Rise & Shine’s Post

💰 Where is the VC money going❓ In retail. 🛒 🛍 From having virtually zero interest 3 years ago, investors are rushing to back companies with offline retail-driven models. At least a dozen deals are underway in food, furniture, jewellery and other sectors. 1️⃣ Sumosave, a supermarket chain that also has an online presence, has received a $3.3-million investment led by Lightspeed, say people aware of the transaction. The company’s founder, Mohit Kampani, is a seasoned executive — he was the CEO of Hypermarket, owned by More Retail, and managing director of Spencer Retail. 2️⃣ Another supermarket player, SuperK, could land $5 million in a funding deal led by Blume Ventures, The Arc understands. SuperK, which operates in Andhra Pradesh and Telangana, was founded by BITS Pilani alumni Anil Thontepu Naga Purushothama and Neeraj Menta. Both worked at Flipkart earlier. 3️⃣ Cantabil Retail, a listed company running over 400 outlets of affordable fashion, raised about $6 million from Think Investments last month. Think is a hedge fund known for its bets on Dream11, Swiggy and PharmEasy. Article link in Comments 🔗 👇 #retail #consumer #funding #venturecapital #startups #india #brands

India in privileged position, poised for growth over 20 years: Niren Shah In India, the company has 27 active investments including in Swiggy, NSE India, Duroflex, Finova Capital, Kishlay Foods, Mintifi, Quikr among othersNorwest Venture Partners, a global venture capital and growth equity investment firm, closed its $3 billion fund on Thursday. The firm will deploy the fund across three markets: US, India, and Israel. With the new fund closure, the firm’s total capital under management rose to $15.5 billion. The new fund would enable the Norwest team to continue partnering entrepreneurs in India and building the next generation of companies. In India, the company has 27 active investments, including Swiggy, NSE India, Duroflex, Finova Capital, Kishlay Foods, Mintifi, and Quikr, among others. Of these, 20 are profitable companies. In a video interview,... https://bit.ly/4aR0PTZ Niren Shah | Norwest Venture Partners #India #Business #Investment Dev Chatterjee Via business-standard.com

🌟 Exciting News! ProcMart Secures $30M in Funding Round Led by The Fundamentum Partnership and Edelweiss Discovery Fund 🌟 Thrilled to announce that ProcMart, a leading online B2B marketplace specializing in supply chain solutions, has raised $30 million (about Rs 250 crore) in an equity funding round led by Nandan Nilekani’s Fundamentum Partnership and Edelweiss Discovery Fund, with participation from South Korea’s Paramark Ventures. The investment will fuel ProcMart's strategic initiatives, including exploring acquisitions for backward integration, enhancing client offerings, talent acquisition, technology investment, and expanding presence in new markets within India and globally. Founder and CEO, Anish Popli, shared, “We are looking to strengthen ourselves in Southeast Asia and increase our presence in India, expanding our portfolio to around 35 locations in the next one and a half years.” ProcMart anticipates significant contributions from its overseas operations, targeting 20% of revenue in the next three years. Currently operating across 20 cities in India, as well as in Malaysia and Indonesia, the company serves an impressive client roster including Colgate, Cadbury, PepsiCo, Coca-Cola, and Brembo. Founded in 2015, ProcMart facilitates connections between large enterprises and vendors for indirect purchases. Leveraging AI and machine learning technologies, the company aims to expand its operations and develop AI-driven recommendations for inventory procurement and management in the coming year. Popli revealed impressive growth metrics, with revenue surging from Rs 208 crore in FY23 to Rs 625 crore in FY24, with sights set on reaching the Rs 1,000 crore mark this year. Commenting on the investment, Prateek Jain from Fundamentum Partnership expressed enthusiasm for ProcMart's alignment with their investment thesis, emphasizing its ability to enable large enterprises to outsource and digitize critical business functions. Ashish Agarwal from Edelweiss Discovery Fund commended ProcMart's high-growth, profitable status and its potential to expand the MRO category in India. This funding round follows ProcMart's previous success, having raised $10 million in November 2022. With a total funding of $43 million, ProcMart is poised for continued growth and innovation in the B2B marketplace. Congratulations to ProcMart on this milestone achievement! 🎉 #B2B #SupplyChain #Funding #BusinessExpansion

