<ul><li><keyword id="6358977" type="UNKNOWN" weightage="20" keywordseo="swiggy">Swiggy</keyword> IPO comes days after Zomato closed its $1.3 billion IPO, which was oversubscribed by 38 times.</li><li>The food delivery startup will look at acquisitions to expand its growth and further boost its grocery vertical.</li><li>Both Zomato and Swiggy have raised about $3 billion dollars each, to date, from marquee investors.</li></ul><keyword id="9260137" type="UNKNOWN" weightage="20" keywordseo="food-delivery-app-swiggy">Food delivery app Swiggy</keyword> has raised $1.25 billion in a funding round led by <keyword id="11500008" type="UNKNOWN" weightage="20" keywordseo="SoftBank-Vision-Fund-II">SoftBank Vision Fund II</keyword> and Prosus (formerly known as Naspers). The development comes days after Zomato closed its $1.3 billion initial public offering (IPO), which was oversubscribed by more than <a href="https://www.businessinsider.in/business/news/zomato-ipo-subscription-status/articleshow/84409991.cms">38 times</a>. Swiggy intends to use this funding to double down on its core business, make acquisitions and invest in its grocery delivery business Instamart. Besides this, the company will also focus on Swiggy Genie, a pickup-and-drop service. Interestingly, rival Zomato, too, aims to use the capital raised from its IPO to make acquisitions as well as formally enter the grocery delivery segment. The company has reportedly invested more than $100 million in grocery delivery business <a href="https://www.businessinsider.in/business/startups/news/zomato-reportedly-invests-120-million-in-grofers/articleshow/83951631.cms">Grofers. </a> Swiggy has raised about $3 billion to date from investors like DST Global, Goldman Sachs, <keyword id="6448677" type="UNKNOWN" weightage="20" keywordseo="think-investments">Think Investments</keyword>, Amansa Holdings, Falcon Edge Capital. Meanwhile, Zomato has raised about $2.1 billion to date from marquee investors like <keyword id="260318" type="COMPANY" weightage="20" keywordseo="Tiger-Global-Management">Tiger Global Management</keyword>, ANT Group, Naspers, Glade Brook Capital Partners and others. It will raise an additional $1.3 billion through its public issue. Commenting on the latest fundraise, Swiggy’s chief executive and co-founder Sriharsha Majety said, “The scope of food delivery in India is massive and over the next few years, we will continue to invest aggressively into growing this category. Our biggest investments will be in our non-food businesses that have witnessed tremendous consumer love and growth in a short span, especially in the past 15 months of the pandemic.” A part of this funding will also be utilised to enhance Swiggy’s capabilities in technology and artificial intelligence (AI). It will also strengthen teams across engineering, product, data science and analytics as well as supply chain for its newer initiatives. “I believe the next 10-15 years offer a once-in-a-lifetime opportunity for companies like Swiggy as the Indian middle class expands and our target segment for convenience grows to 500 million users,” Majety added. SEE ALSO <a href="https://www.businessinsider.in/tech/news/youtube-acquires-two-year-old-indian-video-commerce-startup-simsim/articleshow/84576418.cms">YouTube acquires two-year old Indian video commerce startup simsim</a> <a href="https://www.businessinsider.in/business/startups/news/globalbees-has-raised-150-million-in-few-months-of-launch-to-acquire-more-businesses/articleshow/84552291.cms">GlobalBees, a Thrasio-style startup launched by FirstCry and Edelweiss execs, raises $150 million in few months of launch </a> <a href="https://www.businessinsider.in/tech/news/how-to-find-out-if-your-phone-is-infected-by-the-pegasus-spyware/articleshow/84578193.cms">This toolkit will tell you if your phone is infected by the Pegasus spyware</a>

Swiggy gets a $1.25 billion cheque from Softbank for the same reason Zomato went for an IPO

