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The likes of <keyword id="6362888" type="General" weightage="20" keywordseo="shubman-gill" source="Orion">Shubman Gill</keyword> and <keyword id="982208" type="General" weightage="20" keywordseo="shreyas-iyer" source="Orion">Shreyas Iyer</keyword> deserve patience amid their current poor run, according to Indian batting coach <keyword id="1395838" type="General" weightage="100" keywordseo="vikram-rathour" source="Orion">Vikram Rathour</keyword> who has urged his wards to tackle England's aggression with intelligence in the second Test at Vishakhapatnam. The Indians lost the opening Test in Hyderabad by 28 runs despite having a 190-run first innings lead. England managed to shock the home favourites with their 'Bazball' approach with Ollie Pope scoring a match-winning 196. The second Test starts here on Friday. "There are young batters in our team who have not played much Test cricket. So, we need to be a bit patient with them. Batters like (Shubman) Gill, (Yashasvi) Jaiswal and (Shreyas) Iyer will eventually start getting big runs, I'm sure of it," Rathour said at a press conference here. Although Jaiswal played a knock of 80 in the first innings of his fifth Test, Gill and Iyer failed to fire, continuing their struggles in the format. While Gill has played 21 Tests, Iyer has appeared in 13 five-day games. Gill hasn't scored a 50 in his last nine Test innings. Iyer has been similarly off-colour. Rathour said he expects better application from the side's batters in second Test where the home team will once again miss the services of the redoubtable Virat Kohli. "There's a difference between playing with intent and playing attacking cricket. I want them to play with intent. If there is the opportunity to score some runs, they should take it," Rathour said. "They need to decide by looking at the surface and conditions. So, the batters need to possess that intelligence as to which is the best or safest shot on the surface," he explained. Rathour felt India's batting performance in the second innings of the Hyderabad Test probably lacked discipline. "Could they have batted with more discipline? Maybe they could have. That's what they need to decide and come up with their plans," he observed. "But, they need to score runs by playing their shots, as you need to back your strengths. Batting is always about scoring runs. It's not about not getting out but how many runs you put on the board," he said. England used the sweep shot quite well to blunt the effectiveness of Indian spinners but Rathour said it's not a stroke that can be added overnight to a player's repertoire. "...you need to be prepared for that by practising it. If you add more shots to your game, it's always beneficial. We played traditionally. The strength of strong areas is going straight when it comes to using our feet. "We can keep doing that, and of course, if we can add more shots and score through the square of the wicket, that's always an addition," he said. Rathour also heaped praise on the English batters for playing brave cricket, especially Pope, effectively taking the game away from Rohit Sharma's men. However, he maintained that England's strong showing has not put his team under any additional pressure. "They (England) were brave. They took their chances, which worked for them. The kind of innings Pope played was exceptional. I haven't seen too many playing such a knock against our bowling attack," he said. "I don't think (there's any pressure). We are expected to win while playing in India, and the boys are used to that by now. "The message to them from the support staff is to play good cricket and not bother about results too much. The other teams also come well-prepared. Since we have won Test matches in Australia, England and South Africa, we also expect them to win a Test in India."

Indian batting coach urges patience with Gill, Iyer

<ul><li><keyword id="14929324" type="General" weightage="20" keywordseo="Solethreads" source="Orion">Solethreads</keyword>, a casual footwear brand offer a wide and fun range like grass flip flops, graphic footwear, Yoga slings in addition to the comfortable and anti-skid versions.</li><li>It participated in <keyword id="14960240" type="General" weightage="20" keywordseo="Amazons-startup-accelerator-programme" source="Orion">Amazon’s startup accelerator programme</keyword>, securing $50,000 in an equity-free grant after a month-long mentorship programme.</li><li>The company also clocked a ₹50 lakh gross merchandise value (GMV) on <keyword id="18635" type="General" weightage="80" keywordseo="amazon" source="Orion">Amazon</keyword> in just four months after launching on the e-commerce platform.</li></ul>After closely working with big footwear brands like Bata, Hush Puppies, Puma and Benetton for a decade, Delhi-based Gaurav Chopra realised that no Indian brand offers a wide range of options for flip flops. Indians who love casual dressing also need a range of casual footwear and the four co-founders – Chopra, <keyword id="14960239" type="General" weightage="50" keywordseo="sumant-kakaria" source="Orion">Sumant Kakaria</keyword>, <keyword id="1520458" type="General" weightage="80" keywordseo="vikram-iyer" source="Orion">Vikram Iyer</keyword> and Aprajit Kathuria – came up with the idea of a go-to brand for flip flops. Their flip flops offer a wide and fun range like grass flip flops, graphic footwear, Yoga slings in addition to the comfortable and anti-skid versions. Like most new-age product brands, they are made from recyclable material. Apart from being made from 100% recyclable material, it is also certified by People for the Ethical Treatment of Animals (PETA). “Each and every part of solethreads flip flop is either recycled or made with plant based extracts and recycled cotton, nylon and polyester. We ensure that all our materials, processes and products use responsible and sustainable methods,” said Vikram Iyer, the one of co-founders. <cmsannotation type="cmsannotation" annotationid="New shoes for old" comment="subhead" text="New shoes for old">New shoes for old</cmsannotation> The footwear straps are also made from plant based vegan extracts, which are skin-friendly, tear-resistant and long-lasting. “In our efforts to promote sustainability, they are all organically and ethically sourced, manufactured and distributed. We use absolutely 0% animal by-products in the production and processing of all our straps and uppers,” it added. In fact, it also started a ‘Reuse’ programme last year, in which it gave discounts to its customers who brought in their old pair of flip flops. “We ask our customers to bring their old pair of footwear so that we can recycle it internally. And then we give discounts to the customers who do that,” Iyer added. <cmsannotation type="cmsannotation" annotationid="Going global" comment="subhead" text="Going global">Going global</cmsannotation> The digital first brand, which was founded in 2018, sells its merchandise through its website along with e-commerce platforms like Amazon, Myntra, Nykaa Fashion and Ajio. It also has its own distribution channel with over 600 outlets through 22 distributors. It had raised ₹13 crore from DSG Consumer Partners and Saama Capital in a series A round of funding in April last year. The company clocked a ₹50 lakh gross merchandise value (GMV) on Amazon in just four months after launching on the e-commerce platform. Now it wants to take its products global. “We have always felt at Solethreads that our products are a good fit for customers no matter where they are and hence going global is a key part of our business strategy,” Iyer added. It participated in Amazon’s startup accelerator programme, securing $50,000 in an equity-free grant after a month-long mentorship programme. The grant will come in handy for the company’s expansion plans. It’s planning to open physical stores at various locations in India in the next 6-8 months, Vikram Iyer, co-founder, Solethreads, told Business Insider India in an interview. “Propel Accelerator has just made that journey easier and shorter for us. We are known manufacturers, but we do not have competence. So, some part of the grant is going to go into the capital and some for exploring profitable ways of consumer acquisition in the digital journey to ensure that we get more new consumers purchasing our products,” Iyer said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/electric-mobility-startup-yulu-raises-82-million-in-series-b-funding/articleshow/94143818.cms">Electric mobility startup Yulu raises $82 million in Series B funding</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/the-market-strategy-would-be-to-buy-on-dips-and-sell-on-rallies-arun-kejriwal/articleshow/94141621.cms">The market strategy would be to buy on dips and sell on rallies: Arun Kejriwal</a>

