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<ul><li>HDFC, India’s leading life insurance company has invested in ‘Z3Partners Tech Fund ’ – a tech and digital investment focused Venture Capital (VC) fund.</li><li>Z3Partners wants to build a portfolio of 8-10 companies</li><li>Z3Partners is raising ₹500 crore for the Z3 Partners Tech Fund.</li><li>The fund invests ₹35 crore –₹80 crore at the early growth stage of a digital start-up.</li></ul> HDFC Life, one of India’s leading life insurance companies, has invested in Z3Partners’ new fund named ‘Z3Partners Tech Fund’, a tech and digital investment focused Venture Capital (VC) fund. The fund will invest in and nurture tech and digital entrepreneurs in India. Z3 Partners, which is currently raising this fund of ₹500 crore, has already backed start-ups like Cyfirma, Gramophone, Shipsy, and <keyword id="14425266" type="General" weightage="20" keywordseo="true-fan" source="Orion">True-Fan</keyword>. Z3Partners was founded by Gautam Patel, whose prior investments include <keyword id="14425267" type="General" weightage="20" keywordseo="bigbasket-medgenome-ofbusiness" source="Orion">BigBasket, MedGenome, OFBusiness</keyword> and <keyword id="864887" type="General" weightage="20" keywordseo="pepperfry" source="Orion">Pepperfry</keyword>. Z3Partners invests in market-leading tech and digital start-ups. The fund announced its second close of ₹250 crore last year and is on track for the final close this year. “We are excited to have HDFC Life onboard for this journey to invest in the best tech and digital companies that are backed by world-class entrepreneurs. We believe this endeavor will translate into providing support and leadership to the Indian start-up ecosystem,” Patel said. Z3Partners has invested in the unicorn DealShare and is looking to create a portfolio of 8-10 companies in fintech. The tech fund invests ₹35 crore - ₹80 crore in the early stages of the shortlisted companies. SEE MORE: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/unacademy-shuts-down-global-test-prep-business-ceo-opts-for-a-pay-cut/articleshow/92806222.cms">Even with ₹2,800 crore in bank, we are not efficient at all: Unacademy’s Gaurav Munjal</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/indian-policy-makers-are-not-happy-that-8-out-of-10-upi-transactions-are-being-done-through-phonepe-and-google-pay/articleshow/92804434.cms">Indian policy makers are not happy that 8 out of 10 UPI transactions are being done through PhonePe and Google Pay</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/tcs-tumbles-and-drags-down-to-wipro-infosys-tech-mahindra-and-ltts-with-poor-earnings/articleshow/92795039.cms">TCS tumbles and drags down to Wipro, Infosys, Tech Mahindra and LTTS with poor earnings</a>

