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MakeMyTrip partners with Zomato to launch on-train meal delivery at 130+ stations

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Raj Rishi Singh, Chief Business Officer (Flights, GCC, Corporate Travel) & Chief Marketing Officer, MakeMyTrip

MakeMyTrip has partnered with Zomato to provide train passengers the ease of getting meals delivered straight to their seats. Through the MakeMyTrip app, travelers booking train tickets can now choose from over 40,000 restaurant partners listed on Zomato, available across 130+ stations.

The opportunity is vast, with over 90,000 rail passengers availing Indian Railways’ e-catering services daily in FY 2024–25, reflecting a 66% year-on-year growth. The travel platform aims to capitalize on this growing demand by offering its ‘Food on Train’ service, covering breakfast, lunch, dinner, and quick snacks. The platform leverages its proprietary ‘Live Train Status’ tool to prompt travelers to place orders at the most convenient time.

After travelers responded positively to the soft launch with Zomato, showing a preference for convenient, travel-friendly meals, MakeMyTrip will capitalize on this momentum by launching targeted campaigns to increase awareness of its on-train food delivery service.

Speaking about the development, Raj Rishi Singh, Chief Business Officer (Flights, GCC, Corporate Travel) & Chief Marketing Officer, MakeMyTrip, said, “Over the past few years, we have been growing faster than the overall industry in the train booking domain, driven by a sustained focus on customer-centric innovations. With the launch of our Food on Train Marketplace, we are taking another step in enhancing the travel experience by giving passengers greater choice and convenience. This collaboration with Zomato builds on that momentum and will contribute to strategically unlocking one of the fastest-growing consumption opportunities in India’s mobility ecosystem.”

Commenting on the development, Rahul Gupta, VP – Product, Zomato said, “Our commitment to ‘Serving India’ drives everything we do, and we are constantly looking for ways to make our customers’ experiences seamless and enjoyable. This collaboration with MakeMyTrip enables train passengers to conveniently order meals from their favourite restaurants through the MakeMyTrip platform, with direct food delivery to their seats. We are truly excited about the value this partnership will bring to our customers.”

For Diwali, travelers booking train tickets through MakeMyTrip will get a complimentary coupon, redeemable for food orders via Zomato, adding extra delight to their journey.

MakeMyTrip elevates every stage of train travel with technology-driven convenience. From pre-booking tools like route guidance and seat forecasts, to booking features such as Seat Lock and Free Cancellation, and post-booking services including Zomato food delivery, live PNR updates, and real-time tracking, MakeMyTrip ensures a seamless journey from start to finish.

Digital credit infra startup FinBox raises $40 Mn in funding

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(L-R) Srijan Nagar, Nikhil Bhawsinka, Anant Deshpande, Rajat Deshpande, cofounders, Finbox

FinBox, a B2B credit infrastructure fintech, has secured $40 million (approximately ₹350 crore) in a Series B funding round led by WestBridge Capital, according to CEO and co-founder Rajat Deshpande.

The company plans to use the capital to roll out new products, enhance its AI-powered platforms for risk assessment, fraud detection, and underwriting, and expand further into fraud prevention. Additionally, FinBox intends to enter the secured lending space, including loan against property, housing finance, and other segments.

“FinBox has established itself as a product-first platform that addresses critical gaps in India’s credit ecosystem. Their modular architecture, data intelligence, and embedded applications create a strong foundation for scalable digital lending. At WestBridge Capital, we strongly believe FinBox is well positioned towards becoming an integral layer of India’s evolving digital credit infrastructure, and we are excited to partner with them in their next phase of growth” said Deepak Ramineedi, Partner, WestBridge Capital.

The round also saw participation from existing investors such A91 Partners and Aditya Birla Ventures.

“We are excited to up our investment in FinBox. They’ve prudently been building the rails for digital lending. This fundraise will help further expand their product suite for banks and NBFCs,” Kaushik Anand, Partner, A91 partners, said.

FinBox raised $35 million as primary capital directly into the company, while secondary share sales contributed the remaining $5 million, enabling early angel investors to exit and new backers to come in.

“With the fresh capital, we will accelerate our mission to reimagine digital lending through our AI platform to supercharge the productivity of banks and NBFCs while ensuring borrowers get faster, fairer access to credit,” Deshpande said in the interview.

