B2C Giants Add AI Twist, LEAP India IPO Day 2 & More

From AI-Driven Startups to IPO Day at LEAP India: A Recap of Recent Developments

Within India's burgeoning startup ecosystem, major consumer-facing platforms are embracing artificial intelligence (AI) to scale their businesses and create standalone AI-driven ventures. Eternal, the parent company behind the food delivery app Zomato, launched its AI venture, Nugget Track, as an internal solution for Zomato. Today, the platform offers conversational AI, voice assistants, workflow automation, and agentic systems to external enterprises, securing an average deal a week without spending on ads.

Valued at ₹350 Cr and cash-flow positive with ₹7.2 Cr revenue in FY26, Nugget Track aims to replicate its success among private banks, insurance companies, D2C brands, and e-pharmacies.

Meanwhile, CARS24, an auto-tech giant, is adopting a distinct approach by forming Deployment Inc, an independent AI platform responsible for deploying forward-deployed engineers (FDEs) to help enterprises operate AI systems. FDEs will connect AI models with internal data, redesign workflows, and measure outcomes. CARS24 plans to hire 50 FDEs initially, positioning itself between consumer platforms and early-stage AI startups by leveraging the valuable workflow data, distribution, and operational experience possessed by consumer tech companies.

In the realm of business acquisitions, several startups are exploring opportunities in the enterprise AI market. Fintech major Paytm is planning to sell its in-house AI capabilities to external merchants and businesses, while Razorpay is developing an agentic commerce studio. The common thread among these ventures is the belief that consumer platforms hold valuable data, distribution, and operational expertise that can be repackaged for enterprise customers.

On the equity front, the logistics tech company LEAP India witnessed strong demand during its IPO day, with investors subscribing to 49% of the shares offered on the second day. Qualified institutional buyers led the bidding, subscribing to their quota at a 61% rate. The IPO values the company at ₹7,004.5 Cr, with a portion of the offering reserved for Non-Institutional Investors (NIIs) and retail investors. The company's IPO comprises a fresh issue of shares up to ₹480 Cr and an Open Offer of up to ₹2,000 Cr.

As for ongoing legal battles, the budget hostel chain Zostel-OYO saga continues to unfold. The hostel chain has withdrawn its plea, urging the Delhi High Court to examine the SEBI's IPO disclosures concerning Zostel's claimed 7% stake in the OYO parent. Following the court's decision, Zostel plans to continue pursuing the case, despite the High Court noting that SEBI will assess the company's concerns without a specific court order.