<a href="https://www.businessinsider.com/google-buying-nyc-office-building-wsj-2021-9"></a>Good morning and welcome to <keyword id="11907113" type="UNKNOWN" weightage="60" keywordseo="10-things-in-tech" source="Orion">10 Things in Tech</keyword>. If this was forwarded to you, <a href="http://newsletter.businessinsider.com/join/4np/10-things-in-tech">sign up here</a>. ​​Plus, download Insider's app for news on the go - <a href="https://apps.apple.com/app/apple-store/id554260576?pt=385758&amp;ct=06292021_newsletters&amp;mt=8amp;mt=8">click here for iOS</a> and <a href="https://play.google.com/store/apps/details?id=com.freerange360.mpp.businessinsider&amp;r[%E2%80%A6]ers%26utm_medium%3Demail%26utm_term%3D06292021%26anid%3Dadmobdmob">here for Android</a>.Let's get started.1. Google is buying an NYC office building for $2.1 billion. The purchase signals that Google is doubling down on its return to the office, committing to a future where at least some work takes place in person. <a href="https://www.businessinsider.com/google-buying-nyc-office-building-wsj-2021-9">Get the details on the priciest office-building purchase since the onset of the pandemic.</a>2. Amazon wants everyone to know it's totally cool with smoking pot now. The company is lobbying the government to federally legalize cannabis, shortly after announcing it'll no longer pre-screen employees for cannabis use - <a href="https://www.businessinsider.com/amazons-labor-shortage-solution-relax-cannabis-testing-2021-9">partially because it's running out of workers to hire.</a>3. The early days of Peter Thiel's fellowship were disastrous for attendees. In a new book, Max Chafkin goes behind the scenes of the hastily thrown-together fellowship, which left some participants with depression, mental health issues, and drug abuse problems. <a href="https://www.businessinsider.com/peter-thiel-fellowship-inside-disastrous-early-days-contrarian-max-chafkin-2021-9">What we learned from "The Contrarian: Peter Thiel and Silicon Valley's Pursuit of Power."</a>4. Apple wants to know if iPhones can help detect depression. Per the WSJ, scientists are examining sleep and typing data to see if it corresponds with early signs of mental health issues, so Apple could then warn people if they are at risk. <a href="https://www.businessinsider.com/apple-studying-if-iphone-data-can-help-detect-depression-wsj-2021-9">Everything we know so far.</a>5. Elon Musk said the next SpaceX civilian mission would have a better toilet. Musk tweeted there had been "challenges" with the toilet - but didn't elaborate any more. From an oven to Starlink wifi, <a href="https://www.businessinsider.com/elon-musk-says-next-spacex-flight-will-have-better-toilets-2021-9">here's what else civilians can expect on the next flight.</a>6. Big moves in Big <keyword id="6358815" type="UNKNOWN" weightage="60" keywordseo="tech" source="Orion">Tech</keyword>: Industrywide, tech companies are seeing major executive shakeups. Thrasio's co-CEO <a href="https://www.businessinsider.com/thrasio-co-ceo-josh-silberstein-resigns-amazon-aggregator-carlos-cashman-2021-9">resigned this week</a>, the general manager of Cisco's $3.3 billion security business <a href="https://www.businessinsider.com/cisco-security-leadership-shakeup-gee-rittenhouse-shaila-shankar-2021-9">is leaving</a>, and Waze's chief marketing officer <a href="https://www.businessinsider.com/waze-cmo-erin-clift-has-quietly-left-the-company-2021-9">left the Google-owned navigation app.</a>7. This startup's $18,000 electric car only has one seat. EV startup ElectraMeccanica expects to deliver its single-passenger car, called the "Solo," by the end of the year. <a href="https://www.businessinsider.com/electrameccanica-solo-ev-electric-vehicle-with-only-one-seat-2021-9">Its CEO told us why he thinks buyers will eat it up.</a>8. The Apple Watch Series 7 is coming later this fall. The updated watch will join the Apple Watch SE and Series 3 with prices starting at $399. We explain the key differences, <a href="https://www.businessinsider.com/apple-watch-models-compared">and give recommendations on which one to buy.</a>9. AWS is combining its edge and hybrid cloud computing teams. A leaked memo showed Amazon Web Services is combining its edge and hybrid cloud products, like Outposts, under a new organization. It also hired a new VP to run it - a move that usually indicates something Amazon sees <a href="https://www.businessinsider.com/amazon-web-services-internal-memo-edge-computing-2021-9">as a potential billion-dollar business. </a>10. Verily is looking to separate itself from Google. Verily, Alphabet's life sciences unit, has launched a secret project to untangle itself from Google's technology and become more independent. <a href="https://www.businessinsider.com/verily-secret-internal-project-flywheel-untangle-technology-alphabet-google-2021-9">How Verily is preparing for a future outside its parent company.</a>Compiled by Jordan Erb. Tips/comments? Email <a href="mailto:jerb@insider.com">jerb@insider.com</a> or tweet <a href="https://twitter.com/jordanparkererb">@JordanParkerErb</a>.Sign up for <a href="https://newsletter.businessinsider.com/join/free">more Insider newsletters here.</a>

