The cost of Swiggy’s growth; Taking the pain out of healthcare

Swiggy saw its losses almost double in Q4, dragged down by heavy spending on quick commerce. IntegriMedical is eliminating risks associated with traditional injections with its N-FIS technology. Saleswomentoring aims to help women to advance and thrive in sales.

May 10, 2025 - 03:00

The cost of Swiggy’s growth; Taking the pain out of healthcare

Hello,

Business, it is said, is war without bullets.

Amid the tense India-Pakistan conflict, investors are betting big on India’s military prowess, with some defence stocks seeing a double-digit surge on the bourses.

Drone maker Ideaforge Technology’s shares hit the upper 20% circuit on Friday. Meanwhile, the shares of Bharat Dynamics, the manufacturer of ammunition and missile systems, rose 5.79% on the NSE as it ramps up production.

The Indian financial ecosystem is erring on the side of caution.

The Department of Financial Services has asked banks to strengthen their internal systems to deal with any cybersecurity threats, ensure uninterrupted services, and maintain enough cash in ATMs.

Also, the Department for Promotion of Industry and Internal Trade has expanded the Credit Guarantee Scheme for Startups, doubling the guarantee cover limit to Rs 20 crore per borrower and increasing the guarantee coverage.

From India’s financial landscape to the Vatican’s.

The newly elected Pope Leo XIV has a big task ahead of cleaning up the Holy See’s finances, and he may as well use his degree in mathematics.

ICYMI: When Pope Leo XIV visited India.

Elsewhere, asset management firm Vanguard has pegged Ola parent’s valuation between $1.4-1.5 billion, trimming down the value of its holdings amid rising competition.

In today’s newsletter, we will talk about

The cost of Swiggy’s growth
Taking the pain out of healthcare
Breaking glass ceilings in sales

Here’s your trivia for today: Which movie holds the record for featuring the most number of extras?

Quick Commerce

The cost of Swiggy’s growth

Food delivery and quick commerce platform Swiggy saw its losses almost double in the fourth quarter as heavy spending on quick commerce further dragged down the company’s bottom line.

Swiggy Instamart, which competes with quick commerce unicorn Zepto and market leader Blinkit, more than doubled its operating revenue to Rs 689 crore, rising for the third consecutive quarter. However, the growth came at a cost, with the segment’s losses widening to Rs 770 crore from Rs 272 crore in the last year and Rs 527 in the previous quarter.

Widening losses:

Sriharsha Majety-led Swiggy saw its losses widen to Rs 1,081 crore from Rs 553.6 crore in the previous year. On a quarter-over-quarter basis, the company’s losses grew by 35% from Rs 799 crore.
During the quarter, Swiggy’s Dineout business turned profitable with earnings of Rs 23 crore, an improvement from a loss of Rs 8 crore in the previous quarter.
Additionally, the company is evaluating a potential shift to an inventory-led model for its quick commerce arm but is unlikely to make an inorganic move in the near term, according to group CFO Rahul Bothra.

Top Funding Deals of the Week

Startup: PB Healthcare Services

Amount: $218M

Round: Seed

Startup: Routematic

Amount: $40M

Round: Series C

Startup: Celcius Logistics

Amount: Rs 250 Cr

Round: Series B

Startup

Taking the pain out of healthcare

Needle-based injections remain the dominant method of drug delivery—even as safer, more comfortable alternatives have begun to emerge.

Pune-based medtech startup IntegriMedical is working to take the dread out of necessary injections. Their answer: a needle-free, spring-driven device that administers drugs through the skin using a high-pressure jet, minimising trauma and eliminating the risks associated with traditional injections.

Painless injections:

The Needle-Free Injection System (N-FIS) is built around a stainless-steel piston mechanism that delivers medications intramuscularly or subcutaneously in under a tenth of a second. The device uses a disposable cartridge with an orifice finer than a strand of human hair to create a precise jet stream.
IntegriMedical operates on a B2B model, generating revenue through the sale of its N-FIS devices and their disposable components, such as cartridges and adapters. The company’s go-to-market strategy is focused on healthcare providers.
From a bootstrapped beginning—funded by founders, friends, and family with an investment of around $4-5 million—IntegriMedical is now backed by the Serum Institute of India, which acquired a 20% stake in May 2024.

Woman Entrepreneur

Breaking glass ceilings in sales

According to a LinkedIn study, women constitute 19% of the sales workforce in India, with only 13% holding sales leadership positions.

With her venture, Saleswomentoring, Chitra Singh is working to break the very glass ceiling she spent nearly 30 years pushing against. What began with barely 200 members in 2020 has grown into a 2,000-strong army of sales professionals.

Closing the sales gender gap:

With the help of 10 mentors, Saleswomentoring aims to power women’s sales leadership through learning programmes, customised hiring, expert mentorship and a supportive community.
Saleswomentoring has also introduced certification programmes for women in sales at every level, one-on-one coaching for senior women leaders, and a programme for founders and startup owners.
Singh aims to start a sales university in the future, expand Saleswomentoring to include more partnerships and integrate AI into the mentoring process. Most importantly, she wants to encourage women who have dropped out of the sales force to return.

News & updates

Behind bars: Alex Mashinsky, the founder and former chief executive of the cryptocurrency lender Celsius Network, was sentenced to 12 years in prison after pleading guilty in December to securities fraud and commodities fraud. US federal prosecutors said he misled customers about Celsius’s safety and artificially inflated the value of Celsius’s proprietary token, Cel.
Philanthropy: Microsoft founder Bill Gates said he intends to give away 99% of his vast fortune over the next 20 years. Gates said he would accelerate his giving via his foundation, with plans to end its operations in 2045.
Trade talks: India has proposed reducing its average tariff differential with the US to less than 4%—down from the current 13%—as part of ongoing negotiations to secure exemption from existing and future tariff hikes under former US President Donald Trump’s administration, two officials told Reuters.

Which movie holds the record for featuring the most number of extras?

Answer: Gandhi, directed by Richard Attenborough. It featured 300,000 extras in the funeral scene.

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