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<keyword id="11032237" type="General" weightage="20" keywordseo="thrasio" source="Orion">Thrasio</keyword> Holdings Inc, an aggregator of private brands on <keyword id="18635" type="General" weightage="20" keywordseo="Amazon" source="Orion">Amazon</keyword>, on Friday said it will invest Rs 3,750 crore (nearly $500 million) to acquire leading digital-first brands in India. Thrasio started its Indian innings with acquiring Lifelong Online, a leading domestic online consumer brand, for an undisclosed sum. India is one of the fastest-growing regions for Amazon's third-party marketplace, making it enticing for aggregators. "We couldn't be more excited to work with Lifelong Online and, together, take our proven model to India," said Carlos Cashman, CEO of Thrasio. "In addition to acquiring and growing digital-first businesses, we plan to participate in the 'make in India' movement by transitioning the manufacturing for some of our products to the country," Cashman said. Thrasio has acquired more than 200 brands and raised more than $3.4 billion in funding. Lifelong will now be known as "Lifelong, a Thrasio company" and will be well-positioned to engage with India's more than 750,000 sellers. "We are building a technology-first, next-generation consumer goods company," explained Bharat Kalia, CEO of Lifelong Online. Lifelong Online was founded by Atul Raheja, Varun Grover, and Kalia in 2015. "With lucrative exit options for founders, we hope to encourage even more brands and sellers to join the D2C ecosystem in India," he added. According to the most-recent list from Marketplace Pulse, adding all of the Thrasio brands together, Thrasio would be a top-5 seller on Amazon's marketplace. In fact, Thrasio estimates that 1 in 6 US households has already purchased a Thrasio product via Amazon alone. "India is a unique market with hundreds of thousands of motivated entrepreneurs," said Cashman. Founded in 2018 by Joshua Silberstein and Cashman, Thrasio has a portfolio of tens of thousands of products. "We are thrilled to provide brand owners with the opportunity to successfully sell their businesses as well as to give consumers greater access to quality products. This is a major step in our evolution and a huge opportunity for India's sellers," said Cashman. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/reliance-industries-hdfc-bank-mindtree-vodafone-idea-and-other-hot-stocks-on-january-14/slidelist/88888740.cms">Reliance Industries, HDFC Bank, Mindtree, Vodafone Idea and other hot stocks on January 14</a> <a href="https://www.businessinsider.in/politics/world/news/russia-warns-it-will-sever-ties-with-the-us-if-it-sanctions-putin-over-ukraine-crisis/articleshow/88884832.cms" data-type="tilCustomLink">Russia warns it will sever ties with the US if it sanctions Putin over Ukraine crisis</a> <a href="https://www.businessinsider.in/science/health/news/yes-cats-can-get-covid-19-but-theyre-unlikely-to-become-seriously-ill/articleshow/88887140.cms" data-type="tilCustomLink">Yes, cats can get COVID-19, but they're unlikely to become seriously ill</a>

Amazon aggregator Thrasio will invest half a billion dollars in buying Indian brands

