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Time of India
23-05-2025
- Automotive
- Time of India
Top-deck churn at Tata Digital; Rapido's cash burn rises
Top-deck churn at Tata Digital; Rapido's cash burn rises Want this newsletter delivered to your inbox? Also in the letter: ETtech Exclusive: Naveen Tahilyani steps down as Tata Digital CEO after just a year at the helm New gig: Uphill task: Also Read: Striking out: Laying down strategy: Refocused efforts on core consumer brands like Croma and Tata Cliq. Paused backend integration of BigBasket, 1mg and Tata Cliq to improve the Neu user experience. Approved 1mg's offline expansion. Top deck churn: Rapido hits $1.25 billion in gross order value for FY25, but cash burn accelerates Why it matters: By the numbers: 3–3.5 million daily orders across all segments, including hyperlocal logistics 40% market share across ride-hailing form factors Cash burn narrowed to Rs 17 crore in Q2 FY25, but is now climbing again Four-wheeler service launched in December 2023; currently expanding Between the lines: Flashback: Sponsor ETtech Top 5 & Morning Dispatch! Why it matters: The opportunity: Reach a highly engaged audience of decision-makers. Boost your brand's visibility among the tech-savvy community. Custom sponsorship options to align with your brand's goals. What's next: Ola Electric gets board nod to raise Rs 1,700 crore debt Driving the news: Mounting troubles: Other Top Stories By Our Reporters Shortlisted bidders clear IndiaAI GPU tender technical round: Bengaluru downpour hits online deliveries: Krafton backs hyperlocal community app Shuru: IPO-bound InMobi doubles down on AI: Global Picks We Are Reading Happy Friday! Top-level exits continue at Tata Digital with CEO Naveen Tahilyani abruptly ending his year-long stint. This and more in today's ETtech Morning Dispatch.■ Ola seeks fresh funds■ Bengaluru rains woes■ InMobi's AI betL-R, N Chandrasekaran, chairman, Tata Sons and Naveen Tahilyani, former CEO, Tata DigitalIn a surprise move, Tata Digital CEO and MD Naveen Tahilyani resigned just a year after being handpicked by Tata Sons chairman N Chandrasekaran to lead the group's digital commerce insurance giant, Prudential PLC, announced that Tahilyani will join as regional CEO for India, Africa, the Philippines, Cambodia, Laos, and Myanmar, and will also head the company's health at Tata Digital, finance chief Hardeep Singh Guru is tipped to take the top a Tata veteran and former CEO of Tata AIA Life Insurance, was brought in to enforce execution rigour, financial discipline, and strategic focus across Tata Digital's fragmented portfolio, which includes BigBasket, 1mg, Tata Cliq, and the Neu app. He was also tasked with reviving the struggling role diminished recently as the Tata Group prepared BigBasket and 1mg for independent fundraising and eventual IPOs. 'Tata Digital became less relevant as a consolidated unit, with plans to raise capital together falling through,' a source told joined as senior executives continued to exit. Since Myntra founder Mukesh Bansal's departure in 2022 , Tata Digital has experienced multiple leadership changes, including during Tahilyani's tenure.L-R, Rishikesh SR, Aravind Sanka, Pavan Guntupalli, founders, RapidoUrban mobility startup Rapido has increased its gross order value (GOV) by 2.5 times (2.5x) to $1.25 billion in FY25, up from $500 million the previous year, according to people familiar with the surge is attributed to new service offerings and aggressive city-by-city expansion. However, this growth is also pulling the company further from profitability, with monthly cash burn increasing to Rs 40-45 crore this year.'The burn is likely to increase further as Rapido steps up customer acquisition in ride-hailing and prepares to launch its food delivery vertical,' an investor aware of the developments told is steadily eating into Ola's market share in the car-hailing segment while preparing to enter food delivery . Unlike its rivals, Rapido follows a subscription model for drivers, which helps it avoid the higher burn associated with commission-based company raised $200 million in 2024 in a round led by WestBridge Capital, followed by another $30 million from Prosus in early 2025, giving it a valuation of $1.1 Top 5 and Morning Dispatch are must-reads for India's tech and business leaders, including startup founders, investors, policy makers, industry insiders and Reach out to us at spotlightpartner@ to explore sponsorship Agarwal, founder, Ola ElectricOla Electric Mobility has received board approval to raise up to Rs 1,700 crore through non-convertible debentures (NCDs) and other eligible debt marks Ola's first fundraise since its stock market debut in August of last year. It comes amid mounting regulatory scrutiny, falling share price, and shrinking market share. The electric scooter manufacturer has not disclosed how it plans to use the Electric is currently under the regulator's lens over alleged sales discrepancies, vehicle quality concerns, and the lack of trade certificates at several retail to its woes, the company ceded its market leader position in electric