Flipkart-owned trend retailer Myntra has obtained a recent capital infusion of $103 million from its Singapore-based mum or dad entity – FK Myntra Holdings – forward of its seven-day-lengthy festive sale.
Why is it vital?
The funding comes simply days earlier than Myntra’s Big Fashion Festival sale that kicks off on October 16, throughout which it expects to double gross sales in comparison with the identical interval final 12 months. Read More.
US-based mostly on-line retailer Amazon has pumped in an extra Rs 700 crore into its Indian digital funds enterprise Amazon Pay, forward of the festive season when it expects to dole out giant cashbacks to be able to develop its buyer base.
Why does it matter?
The recent funding additionally marks Amazon’s second funding into Amazon Pay this 12 months, after the corporate pumped in Rs 1,355 crore in January. So far, the corporate has raised just a little over Rs 5,000 crore since inception in 2016 and has been making a few investments annually. Read More.
Chargebee has landed Rs 403 crore ($55 million) in its Series F funding spherical, led by Insight Partners. The present spherical, the largest thus far by the subscription billing startup, comes at a time when brick and mortar firms are adopting subscription fashions of their companies, following the Covid-19 pandemic. Read More.
Fintech startup Uni picked up $18.5 million (about Rs 136 crore) in seed funding — its largest in calendar 12 months 2020 — from marquee enterprise capital corporations Lightspeed Ventures India and Accel Partners India. The firm, which remains to be in stealth mode, has been based by Nitin Gupta, who was previously a senior govt at Naspers-owned fintech main PayU India and at Ola Financial Services.
Why is it vital?
The giant seed spherical marks the most recent instance of a second- or third-time entrepreneur elevating substantial capital whereas nonetheless in stealth mode. Ashish Kashyap, founder and chief govt of IndWealth; Kunal Shah, CEO of Cred and Jitendra Gupta of latest age banking startup Jupiter are three different examples of entrepreneurs which have raised $25 million and upwards for his or her newest ventures. Read More.
Other key offers