Additionally within the letter:
■ Zypp trims down
■ Alteria’s new investor
■ Large Tech’s H1-B dependency
ONDC retail order numbers decline as monetary incentives fade
The federal government-backed Open Community for Digital Commerce (ONDC) has surpassed 200 million total orders across retail, logistics and mobility. Nonetheless, month-to-month knowledge reveals a decline in retail orders—together with ecommerce, grocery and meals supply.
What’s the matter: Retail orders on ONDC peaked at 6.5 million in October final yr however fell to 4.6 million in February. This decline follows a discount in incentive payouts to community individuals comparable to Magicpin, Paytm, Ola Client, and different smaller gamers who had used these funds to supply reductions.
Exits by sellers:
- PhonePe’s grocery supply service, Pincode, exited ONDC final yr.
- It launched its personal 15-minute supply service by partnering straight with Kirana and trendy retail shops, as ET reported in January.
- Paytm eliminated the ONDC purchasing icon from its app’s dwelling web page, refocusing on core companies comparable to funds, lending and wealth administration.
Additionally Learn: ONDC partners list hits and misses as it wraps up second year of operations
Uber accelerates autonomous car technique
Simply days earlier than SXSW in Austin, Texas, Uber launched autonomous vehicle rides with Alphabet’s Waymo, showcasing its platform technique.
Inform me extra: Austin and shortly Atlanta will exhibit Uber’s potential to assist AV tech corporations commercialise self-driving. Uber goals to assist Waymo, 13 different AV companions, and future entrants.
Three competing AV approaches:
- Tesla is growing in-house tech for its personal robotaxi service.
- Waymo follows a hybrid mannequin, working its personal ride-hailing service whereas partnering with Uber.
- Uber has positioned itself purely as a platform with out investing in AV improvement.
Past Alphabet and Tesla, corporations like Amazon-backed Zoox, Ford, and Basic Motors are additionally advancing AV platforms.
Why it issues: Driverless automobiles might assist Uber resolve car provide constraints which have restricted progress, in line with Andrew Macdonald, SVP, Uber.
Zypp Electrical lays off 10% of workforce amid profitability push
(L-R) Tushar Mehta, Akash Gupta and Rashi Agarwal, cofounders, Zypp Electrical
Gurugram-based EV fleet administration agency Zypp Electrical has reduced headcount by about 10% over two months because it targets profitability earlier than a possible IPO.
Quote, unquote: “This was not a layoff. In February, we carried out an appraisal train… rationalising non-performers,” stated founder Akash Gupta. Worker depend dropped from about 1,300 to 1,190, although hiring continues
Financials:
- Income: Jumped to Rs 293 crore in FY24, up from Rs 109 crore within the earlier yr.
- Losses: Widened to Rs 91 crore from Rs 40 crore in FY23.
Outlook: Firm expects profitability inside 2-3 quarters and goals for public itemizing inside 24 months.
Funding recap:
Different Prime Tales By Our Reporters
(L-R), Punit Shah, Vinod Murali and Ankit Agarwal, managing companions, Alteria Capital
IFC invests in Alteria Capital’s SDS as anchor: Enterprise debt agency Alteria Capital introduced on Wednesday that the Worldwide Finance Company (IFC) has invested in its Shorter Duration Scheme (SDS) as an anchor investor, backing India’s rising demand for short-term startup financing.
EPAM counts on India expertise for supply enterprise: US-based expertise companies agency EPAM Techniques is betting on India for its expanding delivery business, surpassing LTIMindtree, the nation’s sixth-largest IT companies supplier.
US tech corporations dominate H-1B approvals as Trump sends blended indicators on visas: Regardless of US President Donald Trump’s more durable stance on expert employee visas, main expertise corporations continue to rely on foreign talent. Amazon, Google, Microsoft, Meta, and Tesla ranked among the many largest H-1B sponsors in 2025, highlighting the sector’s dependence on abroad professionals.
World Picks We Are Studying
■ OpenAI expects income will triple to $12.7 billion this yr (Bloomberg)
■ Nvidia’s China gross sales face menace from Beijing’s environmental curbs (FT)
■ Otter’s new AI agent can communicate up in conferences (The Verge)
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