-
The startup plans to use the funds to scale presence beyond 300 towns and deepen its reach in groceries and essentials
-
The Flipkart co-founder is betting on a new AI-native OS for brands, built by his former team at Scapic and Flipkart Labs
-
Moneycontrol was the first to write about Bansal’s plan, in August 2023. Opptra has already hired top executives from Amazon, Swiggy, Flipkart and others companies
-
The board changes reflect PhonePe’s aspiration to go for an IPO over the next couple of years.
-
The US was the default before the market opened up for tech IPOs (in India) but now it's clear that India is a great destination for tech IPOs, Bansal said.
-
“I give a lot of credit to the people who are making it work. There was Amazon, Flipkart and other big companies, all of them were trying to do this (but) the people who figured it out are new founders," said Bansal.
-
The entry comes at a time when venture funds are sitting on at least $12 billion in capital waiting to be deployed in India, the world’s third-largest startup ecosystem
-
The firm will likely use the funds for offline expansion of its brands Nomad Pizza and Sharief Bhai Biryani.
-
Binny Bansal’s decision to step down from Flipkart's board comes months after he sold his remaining stake in the firm and at a time when he is starting up again, in the e-commerce space with OppDoor.
-
Binny Bansal Resigns: Bansal has exited the board of Walmart-owned Flipkart, months after selling his remaining stake. He is also building a new e-commerce venture called OppDoor
-
The company is registered in Singapore and was incorporated in May 2021, per filings. OppDoor was earlier called Three State Ventures Pte Ltd, which is Binny Bansal’s venture capital firm that operates from Singapore.
-
Flipkart will use the money to expand its operations, strengthen its supply chain and bolster its tech capabilities.
-
The company will use the funds to add more financial services to the platform, including personal loans and insurance, and also hire more talent in product and tech development areas
-
Binny Bansal is not seeking external capital and will bootstrap the venture with his own wealth
-
After Sachin Bansal's exit, Binny Bansal had continued to hold a small portion of his stake in Flipkart after the acquisition.
-
Walmart has bought out Flipkart early investors Accel, Tiger Global and co-founder Binny Bansal has also fully divested his stake in Flipkart which is valued at around $35 billion.
-
The company, which was last valued at about $650 million when it raised about $63 million in November 2021 in a round led by Premji Invest, reported a net loss of Rs 98.6 crore in FY22, which was its first full year of operations.
-
The transaction, if it gets processed, will be among the largest individual investments in a new-age firm, similar to the $100 million bet taken by Flipkart’s other founder Sachin Bansal in Ola in 2018.
-
In a statement, Skill-Lync also said the founders of Crio will continue to focus on and run Crio’s business and growth, after the acquisition. The company, however, did not disclose the deal size.
-
In a statement, the company said it will use the fund to scale its team, and technology, and enrich the catalogue of experiences it can provide employees.
-
Nilekani added that for startups, depending on external capital exposes them to the vagaries of the market. Swiggy co-founder too believes they would like to trace the path to be more profitable.
-
Humantic AI is an artificial intelligence-based startup that aims to help sales people better understand prospective customers.
-
ED had filed a show cause notice against Bansal and nine others in July 2021, alleging FEMA violations in Flipkart.
-
The series A funding round saw participation from 28 founders and senior leaders of the startup ecosystem in India and Southeast Asia.
-
Curefoods will acquire fast-growing online food brands, a large market after the advent of Swiggy and Zomato
