Udaan Secures $340 Million in Series E Funding Round

 B2B e-commerce platform Udaan has successfully secured $340 million in its latest Series E funding round, led by M&G Plc, with notable participation from Lightspeed Venture Partners and DST Global.

The funding includes a combination of equity and convertible notes, marking a strategic move for Udaan as it seeks to enhance its customer experience, expand market reach, forge strategic vendor partnerships, and reinforce the long-term capabilities of its supply chain and credit systems, according to a company press statement.

Udaan's co-founder and CEO, Vaibhav Gupta, expressed enthusiasm about the funding, stating, "It enables our continued journey of growth and profitability, positioning us well to be public-market ready in the next 12-18 months."

Although specific details about the valuation remain undisclosed, it's noted that the equity component is likely to reflect a more conservative valuation. Udaan had previously reached a peak valuation of approximately $3 billion.

Founded in 2016, Udaan specializes in streamlining supply chain and logistics operations, concentrating on B2B trade for daily deliveries across more than 1,200 cities through its udaanExpress service. The platform spans various sectors, including lifestyle, electronics, home & kitchen, staples, fruits & vegetables, FMCG, pharma, toys, and general merchandise. Udaan boasts a substantial network, with over 3 million retailers and thousands of sellers actively engaged on the platform nationwide.

Despite a dip in gross revenue (GMV), which contracted by 43.1% to Rs 5,629 crore in FY23 from Rs 9,900 crore in FY22, Udaan demonstrated resilience with losses narrowing by 33.7% to Rs 2,076 crore in FY23 from Rs 3,132 crore in FY22, as per financial statements filed by its group company, Trustroot Internet in Singapore.

While Udaan experienced organizational restructuring last year, involving the laying off of around 500 employees across two phases, the company clarified that these actions were part of an efficiency enhancement initiative and not indicative of financial distress. Udaan remains focused on strategic growth, innovation, and fortifying its position in the dynamic B2B e-commerce landscape.

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Hero MotoCorp Increases Ownership Stake in Ather Energy by 3%, Invests Rs 140 Crore

Hero MotoCorp, one of India's leading two-wheeler manufacturers, has solidified its commitment to the electric vehicle (EV) sector by acquiring an additional 3% stake in Ather Energy, a prominent player in the electric mobility space. This strategic move involves an investment of Rs 140 crore (approximately $16.8 million) and is part of Hero MotoCorp's ongoing efforts to strengthen its position in the rapidly evolving EV market.

The transaction, revealed through regulatory filings, signifies Hero MotoCorp's intent to deepen its involvement with Ather Energy. By purchasing additional shares from existing stakeholders, including notable names such as Tiger Global, GIC, Caladium Investment, and Navi founder and CEO Sachin Bansal, Hero MotoCorp is set to increase its stake in Ather Energy from 36.7% to 39.7%. This move follows Hero MotoCorp's earlier investment of Rs 550 crore in Ather as part of a larger funding round.

Ather Energy, based in Bengaluru, recently garnered attention by raising Rs 900 crore ($108 million) in September from Hero MotoCorp and GIC through a right issue. The company had previously secured $128 million in its Series E round in May 2022, reaching a valuation of $750 million. While the latest valuation remains undisclosed, Ather's financials for the fiscal year ending March 2023 showcase substantial growth, with revenue from operations surging 4.36 times to Rs 1,784 crore. However, the company also reported increased losses, rising 2.5 times to Rs 864.5 crore in FY23.

Ather Energy is now rumored to be gearing up for an initial public offering (IPO), aiming to get listed by Diwali 2024 or early 2025. This aligns with the broader trend in the EV sector, with companies seeking to capitalize on the growing interest in sustainable transportation.

Comparatively, Ather's competitor, Ola Electric, has also witnessed impressive growth. Ola Electric reported a staggering 510% increase in total revenue, reaching Rs 2,782 crore in FY23, up from Rs 456 crore in FY22. Ola Electric is anticipated to file IPO papers before December 20, further highlighting the intensified competition and investor interest in the Indian electric mobility landscape.

As the EV sector continues to gain momentum, Hero MotoCorp's strategic investments in Ather Energy underscore its commitment to staying at the forefront of the evolving automotive landscape, fostering innovation, and contributing to a sustainable future. Stay tuned for more updates on the dynamic developments in the electric vehicle space.

