BUSINESS
Wakefit raises Rs 320 crore in Series D funding
Wakefit plans to open 100 stores across 20 cities in the next 24 months, co-founder Chaitanya Ramalingegowda told Moneycontrol.
BUSINESS
CoinDCX starts restructuring business units, lays off employees
The marketing, branding, and activation teams were most affected by this restructuring.
BUSINESS
Coinbase to let go 20% of its workforce; shut down several projects
In June last year, Coinbase laid off 18 percent of its employees, of which 8 percent in India was affected. Armstrong then said that the company overhired
BUSINESS
Food brand The Whole Truth raises $15 million in Series B led by Sequoia Capital
TWT, which was founded in 2019 by Shashank Mehta, an ex-Unilever marketeer, makes educational content that helps consumers understand and decode their food choices. Its offerings include chocolates, protein bars, peanut butters, and muesli.
BUSINESS
CoinSwitch releases proof of reserves, reveals $131.09 million in assets
Coinbase-backed CoinSwitch has a total asset value on custodial wallets of approximately Rs 933.83 crore, and a total asset value on exchanges of approximately Rs 149.62 crore.
BUSINESS
From pizzas to biryanis, here's what India ordered on New Year's Eve
Cloud kitchens across the board saw brisk business on New Year's Eve, but categories like pizza and biryani reigned supreme when it came to customer preferences.
BUSINESS
With 91 crore orders in 2022, Meesho sees YoY growth of 135%
Meesho started out with a thrust on social commerce, but it has been increasingly focusing on direct sales and now derives 75 percent of its business directly from customers, while 25 percent comes from resellers.
BUSINESS
WazirX trading volume sinks 76% to $10 billion in 2022
The exchange said it signed up 2,122,925 new users this year and 27 percent of the first-time crypto buyers on WazirX bought Shib tokens.
BUSINESS
Machine-made biryani? How robotics and automation is taking over cloud kitchens in India
A few Indian startups like Mukunda Foods, Xook and On2Cook are trying to build the so-called food-as-a-service (FaaS) business by adding robotics to the kitchen menu. These machines guarantee to prepare food faster with consistency without or minimal manual labour
BUSINESS
The Good Glamm Group acquires majority stake in Twinkle Khanna's Tweak India
Tweak India, based in Mumbai, will operate under Good Media Co, led by Priyanka Gill, co-founder of the Good Glamm Group and CEO of Good Media Co.
BUSINESS
Aditya Birla Group’s TMRW to invest Rs 500-600 crore in 10-12 D2C brands by year end
The house of brands venture aims to become a $1 billion business and has already invested around Rs 290 crore on eight brands.
BUSINESS
Packaging as a service: This start-up is looking to replace single-use plastic food containers
InfinityBox, started by IIT Kharagpur graduates Shashwat Gangwal and Keshav Godala, has been piloting the use of reusable Tupperware-like containers with some restaurants in Bengaluru and Mumbai
BUSINESS
CoinDCX publishes Proof of Reserves, CEO Sumit Gupta says exchange will take more steps towards transparency
Following the fall of the erstwhile second-largest global crypto exchange FTX, its token FTT and the subsequent bankruptcy, debates have picked up around the need for exchanges to be more transparent.
BUSINESS
Swiggy's food delivery GMV surges to $1.3 billion in 6 months of 2022: Prosus
As per the report, total quick commerce and gross merchandise value grew 20 times and 15 times respectively during the first six months of this year.
BUSINESS
Tea cafe chain Chai Point aims for IPO in 18-24 months
Its brewing machines, through which it is unlocking new partnerships, come with an Android software where consumers’ tea-related preferences can be customised through an app and saved for the future to ensure consistency.
BUSINESS
Zomato begins layoffs across functions; plans to shrink workforce by 4%
At least 100 employees have been already impacted across functions such as product, tech, catalogue and marketing. The company plans to layoff atleast 4 percent of its total workforce.
BUSINESS
Binance-FTX saga will have ripple effect on regulation, hiring, confidence: Indian crypto founders
In India, a mix of regulatory uncertainty, hefty taxation, and declining cryptocurrency prices have taken a toll on startups, exchanges, and companies in the sector.
BUSINESS
Employees abandon the crypto dream for more stable, traditional jobs
Crypto entities seek new growth avenues as employees depart amid uncertainty
BUSINESS
How Instagram Reels is tripping up small sellers in India
Small sellers are finding it difficult to make videos to promote their products, given the costs and efforts, while buyers are left searching for quality and desired products.
BUSINESS
Tata-backed fitness chain Cult.fit gears up to float IPO in 12-18 months
The firm has also grown its revenues by 50 percent after the pandemic is now operationally profitable. On the average, a fitness centre sees around 250-300 footfalls. Online classes contribute to 10 percent of the overall business
BUSINESS
Nischal Shetty's Shardeum raises seed round of $18.2 mn at a $200 mn valuation
Shetty expects the network to grow over the next 3-4 years, as the ecosystem moves from exchanges to decentralised products. The network also plans to cap the gas fee at Rs1-2
BUSINESS
With Flipverse, Flipkart brings shopping into the metaverse
Flipkart has already tied up with around 20 brands for Flipverse. Some of the brands on the list are Colgate, Lavie, Noise, Puma, Noise, Nivea, Tokyo Talkies, Campus, VIP, Ajmal Perfumes, Himalaya and Butterfly India.
BUSINESS
Fireside Ventures is latest India-dedicated VC to raise its largest-ever $225-million fund
Fireside Ventures is the latest VC firm to raise a large India-dedicated fund, joining the likes of Sequoia Capital, Accel, Elevation Capital and Matrix Partners
BUSINESS
Licious bets on 'house of brands', launches plant-based meat brand UnCrave
India’s plant-based meat sector is expected to grow to $400 million over the next two years and there are more than 200 such meat, dairy, egg and ingredient startups in the country, Plant Based Foods Industry Association has said
