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After Big B’s family office, Hindustan Composites invests in Swiggy Auto ancillary firm Hindustan Composite has acquired a minority stake in Swiggy, investing Rs 5.17 crore for 1,50,000 equity shares. This investment follows Amitabh Bachchan’s family office’s recent minority stake acquisition in Swiggy. Hindustan Composite plans to complete the transaction by November 30, 2024. Swiggy, with a net worth of Rs 9,810 crore as of March 2023, aims to raise up to Rs 3,750 crore through its IPO, alongside an offer for sale of up to Rs 6,664 crore. The company, which filed IPO papers confidentially in May, also introduced a $65 million ESOP liquidity program in July. Swiggy's revenue for FY24's first three quarters was Rs 5,476 crore, with a Rs 1,600 crore loss. #Entrackr #Fintrackr #News #Startup #StartupNews #IndianStartup #HindustanComposite #SwiggyAcquisition #SwiggyIPO #InvestmentNews #StartupInvestments #TechInvestments #BengaluruStartups https://entrackr.com/2024/09/after-big-bs-family-office-hindustan-composites-invests-in-swiggy/

Newton School recorded 14% growth in scale in FY23 Edtech startup Newton School grew 14% in FY23, reaching Rs 24.4 crore in revenue, with 69% from operations. The Bengaluru-based online coding platform's expenses soared to Rs 107 crore, driven by employee benefits, advertising, and legal costs. Losses increased over fourfold to Rs 82.6 crore. The firm raised Rs 190 crore in Series B funding, led by Steadview Capital. #thekredible #news #data #startup #edtech #newtonschool #codingtraining #bengalurustartups #techeducation #edtechsuccess #joborientedcourses #educationinnovation #steadviewcapital https://thekredible.com/blogs/newton-school-recorded-14-growth-in-scale-in-fy23