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<div type="image" title="Indians are getting fancy, and they don&amp;#39;t mind paying a little extra if it means quality and luxury. Most consumer brands are witnessing an uptick in their premium product segment" msid="115018213" hostid="261" caption="&amp;lt;p&amp;gt;Indians are getting fancy, and they don&amp;#39;t mind paying a little extra if it means quality and luxury. Most consumer brands are witnessing an uptick in their premium product segment&amp;lt;/p&amp;gt;"></div> It's time to move over from plain, vanilla budget basics! Indians are no longer looking for “best purchases and value buys under Rs 1,000”—at least not as much as before. <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>'s getting fancy, and how! From gold-flaked chocolates to swanky SUVs that look like they’re wheeled straight out of a Bollywood blockbuster, Indian companies are rapidly jazzing up their product lines, even faster than you can say the word "premiumization." But what does this mean for Indian companies and consumers? What is this jazz about premiumization all about? Is it just urban India that’s riding this wave, or has rural India also joined the bandwagon? We decode for you. <h2>What's premium, really?</h2>Imagine you’re eating Pav Bhaji at a roadside thela. Later during the day, you decide to dine out at a fancy, upmarket cafe, only to find Pav Bhaji Fondue on the menu. Same same, but much more expensive—often 5 to 10 times higher—for a little more hygiene and some better ambience! Think of premium products as this fondue. They are a notch up your regular, daily-use products soaps or shampoos, and even cars, all packaged luxuriously, offering just about the right touch of quality. The main differentiator, though, would be the price range. <h2>Driving home premium wellness</h2>A recent report by Nielsen suggests that over 70% of urban Indians are okay with paying a premium for their products. And companies are cashing in on this sentiment like never before. This explains why 58% of new products launched so far this year have been in the premium+ segment, as opposed to just 38% of new launches in regular, traditional trade. Take cars, for instance. Indians are no longer vying for a good old <keyword id="19950117" type="General" weightage="20" keywordseo="maruti" source="keywords">Maruti</keyword> 800 or <keyword id="20400567" type="General" weightage="20" keywordseo="alto" source="keywords">Alto</keyword>, traditionally known for their healthy mileage, but are rather happy investing in more swanky features that come along with high-end cars. In October 2024, India’s largest car manufacturer, <keyword id="19909974" type="General" weightage="20" keywordseo="maruti-suzuki" source="keywords">Maruti Suzuki</keyword>, sold 65,948 units of its compact cars like Swift, WagonR, Dzire, and more. Compared to the year-ago period, which saw sales of 80,662 units, this was an 18% dip. But take a look at their SUV (sport utility vehicle) sales for the same period. Cars like Brezza, Ertiga, and Grand Vitara sold about 70,644 units, a 19% uptick from the sales made in October 2023, i.e. 59,147 units. Simply put, when it comes to cars, Indians are saying the bigger, the better! The same is true for India's second biggest automobile manufacturer, Hyundai. Its SUV lineup made up a staggering 68.2% of the firm's total sales made for October 2024. What's more, SUV demand remained largely consistent across urban and rural markets. <h2>Consumers are inching up</h2>FMCG (fast-moving consumer goods) are also riding the premiumization wave, with Indians prioritizing their health and wellness and not bothered about dishing out a few extra bucks for the same! You’ll find no dearth of words like organic, vegan, gluten-free, and sugar-free, peppered generously over every product you’ll see today, be it soaps, juices, or more. No wonder then, sales from premium segments in 2024 make