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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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Google’s Iconic ‘G’ Logo Gets First Update in 10 Years

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Google has refreshed its iconic ‘G’ logo for the first time in nearly 10 years, replacing the familiar solid blocks of red, yellow, green, and blue with a smooth, vibrant gradient that blends these colors seamlessly. This subtle update gives the logo a softer, more fluid, and modern appearance, aligning with Google’s evolving digital identity and current design trends.

The new gradient transitions smoothly from red to yellow, yellow to green, and green to blue, making the logo more visually appealing and adaptable across various devices, especially on mobile platforms. This redesign also reflects Google’s growing emphasis on artificial intelligence, echoing the gradient style used in the branding of Google Gemini, the company’s AI-generative assistant.

The updated ‘G’ logo has started rolling out on iOS through the Google Search app and on some Android devices, particularly Pixel phones running the Google app beta version 16.18. However, most other platforms, including the web and non-Pixel Android devices, still display the classic solid-color logo. A wider rollout is expected in the coming weeks.

So far, Google’s main wordmark and other product logos like Chrome, Maps, and Gmail remain unchanged. Given the shift toward gradient designs and AI-inspired visuals, similar updates to other Google icons may follow in the future.

In summary, this first major update to the ‘G’ logo since 2015 signals a subtle but meaningful shift in Google’s branding strategy, blending tradition with innovation as the company deepens its focus on AI and modern design aesthetics.

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Ixigo_StartupStories

Indian online travel platform ixigo has suspended all flight and hotel bookings to Turkey, China, and Azerbaijan in response to these countries expressing support for Pakistan after India’s military strikes-dubbed ‘Operation Sindoor’-against terror bases in Pakistan and Pakistan-Occupied Kashmir. The move, announced by CEO Aloke Bajpai on X, was described as an act of solidarity with India during heightened diplomatic tensions following the Pahalgam terror attack.

ixigo’s decision aligns with similar actions by other Indian travel companies, including EaseMyTrip and Cox & Kings, which have also restricted travel services to Turkey, China, and Azerbaijan. The suspensions come amid widespread calls for boycotts after these countries condemned India’s military response and backed Pakistan.

The travel industry’s collective response underscores how geopolitical developments are influencing business decisions, with Indian companies emphasizing national interests and unity in the face of international criticism

 

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MapmyIndia Sees 28% Surge in Q4 Profit, Hits INR 49 Cr

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MapmyIndia reported a strong fourth quarter for FY25, with consolidated net profit rising 28% year-on-year to INR 49 crore, up from INR 38.3 crore in Q4 FY24. Revenue from operations jumped 34% to INR 143.6 crore, while total income climbed 40% to INR 166.8 crore. EBITDA surged 47% to INR 58 crore, and the EBITDA margin expanded to 40% from 37% a year ago.

The Consumer Technology & Enterprise Digital Transformation (C&E) segment led growth, with revenue up 60% to INR 88.1 crore, while the Automotive & Mobility Technology (A&M) segment rose 7% to INR 55.4 crore. The company’s map-led business maintained strong EBITDA margins at 47%, and IoT-led margins improved to 14% in FY25 from 12% last year, reflecting a shift toward SaaS revenue.

For the full year, net profit increased 10% to INR 147.6 crore, and operating revenue grew 22% to INR 463.3 crore. The order book at year-end stood at INR 1,500 crore, up 10% year-on-year, supporting the company’s target to surpass INR 1,000 crore in revenue by FY28.

MapmyIndia also announced the renaming of its subsidiary Vidteq to Mappls DT, focusing on digital transformation and defence tech, led by former CEO Rohan Verma. The company declared a final dividend of INR 3.50 per share for FY25, and its shares closed 1.54% higher following the results.

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