operational in Jammu and have started delivering to nearby areas.

The stores are located in Trikuta Nagar, Roop Nagar, and Akhnoor Road, serving more than 10 nearby localities.

Notably, Blinkit went live in Kochi just ahead of Onam, following which it also launched its services in Bathinda, Haridwar, and Vijayawada.

The development comes days after the quick commerce platform roped in Flipkart’s vice president for business finance Vipin Kapooria as the company’s new chief financial officer (CFO). 

It is pertinent to note that Blinkit has also been in full swing to stay ahead of its competitors in the quick commerce race by launching new features.

Earlier this month, the Zomato-owned company forayed into the quick food delivery segment with the launch of a new app, Bistro, in pilot phase. Currently operational in parts of Gurugram, Blinkit’s Bistro delivers meals, snacks, and beverages like tea and coffee within 15 minutes.

Inc42 exclusively reported last month that Blinkit was piloting a large order fleet in the Delhi NCR region, which could be utilised for ordering larger products such as a geyser, air purifier, or even a Playstation 5.

In October, Blinkit launched a ‘Blinkit Seller Hub’ to help brands list on the quick commerce platform and start selling their products without any need to interface with any intermediaries or with the platform.

On the financial front, Blinkit clocked INR 1,156 Cr in revenue in the second quarter of the financial year 2024-25 (FY25),  which more than doubled from INR 505 Cr posted a year ago.

The company also managed to narrow its adjusted EBITDA loss to INR 8 Cr in the reported quarter from a loss of INR 125 Cr, in Q2 FY24. 

With the quick commerce boom in India, Blinkit is targeting to set up a total of 2,000 dark stores by the end of FY26. At the end of Q2 FY25, Blinkit operated 791 dark stores across the country. 





Source link

by Tech In Asia

GoTo’s legal and corporate secretary said the company follows regulations for public companies and will prioritize the interests of shareholders. Source link

by INC42

SUMMARY The due diligence is done, and both sides are negotiating final terms for the cash and equity transaction If the deal closes, it will mark one of the biggest consolidation in India’s auto tech sector Notably, CarDekho entered the unicorn club in October 2021 after raising $250 Mn at a $1.2 Bn valuation. It, however, shut down its used-car retail business in 2023 after high operating costs made it unviable Listed auto marketplace CarTrade is reportedly in advanced stages to acquire rival CarDekho in a deal valued at… Source link

by INC42

From a brand known for its cool urban image and setting the Indian craft brewery benchmark, Bira 91’s survival hangs by a thread.  The startup, which has raised more than $200 Mn in funding to date from investors such as Peak XV Partners, Sofina, and Kirin Holdings, among others, is struggling to move past the slowdown that hit its business last year.   At the centre of the storm are 600 employees, the investors, and Ankur Jain, the CEO and founder of B9 Beverages Ltd, Bira 91’s parent company.  Jain is under pressure to step down… Source link