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Start-Up 21-11-01

Meesho announced a $5.5 million ESOPs repurchase

01 November 2021, Mumbai:

Meesho, an internet commerce platform, has announced a $5.5 million ESOP liquidity programme for all vested current and past workers. In less than a year, the business has launched its second liquidity programme.

Meesho secured $570 million in Series F funding last month from Fidelity Management & Research Company, B Capital Group, and other new and current investors like Prosus Ventures, SoftBank Vision Fund 2, and Facebook, bringing its total valuation to $4.9 billion.

"We continue to witness stratospheric success not just as a business but also in our efforts to democratise online commerce for everyone," stated Vidit Aatrey, Founder & CEO of Meesho, in response to the announcement.

We want to provide abundant opportunities for our workers to celebrate and develop alongside us since they have been at the forefront of generating this momentum.

ESOPs will provide employees high ownership while creating greater potential for wealth creation as we hire across the board and grow our tech and product skills by 2.5X."

The firm has experienced a 2.8X increase in monthly transacting users and a 2.5X increase in monthly orders in the previous six months. By December 2022, the firm wants to achieve 100 million transacting customers, expand its product catalogue to over 50 million items, and expand into India's underserved markets, becoming the preferred e-commerce destination for the country's next billion consumers.

Flipkart ESOP Repurchase Plan: Buyback To Take Place At $85.2 Per Unit

TOP 5:

1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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Start-Up 21-11-01

Meesho announced a $5.5 million ESOPs repurchase

Kedaara Capital invests $75 million in Purplle

01 November 2021, Mumbai:

The new money will be used to expand the firm as well as make investments in other beauty tech companies. According to co-founders Manish Taneja and Suyash Katyayani, the money will be utilised to improve the company's technological skills and hire personnel.

It will also be used to launch new goods and brands, as well as to invest in fresh acquisitions of firms that provide distinctive beauty services, according to the company. "Kedaara's consumer and technological experience will help us in our next phase of growth," Taneja added.

According to Sunish Sharma, co-chief executive officer and managing partner at Kedaara, and Anant Gupta, managing director at Kedaara, the firm has exhibited market growth and established a platform based on the idea of democratising beauty and personal care across India.

"They provide a unique value proposition and a great client experience, and they will have strong tailwinds for a long time." "We're ecstatic about our new investment in consumer technology," they remarked.

Essence wins integrated media AOR for Purplle - Exchange4media

TOP 5:

1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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Start-Up 21-11-01

Kedaara Capital invests $75 million in Purplle

FSN E-Commerce Ventures to launch IPO worth Rs 5,200 crore

23rd October 2021, Mumbai:

Through its initial public offering (IPO) closing on November 01, 2021, FSN E-Commerce Ventures, the owner of Nykaa, plans to raise Rs 5,200 crore in investments. The IPO will open on 28 October for the subscription.

The company has increased fresh issue to Rs 630 crore from Rs 525 crore. The offer for sale has been reduced to 41.97 million shares from 43.11 million shares. The firm plans to list on 11 November.

Nykaa will invest Rs 35 crore from the issue in its arms FSN Brands or Nykaa Fashions for funding the establishment of new retail stores. It will invest another Rs 35 crore and Rs 130 crore in capital expenditure and repayment of debt. Nykaa will also use Rs 200 crore to enhance the visibility and awareness of its brands.

Founded in 2012 by investment banker Falguni Nayar, Nykaa is a leading player in the online beauty aggregator segment. The firm is a digitally native consumer technology platform, delivering a content-led, lifestyle retail experience to consumers. It has a diverse portfolio of beauty, personal care, and fashion products, including brand products manufactured by it.

FSN E-commerce Ventures lead Nykaa.com looks for 100 cr funds to expand private label

TOP 5:

1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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Start-Up 21-10-23

FSN E-Commerce Ventures to launch IPO worth Rs 5,200 crore

Start-up in India Fashinza announces a Middle East growth plan

05 October 2021, Mumbai:

Fashinza is expanding its reach in the UAE after opening an office in New York earlier this year, with the objective of making cloud sourcing simple and seamless for fashion businesses. Fashinza, a clothing brand, has revealed its worldwide development plan for the Middle East in order to improve its competitive position in the Gulf nations.

Fashinza's team has identified many prospective high-growth areas, and they intend to expand their leadership teams in the Gulf nations to 15-20 people. The firm opened an office in New York City earlier this year.

