10 January 2022, Mumbai:

Ninjacart, a supply chain startup for fresh produce, has executed an ESOP buyback worth Rs 100 crore. underscoring a growing trend among Indian startups to enrich their employees and retain them in a highly competitive hiring environment.

ESOP

Both current and former employees of the Bengaluru-based firm are eligible for the ESOP buyback programme, which also gives them the option to entirely sell their vested employee stock ownership plans.

This is the company's second ESOP buyback The first one was conducted in 2019.

An ESOP is an employee benefit plan which gives a company's staff ownership of the firm through equity shares that they can sell at certain times.

retail.economictimes.com 

(The news article has not been edited by DFU Publications staff)

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04 January 2022, Mumbai:

Private equity and Venture capital (PE-VC) investor exits hit a record high in 322 at $38.7 billion across 270 deals due to a blockbuster year for public markets and hectic consolidation activity among digital enterprises.

The previous record was in 2018 when the Walmart, Flipkart deal had lifted exit value to around $26 billion.

Exits by value grew fivefold from $7 billion in 2000 and the number of exits jumped 72% from 157 In 2000, according to data from Venture Intelligence.

SOURCE: TOI Dt 04-01-2022 (The news article has not been edited by DFU Publications staff)

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10 January 2022, Mumbai:

To commemorate the 75th year of India's independence. Azadi ka Amrit Mahotsav highlights the exemplary growth of the startup ecosystem and become a platform for interaction, deliberation, and discussion for future potential startups Department for Promotion of Industry and internal trade IDP is organizing the Startup India Innovation Week.

Since the launch of the Startup India introduction on 16 January 2015 the Indian startup ecosystem has grown to the 3rd largest in the world with over 60,000 startups across 633 districts from all 28 Slates and & 8 Union Territories with their own dedicated Startup Policies.

COVID-19 was the black swan of the 21st century, but India's entrepreneurs responded to the pandemic by reimagining their businesses, and bouncing back in the face of adversity, embodying the true spirit of a self-reliant India.

This bears testimony to the fact that the clarion call given by the Hon'ble Prime Minister Shri Narendra Modi to use these trying limes to become Atmanubhar, has been very well received by our startups, enabling the resurgence of the Indian economy.

STARTUP INDIA INNOVATION WEEK 

07 January 2022, Mumbai:

Leads $240Mn Round In Move Aimed At Boosting Last-Mile Delivery For JioMart

Dunzo, which pioneered in India the concept of delivering almost anything to anyone within a city has raised $240 million in a funding round led by Reliance Retail Ventures On Its own. Reliance Retail has invested $200 million for a 25 8% stake in the Bengaluru venture. Existing Investors Lightbox, Light rock, L Capital, and Alteria Capital also participated in the round.

Dunzo CEO and co-founder Kabeer Biswas said, "With this investment from Reliance Retail, we will have a long-term partner with whom we can accelerate growth and redefine how Indians shop for their daily and weekly essentials"

SOURCE: TOI Dt 07-01-2022 

(The news article has not been edited by DFU Publications staff)

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03 January 2022, Mumbai:

With the latest funding, Mamaearth parent gets the tag of joining the very first unicorn of 2022, valued at $1.2 billion The round also gave employees an opportunity to monetise their vested employee stock ownership plans (ESPOs).

The round witnessed participation by Sofina Ventures SA, the Belgium-based investment company, and Evolvence, a UAE-based India-focused fund. The round also gave employees an opportunity to monetise their vested ESOPs.

Honasa co-founder and Chief Executive Officer Varun Alagh claim their flagship brand Mamaearth is a leader in the D2C personal care segment and The Derma Co is set to chart out its success story.

The company envisages using the funds towards expanding its portfolio of personal care D2C brands venturing into new categories.

Incidental to the launch of Aqualogica, a hydration-based skincare brand, the company has entered a diverse new segment catering to unique requirements of Indian skin and tropical weather.

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06 January 2022, Mumbai:

Business-to-business (B2B) e-commerce startup Udaan has raised $250 million as it looks to scale up operations before going public in 18 24 months. Udaan raised $200 million via a convertible note along with $50 million as debt, showed an internal email by Aditya Pande, CFO at Bengaluru-headquartered startup. 

TOI was the first to report about Udaan's efforts to raise capital in new ways, including debt financing from global institutional investors.

"This round was oversubscribed 2x and also saw participation from our existing investors, exist including t those who bought into the company through the secondary (ESOP) round in HI 2021. Pande wrote in the email which TOI has reviewed.

"A convertible note is an instrument typically used by companies at the pre-IPO stage, and the instrument converts into equity at the IPO," he said.

SOURCE: TOI Dt 06-01-2021

(The news article has not been edited by DFU Publications staff)

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24 December 2021, Mumbai:

Bluetooth headphones, choppers, and peelers topped shopping charts of the e-commerce platform this year.

Meesho said on Thursday its aims to reach 100 million monthly transacting users by December 2022 an internet commerce platform and increase its roster to over 50 million products.

Over the next year, the SoftBank-backed firm said it will continue to fuel the discoverability of hyperlocal businesses and products, make e-commerce accessible to value-conscious customers. Meesho raised $570 million from investors, including SoftBank, in September. After the funding, Meesho’s valuation more than doubled to $4.9 billion in less than five months.

As India’s retail industry evolves, a growing number of value-conscious online shoppers are reshaping the landscape of Indian e-commerce. Bluetooth headphones, choppers, and peelers topped shopping charts on Meesho this year.

With lockdowns extending work from home and pausing socializing or dining out, Indians took matters into their own hands. Over 45 lakh Bluetooth headphones and 17 lakh choppers and peelers were sold in 2021. Sarees, Kurtis and kurtas, and printed bedsheets were also among the top-5 products sold this year.

Business Standard 

(The news article has not been edited by DFU Publications staff)

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DAILY NEWS:

• Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

• Consumers will determine growth of sustainable fashion e-comm in India

• Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

• Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

• Nike strengthens retail presences with new store at DLF Mall of India,Noida

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