<ul><li><keyword id="6397414" type="General" weightage="20" keywordseo="ananth-narayanan" source="Orion">Ananth Narayanan</keyword> had led brands like Myntra and Medlife in the past, and is also a board member at Marico.</li><li><keyword id="737852" type="General" weightage="20" keywordseo="mensa" source="Orion">Mensa</keyword> Brand is a Thrasio-style house of brand company, which will acquire local retail brands and scale them up.</li><li>While several companies have raised multi-million rounds on this model, US-based Thras.io is also set to enter India soon.</li></ul><keyword id="11353130" type="General" weightage="20" keywordseo="mensa-brands" source="Orion">Mensa Brands</keyword>, founded only six months ago by Myntra’s former chief executive Ananth Narayanan, is the latest as well as the youngest startup to enter the unicorn club. A unicorn, in the startup purlance, is a company valued at over billion dollars. Mensa brand’s business model is based on the New York-based e-commerce player Thras.io, which acquires small merchants and brands listed on Amazon marketplace. Thras.io has acquired more than 100 third party sellers or fulfilled by Amazon (FBA) businesses and is valued at $5 billion. Big money backing Mensa Mensa Brands reached that milestone, after raising $135 million in a funding round led by Alpha Wave Ventures. Prosus Ventures (previously known as Naspers) also joined the fundraise as a new investor. Several existing investors — including Accel PArtners, Norwest Venture Partners and Tiger Global — also participated in the round. Ananth Narayanan served as the chief executive officer (CEO) of Myntra for four years, between 2015 and 2019. Prior to that, he worked at management consultancy firm McKinsey for almost 16 years and rose to the position of a managing partner. Narayanan also joined epharmacy company Medlife as a cofounder and CEO in 2019, which was<a href="https://www.businessinsider.in/business/startups/news/with-reliance-buying-netmeds-and-pharmeasy-merging-with-medlife-amazon-and-flipkart-are-in-for-a-tougher-competition-than-they-would-like/articleshow/77625512.cms"> sold</a> to<a href="https://www.businessinsider.in/business/startups/news/pharmeasy-is-set-for-ipo-drhp-highlights-revenue-shareholdings-and-intentions/slidelist/87644144.cms"> initial public offering (IPO)</a>-bound PharmEasy earlier this year. He is also a board member at one of the biggest consumer products companies in India, Marico, which owns popular brands like Saffola (cooking oil) and Parachute (hair oil). A growing business model He started Mensa Brand in May this year. It is a Thrasio-style house of brand company, which will acquire local retail brands and scale them up. The business model has also garnered the interest of marquee investors in India over the last one year. While Indian players like<a href="https://www.businessinsider.in/business/startups/news/bhavna-suresh-has-closed-indias-largest-seed-round-for-her-nine-month-old-startup-10club/articleshow/83978841.cms"> 10Club</a> and <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> (founded by FirstCry founder Supam Maheshwari and Edelweiss' former executive Nitin Agarwal) have garnered the interest of investors, Thras.io has taken note of this trend as well. The US-based company Thras.io raised over a billion dollars last month to enter the Indian market directly. The company reported a profit of $100 million last year and now aims to boost its revenue to $1 billion for this financial year, as per a Moneycontrol<a href="https://www.moneycontrol.com/news/business/thrasio-raises-1-billion-in-funding-plans-india-entry-7625501.html#:~:text=The%20news%20agency%20pegged%20its,have%20%241%20billion%20in%20revenue."> report</a>. Mensa Brands is the first Indian Thras.io-style company to be valued over a billion dollars. The company has acquired a dozen brands already and now plans on closing 20 more deals soon. The company will use the fresh funding to grow its portfolio and hire across functions. “We are truly platform neutral and our brands are present across different platforms like Amazon, Flipkart, Meesho and others. We are excited to back more founders and brands and scale them further,” Narayanan said. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/policybazzar-and-sigachi-share-price-jump-in-early-trading/articleshow/87730171.cms" data-type="tilCustomLink">Policybazaar gets a boost after an American fund laps up 3.4 million shares and Sigachi hits upper circuit on the morning after listing</a> <a href="https://www.businessinsider.in/business/corporates/news/jpmorgan-takes-tesla-to-court-over-elon-musks-2018-tweets-demands-162-million/articleshow/87729405.cms" data-type="tilCustomLink">JPMorgan takes Tesla to court over Elon Musk’s 2018 tweets ⁠— demands $162 million</a> <a href="https://www.businessinsider.in/cryptocurrency/news/inspired-by-elon-musk-investors-are-incorporating-meme-numerology-into-their-bitcoin-trading-strategies/articleshow/87721228.cms">Inspired by Elon Musk, investors are incorporating meme numerology into their bitcoin trading strategies</a>

Former Myntra CEO started Mensa Brand in May ⁠and it’s already worth a billion dollars

