e-commerce
Best Foodworks invests in online fresh food store iOrderFresh
MUMBAI: iOrderFresh, the mobile-first, fresh food and grocery retail brand from Supply Chain Analytics and Technologies has received a strategic investment of an undisclosed amount from Best Foodworks.
Brainchild of Nitin Sawhney, iOrderFresh currently operates in the Delhi-NCR region with a key proposition of ‘Fresh Produce from Farm to Kitchen’. Sawhney, who is the former COO of India Today Group’s lifestyle marketplace BagItToday.com, had successfully mobilised strategic funding from Axel Springer AG for the BagIt venture in 2010.
Best Foodworks is founded by Alkesh Tandon, who is the executive director of Nelson India, a reputed corporate design firm providing architecture, interior planning and space management solutions. Following this investment, Tandon will join the Board of iOrderFresh and provide strategic guidance to grow the business exponentially.
Tandon said, “The smartphone is ubiquitous in modern India and slated for tremendous growth. We are seeing how online shopping has shifted from a trend to a lifestyle. The m-Commerce tide is yet to sweep the country and we are certain that grocery shopping will be on top of the list, given our fast-paced lives. We are excited to partner with iOrderFresh, which we believe will redefine the food consumption supply chain of NCR and progressively across India. At Best Foodworks, we are constantly looking at opportunities which are aligned to the consumption story of the Indian economy.”
Sawhney added, “Online grocery though still nascent, is at a sunrise stage in India. In the past three months alone we have seen volumes double with negligible marketing spends. We are committed to delivering the best quality Fresh Produce to our customers day after day. Our action plan is to emerge as the leading player in the NCR region and then expand to other cities. We will be expanding our product offerings with the inclusion of new categories very soon. The money raised in this round will be invested in bolstering our technology, supply-chain, customer acquisition and services.”
e-commerce
American Express to acquire AI startup Hyper to boost automation
Deal targets expense management as AI reshapes corporate spending tools.
MUMBAI: From receipts to robots, the expense sheet is getting a brain upgrade as American Express moves to bring artificial intelligence into the heart of corporate spending. The company has announced plans to acquire Hyper, a relatively young but fast-rising startup founded in 2022 that builds AI-powered agents capable of organising expenses, generating reports, verifying compliance with budgets and policies, and nudging users with timely reminders. The deal, expected to close in the second quarter of 2026, underscores a growing shift among financial institutions to automate traditionally manual, time-heavy workflows.
Hyper counts Sam Altman among its backers, adding a layer of Silicon Valley credibility to the acquisition. While financial details remain undisclosed, the strategic intent is clear: deepen automation capabilities and sharpen American Express’s position in the competitive corporate spending ecosystem.
The two companies are not strangers. They previously collaborated in 2024 on a co-branded credit card product, suggesting that the acquisition is less a cold buy and more an extension of an existing relationship. With this move, American Express is effectively bringing that capability in-house, aiming to embed AI directly into its commercial services stack.
Chief executive Stephen Squeri had already signalled the direction of travel in a recent shareholder letter, describing AI as a “structural shift” in how businesses operate. The Hyper acquisition appears to be a direct response to that shift, particularly in expense management, where processes such as approvals, compliance checks and reporting remain ripe for automation.
Alongside the acquisition, the company is also expanding its product suite. A recently launched business credit card offers cashback and benefits at an annual fee of $295, with another card expected later this year moves that complement its broader push into commercial services.
Taken together, the strategy points to a future where managing expenses may require fewer spreadsheets and more algorithms. For American Express, the bet is simple, if businesses are rethinking how work gets done, the tools that power that work need to evolve just as quickly.
