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News on Medial
Binny Bansal's Opptra ropes in Ranjit Babu as CEO
Inshorts
·
4m ago
Medial
Founded by Binny Bansal, Opptra, has roped in Ranjit Babu, former director of consumer electronics at Amazon India as CEO of Opptra’s electronics and general merchandise vertical. Ranjit resigned from Amazon in December 2024. Interestingly, Opptra has brought in senior executives from Amazon, Flipkart, and Swiggy to drive its operations.
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Head of consumer electronics quits amid a top churn at Amazon India
Economic Times
·
8m ago
Medial
Ranjit Babu, the head of consumer electronics at Amazon India, has resigned amid ongoing senior-level changes in the company. Babu, who was also the former CEO of Cloudtail, a major seller on the platform, played a crucial role in Amazon India's success. His departure follows the recent restructuring of the company after the exit of former India head Manish Tiwary. The ecommerce giant is experiencing a significant senior-level churn, with executives such as Gaurav Arora and Suresh John also leaving the company. Amazon India is now focusing on catching up in the ecommerce business and entering the quick commerce sector.
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Flipkart co-founder Binny Bansal invests Rs 200 crore more in cloud kitchen startup Curefoods
IndianStartupNews
·
1y ago
Medial
Bengaluru-based cloud kitchen startup Curefoods has secured an additional $25 million investment from Binny Bansal's Three State Ventures. This comes as part of an ongoing funding round, bringing Three State Ventures' total investment in Curefoods to $50 million. Curefoods plans to use the funds to expand its offline presence and strengthen its portfolio. Since its founding in 2020, Curefoods has rapidly grown to include over 200 cloud kitchens and offline stores across 15 cities in India. With this latest investment, Binny Bansal's stake in the company reaches 18%. Curefoods operates in a competitive market, but its strategic acquisitions and expansion plans have helped it become the second-largest brand in terms of revenue after Rebel Foods.
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Flipkart cofounder Binny Bansal launches new startup Opptra
Economic Times
·
4m ago
Medial
Flipkart cofounder Binny Bansal has launched Opptra, a tech-driven startup aimed at scaling brands in Asian markets. Opptra, with two operational subsidiaries, Exporio and Terraspan, is led by executives from Amazon, Flipkart, and Swiggy. Exporio targets fashion brands in the GCC, while Terraspan focuses on home and kitchenware in India and Southeast Asia. Opptra plans to become a leading franchise partner for brands, leveraging its comprehensive capabilities to expand globally, starting with Asia.
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AI smartphones to lead Prime Day 2024, reveals Amazon India ahead of bonanza
Livemint
·
1y ago
Medial
Amazon India is preparing for its upcoming Prime Day sale, set to take place on July 20-21. Ranjit Babu, Amazon India’s Director of Wireless and Home Entertainment, discussed several key trends in consumer electronics. There has been a surge in premium purchases, with consumers increasingly opting for high-end products such as 4K TVs and smartphones priced over ₹100,000. The rise of 5G-enabled smartphones, particularly in the budget segment, has also been significant. Furthermore, the director highlighted the growing importance of tier 2 and tier 3 cities in driving sales. Amazon is expecting a successful Prime Day event with new product launches and attractive offers.
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Was extremely unhappy after exiting Flipkart as it was unplanned: Sachin Bansal
Economic Times
·
4m ago
Medial
Sachin Bansal, Flipkart cofounder, expressed his unhappiness after leaving the company in 2018, describing it as an unplanned exit. Despite being financially successful, Bansal felt discontent following the sale of his and his cofounder Binny Bansal's stakes to Walmart. This sentiment was noted by Paytm's Vijay Shekhar Sharma. After exiting Flipkart, Bansal founded Navi, a financial services company. He shared these reflections at Startup Mahakumbh 2025 in Delhi.
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VC-backed Rozana onboards former xto10x partner as co-founder
VCCircle
·
1y ago
Medial
Rural commerce startup Rozana has announced that Abhijit Upadhye, a former executive at Binny Bansal's xto10x startup, will join the company as a co-founder. Rozana, which has received funding from Bertelssman India Investments and Fireside Ventures, operates an e-commerce platform and logistics network that serves rural communities in India. The company has a network of 18,000 last-mile partners, primarily women, serving over 12,000 villages in Uttar Pradesh and Haryana. Rozana recently raised $22.5 million in funding, led by Bertelssman India Investments.
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After Flipkart, Binny Bansal steps down from PhonePe board
Economic Times
·
8m ago
Medial
Binny Bansal, co-founder of Flipkart, has stepped down from the board of PhonePe, the digital payments platform acquired by Flipkart in 2016. Bansal had left the Flipkart board in January to establish his new venture, OppDoor. Manish Sabharwal, founder of TeamLease, has now been appointed as an independent director and chair of PhonePe's audit committee. PhonePe founder Sameer Nigam expressed gratitude for Bansal's support and welcomed Sabharwal to the board. Nigam also praised Sabharwal's understanding of India's economy and his leadership in shaping education and employment policies.
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Scapia set to raise $20-25 Mn led by Binny Bansal’s fund
Entrackr
·
1y ago
Medial
Bengaluru-based travel fintech firm Scapia is in talks to secure a $20-25 million funding round, marking its second round in 2023. The funding is expected from 3STATE Ventures, Binny Bansal's new fund, with participation from existing backers Matrix and Tanglin. Scapia offers co-branded cards that turn everyday expenses into travel rewards, featuring benefits like zero-forex markup and unlimited domestic lounge access. The company's valuation is estimated to reach around $100 million post-funding.
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Binny Bansal Doubles Down On Curefoods With $25 Mn
Inc42
·
1y ago
Medial
Bengaluru-based cloud kitchen startup Curefoods has secured an additional funding of INR 200 Cr ($25 Mn) from Binny Bansal's fund Three State Ventures. This brings the total invested funds by Three State Ventures in Curefoods to INR 500 Cr ($62 Mn), with a post-money valuation of around INR 3,000 Cr ($375 Mn). The funding will be used to expand Curefoods' offline business and its popular brands like Nomad Pizza and Sharief Bhai Biryani. Curefoods currently operates over 200 cloud kitchens and offline stores in 15 cities across India, offering 10 different cuisines.
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Sachin Bansal is in talks to sell $100 million investment in Ola at a premium
Economic Times
·
7m ago
Medial
Flipkart cofounder Sachin Bansal is in discussions to sell his $100 million stake in Ola, seeking a premium and valuing the company at about $4 billion. Bansal's sale aims to focus resources on his fintech venture, Navi. Ola's valuation has recently decreased significantly, and Bansal's decision comes as the company plans an IPO. These talks coincide with regulatory challenges faced by Navi and plans for its growth despite previous fundraising setbacks.
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