<ul><li>This is one of the largest seed funding rounds closed by an Indian startup to date.</li><li>It had raised $2 million in a pre-seed round, earlier this year, from Sequoia <keyword id="6426108" type="UNKNOWN" weightage="20" keywordseo="Surge">Surge</keyword> and other angel investors.</li><li>It plans to utilise the latest seed capital to expand its team, accelerate development of its tech and data platform.</li></ul><keyword id="350225" type="PERSON" weightage="20" keywordseo="Klub">Klub</keyword>, a fintech startup that provides revenue-based financing, has raised a seed funding of $20 million (about ₹150 crore) in a mix of equity and debt. This is one of the largest seed funding round closed by an Indian startup to date. In June, Thrasio-style startup 10Club had raised <a href="https://www.businessinsider.in/business/startups/news/bhavna-suresh-has-closed-indias-largest-seed-round-for-her-nine-month-old-startup-10club/articleshow/83978841.cms">$40 million</a> in seed funding. This was the largest seed funding round closed by a startup in India. Klub’s seed round was led by existing investors 9Unicorns and Sequoia Capital India’s accelerator programme Surge. New investors Alter Global and Japan's GMO VenturePartners also participated in this round. The investment round was represented by Wadhwa Law Offices as the legal counsel. Founded in 2019 by Ishita Verma and Anurakt Jain, Klub offers flexible growth capital ranging between ₹2 lakh to ₹30 crore to digital brands. The platform offers funding — without equity dilution or personal guarantees — for recurring marketing, inventory and other capital expenditures. Revenue based financing is a new form of fundraising that allows companies or brands to raise growth capital, without having to give up on any equity via venture capital rounds and or have debts. The repayment of the capital raised from Klub happens as a percentage of future revenues. “The digital revolution in India has leveled the playing field for local businesses, and we are thrilled to have a front-row seat in this multi trillion-dollar opportunity… India’s digital commerce ecosystem requires more than ‘one size fits all’ financing, and with this round, we can further our mission of enabling growth for loved brands,” Klub’s cofounder Jain said. It plans to utilise the latest seed capital to expand its team, accelerate development of its tech and data platform, and expand its product offerings and market segments to make Klub. It plans to deploy ₹500 crore over the next few quarters in local brands as well as digital small and medium enterprises (SMEs). The fintech startup had closed a $2 million pre-seed round in January 2021. CRED founder Kunal Shah, Livspace founder Ramakant Sharma, BlackBuck founder Rajesh Yabaji, among others also invested in the company’s pre-seed stage round. Klub uses deep data-driven analytics to make funding decisions faster. The fintech startup claims that over 500 businesses have explored funding with the platform recently. SEE ALSO <a href="https://www.businessinsider.in/retail/news/a-third-of-internet-users-would-be-actively-shopping-online-by-the-end-of-this-decade-offline-retail-to-take-a-back-seat/articleshow/85390712.cms">A third of internet users would be actively shopping online by the end of this decade, offline retail to take a back seat</a> <a href="https://www.businessinsider.in/business/startups/news/with-pharmeasy-mobikwik-and-ixigo-all-set-to-hit-the-public-market-orios-plans-to-go-deeper-into-pre-ipo-bets/articleshow/85359703.cms">With PharmEasy, MobiKwik and ixigo all set to hit the public market, Orios plans to go deeper into pre-IPO bets</a> <a href="https://www.businessinsider.in/business/auto/news/tamil-nadu-government-is-upset-about-losing-money-on-luxury-cars/articleshow/85322536.cms">Tamil Nadu government is upset about losing money on luxury cars</a>

Revenue-based financing startup Klub raises $20 million in seed round

<ul><li><keyword id="3556497" type="General" weightage="20" keywordseo="bombay-shaving-company" source="Orion">Bombay Shaving Company</keyword> was in the news for raising a Series C round of funding of Rs 160 crore led by <keyword id="2237913" type="General" weightage="20" keywordseo="malabar-investments" source="Orion">Malabar Investments</keyword>. </li><li>A direct-to-consumer brand, BSC says it aspires to clock Rs 500 crore in net revenue in the next two years.</li><li><keyword id="195814" type="General" weightage="20" keywordseo="deepak-gupta" source="Orion">Deepak Gupta</keyword>, COO, Bombay Shaving Company tells us about the brand’s ambitions, its expansion plans and its marketing strategies.</li></ul>Last week, Bombay Shaving Company (BSC) was in the news for raising a Series C round of funding of Rs 160 crore led by Malabar Investments. A direct-to-consumer brand, BSC says it aspires to clock Rs 500 crore in net revenue in the next two years. India has a massive retail market that is projected to grow from $ 779 billion in 2019 to $ 1,407 billion by 2026 and more than $ 1.8 trillion by 2030, according to Kearney Research. Meanwhile, the online shopping segment had been witnessing a healthy growth and Covid came in and gave it just the push it needed. Within the online segment too, people are now looking for niche, more personalized products, also brands that are organic, give back to the environment or support causes, which has helped the growth of the D2C industry in the last few years. In fact, India’s D2C brands are growing across categories and it is estimated to become a $100 billion addressable market by 2025, according to Avedus. Riding on this trend, brands like BSC have been able to cast its net wide. To understand its journey so far and understand where he wants to take the brand in the next few year, we spoke to Deepak Gupta, COO at Bombay Shaving Company. He told us about the brand’s ambitions, its expansion plans and its marketing strategies. Excerpts: Q) We have just entered a new calendar year but let’s take a look back at the year that went by. How did the brand fare in 2021? In 2021, we have grown 3.5X in revenue and have become truly omni-channel. We have seen interest in the brand from smaller cities and towns, and have strategically built and invested in our offline channel presence, with one of the best start-up sales team's in India. Today we are at 25,000 selling points across India. One of the big highlights of 2021 has been the launch of Women's Hair Removal Business, with Bollywood celebrity <keyword id="8493788" type="General" weightage="20" keywordseo="alaya-f" source="Orion">Alaya F</keyword> as our brand ambassador. The women's business is already contributing to 20% of our revenues. Q) BSC has ambitious plans of global expansion… Yes. We are already present in Nepal, Bangladesh etc. and now plan to launch in US, Europe, GCC and Australia, as the brand sees demand, especially from the Indian diaspora. We see the International channel achieving salience for us in a span of 18-24 months, adding 10-15% to our overall company revenue. Q) Since you are already present in Nepal and Bangladesh, how have you been marketing the brand there? How different will your strategy be for Western countries? We have seen a few aspects of the brand resonate consistently across, especially with the Indian diaspora. Firstly, the sentiment of personalized gifting on memorable occasions, and secondly, the ingredient story of our products. Our products are enriched with superfoods and traditional ingredients. Thirdly, we make delightful micro innovations in our products to provide a differentiated experience to our customers, especially in the hair management category. Marketing and brand building on these three levers has worked well for us. Q) What are a few things that have helped BSC gain an edge in the market? We have realized the importance of offline as a channel for our category very early, and are adopting a forward-looking sustainable approach, unlike other <keyword id="11032237" type="General" weightage="20" keywordseo="thrasio" source="Orion">Thrasio</keyword> clones. We also continue to invest in our brand and content creation capabilities in terms of infrastructure and people. We have very short and sharp product conceptualization to GTM cycle, along with a data-driven mindset across everything we do. Q) How big is the men's grooming market in the country and what are the opportunities there? Our total addressable market is upwards of Rs 35,000 crore. We are already a force to reckon with in the hair removal and management space and have huge ambitions to grow our presence exponentially in the next 2 years. Q) Was 2021 a good year for you in terms of revenues? What are your expectations from 2022? We grew 3.5X in 2021 and aspire to clock Rs 500 crore in net revenue in the next 2 years. Q) What do you think it is about in your marketing strategy that you've got right? We are invested in top funnel brand building and awareness, beyond just performance marketing. We have identified brand ambassadors who suit the personality of the brand beautifully. We have a data-driven mindset and leverage D2C as an insights driver to understand changing customer preferences and respond to them swiftly. We are also foraying into hyper local marketing approach, which we had experimented with in 2021 with good success. Q) Going ahead, what are your broad areas of focus as a marketer to build a stronger connect with your consumers? We want to focus strongly on the 'hair removal and hair management' space for both men and women. Our aim is to build brand on the back of strong content, relatable brand ambassadors and memorable ideas. We also plan to scale up innovation in product development and ramp up our offline presence from 25,000 touchpoints to 200,000.

