Ecommerce Startup News Today

Happy 2024! Welcome to the first edition of ETtechs Top 5 in the new year. Tata groups digital payments business, Tata Payments, has secured a payment aggregator licence from the Reserve Bank of India (RBI). This and more in todays edition of our daily evening newsletter.

Roll-up ecommerce startup Mensa Brands saw its total loss for FY23 widen over twofold from a year ago to reach Rs 213.9 crore, while total income grew 150% to Rs 505.1 crore, data from market intelligence firm PrivateCircle showed.

Lightspeed Venture Partners-backed Udaan is among startups trying to tap the rapid growth of Indias economy and consumer market, while meeting investor demands for profitability. Udaan, which at its peak employed thousands, joined fellow Indian startups in slashing jobs last year and tightening internal controls and compliance. It now has about 1,800 staff, and Gupta didnt specify if further job cuts are needed.

The Lightspeed India-backed startup is likely to see a significant drop in its valuation, to under $2 billion during the new financing round compared with its last peak valuation of $3.2 billion, said people aware of the contours of the deal being discussed.

BharatAgri, an advisory-led farming inputs e-commerce platform, has raised $4.3 million in a Series A funding round led by Arkam Ventures. The funds will be used to expand BharatAgris platform to new areas and improve its last-mile delivery. The company offers smart farming advisory services and an e-commerce platform with over 10,000 agricultural products.

Founders and VCs had a lot to discuss and debate about at the ET Startup Awards, from valuation and execution to the all-time-favourite debate: growth vs profitability. But there was one thing everyone agreed on: for the Indian startup ecosystem, there is no other event that comes close to The Economic Times Startup Awards (ETSA).

The Udaipur-based startup plans to use the freshly raised funds to open 100-plus offline stores by the end of 2023.

At the Grand Finale of X-PITCH 2022 held on November 10, fifteen finalists selected from more than 4,000 startups in 51 countries showcased their business in front of hundreds of guests in the Metaverse

Chidiyaa, which follows the principle of sustainable and slow fashion, designs and markets a range of women apparels crafted by artisans.

Pivot and Persist: How discount coupon startup CashKaro tapped a new revenue stream amidst COVID-19 As sales of ecommerce coupons fell drastically during the initial months of the pandemic, discount coupon startup CashKaro diversified into online content offerings such as OTT, gaming, audiobooks, and e-learning. 0 claps Share on When CashKaro, an online cashback and discount coupon website, saw sales dwindle during the lockdowns last year because of movement restrictions and inability of ecomme...