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The Latest Breaking News from Zepto

Groww investors reap bumper returns; Lightspeed’s India rethink

Happy Wednesday! Groww delivered strong gains to early investors after the IPO lock-in expired. This and more in today’s ETtech Morning Dispatch.

The Economic Times

Lightspeed eyes new India fund, plans smaller corpus of $300–350 million amid AI focus

The venture capital firm, which was initially looking to raise as much as $500 million for its fifth India fund, has now cut the target size to around $300-350 million, the people said, requesting anonymity as the discussions are private.

The Economic Times

Why India is asking its super-fast delivery services to slow down

Quick-commerce companies start removing ‘10-minute delivery’ promises after labour ministry raises worker safety concerns

The Independent UK

From analysis to the latest developments in health,
read the most diverse news in one place.

Get your Milton Friedman and Ayn Rand right: Zomato and Blinkit aren’t capitalism

Late last week, I wrote a piece responding to Deepinder Goyal’s tweets on how he views India’s gig economy. It went viral – and as is inevitable with anything that does, it brought with it an equal measure of bouquets and brickbats.

Newslaundry

Sweat, surveillance, and silence: Lives at the margins of India’s quick e-commerce boom

At 6 am, with the sun just rising over Delhi, Akash Singh* is already on the move. A Zepto delivery worker, he zigzags between Laxmi Nagar and Mayur Vihar, chasing the shifting incentive targets set by the app.

Newslaundry

Aussie 'FinFra': Magic wand for technology trailblazers

Australia faces a deadline for decommissioning the decades-old payments system for handling wages, bills and welfare as the velocity of the economy increases.

AAP

Only three e-commerce platforms have minimum wage policy: study

Grim working conditions for India's gig workers revealed by Fairwork India's fifth annual study across 12 e-commerce platforms. Only three platforms had minimum wage policy, two had external audits to check for biases, and none provided living wage. Five Fairwork principles examined, with two platforms not receiving any points. No…

The Hindu

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Innovation and exploitation: India’s e-commerce boom threatens to upend local businesses and workers’ rights

While online shopping explodes in the world’s biggest country, traditional companies are struggling to adapt

The Guardian - UK

Business NSW takes aim at major parties' lack of vision for startups, calls for venture capital fund

Business NSW criticises the Coalition and Labor for a lack of bold ideas for business in the lead up to the election, saying that startups are slipping through the cracks.

ABC News

Delivery boy donates blood in time to save unknown pregnant woman’s life in Hyderabad

MBA graduate turns saviour has donated blood 15 times

The Hindu

Delhi: Man arrested for delivery executive’s death in accident

NEW DELHI: Police on Monday said they have arrested a man who had rammed the bike of 19-year-old Zepto delivery executive killing him in Dwarka last week. The car that the man was driving has also been seized, senior police officers said. The accused worked at a well-known tech firm.

The Times of India

As Indians expect groceries in 10 mins, delivery agents struggle

Delivery agents speed on their bikes, take wrong turns, risk their lives – all to deliver groceries in 10 minutes.

People

Alexander Graham Bell

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LightSpeed Venture Partners

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