Fashinza announced intentions to attack the Gulf Cooperation Council (GCC) markets, with an emphasis on the United Arab Emirates, to address some of the most difficult garment supply chain issues ever. With the aid of their unique digitized supply chain, Fashinza's platform will enable fashion companies to interact directly with manufacturers in a transparent manner.

The company's recent Series-A VC financing of US $ 20 million was shortly followed by the expansion announcement. The firm claims to collaborate with fashion companies from 10+ countries, including Forever21, Ajio, Noon.com, Amaro, Clovia, Apparel Group, and Bewakoof.com.

Its list now comprises over 400 ethical production facilities spanning India, Bangladesh, China, Vietnam, and Sri Lanka.

“We aim to open up sourcing access for companies of all sizes in the Middle East countries,” said Pawan Gupta, the company's co-founder, and CEO. This is the first time in the industry that a cloud-based supply chain and product creation platform is available.

We aim to make it simpler for fashion designers and businesses to breathe, which means a future where garment production is smarter, easier, and more sustainable. We intend to make low-cost, low-minimum-order-quantities sustainable products available to brands.

We also intend to provide other key advantages, such as a speedier sample clearance process, an average manufacturing cycle of 8 weeks, and four times faster supplier matching and pricing.”

Fashinza assists apparel businesses with everything from design to production to quality control and delivery, taking full responsibility for the whole process.

The technology enables businesses to watch the daily status of their orders on an AI-driven dashboard, complete with real-time information from the factory floor, obviating the need for a hundred phone calls and e-mails for follow-ups.

It also aids brands in reducing waste and inventory forecasting mistakes, as well as allowing for speedy replenishment of bestsellers with a short turnaround time.

Here's how to achieve growth in the Middle East and North Africa | World Economic Forum

TOP 5:

1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

Return to homepage

Start-Up 21-10-06

Start-up in India Fashinza announces a Middle East growth plan

Alia Bhatt’s kidswear brand, Ed-a-Mamma’s in 'Series A round' values Co. at Rs. 150 crore

30th October 2021, Mumbai:

The D2C startup Ed-a-Mamma founded by actor and investor Alia Bhatt has pupil dilating valuation as supposedly it has grown 10x in as many months. The brand consciously unveils an organic/ natural and sustainably fashionable Autumn Winter 2021 collection.

So far so good it's still a bootstrapped business initiative. Given the credentials, the brand has been consistently ranking as one of the top 3 brands on Myntra, in its given kidswear category, & that too only within 3 months of launch on the platform.

Bhatt’s Ed-a-Mamma has also hit the ground running by having set a basic distribution funnel by being placed in the top 6 digital marketplaces and is successfully retailing on the brand’s website as we continue to recover from pandemics.

Thus given its growth and column metrics the investors in a Series A round has apparently valued the company at Rs 150 crore ($20 million) or thereabouts which is something no less than good news to this trade segment per se as in new industry benchmark and trending in the Indian kidswear segment.

TOP 5:

1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

Return to homepage

Start-Up 21-10-30

Start-up in India ReshaMandi has announced a $30 million Series A financing round

13th October 2021, Mumbai:

The first silk-tech start-up in India ReshaMandi has raised $30 million in a Series A round headed by global alternative investment firm Creation Investments and other investors.

In India, ReshaMandi is a B2B platform for silk producers, companies, and merchants. There was a combination of equity and debt in this round.

New investors in the equity round include 9 Unicorns, Venture Catalysts, Nexus' Sandeep Singhal, IndiaMART's Brijesh Agarwal, and Omnivore, which earlier led ReshaMandi's seed round. ReshaMandi, which launched in May 2020, is a full-stack digital ecosystem that spans the farm to the runway.

Mayank Tiwari, a Niftian, Saurabh Agarwal, a former Cisco Systems scientist and entrepreneur, and Utkarsh Apoorva, a serial technology entrepreneur from IIT Delhi, founded the firm, which claims to have had a 30X growth in sales in its first year.

"This round of investment will enable us to grow into other regions and operationalize our R&D work, while also allowing more stakeholders to benefit from our innovations and efficiency," stated Mayank Tiwari, ReshaMandi's CEO.

ReshaMandi's unique AI and IoT technology is delivering transparent and affordable solutions to India's finer textiles challenges, while also working directly with farmers to simplify the silk business and utilising the ReshaMandi app, which is specifically tailored for farmer productivity.

With this new round of funding, the company hopes to enhance its position in the supply chain even further.

