Flipkart
Top Funding Highlights: Startups of the Week [May 24–31]
The startups with the highest funding raised this week, from May 24 to May 31, are listed below. A quick rundown of them is as follows:
Zypp Electric Raises USD 15 Mn in Series C led by ENEOS
The Gurugram-based platform aims to deploy the raised funds to expand its fleet from 21,000 to 200k electric scooters and extend its services to 15 cities across India by 2026.
Walmart-owned Flipkart Gets $350 Million Investment From Google
Reportedly, Google's proposed investment and Cloud collaboration would help expand Flipkart's business and advance the modernization of its digital infrastructure
Shadowfax Secures USD 100 Mn in Series E Led by TPG NewQuest
The Bengaluru-based startup aims to utilise the raised funds to reinforce its middle-mile network and extend its last-mile delivery services to cover all 20,000 pin codes across India.
Flipkart to Lay off Around 1,500 Employees by March-April
Flipkart has been practicing workforce reduction over the last two appraisal cycles. It also paused the hiring of freshers over the last year. All this is being done to control and manage expenses
How Continuous Experimentation Has Kept this E-commerce Giant Ahead of the Curve
How do Ravi Krishnan and his team at Flipkart Labs assess what to toy and experiment with among 80+ product categories? They focus on core customer needs, consumer understanding, and category understanding
Flipkart To Invest $20 Million For In-House Credit Marketplace Startup
The project is led by senior VP Prakash Sikaria, who also leads Flipkart's social commerce platform Shopsy
Walmart Buys Tiger Global's Stake In Flipkart: Report
It has reportedly paid $1.4 billion for the stake
Flipkart To Payout $700 Million To Esop Holders After PhonePe Split: Report
As per the report, the payouts for the ESOP buyback will be made by July 31 and the communication regarding the same was made to the employees previously
Flipkart And PhonePe Expects To Be a $100 Billion Business In India, Says Walmart CFO
In its most recent quarter ended April 30, Walmart said its Flipkart business generated double-digit sales growth, boosted by new shoppers in some cities and a 50% jump in ad sales
Flipkart, Hang, and Polygon Labs Join Forces For a Web3 Loyalty Program
The loyalty program, FireDrops2.0, will be powered by Hang and will aim at transforming user-brand engagement for Flipkart users with Polygon Labs providing the underlying NFT technology for a better user experience
PhonePe Raises $350 Million From General Atlantic
Just a month post separation from Flipkart, PhonePe announced it has raised funds through General Atlantic to be valued at USD 12 billion
Ola, Uber, Three Others Rated Zero On Fairwork's Gig Workers Condition Index
The annual report of Fairwork India reveals the hard-sad reality of gig economy of the country
Flipkart X Polygon: A Strategic Partnership To Build The Indian Web3 Landscape
The e-commerce giant in a race to overtake rival Amazon is welcoming metaverse and its players with open arms
Rivigo Held Talks With Flipkart And FirstCry For Potential Sale
The talk comes in line as the unicorn has struggled to raise funds as the investors turn fidgety because of the economic downturn