We aspire to clock Rs 500 crore in net revenue in the next 2 years: Deepak Gupta, Bombay Shaving Company

<ul><li>The Series A round was led by <keyword id="1615917" type="COMPANY" weightage="20" keywordseo="FirstCry">FirstCry</keyword> and a few of its existing investors, and <keyword id="455799" type="COMPANY" weightage="20" keywordseo="Lightspeed-Venture-Partners">Lightspeed Venture Partners</keyword>. </li><li><keyword id="11673295" type="UNKNOWN" weightage="20" keywordseo="globalbees">GlobalBees</keyword> will bring more native brands from Amazon, Flipkart and other e-commerce platforms into its portfolio. </li><li>Last month, rival 10Club had closed Asia’s biggest seed funding at $40 million. </li></ul> New Delhi-based GlobalBees, a Thrasio-style investment platform, has raised $150 million in a mix of equity and debt in its Series A funding round led by FirstCry, Lightspeed Venture Partners and few other existing investors. This is the largest Series A funding round closed by a Thrasio-style startup in India. Thras.io is a New York-based e-commerce player that acquires small merchants and brands listed on Amazon marketplace. After the acquisition of Amazon seller’s businesses, the brand scales them up. Thrasio has acquired more than 100 third party sellers or fulfilled by Amazon (FBA) businesses and is <a href="https://techcrunch.com/2021/02/10/thrasio-raises-750m-more-in-equity-for-its-amazon-roll-up-play/%5C">valued</a> somewhere between $3 billion to $4 billion. GlobalBees will follow the same approach to bring more native brands from Amazon, Flipkart and other e-commerce platforms into its portfolio. The company looks to partner with beauty, personal care, home, kitchen, food, nutrition, sports, lifestyle and others. These companies should have a revenue rate of $1 million-$20 million. “GlobalBees aims to unleash the power of product innovation by Indian entrepreneurs and strategically partner with them to help them realize the full potential of their brand and products,” the company’s chief executive and co-founder <keyword id="576027" type="PERSON" weightage="20" keywordseo="Nitin-Agarwal">Nitin Agarwal</keyword> said. He further added that the company would also bring in strategic capabilities across marketing,growth, technology, distribution, sourcing, branding, warehousing, logistics, research and development (R&amp;D), product development and operations. The company will leverage the presence of FirstCry in international markets for sourcing and distribution. GlobalBees was founded by online baby product retailer FirstCry co-founder Supam Maheshwari and Edelweiss’ former president and group chief investment officer (CIO) Agarwal earlier this year. The company is said to be in talks acquiring and growing over 10 direct to consumer brands. The latest round would lead to Vikas Agnihotri of <keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">Softbank</keyword>, Harsha Kumar of Lightspeed, Atul Gupta of Premji Invest, Sudhir Sethi of Chiratae Ventures and Kshitij Sheth of Chrys Capital to join GlobalBees’ board. Over the past six months, several other companies following a similar model have raised funding. This includes 10Club that closed <a href="https://www.businessinsider.in/business/startups/news/bhavna-suresh-has-closed-indias-largest-seed-round-for-her-nine-month-old-startup-10club/articleshow/83978841.cms">Asia’s biggest $40 million </a>seed funding round last month, Powerhouse91 and Evenflow.

