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One of the few remaining foreign venture capital funds in India, Lightspeed has had a rather quiet year—especially when compared to some of its peers. The 2026 IPO pipeline may be the reset it needs.

Surprisingly strong metrics alongside aggressive expansion mask a lurking balance-sheet risk. Moreover, competition is not going to be kind to the retail giant any time soon.
Some companies that work with the five-year-old quick-commerce platform allege constant pressure to spend money and agree to its terms and conditions. Any attempt to question or rebut Zepto’s policies comes at a cost.
A correct summary of modern times is that there are decades when nothing happens and then there are weeks in which a lot comes to pass. Like these past few weeks.