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Start-Up 02-02-2022

Styched: D2C startup drives tech to address fast-fashion pain points

Myntra Beauty launches French natural skincare brand, Caudalie, on its platform

29 January 2022, Mumbai:

E-commerce platform Myntra announces the launch of ‘Caudalie’, one of the leading global skincare brands from France.

Founded in 1995, Caudalie creates ultra-effective, clean and chic cosmetics and is one of the world’s foremost anti-aging and anti-dark spot brands, with a strong presence in 45 countries.

Myntra to offer a dedicated brand store for Caudalie on the Myntra-Mall - an in-app mall to enable fashion brands to showcase their offerings.

Success Story of Myntra - The Most Famous Name in the Indian Online Fashion Industry

Speaking on the launch, Sharon Pais, Chief Business Officer, Myntra said, “We are excited to announce the launch of Caudalie on Myntra Beauty.

This association will substantially strengthen our international brands portfolio as well as the growing beauty and skincare segment on the platform."

Myntra continues to have the largest collection of international brands and styles, with the addition of Caudalie.

It currently houses 850+ brands and 38,000 products under Myntra Beauty.

STATISTICS CREDITS: APN News

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Start-Up 29-01-2022

Indiamart Intermesh’s Q3 results reported

27 January 2022, Mumbai:

The third quarter consolidated net profit of B2B e-commerce firm Indiamart Intermesh declined 12 per cent to Rs 70 crore ($9.5 million) as to a net profit of Rs 80 crore it posted in the year-ago period.

The company’s revenue for the quarter dropped by 8 percent to Rs 188 crore, as against Rs 174 crore it reported in the corresponding period of the previous fiscal year.

Dinesh Agarwal, CEO says, there has been growth in customers and deferred revenue with healthy margins and cash flows during the quarter.

The Founder & CEO of IndiaMART – Dinesh Agarwal | IndiaMART | IndiaMART

Growing internet adoption strengthens our value proposition of helping businesses transform themselves to do business online. The company will continue to invest in its employees and product offerings that create long-term value for its shareholders,” he adds.

Indiamart helps companies explore the digital way of doing business and enables them with an alternate sales channel to reach high intent buyers easily.

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Start-Up 27-01-2022

Indiamart Intermesh’s Q3 results reported

Cloud Tailor to expand personalized 'fashion fulfillment centres network'

22 January 2022, Mumbai:

A direct-to-consumer platform Cloud Tailor plans to expand its personalized fashion fulfillment centres across eight Indian cities besides growing its technology team and marketplace business models.

Cloud Tailor will expand across Hyderabad, Bengaluru, Delhi NCR, Kolkata, Pune, Chennai, Patna, and Mumbai with an investment of Rs 7 crore. As per a Fashion Network report, it has raised these funds from 35North Ventures and MergerDomo.

The project will disrupt the D2C fashion space through technology and cultivating consumer relationships across the globe with those seeking quality. The partnership will make Cloud Tailor a D2C brand to reckon with in the personalized fashon sector, says Ashwani Singh, 35North Ventures.

Founded in December 2020, Cloud Tailor is the brainchild of Hyderabad-based wife-and-husband duo, Susmitha and RudraPratap. Cloud Tailor claims that it will be operational across 20 cities in the coming two quarters.

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Start-Up 22-01-2022

Cloud Tailor to expand personalized 'fashion fulfillment centres network'

Neeman, D2C Footwear delights customers via Sustainable Merino Wool Shoes

28 January 2022, Mumbai:

The eco-conscious company has introduced men’s shoes collection comprising of lightweight joggers, classic sneakers, and elegant loafers.

Merino Wool

Our Uppers are made of Merino Wool, a naturally accuring fibre made from the fleece of Merino sheep from Australia. They are supper thin (about 20% of the thickness of the human hair), light and flexible adding a number of unique features to Neeman’s Shoes.

About Brand

Brand Journey

Neeman's was created out of the desire not just to break the mold but to obliterate it: to say goodbye to the average for good and opt for sustainable footwear over synthetic fibre.

Crafting change As we are becoming more aware and concerned about eating right and thus moving from preservative to fresh, from antibiotics to organic and from injected to farm-raised food, it's time to start thinking about what goes in the footwear differently.