GlobalBees, a Thrasio-style startup launched by FirstCry and Edelweiss execs, raises $150 million in few months of launch

<ul><li>On an average, India saw four startups turn unicorns on a monthly basis.</li><li>A unicorn, in startup parlance, is a company valued at over $1 billion.</li><li><keyword id="12241709" type="General" weightage="20" keywordseo="globalbees" source="Orion">GlobalBees</keyword> raised $111.5 million, while <keyword id="4548811" type="General" weightage="20" keywordseo="mamaearth" source="Orion">Mamaearth</keyword> raised another $80 million.</li></ul>India is now home to 81 <keyword id="4112095" type="General" weightage="20" keywordseo="unicorn-startups" source="Orion">unicorn startups</keyword> after Mamaearth and GlobalBees made it to the list in the last few days of 2021. Both the companies, who work in the ecommerce space, have raised capital at a valuation of over $1 billion. GlobalBees, on December 29, announced that it has raised $111.5 million in a round led by Premji Invest. The round also saw participation from new investor Steadview Capital as well as existing investors SoftBank and <keyword id="1615917" type="General" weightage="20" keywordseo="firstcry" source="Orion">FirstCry</keyword>. The company is valued at $1.1 billion. The company runs on a Thras.io model, which is a New York-based e-commerce player that acquires small merchants and brands listed on Amazon marketplace. After the acquisition of Amazon sellers’ businesses, the brand scales them up. GlobalBees is founded by online baby product retailer FirstCry cofounder Supam Maheshwari and Edelweiss’ former president and group chief investment officer (CIO) Nitin Agarwal. It raised <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">$150 million</a> earlier this year. Mamaearth, on the other hand, is a direct to consumer (D2C) brand that sells its beauty and personal care products both online and offline. The company has raised nearly $80 million (₹589 crore) as per regulatory filings. This appears to be a part of a larger round. According to Entrackr, which first<a href="https://entrackr.com/2021/12/exclusive-mamaearth-turns-unicorn-after-a-new-round/"> reported </a>the development, Mamaearth has raised the latest round at a valuation of $1.07 billion. The company was valued at $750 million earlier this year, when it<a href="https://www.businessinsider.in/india/news/indian-skin-care-startup-mamaearth-valued-at-750-million-dollars-raises-50-million-for-acquisition/articleshow/84748327.cms"> raised $50 million</a>. Mamaearth was founded by <keyword id="4548812" type="General" weightage="20" keywordseo="ghazal-alagh" source="Orion">Ghazal Alagh</keyword> and Varun Alagh. Business Insider has reached out to Mamaearth for confirmation. India added<a href="https://www.businessinsider.in/business/startups/news/2021-indias-year-of-the-unicorn-and-its-many-high-points/slidelist/88528773.cms"> 11 ecommerce companies to the unicorn club in 2021</a>. This includes online car retailers CarDekho, Droom and Spinny, social commerce company Meesho, D2C brand Licious and another Thras.io-style startup Mensa Brands. On an average, India saw four startups turn unicorns on a monthly basis. Update: Mamaearth on January 1 announced that it raised $52 million in a round led by Sequoia. The company was valued at $1.2 billion. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/reliance-industries-sun-pharma-dr-reddys-and-other-hot-stocks-to-watch-out-for-on-december-29/slidelist/88556621.cms" data-type="tilCustomLink">Reliance Industries, Sun Pharma, Dr Reddy’s and other hot stocks to watch out for on December 29</a> <a href="https://www.businessinsider.in/business/startups/news/nykaa-zomato-paytm-oyo-and-policybazaar-made-their-employees-millionaires/slidelist/88552831.cms" data-type="tilCustomLink">19 people who became millionaires by working for Indian tech startups</a> <a href="https://www.businessinsider.in/finance/banks/news/there-is-a-small-pool-of-hope-amid-all-the-fear-around-rbl-bank/articleshow/88538626.cms" data-type="tilCustomLink">There is a small pool of hope amid all the fear around RBL Bank</a>

