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$1.1 billion worth ShopClues Raises Rs 50 Crores In Venture Debt

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ShopClues, ShopClues raises 50 crores in venture debt, InnoVen Capital, venture debt, ShopClues funding, ShopClues valuation, Tiger Global, Nexus Venture Partners, online retail, e-commerce, ShopClues raises about 50 crores in venture debt from InnoVen Capital, #startupstories, startup stories india, e commerce latest news

Gurgaon-headquartered online marketplace ShopClues has raised Rs. 50 crores in venture debt from InnoVen Capital, according to the reports of Livemint. This is a rare instance where a homegrown unicorn had opted for venture debt.

ShopClues recently stated that it would do a pre-IPO round, between $ 50 million and $ 100 million in 2017. Generally, a venture debt is raised for working capital, when the company is facing a shortage of funds, but the reports have quoted CEO Sanjay Sethi saying the debt is preferred as it can be paid off whereas equity will lead to dilution.

InnoVen Capital includes OYO Rooms, Myntra, Practo, BlueStone and Furlenco in its portfolio.

Founded by Sanjay Sethi, Radhika Aggarwal and her husband Sandeep Aggarwal in 2011, ShopClues from the beginning has been focusing on expanding tier II as well as tier III cities in the country.

Shopclues, backed by Helion Venture Partners, Nexus Venture Partners, GIC and Tiger Global Management, joined the unicorn club in January last year with a valuation of $1.1 billion.

This online platform had been focusing on fashion and lifestyle categories, and now is venturing into local and unbranded markets as well. ShopClues also claims that it had improved its NPS (Net Promoter Sector) by over 30 points in just a year.

Sanjay Sethi opened about this recent developments, said: “Today, to seriously go after the unstructured categories and Bharat consumer and to build a business that will scale to make money, it has to be done very differently from how Amazon and Flipkart are doing now. That has to be done under a different brand.”

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Unilever Introduces Innovative Color-Changing ‘Smart Label’ for Dove

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Dove_StartupStories

Unilever has launched a new innovation in personal care with the introduction of a color-changing “smart label” for its Dove Shower Sensor Deep Moisture Body Wash. This limited-edition product, available exclusively in Canada, integrates advanced packaging technology to promote healthier skin habits.

How It Works

The smart label activates when exposed to water temperatures above 41°C, displaying a “VERY HOT” warning. This feature encourages users to lower their shower temperature, helping to preserve the skin’s natural moisture—especially crucial during Canada’s cold winter months1.

A Step Towards Smarter Personal Care

This innovation reflects Unilever’s dedication to combining technology with personal care. Divya Singh, head of personal care at Unilever Canada, highlighted the product’s role in fostering better skin health through intuitive reminders. Singh stated that the sensor supports hydration and empowers consumers to maintain healthier habits confidently1.

Broader Implications

The smart label is part of a larger trend in packaging innovation, offering functionality beyond traditional use. Such advancements not only enhance user experience but also align with Unilever’s commitment to sustainability and digital transformation13.

This launch underscores Unilever’s focus on enhancing everyday products with technology while promoting skin health and environmental consciousness.

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Quick Commerce Set to Boost HUL’s Revenue

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StartupStories

Unilever’s CEO, Fernando Fernandez, is optimistic about quick commerce’s growth in India, predicting it will significantly boost Hindustan Unilever Ltd’s (HUL) revenue. Currently, quick commerce accounts for about 2% of HUL’s revenue, but Fernandez expects this to rise to 10-15% within the next three to four years.

Why Quick Commerce?

India’s unique demographic, with affluent and economically active households living in close proximity, makes quick commerce a logical and profitable channel. The margin mix in quick commerce is also favorable for improving profitability12.

Market Trends

Quick commerce is rapidly expanding in India, with its contribution to ecommerce sales doubling annually. Major players like Blinkit, Swiggy Instamart, and Zepto are driving this growth, driven by consumer preference for convenience over discounts13.

Future Outlook

Fernandez’s strategy aligns with Unilever’s goal to transform its business and meet evolving consumer preferences. Leveraging quick commerce will be key to enhancing HUL’s revenue in India, a crucial market for Unilever

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Social Media Platform X Faces Global Outage

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Social Media Platform X Faces Global Outage

Elon Musk’s social media platform X, formerly known as Twitter, experienced a significant global outage on Monday. The disruption began around 3:20 PM IST, with over 19,000 reports of issues globally, according to Downdetector.

Impact by Region

  • United States: Over 21,000 users reported issues, primarily with the app.
  • United Kingdom: More than 10,800 incidents were recorded.
  • India: Nearly 2,300 users faced difficulties, though some reports suggest around 1,000 complaints, mainly with the search bar.

Nature of the Outage

The outage affected both web and mobile app versions, preventing users from accessing timelines or posting content. The cause remains unclear, as X has not issued an official statement.

Resolution

Services resumed after about 30-40 minutes, but concerns about the platform’s reliability have increased due to its recent technical issues

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