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Twid and GoKwik partner to boost growth for D2C brands
Twid and GoKwik partner to expand loyalty and reward programmes usage across GoKwik network of D2C brands, offering discounts and loyalty points to shoppers, contributing to revenue growth.
Indian D2C brand market poised to hit $61.3 billion by FY27
The Indian D2C market is set to triple to $61.3 billion by FY27, with a 38% compounded annual growth rate driven by macroeconomic factors like rise in per capita earnings. The market is expected to create 10 million jobs in the retail sector by FY27.
BharatX expands into healthcare finance with acquisition of Zenifi
Fintech startup BharatX acquires healthcare finance firm Zenifi to enter medical lending. Zenifi CEO Padam Kataria joins BharatX to lead healthcare lending vertical.
Myntra gained market share, scaling beauty and home decor: CEO Nandita Sinha
Over the past year-and-a-half, online fashion retailer Myntra has gained market share even as rivals like Reliance Ajio and Nykaa Fashion have snapped at its heels, chief executive Nandita Sinha told ET in an interview–without naming the competition.
Homebound startups restructure; offline push by D2C brands
Happy Wednesday! Homegrown startups are stepping on the pedal for their move back home. This and more in today's ETtech Morning Dispatch.
Offline stores are trending as new set of D2C firms emerge
Investors and startup founders are noticing a trend: D2C businesses across various sectors, like fashion, electronics, and food and beverage, are opening physical stores (going offline) even after their initial funding round.
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FirstCry refiles IPO papers; Groww secures payment aggregator licence
FirstCry has refiled its draft IPO papers with market regulator Sebi with updated financials. More on this in today’s ETtech Top 5.
Early stage VC IvyCap Ventures announces final close of third fund at Rs 2,100 crore
The fund is allocating a significant portion of its third fund to invest in around 25 early-stage startups. These initial investments will typically range from Rs 30 crore to Rs 50 crore. Some of the startups that have already received funding include Dhruva Space, Snitch, Celcius Logistics, GradRight, Eggoz, and Flexifyme.
Sustainable packaging startup Bambrew raises $7 million in funding led by Blume Ventures
Bambrew said the funds will be used to expand into primary packaging for consumer goods, food and beverages product categories, expanding manufacturing capabilities, research and development and building a team
Snitch appoints Maruthy Ramgandhi as CTO
“His extraordinary communication skills, enthusiasm and brilliant presentation skills will add value to our team,” said Siddharth Dungarwal, founder of Snitch. “We strongly believe that the combination of his keen interest in implementing new strategies will contribute to expanding the company’s growth horizon.”
New-age consumer brands pulling in funds, tech no bar; and other top stories this week
At the peak of the funding winter last year, an investor told me that the pace of investment deals will continue to be slow, but the nature of companies grabbing new cash will be different. The next obvious question was: what kind of companies? Consumer brands, the person said.
AI chatbot startup LimeChat launches ecommerce chatbot with Microsoft
The company claims that the new bot has high accuracy with an error rate of under 0.1%, adding the technology will enable enhanced, efficient, secure, and personalised customer service experience.
Here's Wishing Us - Again! - Happy Birthday
Celebrating yet another of our inventions – the 12-month year – by taking stock of 2023, and Ghosts of New Year Past and Future.
Startups write a $1.5-billion twist in winter’s tale
December brings the highest monthly fundraise of 2023, though the annual total is the lowest in 7 years.
Titles Exiting Netflix in January 2024: See the list
Netflix subscribers should be aware of the extensive list of titles exiting the platform in January 2024. Keep an eye on the removal dates and make the most of your viewing opportunities before these movies and shows find new homes elsewhere.
Snitch raises Rs 110 crore in funding from SWC Global, IvyCap Ventures, others
The direct-to-consumer (D2C) firm did not disclose the valuation at which the fundraise took place. Snitch had earlier raised a much smaller funding round from a clutch of angel investors, including Lenskart founder Peyush Bansal and Boat founder Aman Gupta.
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.
Snitch secures Rs 110 cr in Series A funding for expansion and innovation
Fashion brand Snitch has secured Rs 110 crore in Series A funding co-led by SWC Global and IvyCap Ventures. The investment, supported by key angel investors, will fuel Snitch’s expansion in talent, technology, and an offline retail strategy. With an inaugural store in Bangalore, Snitch has a significant online presence, boasting over 2 million app downloads.
Fashion brand Snitch looks to open 7-8 offline stores in FY24, expand deeper into Indian geographies
Men's apparel firm Snitch plans to launch at least 7-8 offline outlets in cities and towns including Surat, Mumbai, and Pune this fiscal year. The company is well-represented in Tier-1 and Tier-II cities, according to Siddharth Dungarwal, the creator of Snitch. At the moment, Delhi NCR, Bengaluru, and Mumbai and Pune have the company's greatest customer bases
Amazon Freevee's November 2023 Line-up: Check out complete list
Amazon Freevee's November 2023 line-up offers a variety of content, including movies like "EXmas," series like "Young Rock Season 3," and other engaging films and shows throughout the month.
Myntra sees 460 million customer visits during its festival sale
Myntra's marquee festive fashion event, the Big Fashion Festival (BFF), concluded its outstanding and biggest edition by far, witnessing 460 mn customer visits over the much-loved extravaganza, including early access, the company said on Thursday.
More than 1000 brands saw 20% increase in order volume in the first phase of festive season: GoKwik
GoKwik, an eCommerce enabler, has reported a 20% increase in order volume for over 1000 brands on its platform during the first phase of the festive season compared to last year. The return-to-origin rate has also decreased by 26%, attributed to GoKwik's efforts to curb losses for these brands. Fashion brands led the growth in order volume, followed by beauty and personal care.
God of War: Ragnarok PC release date; Here’s everything you need to know
Sony has made its intentions clear when it comes to PC ports of its first-party games. They have successfully launched titles like "God of War," "Spider-Man," "Horizon: Zero Dawn," "Days Gone," and "The Last of Us: Remastered" on PC.
Netflix: See new titles coming to streamer this week
Netflix's upcoming week is brimming with over 50 new releases. Notable highlights include "Heart of Invictus," a docuseries about ex-military personnel in unique competitions, and the long-awaited "One Piece" live-action series. Additionally, the romantic comedy "Love Again" and an array of other exciting titles are on the horizon. Stay tuned for a diverse lineup of entertainment!
What to arrive on Netflix in September 2023? See the complete list
Netflix is gearing up for September 2023 with a fresh batch of content, including movies, series, and games.
Flipkart targets GenZ users with new offering Spoyl, follows subsidiary Myntra
The new offering Spoyl will focus on the GenZ segment, offering over 40,000 products, across segments such as westernwear, accessories and footwear.
GoKwik partners with Cred to drive higher conversions for D2C brands
This tie-up marks a step towards enhancing the online shopping experience and enabling trust for D2C merchants on the GoKwik checkout platform, it said.
Rapper Tekashi 6ix9ine physically assaulted by a group at Florida gym
A motive for the assault, including whether it was connected to his cooperation with prosecutors, was unclear.
Saudi snitching app turns citizens into social media police
Just weeks after the verdict against Salma al-Shehab - a doctoral candidate at Britain's Leeds University - rights groups say another woman was given a 45-year sentence for her social media posts - highlighting a crackdown targeting women online.
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