It's time to choose Neeman's footwear that constructs shoes made for you and the environment.

CREDITS: NEEMANS

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Start-Up 29-01-2022

Shopclues to focus on 'smaller cities' to fuel growth

25 January 2022, Mumbai:

Having has completed 10 years, the leading online marketplace plans to focus on Tier II, III, III and IV cities and beyond to further fuel growth in the country.

As a part of its 10th anniversary celebrations, the company recently announced new sale event ‘10 Ka Dum’ from January 21-27, 2022 offering mega discounts of up to 90 per cent.

Shopclues has served millions of customers across India over the last 10 years. It currently has 45 million monthly average users.

In the years to come, Shopclues plans to continue focusing on Tier II, III, IV and other smaller and promote the principle of open market, place, says Anurag Gambhir, Head-Marketplace, Shopclues.

The Gurugram-based e-commerce company currently sells goods across fashion, home decor covering over 31,500 pin codes across the country.

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Start-Up 25-01-2022

Shopclues to focus on 'smaller cities' to fuel growth

Nasscom: Indian Startup ecosystem is now Atmanirbhar

23 January 2022, Mumbai:

IPOs and unicorns have created a fly wheel effect in the Indian tech startup ecosystem That's the message from a report by Nasscom and consultancy firm Zinnov released on Friday.

Zinnov CEO Pari Natarajan said the tech starnap IPOs (there was a recard 11 last year) and the unicornstarecord 42 were created last year) have generated enormous funds, which these companies are in turn Investing in other tech startups and using to buy products that these new age digital ventures are creating.

Profile

KEY HIGHLIGHTS

25000-26000 Tech startups in India today
3000+ deep tech startups
6.6 Lakh employees
2,250+ tech startups founded in 2021

The IPOs and venture funding are also, he said. creating wealth in the hands of individuals who are using that to provide seed funding to newer tech ventures.

Credits: TOI dt 22-01-2022

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Start-Up 22-01-2022

Nasscom: Indian Startup ecosystem is now Atmanirbhar

Lenskart, omni-channel eyewear retailer set to open multiple stores by 2022-end

28 January 2022, Mumbai:

Besides reaching the 1,000 stores milestone in February 2022, omni-channel eyewear retailer Lenskart plans to open 400 more stores across India by 2022-end.

It opened 73 stores across 46 cities in 19 states on the Republic Day this year.

The 73 stores were launched in: Tamil Nadu, Karnataka, Telangana, Kerala, Bihar, Assam, West Bengal, Himachal Pradesh, Jammu & Kashmir, Gujarat, Chhattisgarh, and Punjab, etc.

Lenskart plans to hire over 2,000 people across functions by 2022 - The Economic Times

Sunil Menon, Chief Retail Expansion Officer says, people residing in Tier II and III towns prefer the experience of a retail store in addition to using online e-commerce like their Tier I counterparts.

Lenskart is keen to service Tier II and III markets through its franchise network expansion, increasing access to eye check-up services where it matters the most.

Lenskart's vision has little room for partners - The Economic Times

With a rapidly growing business reaching out to over 100,000 customers a month via a unique combination of a strong online business as www.lenskart.com, uniquely designed physical stores, as well as a first of its kind 'home eye check up' service, Lenskart is revolutionizing the eyewear industry in India.

Founded in 2010, Lenskart is India's fastest-growing eyewear business today.

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Start-Up 28-01-2022

Lenskart, omni-channel eyewear retailer set to open multiple stores by 2022-end

Good Glamm acquires a majority stake in Organic Harvest

24 January 2022, Mumbai:

Good Glamm Forays into Organic Beauty with 7th Buy in 12 mths

Good Glamm Group has Organic Harvest, organic beauty and personal care brand, in an all-cash deal.

Organic Harvest 6-IN-1 Face & 3-IN-1 Face Wash Combo for Men & Women, For All Skin Type, 100% Organic, Paraben & Sulphate Free (Face Wash 100gm Each)
The deal values Organic Harvest at an enterprise value of 275-280 crores.
Credits: ET dt 24-01-2022

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Start-Up 24-01-2022

Good Glamm acquires a majority stake in Organic Harvest

Start up world year 2022 brings new hopes, new horizons: Fundraising only will only get better

22 January 2022, Mumbai:

92% of startup founders who looked to raise funds in 2021 reported favourable experiences.

