India’s startup and technology ecosystem is witnessing the emergence of influential founders turning into funders. CaratLane founder Mithun Sacheti and Flipkart cofounder Binny Bansal have become anchor LPs in Bengaluru-based Xeed Ventures, an early-stage fund run by Sailesh Tulshan.
Fresh from his exit from the board of Flipkart, Binny Bansal is reportedly doubling down on his investments in India with his latest startup OppDoor. Bansal has made additional investments in Curefoods, increasing his stake in the company. He is also looking for CEOs to lead his new ventures, OppDoor and a venture offering offshore legal services.
Flipkart Internet, the marketplace arm of Walmart-owned ecommerce firm Flipkart, received a cash infusion of about Rs 924 crore ($111 million) from its related entities based in Singapore. This investment comes as rival Amazon has invested over Rs 1,000 crore in its India entities this year. Flipkart is also in talks to raise $1 billion, with parent Walmart committing to inject $600 million. This article discusses the recent investments in Flipkart and its plans for future fundraising.
Ecommerce discounts and promotional offers came down on the third day of the biggest annual online festive sales, as brands and online sellers overachieved their targets reporting an over 25-30% surge in sales by value compared to the same sale period of last year. LG India has grown sales by over 30% with televisions, washing machines and refrigerators driving sales, including premium models.
According to CIEL conducted survey, the corporate industry has witnessed a 10% growth of women employees’ participation, unfolding due to flexible regulations by corps for women of senior or even non-conventional jobs. With ITC offering to bear baby and nanny tag-along work trip expenses; Titan offering transfer benefits along with a local employee “buddy” helping with accommodation; Flipkart offering parental leaves, period leaves; and many more, companies are serving women equal long-term career opportunities.