up around 27% of all FMCG sales and even contribute a massive 42% to the sector’s value growth in India. Nielsen report further adds that luxury brands that position themselves at twice the price of their category’s average are even witnessing stellar growth. In fact, for most FMCG brands like Tata Consumer Products, <keyword id="20002610" type="General" weightage="20" keywordseo="hindustan-unilever" source="keywords">Hindustan Unilever</keyword> (HUL), Dabur, and Nestle, it is this premium segment that is growing much faster than their regular ones. And it's not just about daily-use products; Indians are also taking their celebrations a step over. Spirits manufacturer <keyword id="20125704" type="General" weightage="20" keywordseo="radico-khaitan" source="keywords">Radico Khaitan</keyword> highlighted that for the first half of 2024, their prestige &amp; above segment made for 88.4% of its net sales value. In the same period, the regular popular segment accounted for just 9.1% of their net sales. From Hindustan Unilever, which saw its premium products grow 30% over the last quarter, to <keyword id="20521971" type="General" weightage="20" keywordseo="kingfisher" source="keywords">Kingfisher</keyword> beer's parent company, <keyword id="20124009" type="General" weightage="20" keywordseo="united-breweries" source="keywords">United Breweries</keyword>, whose premium product sales volume jumped by 27% during the quarter as opposed to just a 5% rise in overall volumes, everyone is seemingly taking their lifestyle a notch above. Per the Nielsen report, in 2024, a typical global consumer spends about $13.7k per year. This is set to grow by around 2.4% to $14k as early as next year. Even a report by Goldman Sachs also highlighted a similar trend, noting that India’s affluent class, or those earning over $10,000 (Rs 8,42,694.97), is set to reach 100 million in the next 3 years. And where will this consumer spend? On premium products! <h2>Online shopping shifts from mass to class</h2>Amazon’s Great Indian Shopping Festival, which was live between September 27 and October 29 this year, saw 140 crore customers, more than 85% of whom came from non-metro Indian cities. On the site, there was a 400% spike in sales in premium sales across categories like watches, fragrances, handbags, jewelry, and more. Rival <keyword id="19896939" type="General" weightage="20" keywordseo="flipkart" source="keywords">Flipkart</keyword> noted a similar trend, recording 1.8x growth in premium beauty and personal care products during the first half of this year. <h2>Dialing in premiumness</h2>The Indian smartphone ecosystem has always been dominated by basic phones, or those entry- and mid-range phones that are priced between Rs 10,000 and Rs 6,000. But that has changed in recent times, with premium smartphones (i.e., those priced over Rs 60,000) registering 20%+ growth in 2024. During the first quarter of this year, sales of mass phones (priced between Rs 10,000 and 20,000) reached 44%, compared to 51% in the year-ago period. But it's all sunny and shiny in the mid-premium (priced between Rs 40,000 and Rs 60,000) and super-premium segments (priced above Rs 60,000). Sales growth has burgeoned by as much as 27% and 86% in these categories, respectively. As India continues its march toward becoming the world's third-largest economy by 2027, the premium party is just getting started. Industry experts predict that premium segments will grow faster than you can say "sustainable organic handcrafted artisanal batch of coffee." So the next time you see someone dropping serious rupees on a fancy bottle of black water that also somehow plays music and tracks their hydration (yes, that's a thing), remember: This is just the trailer. Picture abhi baaki hai, mere dost! Do you have a topic in mind you'd want a simpler explanation for, or insights or experiences to share on personal finance and more? Contact us at businessinsider@timesinternet.in.