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ERP Solutions Startup Icertis Raises $15 Mn From Ignition Partners

ERP Solutions Startup called Icertis raised $15 Mn funding from Ignition Partners in their Serious-B round according to ET Report. some other investor are also takes part in this funding.

Also read :Hindi Is Important And We Come With Hindi Language Startup Story Blog

Icertis mainly SaaS based product which helps in managing enterprises wide contacts, it included all buy side or sell side or employ contacts and last but least ESOPs solution.

Aslo read :This Time Flipkart Parent Company Inverts $50 Million In Myntra

Icertis was started in late 2009 by Monish Darda and Samir Bodas, they have their branch office at Pune, previously company raised a amount of $6 Mn from US Based investor. Startup founder seems to be happy with their serous-B round funding, Founder told that they will use their funding to increase work force and to increase the quaility of heir product.

Also read : Top 6 Online Mobile Recharge Website Startup In India

As we all know that after the year 2015, we came to know that their is 500% growth noted in SaaS based startups in India, and founder knows that their is more than $200 Billion market of Saas in India.
Website

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This Time Flipkart Parent Company Inverts $50 Million in Myntra

Flipkart a India's top eCommerce company reported to invest $50 Mn on its partner eCommerce company Myntra, which is online fashion mega store. According to Roc filling we got to know that Filpkart pumped Myntra to compete its reveal company Jabong.

This Funding helps Mynta to boost their services and also helps them to expand more in their niche.

Also Read : Hindi Is Important And We Come With Hindi Language Startup Story Blog

This all happens after their top competitor Jabong succeed to raise fresh funding of $20 Mn from Global Fashion Group.

Also Read : TVF Pitchers Makers, Finally Raised Their Funding

According to Inc42 report, This year Myntra revenue jumped upto 77% which very good for any company. This year Myntra made (INR 780 Cr) with the total loss of (1.278 Cr), according to ROC.

Also Read :Why Rahul Yadav Is Considered As Drama King Of Startup World

Flipkart don't wants to see their company to lay down in any ways and that's why they are totally ready to face any type of financial loss in any terms, they only wants to lead in market.   

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#Budget2016 : Now Register Your Company in One Day.

This 2016 Budget is really awesome form all of our startup founder and those who want to start a startup, so here we have some announcement for all of you:

• Now register your Company with in 1 day.
• Government announce an amount for Startup -500Cr for new and for startup development in India.
• Now you don't need to pay tax on Capital gains for startup.
• Now get 100% FDI through FAPB.
• This year government also launched some another bill for startups. 

budget2016

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Myntra Understand Their App Only Mistake and Relaunch Mobile Site

After Flipkart Myntra is also seems to understand their App-Only mistake. Myntra is now going to relaunch their mobile website after Flipkart who is also parent company of Myntra Fashion online brand cum online store.
As we all know that digital world is keep changing according to our needs and it keep developing as time goes but some times in sake of creating a nice or we can say extra ordinary product, many times developers do some mistake. But again we know that mistake is called mistake when it is identified that some thing is not going right.

After Myntra shutting down their mobile website they keep on tracking their customer behavior they now they finally analyzed that most of their customers are not using their App and they like to prefer mobile website instead of App.

Myntra Mobile Website New Look.

We browsed Myntra website using chrome mobile browser and we found that their upper fold is still promoting to download their mobile App which simply menas that Myntra is still kjeeps its main focus on App only platform for their Brand.

We know that this is not first time when mobile commerce brands do some hard decision after understanding their customer behavior. 

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Again ZipGo Ask to Stop Their Service in Bangalore

ZipGo, Which a on demand Bangalore based shuttle service has again asked by government to stops their services in city, because the state transport department alleged them of violating rules and operating their service without permits.

ZipGo was founded in last year 2015 by Jitender Sharma and Pritesh Gupta, ZipGo mainly provides on demand A.C bus services in city. ZipGo is recently funded by Orios Venture Partners. ZipGo is doing very well in their field and startup is getting competition from BMTC function but now it has asked to stop their all service in city because now it does not have permit to ply on the road.

