Top-deck churn at Tata Digital; Rapido's cash burn rises
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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
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Ola Electric gets board nod to raise Rs 1,700 crore debt
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Shortlisted bidders clear IndiaAI GPU tender technical round:
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Krafton backs hyperlocal community app Shuru:
IPO-bound InMobi doubles down on AI:
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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 push.UK-based 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 vertical.Back at Tata Digital, finance chief Hardeep Singh Guru is tipped to take the top job.Tahilyani, 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 superapp.Tahilyani's 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 us.Tahilyani 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 matter.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 us.Rapido 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 systems.The 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 billion.ETtech Top 5 and Morning Dispatch are must-reads for India's tech and business leaders, including startup founders, investors, policy makers, industry insiders and employees.Interested? Reach out to us at spotlightpartner@timesinternet.in to explore sponsorship opportunities.Bhavish 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 securities.This 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 funds.Ola Electric is currently under the regulator's lens over alleged sales discrepancies, vehicle quality concerns, and the lack of trade certificates at several retail outlets.Adding to its woes, the company ceded its market leader position in electric two-wheelers to TVS Motor last month.All 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 tender.Heavy 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 codes.Krafton 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 gaming.Google-backed 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
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