10 things in tech you need to know today

<ul><li><keyword id="366603" type="COMPANY" weightage="20" keywordseo="Matrix-Partners-India">Matrix Partners India</keyword>, Ankur Capital, Better Capital and <keyword id="8830555" type="UNKNOWN" weightage="20" keywordseo="titan-capital">Titan Capital</keyword> also participated in the round.</li><li><keyword id="9611309" type="UNKNOWN" weightage="20" keywordseo="VeGrow">Vegrow</keyword> provides a technology platform to farmers, which can be used to get high quality farm inputs and best farming practices.</li><li>The <keyword id="3210932" type="PERSON" weightage="20" keywordseo="B2B-startup">B2B startup</keyword> is looking to expand to 100 cities, invest in technology and launch new products.</li></ul>Business-to-business (B2B) agritech startup for sourcing fruits and vegetables, Vegrow, has raised $13 million in a Series A round co-led by <keyword id="455799" type="COMPANY" weightage="20" keywordseo="Lightspeed-Venture-Partners">Lightspeed Venture Partners</keyword> and Elevation Capital. Existing investors Matrix Partners India, Ankur Capital, Better Capital and Titan Capital also participated in the round. The company had raised $2.5 million in a seed round in June 2020. Vegrow was founded in April 2020 by Indian Institute of Technology (IIT) alumni Praneeth Kumar, Shobhit Jain, Mrudhukar Batchu and Kiran <keyword id="50744" type="PERSON" weightage="20" keywordseo="Naik">Naik</keyword>, who have varying experience in the agri sector. Kumar and Jain started their career at fast moving consumer goods (FMCG) giant ITC’s agribusiness division, whereas Batchu and Naik were directly involved in farming. The company works with small-hold farmers on a profit sharing model and offers assistance across various stages of the farming cycle using technology. Vegrow provides a technology platform to farmers, which can be used to get high quality farm inputs and best farming practices. The platform also enables farmers to sell their harvest to the right buyers for the right price. The B2B startup claims to help farmers in getting higher returns, reducing supply-chain wastage and improving procurement for wholesalers. The company’s founders have emphasised that the new funding will help Vegrow to expand to 100 new cities, invest in technology and launch new products. The company claims to be one of the largest companies for pomegranates in the country in less than a year. Meanwhile, Lightspeed’s partner Vaibhav Agrawal said that companies building a tech-enabled marketplace between farmers and buyers could help eliminate inefficiencies and would have large market opportunities eventually. “Additionally, many marketplaces have scaled up on negative unit margins in this category, so we were really impressed by the growth and positive unit margin Vegrow has demonstrated using its technology-oriented approach to standardise quality, minimise inventory and retain farmers,” Agrawal added. Apart from Vegrow, other companies in India’s agritech space include Ninjakart, AgNext, Samunnati, Dehaat, Farmart, and WayCool. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/swiggy-raises-1-25-billion-in-a-mega-round-of-funding-led-by-softbank-and-prosus/articleshow/84578974.cms" data-type="tilCustomLink">Swiggy gets a $1.25 billion cheque from Softbank for the same reason Zomato went for an IPO</a> <a href="https://www.businessinsider.in/business/startups/news/globalbees-has-raised-150-million-in-few-months-of-launch-to-acquire-more-businesses/articleshow/84552291.cms">GlobalBees, a Thrasio-style startup launched by FirstCry and Edelweiss execs, raises $150 million in few months of launch</a> <a href="https://www.businessinsider.in/tech/news/how-to-find-out-if-your-phone-is-infected-by-the-pegasus-spyware/articleshow/84578193.cms">This toolkit will tell you if your phone is infected by the Pegasus spyware</a>

