MAM
Pentamedia promoted global interactive media startup Purple Drop launched with hopes to tap into gaming market
MUMBAI: Purple Drop, a newly formed global interactive media company with its corporate headquarters located in Silicon Valley, was launched in south Mumbai on Thursday.
Specialising in end-to-end graphics solutions through a market-driven services, products & distribution strategy, Purple Drop’s model combines expansive offerings in interactive entertainment technologies, R&D on demand, 2D/3D animation, CGI and SFX for the gaming, entertainment and commercial markets, according to a company press release.
Expressing his excitement at the launch, Ashok Desai, founder & CEO of Purple Drop, said: “The time has come for India to venture into radically new business opportunities. Purple Drop plans to leverage India’s inherent technology strengths as well as the existing knowledge & expertise from the traditional business in entertainment & graphics and synergise it in charting a new paradigm for the industry in interactive entertainment and online gaming.”
“Driven by the opportunity to participate in the $9 billion world-wide game industry, we are convinced that this focus will fuel unprecedented levels of innovation and technology advancements in the development of content which will enable Purple Drop to bring products and solutions to a whole new market opportunity,” he further added.
Pentamedia Graphics has provided $4 million in seed funding and has permanently transferred a core team of trained professionals to Purple Drop. In addition, Purple Drop has IP rights for Pentamedia’s graphics products as well as gaming rights for Sinbad and Pandavaas. Purple Drop will also have access to the state-of-the-art infrastructure base of Pentamedia Graphics and rights to an extensive selection of digital assets.
Speaking on the occasion of the launch, Dr V Chandrasekaran, chairman, Purple Drop and chairman & CEO, Pentamedia Graphics, Ltd., said: “Over the past year, we have seen Pentamedia Graphics forge compelling alliances and strategies to respond to the exciting needs of the entertainment industry. The launch of Purple Drop is a proof of our belief that the time is right to respond to this high-end graphics need as a focused entity.”
Brands
Eternal pumps Rs 450 crore into Blinkit as quick commerce race heats up
Fresh funds fuel Blinkit’s expansion as rivals Zepto and Instamart scale up
MUMBAI: Eternal has infused Rs 450 crore, into its quick commerce subsidiary Blinkit, marking its first capital injection into the company in 2026. The funding comes as competition in India’s fast-growing quick commerce market continues to intensify.
According to media reports, the capital infusion was approved by the board through a rights issue, with 2,799 equity shares allotted at an issue price of Rs 16,07,161 per share. The funds are expected to support Blinkit’s expansion, operational expenses and working capital needs as it scales operations across more cities.
The latest investment follows significant funding support from Eternal in 2025. The company invested Rs 500 crore in January, Rs 1,500 crore in February and Rs 600 crore in November, taking the total infusion last year to Rs 2,600 crore. The continued funding highlights Eternal’s focus on strengthening its quick commerce business.
Blinkit’s operations have grown rapidly alongside these investments. In the December quarter of FY25, the company reported revenue of Rs 1,399 crore, up from Rs 644 crore in the same period a year earlier. Gross order value also rose to Rs 7,798 crore during the quarter, reflecting strong demand for rapid delivery services.
However, profitability remains under pressure as the company continues to expand. Blinkit reported an adjusted ebitda loss of Rs 103 crore in the quarter, compared with a loss of Rs 8 crore in the previous quarter.
The funding comes at a time when competition in the quick commerce segment is increasing. Rival startup Zepto raised $450 million in October last year, while Swiggy raised around Rs 10,000 crore in December to strengthen investments in its quick commerce arm Instamart.
Earlier this year, Blinkit CEO Albinder Dhindsa was elevated to group CEO of Eternal, succeeding Deepinder Goyal, reflecting the growing strategic importance of the quick commerce business within the company.