“We’ll also use the money to scale operations in Southeast Asia, a market we entered recently,” he said.

Deshpande also said FinBox will actively look at acquiring companies that are building in adjacent sectors.

“If a company is building in a space we’ve been eyeing, we’ll consider inorganic growth opportunities. These will be companies that are valued at around $20-30 million. We can consider even larger ones, we will not shy away from raising more capital to fund these plans,” he said.

FinBox will choose to be aggressive and chase growth, instead of prioritising profits at this point, Deshpande added.

Since its launch in 2017, FinBox’s lending stack has facilitated loan applications worth more than $9 billion (over ₹75,000 crore). Its flagship product, FinBox BankConnect, has enabled lenders to boost approval rates by 35% while cutting fraud cases by 54%.

Before this latest funding round, the company had secured a total of $16 million, according to private market intelligence platform Tracxn.

Urban Company shares soar 58% on stock market debut, investors cheer strong listing

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Urban Company shares had a strong debut on the Indian stock exchanges on Wednesday, September 17. The stock opened at ₹161 on the BSE and ₹162.25 on the NSE, reflecting a premium of 56% and 57.5%, respectively, over the issue price of ₹103.

The debut surpassed market expectations, as analysts and grey market trends had indicated a 40–50% listing gain. Prior to the listing, Urban Company IPO shares were trading with a premium of ₹51 in the grey market.

Shivani Nyati, Head of Wealth at Swastika Investmart, advised investors to book partial profits following the stellar market debut.

“For those who received allotment, consider booking partial profit and holding the rest for long-term gains with a stop loss of 120. Urban Company, formerly known as UrbanClap, is a leading tech-enabled home services platform offering a wide range of services, including beauty and wellness, appliance repair, cleaning, and maintenance. In FY25, Urban Company reported Revenue of ₹1,144 crore (38% YoY growth) and ₹240 crore (a significant turnaround from a ₹93 crore loss in FY24),” Niyati said.

Urban Company’s IPO witnessed robust demand from investors across categories, with the overall issue subscribed 103.63 times. Retail investors oversubscribed their quota 39.25 times, while Non-Institutional Investors (NIIs) subscribed 74.04 times. The strongest response came from Qualified Institutional Buyers (QIBs), who subscribed 140.20 times.

Urban Company’s IPO opened on Wednesday, September 10, and closed on Friday, September 12, with allotments finalized on September 16.

Investors gave an overwhelming response, subscribing to the issue over 100 times. According to reports, it ranks as the most heavily subscribed public offering in India so far this year.

The ₹1,900 crore Urban Company IPO included a fresh issue of 4.58 crore equity shares worth ₹472 crore and an offer-for-sale (OFS) of 13.86 crore shares amounting to ₹1,428 crore. The company set the price band for the issue between ₹98 and ₹103 per share.

Kotak Mahindra Capital Co. Ltd. acted as the book-running lead manager for the Urban Company IPO, while MUFG Intime India Pvt. Ltd. served as the registrar.

Tata Power Delhi Distribution Ltd to Provide ‘Tatkal’ Electricity Connections within 24-hours for Ram Leela, Durga Puja and other festivals

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New Delhi, September 17, 2025: Tata Power Delhi Distribution Limited (Tata Power-DDL), a leading power utility supplying electricity to a populace of around 9 million in North Delhi, is providing ‘tatkal’ electricity connections for organizing Ram Leela, Durga Puja and other festivals within 24-hours.

To obtain a ‘tatkal’ temporary electricity connection from Tata Power-DDL, consumers simply need to visit the customer care centre at the division office to complete easy formalities. Alternatively, consumers can also apply for and make payments for the temporary connection online through Tata Power-DDL’s official website – www.tatapower-ddl.com.

To facilitate a smooth process and hassle-free experience, meters are readily available at zonal offices. Once the customer submits the application along with the demand note.

Tata Power-DDL is also putting safety of people in mass gatherings on top priority. The concerned team is conducting inspections of electrical installations such as poles, streetlights, towers, wires, substations, and feeder pillars to identify and rectify safety hazards, if any. It has also issued advisory to its consumers to take due precautions with their wiring and avoid any loose connections, as these can lead to accidents. It is also crucial to install an ELCB (Earth Leakage Circuit Breaker) to protect both people and equipment from electrical shocks and fires by detecting and stopping electrical currents that leak to the ground.

