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Next Instant help burn rises; TCS kicks off Q1 earnings Want this newsletter delivered to your inbox? Also in the letter Instant househelp startups burn
Next Instant help burn rises; TCS kicks off Q1 earnings Want this newsletter delivered to your inbox? Also in the letter Instant househelp startups burn $16-17 million in June as battle for customers intensifies Tell me more Higher spending helped revive demand after a softer May, the executives said. Total orders across the three platforms rose 20% MoM to 3.97 million in June. Snabbit logged 1.51 million bookings, edging past market leader InstaHelp’s 1.5 million. Pronto recorded 960,000 bookings. InstaHelp's AOV fell to Rs 110-115 in June from Rs 140-150 in May. Snabbit's dropped to Rs 90-95 from Rs 120-130 Pronto's slipped to Rs 65-70 from Rs 100-110. Concerns rising Investors are growing uneasy. Rising cash burn, combined with the sector’s limited addressable market, is raising questions about how far the model can scale. The category is most viable in dense urban markets, where high order volumes support efficient fulfilment and worker utilisation.
Expanding into lower-density neighbourhoods is far more difficult, investors said. TCS sees steady Q1 growth amid strong deal momentum By the numbers Net profit was up 5% year-on-year (YoY) to Rs 13,349 crore, from Rs 12,760 crore a year earlier. Profit declined 2.7% sequentially due to a one-time charge related to a trade secrets dispute with DXC Technology and annual wage hikes. Revenue rose 14% YoY to Rs 72,275 crore, aided by growth in key areas of financial services and the US. Total contract value (TCV) was at $9.5 billion. This is down from the preceding quarter’s $12 billion. FY26 marked the highest-ever TCV, with three large deals in the quarter and five in the year. On AI: On AI Yes, and Headcount update Also Read TCS CEO K Krithivasan says AI will not reduce white-collar jobs Alpha Wave’s Kathuria set to exit amid India reset; to float Rs 1,000-crore fund Alpha Wave reset The firm, once an aggressive late-stage new-age tech investor in India, is now expected to slow deployment to about one new deal a year, with cheque sizes of $150 million or more.
Its focus has shifted from broad technology growth bets to private equity-style transactions in traditional businesses. Recent deals include Haldiram Snacks Food, Advanta Enterprises, UPL’s global seeds business, and I-Ven Realty, an Oberoi Realty joint venture. Portfolio, exits and new funds Alpha Wave’s India portfolio includes Cred, Swiggy, Dream11, Lenskart, Delhivery, Dailyhunt, Cars24, OfBusiness and Ola Electric. Lenskart, Delhivery, and Cred have generated liquidity, while Ola Electric listed below its last private valuation and Cars24 and Dailyhunt await exits. Kathuria’s move comes as senior investors across legacy VC firms launch new India-focused funds. Fundamentum launches Rs 2,200 crore growth fund with Nandan Nilekani as anchor LP Fund details Target corpus: Rs 2,200 crore, including a Rs 400 crore greenshoe option. Anchor investor: Nilekani is making his largest investment in a venture capital firm through Fundamentum Fund III. Leadership: The fund will be managed by Aggarwal, Prateek Jain, Mayank Kachhwaha and Sanjay Chaturvedi.
The BriefWire