Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.
Top Stories This Week
(L-R) Roman Saini and Gaurav Munjal, cofounders, Unacademy
Unacademy founders Munjal, Saini set to exit, shift focus to AirLearn: Gaurav Munjal and Roman Saini, cofounders of Unacademy, are preparing to depart from the SoftBank-backed edtech firm as it doubles down on its offline coaching pivot. Sumit Jain will take over as CEO.
Also Read: Unacademy founders’ shift to AirLearn, Jain’s offline role are strategic: Gaurav Munjal to employees
Ola Electric cedes EV two-wheeler market share to rivals: Ola Electric, once the market leader in India’s electric two-wheeler segment, fell to third position in May, ceding ground to legacy rivals TVS Motor and Bajaj Auto. The company’s market share dropped to 20% during May 1–26, down from 22.1% in April, and a sharp decline from over 50% just 13 months ago.
Ola Electric loss doubles in March quarter: The electric scooter maker reported a net loss of Rs 870 crore for the quarter ended March, double than Rs 416 crore in Q4 FY24.
Sales dropped during the period, with operating revenue dropping 62% to Rs 611 crore.
Dhan on the way to unicorn club with $200 million fundraise: Online investment platform Dhan is set to close a $190–200 million funding round led by ChrysCapital, with participation from Alpha Wave and Japanese financial services giant MUFG, Sunil Bharti Mittal’s family office and existing investor Dream11 founder Harsh Jain.
Groww confidentially files draft papers for IPO: Online investment platform Groww has moved a step closer to its Dalal Street debut by confidentially filing its draft red herring prospectus (DRHP) with the market regulator, as per a public notice on March 26.
Nykaa Q4 profit doubles; revenue up 24%: FSN Ecommerce Ventures, the parent company of beauty etailer Nykaa, posted a sharp rise in profit at Rs 19 crore for the March quarter, driven by stronger sales and improving margins.
Influencers, VC money fuel India’s booming supplements market: From collagen powders and gut health liquids to magnesium tablets and hormone-balancing pills, wellness supplements have become lifestyle staples in post-pandemic India. However, as demand surges, so do questions around efficacy and oversight.
Quick commerce is 20% of ecommerce: Walmart CEO | Quick commerce now accounts for 20% of India’s ecommerce market and is growing at an annual rate of 50%, Walmart International CEO Kathryn McLay said at the Bernstein Strategic Decisions Conference.
Flipkart reports up to 25% growth amid ecommerce slowdown: Flipkart group CEO Kalyan Krishnamurthy outlined the company’s growth trajectory and IPO plans at an internal town hall on Monday.
Also Read: Myntra receives Rs 1,063 crore cash infusion from Singapore-based parent entity
Fintech News
(L-R) Harshil Mathur, Shashank Kumar, cofounders, Razorpay
Razorpay completes reverse flip from US to India: Razorpay has completed the domicile shift of its parent entity from the US to India with corporate affairs ministry’s approval as it prepares to list in the country.
BNPL hits the brakes as fintechs pivot to EMI loans and traditional consumer credit: Buy-now, pay-later (BNPL) products are losing momentum amid regulatory tightening and growing concerns over credit quality.
Online payment aggregators focus on anti-fraud tech to up revenues: Payment companies are transforming their in-house fraud detection tools into software-as-a-service (SaaS) products for banks and fintechs, unlocking a new source of recurring revenue.
ETtech Done Deals
Drools turns unicorn after Nestlé SA picks up minority stake: Homegrown pet food brand Drools turned unicorn after Swiss packaged food giant Nestlé SA acquired a minority stake for an undisclosed amount.
TPG NewQuest, A91 back Citykart in Rs 538 crore round: Value retail chain Citykart raised Rs 538 crore in a funding round led by TPG NewQuest and A91 Partners, valuing the company at around Rs 1,400 crore
IT Corner
K Krithivasan, CEO, TCS
TCS paid CEO K Krithivasan Rs 26.5 crore in FY25: Tata Consultancy Services (TCS) chief K. Krithivasan’s total compensation increased 4.6% to Rs 26.5 crore in financial year 2025, according to the company’s latest annual report released Wednesday.
TCS to add AI agents alongside human workforce: N Chandrasekaran: As IT services transition to autonomous operations, Tata Consultancy Services (TCS) is aiming to add a large pool of AI agents working along humans, said N Chandrasekaran, Chairman, TCS.
Quantum computing may soon become a scaled solution: Wipro: IT services firm Wipro expects quantum computing to become a scaled solution, probably by the end of this financial year, its chief technology officer (CTO) Sandhya Arun told us.
Eye on AI
Top AI firms pivot to profitability track leaving price wars behind: Artificial intelligence (AI) companies are shifting focus to profitability after slashing model prices by as much as 65–90% last year, causing cost concerns for Indian startups.
Operation Coding War: AI majors battle for a piece of software development pie | A fresh front has opened in the AI wars, as global tech giants —Google, Microsoft and OpenAI — and nimble startups race to dominate the future of software development.