Simply Put: From Dal to Dolce—India is loving its luxury life

<ul><li><keyword id="19896939" type="General" weightage="20" keywordseo="Flipkart" source="keywords" meta.keywordsubtype="org" meta.entityname="Flipkart" meta.hostid="261" meta.entityid="Flipkart">Flipkart</keyword> is offering a huge deal on the <keyword id="21364120" type="General" weightage="100" keywordseo="iPhone-15-Plus" source="keywords">iPhone 15 Plus</keyword></li><li>The phone can be yours for under Rs 65,000</li><li>Other offers are available too</li></ul> Smartphones are a big part of our lives now and are no longer just a way to keep in touch. They’ve become our cameras, entertainment centres, work tools, and sometimes, even our escape. So, when it’s time to upgrade, you want to make sure you’re getting something that’s truly worth the investment. If you are an iPhone user and want to upgrade, or if you are looking to buy your very first iPhone, Flipkart might have something for you this Diwali. <h2>Flipkart’s Diwali offer on iPhone 15 Plus </h2> Right now, Flipkart’s <keyword id="23545955" type="General" weightage="20" keywordseo="Diwali-sale" source="keywords">Diwali sale</keyword> is offering a pretty tempting deal on the iPhone 15 Plus. Originally priced at ₹79,900, you can snag this beauty for just ₹65,999. This substantial discount makes it one of the most attractive offers on the market. But that’s not all. If you have an old smartphone lying around, you can exchange it and receive even greater discounts on the iPhone 15 Plus. This trade-in option allows you to save more, putting a premium device within reach without breaking the bank. Additionally, if you use an SBI bank card, you can snag an extra ₹1,000 off your purchase, making this deal even sweeter. This special offer is available until October 31. <h2>About the iPhone 15 Plus </h2> So, what makes the iPhone 15 Plus worth considering? For starters, its 6.7-inch Super Retina XDR display is a game changer. Whether you’re streaming your favourite shows, scrolling through social media, or gaming, the visual quality is nothing short of stunning. The display features ProMotion technology, ensuring smooth scrolling and fluid animations, enhancing your overall experience. Under the hood, the <keyword id="21673274" type="General" weightage="20" keywordseo="A16-Bionic-chip" source="keywords">A16 Bionic chip</keyword> powers this device, making it one of the fastest processors in the smartphone market. It handles multitasking with ease, allowing you to switch between demanding apps without any lag. Gaming enthusiasts will appreciate the phone’s ability to run graphic-intensive games smoothly. The <keyword id="20389151" type="General" weightage="20" keywordseo="camera-system" source="keywords">camera system</keyword> on the iPhone 15 Plus is another highlight. With a triple-lens setup and a primary 48MP sensor, you can capture sharp and vivid photos. The upgraded Ultra Wide and Telephoto lenses offer versatility, whether you’re photographing landscapes or zooming in on intricate details. And let’s not forget about the battery life. The iPhone 15 Plus is designed to keep up with your busy day, eliminating the need to constantly search for a charger. With features like an under-display fingerprint sensor for easy unlocking and a USB-C port for faster charging, this phone looks like it is built for convenience. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/iphone-15-pro-available-at-lowest-ever-price-on-flipkart-here-is-all-about-the-deal/articleshow/113804340.cms" data-type="tilCustomLink" target="_blank">iPhone 15 Pro available at lowest ever price on Flipkart, here is all about the deal</a> <a href="https://www.businessinsider.in/tech/mobile/news/iphone-16-pro-is-already-cheaper-than-the-iphone-15-pro-in-india-but-you-can-get-it-for-up-to-30000-cheaper/articleshow/113220789.cms" data-type="tilCustomLink" target="_blank">iPhone 16 Pro is already cheaper than the iPhone 15 Pro in India, but you can get it for up to ₹30,000 cheaper</a>

Thinking of upgrading your smartphone? iPhone 15 Plus can be yours for under ₹65,000

