Welcome to the Backstage with Millionaires weekly Indian startup news show, hosted by Caleb Friesen and part of Zerodha’s Zero1 Network. This week, Curefoods acquires pan-India rights to Krispy Kreme, OYO wins a major legal battle against Zostel, Uber enters the heavy goods delivery space with Courier XL, Flipkart pulls back its quick commerce expansion, Zepto launches a paid analytics platform for brands, and Indian startups raise $100 million.
0:00 Curefoods Buys Krispy Kreme India
2:57 OYO Beats Zostel in Delhi HC
4:25 Uber Launches Courier XL to Compete With Porter
5:28 Flipkart Minutes Limited Expansion
6:21 Zepto Atom
7:39 Quick News
8:13 Indian Startup Funding News
Curefoods Buys Krispy Kreme India
Curefoods has acquired exclusive pan-India rights to operate Krispy Kreme. This five-year-old Indian startup will now control Krispy Kreme’s 11 existing outlets in Delhi NCR—including Worldmark Aerocity, Ambience Mall Gurgaon, and Mall of India Noida. With this acquisition, Curefoods will scale to over 100 Krispy Kreme outlets across India, including dine-in and delivery kitchens.
Krispy Kreme, founded 87 years ago in the US, has faced stagnant US revenues and a 15% dip in Q1 2025. In India, despite launching in 2013, Krispy Kreme never achieved mass appeal. Curefoods, on the other hand, began as EatFit under Cult Fit and pivoted to a multi-brand food business. This Krispy Kreme deal positions Curefoods strongly for its planned 2026 IPO. Curefoods founder Ankit Nagori is betting big on comfort food, and this acquisition could boost Curefoods' numbers ahead of its public debut.
Oyo Beats Zostel in Delhi HC
The Delhi High Court has ruled in favor of OYO, stating that Zostel’s claim to a 7% stake is legally unenforceable. The dispute stems from a failed 2015 merger where Zostel was to transfer operations to OYO in exchange for equity. Zostel alleged a breach after OYO didn’t issue shares, but OYO maintained that no final agreement was signed.
In 2021, an arbitration panel favored Zostel, causing IPO concerns for OYO. Now, the Delhi High Court says the tribunal overstepped, making the stake award invalid. This removes a major legal hurdle for OYO, as it eyes a public listing. OYO’s position is now stronger, with the court confirming no binding agreement existed with Zostel.
Uber Launches Courier XL to Compete With Porter
Uber has launched Courier XL in Delhi NCR and Mumbai to move packages up to 750 kg using goods carriers. This expands beyond Uber’s original two-wheeler-based courier service. Uber is now competing directly with Porter in the heavy delivery space.
Courier XL targets demand from households and small businesses, especially for longer urban deliveries. Uber’s logistics vertical grew 50% year-on-year in 2024, and Courier XL is expected to accelerate that growth. Uber’s new logistics strategy reflects its focus on diversifying revenue and deepening presence in urban India.
Flipkart Minutes Limited Expansion
Flipkart is scaling back its quick commerce push, limiting Flipkart Minutes to 6–8 top cities. Originally planning 800 dark stores by 2025, Flipkart has opted to focus on Delhi NCR, Mumbai, and Bengaluru, where 90% of demand comes from.
With Flipkart currently burning ₹340–₹350 crore per month, the decision to reduce expansion aligns with its 2026 IPO goals. Flipkart Minutes now runs 300 dark stores across 14 cities, but the focus is shifting to deeper penetration in high-demand metros.
Zepto Atom
Zepto has launched Zepto Atom, a paid analytics service for consumer brands. The platform offers real-time, hyperlocal insights on sales, impressions, and conversions across Zepto’s network. Brands can monitor product performance by pin code and adjust pricing, distribution, or ad spend accordingly.
A standout feature is Zepto GPT, an AI assistant trained on internal data that offers strategic answers to brand questions. Zepto Atom also tracks customer retention and product visibility. Zepto aims to challenge Nielsen and Kantar in India’s ₹1,000 crore consumer insights market with this offering.
Quick News
BharatPe CTO Pankaj Goel has resigned less than two years after joining.
Gameskraft is shutting down poker platform Pocket52, with operations ceasing May 30th.
Urban Company has partnered with noon to launch home services in UAE and Saudi Arabia.
Indian Startup Funding News
Indian startups raised $100 million this week, down from $370 million last week. Key rounds include:
Farmley (Noida): $40M Series C
Hocco (Ahmedabad): $10M Series B
LUZO (Mumbai): $550K Seed
NapTapGo (Noida): ₹2 crore Pre-Seed
Be Clinical: ₹2 crore Seed
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