Karnataka Commissioner tell that, ZipGo preforming illegal activity by running their services in city without having any knind of permit to run provide their services in city, he also say's that if they want to run their services then they should have permit for that, but because of BMTC having same function they are unable to get permit.

ZipGo recently launch their in 14 new points in city to the Kempegowda International Airport, and charging INR 149 and BMTC is charging INR 170 for same service and this create a tough completion for BMTC to provide same service in more cheap rate, that's why ZipGo is not get permit to run its service.

Also read : Facebook Growth Story

We are still not understanding that why government is not making easy for startups to run their services, on the other hand PM Modi is running Startup India Standup India Campaign to promoting startup's in Country.
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DGCI places Bans Online Sales of Medicines

DGCI (Drug Controller General of India) has place a temporary ban on the selling of medicines online. Drug Controller General of India has asked to all the states and union territory to ask all the electronic-pharmacy to story their services and pull-down until they are not asked to start their services according to Times Of India report.

But Even the ban most of big e-pharmacy like still running their services like 3g chemist.com, Netmeds.com, Online Doctor, Toppills, Medplussmart, Topgenericmeds, Candrugstore, Doctorsolve, Merapharmacy.com, Medidart.com, Planetdrugsdirect,  Pharmstore, NetMeds.com, Candrugs, Pharmlex according to Tark.in report.

The TIO cleared that ban is temporary and the  is Drugs Controller General of India waiting result from an expert committee which is running under the view of Dr Harshadeep Kamble, commissioner of the Maharashtra Food and Drug Administration. 


Also read ; 

• Did You Know?. That 13% Of Apps in Google Play store are Malicious found
• Why Rahul Yadav is Considered as Drama King of Startup World
• Mobile Wallet Mobikwik Raises Funding of $6.5 Million from Sequoia Capital

Why Ban is Pace on Sale of Medicines?

All know that online selling of medicines is one of tough task and has always been a big issue in India or as well as in abroad. The many controversies are created because many drugs are misused by peoples and these drugs are easily available on online portal. Before this incident, In May,2015 Maharashtra FDA pulls ban on Snapdeal for selling medicines online without getting prescriptions.

In December last year, The DCC, the chief part of DCGI (which mainly work in the making any rule or giving advices in may factor), had appointed a seven member Sub-Committee to analyse and deals with the all problems or issues arising in the sale of drugs on Internet.

Not only Snapdeal but many other online e-pharmacy stores are trying to expanding their business and they are continuously violating law which are made for selling drugs.

Some of these online website selling banned drugs on their stores and at this last year their is more 40000 complaints resisted in various government institutions.

Also read :

• After Snapdeal Now Flipkart starts Selling Cars, Motorcycles online
• Now FlipKart also Supports Net Neutrality on Freebases of Facebook
• 15 Ways to Get Quality Backlinks To Your Blog in one Month

Startups are facing downside in this field.

Many of young startups are facing too much problems to starting with this venture, because the other big players are completely rich with huge funding and now the task of selling drugs on Internet is very hard and they need to come with much paper work and In these sector the easy of doing business is so much hard, Thats why startup founder are droping the this Idea.

So what do you think about this ban, do not forget to tell us via comment section below.

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Now FlipKart also Supports Net Neutrality on Freebases of Facebook

With past one year Flipkart Maintained their silence on Facebook free bases, has not they supported net neutrality and they said that all internet services have to get same rights and have to access at same price. Filpkart is now completely agree with Net Neutrality and that all content are equal rights on Internet.

The India's first eCommerce is now agree with net neutrality, and said that In Absence of net neutrality will affect web innovations and create digital inequality in India, And according to our views this is very good steps taken by them and we also wish to other companies should also support net neutrality. also read that why Microsoft break their science on net neutrality.
(Source)

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Did You Know?. That 13% Of Apps in Google Play store are Malicious found

According to Trend Micro’s report, With the huge increase in the usability of banking apps with smartphone are facing the nightmare to users and financial system in 2016.

Their report clearly said that every second app in India is malicious found and not trustworthy to use for transaction like uses. With the slow rate of using the mobile payment apps or services will helps to create a interest to make their own system which helps them to still the useful information of their thousands of users.
Also Read:

Mobile Wallet Mobikwik Raises Funding of $6.5 Million from Sequoia Capital

In 2016, It is not very easy for online hackers or criminals to steal any information because of improved and secured payment system and now most of system have to be full secured if they wants to make any payment done on their platform, According to RBI in India the online payment platform must rich with PCI DSS Complains Certificate.