HDFC Life invests in tech fund to support digital entrepreneurs in India

<ul><li>Tiger Global has invested in three B2B ecommerce platforms <keyword id="8032183" type="General" weightage="20" keywordseo="infra-market" source="Orion">Infra.Market</keyword>, <keyword id="3119222" type="General" weightage="20" keywordseo="moglix" source="Orion">Moglix</keyword> and <keyword id="3259676" type="General" weightage="20" keywordseo="Ofbusiness" source="Orion">OfBusiness</keyword> this year.</li><li>The three players compete with each other in this sub segment of B2B, but the intricacies of their businesses are quite different.</li><li>OfBusiness is a tech-enabled platform that enables small and medium enterprises (SMEs) with procurement of raw materials and credits.</li></ul>OfBusiness, which allows businesses to purchase bulk orders from sellers online, has doubled its valuation to $3 billion in a $207 million fresh funding round led by Tiger Global. The company was valued at $1.5 billion in July, when it raised $160 million from SoftBank, Falcon Edge and Matrix Partners. Softbank, along with Falcon Edge-managed Alpha Wave Incubation, also participated in the latest round with an infusion of $43 million. New York-based Tiger Global — which is also an investor in other business-to-business (B2B) marketplaces Infra.Market and Moglix — has infused $150 million in the New Delhi-based startup. It is likely to infuse another $15-20 million in the coming round. This is the third major funding round closed by OfBusiness this year. In April this year, the company <a href="https://www.businessinsider.in/business/startups/news/sme-financing-platform-ofbusiness-raises-110-million-from-falcon-edge-capital-valuation-hits-800-million/articleshow/81962626.cms">had raised $110 million</a> led by Falcon Edge Capital at a valuation of $800 million. Interestingly, this is also the third unicorn investment made by Tiger Global in the B2B ecommerce space. Infra.Market, Moglix and OfBusiness are competitors in this sub segment of B2B, but the intricacies of their businesses are quite different. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Focus area </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Valuation </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infra.Market </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Construction material </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$2.5 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">OfBusiness </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Manufacturing and infrastructure development material </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$3 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Moglix </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Industrial and home products </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$1.33 billion </td></tr></tbody><tbody></tbody></table> The nearly $3 billion worth <keyword id="6357316" type="General" weightage="20" keywordseo="udaan" source="Orion">Udaan</keyword>, too, is a <a href="https://www.businessinsider.in/business/startups/news/udaan-fires-half-its-contract-employees/articleshow/75357229.cms">prominent player </a>in the B2B ecommerce space. It helps small businesses to procure products — across categories like electronics, home and kitchen, staples, fruit and vegetables, and more — at lower prices. <keyword id="7466761" type="General" weightage="20" keywordseo="zetwerk" source="Orion">Zetwerk</keyword> — valued at $1.33 billion — entered the unicorn club this year, when it raised $150 million in a round led by D1 Capital. It focuses on online sale of manufacturing material. What is OfBusiness up to? Founded by Asish Mohapatra, Bhuvan Gupta, Vasant Sridhar, Ruchi Kalra and Nitin Jain in 2015, the New Delhi-based startup is a tech-enabled platform that enables small and medium enterprises (SMEs) with procurement of raw materials and credits. It has a separate entity, NBFC Oxyzo Financial Services, to offer financing solutions to SMEs. This entity has a loan book of $240 million, with 5,000 borrowers to the list. The company claims to be at an annual revenue run-rate of $1.4 billion. It further plans to increase this with expansion of its operations and acquisition of other businesses, Mohapatra <a href="https://economictimes.indiatimes.com/tech/funding/ofbusiness-valuation-doubles-to-3-billion-after-tiger-global-led-funding/articleshow/86645251.cms">told</a> The Economic Times. It claims to be underway to close several such acquisitions. The company competes with platforms like Moglix, Infra.Market, Zetwerks and others on the B2B ecommerce business fronts. In SME lending, it is competing with other platforms like BharatPe, LendingKart, Aye Finance and many others. OfBusiness, along with its B2B ecommerce rivals mentioned above, are among the 28 startups that entered the unicorn club this year, with a valuation of over $1 billion. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/paras-defence-maruti-suzuki-airtel-vodafone-idea-and-other-top-stocks-to-watch-out-for-on-october-1/slidelist/86670108.cms" data-type="tilCustomLink">Paras Defence, Maruti Suzuki, Airtel, Vodafone Idea and other top stocks to watch out for on October 1</a> <a href="https://www.businessinsider.in/stock-market/news/paras-defence-space-tech-ipo-continues-to-demand-a-premium-of-200-in-grey-market/articleshow/86663834.cms" data-type="tilCustomLink">Paras Defence &amp; Space Tech IPO continues to demand a premium of ₹200 in grey market</a> <a href="https://www.businessinsider.in/business/startups/news/ola-electric-raises-200-million-from-softbank-falcon-edge-at-valuation-of-3-billion/articleshow/86649236.cms">4-year old Ola Electric is now worth over a half of its older sibling Ola</a>

Tiger Global is now an investor in three of the five B2B ecommerce unicorns in India

