wordpress blog stats
Connect with us

Hi, what are you looking for?

Funding Roundup: Myntra, Ketto & ApartmentADDA

Online fashion store Myntra is in talks to raise $50 million investment led by Azim Premji's PremjiInvest, reports Times Of India citing sources familiar with the development. It also says British investor CDC (Commonwealth Development Corporation) is expected to participate in the investment round along with existing investors Accel Partners and Tiger Global. Myntra co-founder Mukesh Bansal told the publication that they are currently in talks with various investors and they will raise money with "the right set of investors at an appropriate time". PremjiInvest CFO Prakash Parthasarathy declined to comment on this investment to the publication. Myntra is probably one of the few remaining e-commerce ventures which still hasn’t pivoted to a marketplace model in the country, with the other prominent exception being HomeShop18 which claims to be the only company in the e-commerce space in India to have FDI approval. The company has so far raised $75 million investment across multiple rounds which includes a $25 million round late last year, a $21 million round in Feb 2012, a $14 million round in March 2011 and a $5 million round in November 2008. It had also raised an undisclosed seed amount from Accel Partners and Mumbai Angels in 2007. *** Mumbai based Ketto Online Ventures Private Limited which operates the online crowd funding platform Ketto has secured an angel investment of Rs 0.77 crore from Calcutta Angels and Club Ah! investors, through ah! Ventures's impact investing arm ah! Impact. The company plans to use the investment raised for product development, marketing and business development. Started in October 2012 by Varun Sheth, Zaheer Adenwala and the Bollywood actor Kunal Kapoor, Ketto aims to…

Please subscribe/login to read the full story.
Written By

Free Reads

News

Telecom companies are against a regulatory sandbox, as they think information revealed by businesses during the sandboxing process might be confidential should be out...

News

According to a statement, the executive body of the European Union had also sought internal documents on the risk assessments and mitigation measures for...

News

The newly launched partially open-sourced LLM Grok-1 can be commercially used but not trademarked.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

NPCI CEO Dilip Asbe recently said that what is not written in regulations is a no-go for fintech entities. But following this advice could...

News

Notably, Indus Appstore will allow app developers to use third-party billing systems for in-app billing without having to pay any commission to Indus, a...

News

The existing commission-based model, which companies like Uber and Ola have used for a long time and still stick to, has received criticism from...

News

Factors like Indus not charging developers any commission for in-app payments and antitrust orders issued by India's competition regulator against Google could contribute to...

News

Is open-sourcing of AI, and the use cases that come with it, a good starting point to discuss the responsibility and liability of AI?...

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