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Business-to-business (B2B) e-commerce platform <keyword id="6357316" type="General" weightage="100" keywordseo="udaan" source="Orion">Udaan</keyword> has raised $120 million in convertible notes and debt, as it plans an initial public offering (IPO) in the next 12-18 months amid the <keyword id="6357455" type="General" weightage="20" keywordseo="funding" source="Orion">funding</keyword> winter. Udaan's chief financial officer <keyword id="2753906" type="General" weightage="50" keywordseo="aditya-pande" source="Orion">Aditya Pande</keyword> wrote in an email seen by IANS that with this round, the total funds raised by Udaan through convertible notes and debt in the last four quarters have crossed $350 million, making it one of the largest structured instrument fundraises in the country. "Despite the funding-related challenges being experienced by the larger start-up ecosystem, this fundraise reflects the confidence of investors in our business model and their endorsement of the journey to unit economics, driven by great progress in the evolution of our business model and cost efficiency, that we initiated last year," said Pande. He added that these steps have not only helped us achieve positive unit economics last quarter, but also improved efficiency in the system, with huge cost benefits, "which is key to building a sustainable business, and being public market-ready in 12-18 months". The Bengaluru-headquartered startup improved its unit economics by "1,000bps with equally strong improvements in both gross margins and operating cost," said Pande. "The journey of right business design and unit economics has translated into over 60 per cent reduction in the burn. Continued focus on customer-first thinking and initiatives on strengthening our value proposition for them have resulted in monthly buyer repeat rates increasing by more than 500 bps in the last 2 quarters," he added. Earlier this year, Udaan raised $250 million, $200 million in a convertible note and $50 million in debt. In the calendar year 2021, Udaan raised $500 million, taking its total raise to $1.4 billion to date. To cater to the growing demand, Udaan plans to scale its warehouse capacity to 50 million square feet across the country in the next seven-eight years. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/jiomart-on-whatsapp-is-a-big-opportunity-for-paid-messaging-market-zuckerberg/articleshow/95114891.cms">JioMart on WhatsApp is a big opportunity for paid messaging market: Zuckerberg</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/kkr-to-acquire-digital-services-transformation-company-ness-digital-engineering/articleshow/95119920.cms">KKR to acquire digital services transformation company Ness Digital Engineering</a>

Udaan raises $120 mn in funding winter, plans IPO in 12-18 months

New Delhi, Indian startups have raised $732.7 million across 107 deals in January this year amid layoffs, shutdowns and top-level exits. According to TheKredible's data, there were 70 early-stage deals with a total value of $314.4 million, and 21 growth-stage deals worth $418.3 million. There were 16 undisclosed rounds. In January, the total funding for startups experienced a significant decrease from $1.7 billion in the last month of 2023. It was also the lowest funding amount for January when compared to the last three years, reports Entrackr. Notably, no startup managed to secure funding above $100 million in January. <keyword id="20320433" type="General" weightage="20" keywordseo="vivifi" source="keywords">Vivifi</keyword>, a fintech startup, received the most funding in January, totalling $75 million. AiDash, wow! Momo, <keyword id="20450793" type="General" weightage="20" keywordseo="impact-analytics" source="keywords">Impact Analytics</keyword>, and BluSmart were among the five most funded companies last month. Three companies in the growth stage, OneCard, Infra.Market, and Yulu, have raised debt funding, as per the data. <keyword id="20450792" type="General" weightage="20" keywordseo="krutrim-si-designs" source="keywords">Krutrim SI Designs</keyword>, led by Bhavish Aggarwal, has announced $50 million in funding, making it the fastest unicorn in the Indian startup ecosystem. International Battery Finance and three fintech startups - StockGro, FinAGG, and Ecofy - made the top five list. StockGro raised the most debt last month, the report noted. Layoffs continued to stalk startups, with more than 600 layoffs across three companies. Online food delivery platform Swiggy led the way with 350 layoffs, followed by Cult.fit and InMobi. Flipkart, an e-commerce marketplace, was also in the news for firing over 1,000 employees. In addition to layoffs, several top-level employees left Indian startups. Udaan alone saw two departures, including CFO Aditya Pande and FMCG business head <keyword id="20400665" type="General" weightage="20" keywordseo="vinay-shrivastava" source="keywords">Vinay Shrivastava</keyword>. The CEOs of Indus Appstore and KnowledgeHut, both owned by PhonePe, and the co-founders of DealShare and Fashinza have left. Besides layoffs, cricket non-fungible token (NFT) platform Rario and ByteDance's <keyword id="20158260" type="General" weightage="20" keywordseo="resso" source="keywords">Resso</keyword> announced to shut down operations.