Agritech startup Vegrow raises $13 million Lightspeed, Elevation

Hi, I'm Matt Turner, the editor in chief of business at Insider. Welcome back to <keyword id="11921772" type="UNKNOWN" weightage="60" keywordseo="insider-weekly" source="Orion">Insider Weekly</keyword>, a roundup of some of our top stories. <h3>On the agenda today:</h3><ul><li>It's not just a phase — the "Great Resignation" <a href="https://www.businessinsider.com/great-resignation-forever-turnover-job-quitting-remote-work-2022-5">may never end</a>.</li><li>Insiders say Google Cloud is becoming a stodgy "SAP 2.0" <a href="https://www.businessinsider.com/google-cloud-ceo-thomas-kurian-strategy-alienates-staff-vps-2022-5">under Thomas Kurian</a>. </li><li>Growth hedge funds had a <a href="https://www.businessinsider.com/growth-hedge-funds-horrible-april-performance-d1-tiger-global-melvin-2022-5">disastrous April</a>.</li><li>Y Combinator's head of admissions shares how to <a href="https://www.businessinsider.com/what-y-combinator-admissions-stephanie-simon-looks-for-successful-startup-applications">nail an application</a> for the accelerator.</li></ul>Before we get to this week's stories: It's been a big week for Insider. We won our first Pulitzer Prize, for a powerful illustrated report <a href="https://www.insider.com/comic-i-escaped-a-chinese-internment-camp-uyghur-2021-12">"How I escaped a Chinese internment camp."</a> Walt Hickey, a senior data editor at Insider, gives us an inside look at the award-winning work.<a href="https://www.businessinsider.com/subscription">Subscribe to Insider</a> for access to all our investigations and features. New to the <keyword id="11894123" type="UNKNOWN" weightage="60" keywordseo="newsletter" source="Orion">newsletter</keyword>? <a href="https://www.businessinsider.com/subscription/newsletter/insider-weekly">Sign up here.</a> Download our app for news on the go — <a href="https://apps.apple.com/app/apple-store/id554260576?mt=8">click here for iOS</a> and <a href="https://play.google.com/store/apps/details?id=com.freerange360.mpp.businessinsider">here for Android</a>.<h3><a href="https://www.insider.com/comic-i-escaped-a-chinese-internment-camp-uyghur-2021-12">Behind the scenes of Insider's Pulitzer Prize</a></h3><a href="https://www.insider.com/comic-i-escaped-a-chinese-internment-camp-uyghur-2021-12"></a>I'm Walt, the editor on this project. This has been years in the making, as the team and I have tried to use comics to report stories for a number of years, including the matters that led to <a href="https://www.insider.com/trump-impeachment-graphic-feature-comic-2020-2">Donald Trump's first impeachment</a>, the <a href="https://www.insider.com/great-escape-comic-harry-and-meghan-leave-royal-family-2020-8">turmoil in the royal family</a>, and the <a href="https://www.insider.com/comic-how-united-states-lost-control-of-coronavirus-pandemic-2020-9">failed federal response</a> to the pandemic.Each of these stories were strongest when they used comics to explore places cameras couldn't go. We were all aware of the situation in Xinjiang, but the visuals escaped us. You just can't get a camera into a detention facility.So we found Zumrat Dawut and listened to her story. While we weren't the first to hear it, we were the first to build a visual narrative that put readers in her perspective. Thanks to original photos and videos, as well as hours of detailed interviews, we were able to get things right. It's a harrowing read, but a necessary one, and I hope you <a href="https://www.insider.com/comic-i-escaped-a-chinese-internment-camp-uyghur-2021-12">check it out</a>. I watched the Pulitzer announcement at Insider HQ in New York. I was completely shocked (<a href="https://twitter.com/InsiderInc/status/1523764112370503680">there's a video going around of it</a>). The best part for me is the attention to the story. I'm so grateful for all the people reading it. Zumrat got in touch, and she's so pleased that more people are seeing what she endured. I've mostly tried to do good, experimental, and cool work with these comics, and to me the victory was being able to make something like this. It's an incredible honor, and I'm grateful to Insider for taking risks and investing in this kind of work. <a href="https://www.insider.com/comic-i-escaped-a-chinese-internment-camp-uyghur-2021-12">You can see the full comic here.