Quirky maker of flip flops merges style with sustainability

Luxury carmakers <keyword id="19980471" type="General" weightage="20" keywordseo="Mercedes-Benz" source="keywords" meta.keywordsubtype="org" meta.entityname="Mercedes-Benz" meta.hostid="153" meta.entityid="Mercedes-Benz">Mercedes-Benz</keyword>, <keyword id="19911529" type="General" weightage="20" keywordseo="Audi" source="keywords" meta.keywordsubtype="org" meta.entityname="Audi" meta.hostid="153" meta.entityid="Audi">Audi</keyword>, and <keyword id="19911528" type="General" weightage="20" keywordseo="BMW" source="keywords" meta.keywordsubtype="org" meta.entityname="BMW" meta.hostid="153" meta.entityid="BMW">BMW</keyword> are eyeing robust sales during the festive period this year with demand for <keyword id="20194571" type="General" weightage="20" keywordseo="High-end-cars" source="keywords">high-end cars</keyword> continuing to see an upward trend in India. In an interaction with PTI, Mercedes-Benz India MD and CEO Santosh Iyer said the luxury car segment is set for its best-ever performance this year with <keyword id="19894908" type="General" weightage="20" keywordseo="Festive-season" source="keywords">festive season</keyword> offtakes playing a major role in the overall performance. He noted that the festive season generally gives high double-digit <keyword id="20040491" type="General" weightage="20" keywordseo="Sales-growth" source="keywords">sales growth</keyword>, helping the automaker to average out single-digit growth of the earlier quarter. "So in that sense, on an average, then we are able to get a double-digit growth during the festive season," Iyer stated. Elaborating on the overall industry, which still remains a very small part of the overall passenger vehicle market in the country, he said the segment is headed for record volumes this fiscal year but not all players are witnessing growth." Some (companies) are even degrowing, some are flat and they are facing headwinds, but because we are the primary player in the market, we still feel the luxury car market should cross 50,000-51,000 cars this year," Iyer said. The luxury car market in India currently remains very small accounting for less than 2 % of the overall passenger vehicle market in the country. Audi India Head Balbir Singh Dhillon said the automaker anticipates positive buying trends to continue during the festive season. "Our best-selling models - the A4, A6, Q3, Q3 Sportback, Q5, Q7, and the newly launched Q8 - continue to drive robust demand," he added. The company is equally optimistic about the e-tron range, the e-tron GT and RS e-tron GT, Dhillon said. BMW Group India President Vikram Pawah said the fundamentals of the Indian economy are sturdy and consumer confidence in the luxury segment is on the rise. "For BMW Group India, the order bank is solid and we are trying our best to speed up deliveries for our customers. Along with additional bookings around Diwali and Dussehra, we are confident of closing the year on a high note while clocking impressive growth," he stated. He noted that the group is witnessing very strong demand for products across all segments. Pawah said that in the run-up to the festive season, the company has introduced several special editions of its existing model range. The festive season usually commences with Onam and ends with Diwali every year.

Luxury carmakers Mercedes, Audi, BMW expect robust sales this festive season

<ul><li>Solethreads, <keyword id="14923780" type="General" weightage="80" keywordseo="ecoright" source="Orion">EcoRight</keyword> and Go Desi cumulatively receive $100,000 as an equity-free grant from <keyword id="18635" type="General" weightage="100" keywordseo="amazon" source="Orion">Amazon</keyword>.</li><li>Over 1,000 entries were received for Amazon Global Selling Propel Startup Accelerator Season 2 launched earlier in the year to help Indian startups go global.</li><li>The 15 shortlisted startups underwent an 8-week mentorship programme organized by Amazon.</li></ul>Amazon <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword> today announced the winners of its Amazon Global Selling Propel Startup Accelerator Season 2. Solethreads, EcoRight and Go Desi were chosen amongst 1,000 startups that have applied for the programme. The three emerged winners cumulatively will receive a $100,000 grant from Amazon for global expansion. Solethreads emerged as the winner while Ecoright and GoDesi came a close second. Solethreads, a Delhi-based flip flop startup which started in 2019, sells casual wear flip flop and shoes across various states in India. “In the last couple of months, we got many opportunities to interact with industry stalwarts, VCs and peers. We learnt about the nuances of building a global business, serving global customers with varying preferences, benefits of going directly to customers worldwide and more. This is just a start for us,” said Vikram Iyer, co-founder, Solethreads. EcoRight is an Ahmedabad based startup which sells sustainable tote bags, and have 90% of women as their factory workers. The company was awarded the second prize in the Amazon Global Selling Propel Startup Accelerator in Delhi. GoDesi, one stop for candies and mithais, was the third winner of the accelerator programme. “India is the third largest hub of the startup ecosystem with over 75,000 companies. Out of these, 57% are conceived in tier 2 and 3 cities,” said Deepak Bagal, managing director and CEO of Invest India, speaking at the event. Also, 60% registered startups in the ecommerce space have at least one woman director, added Bagal. <cmsannotation type="cmsannotation" annotationid="‘Startups can now focus on the product, not compliance’" comment="subhead" text="‘Startups can now focus on the product, not compliance’">‘Startups can now focus on the product, not compliance’</cmsannotation> More than 1000 startups and emerging brands had applied for the programme. Out of which, top 15 were selected as finalists including Almo, Avishkaar, Belora, EcoRight, Eske, Go Desi, Greencure, Hathmic, IVEI, Masterchow, Minimalist, Shumee, Sleepy Owl Coffee, SoleThreads and The Artment. Launched in January 2021, Amazon Global Selling Propel Accelerator programme is designed to help early-stage startups in the consumer products space expand globally and become international brands. The second season of Propel Accelerator was launched in February 2022 in partnership with Accel, DSG Consumer Partners, Fireside Ventures and Sequoia Capital India. “Even a small player in India can now just focus on the product and not worry about compliance and logistics or advertisement. Information about the demography of customers is readily available. It unlocks the entrepreneurial spirit of India. In the last 17 months alone, $2 billion of cumulative exports have been sent from India,” said Raghav Rao, VP Finance, India and emerging, Amazon India at the event. As a part of the programme, a cohort of select startups receive 1:1 mentorship from industry leaders, a platform to interact with investors and receive handholding support in going global. Slurrp Farm, <keyword id="7326219" type="General" weightage="50" keywordseo="sirona" source="Orion">Sirona</keyword> and Wellbeing Nutrition were the winners of the programme’s inaugural season in 2021. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/tamilnad-mercantile-bank-ipo-subscribed-2-85-times-on-last-day-of-issue/articleshow/94053930.cms">Tamilnad Mercantile Bank IPO subscribed 2.85 times on last day of issue</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/retailtech-startup-daalchini-raises-4-million/articleshow/94045971.cms">Retail-tech startup Daalchini raises $4 million in a round led by Unicorn India Ventures</a>

Solethreads, EcoRight and Go Desi are the winners of Amazon’s startup accelerator programme

<ul class="summary-list"><li><keyword id="159176" type="ORGANIZATION" weightage="60" keywordseo="University-of-Washington">University of Washington</keyword> scientists have designed a wireless <keyword id="1592211" type="PERSON" weightage="60" keywordseo="camera">camera</keyword> that can fit on the back of a <keyword id="61548" type="ORGANIZATION" weightage="60" keywordseo="Beetle">beetle</keyword>.</li><li>Researcher Vikram Iyer told Business Insider it's an important step forward for developing wireless camera technology, because although cameras on smartphones are also small, they are connected to bigger processors and batteries.</li><li>Next the team is looking at attaching the cameras to moths and spiders.</li></ul>Scientists at the University of Washington have successfully created a wireless camera so miniature it can be carried on a beetle's back.The scientists published their research on July 15 in <a href="https://robotics.sciencemag.org/content/5/44/eabb0839">Science Robotics</a>, as first reported by <a href="https://www.engadget.com/researchers-robotic-camera-beetle-backpack-180039321.html">Engadget</a>. Their camera weighs just 248 milligrams and can rotate 60 degrees while streaming black-and-white video back to a smartphone from a beetle's back using Bluetooth from a distance of up to 120 meters. The team have been working on the research since fall 2018 Vikram Iyer, one of the authors on the paper, told Business Insider.So why build GoPros for beetles? "Aside from sounding like something from a sci-fi movie, this small wireless vision system is an important step to miniaturizing robots," said Iyer.<div type="image" title="beetle gopro 5" height="1586" width="2114" msid="77034927" hostid="261"></div>While cameras in smart phones are much smaller than the ones mounted on the beetles' backs by the researchers, they are not wireless in the same sense as they're hooked up to bigger bits of hardware."While camera chips we have in things like our phones are small, they still have pretty large batteries and processors," said Iyer.He said advances in miniaturizing wireless cameras could have huge benefits for robotics."Vision has also become very important for all kinds of larger robotic systems, think cameras on drones and autonomous cars. When we start talking about really small robots though, about the size of a penny, wireless vision becomes pretty challenging due to power size and weight requirements. Enabling small robots to 'see' though could be useful for all sorts of tasks like exploring pipes and other confined spaces," said Iyer.<div type="image" title="Beetle gopro 2.JPG" height="2000" width="3000" msid="77034929" hostid="261"></div>Iyer theorized that cameras mounted on live insects could even have their own applicable benefits in the real world."Since insects are much better at storing energy, they can walk around for hours unlike man made robots and opens up the potential for using them to gather data in places like smart farms," he said.The researchers chose beetles as their test subjects because they thought the bugs would have the requisite strength to carry the cameras, and because beetles are easy to handle as they don't bite or sting. Specifically the team used two species of darkling beetle, the stinkbeetle (Eleodes nigrina) and the smooth death-feigning beetle (Asbolus laevis).In future, the beetlecam could end up on various kinds of creepy-crawly, according to Iyer."We could definitely put this on other insects as well though that can carry this weight, and are exploring the idea of putting them on moths or spiders," he said. He added that other researches have got in touch about potentially putting the cameras on birds as well, as many smaller species of bird can't carry much weight while flying.