𝗠𝗲𝗲𝘁 𝘁𝗵𝗲 𝗜𝗜𝗧𝗶𝗮𝗻𝘀 𝘄𝗵𝗼 𝗵𝘆𝗽𝗲𝗿𝘀𝗰𝗮𝗹𝗲𝗱 𝗣𝘂𝗿𝗽𝗹𝗹𝗲 𝗶𝗻𝘁𝗼 𝗮 𝗯𝗶𝗹𝗹𝗶𝗼𝗻-𝗱𝗼𝗹𝗹𝗮𝗿 𝘀𝗮𝗿𝘁𝘂𝗽 Remember the days when Nykaa ruled the online beauty kingdom in India? Well, move over because a worthy opponent has entered the ring - Purplle, the billion-dollar startup founded by a trio of IIT brainiacs: Manish Taneja, Rahul Dash, and Suyash Katyayani. 𝗕𝘂𝘁 𝗵𝗼𝘄 𝗱𝗶𝗱 𝗣𝘂𝗿𝗽𝗹𝗹𝗲 𝗰𝗹𝗶𝗺𝗯 𝘁𝗵𝗲 𝗿𝗮𝗻𝗸𝘀 𝗮𝗻𝗱 𝗯𝗲𝗰𝗼𝗺𝗲 𝗮 𝗯𝗲𝗮𝘂𝘁𝘆 𝗲-𝗰𝗼𝗺𝗺𝗲𝗿𝗰𝗲 𝗽𝗼𝘄𝗲𝗿𝗵𝗼𝘂𝘀𝗲? 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝗶𝗰 𝗣𝗶𝘃𝗼𝘁: Imagine the founders picking furniture over makeup! Luckily, they chose the booming beauty industry, a decision that proved to be a golden touch. 𝗖𝗮𝘁𝗲𝗿𝗶𝗻𝗴 𝘁𝗼 𝘁𝗵𝗲 𝗕𝗲𝗮𝘂𝘁𝘆 𝗙𝗮𝗻𝗮𝘁𝗶𝗰: Purplle launched in 2011, offering a treasure trove of beauty and personal care products. From cult-favorite international brands to hidden Indian gems, they've got it all! ✨ 𝗔 𝗩𝗶𝘀𝗶𝗼𝗻𝗮𝗿𝘆 𝗮𝘁 𝘁𝗵𝗲 𝗛𝗲𝗹𝗺: Manish Taneja, Purplle's CEO, isn't settling for small wins. He's got his sights set on an IPO, taking Purplle public and transforming it into a major player! 𝗣𝘂𝗿𝗽𝗹𝗹𝗲'𝘀 𝗴𝗿𝗼𝘄𝘁𝗵 𝘁𝗿𝗮𝗷𝗲𝗰𝘁𝗼𝗿𝘆 𝗶𝘀 𝗻𝗼𝘁𝗵𝗶𝗻𝗴 𝘀𝗵𝗼𝗿𝘁 𝗼𝗳 𝗽𝗵𝗲𝗻𝗼𝗺𝗲𝗻𝗮𝗹! Their revenue skyrocketed from Rs 44 crore in FY21 to a staggering Rs 372 crore in FY23. That's some serious growth muscle! 𝗧𝗵𝗲 𝗾𝘂𝗲𝘀𝘁𝗶𝗼𝗻 𝗿𝗲𝗺𝗮𝗶𝗻𝘀: 𝗧𝗲𝗮𝗺 𝗡𝘆𝗸𝗮𝗮 𝗼𝗿 𝗧𝗲𝗮𝗺 𝗣𝘂𝗿𝗽𝗹𝗹𝗲? Let the battle commence!

I’m thrilled to share highlights from our recent panel discussion on "Democratising Bharat's Digital Economy" at Shiprocket SHIVIR. It was an honor to join Akash Agrawal (Co-founder, ZOFF), Preety Agrawal (Co-founder, KesarCo), Girish Ramachandra (Co-founder & CEO, Shopalyst), and T Koshy (Managing Director, Open Network For Digital Commerce (ONDC), moderated by Atul Mehta (CEO - Domestic Shipping, Shiprocket). We explored how ONDC is leveling the digital playing field, enhancing scalability, and minimizing efforts to drive traffic. Key insights included ONDC's visibility for 10-12 million SKUs across multiple apps and its seamless integration with Shiprocket, boosting repeat customer rates. 📈 As a co-founder of Love of India, where we bring organic honey, ghee, and spices directly from farm to table, it’s inspiring to see how ONDC supports small businesses like ours. A huge thanks to our panelists and Shiprocket for organizing such an impactful event. Here’s to driving Bharat’s digital economy forward together! Special Mentions : Praveen Kumar & Avantika Ganeriwalla #ShiprocketSHIVIR #AapkiUnnatiKaSaathi #MoveAhead #eCommerceBrands #DisruptD2C #GrowYourBusiness #GrowYourBrand #EventsInDelhi #Entrepreneurs #Growth