The data provided by Trend Micro's says that 13% of apps found in Play Store are found to be malicious while Google Play only registered 0.16% malicious apps only. This is not happening in other country where developer trying to upload their malicious apps in app stores because they have much more secured ways to detected these one.
Also Read : 

After Snapdeal Now Flipkart starts Selling Cars, Motorcycles online

Many Mobile malware are also the one of big cause to effect user in India with allowing to download third party download via their portal.
According to our research we found that mobile malware are continues increasing their growth up to 23% at the end of 2016.
(SOURCE)

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After Snapdeal Now Flipkart starts Selling Cars, Motorcycles online

As we all knows that Filpkart is of of top online marketplace in India and now a days they are continues expanding their business. After Snapdeal Now Flipkart is selling Cars and Motorcycles, We can also take this in way like Filpkart is giving competition to thier one of biggest competitor after Amazon which is India based e-commerce platform Snapdeal. All knows that Snapdeal is started in year 2010 after three year of Flipkart launch, but still it is one of top competitor in marketplace of Flipkart.  Flipkart is now one of leading domestic online marketplace, so they set up to sell cars and bikes online on their platform and yet they are offering to sell Maruti Suzuki cars and Bajaj motorcycles to their users and buyers on the other hand Snapdeal has been selling vehicles like cars and motorcycle online form back 10 months and they get some awesome result. Currently Snapdeal is mainly focus to sell two-wheelers but according to their sale it is not far that they list some more vehicles on their portal.
(Source)
You Should Read : Microsoft says No to Facebook 'Free Basics' in India

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Microsoft says No to Facebook 'Free Basics' in India

After facebook disparate about Free Basics Microsoft replied that they are not supporting facebook free basics because this burns net neutrality. Microsoft Indian Chairman says that free Basics does not helping to all to assess internet net now it is misused by many of users who are all ready connected through Internet he also say that “I don't think what Facebook is doing is about net neutrality but they should really think about their this program which is not as working as they thinks.
This statement completely say that Microsoft which is one of top billion dollar company is talking against other billion dollar company and we should not forget that Microsoft also having some minority stacks in Facebook but this does not means that  Microsoft against net neutrality.
Previously Facebook rebrands Internet.org platform and change the website URL name with "Free Basics by Facebook" this step is taken by facebook by getting so many complaint from TRAI that Facebook is misleading their users with brand name Internet.org, Now if you goes on Internet.org then you will automatic redirected to Freebasics.

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Flipkart's New Bangalore office make you quit your current job

Flipkart recently move to their new sexy office which ease to compel you to work with Flipkart. This 2 million squre-foot office location is at Cesna Buisness Park, Sarjapur, Bangalore which is also known as silicon valley of India. Flipkart’s new office place is a sure winner in the lines of creating a wonderful working experience and help to reduce work force for the employees.
The office is rich with so many features(here the use of feature will define as divisions of office) like it has over 11 floors with recreational areas, miniature golf area, hallways, library, game zones and various other installations.
Floor themes vary from literature to technology, art, advertising, music, cinema, science and more.
Now it is time to take a quick tour of hub of e-commerce store:

Real estate portal Housing have their new office in Delhi, You can also check Freecharge brand ne office in Bangalore. 

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Freecharge gets brand new office for their Bangalore employees

The of of top online recharge web portal Freecharge is moved to their new office. Now we are looking the big change with Indian start-ups, After Flipkart and Snapdeal had disclose the view of their new office, which is too much amazing even I think that, Now it time of Freecharge. Now Freecharge is shifted to their own office which really looks cool.
The new office is spread across a sprawling 22,115 Sq, and is a far cry from the humble 2 BHK where Freecharge running their operations from last 5 years.

 The office houses 187 workstations, 5 meeting rooms and a board room.

Freecharge has several seating arrangements that encourage collaboration. They’ve got couches, window seats, and even a hanging seating unit

 Their Own cafeteria View.

 Their staff image in their new #Freechargenewden Freecharge new office.

(Founder kunal Shah in middle with staff members)  

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