Beauty and Superstore lead Nykaa’s growth; Shaping the future of logistics

Hello,

India has a message for the tech world–the country is ready and open for international business interests. 

The government is considering fresh subsidies for electronic component-makers and cutting tariffs on imports to help boost local manufacturing, especially of smartphones made by companies like Apple. The IT ministry has proposed providing component makers with at least Rs 23,000 crore in support. 

Definitely something to look out for in the upcoming Budget.

The tech sector has certainly seen an undeniable boom in profitability and valuations. But what does it really take to carve an indelible mark on history as an entrepreneur? If you ask Alok Sama, he’d tell you it’s unyielding determination…with just a touch of ‘crazy’ ambition. 

In a candid conversation, the ex-SoftBank Group CFO weighed in on startup IPOs and entrepreneurial mindsets, and reminisced about his investment banking days by Masayoshi Son’s side and the smear campaign that changed his life. Catch it here. 

Another sector to watch next month is cryptocurrency, especially with Bitcoin now jumping over the $100,000 milestone again with the impending ratification of Donald Trump’s presidential election victory. Microstrategy, the asset’s largest corporate holder, has made its plans for 2025 clear–and it’s going all in on the Bitcoin bets. 

Meanwhile, India is going to have to hold onto its ambitions of becoming one of the few countries to successfully complete an advanced space docking maneuver just a bit longer.

The process needs more validation through simulations before it is ready to be carried out, according to ISRO. The experiment, crucial for satellite servicing, space station operations, and interplanetary missions, would make India the fourth country in the world to achieve such a feat. 

All in a day’s work of conquering the final frontier of space.

In today’s newsletter, we will talk about 

• Beauty and Superstore lead Nykaa’s growth
• Shaping the future of logistics
• Bridging global workforce gaps

Here’s your trivia for today: Which Roman Emperor made the seven-day week official part of the existing Julian calendar?

Ecommerce

Beauty and Superstore lead Nykaa’s growth

Beauty and fashion retailer Nykaa said it expected net revenue growth in the third quarter to be higher than mid-twenties, with a strong performance in the beauty vertical, though demand in the fashion segment continued to remain subdued.

The company said in an exchange filing that the estimated revenue growth was higher than the growth in the gross merchandise value (GMV), indicating positive trend in GMV to net revenue translation.

Q3 outlook:

• For Nykaa’s beauty and personal care segment, GMV growth accelerated compared to previous quarters, with net revenue growth higher than mid-twenties. However, the beauty vertical’s GMV is expected to be in the low thirties, while net revenue from this segment is expected to be higher than mid twenties. 
• Meanwhile, the company’s eB2B distribution business–Superstore by Nykaa, has been expanding rapidly to service around 2,60,000 transacting retailers across 1,100 cities. The segment currently accounts for 8% of beauty vertical’s GMV, as compared to 7% a year ago. 
• Nykaa’s fashion vertical is expected to witness 20% net revenue growth while its net sales value is likely to trend around low to mid-teens driven by strong growth in content, marketing and service related income. 

Funding Alert

Startup: Ajooni Biotech

Amount: Rs 45 Cr

Round: Convertible warrants

Startup: Consint.AI

Amount: Rs 5 Cr

Round: Seed

Startup: Spintly

Amount: Rs 3.5 Cr

Round: Undisclosed

Startup

Shaping the future of logistics

The drone industry is undergoing a major shift, evolving from a niche technology into a critical tool across multiple sectors, including defence, agriculture, healthcare, and logistics.

Recognising the vast potential of drones, Kishan Tiwari and Rimanshu Pandey founded TSAW Drones in 2019. Based in Delhi, the startup is leveraging autonomous drone technology to tackle logistics and agricultural challenges. 

Redefining logistics:

• To enhance supply chain operations, TSAW develops Level 5 autonomous drones for last-mile logistics and UAV Traffic Management systems for safe and efficient operations. It also provides agricultural drone solutions to support precision farming and optimise resource use.
• The startup operates drones on A-to-B delivery routes, such as transporting medical supplies between hubs and distribution points in Hyderabad. Using a per-kilometer, per-sample charge model, TSAW has significantly reduced operational costs over time. 
• TSAW drones can carry payloads of up to 100 kg and fly as high as 15,000 feet. Preparing for rapid expansion, the company aims to deploy 100 drones within the next 8–12 months.  To date, it has served seven clients, delivered 43,256 packages, completed 293.8 flight hours, and covered 25,045 kilometers.

Jobs

Bridging global workforce gaps

Mayank Kumar, an education leader and co-founder of upGrad, and Ayush Mathur, an early team member at hospitality and travel-tech firm OYO, have come together as co-founders to launch BorderPlus, a talent mobility platform connecting blue-collar workers to global opportunities.

The duo are reuniting after more than a decade since their time at the Parthenon Group, as they aim to bridge workforce gaps while focusing on equitable access for workers from emerging markets like India.

Global opportunities:

• BorderPlus will initially focus on the healthcare sector in Germany, with plans to expand into other areas such as hospitality, retail, teaching, construction/logistics, and trucking, as well as explore additional geographies in the future.
• According to the co-founders, the first pilot batch of about 10 candidates has started. The startup plans to launch multiple batches every month across various regions, aiming for 20-30 candidates per batch. Initially, it will run batches once a month, but it aims to scale up to weekly batches.
• The company will not earn money directly from individuals but from corporate clients who will pay for the service. This would result in approximately half a billion dollars in revenue, translating to an EBITDA pool of $100 million to $150 million, with an average margin of 25%, according to Kumar.

News & updates

• Fusion: Disney is close to a deal that will combine Hulu + Live TV with sports streaming service FuboTV, which plans to drop its litigation against the formation of Venu Sports. A deal is expected to be announced Monday morning.
• Legal avenue: Nippon Steel Corp. and United States Steel Corp. jointly filed lawsuits in a last-ditch effort to preserve the planned merger of the companies, which was blocked last week by President Joe Biden.
• Bid war: U.S. private equity fund KKR said on Monday it has asked Fuji Soft to make a court filing to stop what it said was Bain Capital's violation of a non-disclosure agreement amid Bain and KKR's acquisition battle for the software maker.

Which Roman Emperor made the seven-day week official part of the existing Julian calendar?

Answer: Constantine the Great. 

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