<ul><li>Its existing investors <keyword id="136057" type="COMPANY" weightage="20" keywordseo="Matrix-Partners">Matrix Partners</keyword> India and <keyword id="4675626" type="PERSON" weightage="20" keywordseo="Falcon-Edge-Capital">Falcon Edge Capital</keyword> also invested in this round of <keyword id="6357455" type="UNKNOWN" weightage="20" keywordseo="Funding">funding</keyword>.</li><li>Earlier this year, <keyword id="3259676" type="PERSON" weightage="20" keywordseo="OfBusiness">OfBusiness</keyword> had raised $110 million led by Falcon Edge Capital.</li><li>The B2B startup also gives credit of up to ₹2 crore to SMEs to fund their working capital needs.</li></ul>There seems to be no end to the <keyword id="152045" type="ORGANIZATION" weightage="20" keywordseo="Unicorn">unicorn</keyword> frenzy in India. OfBusiness -- a platform, which helps the country’s small and medium businesses (SMEs) in getting raw materials -- has raised $160 million in funding led by Japanese investor <keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">SoftBank</keyword>. As per the company’s press note, OfBusiness was valued at more than $1.5 billion. A unicorn, in startup lingo, is a private firm valued at or more than a billion dollars. Apart from helping SMEs to source raw materials, the business-to-business (B2B) startup also gives credit of up to ₹2 crore to these small and medium scale entrepreneurs. This is done through its non-banking financial company (NBFC) platform Oxyzo Financial Services. Other than SoftBank, its existing investors Matrix Partners India and Falcon Edge Capital also put in money in this round of funding, as per the press statement. Asish Mohapatra, chief executive and cofounder of the startup said OfBusiness will gain from SoftBank’s “muscle across capital and international markets.” In April this year, OfBusiness <a href="https://www.businessinsider.in/business/startups/news/sme-financing-platform-ofbusiness-raises-110-million-from-falcon-edge-capital-valuation-hits-800-million/articleshow/81962626.cms">had raised $110 million</a> led by Falcon Edge Capital. Sumer Juneja, a partner at Softbank Investment Advisors, said in the statement that they were impressed by OfBusiness’ “market leadership, growth and focus on profitability.” OfBusiness, which was founded in 2015, was also ranked 17 in Financial Times’ top 500 high growth companies in the Asia Pacific region in April last year. In an interview, in April 2021, with The Economic Times, Mohapatra had said that the company is preparing for an <a href="https://economictimes.indiatimes.com/tech/funding/ofbusiness-operator-ofb-tech-raises-110-mn-at-800-mn-valuation/articleshow/81960852.cms">initial public offering</a> (IPO) in the next two years. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/windlas-biotech-to-raise-395-402-crore-through-public-listing-price-band-fixed-at-448-460/articleshow/84854594.cms">Windlas Biotech to raise ₹395-402 crore through public listing, price band fixed at ₹448-460</a> <a href="https://www.businessinsider.in/tech/mobile/news/googles-sundar-pichai-has-teased-the-whitechapel-chipset/articleshow/84853916.cms">Google teases Whitechapel chipset that may power Google Pixel 6 devices</a>

OfBusiness, a platform that helps SMEs get raw materials, becomes the newest unicorn from India

