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Binny Bansal invests $20 Mn in e-comm OS startup ShopOS

EntrackrEntrackr · 21d ago
Binny Bansal invests $20 Mn in e-comm OS startup ShopOS
Medial

Binny Bansal invests $20 Mn in e-comm OS startup ShopOS Bengaluru-based e-commerce tech startup ShopOS has raised $20 million in a funding round led by 3STATE Ventures, the investment firm founded by Flipkart co-founder Binny Bansal. The fresh capital will be used to scale product development, expand its engineering team, and onboard more e-commerce brands across global markets, ShopOS said in a press release. ShopOS is developing an AI-powered platform to help brands easily build and manage online stores. It uses an “AI workforce” to automatically create content like product descriptions, images, and videos, adjust store layouts for each visitor in real time, and run targeted marketing campaigns. The startup was founded by Sai Krishna V K and Ajay P V, who earlier co-founded Scapic, a tech platform acquired by Flipkart in 2020. After the acquisition, they helped launch Flipkart Labs, focusing on deep tech and AI in commerce. They are joined by Karan Sonawala, who previously led AI and immersive commerce projects at Flipkart. “The friction in content creation and personalization are significant drags on growth. Our previous startup journey taught us the importance of solving hard problems, and with ShopOS, we are focused on delivering what AI agents can truly do for brands. We are building from India for the globe and with this funding milestone, we wish to tap into the smartest AI minds in India to build the future of Commerce,” said the co-founders in a joint statement. ShopOS is targeting a global customer base with early adopters already onboarded in India, Europe, and the UAE.

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Binny Bansal’s Three State Ventures invests $25 Mn in Curefoods

EntrackrEntrackr · 1y ago
Binny Bansal’s Three State Ventures invests $25 Mn in Curefoods
Medial

Cloud kitchen startup Curefoods has raised an additional capital of $25 million in its Series D round from Three State Ventures, a fund launched by Flipkart co-founder Binny Bansal. The company raised $36 million in the first tranche of Series D and is now valued at $375 million, according to Curefoods founder and CEO Ankit Nagori. As per data intelligence platform TheKredible, it has raised more than $190 million to date. Bansal made the investment by buying out Cultfit’s remaining stake in the cloud-kitchen platform and from some angel investors, according to an ET report. Four-year-old Curefoods operates brands like EatFit, Yumlane, Aligarh House Biryani, Masalabox and CakeZone. It has over 100 kitchens in over 200 locations across 15 cities serviced by a backend operation of over 7 food factories, and 150 multi-brand cloud kitchens. Also Read: Decoding the financial health of leading cloud kitchen startups Besides fundraising, the company also acquired two brands – YumLane Pizza and Millet Express in 2023. Curefoods competes with Rebel Foods and Box8, FreshMenu, and a host of independent brands such as Biryani Blues and Biryani by Kilo. Among the cloud kitchen brands, Curefoods is the second largest brand in terms of revenue after Rebel Foods. While Rebel Foods’ revenue from operations grew 39.2% to Rs 1,195 crore in FY23, Curefoods reported Rs 384 crore in revenue followed by EatClub with revenues exceeding Rs 300 crore in the same period. Biryani By Kilo also claims a revenue of around Rs 300 crore in the last fiscal year.

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