</a><h3><a href="https://www.businessinsider.com/great-resignation-forever-turnover-job-quitting-remote-work-2022-5">Brace yourself for the 'Forever Resignation'</a></h3><a href="https://www.businessinsider.com/great-resignation-forever-turnover-job-quitting-remote-work-2022-5"></a><div type="image" title="Cubicles with &quot;I Quit&quot; signs repeating. One last cubicle lit up last person leaving" height="900" width="1201" msid="91578496" hostid="261"></div>We're a year into the Great Resignation, and positions are still going unfilled, projects are delayed, and recruiting costs and salaries have gone through the roof. Executives across corporate America are staring at their sky-high attrition rates and asking: "When in the world is this going to end?"But a new study from the research firm Gartner shows that employers may have to brace themselves for a new reality — that the Great Resignation is here to stay.Read the full story here:<ul><li><a href="https://www.businessinsider.com/great-resignation-forever-turnover-job-quitting-remote-work-2022-5">'You're going to have more shocks': Get ready for the Forever Resignation</a></li></ul>Also read: <ul><li><a href="https://www.businessinsider.com/great-resignation-get-rid-of-middle-managers-holacracy-2022-5">It's time to get rid of managers. All of them.</a></li></ul><h3><a href="https://www.businessinsider.com/google-cloud-ceo-thomas-kurian-strategy-alienates-staff-vps-2022-5">Inside Thomas Kurian's Google Cloud</a></h3><a href="https://www.businessinsider.com/google-cloud-ceo-thomas-kurian-strategy-alienates-staff-vps-2022-5"></a><div type="image" title="Google CEO Sundar Pichai and Google Cloud CEO Thomas Kurian, facing opposite directions with Google Cloud logo, and cloud with lightning in background" height="1249" width="1666" msid="91578497" hostid="261"></div>Three years ago, Thomas Kurian was hired to make Google Cloud a promising revenue source for Alphabet. So far, it's worked: Last quarter, the unit's revenue grew 44%, to $5.8 billion. But insiders say that success has come with a price. More than 20 current and former Google Cloud employees say Kurian's leadership has transformed the unit into a straitlaced and "cutthroat" organization, with "no resemblance to what Google has ever been."Read the full story here:<ul><li><a href="https://www.businessinsider.com/google-cloud-ceo-thomas-kurian-strategy-alienates-staff-vps-2022-5">Inside Thomas Kurian's 3-year reign at Google Cloud, where employees say growth has come at the cost of making it into a stodgy, cutthroat 'SAP 2.0'</a></li></ul><h3><a href="https://www.businessinsider.com/growth-hedge-funds-horrible-april-performance-d1-tiger-global-melvin-2022-5">Growth hedge funds' no good, very bad month</a></h3><a href="https://www.businessinsider.com/growth-hedge-funds-horrible-april-performance-d1-tiger-global-melvin-2022-5"></a><div type="image" title="A black-and-white illustration of Tiger Global's Chase Coleman against a tiger-pattern background." height="750" width="1000" msid="91578499" hostid="261"></div>Hedge-fund managers focused on growth stocks had a disastrous April: Tiger Global lost billions, and Melvin Capital frustrated investors with a potential reorganization.And at the end of a frustrating month, Dan Sundheim, D1's founder, uncharacteristically