Scientists successfully put tiny GoPro-style wireless cameras on beetles, and it's paving the way for miniature robots

<ul><li><keyword id="4306161" type="General" weightage="20" keywordseo="cars24" source="Orion">Cars24</keyword> has raised a funding of $450 million from marquee investors of the startup ecosystem.</li><li>It is reportedly valued at $1.75 billion, followed by Droom with a $1.2 billion valuation.</li><li><keyword id="1980082" type="General" weightage="20" keywordseo="cartrade" source="Orion">CarTrade</keyword>, despite being profitable, has not been able to cross the billion dollar mark.</li></ul>Gurugram-based used cars marketplace Cars24 became a unicorn last year and raised some more money now despite piling up losses. Meanwhile, its competitor CarTrade Technologies, which is profitable and listed on the stock exchanges since August, continues to be valued at less than half the estimated valuation of Cars24. <div type="image" title="Loss-making Cars24 is worth more than a profitable CarTrade ⁠— here’s why" msid="86158018" hostid="261"></div> Analysts say this could have to do with who’s investing in both companies and the latter’s international presence. Nearly three weeks after its listing, CarTrade remains an underperformer even in the stock market whereas, last week, Cars24 raised more funding and raised its valuation to somewhere between $1.72 billion to $1.75 billion. On September 10, <a href="https://entrackr.com/2021/09/exclusive-cars24-raises-259-mn-at-around-1-75-bn-valuation/" data-type="tilCustomLink">eight marquee </a>investors of the startup ecosystem pumped in $258.6 million into Cars24, which had turned into a unicorn last year in November, after raising<a href="https://www.businessinsider.in/business/startups/news/cars24-is-indias-latest-unicorn-as-it-raises-200-million-from-dst-global-and-existing-investors/articleshow/79388631.cms"> $200 million</a> in a round led by DST Global. A unicorn, in startup purlance, is a company valued over a billion dollars. Cars24 was the first startup to cross the threshold in this segment of its operation. Later it was reported that the <a href="https://www.cars24.com/blog/cars24-raisesi-450-million-nearly-doubles-its-valuation-to-1-84-billion/" data-type="tilCustomLink">round aggregated up to $450 million</a>, of which $340 milion was equity investment while $110 million was raised in debt. The company was valued at 1.84 billion post this round. It is followed by Droom, which was recently<a href="https://www.businessinsider.in/business/startups/news/droom-automobile-marketplace-raises-200-million-in-a-pre-ipo-round-at-unicorn-valuation/articleshow/84818567.cms"> valued</a> at $1.2 billion. Meanwhile, CarDekho is in advanced stages of talks to close a funding round with over $1 billion valuation. These were the investors who bet big bucks in Car24’s latest round. Kunal Khatter, managing partner at mobility-focused investment firm AdvantEdge, told Business Insider that private investors and retail investors value companies with different yardsticks. “Analysts in the public market are far more stringent on how they value and give recommendations for buy or sell, because they are answerable to the public.. On the private side, valuation is an outcome of what an incoming institutional investor thinks the company is going to be worth…” Khatter added. Ankur Bansal, co-founder of investment firm BlackSoil noted that the difference in revenue and scale of the companies has also resulted in the difference of valuations. However, valuations of public listed companies are considered as a benchmark because each analyst or firm can have different methods to value a business. Point of difference between CarTrade and Cars24 (Cars24 Services Private Limited). <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;">Metrics </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;">CarTrade </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;">Cars24 </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;">Revenue (in FY20) </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;">₹318.4 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,059 crore </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;">Profit after tax/(Loss) (FY20) </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;">₹31.2 crore </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;">(₹277.18 crore) </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;">Cities </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;">300 </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;">150 </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;">Countries </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;">India </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;">India, Australia, UAE </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Founded by Vikram Chopra, Gajendra Jangid, Ruchit Agarwal and Mehul Agrawal, Cars24 allows customers to sell their old cars through their omnichannel network. A consumer can simply book an appointment with any of the Cars24 branches, visit the branch and sell a car in a single visit. The company has recently expanded to Australia and UAE. AdvantEdge’ Khatter also noted that these two businesses, Cars24 and CarTrade, may look similar on the outside but are in fact very different at their core which has led to difference in the valuation. CarTrade also owns other platforms like CarTrade, Carwale, CarTradeExchange, Shriram Automall, Adroit Auto, Auto Biz, and BikeWale. Majority of CarTrade’s valuation comes from its three assets: Carwale, commercial trucks platform Shriram Automall and inspection business Adroit Auto, Khatter added. The whole reason why CarTrade is profitable is because of Carwale, but again it's a classification that allows you to compare prices. The other two businesses are profitable too, but don’t generate a lot of revenue, Khatter said. “They are market leaders in all these spaces, but the problem with market leaders is that there is not much room to grow,” he said. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Segment </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;">CarTrade </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;">Cars24 </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;">New automobile sales </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;">Yes </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;">No </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;">Used car sales </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;">Yes </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;">Yes </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;">Commercial vehicles, farm and construction equipment </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;">Yes </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;">No </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;">Online auction platform </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;">Yes </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;">No </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;">Vehicles financing </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;">Yes </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;">Yes </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;">Car inspection </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;">Yes </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;">Yes </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Cars24 has also positioned itself as US-based Carvana, an online dealer of pre-owned cars, which has a market cap of $27.7 billion. “This is why foreign investors are more comfortable giving that sort of premium to Cars24,” Khatter added. On the other hand, CarTrade doesn’t have any international presence. “The original CarTrade was a business-to-business car auction platform, which banks used to liquidate assets. That’s not a real value generator because the margin is very low. They are the market leaders in that, yes, but it's a very limited tank,” he added. ALSO WATCH: Droom founder Sandeep Aggarwal's interaction with Business Insider, where he talks about the company's surging valuation, upcoming IPO and expansion plans. <div type="javascript" title="Custom" contenttype="Video"><cdata><![CDATA[ ]]></cdata></div> Update: Cars24 on September 20 announced that it raised $450 million, at a valuation of $1.85 billion. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/reliance-infra-reliance-industries-zomato-and-other-top-stocks-to-watch-out-for-on-september-13/slidelist/86156619.cms">Reliance Infra, Reliance Industries, Zomato and other top stocks to watch out for on September 13</a> <a href="https://www.businessinsider.in/international/news/the-first-transgender-person-elected-bishop-in-a-major-christian-church-wants-to-inspire-hope-and-expand-peoples-minds-about-trans-people/articleshow/83528986.cms">The first transgender bishop in a major Christian church wants to inspire hope and expand people's minds about trans people</a> <a href="https://www.businessinsider.in/entertainment/news/superhero-movies-have-a-deep-connection-to-9/11-and-it-shows-how-nyc-and-disney-capitalized-on-our-collective-grief/articleshow/86116230.cms">Superhero movies have a deep connection to 9/11, and it shows how NYC and Disney capitalized on our collective grief</a>