<ul><li><keyword id="74945" type="General" weightage="20" keywordseo="women-entrepreneurs" source="Orion">Women entrepreneurs</keyword> are not far behind in founding the most valuable businesses of this millennium. </li><li>Ghazal Alagh of Mamaearth, and Saumya Singh Rathore of Winzo, aged 35, each is the youngest woman in the list. </li><li>Ruchi Deepak, co-founder of Acko, and Amrita Sirohia, co-founder, Amrita Sirohia, co-founder, INDmoney, at 41, are the eldest women in the list </li></ul>When it comes to founding valuable new businesses, women <keyword id="53533" type="General" weightage="20" keywordseo="entrepreneurs" source="Orion">entrepreneurs</keyword> are giving men a run for their money. We take a look at top ten <keyword id="19669428" type="General" weightage="20" keywordseo="youngest-women-entrepreneurs" source="Orion">youngest women entrepreneurs</keyword> in India according to the first edition of ‘India's Top 200 Self-made Entrepreneurs of the Millennia 2023’ launched by I<a href="https://www.idfcfirstbank.com/personal-banking/wealth/First-Private#home">DFC FIRST Private</a> Banking and <a href="https://hurunindia.com/">Hurun India</a>. Ghazal Alagh, 35, Gurugram Ghazal Alagh is a self-made woman entrepreneur and the co-founder of Mamaearth, one of India's leading brands of natural and toxin-free skincare and baby care products. Alagh's journey started with a personal need – she was struggling to find safe and effective skincare products for her son. This inspired her to create her own brand, Mamaearth, which has since become a household name in India and recently went public. Saumya Singh Rathore, 35, New Delhi Saumya Singh Rathore, co-founder of WinZO, has contributed to building India's leading social gaming platform in local languages, boasting a user base exceeding 100 million. Since its inception in 2018, WinZO has secured funding surpassing $100 million, supported by key investors like Griffin Gaming Partners, Makers Fund, Courtside Ventures, and Steve Pagliuca. Rajoshi Ghosh, 36, Bengaluru Rajoshi Ghosh, a serial entrepreneur, serves as the COO and co-founder of Hasura, a software technology company based in San Francisco. Beyond her role at Hasura, she has initiated five other startups. She holds the title of a World Economic Forum Global Shaper and commenced her professional journey as a published bioinformatics researcher specialising in genomics at the Genome Institute of Singapore. Dr. Garima Sawhney, 37, Gurugram Dr. Garima Sawhney, a co-founder at Pristyn Care, is a leading figure in India's healthcare. Renowned for her expertise in gynaecology, she embarked on her career as a doctor, honing crucial life skills during her tenure at a government hospital. Her leadership, born from compassionate patient care, has steered Pristyn Care to a valuation of $1.4 billion. Kanika Gupta, 39, Gurugram Kanika Gupta Shori holds the position of co-founder and COO at Square Yards, an integrated real estate marketplace. With an educational background from Wharton Business School, she brings more than 11 years of experience in both banking and entrepreneurial pursuits. Beyond her professional roles, Kanika actively contributes to initiatives centred around empowering women and supporting children's welfare. Vineeta Singh, 40, Mumbai Vineeta Singh is an Indian entrepreneur and investor who is the co-founder and CEO of SUGAR Cosmetics, a popular Indian beauty brand. Singh is also a judge on the Indian reality television show Shark Tank India. Singh is known for her tough questioning and her willingness to invest in businesses that she believes have the potential to succeed. Ruchi Kalra, 40, Gurumgram Ruchi Kalra, an entrepreneur from Gurgaon, has co-founded two unicorn startups – OfBusiness and Oxyzo with her husband, Ashish Mohapatra. Ruchi's successful business approach centres on extracting profit from each transaction, a strategy that has proven effective. She and her husband are the first couple who has founded two unicorns. Mabel Chako, 40, Bengaluru Mabel Chako, co-founder and chief operating officer at Open, boasts a 13-year entrepreneurial journey in financial technology. Her expertise spans intricate financial landscapes, honed through roles at Citrus Payment Solutions and PayU. Her founding of CashNxt in 2007 and Zwitch in 2013 (later acquired by Citrus Payments) underscores her entrepreneurial acumen and commitment to innovative solutions. Ruchi Deepak, 41, Mumbai Ruchi Deepak, co-founder of Acko, hails from Jamshedpur and pursued her bachelor's degree at Lady Shri Ram College, followed by Law at Delhi University. Ruchi aimed for meaningful innovation in financial services. Witnessing the industry's focus on selling to distributors rather than customers directly, she envisioned a shift. Co-founding Acko with Varun Dua, they leveraged technology to revolutionise insurance experiences. Amrita Sirohia, 41, Gurugram Amrita Sirohia, co-founder of INDmoney, embarked on her journey in the financial sector driven by a passion for technology and finance. Amrita's professional trajectory includes roles at renowned companies like Google and Barclays, which led to her understanding of financial complexities and technological innovation. Co-founding INDmoney, her aim was to democratise wealth management through tech-enabled financial solutions, empowering individuals to navigate and optimise their financial portfolios efficiently.

