Quick Commerce Startups to Deliver 24/7, BYJU's losses pile up - Indian Startup News 138
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This week in Indian Startup News, Instant Grocery Delivery startups extend their delivery time, Byju's losses pile up, ONDC beta testing to begin soon, Lido learning files for bankruptcy.   00:00 Introduction 00:30 Instant Grocery Delivery startups extend their delivery time 03:33 Byju's losses pile up 04:30 Bird's Eye Segment 06:13 ONDC beta testing to begin soon 06:38 Lido learning files for bankruptcy 06:50 Sponsored Segment 08:15 BWM Update   Instant Grocery Delivery startups extend their delivery time: Zepto, Dunzo, Blinkit and Swiggy Instamart are now testing pilots for late night deliveries. These pilots are only available for selected markets in cities like Bengaluru, Hyderabad, Delhi, Pune, Mumbai and Chennai. They are doing this mainly because Indian customers tend to stay up late, and when they stay up late, they tend to order snacks and other eatables in the night. This would give extra business to these companies.   Byju's losses pile up: Byju’s, world’s biggest ed-tech company, has posted their financials a couple of days ago after delaying it for almost an year; and it's not looking good. They reported a loss of 576 million dollars in FY21 from 29 million dollars in FY20, that's a massive increase of 1,880% or 19.8X. Company’s total revenue declined by 3.3% from 315 million dollars to 305 million dollars. The main reason for this loss is acquisitions and marketing. 1/4th of the losses are because of  WhiteHat Jr, a code learning platform which Byju’s acquired back in 2021, which reported a loss of 212 million dollars alone.   Funding this week: This week at least 10 Indian Startups raised more than $1 Million, in total raising $143.8 Mn.  Yulu raised $82 Million Agritech startup Akshayakalpa raised $15 Mn Deeptech startups raised $21 Million   ONDC beta testing to begin soon: ONDC beta testing will begin at the end of September. The beta testing is likely to take place in Bengaluru, said ONDC CEO.   Lido learning files for bankruptcy: Lido Learning has filed for bankruptcy! Lido failed to pay off debts payable to its ex-employees, customers, vendors, lenders and sundry creditors.
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