Loss-making Cars24 is worth more than a profitable CarTrade ⁠— here’s why

<ul class="summary-list"><li><keyword id="11892747" type="UNKNOWN" weightage="60" keywordseo="india" source="Orion">India</keyword>, the world's largest democracy, has not explicitly condemned the invasion of <keyword id="11985141" type="UNKNOWN" weightage="60" keywordseo="ukraine" source="Orion">Ukraine</keyword>.</li><li>It's distanced itself from Putin, but its social-media platforms are awash with <keyword id="11919168" type="UNKNOWN" weightage="60" keywordseo="misinformation" source="Orion">misinformation</keyword>.</li></ul>Arun Pudur, the founder of an Indian software firm, has 78,000 followers on Twitter. On <a href="https://twitter.com/arunpudur/status/1499178413445513216?s=20&amp;t=UmMUEWC1tNOiM4EoB_LlHg">March 3</a>, he tweeted that the Ukrainian army had captured Indian students and was "using them as Human shields" in its fight against Russia's invasion.This misinformation racked up hundreds of likes and retweets.<div type="image" title="Screengrab of tweet claiming the Ukrainian Army held Indian students hostage" height="767" width="654" msid="90491862" hostid="261"></div>The incendiary claim, which echoed untruths <a href="https://tass.com/society/1415491?utm_source=google.com&amp;utm_medium=organic&amp;utm_campaign=google.com&amp;utm_referrer=google.com">from Russian President Vladimir Putin</a>, drew a swift <a href="https://twitter.com/MEAIndia/status/1499221560657252356">rebuttal from Prime Minister Narendra Modi's government</a>. The Indian government's willingness to dismiss pro-Russia misinformation about Ukraine belies how complicated its position is on the issue. It abstained on a UN Security Council resolution condemning Russia. While its language on the war has hardened since the invasion, it's still the lone member of the 10 largest economies, other than China, that has yet to openly criticize Russia or join economic sanctions against the country.While India's position has been evolving, pro-Russia, pro-Modi false claims have had their uses. They can blunt criticism that New Delhi has faced domestically for its failure to evacuate the 18,000 students trapped in Ukraine sooner, at a time when Indians have gone to the polls in regional elections.Pudur, who did not respond to a request for comments from Insider, runs one of several thousands of Indian social-media accounts propagating Kremlin talking points about a conflict taking place more than 2,500 miles away. The failure to evacuate the students sooner sparked criticism of the Modi administration. In response, pro-government handles began promoting untruths that promoted New Delhi's efforts and supported Putin, according to fact-checkers.By March 9, #OperationGanga — the name of the Modi government's mission to rescue citizens from Ukraine — was the top-trending topic on Twitter in India, while #IStandWithPutin had more tweets than #StopPutinNOW. All of this played out as five Indian states voted for their legislatures through February and early March.<div type="image" title="Screenshot of a Twitter trending topics in India" height="2048" width="922" msid="90491863" hostid="261"></div>As India has come under international pressure to publicly condemn its longtime friend, Russia, pro-Modi handles have amped up efforts to defend that position, often relying on Moscow's untruths."Misinformation becomes most useful when you have to shape a new narrative, or — in the view of those peddling lies — correct a narrative," said Pratik Sinha, the cofounder of Ahmedabad-based fact-checking platform Alt <keyword id="11893589" type="UNKNOWN" weightage="100" keywordseo="news" source="Orion">News</keyword>, which has busted many of the false claims."The government doesn't mind if it has to issue a denial later. By then, their narrative has taken hold."India's official position on the conflict has evolved. Before the invasion, its public statements emphasized a desire for a peaceful resolution and respect for "legitimate security concerns of all countries," a rhetorical concession to Russian President <keyword id="11899444" type="UNKNOWN" weightage="60" keywordseo="vladimir-putin" source="Orion">Vladimir Putin</keyword>'s claims.Since February 25, though, its statements have instead underscored the need to respect the "sovereignty and territorial integrity" of all nations. Modi has spoken with Ukrainian President Volodymyr Zelenskyy twice since the start of the war, and India is sending humanitarian aid to Kyiv.Rajeswari Pillai Rajagopalan, the director of the Center for Security, Strategy, and Technology at the New Delhi-based Observer Research Foundation think tank, told Insider that India's position was becoming "harsher and harsher toward Moscow" because "Russia has put India in a tough spot, and India isn't happy about that." India's willingness to counter Kremlin misinformation seemingly reflects this growing distance, even if it embarrasses pro-government social-media handles.Earlier this month, as the students trapped in Kharkiv in eastern Ukraine pleaded for help from Modi, the Indian embassy there asked them to leave the besieged city within a specified window of time. Soon, a flood of tweets claimed Modi had managed to stop the war altogether for a few hours to enable the evacuation."India paused a war for 6-8 hours just to get Indians out - a war that nobody, not the US, not the EU, has been able to stop," the <a href="https://twitter.com/Iyervval/status/1499102818547822594?s=20&amp;t=ikywqzwfvSlbvGXxmn9xfQ">defense analyst and self-described "theologian of the Indian right" Abhijit Iyer-Mitra</a> tweeted, garnering nearly 10,000 retweets.<a href="https://twitter.com/mvmeet/status/1499217585766043650?s=20&amp;t=wmKL2ZQv_cJOK4B5r2mslA"></a><div type="image" title="Screengrab of false tweet claiming India 'paused the war in Ukraine for 6-8 hours'" height="341" width="614" msid="90491864" hostid="261"></div><a href="https://twitter.com/mvmeet/status/1499217585766043650?s=20&amp;t=wmKL2ZQv_cJOK4B5r2mslA">Mahesh Vikram Hegde,</a> the founder of an online platform called Postcard News and an emphatic Modi supporter, tweeted: "That's the power of Modi."<div type="image" title="Screengrab of false tweet saying Indian PM Narendra Modi negotiated a ceasefire in Ukraine." height="502" width="620" msid="90491866" hostid="261"></div>Official handles of the BJP, Modi's ruling political party, <a href="https://twitter.com/BJP4Maharashtra/status/1499392091247419393?s=20&amp;t=V1qll1cG5LhjPCcCVsZ31g">further amplified the claim</a>. Hours later, India's foreign ministry called it "<a href="https://www.youtube.com/watch?v=wDZQiMmoICg&amp;t=1268s">absolutely inaccurate</a>."On March 14, Alt News busted another fake claim that <a href="https://www.altnews.in/no-these-arent-pak-and-turkish-students-who-used-indian-flag-to-escape-ukraine/">Turkish and Pakistani students</a> waved Indian flags to ensure safe passage. In February, it also busted a claim an <a href="https://www.altnews.in/air-india-flight-in-war-tone-ukraine-no-misinfo-believed-to-be-true/">Air India plane had braved Ukrainian airspace</a> alone to rescue them.Alt News identified more than 100 accounts that shared a fake image purporting to show this, including one called "Modi Once More" and another that said it showed "the power of new India."<div type="image" title="Screengrab of a tweet showing a screengrab of a map of Ukraine and one plane entering its airspace" height="885" width="605" msid="90491869" hostid="261"></div>At the time, Modi and his colleagues <a href="https://twitter.com/rssurjewala/status/1497805182180093953?s=20&amp;t=K1SYuTj8tLJAU2SGWdSUzA">were facing accusations from the opposition</a> of focusing on election campaigns and ignoring the trapped students.Srijit Das, a fact-checker with another anti-misinformation platform, Boom Live, told Insider that political leaders were trying to help Modi by encouraging the spread of pro-India misinformation about Ukraine."When the government was facing severe pressure from all across the country, some political leaders and party workers were actively working on their gadgets to distract people," Das said.The false claims aren't limited to India's evacuation effort. As India walks a diplomatic tightrope over the conflict, pro-Modi handles have continued to push pro-Russia misinformation justifying the invasion and underplaying the severity of the crisis. Footage from a climate-crisis protest was used to suggest that the <a href="https://twitter.com/PirateHeartArt/status/1498678466321035266?s=20&amp;t=0FFElVUry8M31EgYKQBGmg">war is a hoax.</a>Pudur has repeated unsubstantiated assertions that the <a href="https://twitter.com/arunpudur/status/1501401233319690240?s=20&amp;t=ZoAc2-2rGyrdQfMzo8CFdQ">United States provoked the invasion by funding dangerous biolabs</a> in Ukraine.The pro-Russian slant of misinformation doesn't surprise Somdeep Sen, an international-affairs analyst at Roskilde University, Denmark, who noted the majority of India's military equipment is sourced from Russia, forcing it into a tactical balancing act.Sen said the Indian government was on "the wrong side of history" over its response to the invasion of Ukraine but added that Modi's muscular nationalism prevented it from allowing "any narrative that indicates the folly of India's position on Russia." Alt News' Sinha said fact checks — and official denials from the foreign ministry — rarely reach as many people as the viral spread of misinformation."In reshaping the narrative, those spreading disinformation are winning," he said.

