Swiggy Q1 losses narrow; Groww founders' new fund
Swiggy Q1 losses narrow; Groww founders plan new fund Want this newsletter delivered to your inbox? Also in the letter Swiggy losses narrow as Q1FY27
Swiggy Q1 losses narrow; Groww founders plan new fund Want this newsletter delivered to your inbox? Also in the letter Swiggy losses narrow as Q1FY27 revenues grow 37% Financials Net loss: Down 34% year-on-year (YoY) to Rs 791 crore from Rs 1,197 crore. Revenue from operations: Up 37% YoY to Rs 6,812 crore from Rs 4,961 crore. Total income: Up 39% to Rs 7,023 crore. Total expenses: Up 25% YoY to Rs 7,813 crore. Tell me more Also Read Instamart operating-level breakeven hinges on order volumes expanding 2.5x Yes, but New driver Also Read Competition poses no risk to food delivery, company in a strong position: Swiggy Groww founders plan Rs 400-500 crore fund for consumer, deeptech startups The setup Lalit Keshre, Ishan Bansal, Harsh Jain and Neeraj Singh will be general partners, supported by a small dedicated investment team.
The vehicle will deploy capital over two to three years and write larger cheques than the first fund, which invested up to Rs 5 crore. Consumer remains the core thesis, while deeptech bets will cover AI and other frontier technologies that require longer gestation periods. Why it matters The founders are institutionalising their angel investing without bringing in external limited partners. The move follows a liquidity event for the promoter group. In May, the promoter group sold stake worth Rs 250-260 crore. Groww founders join a list of founder-led platforms such as Titan Capital, but differs by remaining entirely funded by Groww’s four cofounders.
Will aim to make Groww India's largest wealth platform: CEO Lalit Keshre Affluent users: Doubled to around 400,000 in FY26 from 200,000 a year earlier. (Groww defines affluent users as customers with at least Rs 25 lakh in assets on the platform.) Revenue from affluent users: Up to Rs 492 crore from Rs 230 crore. Average annual revenue per affluent user: Up 21%
to Rs 16,604. Not retiring, will continue to look to add value after Infosys tenure ends: Salil Parekh Highlights at Infosys What’s next On transition Also Read Infosys Q1 profit rises 12% and revenue 14%; Ashiss Kumar Dash to take charge next fiscal Other Top Stories By Our Reporters Sarvam new appointment Kissht expects to beat 40% growth target Global Picks We Are Reading
The BriefWire