SHIPROCKET GROUP
Paytm’s lending biz in trouble; inside Tata Digital’s top-level churn
Happy Wednesday! Paytm’s lending business has hit a roadblock as partner NBFCs have stopped issuing loans. This and more in today’s ETtech Morning Dispatch.
A week of hits and misses in fintech; and other top tech, startup stories
Hi, this is Pratik Bhakta in Bengaluru. It’s been a busy news week for us here at ETtech covering some of the most important stories in the fintech space. We had a string of big exclusives, wrapping it up here just in case you missed reading them.
End of Paytm’s existing wallet biz; Tribe Capital’s India play
Happy Tuesday! Regulatory actions have crippled Paytm Payments Bank's mobile wallet business. This and more in today’s ETtech Morning Dispatch.
Lightspeed partners Abhishek Nag, Vaibhav Agrawal quit
Vaibhav Agrawal is set to launch his own venture firm. Abhishek Nag has joined Mumbai-based 360 One (formerly IIFL Wealth & Asset Management) to lead early-stage investments. has joined Mumbai-based 360 One (formerly IIFL Wealth & Asset Management) to lead early-stage investments.
Quick-commerce grows beyond grocery; Tribe Capital’s latest India bet
Happy Friday! Quick-commerce platforms like Zepto, Swiggy’s Instamart, and Zomato-owned Blinkit are seeing a surge in sales for non-grocery items as they take on ecommerce rivals. This and more in today’s ETtech Morning Dispatch.
World View: Shiprocket’s Saahil Goel on why travel makes him a better entrepreneur
Saahil Goel, MD and CEO, Shiprocket loves to travel; believes it makes him more observant to nuances in products and services across different countries. His only pet peeve: Lengthy, inefficient airport lines
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Funding winter or not, startups loosen purse strings to reward top talent
Giving high increments, stock options, bonuses, global roles and accelerated promotions to ringfence people who are critical to business.
Flipkart’s $1 billion fundraise; Zomato offers to acquire Shiprocket
Ecommerce giant Flipkart is in the middle of closing a $1 billion funding round in which Walmart has committed $600 million. This and more in today’s ETtech Top 5.
ET Soonicorns Summit 2023: From Mama Earth IPO to Good Glamm Group’s content-to-commerce model and omnichannel strategies, experts on the evolution of D2C ecosystem
The Delhi-NCR edition of the ET Soonicorns Summit 2023 delved into the direct-to-consumer ecosystem, encompassing brands as diverse as the Good Glamm Group, a global beauty conglomerate from India, to Radhika Ghai-led KindLife and ShopClues and enablers such as ShipRocket and Fashinza. With Mama Earth making its public-market debut, it’s only time to note what founders and ecosystem experts had to say about the trajectory of the D2C space as the story of consumerisation 2.0 gains momentum in India.
For companies, cricket World Cup's now a KRA
Companies including Godrej & Boyce, Physics Wallah, Urban Company, Shiprocket, The Sleep Company, Simpl, VideoVerse and TheMathCompany have plans to screen matches, with some going beyond to organise World Cup-themed contests, reward employees with passes to some matches, and curate special menus on match days, among other initiatives.
Consumer spending to exceed $4 trillion by 2030, UPI most preferred option: Report
According to the Shiprocket report, the UPI has emerged as the most preferred prepay option in terms of consumer preferences.
Dunzo shifts growth gears; Shiprocket is 20th unicorn of 2022
After that round, the company stepped on the gas as it looked to expand operations amid intense competition from rivals like Swiggy’s Instamart, Zepto, and BigBasket’s BB Now, a new entrant.
Shiprocket is 20th unicorn of 2022; Flipkart gives Walmart an ad boost
Shiprocket becomes India's 106th unicorn.
Brands deal with necessary pain of reverse logistics as Indians return 30% of e-commerce purchases
Online sellers, especially the smaller ones, struggle with the complexities of reverse logistics. While it is unavoidable, they can manage it better to enhance customer satisfaction and higher sales.
PharmEasy may take 25% valuation cut; B Capital raises $250M for early-stage bets
PharmEasy is ready to take a valuation cut of up to 25% to bag $200 million from investors amidst the ongoing funding winter, sources told Reuters
Shiprocket acquires Arvind Ltd’s Omuni for Rs 200 crore in cash and stock
The transaction will enable faster deliveries of shipments from the nearest store or warehouse, reducing delivery timelines and enhancing customer experience, Shiprocket said.
Singapore's Temasek may slow India play to ride out storm
Temasek, which deployed over $1 billion in the country last year and counts new-age businesses, said returns for the latest fiscal year are down to 5.8% as of March 31 from 25% in the previous year.
D2C oral beauty, wellness brand Perfora raises $1 million in funding led by Sauce
Perfora will use the funds to build its team, introduce a range of innovative oral care solutions, strengthen its brand positioning, and expand distribution.
Riverwalk Holdings launches Rs 150 crore fund to back early-stage companies
Riverwalk has a sector agnostic investment approach with preferred sectors such as enterprise SaaS, fintech and consumer-tech and consumer brands.
Temasek to anchor InfoEdge funds, to put half of corpus
InfoEdge, an early backer of food delivery app Zomato and online insurance aggregator PolicyBazaar, takes initial bets in companies and backs it with more capital in subsequent rounds.
RenewBuy appoints Gautam Bansal as CFO
Gautam Bansal has worked at organisations like EY, InterContinental Hotels Group, Macquarie, Shuttl, to name a few. He has been associated with multiple financial advisory functions of companies, as well as start-ups operating in e-commerce, logistics, consumer goods, assurance advisory and banking industry. In his previous role, he was the head of finance at Shiprocket.
NCLAT to hear Amazon next week; Zomato’s Goyal invests in Park+
Amazon will ask the National Company Law Appellate Tribunal (NCLAT) next Monday to stay the Competition Commission of India’s (CCI) order suspending its approval for Amazon’s 2019 deal with Future Coupons.
Stocks in the news: Shriram Properties, Airtel, Zomato, ITC and Future Group
Shriram Properties, the south India-based real estate player, will make its Dalal Street Debut on Monday. It sold its shares in the range of Rs 113-118 between December 8-10 to raise Rs 600 crore.
Google caves again on Play Store; Goyal denies conflict of interest
Over the past year, Google has been under pressure worldwide to lower its steep Play Store commissions and allow other payment methods. Now, the tech giant has postponed the implementation of its new Play Store billing policy for the second time in two months.
Zomato Q2 revenue surges to Rs 1,024 crore; firm invests in Curefit, Magicpin and Shiprocket
Online food delivery firm to invest $1 billion more in startups, large part of it to be in quick commerce
Ola Electric raises $200M; Meesho’s valuation nears $5B
Ola Electric, the company that’s on a mission to ensure that no petrol two-wheelers are sold in India after 2025, said today that it has raised new funding from investors including Falcon Edge and SoftBank at a valuation of $3 billion.
Shiprocket looks to land $200m; ecomm firms begin festive season hiring
Shiprocket, a company that collects goods from online businesses and sends them to delivery companies, is finalising a new round of funding led by Temasek.
Small businesses thrived without Amazon or Flipkart. So did the logistics industry
With small businesses finding solace in the e-commerce model, the logistics industry tagged along.
Logistics startup Shiprocket elevates CBO Akshay Ghulati as co-founder
Shiprocket recently raised Series C round funding of $13 million from Tribe Capital, Innoven Capital along with existing investors including Bertelmann
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