The much-awaited <keyword id="21033211" type="General" weightage="100" keywordseo="Flipkart-Big-Billion-Days" source="keywords">Flipkart Big Billion Days</keyword> Sale for 2024 is in full swing. Early access began for Plus members on 26th September, with the doors opening for all shoppers on 27th September. The sale brings massive discounts across an array of products, but the real stars of the show are the smartphones. If you're looking for a new device, here are five options priced under ₹30,000 that you can consider. <h2>1. <keyword id="23303478" type="General" weightage="20" keywordseo="Motorola-Edge50-Pro" source="keywords">Motorola Edge50 Pro</keyword> – Caneel Bay Colour </h2> Price: ₹27,999 The Motorola Edge50 Pro, now available in the Caneel Bay colour, made waves for offering premium features at a relatively affordable price point. With a sale price of ₹27,999, the phone appears to be a good deal. It features an AI-powered Pro Grade camera system, including AI Photo Enhancement, Adaptive Stabilisation, and autofocus tracking, which promises to bring professional-level photography to your pocket. The phone's camera is validated by Pantone for true colour accuracy, promising that every photo captures the vibrancy of real life. Adding a personal touch, the AI Generative Theming feature allows you to sync your phone’s style to your everyday look. The phone comes with a 125W TurboPower charging and 50W wireless charging. It is powered by the Snapdragon 7 Gen 3 processor. <h2>2. <keyword id="23341364" type="General" weightage="20" keywordseo="Samsung-Galaxy-S23-FE-5G" source="keywords">Samsung Galaxy S23 FE 5G</keyword> </h2> Price: ₹27,999 Another standout in Flipkart's Big Billion Days is the Samsung Galaxy S23 FE 5G. This sleek device, sporting a 6.4-inch Super AMOLED display with a 120Hz refresh rate, promises smooth performance for gamers and regular users alike. Powered by the Exynos 2200 octa-core processor, it can handle multitasking and gaming. The camera setup features a trio, with a 50MP main sensor, 12MP ultra-wide lens, and 8MP telephoto camera for detailed shots. The phone comes with a 4500mAh battery that promises to last all day. <h2>3. <keyword id="20853532" type="General" weightage="20" keywordseo="Nothing-Phone-2a" source="keywords">Nothing Phone 2a</keyword> </h2>Price: ₹20,999 Originally priced at ₹29,999, the Nothing Phone 2a is now available for just ₹20,999, offering incredible value during this sale. The 8GB + 128GB variant promises to provide a balanced mix of performance and storage, and for those needing more, the 8GB + 256GB model is also going for ₹20,999. The Phone 2a boasts a 6.7-inch AMOLED FHD+ display with an adaptive refresh rate, offering smooth visuals that adjust to your activity. Protected by Corning Gorilla Glass 5, it’s built to last. Powered by MediaTek’s Dimensity 7200 Pro chipset, the phone promises future software upgrades and extended support, including three Android version updates and four years of security patches—making it a long-term investment. <h2>4. <keyword id="21909682" type="General" weightage="20" keywordseo="POCO-F6-5G" source="keywords">POCO F6 5G</keyword> </h2> Price: ₹23,999 The POCO F6 5G is another great find in this year’s Big Billion Days Sale. This base model, featuring 8GB of RAM and 256GB of internal storage, delivers great value for money. Its 6.67-inch display promises vivid visuals, while the 50MP main camera with optical image stabilisation (OIS) captures sharp photos. With a robust 5000mAh battery, the phone claims to last through an entire day of heavy use, while 20MP front-facing camera promises clear and detailed selfies. <h2>5. Motorola Edge50 </h2>Price: ₹24,999 The Motorola Edge50 is one of the slimmest phones to achieve military-grade IP68 certification. The brand says that it is designed to withstand shocks, drops, extreme temperatures, and even water submersion for up to 30 minutes. The phone's standout features include a pro-level SONY LYTIA 700C camera system, complemented by motoAI and Google PhotosAI, promising top-quality photos with every shot. The phone comes with a 6.7-inch pOLED Super HD Curved display, protected by Gorilla Glass 5. Under the hood, it’s powered by the Snapdragon 7 Gen 1 Accelerated Edition, paired with 8GB RAM and 256GB of storage.