Speaking on the matter, a Spokesperson from Tata Power Delhi Distribution Ltd said, “We have systems in place for temporary electricity connections for festivals such as Ram Leela, Durga Puja, etc., wherein we provide an electricity connection within 24 hours of completing the formalities. This facility can be availed for marriages and other events. Additionally, our teams will remain on high alert during upcoming festive seasons to handle any untoward incidents. Our priority is to ensure seamless operations, and we hope everyone enjoys a safe and joyful festive season.”

The discom is also implementing several measures, including placing its operations and maintenance teams on high alert, to ensure a reliable power supply during the upcoming festive season.

About Tata Power Delhi Distribution Limited:

Tata Power Delhi Distribution Limited is a joint venture between Tata Power and the Government of NCT of Delhi. Tata Power-DDL distributes electricity in North Delhi and serves a populace of around 9 million. Tata Power-DDL has been a frontrunner in implementing power distribution reforms and is acknowledged for its consumer-friendly practices. Since privatization, the Aggregate Technical & Commercial (AT&C) losses in Tata Power-DDL areas have shown a record decline. Today, AT&C losses stand at 5.5%, which is an unprecedented reduction from an opening loss level of 53% in July 2002. To learn more about Tata Power-DDL, please visit www.tatapower-ddl.com

Pelocal raises $5M in Series A funding

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Vikas Garg and Vivekanand Tripathi, co-founders, Peloca

Mumbai-based fintech startup Pelocal announced on Tuesday that it has raised $5 million in a Series A funding round, led by UNLEASH Capital Partners, Unicorn India Ventures, and several angel investors. The funding will support the company’s efforts to scale its payments orchestration platform.

Founded in 2021, Pelocal allows enterprises to acquire, engage, and collect payments from customers directly via WhatsApp, which boasts over 700 million active users in India. The startup currently serves more than 40 large enterprises across banking, transit, and utilities, providing services to over 5 million users each month.

“Until now, digital communications have largely been limited to peer-to-peer messages or one-way notifications. Our vision is to bring last-mile payments to the masses via WhatsApp by leveraging AI and advanced technologies. This fundraise enables us to execute that mission, and we’re thrilled to have the support of investors who share our conviction,” said Vivekanand Tripathi, Founder and CEO, Pelocal, in a statement.

Vikas Garg, Co-founder of Pelocal, said, “With strong market demand and the backing of our investors, we’re committed to delivering world-class products at the intersection of payments, communication, and enterprise technology.”

“Pelocal is redefining how enterprises interact and transact with customers by embedding payments into conversational interfaces like WhatsApp. With AI at the core, the company is solving a large-scale problem for Indian businesses and has the potential to scale globally,” said Natsuki Sugai, Managing Partner at UNLEASH Capital Partners.

Anil Joshi, Managing Partner at Unicorn India Ventures, added, “The surge in conversational commerce and embedded payment solutions presents a massive opportunity, and Pelocal is well-positioned to lead this transformation.”

Pelocal, in October 2024, raised $2 million in a seed round led by Unicorn India Ventures.

Atmosphere Core embarks on new horizons to drive future growth

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Salil Panigrahi, Managing Director of Atmosphere Core.

Against the backdrop of a booming international travel and hospitality sector, Atmosphere Core convened its top 30 leaders in Dubai on September 9–10, 2025 for its annual leadership summit, with a clear focus on global expansion.

During the two-day event, senior executives aligned on strategic priorities and strengthened collaboration, exploring opportunities beyond the Maldives, India, Sri Lanka, and Nepal, and setting their sights on new destinations across Asia and Europe. The sessions highlighted the company’s progressive leadership approach and commitment to delivering exceptional guest experiences.

Atmosphere Core’s Managing Director, Salil Panigrahi, commented on the summit event, “Global expansion is our new direction. As global nomads, we carry with us the Joy of Giving philosophy, the spirit that defines our brands and our people. This annual gathering ensures we remain united, focused, and motivated to move forward. Leadership is about knowing when to push with clear goals and when to pull by guiding and inspiring. Reliability builds trust, and emotional intelligence connects us to our teams and guests. Together, these qualities will drive us as we extend our vision across continents.”

