Infibeam Closes Q3 FY24 with INR 900 Cr Revenue, Recording INR 41 Cr Profit
Three points you will get to know in this article: On Tuesday, Infibeam Avenues, a leading fintech company, unveiled its financial performance for the third quarter of the current fiscal year, Q3 FY24. The reported results paint a compelling picture, showcasing sustained growth in both revenue and profits. During Q3 FY24, Infibeam experienced a noteworthy 15.4% surge in revenue from…
Udaan Secures $340 Million in Series E Funding, Experiences 59.3% Valuation Dip
Three points you will get to know in this article: Udaan, the B2B e-commerce platform, recently revealed a substantial boost in funding with a noteworthy $340 million injection during its Series E round. The financing was jointly led by M&G Plc and Lightspeed Partners Venture, alongside ongoing support from existing investors like DST Global and Tencent, among others. It’s worth…
Snapdeal Records INR 388 Crore Revenue in FY23; Reduces Losses by 45%
Three points you will get to know in this article: In the realm of horizontal e-commerce ventures, Snapdeal, the Gurugram-based e-commerce platform, stands out for its unwavering commitment to profitability. Notably, the company has achieved a commendable feat by reducing consolidated losses by 45%, from Rs 510 Cr in FY22 to Rs 282 Cr in FY23. Impressively, Snapdeal achieved profitability…
Flipkart Secures $600 Million Investment from Walmart, Plans Operational Expansion
Three points you will get to know in this article: In a significant financial move, Flipkart, the leading player in the e-commerce domain, has successfully secured a substantial investment of $600 million or Rs 5,000 crore from its parent company Walmart through its investment arm, FIT HOLDINGS SARL. The decision to raise these funds was formalized by the Flipkart board,…
Festive Sale and Cricket Mania Propel ONDC Order Volume to 12 Lakh During Diwali Week
Three points you will get to know in this article: Taking advantage of the joyful holiday spirit, the government-supported Open Network for Digital Commerce (ONDC) proudly logged an impressive 1.2 million transactions from November 6 to November 13, as revealed by exclusive ONDC data accessed by Inc42. Earlier this year, ONDC emphasized its aspiration for a daily transaction count of…
AJIO Unveils AJIOGRAM to Empower D2C Fashion Startups with Interactive E-commerce
Three points you will get to know in this article: Today, AJIO, the popular online retailer, excitingly introduced AJIOGRAM, a cutting-edge direct-to-consumer (D2C) platform filled with captivating content and interactive shopping experiences. This innovative move is designed to uplift Indian fashion startups that are reshaping the industry with their unique vision and inventive products. Accessing this platform is a breeze—simply…
Indian Startups Raise Over $1.2 Billion in Funding for October
Three points you will get to know in this article: October witnessed a promising surge in investments for Indian startups, aligning with historical patterns. This noteworthy uptick in monthly financial support arrives just as startups within the ecosystem are rallying to navigate through the challenges of funding constraints. Notably, an intriguing aspect is that a substantial one-third of the total…
Ontario Teachers’ Fund Receives CCI Approval for Minority Stake Acquisition in XpressBees
Three points you will get to know in this article: On Thursday, October 26, the Competition Commission of India (CCI) gave the nod to the Ontario teachers’ fund’s plan to secure a minority interest in the renowned logistics powerhouse, XpressBees. In its official decree, the CCI granted approval for the acquisition of a stake in BusyBees Logistics Solution, the parent…
Bespoke and Personalized: A New Tech Delivery Trend Captivating Consumers
Three points you will get to know in this article: Globally, the demand for electronics is on the rise, becoming an essential requirement in our daily lives. The 2022 global market witnessed a staggering value surpassing $740 billion. As consumers eagerly tailor their latest tech acquisitions, the tech providers mirror this enthusiasm in ensuring a personalized and efficient delivery process.…