The spread of Ukraine misinformation on Indian Twitter has made its government's difficult position on Russia more bearable

Good morning! This is the tech news you need to know this Monday.<a href="http://newsletter.businessinsider.com/join/4np/10-things-in-tech&amp;hash=8122c716833601fc1471f79af063b104b104">Sign up here</a> to get this email in your inbox every morning.<ol><li><a href="https://www.businessinsider.com/twitter-8-accounts-data-downloaded-july-hack-2020-7">Twitter has said up to 8 accounts had all their data downloaded during its giant hack</a>. Twitter said in total 130 accounts were targeted of which 45 had their passwords reset and tweets sent by the hackers.</li><li><a href="https://www.businessinsider.com/og-twitter-hacker-forum-selling-accounts-ahead-of-giant-hack-2020-7">A hacker forum obsessed with super-short 'OG' handles was selling Twitter account access for $3,000 days before the giant hack</a>. Executives at two cybersecurity firms told Reuters Wednesday's hack didn't appear to be particularly sophisticated.</li><li><a href="https://www.businessinsider.com/uk-government-bans-meetings-smart-speakers-amazon-alexa-google-siri-2020-7">UK government officials have been warned not to take meetings with smart speakers in the room</a>. "I was effectively told to put mine in the bin," one civil servant told Business Insider. </li><li><a href="https://www.theguardian.com/technology/2020/jul/19/tiktok-halts-talks-on-london-headquarters-amid-uk-china-tensions">TikTok has abandoned plans for a UK headquarters, in part thanks to increasing UK-China tensions with China</a>. According to The Guardian, the UK's recent ban on Huawei 5G kit was seen as a factor.</li><li><a href="https://www.businessinsider.com/ftc-may-depose-zuckeberg-sandberg-in-facebook-antitrust-probe-wsj-2020-7">The FTC may depose Facebook bosses Mark Zuckerberg and Sheryl Sandberg in its antitrust investigation into Facebook</a>. The FTC is looking into whether Facebook has acted anti-competitively — and it may seek to speak to Facebook's top two executives.</li><li><a href="https://www.businessinsider.com/microsoft-retail-store-closures-employees-resign-2020-7?r=US&amp;IR=TIR=T">Microsoft is giving retail employees until July 26 to meet certain conditions to keep their jobs, find new roles, or resign, sources say</a>. With Microsoft closing its retail stores, the company announced plans to move store employees into remote support roles and said there would be no layoffs as a result of the decision.</li><li><a href="https://www.businessinsider.com/google-to-prevent-ads-on-coronavirus-conspiracy-theory-content-2020-7?r=US&amp;IR=TIR=T">Google will block ads from appearing on sites that spread coronavirus conspiracy theories</a>. Google will prohibit sites from running ads on "dangerous content" that goes against scientific consensus during the coronavirus pandemic.</li><li><a href="https://markets.businessinsider.com/news/stocks/netflix-slumps-earnings-miss-weak-subscriber-growth-forecast-2020-7-1029404606">Netflix shed $19 billion in market value on Friday with an earnings miss and disappointing subscriber-growth forecast</a>. The video-streaming giant's stock slumped as much as 8% even though it added 10 million subscribers last quarter.</li><li><a href="https://www.scmp.com/tech/big-tech/article/3092969/robotics-start-cloudminds-returns-china-after-us-sanctions-hurt-its">Cloud robotics and AI startup CloudMinds has ditched plans to go public in the US and has returned to China, as the trade war impacted its business, according to the South China Morning Post</a>. CloudMinds was founded by Chinese-born engineer Bill Huang.</li><li><a href="https://www.businessinsider.com/scientists-build-beetle-gopro-style-camera-mini-robots-2020-7">Scientists successfully put tiny GoPro-style wireless cameras on beetles, and it's paving the way for miniature robots</a>. Researcher Vikram Iyer told Business Insider the beetlecam is an important step forward for developing wireless camera technology.</li></ol>Have an Amazon Alexa device? Now you can hear <keyword id="9070519" type="UNKNOWN" weightage="60" keywordseo="10-things-in-tech">10 Things in Tech</keyword> each morning. Just search for "Business Insider" in your Alexa's flash briefing settings.

10 things in tech you need to know today

New Delhi, Dec 11 () US retail giant Walmart and Flipkart on Wednesday said they will jointly invest in Bengaluru-based business-to-business (B2B) supply chain company, Ninjacart.
The three partners aim to help ensure better access to high-quality fresh produce for retailers and consumers across India while also creating economic opportunities for farmers, a statement said. 
 The company however did not disclose the financial details of the transaction.
 "Partnering with Ninjacart will help Walmart and Flipkart strengthen direct sourcing of fresh produce for Walmart India's Best Price B2B cash-and-carry stores and Flipkart's online grocery business Supermart," it added. 
The investment will also support Ninjacart to expand its customer base, reach new cities and gain exposure to global best practice to enhance the efficiency of the local fresh produce ecosystem, the statement added.
 Ninjacart was founded by Thirukumaran Nagarajan, Kartheeswaran K K, Ashutosh Vikram, Sharath Loganathan and Vasudevan Chinnathambi in 2015.
In the past, Ninjacart has raised money from funds such as Tiger global, Accel partners, Steadview Capital, Syngenta Ventures, Qualcomm ventures and Infosys co-founder Nandan Nilekani. 
 Ninjacart connects farmers to retailers via a network of more than 200 collection centres and 1,200 warehouses across India. It moves over 1,400 tonnes of fresh produce per day.
It has over 44,000 farmer suppliers and a customer base of 60,000 kirana stores and restaurants across seven cities. 
"Developing Flipkart Supermart over the past year, we have focused on creating the right infrastructure, supporting local farmers, producers and food processors, and building sustainability into the ecosystem," Flipkart Group CEO Kalyan Krishnamurthy said. 
 Thirukumaran Nagarajan, CEO and Co-founder of Ninjacart, said with the support of Flipkart and Walmart, the company sees new possibilities to improve the lives of its farmers, retailers and restaurant partners.
The transaction is expected to close by the end of the month. 
 "Ninjacart's focus on direct-from-farm sourcing resonates well with Walmart's commitment to supporting farmers in India. We are working towards our commitment of sourcing 25 per cent of produce in our Best Price cash-and-carry stores directly from farmers by 2023," Walmart India President and CEO Krish Iyer said.
The investment, he said, will help accelerate market access for farmers and reduce transportation costs. SR DRR

