Startup

D2C Brand Mother Sparsh Raises INR 20 Cr From ITC; Aims INR 300 Cr Revenue In 3-5 Years

Baby and mother care D2C brand Mother Sparsh is going to raise INR 20 Cr in Series A funding from FMCG-to-hospitality major ITC. Post the investment, ITC will acquire 16% stake in the startup. The D2C startup plans to deploy the funds towards enhancement of its research and development (R&D) and digital capabilities, drive new …

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Neobanking Startup Open Launches No Code DIY Finance Platform Zwitch

Bengaluru-based neobanking startup Open has launched a do-it-yourself  (DIY) fintech service platform Zwitch for fintechs and enterprises. The SME-focused neobanking startup claims that its platform is the first no-code embedded finance platform which offers brands and fintechs with drag and drop interface to commence fintech services.  According to the company, Zwitch is targeting a growing …

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Finance Secretary TV Somanathan Says Crypto Will Not Be Legal Tender In India

While saying too much is being discussed about the proposed Currency Bill, Finance secretary TV Somanathan reiterated that the Bill will never be a legal tender in India. The Tamil Nadu cadre and Indian Administrative Services (IAS) officer added that it is still in the process of being finalised.  “People are reading too much into …

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Nykaa’s Market Cap At INR 1.18 Lakh Cr, Surpasses That Of Zomato

As Nykaa’s share prices buck the overall bearish trend in the stock markets, its market capitalisation has surpassed that of food tech major Zomato. Its market cap crossed the INR 1.18 Lakh Cr ($15.9 Bn) mark today, while Zomato’s market cap slipped to INR  INR 1.17 Lakh Cr ($15.7 Bn). Around 1.50 p.m, Nykaa’s shares …

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Amazon Writes To Future Retail’s Independent Directors; Alleges $1.5 Bn Fund Diversion

In 2020, Future Retail (FRL) approached Reliance Retail for a buyout of FRL for $3.4 Bn citing heavy losses and possible dissolution. This obviously did not go well with Amazon; which bought 49% stakes in Future Coupons, ultimately acquiring a 3.58% stake of FRL in 2019. In 2021, as the altercation between Amazon and Future …

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IT Minister Urges Rethinking Of Governance Structure Of Internet & Social Media Content

Speaking at the inaugural event of the India Internet Governance Forum 2021 (IIGF 2021) on Thursday (November 25), IT Minister, Ashwini Vaishnaw stressed the importance of the internet in boosting the economy and thus, the need for its governance. He said that content-language, creation, consumption, access and modes have changed over time. “With these fundamental …

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Wealth Management Platform Upstox Likely To Join The Unicorn Club At $3 Bn Valuation

Digital stockbroking platform Upstox may soon join its peers Zerodha and Groww in the unicorn club as it is likely to hit the $3 Bn in valuation with the ongoing funding round. The RKSV Securities operated Upstox has already picked up INR 184 Cr or close to $25 Mn from its existing investor Tiger Global.  …

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The D2C Summit Is Here! Unveiling The Agenda For India’s Largest D2C & Ecommerce Conference

If the Covid pandemic in 2020 pushed many tech-shy Indians towards a digital life, 2021 has been the year where that transition has become a near-permanent thing. This year has been unprecedented when it comes to startup funding and new unicorns, but one particular sector that has seen a massive uptick is ecommerce and within …

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Amazon Vs Future: Supreme Court Agrees To Hear Amazon’s Plea Against Delhi HC’s Directive to CCI

The Supreme Court has agreed to hear Amazon’s plea against the Delhi High Court’s recent order directing the Competition Commission of India (CCI) to expedite its ruling in the Future Coupons issue. The top court will hear the matter on Monday, November 29. On November 16, the Delhi High Court directed the anti-trust body to …

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