Indian startups raised $732 million across 107 deals in January

<ul><li>The B2B e-commerce platform cheers the latest fundraise especially as the startup industry is currently going through a tough time finding investors to pump in the money. </li><li>A recent PwC India report stated that <keyword id="2924060" type="General" weightage="20" keywordseo="startup-funding" source="Orion">startup funding</keyword> hit a two-year low at $2.7 billion across 205 deals in the July-September quarter. </li><li>Udaan is also targeting to go public in the next 12-18 months. </li><li>The company has been restructuring its business model and focusing on cost efficiency as it plans to achieve profitability soon. Presently, Udaan is among top loss-making unicorns. </li></ul>While the whole startup ecosystem is facing a funding crunch this year, this outlier startup – a business-to-business (B2B) e-commerce platform called Udaan – has raised $120 million in convertible notes and debt. With this round, the total funds raised by Udaan through convertible notes and debt in the last four quarters have crossed $350 million. Udaan enables small manufacturers, farmers, and brands to market and sell their products across the country at low cost with 100% payment security and complete transparency. The company cheers the latest fundraise especially as the startup industry is currently going through a tough time finding investors to pump in the money. “Despite the funding-related challenges being experienced by the larger start-up ecosystem, this fund raise reflects the confidence of investors in our business model and their endorsement of the journey to unit economics, driven by great progress in evolution of our business model and cost efficiency, that we initiated last year,” said Udaan’s chief financial officer Aditya Pande in a mail to employees. In fact, a recent PwC India’s report stated that startup funding has hit a two-year low at $2.7 billion across 205 deals in the July-September quarter. Moreover, only two startups in India attained unicorn status in the same quarter. This mirrors a global trend which too saw a decline in the number of new unicorns last quarter. Experts have found it hard to predict the end line of the funding slowdown as investors remain cautious in a volatile environment. “It is tough to predict how long the slowdown in funding will last but clearly, both founders and investors are being more selective and cautious in deal-making,” said Amit Nawka, partner-deals and India startups leader at PwC India. Besides, the B2B e-commerce startup is targeting to go public in the next 12-18 months. The company has been restructuring its business model and focusing on cost efficiency as it plans to achieve profitability soon. Presently, Udaan is among top loss-making unicorns. It has now become crucial for startups to achieve profitability before going public as investors have become very cautious about investing in loss-making startups as seen in the cases of Nykaa, Paytm and Zomato.

Amid startup funding crunch, Udaan raises $120 million and plans IPO after a year