Flipkart Big Billion Days sale begins: 5 smartphone deals under ₹30,000

<keyword id="13654411" type="General" weightage="80" keywordseo="flipkart-ventures" source="Orion">Flipkart Ventures</keyword>, the $100 milion venture fund set up by <keyword id="6354742" type="General" weightage="100" keywordseo="flipkart" source="Orion">Flipkart</keyword>, on Thursday announced to invest in six early-stage tech startups as part of its accelerator programme. The six startups will receive an equity investment upto $500,000 from Flipkart and undergo 16-week mentorship under '<keyword id="14750758" type="General" weightage="50" keywordseo="leap-ahead" source="Orion">Leap Ahead</keyword>' programme. "Through this endeavor, we strive to be a catalyst in the growing startup community by continuing to expand our program each year and presenting growth opportunities to emerging entrepreneurs," said <keyword id="508911" type="General" weightage="50" keywordseo="ravi-iyer" source="Orion">Ravi Iyer</keyword>, Senior Vice President and Head, Corporate Development. The startups cover areas such as robotics, AI and personalisation, data analytics, supply chain solutions, insuretech, metaverse applications, and more. These are Dopplr (metaverse), Livwell (insurtech) <keyword id="9061594" type="General" weightage="50" keywordseo="logisticsnow" source="Orion">LogisticsNow</keyword>, <keyword id="14750756" type="General" weightage="50" keywordseo="neuropixel" source="Orion">NeuroPixel</keyword>.AI, <keyword id="14750757" type="General" weightage="50" keywordseo="rightbot-technologies-and-sellerapp" source="Orion">Rightbot Technologies and Sellerapp</keyword>. The startups will undergo the well-curated mentorship programme delivered through a customised curriculum, which has been designed by Bain &amp; Company. At the end of the programme, the startups will be able to present their ideas to potential investors and industry leaders on a 'Demo Day'. The Flipkart 'Leap Ahead' programme graduated its first cohort in July 2021 with eight startups that successfully pitched their ideas to investors and raised further funding. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/realme-9i-5g-vs-redmi-note-11-mobile-phone-comparison-of-price-and-features/slidelist/93636165.cms">Realme 9i 5G vs Redmi Note 11 – price, specs and features compared</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/new-maruti-suzuki-alto-k10-brings-premium-suv-features-in-a-compact-car/slidelist/93636927.cms">New Maruti Suzuki Alto K10 brings premium SUV features in a compact car</a>

Flipkart Ventures invests in 6 early-stage tech startups

New Delhi, Retail giant <keyword id="80487" type="General" weightage="50" keywordseo="walmart" source="Orion">Walmart</keyword> has reportedly paid $1.4 billion to acquire VC form <keyword id="526777" type="General" weightage="50" keywordseo="tiger-global" source="Orion">Tiger Global</keyword>'s remaining shares in the e-commerce major. According to a report in Wall Street Journal, <keyword id="80487" type="General" weightage="50" keywordseo="walmart" source="Orion">Walmart</keyword> has paid the money to boost <keyword id="6354742" type="General" weightage="100" keywordseo="flipkart" source="Orion">Flipkart</keyword>'s stake. "Purchase of shares from <keyword id="526777" type="General" weightage="50" keywordseo="tiger-global" source="Orion">Tiger Global</keyword> values the Indian e-commerce company at about $35 billion," the report said late on Sunday. Walmart purchased Tiger Global's remaining holding in <keyword id="6354742" type="General" weightage="100" keywordseo="flipkart" source="Orion">Flipkart</keyword> to further cement its control of the Indian e-commerce giant. Tiger Global made an overall gain of $3.5 billion on an investment of $1.2 billion, reports mentioned. Flipkart was earlier valued at $37.6 billion in a 2021 funding round. Walmart had 72 per cent share in Flipkart as reported last. Tiger Global held a 4 per cent stake in the e-commerce leader. Last month, Flipkart began a "one-time discretionary" cash payment of $700 million to employees following its separation from fintech firm PhonePe. In an email to employees, <keyword id="3515858" type="General" weightage="50" keywordseo="flipkart-group" source="Orion">Flipkart Group</keyword> chief executive <keyword id="6379357" type="General" weightage="50" keywordseo="kalyan-krishnamurthy" source="Orion">Kalyan Krishnamurthy</keyword> said, "We have exciting times ahead, and as we continue to grow across businesses, I look forward to your continued dedication and determination to bring about the future that we envision and scale new heights together." The <keyword id="15154047" type="General" weightage="50" keywordseo="phonepe-group" source="Orion">PhonePe Group</keyword> was acquired by the <keyword id="3515858" type="General" weightage="50" keywordseo="flipkart-group" source="Orion">Flipkart Group</keyword> in 2016. The Flipkart Group is one of India's leading digital commerce entities and includes group companies Flipkart, Myntra, <keyword id="7116339" type="General" weightage="50" keywordseo="flipkart-wholesale" source="Orion">Flipkart Wholesale</keyword>, Flipkart Health+ and Cleartrip. Started in 2007, Flipkart has enabled millions of consumers, sellers, merchants, and small businesses to be a part of India's digital commerce revolution, with a registered customer base of more than 400 million, offering over 150 million products across over 80 categories. --IANS na/dpb

