Digbijay Mishra

Amazon has set the ball rolling to launch its quick commerce offering in India, likely in the first quarter of the next year, people briefed on the plan said. The US etailer's local unit has entrusted the responsibility of developing its quick commerce strategy to a senior executive as part of a leadership rejig, as it heads for a fast-growing segment that rival Flipkart recently entered with ‘Minutes.'

Amazon has put together a plan to take on the quick commerce challenge in India, with its own offering which is slated to launch by early next year. The India unit of the etailer has handed over the responsibility of building its quick commerce strategy to senior executive Nishant Sardana as part of a rejig of the top leadership.

As the quick commerce sector continues to gather steam, it is attracting wealthy individuals as investors. Bollywood superstar Amitabh Bachchan's family office has picked up a stake in small stake in IPO-bound Swiggy. Also, Motilal Oswal Financial Services chairman Raamdeo Agrawal has acquired a stake in Swiggy as well as Zepto.

Quick commerce is red-hot, and a new battle is unfolding on two fronts as companies flush from recent fundraises at rich valuations go all out to expand operations. There's a rush to open dark stores, and an accompanying scramble to find the personnel to manage the expanding infrastructure and supply chain.

Theres fierce competition for the right sites — now increasingly expensive and difficult to find in large cities — to set up these micro warehouses for servicing localities in the vicinity. Meanwhile, the likes of BigBasket, Zepto, Flipkart Minutes and Swiggy Instamart are recruiting aggressively, as well as poaching, people in the know told ET.

Synopsis Asthana, a chief executive in Tata's ecommerce venture, was the CBO at Nykaa for four years and was also on the company's board. Nykaa said in its petition that such a high position in the company made him privy to confidential business data. Nykaa said it granted Asthana an exception to join a direct rival despite having a non-compete agreement with him.

The Mumbai-based startup is also talking to domestic investment banks for a potential listing of shares by August next year, one of the people said. Swiggy, the parent of Zeptos rival Instamart, is also readying to hit the public market later this year with a $1.25 billion IPO. Its other bigger competitor, Blinkit, is owned by Zomato, a listed company since 2021.

Synopsis This will be the second funding round for PhysicsWallah, started by Alakh Pandey, a popular teacher, in 2016 as a YouTube channel providing coaching for engineering and medical entrance tests. In 2022, the profitable edtech firm raised $102 million at a $1.1-billion valuation from WestBridge Capital and GSV Ventures in its maiden funding round.

Synopsis The government has shot off queries to senior ecommerce executives to understand the ownership structures of quick commerce firms and their dark stores. The chief executive of one of the top three quick commerce firms told us that he recently briefed commerce and industry minister Piyush Goyal and his team on the nature of investors in the firm and its long-term plans.

Synopsis Venture capital fund Lightspeed will lead a $50-60 million investment in Qure.ai through its growth fund. Sources said the VC fund will invest around $20-25 million in the AI company and is looking to buy some secondary shares as well.