🇮🇳 Roundup: Instamart, Zepto to launch private label products

India-based BiteSpeed raised US$1.9 million in funding over the past day.

Here’s a snapshot of the fundraising:

Here’s some important tech news from India today:

Quick commerce firms Instamart, Zepto to sell private label products

Zepto plans to sell staples, general merchandise, and cooking essentials under its own brand by the second or third quarter of this year.

Swiggy’s Instamart also plans to follow suit by next month, according to a person familiar with the matter. The first batch of the private label products will be non-food items.

Many retailers and ecommerce firms, including Amazon, have sold their own branded goods, which offer bigger margins compared to selling third-party products. (Read: Will India’s 10-minute quick commerce model last?)

Fintech firm Slice completes US$8.6 million ESOP buyback

Slice, a startup that allows users to get a Visa-powered card that can be used for online and offline transactions, has launched its first ESOP buyback program.

There are 60 existing and former employees who hold vested stocks that are eligible to join the program. In total, their shares are worth 650,000 rupees (around US$8.6 million).

Founded in 2016, Slice has over 7 million registered users and has raised US$270 million to date from Tiger Global, Insight Partners, and Advent International, among others.

Oyo wins legal battle against hospitality firm Zostel

The Delhi high court has rejected Zostel’s plea, turning down its claim for a 7% shareholding in Oyo.

In 2015, merger talks between Oyo and Zostel failed. The latter claims it completed its responsibility to transfer its business and that the former didn’t transfer the shares in the agreement.