Walmart buys Tiger Global's residual Flipkart stake for $1.4 billion

<ul><li> <keyword id="733500" type="General" weightage="80" keywordseo="accel" source="Orion">Accel</keyword>’s accelerator programme has pivoted to focus on two themes for early stage startups as it believes the opportunities are large in India and outside.</li><li> So far, <keyword id="6355999" type="General" weightage="60" keywordseo="ai" source="Orion">AI</keyword> has been used to analyse and predict consumer behaviour, but <keyword id="733500" type="General" weightage="80" keywordseo="accel" source="Orion">Accel</keyword> expects new startups that will help redefine the entire customer journey using <keyword id="6355999" type="General" weightage="60" keywordseo="ai" source="Orion">AI</keyword>.</li><li>If the economy has to double in the next ten years, then manufacturing will play a big role. </li></ul> As the third largest startup ecosystem in the world, India is home to more than 90,000 startups at the start of 2023. But the one question on top of everyone’s mind is: Where will the next Flipkart or Swiggy come from? With the era of easy money gone, the entire ecosystem – entrepreneurs, angel investors along with venture/private equity funds – are more interested in business models and path to profitability than they were ever before. Accel India, a leading venture capital firm that works with founders from seed to scale stages, has identified two key themes – AI and Industry 5.0 – as their next big bets. Accel should know this because the firm has invested very early on in startups like Flipkart, Swiggy, Freshworks and Zetwerk. The global venture firm is taking a structured approach to pursue opportunities that it believes will be very big in the next seven to ten years. Accel’s accelerator programme, Atoms 3.0, which it launched in 2021 has also pivoted from a horizontal programme to a thematic one. Says Barath Shankar Subramanian, partner at Accel, “Both these are here and now opportunities. Atoms gives us that early window into identifying some of those opportunities that will be relevant 7-10 years down the line because it is an early stage programme.” Accel launched its Atoms 3.0 in 2020 and so far two of its cohorts have raised $160 mn across 24 startups. In its third edition, the programe has been tweaked to focus on AI and Industry 5.0. This has been done after taking feedback from the entire ecosystem such that the programme could meet the needs of founders. Both these themes are here and now opportunities and the Atoms 3.0 gives the venture firm an early window into these opportunities that would become big 7-10 years down the line. Accel is not wrong in its choice of themes as both have immense potential. Since November 2022, generative AI (artificial intelligence) has touched the lives of students, elderly and consumers in many different ways. While students can get answers to their questions late into the night, stock market traders are asking AI powered astrology apps on what the stars foretell. Beyond the fun aspects, AI will transform B2C platforms and their interfaces. So far, AI has been used to analyse and predict consumer behaviour, but Accel expects new startups that will help redefine the entire customer journey using AI. In its blog, Seed to Scale, Accel says that it anticipates the birth of transformative consumer startups redefining how businesses can cater to both consumer needs &amp; desires. Manufacturing – the other theme that Accel is betting on – is already the talk of town. Accel has already made investments in ten companies in the Industry 5.0 space, with Zetwerk and Detect Technologies being its most successful bets. Explains Subramanian, “If the economy has to double in the next ten years, then manufacturing will play a big role. There are a lot of tailwinds to why manufacturing will take off in India. These opportunities will be both brownfield and greenfield. Because of what has happened in India on the digital side over the last ten years, we are seeing that there is a market and the proxy for that is looking at digital transformation spending. The new age greenfield manufacturing facilities that will have to focus on digital from day one. These tailwinds are at play.” The VC firm is certain that manufacturing in India is a long-term trend and both existing manufacturing companies and new age ones will have to digitise their operations. What the Atoms Programme does is to help the new startups attain scale much faster as it has thanks to the learnings they have from the earlier investments. Accel now does not need to reinvent the wheel as its Atoms 3.0 is customised for founders in India. Adds Subramanian, “A lot of thought goes into a new vertical since we are still looking for the next large company coming out of India. The next Flipkart and Swiggy will come from AI or Industry 5.0.” “While many in the industry see Industry 5.0 as the SaaS for manufacturing, Subramanian says that while it may look like that but it is not. The next wave of companies in this space will be more enterprise-led and solutions will be co-created with large companies. Large enterprises in manufacturing spaces outside India have been slower to move as they are dealing with legacy systems. There is an opportunity in India here and now, which can later be taken outside India as well over time”, Subramanian adds. Accel has categorised the opportunity into three baskets – people, processes and machines – and any opportunity that interjects one of these or a combination of these is 5.0 for Accel. One of its portfolio companies is a good example of what startups can do in the space without actually setting up factories. Detect Technologies partners with the companies to reduce safety violations on a consistent basis. In the past, there would be cameras and people would monitor it manually, but this process can be machine-led and companies are willing to pay for it. Going forward, Accel is of the view that real businesses that make money will come from these verticals. Accel has five focused verticals – consumer, B2B, SaaS, fintech and digital health. Largely, everything the VC firm has done fits into these categories. It’s philosophy too has not changed, which is to catch startups young and to stay with them for the next ten years or so. Accel’s past record shows that it has managed to identify the right themes ahead of others. Its Fund II was largely focused on horizontal marketplaces, while Fund III (2012) was about SaaS companies. Its Fund IV took bets on consumer services startups like Swiggy and Urban Company, while Find V was B2B marketplaces. Now Fund VI is doubling down on B2B marketplaces and horizontal SaaS opportunities. “At the simplest level, we work on global themes and then we double down on it if we see India is ahead of that trend,” adds Subramanian.

