Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.
Top stories this week
Lalit Keshre, CEO, Groww
Groww to acquire Fisdom in a $150 million all-cash deal: Groww has signed a definitive deal to acquire Fisdom, to expand its presence in the wealth management space, as it prepares to file its draft red herring prospectus with markets regulator Securities and Exchange Board of India.
Also Read: GIC seeks CCI nod for Groww stake
New chip on the block: UP will host HCL-Foxconn JV| India is set to get its sixth semiconductor facility under the India Semiconductor Mission, after the Cabinet greenlit a Rs 3,706 crore plant to be built in Jewar, Uttar Pradesh by homegrown HCL group and iPhone supplier Foxconn.
Trump to Apple: ‘Don’t expand production in India’| US President Donald Trump has urged Apple CEO Tim Cook to halt the company’s manufacturing in India as the iPhone maker looks to diversify manufacturing outside China.
Nearly 2,000 BluSmart EVs on the block: Lenders and leasing firms are looking to sell 1,500-2,000 electric vehicles (EVs) that were part of BluSmart’s fleet, following the ride-hailing platform’s suspension of operations last month.
Also Read: NCLT to hear Ireda's insolvency plea against Gensol next month: Report
Flipkart may limit its quick commerce expansion to top cities to reduce burn: Flipkart is set to scale back the expansion of its quick commerce unit, Flipkart Minutes, by focusing on adding dark stores only in the top six to eight cities.
Tata 1mg plans more offline forays: Online pharmacy 1mg is looking to expand its offline presence amid talks to raise $300 million in external funding.
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Fintech News
Fintech AMCs diversify revenue with asset management: Fintech platforms like Groww, Navi, and Zerodha are venturing into the asset management space to diversify their revenue streams and build more resilient business models.
UPI Lite, wallet-based payments off to slow start: Most features National Payments Corporation of India (NPCI) rolled out in the recent years have seen limited adoption due to several challenges.
Earnings Corner
Alok Bansal and Yashish Dahiya, founders, PB Fintech group
PB Fintech Q4 net profit triples to Rs 170 crore: PB Fintech, the holding company of Policybazaar, saw its net profit nearly triple, mainly driven by the steady insurance premium collection.
Delhivery posts Rs 72 crore Q4 profit despite moderate revenue growth: New-age logistics firm Delhivery posted muted growth in the March quarter but continued to build on its profitability.
Ixigo logs 128% rise in Q4 net profit; operating revenue up 72%: Le Travenues Technology, the parent company of online travel aggregator Ixigo, experienced a 128% year-on-year increase in net profit to Rs 16.7 crore, while operating revenue surged 72% to Rs 284 crore.
Ather Energy narrows Q4 losses by 17%; revenue rises 29% to Rs 676 crore: Electric two-wheeler maker Ather Energy narrowed its Q4 FY25 net loss by 17% year-on-year to Rs 234.4 crore, driven by higher scooter sales and improved margins.
Ola and Swiggy weigh on SoftbBank’s Vision Fund 2 in Q4: Japanese tech giant SoftBank posted its first annual profit in four years, despite taking a hit from Swiggy and Ola Electric in Q4.
Done Deals
Dream11 parent to invest $50 million in Times Internet’s Cricbuzz and Willow TV: Sports tech company Dream Sports will acquire a strategic minority stake in cricket media platform Cricbuzz and North America's leading cricket broadcaster, Willow TV.
Capillary Tech buys assets of customer loyalty services firm Kognitiv: The deal will provide Capillary Tech access to over 30 enterprise clients of Kognitiv, including leading hotel companies in Australia and New Zealand, the UK, the Middle East, and the US.
Eye on AI
Shantanu Narayen, CEO, Adobe
People who use AI will replace those who don't: Adobe CEO Shantanu Narayen| “People who use AI will replace those who don’t, just as those who embraced automation or computers replaced those who didn’t,” Adobe CEO Shantanu Narayen told ET.
India has just one GenAI engineer for 10 open roles: Report | India is grappling with a severe AI talent crunch despite a hiring surge, with just 49% of demand met.
AI leadership roles up 40-60% in FY25 as talent demand soars: Leadership roles in artificial intelligence (AI) have surged by 40-60% year-on-year in FY25, according to data from staffing firms.
Also Read: OpenAI rolls out GPT-4.1 and GPT-4.1 mini
Top stories this week
Groww to acquire Fisdom in a $150 million all-cash deal: Groww has signed a definitive deal to acquire Fisdom, to expand its presence in the wealth management space, as it prepares to file its draft red herring prospectus with markets regulator Securities and Exchange Board of India.