Top Stories This Week
Unacademy founders Munjal, Saini set to exit, shift focus to AirLearn: Gaurav Munjal and Roman Saini, cofounders of Unacademy, are preparing to depart from the SoftBank-backed edtech firm as it doubles down on its offline coaching pivot. Sumit Jain will take over as CEO.
Also Read: Unacademy founders’ shift to AirLearn, Jain’s offline role are strategic: Gaurav Munjal to employees
Ola Electric cedes EV two-wheeler market share to rivals: Ola Electric, once the market leader in India’s electric two-wheeler segment, fell to third position in May, ceding ground to legacy rivals TVS Motor and Bajaj Auto. The company’s market share dropped to 20% during May 1–26, down from 22.1% in April, and a sharp decline from over 50% just 13 months ago.
Ola Electric loss doubles in March quarter: The electric scooter maker reported a net loss of Rs 870 crore for the quarter ended March, double than Rs 416 crore in Q4 FY24.
Sales dropped during the period, with operating revenue dropping 62% to Rs 611 crore.
Dhan on the way to unicorn club with $200 million fundraise: Online investment platform Dhan is set to close a $190–200 million funding round led by ChrysCapital, with participation from Alpha Wave and Japanese financial services giant MUFG, Sunil Bharti Mittal’s family office and existing investor Dream11 founder Harsh Jain.
Groww confidentially files draft papers for IPO: Online investment platform Groww has moved a step closer to its Dalal Street debut by confidentially filing its draft red herring prospectus (DRHP) with the market regulator, as per a public notice on March 26.
Nykaa Q4 profit doubles; revenue up 24%: FSN Ecommerce Ventures, the parent company of beauty etailer Nykaa, posted a sharp rise in profit at Rs 19 crore for the March quarter, driven by stronger sales and improving margins.
Influencers, VC money fuel India’s booming supplements market: From collagen powders and gut health liquids to magnesium tablets and hormone-balancing pills, wellness supplements have become lifestyle staples in post-pandemic India. However, as demand surges, so do questions around efficacy and oversight.
Quick commerce is 20% of ecommerce: Walmart CEO | Quick commerce now accounts for 20% of India’s ecommerce market and is growing at an annual rate of 50%, Walmart International CEO Kathryn McLay said at the Bernstein Strategic Decisions Conference.
Flipkart reports up to 25% growth amid ecommerce slowdown: Flipkart group CEO Kalyan Krishnamurthy outlined the company’s growth trajectory and IPO plans at an internal town hall on Monday.
Also Read: Myntra receives Rs 1,063 crore cash infusion from Singapore-based parent entity
Fintech News
Razorpay completes reverse flip from US to India: Razorpay has completed the domicile shift of its parent entity from the US to India with corporate affairs ministry’s approval as it prepares to list in the country.
BNPL hits the brakes as fintechs pivot to EMI loans and traditional consumer credit: Buy-now, pay-later (BNPL) products are losing momentum amid regulatory tightening and growing concerns over credit quality.
Online payment aggregators focus on anti-fraud tech to up revenues: Payment companies are transforming their in-house fraud detection tools into software-as-a-service (SaaS) products for banks and fintechs, unlocking a new source of recurring revenue.
ETtech Done Deals
Drools turns unicorn after Nestlé SA picks up minority stake: Homegrown pet food brand Drools turned unicorn after Swiss packaged food giant Nestlé SA acquired a minority stake for an undisclosed amount.
TPG NewQuest, A91 back Citykart in Rs 538 crore round: Value retail chain Citykart raised Rs 538 crore in a funding round led by TPG NewQuest and A91 Partners, valuing the company at around Rs 1,400 crore
IT Corner
TCS paid CEO K Krithivasan Rs 26.5 crore in FY25: Tata Consultancy Services (TCS) chief K. Krithivasan’s total compensation increased 4.6% to Rs 26.5 crore in financial year 2025, according to the company’s latest annual report released Wednesday.
TCS to add AI agents alongside human workforce: N Chandrasekaran: As IT services transition to autonomous operations, Tata Consultancy Services (TCS) is aiming to add a large pool of AI agents working along humans, said N Chandrasekaran, Chairman, TCS.
Quantum computing may soon become a scaled solution: Wipro: IT services firm Wipro expects quantum computing to become a scaled solution, probably by the end of this financial year, its chief technology officer (CTO) Sandhya Arun told us.
Eye on AI
Top AI firms pivot to profitability track leaving price wars behind: Artificial intelligence (AI) companies are shifting focus to profitability after slashing model prices by as much as 65–90% last year, causing cost concerns for Indian startups.
Operation Coding War: AI majors battle for a piece of software development pie | A fresh front has opened in the AI wars, as global tech giants —Google, Microsoft and OpenAI — and nimble startups race to dominate the future of software development.
You may also like
M5 crash LIVE: Major motorway shut in both directions sparking traffic chaos
Inside Man Utd's doomed Asia trip with players running out of money and awkward bus parade
Inside Dani Dyer's sweet bond with actor dad Danny as he has touching role at her wedding
Colombia withdraws statement offering condolences to Pak: Tharoor
Credit Card: Making minimum payment of credit card bills can affect your credit score, understand the complete math..