<ul><li>Over the years, jingles have proven to be effective for brands in helping them differentiate themselves and create a unique identity.</li><li>However, we haven’t heard too many jingles lately. Much to our delight, a Genie has finally heard our prayers and granted our wish.</li><li>There’s a new jingle in town that the internet is humming to. It is <keyword id="9167642" type="General" weightage="20" keywordseo="swiggy-genie" source="Orion">Swiggy Genie</keyword>’s ‘<keyword id="12405659" type="General" weightage="20" keywordseo="genie-dekh-lega" source="Orion">Genie Dekh Lega</keyword>.’</li></ul>Remember those old, golden days when you would actually turn on your television’s volume during a commercial break to hear ‘Washing Powder Nirma’ or Badshah Masala’s jingle and your whole family would join in and hum along? Be it Lijjat Papad from the 90s or Idea’s Hunny Bunny from the early 2000s, jingles hold a special place in our hearts. They are still fresh in our memories like they were launched yesterday. Over the years, jingles have played a critical role in building a brand’s identity -- helping them stand apart from the crowd because jingles stick and leave a long-lasting impression on consumers’ minds. However, lately, we haven’t been hearing too many jingles in India. Granting our wish to revisit these old days, <keyword id="6358977" type="General" weightage="80" keywordseo="swiggy" source="Orion">Swiggy</keyword> Genie has come up with the new earworm, a jingle called ‘Genie dekh lega.’ <div type="javascript" title="Instagram" contenttype="Video"><cdata><![CDATA[ ]]></cdata></div> Conceptualised by Schbang, Swiggy has launched a new campaign that aims to position it as a brand that comes to its consumer’s rescue even at the eleventh hour. With a catchy jingle that will make a home in your mind, Swiggy reminds the audience that no matter how small the item is -- be it a lehenga or a charger or sending a Diwali gift to your loved ones -- it will deliver it to you or for you. Commenting on the release of the film, Rishabh Pande, Creative Lead at Schbang said, “When you land a brief from Swiggy India, you need to tell yourself as a creative to take the excitement down a notch and channel that energy to create work that takes creativity up a notch. This film isn’t memorable because it chose to explore humour, like all Swiggy ads, but because it chose to explore and own a category unlike any Swiggy ad we’ve seen before. That’s where the idea of this ear-worm was born and boy does it deliver.” Sneha John, Director, Marketing at Swiggy said, “Festivals like Diwali see a lot of consumers using Genie to run last minute errands for the home or to send sweets and homemade treats to family and friends. With this film, we want to showcase Genie as an always dependable service that comes to your aid for last minute Diwali shopping and party needs.” According to the Oxford Dictionary, a Genie is a spirit of Arabian folklore, as depicted traditionally imprisoned within a bottle or oil lamp, and capable of granting wishes when summoned. Swiggy has been focusing on establishing its delivery associates as superhumans of sorts, a genie, to be precise. It grants your wishes anytime you summon it and deliver to you in a jiffy -- as if appearing from thin air. Before the ‘Genie Dekh Lega’ advertisement, Swiggy ran a campaign called ‘Swiggy Genie’s got your back.’ It shows how Swiggy can share the load if you have got a lot on your plate and pick up your grocery for you. <div type="Youtube" id="Rqjyt2iTlMI" title="Tired of being a running Ranjith? Swiggy Genie's got your back!" thumbUrl="https://i.ytimg.com/vi/Rqjyt2iTlMI/mqdefault.jpg"></div> <div type="Youtube" id="8gEcscom18s" title="On the go all day? Swiggy Genie is here to help." thumbUrl="https://i.ytimg.com/vi/8gEcscom18s/mqdefault.jpg"></div> When the Indian Government announced the country's first lockdown last year in March 2020 and said that only essential service providers were allowed to function, Swiggy came up with the idea of launching Swiggy Genie. Whether it was flu medicine or healthy food, Genie has been helping end-users to make instant deliveries from one point to another. Client: Swiggy India Agency: Schbang Production House: Schbang Motion Pictures Head, Schbang Motion Pictures: Abhimanyu Balasubramanyam Director: Nilay Singh Cinematographer: Jay Charola Executive Producer: Raashi Priya Nahata Associate Producer: Rahul Rohra Music Composer - Kanishk Seth Chief Assistant Director: Sohil Kohli Line Producer - Durgesh Dadhich (OMG Productions) Production Manager - Lalit Sippy DA - Gaurav Ahuja 2nd AD: Rishabh Sharma Art Director: Prince and Team Costume Stylist: Vidhi Gurnani Hair and Makeup - Priti Pannu Vice President- Isha Amin Group Solutions Manager - Sanjana Jaikishin Rohera Creative Director - Aditya Mehendale Group Creative Manager- Tanaiya Saigal Creative Lead - Rishabh Pande Sr. Creative Strategist- Pearl Alex Account Lead- Mehernaz Mistry Sr. Solutions Strategist - Janya Sindhu Business Development Manager- Radhika Raheja Sr. BD Executive- Jinita Shah Creative Strategist- Simran Kumar, Rebecca D'silva Cast - Manoj Mathew, Shruti Puranic, Usha Palan, Vallabh Gada, Myra Shah Support Cast- Deven Patel, Devendra Ahirwal, Nihal Nischal, Gaurav Ahuja, Rishabh Pande, Rishabh Sharma, Prakhar Casting Director- Shubham Tiwari and Team Offline Editor - Vishnu Prasad Designer - Ayushi Bhawsar and Abhishek Shigwan Animation- Nitin Malekar Colourist- Christian Leivia Online- After Studio Sound Mix and Master - Kardam 1st AC- Kshitij Singh Gaffer- Rajesh Singh Focus Puller- Chandan Yadav Camera Equipment - Uni10 Media Works Pvt Ltd Light Equipment - Light World Storyboard - Akhilesh Catering - Nathmauli Spot Team - Noor Alam Sheikh and team Accounts - Suryakant Bondre, Prathamesh Patkar and Kailas Salunke Location- SS bunglow Location manager- Laxman Rathore and team Office Boy - Vaibhav Kamble

