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Myntra set to invest in 10 fashion brands with accelerator programme

Flipkart-backed fashion e-tailer Myntra is set to sign term sheets with 10 domestic brands and get them aboard its recently launched Brand Accelerator programme, a top company official told VCCircle. “We have already closed term sheets with three of them and will soon complete it with the rest. Ma...

17 March, 2017 |More »

Kanwal Rekhi

Why Inventus’ Kanwal Rekhi doesn’t regret giving Flipkart, Snapdeal a miss

Many moons ago, Kanwal Rekhi and John Dougery, the founding partners of Inventus Capital, carefully examined two fledgling e-commerce ventures but passed up the investment opportunity. The two startups—Flipkart and Snapdeal—have eventually gone on to become unicorns valued several billion dollar...

17 March, 2017 |More »

Venture Capital Market

India’s Venture Capital Market Focussed More on Exits in 2017

While 2016 continued to be a step up in the venture capital world of India after seeing an overall crossing of $2 billion in funds, venture capital firms are now preparing for a much tighter investment budget in 2017. With even the most promising firms being found unable to return on the previously ...

17 March, 2017 |More »

Latif Nathani

Exclusive: Former India head Latif Nathani quits eBay

Latif Nathani, who was heading eBay’s India business up until recently, has resigned from the company. Nathani served as the managing director and vice president of eBay India since May 2013 until last month when he moved back to the US. Nathani decided to move to the US for personal reasons, a pe...

17 March, 2017 |More »

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Myntra and Jabong to integrate back end, logistics functions

Flipkart-backed Myntra and Jabong will share the same logistics infrastructure by bringing together their back end and supply chain functions, a report in a financial daily stated. “Myntra logistics will also be one of the partners for Jabong which already uses Ekart for shipping,” The Economic ...

17 March, 2017 |More »

(L-R) Chaitanya Ramalingegowda, VP-investor relations at LetsVenture, Shanti Mohan, co-founder & CEO, LetsVenture and Ankit Samdariya of The Hive

Co-working space The Hive, LetsVenture join forces to set up incubators

Virtuous Retail Services Pvt. Ltd, which operates collaborative workspace The Hive, has joined hands with online fundraising platform LetsVenture to set up and manage incubator spaces for startups. While LetsVenture-affiliated companies will have special access to The Hive’s network of collaborati...

16 March, 2017 |More »

Myntra launches first offline store in Bengaluru to push private label brand

Myntra launches first offline store in Bengaluru to push private label brand

Nearly seven months after Myntra announced its intent to go offline, the Flipkart-backed online fashion and lifestyle e-tailer has launched its first offline store in Bengaluru. The 4,000 sq ft store, which will be open to the public tomorrow, would be an exclusive store for what Myntra claims to be...

16 March, 2017 |More »

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Exclusive: Amazon elevates India head Amit Agarwal

US-based Amazon.com, Inc. has elevated India chief Amit Agarwal to senior vice president (SVP), making him one of the few SVPs at the e-tailing giant globally, a person familiar with the development told VCCircle. The meatier role is a likely reward for Agarwal’s successful efforts in building...

16 March, 2017 |More »

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Agri-tech startup FarMart raises seed funding from IAN

Indian Angel Network (IAN) has made an undisclosed investment in Gurgaon-based FarMart, a renting platform for farm equipment, a statement issued by the company stated. Ambarish Raghuvanshi, who led the investment on behalf of IAN, has also joined the board of the startup, the press note added. Oper...

16 March, 2017 |More »

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Stayzilla’s Vasupal files bail plea; startup world rallies behind him

Chennai-based homestay aggregator Stayzilla’s co-founder and chief executive Yogendra Vasupal, who was arrested on charges of defrauding a vendor, has filed for bail before Chennai’s Special Metropolitan Magistrate. Vasupal is currently at Chennai’s Puzhal Central Prison. Vasupal was arres...

16 March, 2017 |More »

fitnass11

Social fitness app Fitso raises $200K from former Flipkart exec, others

Gurgaon-based Jogo Technologies Pvt. Ltd, which runs health and fitness app Fitso, has raised $200,000 (Rs 1.3 crore) in angel funding from a clutch of investors including former president – operations at Flipkart Sujeet Kumar, Intelenet Global Services CEO Bhupender Singh and PolicyBazaar CEO...

16 March, 2017 |More »

Women-focused media startup POPxo raises $2.7 mn from GREE Ventures

Women-focused media startup POPxo raises $2.7 mn from GREE Ventures, others

POPxo.com, a digital publication targeted at young women, has raised $2.7 million in a Series B funding round led by Japanese venture capital firm GREE Ventures with participation from its existing investors Kalaari Capital and IDG Ventures India. The company will invest the fresh capital on product...

16 March, 2017 |More »

Virtual reality startup ShilpMIS raises angel funding

Exclusive: Virtual reality startup ShilpMIS raises angel funding

Surat-based ShilpMIS Technologies Pvt. Ltd has raised an undisclosed amount in funding from Puneet Gupta, a digital industry veteran and angel investor, Nimitt Desai, partner at Deloitte US, and other high net worth individuals (HNIs), a top company executive told VCCircle. Founded earlier this mont...

16 March, 2017 |More »

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Bhavin Turakhia to invest $25 mn more in enterprise messenger Flock

Billionaire Bhavin Turakhia plans to invest $25 million in enterprise team messenger app Flock to enhance product innovation and meet global demand, the company said in a statement. As the company closes in on US-based Slack, which offers a chat and messaging app for businesses, for a larger share o...

16 March, 2017 |More »

Laundry

PickMyLaundry acquires OneClickWash in all-cash deal

New Delhi-based PML Solutions Pvt Ltd, which runs on-demand dry cleaning and laundry services provider PickMyLaundry, has acquired subscription-based laundry and dry cleaning startup OneClickWash for an undisclosed amount in an all-cash deal. The acquisition will help PickMyLaundry to leverage OneCl...

16 March, 2017 |More »