SoftBank Gets Hit, Zostel-Oyo Saga, and Dream Sports Bets Big

SoftBank’s Vision Fund II felt a blow in Q4 as Ola Electric and Swiggy’s underperformance dragged down its portfolio value. Meanwhile, the Zostel-OYO saga took another twist as the Delhi HC overturned an arbitration ruling in favor of OYO, closing the door on the failed merger. On a more bullish note, Dream Sports is pouring $50 Mn into Cricbuzz and Willow TV, betting big on cricket’s digital future in India and beyond. Besides, there’s also Startup Spotlight to savor.

Grab your simmering cup of StartupChai.in and unwind with our hand-brewed memes.

“Maamla Legal Hai”: In Zostel-OYO Failed Merger, Delhi HC Sets Aside Arbitration Tribunal’s Ruling

The long-running Zostel-OYO saga just took a turn — the Delhi HC has junked the arbitration ruling that had earlier favoured Zostel.

The court sided with OYO, noting it didn’t breach any agreement since the 2015 acquisition talks never turned binding. Looks like OYO’s merger ghosts from the past can finally rest—at least for now.

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”Mera Bhari Nuksan Ho Gaya”: Ola Electric, Swiggy Hurt SoftBank’s Vision Fund II In Q4

SoftBank’s Vision Fund II took a hit in Q4 FY24 as Ola Electric and Swiggy dragged down its public portfolio value by 21.7%.

Ola’s underwhelming market performance led to a $46 Mn loss, with the EV maker now valued below its original investment. Still, Swiggy offered some comfort — SoftBank’s holding in the foodtech unicorn is sitting on $218 Mn in gains despite the overall slump.

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“Aur Ye Aayi Googly”: Dream Sports To Invest $50 Mn In Times Internet-Owned Cricbuzz & Willow TV 

Dream Sports is bowling a $50 Mn pitch into Times Internet's Cricbuzz and Willow TV to up its game in cricket content and broadcasting. With a minority stake, it’s eyeing AI-powered fan experiences and slick integrations like live stats, commerce, and interactive match streams.

This comes right after its homecoming—Dream Sports moved its base from the US to India earlier this year via a reverse merger.

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1. WhiteHat Jr founder Karan Bajaj is back in the game with $16 Mn for Complement1, his new cancer care startup. The platform blends tech and lifestyle medicine to support patients and high-risk individuals, marking a bold pivot from edtech to healthtech.
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2. BlueStone has secured INR 40 Cr in debt funding from BlackSoil and Caspian Impact ahead of its planned IPO. The jewellery brand, which filed for a INR 1000 Cr listing in December, raised the sum via 800 non-convertible debentures.
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3. ReelSaga, founded by the ex-Truebil team, has bagged $250K from Nazara Technologies to craft mobile-first short fiction for India and beyond. With eyes on Southeast Asia and the Middle East, the startup is building an app to bring binge-worthy stories to your phone.
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4. ContraVault AI has raised INR 5.1 Cr in seed funding to bring smart automation to India’s tender and RFP ecosystem. Backed by Titan Capital and a lineup of marquee investors, the startup now gears up to scale sales and sharpen sector-specific insights.
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5. Third Bracket has raised INR 5 Cr in seed funding from HNIs to supercharge its AI-driven hiring platform. With plans to scale operations and cut bias in recruitment, the next-gen startup is eyeing a smarter, fairer future for enterprise hiring.
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“Waah Kya Scene Hai”: Mudgar Club Is Reviving India’s Ancient Workout Culture

Ever seen a wooden club swing its way into Shark Tank? Meet Mudgar Club—founded by Haryana’s Suhag brothers—on a mission to revive India’s ancient strength training with handcrafted gadas and mudgars.

From yoga mats to mahogany clubs, they’ve turned traditional tools into a modern fitness movement, with Ritesh Agarwal backing their swing.

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