Founded in the Maldives just 12 years ago, Atmosphere Core has steadily grown to operate nine private island resorts and one heritage hotel in India. Moreover, it has a pipeline of 17 hotels across the country, along with upcoming projects in Italy, Nepal, and Sri Lanka. In 2026, the group plans to launch six new properties, further strengthening its international presence. Additionally, Atmosphere Core is widely recognized for redefining the all-inclusive resort experience through its innovative ‘Holiday Plan’ concept, which has set new benchmarks for luxury, indulgence, and personalized service in the Indian Ocean region.

The Atmosphere Core Leadership Summit reinforced the company’s focus on nurturing strong leaders capable of building resilient teams, delivering exceptional hospitality, and strengthening the brand’s global footprint.

Royal Orchid Hotels launches ICONIQA Mumbai

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Royal Orchid Hotels Ltd. has launched ICONIQA Hotels & Resorts, its innovative upscale lifestyle brand. The brand’s flagship property, conveniently located near Mumbai International Airport’s Terminal II, represents a strategic foray into the premium hospitality segment, offering cutting-edge design, technology-driven services, and immersive experiences tailored for the modern traveler.

In addition, ICONIQA Hotels & Resorts redefines the traditional hotel experience by seamlessly combining striking aesthetics, smart technology, and personalized guest engagement. ICONIQA’s thoughtfully crafted brand ethos enables the brand to expand seamlessly from urban city locations to resort destinations.

The Mumbai flagship property boasts 291 meticulously designed rooms and introduces several firsts in the hotel industry, including in-room smart laundry closets and a 24/7 WhatsApp concierge. The hotel also emphasizes diverse food and beverage experiences, featuring Mumbai’s first poolside day club, along with a range of thoughtfully curated facilities and design elements throughout the property.

“ICONIQA is a bold vision of what hospitality can be, where every element is designed for the new-generation traveler who craves experiences over conventions. Today’s guests seek vibrant spaces that reflect their lifestyles, spark inspiration, and elevate every moment. With ICONIQA, we’re not just launching a brand; we’re setting a new standard for immersive, intuitive hospitality that delivers extraordinary value at every touchpoint,” said Chander K Baljee, Chairman & Managing Director, Royal Orchid Hotels Ltd.

Royal Orchid Hotels plans to expand its portfolio to over 345 properties by 2030, accelerating growth across its collection of brands. In the upscale lifestyle segment, ICONIQA—operating primarily through flexi-lease and ownership models—will strengthen the group’s focus on future-ready hospitality while ensuring high ROCE. This ambitious expansion strategy positions the company to capitalize on India’s booming travel market and explore select international opportunities.

“Mumbai is a city on the move, a nexus for business, culture, and global connectivity. ICONIQA answers its energy and ambition with future-ready design, smart technology, and thoughtful experiences that go beyond traditional hotel stays. We’re proud to unveil a hospitality concept that is as dynamic as the destinations it serves, redefining upscale lifestyle travel for India and beyond,” added Arjun Baljee, Founder of ICONIQA Hotels & Resorts and President, Royal Orchid Hotels Ltd.

Furthermore, ICONIQA will be integrated into Royal Orchid Hotels’ rapidly growing loyalty program, Regenta Rewards, which currently boasts over 600,000 members and is projected to surpass one million by March 2026. By leveraging data-driven personalization, the program not only enhances guest retention but also delivers tailored experiences that consistently appeal to today’s modern travelers.

The launch of ICONIQA at Mumbai International Airport marks a significant milestone in Royal Orchid Hotels’ mission to redefine hospitality. ICONIQA plans to expand across major Indian cities and select international markets, positioning itself to lead the upscale lifestyle segment while blending global sophistication with India’s rich cultural heritage.

Smartphone startup Nothing raises $200 Mn at $1.3 Bn valuation

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Carl Pei, CEO, Nothing

London-based smartphone company Nothing announced on Tuesday that it has raised $200 million in funding, led by Tiger Global, valuing the startup at $1.3 billion. The fresh capital will help the company advance its plans to integrate artificial intelligence (AI) into its devices.