Walmart, Flipkart invest in Bengaluru-based Ninjacart

<ul><li><keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> along with its parent <keyword id="80487" type="COMPANY" weightage="20" keywordseo="walmart">Walmart</keyword> have jointly invested an undisclosed amount in the fresh produce delivery startup <keyword id="2946840" type="PERSON" weightage="20" keywordseo="Ninjacart">Ninjacart</keyword>.</li><li>Ninjacart has the supply chain where it leverages leverages big data, predictive analytics, mobile applications and the Internet of Things to connect farmers with marketplaces. </li><li>Ninjacart has 200 collection centers and 1,200 warehouses across India, through which it moves over 1,400 tons of fresh produce per day. </li></ul>Indian e-commerce giant Flipkart along with its parent Walmart have jointly invested an undisclosed amount in the fresh produce delivery startup Ninjacart. Ninjacart has the supply chain where it leverages leverages big data, predictive analytics, mobile applications and the Internet of Things to connect farmers with marketplaces. The investment in this startup comes in line with Flipkart’s recent efforts to go hyperlocal in different segments. In May 2019, the e-commerce company had launched Flipkart Supermart which was its foray into delivering groceries. “It is in our DNA to drive change and solve complex local problems in-house through technology. Developing Flipkart Supermart over the past year, we have focused on creating the right infrastructure, supporting local farmers, producers and food processors, and building sustainability into the ecosystem, all while creating thousands of new jobs and bringing quality, convenience and value to consumers,” said Kalyan Krishnamurthy, CEO, Flipkart Group. 
	
 
 
 
 <div type="image" title="ninjacart" msid="72468929" hostid="261"></div>










 Ninjacart has 200 collection centers and 1,200 warehouses across India, through which it moves over 1,400 tons of fresh produce per day. The Bengaluru-based Ninjacart was founded in 2015 by Thirukumaran Nagarajan, Kartheeswaran K K, Ashutosh Vikram, Sharath Loganathan and Vasudevan Chinnathambi. “Ninjacart’s focus on direct-from-farm sourcing resonates well with Walmart’s commitment to supporting farmers in India. We are working towards our commitment of sourcing 25% of produce in our Best Price cash-and-carry stores directly from farmers by 2023. This would help accelerate market access for them and reduce transportation costs,” said Krish Iyer, President and CEO, Walmart India. Flipkart has been on an acquisition and investment spree as it closes 2019. It recently led the $60 million funding round in logistics platform Shadowfax. In November, Flipkart invested in EasyRewardz, a customer engagement and rewards platform. In March 2019, Flipkart launched an early stage startup fund. According to the company, the fund’s investments will focus on companies working in areas related to e-commerce, FinTech, payments and complementary spaces. See Also: <a href="https://www.businessinsider.in/business/ecommerce/news/amazon-and-flipkart-have-the-same-strategy-when-it-comes-to-wooing-indias-20-million-small-business-owners/articleshow/72394851.cms">Amazon and Flipkart have the same strategy when it comes to wooing India's 20 million small business owners</a> <a href="https://www.businessinsider.in/business/startups/news/flipkart-picks-up-stake-in-shadowfax-the-startup-which-will-help-it-go-hyperlocal/articleshow/72385539.cms">Flipkart picks up stake in Shadowfax the startup which will help it go hyperlocal</a>

Walmart and Flipkart invest in Ninjacart that has 1,200 warehouses for grocery delivery