Also Read: GIC seeks CCI nod for Groww stake
New chip on the block: UP will host HCL-Foxconn JV| India is set to get its sixth semiconductor facility under the India Semiconductor Mission, after the Cabinet greenlit a Rs 3,706 crore plant to be built in Jewar, Uttar Pradesh by homegrown HCL group and iPhone supplier Foxconn.
Trump to Apple: ‘Don’t expand production in India’| US President Donald Trump has urged Apple CEO Tim Cook to halt the company’s manufacturing in India as the iPhone maker looks to diversify manufacturing outside China.
Nearly 2,000 BluSmart EVs on the block: Lenders and leasing firms are looking to sell 1,500-2,000 electric vehicles (EVs) that were part of BluSmart’s fleet, following the ride-hailing platform’s suspension of operations last month.
Also Read: NCLT to hear Ireda's insolvency plea against Gensol next month: Report
Flipkart may limit its quick commerce expansion to top cities to reduce burn: Flipkart is set to scale back the expansion of its quick commerce unit, Flipkart Minutes, by focusing on adding dark stores only in the top six to eight cities.
Tata 1mg plans more offline forays: Online pharmacy 1mg is looking to expand its offline presence amid talks to raise $300 million in external funding.
Sponsor ETtech Top 5 & Morning Dispatch!
Why it matters: ETtech Top 5 and Morning Dispatch are must-reads for India’s tech and business leaders, including startup founders, investors, policy makers, industry insiders and employees.
The opportunity:
- Reach a highly engaged audience of decision-makers.
- Boost your brand’s visibility among the tech-savvy community.
- Custom sponsorship options to align with your brand’s goals.
What’s next: Interested? Reach out to us at spotlightpartner@timesinternet.in to explore sponsorship opportunities.
Fintech News
Fintech AMCs diversify revenue with asset management: Fintech platforms like Groww, Navi, and Zerodha are venturing into the asset management space to diversify their revenue streams and build more resilient business models.
UPI Lite, wallet-based payments off to slow start: Most features National Payments Corporation of India (NPCI) rolled out in the recent years have seen limited adoption due to several challenges.
Earnings Corner PB Fintech Q4 net profit triples to Rs 170 crore: PB Fintech, the holding company of Policybazaar, saw its net profit nearly triple, mainly driven by the steady insurance premium collection.
Delhivery posts Rs 72 crore Q4 profit despite moderate revenue growth: New-age logistics firm Delhivery posted muted growth in the March quarter but continued to build on its profitability.
Ixigo logs 128% rise in Q4 net profit; operating revenue up 72%: Le Travenues Technology, the parent company of online travel aggregator Ixigo, experienced a 128% year-on-year increase in net profit to Rs 16.7 crore, while operating revenue surged 72% to Rs 284 crore.
Ather Energy narrows Q4 losses by 17%; revenue rises 29% to Rs 676 crore: Electric two-wheeler maker Ather Energy narrowed its Q4 FY25 net loss by 17% year-on-year to Rs 234.4 crore, driven by higher scooter sales and improved margins.
Ola and Swiggy weigh on SoftbBank’s Vision Fund 2 in Q4: Japanese tech giant SoftBank posted its first annual profit in four years, despite taking a hit from Swiggy and Ola Electric in Q4.
Done Deals
Dream11 parent to invest $50 million in Times Internet’s Cricbuzz and Willow TV: Sports tech company Dream Sports will acquire a strategic minority stake in cricket media platform Cricbuzz and North America's leading cricket broadcaster, Willow TV.
Capillary Tech buys assets of customer loyalty services firm Kognitiv: The deal will provide Capillary Tech access to over 30 enterprise clients of Kognitiv, including leading hotel companies in Australia and New Zealand, the UK, the Middle East, and the US.
Eye on AI
Shantanu Narayen, CEO, AdobePeople who use AI will replace those who don't: Adobe CEO Shantanu Narayen| “People who use AI will replace those who don’t, just as those who embraced automation or computers replaced those who didn’t,” Adobe CEO Shantanu Narayen told ET.
India has just one GenAI engineer for 10 open roles: Report | India is grappling with a severe AI talent crunch despite a hiring surge, with just 49% of demand met.
AI leadership roles up 40-60% in FY25 as talent demand soars: Leadership roles in artificial intelligence (AI) have surged by 40-60% year-on-year in FY25, according to data from staffing firms.
Also Read: OpenAI rolls out GPT-4.1 and GPT-4.1 mini
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