The global smartphone industry remains dominated by Apple and Samsung, with only a few European players such as Fairphone and HMD Global attempting to break into the market.

Founded in 2020 by Swedish entrepreneur Carl Pei, who previously co-founded OnePlus, Nothing introduced its first smartphone in 2022.

Since its debut, the company has expanded its product line to include earbuds, shipped millions of devices worldwide, and surpassed $1 billion in cumulative sales.

“For AI to reach its full potential, consumer hardware must reinvent itself alongside it,” Pei said in a statement.

“We are starting with smartphones, audio products, and smartwatches … in the future, our operating system will carry into smart glasses, humanoid robots, EVs, and whatever comes next.”

Existing investors including GV, Highland Europe, EQT, Latitude, I2BF, and Tapestry also participated in the latest funding round.

Prior to this, the company had raised nearly $100 million in 2023.

Saudi fintech startup Tamara bags $2.4 Bn funding boost for fintech expansion

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Saudi-based fintech startup Tamara has announced securing a financing package of up to $2.4 billion from global investors, including Goldman Sachs, Citi, and Apollo funds. The funding will support the company’s plans to scale its credit and payment solutions, it said on Monday.

The Shariah-compliant facility will refinance and expand Tamara’s earlier $500 million arrangement. The package consists of an immediate $1.4 billion commitment, with an additional $1 billion available over three years, subject to further approvals.

“The asset-backed facility will increase Tamara’s lending power and help the platform grow well beyond its current 20 million customers,” the company said.

Tamara is one of the Gulf region’s leading buy-now-pay-later (BNPL) providers, enabling consumers to split payments for high-value purchases. While some players in the sector impose late fees, Tamara competes with rivals such as Tabby, another prominent fintech in the space that surged in popularity during the COVID-19 pandemic.

The startup achieved unicorn status in late 2023, reaching a valuation of $1 billion following a $340 million Series C funding round. The round drew participation from major investors, including SNB Capital and Sanabil Investments, the latter owned by Saudi Arabia’s sovereign wealth fund.

Startup India-DPIIT partners with CarDekho group to boost mobility, fintech & emerging tech startups

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Amit Jain, CEO and Co-Founder, CarDekho Group

The Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of Commerce and Industry, has signed a Memorandum of Understanding (MoU) with CarDekho Group, a leading platform for autotech and financial solutions, to bolster India’s startup ecosystem across mobility, fintech, insurtech, and emerging technology sectors.

Through this collaboration, DPIIT and CarDekho Group aim to accelerate the growth of DPIIT-recognized startups by offering strategic mentorship, market access, technological infrastructure, and funding opportunities. Startups will be able to leverage CarDekho’s extensive platforms—including CarDekho, InsuranceDekho, rupyy, BikeDekho, ZigWheels, PowerDrift, Revv, CollegeDekho, and Crack-ED—facilitating collaboration and expanding customer reach.

The partnership also plans to organize innovation challenges under the Bharat Startup Grand Challenge, promoting entrepreneurship in areas such as electric mobility, auto-tech, finance, and sustainability. Startups will gain access to CarDekho’s leadership network for domain-specific guidance, along with co-investment opportunities through the Girnar Vision Fund (GVF). CarDekho brands will collaborate to conduct skill development programs that enhance the entrepreneurial and technical capabilities of founders and their teams.

Speaking at the event, DPIIT Joint Secretary Shri Sanjiv stated that, by combining the expertise of leading corporates with the innovation potential of Indian startups, it is possible to generate impactful solutions in mobility, finance, and sustainability. Furthermore, he noted that the partnership with CarDekho will not only facilitate collaboration and capacity building but also expand market access across India.

CarDekho Group Co-founder and CEO Amit Jain emphasized the company’s commitment to co-creating with India’s most promising startups and driving innovations that positively impact millions of lives. Moreover, he added that by collaborating with DPIIT and integrating with the Startup India platform, CarDekho will be able to mentor, fund, and provide market access to emerging entrepreneurs in mobility, fintech, and related sectors.

The MoU was formally signed by DPIIT Director Dr. Sumeet Jarangal and CarDekho Group Co-founder & CEO Amit Jain, while senior officials from both organizations looked on, marking a significant step in the collaboration.

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