took to Twitter to air his frustrations over Amazon — one of his biggest investments — as his $25 billion fund was hit with losses.Read the full story here:<ul><li><a href="https://www.businessinsider.com/growth-hedge-funds-horrible-april-performance-d1-tiger-global-melvin-2022-5">Billions lost, pissed investors, and uncharacteristic tweets: A look at a horrible month for growth hedge funds</a></li></ul><h3><a href="https://www.businessinsider.com/what-y-combinator-admissions-stephanie-simon-looks-for-successful-startup-applications">How to craft a successful Y Combinator application</a></h3><a href="https://www.businessinsider.com/what-y-combinator-admissions-stephanie-simon-looks-for-successful-startup-applications"></a><div type="image" title="Stephanie Simon Y Combinator" height="4341" width="5788" msid="91578500" hostid="261"></div>Stephanie Simon, Y Combinator's head of admissions, is charged with sifting through thousands of applications for the accelerator's exclusive program — of which about 1% to 2% make the final cut. Simon sat down with Insider to share the traits that stick out to the admissions team (and the few qualities that could completely disqualify a startup).Read the full story here:<ul><li><a href="https://www.businessinsider.com/what-y-combinator-admissions-stephanie-simon-looks-for-successful-startup-applications">Y Combinator's head of admissions reviews over 20,000 startups for its accelerator a year. Here's what she looks for in a successful application.</a></li></ul><h3>This week's quote:</h3>"Are all entrepreneurs mentally ill? Hell no. Are some? Definitely. Of course. So are a lot of people. So let's stop stigmatizing it — everywhere, but especially in the business world, where it remains anachronistically verboten for reasons that feel hopelessly outdated."<ul><li>Andy Dunn, a Bonobos cofounder, in an <a href="https://www.businessinsider.com/bonobos-founder-andy-dunn-bipolar-mental-health-burn-rate-2022-5">essay adapted from his book</a>.</li></ul><h3>More of this week's top reads:</h3><ul><li>Meet Elon Musk's right-hand man, a buttoned-up Mormon <a href="https://www.businessinsider.com/meet-jared-birchall-elon-musk-family-office">whose loyalty has few limits</a>.</li><li>People are ditching big cities like New York to live in <a href="https://www.businessinsider.com/where-new-york-boston-sf-residents-are-looking-to-move-2022-4">these seven towns</a>.</li><li>New studies show that the nicer the car, <a href="https://www.businessinsider.com/road-rage-speeding-driving-traffic-large-expensive-cars-suv-2022-5">the worse the driver</a>.</li><li>We broke down how Thrasio went from "hypergrowth" to layoffs <a href="https://www.businessinsider.com/amazon-aggregator-thrasio-layoffs-what-happened-2022-5">in less than two years</a>.</li><li>Shopify appears to be on <a href="https://www.businessinsider.com/shopify-fights-to-retain-tech-talent-with-pay-overhaul-2022-5">the losing end of the talent wars</a>.</li><li>Amazon is building an advertising behemoth — <a href="https://www.businessinsider.com/how-amazon-building-huge-advertising-business-2022-5">and it's coming for Facebook</a>.</li><li>Microsoft is considering <a href="https://www.businessinsider.com/microsoft-considering-significant-pay-raises-employee-survey-2022-5">widespread pay raises, sources say</a>.</li></ul>Plus: Keep updated with the latest business news throughout your weekdays by checking out <a href="https://link.chtbl.com/therefresh">The Refresh from Insider</a>, a dynamic audio news brief from the Insider newsroom. <a href="https://link.chtbl.com/therefresh">Listen here tomorrow.</a>Curated by Matt Turner. Edited by Jordan Parker Erb, Hallam Bullock, and Lisa Ryan. <a href="https://www.businessinsider.com/subscription/newsletter">Sign up for more Insider newsletters here.</a>