India is home to 81 unicorns now as Mamaearth, Globalbees make it to the list

<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

<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>

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

<ul><li>Aditya Birla Fashion &amp; Retail (ABFRL) recently bought Reebok’s India operations and brands like the House of Masaba.</li><li>Now, the company says that it will set up a new subsidiary that will directly sell to the consumer (D2C) the way Thrasio, Mensa and 10Club do.</li><li>Shares of ABFRL have surged 76% in the last one year.</li><li>The story has been corrected to reflect that the new D2C unit will not be a marketplace like Ajio or Tata Cliq, as mentioned earlier.</li></ul>After a series of partnerships with some of India’s top designers of ethnic fashion like Shantanu &amp; Nikhil, Tarun Tahiliani, <keyword id="667" type="General" weightage="20" keywordseo="ritu-kumar" source="Orion">Ritu Kumar</keyword> and <keyword id="8264" type="General" weightage="20" keywordseo="sabyasachi" source="Orion">Sabyasachi</keyword>, <keyword id="3378227" type="General" weightage="20" keywordseo="aditya-birla-fashion-and-retail" source="Orion">Aditya Birla Fashion and Retail</keyword> (ABFRL) is preparing to go directly to the consumer. The company has said that the new entity will build “a portfolio of distinct, new-age, digital brands across categories in fashion, beauty and other allied lifestyle segments” Kumar Mangalam Birla, one of India’s top billionaires with a <a href="https://www.forbes.com/sites/aayushipratap/2022/02/03/indian-billionaire-gautam-adani-becomes-asias-richest-person/?sh=7e7df8744d92">net worth of $90 billion</a>, is ready to take the next big stride into online retail. The board of ABFRL has approved the setting up of a new D2C subsidiary. The retailer has had a bunch of brands for a while but in the last two years, it’s been busy stacking up outfits from some of the top designers of wedding attire. Birla’s recent pacts with designers of ethnic wear <table style="border-width: initial; border-style: none;" 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;">Acquisition year </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;">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;">% stake in acquired firm </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;">June 2019 </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;">Jaypore &amp; TG Apparel &amp; Décor </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;">100% </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;">July 2019 </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;">Shantanu &amp; Nikhil (S&amp;N) </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;">51% </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;">July 2019 </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;">Finesse Designs </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;">51% </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;">January 2021 </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;">Sabyasachi </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;">51% </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;">February 2021 </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;">Tarun Tahiliani </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;">33.5% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> <keyword id="13104055" type="General" weightage="20" keywordseo="what-is-d2c" source="Orion">What is D2C</keyword>? Direct to consumer is when a brand sells their products directly to consumers without selling through any third party retailers, wholesalers etc. Some of the popular D2C brands in the market are MyGlamm, Mamaearth, Wow Skin Science, BoAT, and Go Noise and the number of these brands in India has more than doubled in the last two years, according to consulting firm Bain and Company. Platforms selling D2C brands include Meesho, Tata Cliq, Myntra, Nykaa and Ajio. However, ABFRL’s business model will be similar to the New York-based e-commerce player Thrasio, which acquires small merchants and brands listed on Amazon marketplace. Thrasio has acquired more than 100 third party sellers or fulfilled by Amazon (FBA) businesses and is valued at $6 billion. Indian players like 10Club, Mensa Brands (founded by Myntra's former CEO Ananth Narayanan) and GlobalBees (founded by FirstCry founder Supam Maheshwari and Edelweiss' former executive Nitin Agarwal) have garnered the interest of investors. Notably, Mensa Brands is the <a href="https://www.businessinsider.in/business/startups/news/former-myntra-ceo-started-mensa-brand-in-may-and-its-already-worth-a-billion-dollars-with/amp_articleshow/87735832.cms">youngest Indian startup</a> to be valued over a billion dollars and 10Club raised the <a href="https://www.businessinsider.in/business/startups/news/bhavna-suresh-has-closed-indias-largest-seed-round-for-her-nine-month-old-startup-10club/amp_articleshow/83978841.cms">largest seed round</a> in Asia, last year. Even Thrasio is not willing to let go off this opportunity. The company will be looking to invest <a href="https://www.businessinsider.in/business/ecommerce/news/amazon-aggregator-thrasio-will-invest-half-a-billion-dollars-in-buying-indian-brands/amp_articleshow/88894791.cms">half a billion dollars</a> in the Indian market over the next few years. The combined revenue of all D2C retailers in India was $3 billion in 2020, and is likely to be $35 billion by 2025, according to a recent report by O3 Capital. However, ABFRL’s statement pegged the D2C opportunity at a whopping $100 billion by 2025. <div type="image" title="aditya birla fashion stocks" height="900" width="1200" msid="89347682" hostid="261"></div>Now, ABFRL has been selling fashion brands like Louis Philippe, Van Heusen, Allen Solly, Peter England and many others through over 3,000 stores, for a while now. More recently ⁠— aside from the a series of pacts with makers of top dollar designer outfits ⁠— the company has also bought a <a href="https://economictimes.indiatimes.com/industry/cons-products/fashion-/-cosmetics-/-jewellery/aditya-birla-fashion-to-buy-51-stake-in-masaba/articleshow/88892651.cms">51% stake in House of Masaba</a> (a clothing and cosmetics brand), and sportswear brand Reebok’s India operations. <table style="border-width: initial; border-style: none;" 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;">Categories </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;">Brands sold by Aditya Birla Fashions </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;">Luxury </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;">The Collective, Ralph Lauren, Shantanu &amp; Nikhil, Sabyasachi, Tarun Tahiliani </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;">Super Premium </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;">Simon Carter, Hackett, Ted Baker, Jaypore, Polo </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;">Premium </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;">Louis Philippe, Allen Solly, VanHeusen, American Eagle </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;">Sub-premium </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;">Peter England, Forever 21 </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;">Value </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;">Pantaloons, People </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;">Mass </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;">Style Up </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>With this business proposition, Aditya Birla is looking to mint money out of the extensive ecommerce offerings created by Jeff Bezos through Amazon, Walmart through Flipkart, Mukesh Ambani and the Tata Group. Birla will use brands like these to sell the D2C brands it acquires to sell online. Ambani’s Reliance Retail has also been making big investments in e-tail including Ajio, a six-year old online marketplace that makes a bulk of its revenue from sale of fashion clothing. Tata’s product is called Tata Cliq, which sells products from Westside, Shoppersstop and other brands. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/textile-cigarette-metal-and-electric-batteries-sectors-stocks-up-budget-day/articleshow/89346157.cms">Textile, cigarette makers and others sector stocks that rallied since budget speech</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/gautam-adani-and-mukesh-ambani-are-now-richer-than-facebooks-mark-zuckerberg/slidelist/89338118.cms">Forbes shows Adani and Ambani are now richer than Facebook’s Mark Zuckerberg</a>