Its goal is to create a zero-waste circular economy that will benefit all stakeholders in the silk supply chain on social, environmental, and economic levels.

"Shortly after this round, a whole new variety of saris and other fashion wear will be accessible in Tier-2 towns in India where we are developing," said Utkarsh Apoorva, ReshaMandi's Co-founder and CBO. With a design variety and pricing ranges never seen before, our supply network guarantees that silk becomes cheap and accessible to middle-class homes across the country.

The way individuals in Tier-2 shop for silk garments will alter as a result of this."

In the first 15 months of its operations, ReshaMandi has boarded over 35,000 small companies, including farmers, SME manufacturers, and merchants, affecting over US $ 1.5 billion in market value.

Its procedures have resulted in a 35-55 percent rise in small company income and a significant increase in the usage of indigenous raw silk.

How Series A, B, & C Funding Works for Your Startup

TOP 5:

1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

Return to homepage

Start-Up 21-10-13

Start-up in India ReshaMandi has announced a $30 million Series A financing round

As migrant workers return to work, Tiruppur units buzz with industrial activity

Worth over $2.4 trillion global apparel industry, in India the industry employs millions of workers. However, the industry is plagued by various labor rights issues further exacerbated by the pandemic. COVID-19 has impacted India’s garment exports leading to order cancellations, inventory buildups and slower realization of export receivables. It has also affected domestic consumption as new store openings have stopped while existing ones are facing an inventory build-up.

Apparel prices in the domestic market are being impacted as exporters continue to dump their inventory in the domestic market. This is also leading to reduced engagement of casual labor, factory closures and subsequent return of workers to their native places.

Factory closures lead to rising unemployment

Several workplaces across the country are closing down owing to public health concerns and social distancing measures. This has left millions of garment workers jobless. Garment factories in Tiruppur had shut down even before the lockdown as orders from western countries were being cancelled. Two nearby villages – Allapuram and Mannapalayam – suffered the most as all employment in both villages ceased completely.

Garment factories in Bengaluru, Karnataka are suffering due to rising labor protests. In the first week of September, workers employed Shahi Exports’ Unit 8 in Bengaluru refused to enter factory premises as the management had refused to provide transportation services. Most workers employed in the factory cannot afford travelling expenses. Factory management decided to discuss matters with union representatives of Karnataka Garment Workers Union (KGWU) and find an amicable solution.

Promote labor rights

Indeed, it is high time the industry helps garment producers organize themselves within cooperatives. This would enable them to not only access finance and technologies but also facilitates sharing of best practices, boosts productivity and profits, and reduces poverty.

The industry needs to make more efforts towards promoting labor rights and social security, improving health and sanitation, and promoting adequate standards of living. Government intervention in the form of financial assistance, and developmental and welfare schemes can also boost the sector’s growth.

The prevailing crisis has amply manifested the plight of garment workers. In such a situation, the government needs to initiate measures to protect their livelihoods by making various supportive arrangements. The government should ensure maintenance of minimum labor standards in factories. It should trace supply chains in detail and initiate measures to mitigate the exploitation of garment laborers.

Start-Up 20-09-21

As migrant workers return to work, Tiruppur units buzz with industrial activity

Nykaa (India) is planning an initial public offering (IPO) with a valuation of $4.5 billion

29th October 2021, Mumbai:

(IPO) The initial share sale of Nykaa owning 'FSN E-Commerce Ventures Ltd' got fully subscribed DAY1 itself, while there are still two more big days to go in this first three-day offering that schedules to close on 1 November 2021.

As things stand the overall book which excluding the anchor investor allotment, is already got subscribed 1.56 x. Whilst as per the construct of 'IPO' the non-institutional category constituted of high net worth individuals (HNWI) drew 0.60 x the shares allocated to this given category.

To be informed that," The IPO offer size is been tweaked by a reduction to 2.64 crore equity shares against over 4.75 crore equity shares post the development of start-up has raised Rs 2,396 crore earlier from its anchor investors dated October 27 only.

As per nuances gathered the 'Qualified institutional buyers' have bought 1.39x of its designated allocated %age quota

Nykaa's an online digitally native beauty e-commerce platform start-up having made a strong consumer brand within a brief period of its history; The initial public offering (IPO) is to close on November 1. And its share construct is'" I have fixed a price band at Rs 1,085-1,125/ share.

Importantly Nykaa envisages garnering Rs 5,350 crore by going public at this time of the year when the stock frenzy is arguably at its very best.

Charges associated with IPO financing - PLblog