two-wheelers to TVS Motor last seven shortlisted companies—NTT-Netmagic, Cyfuture India, Sify Digital Services, Vensysco Technologies, Locuz Enterprise Solutions, Yotta Data Services, and Ishan Infotech—have passed the technical round of IndiaAI Mission's second GPU rainfall and widespread waterlogging in Bengaluru earlier this week disrupted swift commerce and food delivery services across the city, leading to numerous order cancellations and non-deliveries in dozens of pin India has led a funding round in Indore-based hyperlocal community platform Shuru, marking its latest push into the country's broader digital ecosystem beyond InMobi plans to invest $200 million in the AI commerce platform Glance AI and its generative AI ad tech stack as it prepares to list on Indian bourses.■ DOGE used Meta AI model to review emails from federal workers ( Wired ■ DJI drones are everywhere. The US may still ban them ( Rest Of World ■ The wild story of how gut health AI toilet startup Throne raised $4M led by Moxxie ( TechCrunch
Time of India
22-05-2025
- Business
- Time of India
ETtech Exclusive: Naveen Tahilyani steps down as Tata Digital CEO after just a year at the helm
In a fresh top-deck churn, Tata Digital CEO and MD Naveen Tahilyani has stepped down just a year after being handpicked by Tata Sons Chairman N Chandrasekaran to steady the group's digital commerce ambitions. His abrupt exit underscores the Tata group 's ongoing struggle to stabilise leadership at its much-hyped superapp venture, Tata Neu . Tahilyani, a Tata veteran who was previously CEO of Tata AIA Life Insurance, was tasked with bringing executional rigour, financial discipline, and consumer focus to a fragmented digital portfolio spanning BigBasket, 1mg, Tata Cliq , Tata Croma , and the Neu app. His mandate: fix the superapp's faltering strategy and stitch together the group's digital assets into a cohesive platform. UK-headquartered life insurer Prudential plc on Thursday announced Tahilyani's appointment as regional CEO for India, Africa, the Philippines, Cambodia, Laos and Myanmar, with additional responsibility for the health vertical. Over the past few months, however, Tahilyani's role was gradually narrowed as plans emerged to carve out BigBasket and 1mg for separate fundraises and eventual IPOs. This marked the end of the road for Tata Digital as a unified digital platform seeking external capital—undercutting the very premise of the superapp strategy Tahilyani had brought in to scale. Tata Neu, the group's superapp, launched in April 2022 aimed at consolidating its various consumer-facing digital businesses into one integrated platform. 'There was angst that independent business units like 1mg and BigBasket weren't allowed operational freedom,' said a person familiar with internal discussions. 'Tahilyani began shifting Tata Neu's positioning from a central command to a shared digital platform,' said a person in the know. ' It was clear that Tata Digital as an entity had become less relevant with BigBasket and 1mg in talks to raise independent funding. Plans to go to market to shore up capital as consolidated unit never frutified,' another person close to the matter said on the condition of anonymity. ET reported on April 7 that that the Tata group is preparing to raise $1.3 billion for its digital assets BigBasket and 1mg. Strategy changes, limited traction Under Tahilyani, the group recalibrated focus on core Tata-owned brands such as Croma and Tata Cliq. Backend integration plans across BigBasket, 1mg, and Tata Cliq were put on hold to preserve brand identities and avoid a clunky user experience—an issue that plagued Neu's early rollouts. It accounted for less than 10% of gross sales for BigBasket and 1mg, according to insiders, signalling limited consumer adoption and weak cross-platform synergies. 'There's now a clear view that unless Neu delivers a seamless, value-led experience, it cannot subsume the identities of stronger consumer brands,' one source said. Still, Tahilyani had laid down some groundwork. He was working closely with unit heads to align strategies and had approved 1mg's upcoming offline expansion into standalone pharmacies and diagnostic labs, as reported by ET on May 14. Leadership churn continues Tahilyani's tenure came on the back of continued leadership churn at Tata Digital. Since the exits of Myntra founder Mukesh Bansal in 2022 and multiple senior leaders over the past two years, the company has seen successive overhauls of its top team, including one initiated under Tahilyani himself. Chandrasekaran, who chairs Tata Digital's board, had reportedly grown impatient with Neu's sluggish progress and had hoped Tahilyani would accelerate execution and prepare the business for possible external investment or eventual IPOs of BigBasket and 1mg.'This was always going to be a tough turnaround,' a senior executive said. 'The digital foundation is in place, but scale and traction remain elusive.' The Tata group had renewed its Indian Premier League (IPL) title sponsorship for another five years to boost Neu's visibility, signalling continued investment in its digital play.