Birla has the best wedding suits stacked up and he wants them displayed on your phone

<ul><li><keyword id="11681444" type="UNKNOWN" weightage="20" keywordseo="space-teleinfra">Space Teleinfra</keyword> is a shared <keyword id="35104" type="ORGANIZATION" weightage="20" keywordseo="telecom-infrastructure">telecom infrastructure</keyword> provider for <keyword id="11682648" type="UNKNOWN" weightage="20" keywordseo="voice-and-data-connectivity">voice and data connectivity</keyword>.</li><li>The transaction is funded through a combination of cash and units of <keyword id="11682646" type="UNKNOWN" weightage="20" keywordseo="tower-infrastructure-investment-trusts">Tower Infrastructure Investment Trusts</keyword> (InvITs).</li><li>The acquisition is customary to regulatory approvals and is expected to close in the second half of 2021.</li></ul> Brookfield-backed <keyword id="7887323" type="UNKNOWN" weightage="20" keywordseo="tower-infrastructure-trust">Tower Infrastructure Trust</keyword> has acquired Space Teleinfra Private Limited (<keyword id="11681445" type="UNKNOWN" weightage="20" keywordseo="stipl">STIPL</keyword>), a indoor coverage solutions provider in India, for an equity deal of ₹900 crore. The transaction is funded through a combination of cash and units of Tower Infrastructure Investment Trusts (InvITs) that will be issued to selling shareholders. InvITs is like a mutual fund, which enables direct investment of small amounts of money from which enables direct investment of money from individual and institutional investors in infrastructure. The acquisition is customary to regulatory approvals and is expected to close in the second half of 2021. Ambit Private Limited acted as the exclusive financial advisor to the Shareholders. “With the onset of 5G and data consumption trends, seamless indoor connectivity becomes as essential as outdoor connectivity and this transaction will open new horizons for STIPL to lead this opportunity further. Through our ownership of units of <keyword id="8235303" type="UNKNOWN" weightage="20" keywordseo="Tower-InvIT">Tower InvIT</keyword>, we look forward to participating in the next chapter of growth in the shared Telecom Infrastructure business,” Ankit Goel, co-founder and managing director of STIPL said. Space Teleinfra is a shared telecom infrastructure provider for voice and data connectivity. The company commenced its operation in 2016 focused on providing telecom infrastructure to the mobile network. The company claims to have a well-spread customer base across all the three significant mobile network operators (MNOs) with a pan-India presence. Tower Infrastructure Trust further expands the suite of passive telecommunication infrastructure services for its customers with this acquisition. The company aims to target macro towers to indoor solutions, which will support the acceleration of India's digital transformation. 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">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>

Brookfield-backed Tower Infrastructure Trust to acquire Space Teleinfra for ₹900 crore

