Flipkart’s food-delivery trial arrives after Zomato and Swiggy have demonstrated that delivering meals can make money. Their food businesses earned ₹606 crore and ₹292 crore in adjusted EBITDA respectively in the June quarter. But building profitability around customers who can afford the delivered bill has left an opening for rivals promising cheaper everyday meals.
The growth numbers help explain that opening. Zomato and Swiggy together handled approximately 148 crore food orders in FY25, up from 133 crore in FY24, an increase of roughly 11%. Separately, Redseer found that bigger baskets contributed nearly half of spending growth in its FY26 year-to-date analysis. The industry was increasingly growing the bill, leaving room for someone to grow ordering frequency.
That is the opportunity Rapido, Flipkart and expanding challenger Magicpin are pursuing. Magicpin explicitly targets students and first-time earners. Rapido brings existing riders and customers; Flipkart can use ONDC to assemble restaurant access. These advantages lower entry costs. They do not automatically make a ₹200 meal profitable to deliver.
Ownly’s reported 50,000 daily Bengaluru orders demonstrate demand. Its ₹200–220 baskets, discounts and waived delivery fees leave monetisation unresolved. Removing restaurant commission reduces the customer’s potential bill, but someone must still pay the rider. Unless repeat customers accept normal charges, investors are financing affordability.
Swish makes a more substantial change by owning kitchens and retaining the food margin. Short trips and controlled preparation can improve unit economics. Yet rent, staff and wastage also become its responsibility. Reported mature kitchens handle around 800 daily orders; new kitchens must earn that demand. Rebel Foods’ QuickiES reportedly closed because of high burn, showing that an existing kitchen network alone cannot guarantee success.
China shows why these experiments matter beyond meals. Alibaba and JD joined a subsidy battle with Meituan, seeking frequent visits that could become purchases across other categories. Platform profitability suffered. Flipkart’s broader shopping business gives it a similar strategic reason to experiment, even before standalone food economics are established.
Public policy pulls both ways. ONDC makes entry easier, while contested gig-worker welfare levies and stronger food-safety enforcement put additional obligations on operators. Cheap delivery must eventually cover these costs too.
Our view is that incumbent profits will face pressure before their leadership does. At Swiggy’s current quarterly food volume by value, a one-percentage-point margin reduction would cost roughly ₹95 crore, almost one-third of food EBITDA. That weakens its capacity to fund diversification. The next winner must make everyday meals cheaper to serve; merely making them cheaper to buy will produce another funding contest.
Let’s go through what else is happening in Indian startup world - Grab your simmering cup of StartupChai.in and unwind with our hand-brewed memes.
“Surveillance Bade Aaram Se”: UIDAI To Ease Aadhaar Face Authentication
UIDAI has launched an SDK and sandbox to make Aadhaar face authentication easier to integrate. The tool was unveiled at Global Fintech Fest 2026 in Mumbai.
Developers can build and test face-based verification in a controlled environment before going live.
Read more here
“Aao Dine Kare”: Flipkart Starts Employee Testing of ‘Eat In’
Flipkart is testing its new ‘Eat In’ food delivery service with its employees in Bengaluru.
The company is taking on Zomato and Swiggy in the food-delivery race.
Read more here
“Ek Se Bhale Do”: PhonePe, Visa Partner For Cardless Payments
PhonePe and Visa are teaming up to make card payments more phone-friendly.
Users can tap, scan QR codes abroad, or pay without carrying a physical card.
Read more here
“Jaao Tumhe Maaf Kiya”: CCI Closes WinZO’s Antitrust Case
CCI has closed WinZO’s antitrust case against Google after India’s online gaming ban changed the landscape.
The regulator made no ruling on WinZO’s allegations, saying the disputed market and remedies no longer exist.
Read more here
“Waqt Rehte Nikal Lo”: TPG Sells Shadowfax Shares
PE giant TPG has sold 80 lakh Shadowfax shares in a ₹200 Cr bulk deal.
Oxbow picked up nearly 48 lakh shares worth ₹119.6 Cr.
Read more here
“Hum First Hum First”: LOHUM Begins Lithium Mining In Zimbabwe
LOHUM has shipped its first lithium ore from Zimbabwe, becoming the first Indian company to mine lithium overseas.
The company aims to produce 30,000 tons of lithium carbonate annually within 2–3 years.
Read more here
“Purana Saal Naya Maal”: Multipl Launches UPI Spending App
Multipl has launched a UPI spending account that invests idle money in liquid mutual funds until it’s spent.
The fintech is targeting 2 lakh users and ₹200 Cr in transactions over the next year.
Read more here
“Kuch Daring Karna Hai”: NPCI Launches Instant Card-Issuing ATMs
DFS and NPCI unveiled new fintech tools to widen credit access and speed up digital onboarding.
The initiatives include open-source Android ATMs, UPI on Credit and AI-powered enterprise workflows.
Read more here
“Achcha, Toh Hum Chalte Hain”: Snap CBO Ajit Mohan To Step Down
Snap’s Chief Business Officer Ajit Mohan will step down, with his departure expected to take effect on December 31, 2026. Snap has elevated EMEA president Ronan Harris as chief commercial officer.
Mohan, earlier Meta India head and Hotstar CEO, said personal reasons drove the move.
Read more here
Maharashtra is working on a state-level framework to tokenise land and property using blockchain.
The proposed DELTA Act could let owners raise funds against otherwise illiquid assets.
Read more here
“Waqt Rehte Sudhar Jaao”: FIU Issues Notices To 15 Crypto Platforms
FIU-IND has issued notices to 15 offshore crypto platforms for PMLA non-compliance.
The move targets platforms serving Indian users without registering under AML rules.
Read more here
“Hum Saath Saath Hai”: Circle To Acquire Tazapay
US-based Circle is acquiring Peak XV-backed Tazapay in a reported $400 Mn all-stock deal.
The move will help Circle expand its stablecoin reach through Tazapay’s banking and payout network.
Read more here
Carrum Mobility has raised $10 Mn from Uber to expand its fleet. The investment will help Uber add premium vehicles and scale Uber Black across India.
Read more here
Quantum cybersecurity startup QNu Labs has raised ₹200 Cr in Series A1 funding. The round takes its total capital raised to ₹375 Cr.
Read more here
IPO-bound RentoMojo has raised ₹376 Cr from 41 anchor investors at ₹404 per share.
Read more here
Alco-bev startup Marmalade has raised ₹6 Cr in seed funding from a clutch of investors.
Read more here
Fashion brand Theater has raised ₹56.25 Cr in Series A funding at a ₹400 Cr valuation. The round was led by Niveshaay, with FirstPort Capital and others participating.
Read more here
Cooling-as-a-service startup Circolife has raised $4.5 Mn (₹40.45 Cr) in pre-Series A funding.
Read more here
Gaming tech startup, ARC has raised ₹10.5 Cr in pre-seed funding led by Chimera VC and MIXI Global Investments.
Read more here