Charting Numbers of the 100 startups survayed, 83 have a higher bias for growth over profitability, an InnoVen report said.

KEY HIGHLIGHTS

Of 100 startups surveyed. 83 have a higher bias
51% Firms aim to turn EBITDA profitable in next 2 years
71% of Founders believe IPO is the likely mode of exit
20% of Startups that claim to be EBITDA profitable

Ashish Sharma,Mg Partner- InnoVen Capital India:
2021 will be remembered as the year when the Indian venture ecosystem hit an inflection point.

Credits: ET dt 21-01-2022

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Start-Up 21-01-2022

Start up world year 2022 brings new hopes, new horizons: Fundraising only will only get better

Shopkirana earns $38 million in a fresh round of investment and wants to expand across India

27 January 2022, Mumbai:

Shopkirana, a business-to-business company, has acquired $38 million in a fresh round of funding from investors including Info Edge, with aspirations to extend its operations to a national scale.

According to ET Tech, pure play internet startup Info Edge, Sixth Sense Ventures, and Oman India joint investment fund, as well as Trifecta, Incubate Fund, Akatsuki, Ajanta LLP, and Gunosy Capital, participated in Shopkirana's newest fundraising round.

The four footprints – The Earthbound Report

Madhya Pradesh, Uttar Pradesh, Rajasthan, and Gujarat are the four Indian states where Shopkirana now operates. The company operates a network of around 50,000 kirana stores that it supplies with fast-moving consumer goods and groceries by connecting kirana stores with brands directly.

KEY ARTICLES

Shopkirana, a business-to-business (B2B) company
It has acquired $38 million in a fresh round of funding
investors including Info Edge, with aspirations to extend its operations to a national scale
pure-play internet startup Info Edge, Sixth Sense Ventures, and Oman India joint investment fund, as well as Trifecta, Incubate Fund, Akatsuki, Ajanta LLP, and Gunosy Capital, participated in Shopkirana's newest fundraising round

The company also works with businesses to help them expand their distribution by connecting them with kirana outlets that would sell their goods. The company's current expansion strategy calls for it to start in a new location every 15 days in order to expand its operations across India.

"We are really pleased to expand the business to a national scale with the proper product-market fit and considering the high adoption from kirana stores, legacy consumer goods companies, and direct-to-consumer or D2C businesses," Shopkirana co-founder Sumit Ghorawat told ET Tech.

Shopkirana was founded in Indore in 2015 by Deepak Dhanotiya, Sumit Ghorawat, and Tanutejas Saraswat. Shopkirana, according to Ghorawat, is the first firm in its sector to break even in terms of operations, and the company currently competes in the field with Jiomart, Jumbotail, Flipkart, and Amazon, among others.

**The statistics mentioned in the above articles have been sourced from The Economic Times.

CREDITS: ET TECH

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Start-Up 27-01-2022

Startups 2021: Bought back historic high ESOPS

24 January 2022, Mumbai:

Over $400 million worth of ESOPs were bought back by Indian startups In 2000, according to a report startups by Nasscom and consultancy firm Zinnov. Over 10,000 employees benefited from these buybacks.

The ESOP pool has expanded to 900 million with Sebi's revised policies, the report said.

KEY HIGHLIGHTS

Over $400 mn worth of ESOPs were bought back
Over 10,000 employees benefited from it
ESOP pool has expanded to 900 mn with Sebi's revised policies
Reported Nasscom & Zinnov consultancy firm

Indian startups record highest ever ESOP buyback in 2021: $440 Million

Sebi changed nations last year to allow ESOPs to be given even to employees on contracts, and then probations prior to information.

10,500 startups in India by 2020: Nasscom-Zinnov report - StartUp360News

10K STAFFERS

Can't Get No Employee Satisfaction? How Efficient Training Can Help
Many new-age firms have been buying back employee stock options to reward them. ESOPS has emerged as a tool and has been integral to the compensation strategy of startups.

Credits: TOI dt 24-01-2022

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