MIRABILIS INVESTMENT TRUST
D2C snack brand Let's Try secures funding from Wipro Consumer Care Ventures
Let's Try will use the funds to accelerate growth across both offline and online channels. The New Delhi-based company offers a wide range of snacks including baked, fried, and roasted namkeens. Let's Try claims to have a revenue run rate of over Rs 50 crore.
CCI clears IndoEdge's stake purchase in MG Motor India, other deals
The acquisition of shares in MG Motor India will grant IndoEdge India Fund 8.70% of the voting and economic rights, according to a statement by the antitrust regulator. The acquirer is a large value fund for accredited investors, a scheme by IndoEdge which is a contributory determinate trust registered with the Securities and Exchange Board of India as an alternative investment fund, it said.
ETtech Deals Digest: Startup funding drops 59% to 12 deals this week
According to data from Tracxn, February saw startups raise $516 million across 82 rounds, versus $551 million across 109 rounds in January.
Payment firms and KYC compliance; Cabinet nod for Tata chip unit
Despite the regulator’s insistence on adhering to prescribed norms, many payment firms seem to be lax in conducting bank-grade KYCs. This and more in today’s ETtech Morning Dispatch.
Mobility platform IntrCity raises Rs 37 crore in funding
The firm had last raised Rs 100 crore in a funding round in February 2020 at an about Rs 700 crore post-money valuation. The latest funding round happened at a higher valuation, cofounder Kapil Raizada told ET in an interaction, without giving exact numbers.
The Baker’s Dozen raises Rs 33 crore in funding round led by Wipro Consumer VC unit
The funds will be used to enhance distribution growth, expand reach into non-metro cities and international markets. It will be also employed for brand-building and marketing initiatives.
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Ecommerce roll-up firms in distress; how Krafton scripted BGMI return
Thrasio-style ecommerce roll-up companies such as Goat Brand Labs are struggling to survive amid an overall funding squeeze. This and more in today's ETtech Morning Dispatch.
Mithun Sacheti joins Singularity Growth; Agilitas raises Rs 100 crore from Nexus
Mithun Sacheti, who scored a Rs 4,621-crore exit from omnichannel jewellery retailer CaratLane to Titan in August, has joined Singularity Growth as a general partner. This and more in today's ETtech Top 5.
Ayurveda-focused D2C startup Nat Habit raises $10 million led by Bertelsmann
The company has previously raised about $7 million in total. From the current funding, about $2 million will be used for early-stage investor exits, in about 5X returns in four years. Its other past investors include Peak XV Partners, formerly Sequoia India and Southeast Asia.
ChatGPT powered tools for consumer complaints in the works; draft online gaming rules to be notified soon
Indian consumers will be able to register their complaints on the National Consumer Helpline (NCH) with the help of a ChatGPT-powered mechanism being developed by the Ministry of Consumer Affairs (MCA), ET has learnt.
Design Cafe raises Rs 40 crore funding from WestBridge Capital, Mirabilis Investments
Design Café was valued at $96.5 million as of August 2022, data sourced through business intelligence platform Tracxn showed.
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