BigBasket elevates Amit Nanda to CEO as founder Hari Menon steps aside
Tata-owned BigBasket names Amit Nanda CEO, succeeding co-founder Hari Menon, as the grocery platform recalibrates amid intensifying quick-commerce pressure. The transition lands in a week Indian startups raised $432M across 21 deals, with consumer/D2C names like Innovist (L'Oreal), TruNativ and Foodstories drawing capital.
What happened
Weekly Indian startup roundup: $432M raised across 21 deals; BigBasket names Amit Nanda CEO succeeding Hari Menon; L'Oreal acquires majority in Innovist;
Key facts
- $432M weekly funding
- $53M SolarSquare Series C
- $40M Vetic
- $30M TruNativ
- Innovist valued $350-450M
- PhonePe 46.3% UPI share
- 10.73B PhonePe transactions
- Jio IPO Rs 30,000-40,000 cr
- Turtlemint IPO Rs 883 cr
Why this matters
Watch for portfolio rationalization, category JVs, or a BBNow-led quick-commerce push under Nanda—any of which could reshape partnership and M&A windows across India's grocery and consumer stack.