The 'Great Resignation' may be here to stay

<ul><li><keyword id="11534552" type="UNKNOWN" weightage="20" keywordseo="10club">10club</keyword> has closed its seed funding round at $40 million, which is one of the largest seed financing rounds in the South Asian market. </li><li>India currently has only 285 startups led or co-led by women entrepreneurs, according to an industry report. </li><li>Before founding 10club, <keyword id="3286032" type="PERSON" weightage="20" keywordseo="Bhavna-Suresh">Bhavna Suresh</keyword> built brands like Lamudi Philippines and women’s wear on-demand rental service StyleBank.</li></ul>Even as India has climbed up to be the <a href="https://economictimes.indiatimes.com/tech/startups/what-economic-survey-2020-21-says-about-indias-startup-ecosystem/articleshow/80586774.cms#:~:text=India%20currently%20houses%20the%20world's,by%20the%20Covid%2D19%20pandemic.">third-largest startup ecosystem</a> in the world, the contribution of female entrepreneurs does not make the headlines so often. There are many reasons behind it, ranging from lack of opportunities, investor apprehension and more. But on Tuesday (June 29), a woman serial entrepreneur Bhavna <keyword id="9999" type="COMPANY" weightage="20" keywordseo="Suresh">Suresh</keyword> closed India’s largest seed round for her nine-month-old startup 10club. 10club has closed its seed funding round at $40 million, which is one of the largest seed financing round in the South Asian market. This round was co-led by consumer brands-focused Fireside Ventures and an undisclosed international investor. San Francisco-based marketplace accelerator Heyday, PDS international, Class 5 Global, Secocha Ventures led by Sanket Parekh, and boAt founders Aman Gupta and Sameer Mehta also participated in this seed funding round. Suresh founded 10club last year, along with Joel Ayala and Deepak Nair. It is an e-commerce player that will acquire small merchants and brands listed on <keyword id="18635" type="COMPANY" weightage="20" keywordseo="Amazon">Amazon</keyword> marketplace. After the acquisition of Amazon seller’s businesses, the brand will scale them up. The biggest player in the segment is New York-based Thras.io, with a presence in the US, and has acquired more than 100 third party sellers or fulfilled by Amazon (FBA) businesses. The 10club workforce is a 20-people team, with people from several enterprises and digital businesses like Amazon, <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword>, Udaan, Reliance, Coca Cola and others. According to a State of Women in Tech Entrepreneurship in India 2020 <a href="https://www.thenewsminute.com/article/women-founded-tech-startups-india-see-24-decline-funding-h1-2020-136503">report</a>, there has been a 11 times increase in the number of women entrepreneurs in the last decade (2010-2020). Yet, the number of female-founded and co-founded tech startups in the country stands at 285, as of last year. Between 1990 and 2010, only 26 startups had at least one female founder. About 75 startups added at least one woman founder by 2014 and 180 jumped by 2019. In an ecosystem with such a scarcity of women entrepreneurs, the recent milestone hit by the nine-month-old startup 10club is is a milestone for the women-led startups in the country. Even from this small pool of female entrepreneurs, many have overcome several challenges to be <a href="https://www.businessinsider.in/business/startups/news/meet-the-women-behind-some-of-indias-very-successful-startups/articleshow/74532871.cms">role models in tech</a>. This includes Nykaa’s Falguni Nayar, <keyword id="143842" type="COMPANY" weightage="20" keywordseo="Mobikwik">Mobikwik</keyword>’s Upasana Taku, Sheroes’ Sairee Chahal, Zivame’s Ruchi Kar, Yatra.com’s Sabina Chopra and others. Before founding 10club, Suresh has built brands like Lamudi Philippines (2016) and women’s wear on-demand rental service StyleBank (2014). She completed her education masters in business administration (MBA) in management strategies in HEC Paris in 2015-2016. Lamudi Philippines is a real estate startup that enables its customers to buy, sell and rent property in the Philippines. The company had raised $56 million from Asia Pacific Internet Group, Axel Springers and others. It was <a href="https://kr-asia.com/bayut-and-zameen-parent-empg-acquires-lamudi-global-to-expand-into-the-philippines-indonesia-and-mexico">acquired</a> by digital classifieds groups Emerging Markets Property Group (EMPG) last year. <a href="https://www.linkedin.com/in/deepak-nair-9586b21/?originalSubdomain=in">Nair </a>has had quite an extensive entrepreneurial journey as well. He had previously founded digital marketing agency 22feet Tribal Worldwide in 2019 and an independent advertising network White Canvas Communications in 2006. Notably, Suresh had worked as a business development manager at 22feet Tribal Worldwide between 2012 and 2014. <a href="https://www.linkedin.com/in/joel-ayala-375b3269/">Ayala</a>, on the other hand, has been a serial investor and has founded venture fund Class 5 Global in 2018. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/apple-is-spearheading-the-revival-in-personal-computers/articleshow/83943818.cms" data-type="tilCustomLink">OPINION: Apple is spearheading the revival in personal computers</a> <a href="https://www.businessinsider.in/business/startups/news/zomato-reportedly-invests-120-million-in-grofers/articleshow/83951631.cms" data-type="tilCustomLink">Grofers becomes a unicorn after Zomato reportedly invests $120 million</a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-nord-2-renders-specs-launch-date/articleshow/83946158.cms" data-type="tilCustomLink">OnePlus Nord 2 renders give us the best look yet at the upcoming affordable smartphone</a>

You Searched For "thrasio" and got 5 results

Swiggy gets a $1.25 billion cheque from Softbank for the same reason Zomato went for an IPO

Kritti Bhalla

10 things in tech you need to know today

Jordan Parker Erb

Agritech startup Vegrow raises $13 million Lightspeed, Elevation

Kritti Bhalla

The 'Great Resignation' may be here to stay

Matt Turner,Jordan Parker Erb

Meet Bhavna Suresh ⁠— a serial entrepreneur who just raised $40 million in seed funding for her startup 10club

Kritti Bhalla