Funding Frenzy Unfolds
Several Indian startups are experiencing a financial boost. WeKan aims to incubate and fund 20 startups, Avataar.me secured $7 million from Sequoia India,
and Pepper Content raised $4.2 million led by Lightspeed India. Razorpay's round, featuring GIC and Sequoia, could reach a $1 billion valuation. FreshToHome is in talks for a $130 million funding round, while Flipkart and Walmart delivered $30 million more to Ninjacart.
E-commerce Evolution
The e-commerce landscape is seeing significant shifts. Tata Group is evaluating M&A opportunities to scale up its e-commerce play. Online brands are witnessing higher growth on their own channels and apps compared to platforms like Flipkart and Amazon. With early Diwali approaching, e-commerce platforms are offering deals. Flipkart and Amazon staff are also preparing for the sale days, despite the ongoing situation.
Tech & Gadget Updates
India is witnessing new product launches and tech advancements. The Amazfit Bip S Lite is set to launch in India on July 29, with the Verge Lite relaunched at Rs 4,999. Corning launched Gorilla Glass Victus, while the OnePlus Nord was launched at Rs 24,999 and will be available from August 4. Google Duo, Messages, and Phone apps will be pre-installed on the OnePlus Nord.
Other Noteworthy News
Meru Cabs has launched an office commute service. Gmail introduced new work tools for corporate customers. Food delivery volumes have returned to pre-Covid-19 peaks, as mentioned by Zomato's Deepinder Goyal. Investors are steering clear of young startups with Chinese capital.
