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Benchmark Sues To Have Uber Cofounder Removed From Board
Benchmark the venture capital firm and the early investor in Uber, is suing the former Uber CEO and Cofounder Travis Kalanick for fraud, breaches of fiduciary duty and breaches of contractual obligations. The complaint was filed on Thursday in the Delaware Chancery Court.
In the complaint, Benchmark alleges Kalanick’s overreaching objective was to pack Uber’s Board with loyal allies to help him insulate his prior conduct from any scrutiny. This would also clear the path for his eventual return as CEO, which Benchmark claims would be detrimental to Uber’s stockholders, employees, driver partners and customers.
The lawsuit seeks to force Kalanick off the board, nullify a June 2016 agreement that created three additional board seats and rescind his ability to fill those three seats. The lawsuit also aims to permanently remove Kalanick from Uber’s board and ban the cofounder from participating in Uber’s CEO replacement process.
The June 2016 agreement allowed Kalanick to expand the size of Uber’s board with three additional seats, giving him the sole right to designate those seats. According to the lawsuit, Kalanick held the power to name one of those three seats for himself after his resignation, while the other two seats could remain unfulfilled. Benchmark’s argument hangs on the statement that they would never have granted Kalanick those extra seats had they known about Kalanick’s “gross mismanagement and other misconduct at Uber.” Benchmark argues Kalanick’s misconduct invalidates the board’s vote to enlarge the board. This misconduct, according to the lawsuit, includes pervasive gender discrimination and sexual harassment, hiding the existence of confidential findings and nondisclosure of material information.
Currently, Uber Technologies Inc., is also fighting another lawsuit from Alphabet Inc., for allegedly stealing trade secrets. Alphabet Inc., is claiming their former employee Anthony Levandowski stole 14,000 files from Alphabet before starting his self driving startup Otto, which was later acquired by Uber. According to the new lawsuit by Benchmark, Kalanick did not disclose to the board what he knew about Alphabet’s allegations of trade secret misappropriation before Uber acquired Otto. The lawsuit also states another lawsuit from Waymo, presents significant legal, financial and reputational risks to Uber. It claims these risks could have been reduced or avoided if Kalanick had disclosed crucial facts about his own apparent knowledge at the time of the Otto acquisition.
Travis Kalanick, who was allegedly trying to ‘Steve Jobs his way back’ into the company, was forced to resign after Benchmark partner Bill Gurley, led the effort to oust the CEO from the company. Uber has declined to comment on the issue.
Rozana, India’s leading rural retail platform, has secured ₹290 crore ($35 million) in a Series B funding round led by Bertelsmann India Investments (BII), with participation from Omidyar Network India, Vivid Capital, and Tana Investment Holding. This Rozana funding brings its total capital to over ₹500 crore, fueling hyperlocal expansion in underserved rural markets. Founded in 2021 by brothers Prashant and Prateek Chauhan, the startup’s phygital model blends micro-stores, app-based ordering, and last-mile delivery to connect 5 million+ users in 12 states with brands like ITC and HUL.
The ₹290 crore investment will supercharge Rozana’s rural omnichannel retail strategy, targeting 5x growth in 18 months. Plans include adding 5,000 micro-stores in Uttar Pradesh, Bihar, and Rajasthan; AI-powered inventory tech; and new categories like groceries and electronics. By empowering 20,000+ rural micro-entrepreneurs, Rozana taps into India’s $700 billion rural retail boom, where smartphone penetration and UPI drive 12% annual growth.
This Rozana Series B milestone positions it as a frontrunner against rivals like Ninjacart, eyeing unicorn status by 2028 amid ONDC tailwinds. CEO Prashant Chauhan emphasized, “We’re building rural prosperity through accessible premium brands.” For more on Rozana funding news and rural retail trends, stay updated on India’s startup ecosystem.
Peak XV Partners has launched three new funds totaling $1.3 billion, targeting India’s booming startup ecosystem. The lineup features the $600M Surge fund (8th edition) for early-stage ventures, a $300M Growth Fund for Series B+ scaling, and a $400M Acceleration Fund for rapid portfolio expansion. This commitment arrives as India’s VC inflows rebound, with AI and fintech leading 2026 trends.
These funds build on Peak XV’s legacy of backing unicorns like Zomato and Pine Labs, offering founders capital plus strategic guidance amid post-winter recovery. Early-stage deals surged 20% last year per Tracxn, positioning Peak XV to fuel the next wave of innovation in SaaS, climate tech, and consumer plays.
For startups eyeing Peak XV new funds or Surge fund 2026 applications, this signals prime opportunities. Investors and marketers should watch for deployment updates India remains a global VC hotspot.
Hyderabad, January 13, 2026 Neeman’s, India’s leading D2C footwear brand famed for sustainable shoes and patented PIXLL® technology, has raised $4 million from existing investors. This funding boosts its cumulative capital past $10 million since 2015, with a post-money valuation nearing $50 million. CEO Vijay Chahoria emphasized offline retail as the “next frontier,” planning 50+ new stores in Tier 2/3 cities like Jaipur and Lucknow to blend eco-friendly innovation with hands-on customer experiences.
In India’s booming D2C ecosystem where footwear sales hit ₹1.2 lakh crore in 2025 Neeman’s targets hybrid retail amid high online CAC and 25-30% returns. Backed by vegan, machine-washable shoes priced ₹2,000-4,000, the brand leverages PIXLL® (5x more breathable than leather) for carbon-neutral comfort. Recent 5x revenue growth to ₹100 crore ARR, 1M+ pairs sold via Myntra and stores, and awards at India D2C Summit 2025 position it ahead of rivals like Paaduks.
Neeman’s offline expansion India eyes the $15B sustainable footwear market by 2028, fueled by PLI schemes, Gen Z’s 70% eco-preference (Nielsen), and Southeast Asia exports. Challenges like real estate costs are offset by data-driven inventory and omnichannel QR tech. Watch for Q1 2026 launches in Hyderabad and Bengaluru redefining D2C success through authentic, “Wear the Change” branding.
Apple MacBook Air M5 Launched: M5 Chip, 22-Hour Battery in India
₹290 Crore Boost: Rozana’s Series B Funding Scales Rural Retail Network Nationwide
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April 15, 2026 at 10:18 pm
Wild Bandito entregou sticky wild em pontos decisivos nesta semana.