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Sanghamitra Kar

Principal Correspondent

Moneycontrol.com

Meesho to join Open Network for Digital Commerce; plans to take on Amazon, Flipkart with branded offerings

BUSINESS

Meesho to join Open Network for Digital Commerce; plans to take on Amazon, Flipkart with branded offerings

Meesho Mall move is significant as the Bengaluru-headquartered company has previously only focused on the non-branded segment and the price-over-convenience market

Amazon launches Smart Commerce, aims to to transform local stores into digital dukaans

BUSINESS

Amazon launches Smart Commerce, aims to to transform local stores into digital dukaans

Amazon plans to digitise one crore small businesses across the country by 2025.

D2C brand BlissClub raises $15 million in Series A led by Eight Roads Ventures, Elevation Capital

BUSINESS

D2C brand BlissClub raises $15 million in Series A led by Eight Roads Ventures, Elevation Capital

The startup will use the funds to build its app, for research and development, marketing and expand its 70-member team

Polygon launches fellowship program in India for Web3 developers

BUSINESS

Polygon launches fellowship program in India for Web3 developers

Polygon hosts over 19,000 decentralized apps (dApps), with over 135 million unique user addresses, and boasts over $5 billion in total value locked-in (TVL).

Coinbase to go slow on hiring, drops plans to triple size of company

BUSINESS

Coinbase to go slow on hiring, drops plans to triple size of company

Coinbase had launched its Indian tech hub in 2021 which currently has over 300 employees. Chief executive officer Brian Armstrong had then written that the crypto exchange will continue to invest heavily in the India hub.

Are 10-minute deliveries failing?

BUSINESS

Are 10-minute deliveries failing?

The much hyped yet disputed ‘10-minute delivery’ concept seems to have been relegated backstage with a new battle brewing among quick commerce and food-delivery players for delivery agents.

Swiggy resumes Genie, but long distance deliveries still not available

BUSINESS

Swiggy resumes Genie, but long distance deliveries still not available

The food tech and quick commerce players have been dealing with attrition and dearth of delivery executives which has turned out to be a bigger problem for these players.

Smytten raises Rs 100 crore led by Fireside and Roots Ventures

BUSINESS

Smytten raises Rs 100 crore led by Fireside and Roots Ventures

The company is currently clocking an annual recurring revenue of Rs 150 crore and plans to grow it up to Rs 500 crore in the next 12 months.

Crypto Crash: Young and old investors alike navigate tough times

BUSINESS

Crypto Crash: Young and old investors alike navigate tough times

Despite the lack of regulations in India, many chose to invest in cryptos in the hopes of getting returns that are higher than any other asset class.

Food tech companies getting more orders; thanks to IPL, office reopening

BUSINESS

Food tech companies getting more orders; thanks to IPL, office reopening

Delivery is becoming a concern among companies including Swiggy and Zomato due to a high churn rate.

ApnaKlub raises $10 million from Tiger Global

BUSINESS

ApnaKlub raises $10 million from Tiger Global

Seller-focused startup ApnaKlub earlier raised $4 million from Sequoia India’s Surge, Blume Ventures, Whiteboard Capital and Flourish Ventures in August 2021.

Cryptocurrency industry braces for more uncertainty with proposed 28% GST

BUSINESS

Cryptocurrency industry braces for more uncertainty with proposed 28% GST

The industry is currently considering its options and is hoping to approach the government for talks on reconsidering the tax rate.

E-commerce enabler GoKwik raises $35 million in Series B funding round

BUSINESS

E-commerce enabler GoKwik raises $35 million in Series B funding round

Founded in 2021 January by Chirag Taneja, Vivek Bajpai and Ankush Talwar, GoKwik helps direct-to-consumer brands to personalise shopping experience for consumers.

Coinbase CEO Brain Armstrong: Disabled UPI because of informal pressure from the RBI

BUSINESS

Coinbase CEO Brain Armstrong: Disabled UPI because of informal pressure from the RBI

The Nasdaq-listed company clocked a revenue of $1.17 billion for the first quarter and reported a quarterly net loss of $430 million, compared with a profit of $840 million in the fourth quarter.

Swiggy halts Genie operations in multiple cities

BUSINESS

Swiggy halts Genie operations in multiple cities

Swiggy's Genie and Instamart offerings are only available in major cities.

Crypto exchange CoinDCX rolls out venture arm aiming to invest in Web3 startups

BUSINESS

Crypto exchange CoinDCX rolls out venture arm aiming to invest in Web3 startups

CoinDCXVentures has invested in seven Web3 startups including Web3 social network Taki, notification protocol EPNS, and cross chain solution Router Protocol.

Quick commerce market faces some fast facts

BUSINESS

Quick commerce market faces some fast facts

From restaurant aggregator Zomato’s 10-minute delivery to grocery delivery firm Zepto’s 10-minute food delivery service Café, the segment has seen some moves that change its underlying dynamic.

Josh Talks raises $3.5 million led by Ankur Capital and others

BUSINESS

Josh Talks raises $3.5 million led by Ankur Capital and others

Founded in 2015, Josh Talks has an average of 85 million monthly views across platforms and has forayed into interactive educational courses

Zomato founder Deepinder Goyal to donate ESOP proceeds worth Rs 700 crore to Zomato Future Foundation

BUSINESS

Zomato founder Deepinder Goyal to donate ESOP proceeds worth Rs 700 crore to Zomato Future Foundation

It comes at a time when Zomato has started its 10-minute delivery and is riding on Blinkit for its quick commerce.

User retention is flat post 40 minutes, 95% of Indian grocery basket can be covered in 10 minutes: Zepto founder and CEO Aadit Palicha 

BUSINESS

User retention is flat post 40 minutes, 95% of Indian grocery basket can be covered in 10 minutes: Zepto founder and CEO Aadit Palicha 

Zepto's strong operating and execution chops soon saw investor interest and steep valuations amid the funding boom in Indian startups.

Zepto, a 10 -minute grocery delivery app, raises $200 million at a valuation of $900 million

BUSINESS

Zepto, a 10 -minute grocery delivery app, raises $200 million at a valuation of $900 million

The startup was in fact looking to raise at a $1 billion valuation, which would have given it the unicorn status, but this didn't come through.

Licious invests $1 million in pet food startup Pawfectly Made

BUSINESS

Licious invests $1 million in pet food startup Pawfectly Made

Arpita Ganesh founded Pawfectly Made in 2020 who had earlier founded online lingerie brand Buttercaps which was acquired by Amazon.

D2C funding volumes flatline in March quarter as sector set to consolidate

BUSINESS

D2C funding volumes flatline in March quarter as sector set to consolidate

Beauty and wellness, apparel and accessories, and food will consolidate

Zomato's 10-minute delivery goes live in Gurugram

BUSINESS

Zomato's 10-minute delivery goes live in Gurugram

Zomato had faced a lot of flak from the netizens and delivery partners for this 10-minute strategy. However, the space is seeing quite a momentum with all the major players upping their quick commerce strategy.

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