There’s a new jingle in town as Swiggy uses the power of music to connect with its audience and establish itself as a last-minute Genie coming to your rescue

New Delhi, Jan 29 () The NGT asked the Central Pollution Control Board on Wednesday to submit a fresh report on Amazon and Flipkart's compliance of plastic waste management rules, a day after the CPCB said the e-commerce giants need to collect the waste generated due to packaging of their products.
Hearing a plea filed by a 16-year-old boy to stop Amazon and Fli pkart from excessive plastic use in packaging, the National Green Tribunal said it is for the regulator CPCB to enforce the rules.
Advocate Balendu Shekhar, appearing for CPCB, told the bench headed by NGT Chairperson Justice Adarsh Kumar Goel about the non-compliance of plastic waste management rules by the e-commere giants, saying the e-commerce firms need to fulfil their extended producer responsibility under the rules.
They use excessive plastics for packaging but have not registered with CPCB, Shekhar said, adding the companies should obtain registration as brand owner after submitting relevant documents.
Advocate Sanjay Upadhyay, appearing for Amazon, told the green tribunal they will comply with all formalities on extended producer responsibility by June 30.
The bench, however, asked them to approach the CPCB and posted the matter for hearing on April 22.
On Tuesday, the CPCB told the NGT that as per provisions 9(2) of the Plastic Waste Management Rules, 2016, "Primary responsibility for collection of used multi-layered plastic sachet or pouches or packaging is of producers, importers and brand owners who introduce the products in the market.
"Amazon Retail India Private Limited and Flipkart Private limited are involved in packaging and selling of other companies' products and thus introducing plastic packaging in the market. They need to fulfil their extended producer responsibility under PWM Rules and should obtain registration as brand owner after submitting proper documents," CPCB said.
Aditya Dubey, the petitioner in the case through advocate Divya Prakash Pande, has pleaded the NGT to direct Amazon and Flipkart to stop excessive use of plastic in packaging.
Responding to the plea, Amazon India said it has been "relentlessly" working to reduce single-use plastic in its supply chain and is committed to eliminating its usage in their buildings by June 2020.
"Towards this, we have introduced 'paper cushions', which have completely replaced plastic dunnage across our fulfilment centres in India. We also ensure that packaging material in the form of corrugate boxes and paper cushions contains as high as 100% recycled content and is also fully recyclable. To reduce packaging waste and use of plastic, 'Packaging Free Shipment' (PFS) has now expanded to 20 cities within a year," an Amazon India spokesperson said Tuesday.
Flipkart said it has been "constantly striving to find eco-friendly alternatives for plastic packaging which is resilient and keeps the product safe during transit".
"The company firmly believes in the principle of 'business with a purpose' and we are aware of our responsibility towards the environment," a Flipkart spokesperson said.
Dubey's plea has contended that the companies deliver items in cardboard boxes, which are too large when compared to the size of the items being delivered.
The plea has also said that though the home-delivery service of e-commerce companies have been very useful for consumers, they have given rise to serious environmental challenges. Once goods are delivered, the plastic waste is thrown away in garbage and it ends up at landfill sites, it said.
"Single-use plastic has emerged as one of the biggest environmental challenges for our planet. It is cheap, useful, ubiquitous and very deadly," the petition has said. PKS PKS ABH
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Udaan raises $120 mn in funding winter, plans IPO in 12-18 months

IANS

Indian startups raised $732 million across 107 deals in January

IANS

Amid startup funding crunch, Udaan raises $120 million and plans IPO after a year

Bhakti Makwana

There’s a new jingle in town as Swiggy uses the power of music to connect with its audience and establish itself as a last-minute Genie coming to your rescue

Karuna Sharma

Submit fresh report on compliance of plastic rules by Amazon, Flipkart: NGT to CPCB

PTI

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