She power: The top 10 youngest women entrepreneurs in India

<ul><li><keyword id="51166" type="General" weightage="20" keywordseo="zee-entertainment" source="Orion">Zee Entertainment</keyword> saw its stock price fell 3% in today's trade on a letter from <keyword id="365425" type="General" weightage="20" keywordseo="invesco" source="Orion">Invesco</keyword> demanding an extraordinary general meeting (EGM) before finalising its merger with Sony’s India unit.</li><li>Earlier this month, Invesco and Oppenheimer Funds had also asked for the removal of <keyword id="599253" type="General" weightage="20" keywordseo="punit-goenka" source="Orion">Punit Goenka</keyword>, the chief executive and managing director of Zee Entertainment, from the company’s board.</li><li>Invesco and OFI Global China Fund LLC, which together hold about 17.9% stake in the network, said the deal was struck in “erratic manner,” Bloomberg reported.</li></ul>Zee Entertainment Enterprises Ltd. saw its shares fall 3% to ₹309 apiece on Monday morning as its largest shareholder, US-based Invesco Fund, has reportedly insisted that the board hold its extraordinary general meeting (EGM) before finalising its merger with Sony’s India unit. The development, reported by <a href="https://www.bloomberg.com/news/articles/2021-09-26/invesco-renews-demand-for-zee-entertainment-board-reshuffle">Bloomberg</a> on Monday, said that Invesco and Oppenheimer Funds, in a September 23 letter, renewed their demand to convene an EGM to replace the board at Zee. A similar demand was made by Invesco on September 11. “A newly constituted board supported with the strength of independence will be best suited to evaluate and oversee the potential for strategic transactions,” according to the Sept. 23 letter from Aroon Balani, vice president of Invesco, as cited by Bloomberg. Earlier this month, the funds had also asked for the removal of Punit Goenka, the chief executive and managing director of Zee Entertainment, from the company’s board, citing issues with corporate governance at the firm. The letter also demanded removal of independent directors, Ashok Kurien and Manish Chokhani, who later resigned from the board. Despite Invesco’s letter, Zee went ahead and announced the company’s merger with Sony Pictures Networks India on September 22. Based on disclosures filed with exchanges, Sony will hold a majority stake of 52.93% in the merged entity and infuse growth capital of about $1.6 billion once the deal closes. Zee shareholders, post the deal, will hold the balance 47.07% in the merged entity. Since the deal announcement on September 22, the stock has fallen as much as 8% to ₹309 on Monday. <div type="image" title="zee ent." msid="86547179" hostid="261"></div> As part of the transaction, Goenka will continue to be the managing Director and chief executive of the company, it said. Invesco and OFI Global China Fund LLC, which together hold about 17.9% stake in the network, said the deal was struck in “erratic manner,” Bloomberg reported. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/ofbusiness-was-the-only-woman-led-startup-that-entered-the-unicorn-club-this-year/articleshow/86511076.cms">OfBusiness was the only woman led startup that entered the unicorn club this year</a> <a href="https://www.businessinsider.in/business/auto/news/teslas-full-self-driving-beta-programme-request-button-goes-live/articleshow/86525543.cms">Tesla's 'Full Self Driving' Beta programme request button goes live</a> <a href="https://www.businessinsider.in/business/auto/news/teslas-full-self-driving-beta-programme-request-button-goes-live/articleshow/86525543.cms">Those who have held these stocks for a decade have only lost money</a>

Zee Entertainment shares fall 3% in today’s trade as Invesco insists the board to hold EGM before Sony deal