<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

<ul><li><keyword id="11111226" type="UNKNOWN" weightage="20" keywordseo="pb-fintech">PB Fintech</keyword> has also converted itself to a public limited company ahead of the IPO process.</li><li>The company received stakeholders’ approval to go public in an EGM held on July 5, 2021.</li><li>The company is reportedly seeking a valuation of $3.5 billion with this public issue. </li></ul> Online insurance marketplace <keyword id="696009" type="COMPANY" weightage="20" keywordseo="Policybazaar">PolicyBazaar</keyword>’s parent company PB Fintech has converted itself to a public limited entity and is planning to raise ₹6,500 crore (around $871 million) via an initial public offering (IPO), the company’s regulatory filings have revealed. PB Fintech has also received approval for IPO at the Extraordinary General Meeting (EGM) held on July 5. The latest details about PolicyBazaar’s ₹6,500 crore IPO was first <a href="https://www.moneycontrol.com/news/business/ipo/policybazaar-parent-firm-pb-fintech-aims-to-raise-rs-6500-crore-via-ipo-7199181.html">reported </a>by CNBC TV18. PB Fintech (formerly known as EtechAces Marketing and Consulting) was founded by Indian Institute of Technology-Delhi and Indian Institute of Management-Ahmedabad alumni Yashish Dahiya, Alok Bansal and Avaneesh Nirjar in 2008. PolicyBazaar, an online platform for users to purchase <keyword id="35504" type="PERSON" weightage="20" keywordseo="insurance-policies">insurance policies</keyword>, is one of the subsidiaries of PB Fintech. Other subsidiaries of PB Fintech include online lending platform PaisaBazaar (launched in 2014) and healthtech venture <a href="https://inc42.com/buzz/policybazaar-looks-to-tap-softbanks-portfolio-companies-for-docprime/">DocPrime</a> (launched in 2018), which lets visitors book consultations with doctors or schedule a range of medical tests. Notably, PolicyBazaar is the only entity that is going public from PB Fintech’s banner. PolicyBazaar has raised around $766 million to date. It was reportedly valued at $2.4 billion in March this year, after it raised <a href="https://economictimes.indiatimes.com/tech/funding/policybazaar-rejigs-cap-table-with-a-45-mn-round-at-2-4-bn-valuation/articleshow/81301551.cms">$45 million</a> through a secondary share sale from private equity (PE) firm True North and a few other individual investors. The company’s investors include <keyword id="260318" type="COMPANY" weightage="20" keywordseo="Tiger-Global-Management">Tiger Global Management</keyword>, <keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">SoftBank</keyword>, <keyword id="11685950" type="UNKNOWN" weightage="20" keywordseo="tencent-wellington-management">Tencent, Wellington Management</keyword>, <keyword id="1430452" type="ORGANIZATION" weightage="20" keywordseo="PremjiInvest">PremjiInvest</keyword> and Falcon Edge Capital, among others. According to a <a href="https://www.bloomberg.com/news/articles/2021-04-07/softbank-backed-policybazaar-said-to-plan-ipo-filing-next-month">Bloomberg</a> report published in April 2021 citing anonymous sources, PolicyBazaar was planning to go public before the end of this year. Meanwhile, several reports suggest that PolicyBazaar could be valued at more than $3.5 billion in its IPO. In February this year, it was reported that PolicyBazaar was<a href="https://inc42.com/buzz/policybazaar-close-to-finalising-bankers-for-ipo-at-3-5-bn-valuation/"> finalising bankers</a> for its over $540 million IPO to be listed in India. PB Fintech was said to have invited proposals from at least eight investment banks for the proposed IPO. The company is expected to dilute up to a 15% stake in the public offering. 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" style="">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" style="">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" style="">This toolkit will tell you if your phone is infected by the Pegasus spyware</a>

You Searched For "thrasio startups india" and got 12 results

Amazon aggregator Thrasio will invest half a billion dollars in buying Indian brands

IANS

Former Myntra CEO started Mensa Brand in May ⁠and it’s already worth a billion dollars

Kritti Bhalla

Revenue-based financing startup Klub raises $20 million in seed round

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We aspire to clock Rs 500 crore in net revenue in the next 2 years: Deepak Gupta, Bombay Shaving Company

Samarpita Banerjee

GlobalBees, a Thrasio-style startup launched by FirstCry and Edelweiss execs, raises $150 million in few months of launch

Kritti Bhalla

India is home to 81 unicorns now as Mamaearth, Globalbees make it to the list

Kritti Bhalla

Agritech startup Vegrow raises $13 million Lightspeed, Elevation

Kritti Bhalla

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

Kritti Bhalla

Birla has the best wedding suits stacked up and he wants them displayed on your phone

Sriram

Bhakti

Brookfield-backed Tower Infrastructure Trust to acquire Space Teleinfra for ₹900 crore

Kritti Bhalla

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

Kritti Bhalla

PolicyBazaar plans to raise close to $870 million through its IPO at a likely valuation of $3.5 billion

Kritti Bhalla

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