The next Flipkart or Swiggy will come from AI or Industry 5.0, says Accel’s Barath Subramanian

New Delhi, Nov 19 () Customer engagement and rewards platform EasyRewardz on Tuesday said it has raised an undisclosed sum in series B funding from Walmart-owned Flipkart.
 The fund infusion will help EasyRewardz to drive new product development and accelerate global expansion, a statement said.
 EasyRewardz has more than doubled its customers and revenues since its series A funding round in November 2017, which was led by Trans-Continental Venture Fund (TCVF), it added.
 Other investors in the company include Venture Catalysts along with angel investors like Jitendra Gupta, Amrish Rau, Satyen Kothari, Ashneer Grover, Subrat Pani and others.
 "We see CRM Software adoption fastest amongst SMBs (small and medium business) in retail as customer centricity continues to hold centre ground in retailing," EasyRewardz co-founder and CEO Soumya Chatterjee said.
 CRM Software has a market size of USD 48 billion, and is seeing a 16 per cent year-on-year increase globally, with Asia Pacific growing faster at over 20 per cent,
 "We have firmly established our position in India, and have a toe-hold in MENA. We will now accelerate our global expansion to meet the growing demand of Customer Experience Management platforms," EasyRewardz co-founder and sales director Tejas Kadakia said.
 Founded in 2011 by Soumya Chatterjee, Tejas Kadakia, Angad Singh and Sapan Kadakia, EasyRewardz is a customer engagement SaaS solution company, and operates in India, South East Asia and Middle East, among others. The company currently has an annualised revenue of Rs 25 crore.
 "Flipkart continues to make investments in the Indian ecosystem in order to deliver value to our customers. Our investment in EasyRewardz is part of our ongoing initiatives to give superior customer experience," Flipkart said in response to queries on the investment. SR RVK