<ul><li><keyword id="12042233" type="General" weightage="20" keywordseo="gokwik" source="Orion">GoKwik</keyword> offers tools and solutions to direct-to-consumer (<keyword id="4055555" type="General" weightage="20" keywordseo="D2C" source="Orion">D2C</keyword>) that offer better experience to users.</li><li>Matrix Partners India led the company’s pre-Series A round, with participation from RTP Global.</li><li>In its first year of operations, the company has set plans for international expansion.</li></ul>The Indian <keyword id="436047" type="General" weightage="20" keywordseo="ecommerce" source="Orion">ecommerce</keyword> industry was growing exponentially last year as customers and several brands were embarking on the digital journey amidst the pandemic. But the show was largely run by giants like Amazon and Flipkart. That’s when <keyword id="4075194" type="General" weightage="20" keywordseo="Chirag-Taneja" source="Orion">Chirag Taneja</keyword> came up with the solution to help Indian brands to set up their own identity in the world of digital retail. GoKwik, launched in January 2021, offers tools and solutions to direct-to-consumer (D2C) brands — that sell directly to customers through their own website — to offer better experience to users. “If you look at D2C websites and compare it to the giants, you’ll realise that many things are broken. If e-commerce has to boom then someone will need to fix these experiences. That is what we do as a company,” Chirag Taneja, chief executive (CEO) and co-founder of GoKwik, told Business Insider. Fundraise to international expansion — all planned out GoKwik on Tuesday, September 7, announced a $5.5 million fundraise in order to expand its presence further. The pre-Series A round was led by Matrix Partners India, with participation of global investors like RTP Global. Several marquee angel investors and serial entrepreneurs also participated in the round. This includes Jupiter’s Jitendra Gupta, Uni’s Nitin Gupta, AngelList India’s Utsav Somani, CarDekho’s Umang Kumar, Shaadi.com’s Anupam Mittal, Livspace’s Ramakant Sharma, OfBusiness’ Asish Mohapatra and more. Over 12 angels invested in the pre-Series A round. GoKwik plans to use this funding to double its current workforce of 75 employees by 2022 and expand to other Southeast Asian countries that face the same ecommerce related challenges as India. The company has zeroed down on Indonesia, Vietnam and Malaysia for now. The Gurugram-based company notes that they will have an early mover advantage if they start international expansion now. For its international play, the company will focus on building local and central teams in the specific region and partner with local players. The technology and the product would largely remain the same for these markets, where cash-on-delivery would be a more common mode of payment. The Gurgaon-based startup helps retailers overcome challenges of setting up online stores and provide better experience to their customers. The company claims to have processed over a million transactions since its launch. Helping boAt, MamaEarth, LimeRoad and more The e-commerce enabler has also added 75 customers to its bucket list, ranging from marketplaces to publicly listed companies and renowned D2C brands. This includes boAt, Mamaearth, The Man Company, Heads Up For Tails, LimeRoad, ManMatters, The Whole Truth, The Souled Store, and TCNS Clothing Co, which owns brands like W, Aurelia and Wishful. Taneja noted that there are four legs of e-commerce — discovery, search/selection, conversion, retention. GoKwik is solving all these problems with its solution, as per Taneja. Ecommerce is expanding and one would need to use ecommerce enablers to bring the cost down, he added. The company was founded by Taneja and Vivek Bajpai. Taneja has previously worked as the chief revenue officer of Bombay Shaving Company, assistant vice president at Yes Bank and founded a food tech company Ketchupp in 2015. Bajpai, chief technology officer (CTO) and co-founder of GoKwik, was the head of technology at an adtech company SilverPush. Ankush Talwar, chief data scientist at GoKwik, is also part of the founding team. He previously was associated with Kognoz Research &amp; Consulting, Quantiphi and Publicis. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/logistics-company-delhivery-raises-76-million-ahead-of-its-ipo/articleshow/85997440.cms">Former Tiger Global exec Lee Fixel picks Delhivery as his second bet in India, after Inshorts</a> <a href="https://www.businessinsider.in/tech/news/el-salvador-just-bought-400-bitcoin-and-plans-to-buy-a-lot-more-a-day-before-making-it-an-official-currency/articleshow/85995497.cms">El Salvador just bought 400 bitcoin and plans to buy 'a lot more,' a day before making it an official currency</a> <a href="https://www.businessinsider.in/retail/news/chipotles-digital-sales-hit-a-record-2-billion-so-far-this-year-heres-how-its-loyalty-program-led-the-company-to-success/articleshow/85995495.cms">Chipotle's digital sales hit a record $2 billion so far this year - here's how its loyalty program led the company to success</a>

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HDFC Life invests in tech fund to support digital entrepreneurs in India

Eetika Kapoor

Tiger Global is now an investor in three of the five B2B ecommerce unicorns in India

Kritti Bhalla

OfBusiness, a platform that helps SMEs get raw materials, becomes the newest unicorn from India

Dearton Thomas Hector

She power: The top 10 youngest women entrepreneurs in India

Anagh Pal

Zee Entertainment shares fall 3% in today’s trade as Invesco insists the board to hold EGM before Sony deal

Ridhima Saxena

A former Bombay Shaving Company exec is helping brands like boAt, MamaEarth go big on ecommerce ⁠— and he now wants to take it abroad

Kritti Bhalla

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