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JustDial’s CFO Ramkumar Krishnamachari Steps Down

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The chief financial officer of the online local business search engine JustDial, Ramkumar Krishnamachari has announced his resignation from the firm. In a stock exchange filing, JustDial announced the CFO will be relieved of his duties with effect from 30 September 2017.

This is the second high profile exit of a JustDial executive following which there was a 5% dip in their shares. Krishnamachari joined JustDail in 2010 led the firm’s finance, legal, taxation and secretarial functions. He laid the foundations for the firm’s initial public offering (IPO) in 2013 and was responsible for investor relations and stakeholder management.

The company posted a net profit of Rs. 25.3 crore for the fourth quarter and recorded a 37.2% dip in their net profit for the quarter ended 31 March 2017. The stock of the company ended at Rs. 363.15, down 4.90% on NSE and reached an intra day low of Rs. 360.60. Their market valuation also saw a decline of Rs. 129.13 crore to Rs. 2,525.15 crore. Global investment banking and diversified financial services group Macquarie said that CFO’s exit comes at a difficult time given that the company continues to grapple with execution issues.

JustDial’s database consists of approximately 17.9 million listings and their app is available on Android, iOS, Blackberry and Windows platforms. Founded by V.S.S. Mani, JustDial provides search services aimed at making several day to day tasks conveniently actionable and accessible to the users. SAIF Partners, Sequoia Capital, Tiger Global, EGCS and SAP Ventures have invested in this company. Amitabh Bachchan also made an investment of Rs. 6.27 lakh in the company by buying 62,794 shares at Rs. 10 per share in 2013.

The company has conducted around 435,360 campaigns for paid advertisers as of March 2017, compared to the 368,800 campaigns as of March 2016, thereby representing a growth of 18% year on year. The company’s database also represented a year on year growth of 9.5%.

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₹290 Crore Boost: Rozana’s Series B Funding Scales Rural Retail Network Nationwide

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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.

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Peak XV New Funds: $1.3B Commitment for India Startup Surge 2026

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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.

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D2C Brand Neeman’s Raises $4 Million for Tier 2/3 Store Expansion & Eco-Friendly Shoes

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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.

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