Foodtech giant Swiggy submitted its first updated DRHP to SEBI on Thursday, aiming to raise Rs 3,750 Cr through an initial public offering. The public offering will consist of a fresh issue of shares worth Rs 3,750 Cr and an OFS of 18.53 Cr equity shares. Based on recent share purchases at approximately Rs 350 each, the OFS is estimated at around Rs 6,485 Cr, bringing Swiggy’s total IPO size to roughly Rs 10,000 Cr. Investors, including Accel, Coatue, Alpha Wave Global, Elevation Capital, Norwest Venture Partners, and Tencent, will participate in the OFS, with Accel India IV (Mauritius) Ltd offloading 1.05 Cr shares and Alpha Wave Ventures selling 55.73 Lakh shares. This comes days after SEBI approved Swiggy's DRHP through the confidential pre-filing route. Read full story here: https://lnkd.in/gMnmAnEh #foodtech #ipo #swiggy #news #latestnews LinkedIn News India Linkedin News Ashu Agrawal

Ultrahuman : A Full-Circle Success Story Founded in 2019, Ultrahuman is shaking up the health and fitness tracking space with its innovative smart ring, blending services, platforms, and data into one seamless experience. The founders, Mohit Kumar and Vatsal Singhal, previously co-founded RoadRunnr, which merged with Zomato to become Zomato Food Delivery. Deepinder Goyal of Zomato even participated in their Series B round, helping them raise $35M! In April 2022, Ultrahuman acquired LazyCo, launching the R1 ring that year and the Ring Air in 2023. Despite a lawsuit from Finnish startup ŌURA alleging patent violations and imitation, Ultrahuman has thrived, with a 3x growth surge. Their winning strategy includes: - Expanding to 150 global retail outlets - Launching a new manufacturing hub, Ultra Factory - Projected to surpass $100M in ARR by the end of 2024 India’s digital healthcare market is set to grow tenfold by 2030, from $2.7B in 2022 to $37B. Ultrahuman is perfectly positioned to ride this wave of growth. #TechInnovation #HealthTech #StartupSuccess #DigitalHealth #GrowthStory #jaihindcollegeincubatorandacceleratorcentre

#Spotlight: In our survey, no consumer was expecting to spend less than Rs 10 per unit on summer beverages, signalling a trend towards premiumisation. We incubate ventures and scale brands in India. Email: team@northside.co.in Website: www.northside.co.in Vidur Vyas Akash Singh Thakur Mallika Nayar Pranav Mehra Gaurav Mehta Krishanu Chakravarty Dhruv Sabharwal Soumya Chadha #consulting #marketresearch #marketfit #brandmarketing #brandconsulting #incubation #marketgrowth

"Originally established as Manash Lifestyle Pvt. Ltd in 2012, Purplle was founded by three accomplished IIT engineers: Manish Taneja, Rahul Dash, and Suyash Katyayani. Nykaa or Purplle? A question that has become a part of a conversation while online shopping for beauty products. But how did Purplle manage to disrupt the market and become a worthy opponent to the monopolist Nykaa who once ruled the Indian beauty e-marketplace? Purplle, an online cosmetics retailer, achieved the remarkable feat of becoming billion-dollar company. Originally established as Manash Lifestyle Pvt in 2012, Purplle was founded by three accomplished IIT engineers: Manish Taneja, Rahul Dash, and Suyash Katyayani. In the last fiscal year. How did the startup begin? They were eager to start a firm but faced a crucial decision between venturing into the furniture or fashion industry. In December 2011, Purplle was launched as an online shop, aiming to cater to the beauty and personal care needs of its customers. The company swiftly gained popularity by offering an extensive range of products from both Indian and international brands. Manish Taneja- The founder and CEO of the startup Taneja has set his sights on even greater achievements. He envisions taking Purplle public by launching an IPO, with the goal of transforming the company into a listed entity. The company’s scale went up to Rs 372 crore in FY23 from Rs 44 crore in FY21." Read More: Thekarostartup.com #startupstories #successstories #cosmetics #industries

FMCG veterans Anjana Ghosh and Atanu Gangoly launch ‘Scale Sherpas’ to support startups and MSMEs Link in the comments Anjana Ghosh Atanu Gangoly Scale Sherpas #mediabrief #ScaleSherpas #FMCG #MSME #marketing #media