Economic Times
22-05-2025
- Business
- Economic Times
ETtech Exclusive: Naveen Tahilyani steps down as Tata Digital CEO after just a year at the helm
In a fresh top-deck churn, Tata Digital CEO and MD Naveen Tahilyani has stepped down just a year after being handpicked by Tata Sons Chairman N Chandrasekaran to steady the group's digital commerce ambitions. His abrupt exit underscores the Tata group's ongoing struggle to stabilise leadership at its much-hyped superapp venture, Tata Neu. ADVERTISEMENT Tahilyani, a Tata veteran who was previously CEO of Tata AIA Life Insurance, was tasked with bringing executional rigour, financial discipline, and consumer focus to a fragmented digital portfolio spanning BigBasket, 1mg, Tata Cliq, Tata Croma, and the Neu app. His mandate: fix the superapp's faltering strategy and stitch together the group's digital assets into a cohesive platform. UK-headquartered life insurer Prudential plc on Thursday announced Tahilyani's appointment as regional CEO for India, Africa, the Philippines, Cambodia, Laos and Myanmar, with additional responsibility for the health vertical. Over the past few months, however, Tahilyani's role was gradually narrowed as plans emerged to carve out BigBasket and 1mg for separate fundraises and eventual IPOs. This marked the end of the road for Tata Digital as a unified digital platform seeking external capital—undercutting the very premise of the superapp strategy Tahilyani had brought in to scale. Tata Neu, the group's superapp, launched in April 2022 aimed at consolidating its various consumer-facing digital businesses into one integrated platform. 'There was angst that independent business units like 1mg and BigBasket weren't allowed operational freedom,' said a person familiar with internal discussions. 'Tahilyani began shifting Tata Neu's positioning from a central command to a shared digital platform,' said a person in the know. ADVERTISEMENT ' It was clear that Tata Digital as an entity had become less relevant with BigBasket and 1mg in talks to raise independent funding. Plans to go to market to shore up capital as consolidated unit never frutified,' another person close to the matter said on the condition of anonymity. ET reported on April 7 that that the Tata group is preparing to raise $1.3 billion for its digital assets BigBasket and 1mg. Strategy changes, limited traction ADVERTISEMENT Under Tahilyani, the group recalibrated focus on core Tata-owned brands such as Croma and Tata Cliq. Backend integration plans across BigBasket, 1mg, and Tata Cliq were put on hold to preserve brand identities and avoid a clunky user experience—an issue that plagued Neu's early accounted for less than 10% of gross sales for BigBasket and 1mg, according to insiders, signalling limited consumer adoption and weak cross-platform synergies. ADVERTISEMENT 'There's now a clear view that unless Neu delivers a seamless, value-led experience, it cannot subsume the identities of stronger consumer brands,' one source said. Still, Tahilyani had laid down some groundwork. He was working closely with unit heads to align strategies and had approved 1mg's upcoming offline expansion into standalone pharmacies and diagnostic labs, as reported by ET on May 14. ADVERTISEMENT Leadership churn continues Tahilyani's tenure came on the back of continued leadership churn at Tata Digital. Since the exits of Myntra founder Mukesh Bansal in 2022 and multiple senior leaders over the past two years, the company has seen successive overhauls of its top team, including one initiated under Tahilyani himself. Chandrasekaran, who chairs Tata Digital's board, had reportedly grown impatient with Neu's sluggish progress and had hoped Tahilyani would accelerate execution and prepare the business for possible external investment or eventual IPOs of BigBasket and 1mg.'This was always going to be a tough turnaround,' a senior executive said. 'The digital foundation is in place, but scale and traction remain elusive.' The Tata group had renewed its Indian Premier League (IPL) title sponsorship for another five years to boost Neu's visibility, signalling continued investment in its digital play.