Flipkart invests in EasyRewardz

Walmart-owned Flipkart will undertake a buyback employee <keyword id="6368159" type="UNKNOWN" weightage="20" keywordseo="stock">stock</keyword> options worth about Rs 600 crore, according to sources. Earlier in the day, Flipkart announced raising $3.6 billion (about Rs 26,805.6 crore) in funding from a clutch of investors that valued the e-commerce major at $37.6 billion (about Rs 2.79 lakh crore). In an e-mail to employees, Flipkart group chief executive officer <keyword id="6379357" type="PERSON" weightage="20" keywordseo="kalyan-krishnamurthy">Kalyan Krishnamurthy</keyword> lauded the critical role played by the staff in reaching this milestone. "It has always been our endeavour to provide our employees with an opportunity to liquidate their vested options regularly. This year, we are pleased to announce a buyback of 5 per cent of the past three years' vested options. With this landmark event for us, I am happy to share that we are offering our employees an additional buyback of 5 per cent of all vested options as we stay committed to wealth creation for you," he said. While the e-mail did not provide additional details, sources said the employee stock options buyback would entail a spending of about Rs 600 crore, and employees will be able to liquidate up to 10 per cent of their vested shares depending on the individual's holding pattern. They added that about 6,000 people are expected to benefit from the buyback. The company confirmed the development but did not disclose any details. Employees are granted options based on their tenure, performance, and contributions to the company. In his e-mail, Krishnamurthy said the fund infusion received by Flipkart is "one of the most significant investments in the digital commerce ecosystem in India, reflecting the opportunity for digital commerce in India and the confidence of investors in our ability to address this potential". "As we continue to focus on meeting the needs of our customers, we will make several investments across people, technology, supply chain, and infrastructure, and continue to strengthen and build on key categories and business opportunities," he added. Krishnamurthy emphasised that the company must sustain its commitment to its existing customers and introduce the value proposition of digital commerce to the next 200 million Indians, ensuring that it innovates to create value and experiences for them. "Through our partnerships with ecosystem players, not only do we need to accelerate growth for them, but we must also direct our efforts to enable inclusive growth for lakhs small and medium businesses who have an opportunity to benefit from the potential of digital commerce in India," he added. Flipkart Group has raised $3.6 billion in funding led by Singapore's sovereign wealth fund GIC, Canada Pension Plan Investment Board (CPP Investments), <keyword id="9240440" type="UNKNOWN" weightage="20" keywordseo="softbank-vision-fund-2">SoftBank Vision Fund 2</keyword> and Walmart, valuing the e-commerce giant at $37.6 billion. The current funding round has also seen participation from sovereign funds DisruptAD, <keyword id="6437412" type="UNKNOWN" weightage="20" keywordseo="Qatar-Investment-Authority">Qatar Investment Authority</keyword>, Khazanah Nasional Berhad as well as marquee investors Tencent, <keyword id="11620199" type="UNKNOWN" weightage="20" keywordseo="willoughby-capital">Willoughby Capital</keyword>, Antara Capital, Franklin Templeton, and Tiger Global. With this deal, <keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">SoftBank</keyword> is re-entering Flipkart's cap table. SoftBank had sold its approximately 20 per cent share when Walmart bought a 77 per cent stake in Flipkart for $16 billion in 2018. Founded in 2007, the Flipkart Group includes Flipkart, fashion specialty site Myntra, and Ekart (logistics and supply chain arm). The Group is also a majority shareholder in the digital payments platform PhonePe. SEE ALSO - <a href="https://www.businessinsider.in/tech/news/google-calendars-new-rsvp-option-will-let-you-specify-how-you-want-to-attend-a-meeting/articleshow/84237490.cms">Google Calendar’s new RSVP option will let you specify how you want to attend a meeting</a> <a href="https://www.businessinsider.in/business/corporates/news/tcs-hires-over-20000-in-june-quarter-its-highest-ever-quarterly-addition/articleshow/84240423.cms">TCS has loaded up half a million peeps as it expects many to move on</a>

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