<div class="KonaFilter image-container display-table"><div><div class="image"></div></div></div><ul class="summary-list"><li>Goldman Sachs announced its 2019 class of managing directors, with 465 new promotes getting the nod.</li><li>Of the 465 promoted, 29% are women, and 34% identified as an ethnic minority or LGBTQ.</li><li>The firm announces managing-director promotions every two years.</li><li>It's one of the most coveted positions on Wall Street, a step below partner at the premier investment bank.</li></ul><a href="http://markets.businessinsider.com/stock/GS-Quote"> Goldman Sachs</a> just announced a new class of 465 managing directors, and millennials comprised nearly two-thirds of it. The promotions, which are announced once every two years and are among the most coveted on Wall Street, put recipients one step <a href="https://www.businessinsider.com/goldman-ceo-solomon-offering-buyouts-to-partners-shrink-senior-ranks-2019-9">below partner</a> at the prestigious investment-banking firm.The 2019 class is smaller than the record-setting class of 509 in 2017, but larger than the class of 2015, which had 425 new MDs.It's also one the youngest classes the bank has promoted - 62% are millennials, up from 44% in 2017 and <a href="https://www.businessinsider.com/goldman-managing-director-list-2015-11">30% in 2015</a>.Other headline stats about the class:<ul><li>66% started their careers as analysts or associates at Goldman Sachs, equal with 2017.</li><li>29% of the class is women, up from 24% in 2017.</li><li>34% of the identified as an ethnic minority or LGBTQ: 26% are Asian, 4% are black, 2% are hispanic/Latino, and 2% are LGBTQ. </li></ul><h2>Here's the full list of all 465 new managing directors:</h2>Rashid Abdalla Angela Abramian-Katz Meredith Adams Keren Adan Vikas Agrawal Mike Ahern Edward Ainsworth Danny Akerman Temidayo Akinola Aaron Albert Eyas Aldossari Marsha Alexander Daniel Alger Asad Ali Brendan Ames Dipam Amin Rebecca Anderton-Davies Junnosuke Ando Ash Ang Timothy Arblaster Kenan Arkan Patrick Armstrong Cameron Arrington Cindy Au Anne-Victoire Auriault John Aurre Frederick Baba Andrew Bailey Tanya Baker Victoria Baker-Duly Venkatesh Balasubramanian Nick Baltas Maria Barron Baratech Luke Barrs Robert Bartlett Dennis Beeson Angus Bell Bob Bengtson Kerryann Benjamin Jeff Bernstein Adam Berry Michel Beshara Justin Betzen Praveen Bhagavathula Peter Biggs Ersen Bilgin Nathan Bird Simon Birtwistle Barnali Biswal Brittany Boals Moeller David Bodenstein Vanessa Bogaardt Kevin Boova Andrea Bora Said Boujnah Jeff Boyd Rachel Boyd Glyn Braganza Joyce Brayboy Pierre Brunet Keith Brunini Steven Budig Francisco Cabeza Kimberly Carabetta Sarah Card Marie Cardoen Gloria Carreno Jonathan Carter Osmar Castellani Junior Lucia Catalan Federico Ceresole Jeffrey Chao John Chappell Yogesh Chati Frank Chen Selina Chen Hakim Cherrouk Christopher Yiu Chung Cheung Tak Cheung Siddharth Chhabria Liz Chick James Chilcott Jon Child Naveen Choppara Leonard Chung George Cole Greg Collett James Colletti Kevin Conniff Simon Constant Charles Corke Krystal Cowan Ben Coward-Talbott Nerissa Cumberbatch Ryan Cunn Nadim Daban Brook Dane Abigail Darby Michael Daub Bill Davis Christopher Dawe Jeffrey Dawkins Adam Dawson Philipp de la Chevallerie Camille de Lamotte Frederik De Neree Joaquin de Soto Dan Deighton Manuel Deijk Stefanie D'Elia Lena Demashkieh Michael Dente Philippe Derimay Bradley Diener Michel Dimitri Angelo Diotisalvi Natalia Dobrinskaya John Doherty Matthew Doherty Jerome Dortmans Hamish Douglas Crista Downey Andre D'Souza Alexander Dupont Brett Durick Tsuyoshi Egawa Gaudenz Eichenberger Nnaemeka Eke Bill Elfsten Abel Elizalde Russell Elliott Scott Epperson Robert Fama Meriem Feghoul Xinyi Feng Roger Fenningdorf David Fernandez Morgan Fitzpatrick Ryan Flanagan John Flood Kellan Florio Kerry Flynn Jeremy Follett Anneliese Foster Fabrice Francois Marissa Freund Anders Furuhed Sebastien Gagnon Timothy Galligan Francesca Gardner Raj Garigipati Brian Garrett Douglas Gilman Aaron Goldman Jeremy Goldman Sanyam Goyal Ricky Grant Steven Gray Jules Gruner Shao Ping Guan Anushka Gupta Sonia Gupta Arvind Guruprasad Itir Guvenc Mungan Raymond Haagen Andrew Haave Sylvia Hadjimamas Terry Hagerty Sharon Hall Jeff Haller Scott Hankey Sara Hanlon Tom Haraldsson Alex Harman Lauren Havens Ken Hayahara James Hayward Tom Healy Victoria Hegan Michael Heller Paula Hendrickson Evan Herring Schuyler Heuer Daniel Hibbert Andrew Hine Megan Hogan Yoomin Hong John Hooton George Horton Dan Howard Christine Hu Katie Hyde Nicole Irvin Ahmed Ismail Kumar Iyer Philip Jacob Raphaelle Jacquemin Rajan Jain Rich James Marene Jennings Kyle Jessen Natasha Jhunjhunwala Brandon Johnson Geddes Johnson Milind Joshi Sojin Jung Amy Jupe Michael Kagan William Kallop Jordan Kaufman Charlotte Keenan Maxime Kennel Aron Kershner Ronald Keung Eugene Khafizov Feroz Khosla Kieron King Tom Knott Simon Knowles Sarah Kong Scott Konicki Robert Koslow Kunal Koya Elisabeth Kozack Joanna Kozlowski Kristin Kramer Jason Kreuziger Daniel Krinsky Kristin Kuney Casey Laflamme Beyrouthawit Lakew Mikael Lang Mark Langham Francesca Lau Karmen Lau Victoria Ledda Adrian Lee Sara Lee Niall Leguillon Chip Lemkau Marie Claire Lennon Matthew Leskowitz Ryan Lester Curtis Leung Jacky Leung Giulia Lewandowski Christian Lhert Aihua Liang Chi-Yu Liang Mony Lim Nyan Lin Tobias Lindemann Jon Lindgren Ada Liu Adrian Loh Syida Long Lorenzo Pasquale Longo Alexandre Lucas Michelle Luk Amanda Lynam Chris Lyon Srivats Madhavan Alok Madhukar Devasish Majumdar Salome Makharadze Shun Manabe James Mann Todd Mansfield Corey Maple Ivan Martinez Farzad Mashayekhi Morad Masjedi Michael Mastropaolo Moe Matar Colin Mathews Ritesh Mathur Brooke Mayne Jordan McCallum Mark McCaskill Catherine McCormack Paul McGregor Andrew McLennan Brian McMahon Nehal Mehra Ramiro Menchaca Mark Midle Giuseppe Milicia Kristin Milot Yusuke Minowa Aric Mizrahi Sherry-Ann Mohan Stacy Mohr Mohammed Mohsinali Helen Moloney Matthew Mottram Richard Mulley Ken Murata Sarah Murray Usman Naeem Soumik Nandy Satish Narang Vijay Narayanan Jamil Nathoo Joseph Natoli Sean Navin Aziz Ndiaye Ryan Newman Sara Nielsen Eyal Nirenberg Quinn O'Bryen Joanna Obstoj Jackie O'Connor Nonso Ogbonna Laide Oginni Mari Oishi Scarlett Omar-Broca Enrico Orlandi Jean Otrakji Edouard Panie Francesco Papa Pratik Pareek Gemma Parrott Atul Pawar Arnaud Payement Yuriy Podoshev Mitesh Popat Matthew Popper Arnaud Porchet Nicole Poulson Joseph Pozzi Anant Prasad Frederic Pripp Chaitra Purushotham Benny Quek Conor Quinn Thomas Radberg Stephanie Raimo Kamal Ramnani Michael Rand Olivia Rascoe Jibraan Rasheed Varun Rastogi Seth Reagen Nikhil Reddy Adil Rehman Elaine Rene Salveen Richter Fabian Riedel Helen Rigley Joe Ritchie Ilan Rochman David Rockliff Pearl Rodrigues Mark Romanczuk Mairin Rooney Delia Rosoga Ranjith Roy Mark Ruffles Benjamin Runnacles Ashley Ryan Eric Ryckman Takeshi Saito Sushil Sancheti Neha Santiago Vijay Saraswat James Sarvis Christian Schaefer Heather Schuyler Katelyn Seager Gowri Sekar Chris Semones Vikram Sethi Hui Shan Adi Sharma Praharsh Sharma Nicole Sharp Inna Shaykevich Jenna Shen David Shih Michael Shin Aekloveya Shyam Haris Siddiqi Adam Siegler John Sienkiewicz Craig Singer Peter Smith Brian Snyder Tejas Sodha Doug Spencer Mark Spitzer Anushree Srivastava Christian Stassen Holger Staude Emily Stecher Becky Steinthal Samuel Su Vivek Sukhatme Danny Suwanapruti Andy Tai Stephanie Tan Kei Tanaka Jacky Tang Hekmat Tannous Michael Tarulli Luigi Tavella Archana Tayade Emma Taylor Lori Taylor Asher Teren Gurtaran Thethi Jonathan Thomas Neil Thomas Bryn Thompson-Clarke Todor Todorov Steven Torbeck Sidney Tordjman Stephen Tripi Clemens Tripp Michael Trokoudes Jason Tsang Christian Tschirdewahn Candice Tse Vicki Tung Mateo Ugas Alekhya Uppalapati Rucha Vaidya Steven Valentic Peter VanDeventer Kyle VanFleet Alexandre Virolle Christopher Volmut Neel Vora Danielle Walsh Jordan Walter Bingwen Wang Phyllis Wang Zac Wang Brandon Watkins James Weaver Deborah Wei* Steven Weiss Robert Whelan Andrew White Anna Whitlow Eva Maria Wiecko Liz Wilcockson Lennart Wilhelm Rob Williams Henry Willoughby Jim Wiltshire Maggie Wojcik William Wolcott Jean Xu Xiao-ou Kevin Xu Susan Yan Julien Yoo Wael Younan Laura Young Nick Young Ali Zaidi Kirill Zavodov Thilo Zeidler James Zhang Wanjing Zhang Yun Zhang <a href="https://www.businessinsider.com/intelligence/10-up-and-coming-fintechs-2019?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_leadgen&amp;itm_content=finance&amp;itm_campaign=10-up-and-coming-fintechs-2019-2"></a>

Goldman Sachs' new managing-director list is out, and millennials dominated the class

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">REUTERS/Natalie Behring</div></div></div>Goldman Sachs has promoted 425 people to managing director."Our new Managing Directors represent the best of our firm's dedication to excellence, leadership and client service, and we wish them continued success in their careers," Goldman CEO Lloyd Blankfein said in a statement.It's a big deal to be named a managing director. The title is just one step below "partner," which is one of the most highly-coveted titles in investment banking. The next class of MDs won't be selected until 2017. In 2013, <a href="http://www.businessinsider.com/goldman-managing-director-selection-2013-3">Goldman changed its managing director selection process</a> from every year to every two years. That year, <a href="http://www.businessinsider.com/goldman-managing-director-class-2013-11">280 people</a> made the cut.The following individuals have been promoted:Catherine Addona-Peña Alokik Advani Sam Agnew Daniel Ahern Murtaza Ahmed Fusae Akamatsu Phil Almond Ana Alonso Roy Appelman Juliano Arruda Alex Ashwal Daniel Avery Misty Bailey Tom Barkes Jose Barreto Sushil Bathija Gregoire Baudot Olivier Belaich Sharon Bell Allison Beller Christine Benson Schwartzstein Sam Berberian Todd Berger Sandy Bernhardt Greg Berube Shashi Bhushan (Bengaluru) Lyla Bibi Julie Billings Alexander Blanchard Tristan Blood Katherine Bloom Alexander Blostein John Blythe Andrea Bonini Vijay Borkar Jean-Pierre Boudrias Dyson Bowditch Rhett Brewer Sean Brewer Cameron Brien Tyler Brooke Marios Broustas Melissa Brown Jacob Buitelaar Jason Burgess Manuel Camacho Tim Campbell Eliot Camplisson Susana Cao Miranda Nicholas Chan Sorubh Chandani Amy Chang Dennis Chang Scott Chastain Scott Chen (IBD) Yu Chikami Vikram Chima Sung Cho Caroline Chu Simon Clarke Ray Clifford Jorge Combe William Connolly Ron Cortina Daniela Costa Yasmine Coupal Patricia Creedon Brian Culang Michelle Daly Ranga Dattatreya Christopher Daur Brian DeCenzo Alexis Deladerriere Robert Devens Devanshu Dhyani Scott Dias Johanna Diaz Simon Dickinson Andrew DiMaria Darren Dixon Terence Donnelly Christopher Droege Lindsay Drucker Mann Frank Drury Caroline Dunne Steven Edwards (Internal Audit) Jeffrey Egee Naoko Ehara Inna Elyashkevich Jason English Andrew Erekson Joris Esch Ana Estrada Cristina Estrada Owain Evans Julia Feldman Jing Feng Albert Ferng Val Feygin Dan Fishman Dennis Fleck Terence Flynn Ian Foster (IBD) Kelly Galanis Ilya Gaysinskiy Libardo Gerardino Said Ghusayni Michael Gillott Arvind Giridhar Mark Glotfelty Chloe Goddard Lakshya Goel Peter Goertzen Andres Gonzalez Clara Gonzalez-Martin Claire Goodeve Anton Gorshkov Simon Gosling Jessica Binder Graham Michael Graham (Securities) Glenn Greilsamer Fabrizio Grena Alain Griveau Pierre-Yves Guerber Renaud Guidée Renu Gupta Christoph Haenschel Simon Hale Jay Handfield Deirdre Harding Nada Hassan Frances Hawkins Tobias Heilmaier Christoph Heuer Kenneth Ho Luke Hodges Jennie Holloway Matthew Hostasa Henry Howell Soomin Hu Victor Hu Andrew Huang Lee Hughes Michael Hui Shinichiro Ichiki George Ingram Francesca Innocenti Karen Ip Yuichiro Isayama Shubha Iyer Kristy Jago Matt Jahansouz Lear Janiv Jessica Janowitz Franklin Jarman Jabe Jerram Lei Jin Moritz Jobke Charles Johnston Ganesh Jois Katherine Jollon Colsher John Jonke Shrut Kalra Emiko Kamoda Markus Kant Yugandhar Karna Lotfi Karoui Vanya Kasanof Ting Ke Kyle Kendall Richard Kendrick Corey Kenyon Anthony Kim Seong Eun Kim Sean Kingston Teresa Kingswood David Kirschner Michael Klym Jared Klyman Andrew Knight Timur Kocaoglu Kevin Kochar Christina Kopec David Korpi Caroline Kraus Jennifer Krevitt Ajay Kumar Raj Kumar Kosuke Kurosawa Marc Kurz Takashi Kuwano Loredana La Pace Phil Labbe Marco Laicini Vidya Lakshmi Lia Larson Kinger Lau Max Layton Jerome Lebuchoux Andrew Lee (GIR) David Lee (IMD) Jay Hyun Lee (MBD) Jerry Lee Shane Lee Valerie Leeder Panayiotis Lemonidis Joe Lenehan Daniel Levy Yael Levy Olga Lewis Christina Sun Li Chuan Li James Li Edmund Lim Stephen Little David Liu Daniel Lochner Michael Loetzsch Donald Lu Rochelle Lucas Matthias Ludemann Christopher Lvoff Andrew Lyons Kristen Macleod Manju Madhavan Lynn Magnus Thomas Malafronte Sajith Maliakel Rakesh Manani Elizabeth Mann Jim Mannoia John Manzi Jia Mao Guillaume Marinacce Jeremie Marrache Matthew Mason Gaurav Mathur Yuji Matsumoto Tom McAndrew Scott McHugh Andrew McIlroy Jenny Meng Shahmil Merchant Joann Mercurio Maryline Mertz Marco Messeri Hideo Michiba Jared Miller Stacey Miller Elizabeth Milonopoulos Pascal Mischler Pooja Mishra Prahlad Doretta Mistras Matthew Mizrahi Hillel Moerman Soren Moller-Rasmussen Fausto Monacelli Q Montazeri Leonie Morel Owen Morris Daniel Motta Ricardo Mourao Christian Mueller-Glissmann Niladri Mukhopadhyay Mathieu Munuera Francis Murphy Thomas Murray Charles Myers Harsh Nanda Asad Naqvi Ryan Nash David Naulty Toh Ne Win Shapour Neshatfar Billy Newport Anya Newton Katrina Niehaus Christos Nifadopoulos Ryan Nolan Brian Nordahl Steven Nowak Matthew O'Callaghan John Olivo Oscar Ostlund Marco Paesotto Kanak Palanisamy Sundaram Pandiarajan Mrudang Pandya Francesco Paolicelli Dhaval Parekh Keyur Parekh Akash Patel Himin Patel Jatin Patel Cristina Patron Nicholas Peach Agostina Pechi Xi Pei Shlomit Perry Joseph Persky Carlos Prieto Ricardo Puggina Tim Quandt Stephanie Rader Emilie Railhac Amit Raje Sudarshan Ramakrishnan Akila Raman Vishaal Rana Robert Rancitelli Zeeshan Razzaqui Paolo Re David Reis Kevin Relihan Ben Reuter Matt Rhodes Clare Richards Brian Richardson Richard Rivero Duane Robinson Fabiano Romeiro Agustin Romo Calvo Karen Rossi Matias Rotella Anne Russ C. Kyle Russ Jamie Russell Isidoor Rutten Timothy Ryan Craig Sabal Carolyn Sabat Michael Sachs Hassan Salamony Nicholas Saunders Carly Scales Marc Schaffer Tom Schouwenaars Jameson Schriber Leonard Seevers Masataka Sera Arpan Shah (Internal Audit) Dhruv Shah Nitin Shah Ashoke Sharma Nik Sharma Salil Sheth Jonathan Shugar Aaron Siegel Eric Siegel Julie Silverman Jim Sinclair Balaji Sivasubramanian Neil Slee Martin Smith (IMD) Scott Smith Lin Smyth Douglas Spell David Sprake Jack Springate Sujatha Srinivasan Ricardo Stabile John Startin John Stecher Alexander Stiles Peter Stone Miruna Stratan Matthew Straughen Hiroyuki Sugiura Joseph Sumberg Philip Sun Lawrence Tankel Richard Tarling Ian Taylor Mike Taylor (Services) Sophie Taylor Latifa Tefridj-Gaillard Kurt Tenenbaum Prasanna Thati Radha Tilton Vincent Tiseo Jandirk tom Dieck Margo Topman Shinsaku Toriyama Dom Totino Joseph Traina Matthew Traina Alexis Tsang Tetsuya Ukai Silvia Valente Laura van Alkemade Carol Van der Vorst Alexis Vassilakas Kerone Vatel Thomas Vaughan Meriel Vessey Alexandra Vincenzi David Wade Dennis Walsh Alex Wang Jun Wang Moon Wang Katherine Ward Amy Watson Peter Watson Whitney Watson Gregory Watts Jie Wei Michael Weiss Miriam Wheeler Pete Williams Wes Williams Jiahong Wu Tony Xu Michael Yaeger Satoshi Yamagata Huan Yang Jonathan Yarrow Sylvia Yeh Vincent Yeung Derek Yi Jon Yoder Jaewon Yu Brendan Zeigon Daniel Zimmerman Martin Zoll <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/seaworld-end-killer-whale-show-san-diego-blackfish-2015-11">SeaWorld is ending its killer whale show after being criticized for how it treats them</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="VjdnBxeDr7ABHNOUF_pwCshHV8m9AMwX" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

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