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Moglix raised ₹107.58 crore from Singapore parent since December
Inshorts
·
5m ago
Medial
Tiger Global-backed B2B ecommerce unicorn Moglix bagged ₹107.58 crore from its Singapore parent since December. In the last year, the startup received the shareholders nod to issue upto 1,16,856 compulsorily convertible cumulative preference shares having a face value of ₹10 each at a premium of ₹9,198 to its promoter Mogli Labs Private Limited on a rights basis.
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Flipkart receives another $262 Mn from Singapore-based parent
Entrackr
·
2m ago
Medial
Flipkart receives another $262 Mn from Singapore-based parent Flipkart Internet (India), the marketplace arm of the Walmart-owned firm, has received another $262 million (Rs 2,225 crore) in internal funding from its Singapore-based parent entity. This comes nearly two months after Flipkart Internet received $382 million from its Singapore-based parent company. The board at Flipkart has allotted equity shares worth Rs 2,225 crore to Flipkart Marketplace Private Limited (Singapore), its multiple filings accessed from the Registrar of Companies (RoC) show. This follows around the same time Flipkart’s fashion platform Myntra India received $125 million from its Singapore-based parent, FK Myntra Holdings. Media reports indicate the firm plans to launch its IPO with a valuation of $60-$70 billion. It is shifting its Domicile from Singapore to India, joining Pine Labs, Zepto, Meesho, and Razorpay in relocating their headquarters back to their home country. According to startup data intelligence platform TheKredible, Walmart owns 85% of Flipkart Internet, which includes its affiliates PhonePe and Myntra. Other shareholders include Tencent, CPP Investments, GIC, SoftBank, and Microsoft. Flipkart is currently valued at $36 billion. For the fiscal year ended 2024, Flipkart reported a 20% growth in operating revenue to Rs 17,907 crore, while reducing its losses by over 41% to Rs 2,359 crore during the same period.
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Flipkart Internet gets ₹1,421 crore from Singapore-based parent
Inshorts
·
1y ago
Medial
Flipkart Internet, the Indian arm of the e-commerce company, has received ₹1,421 crore (around $171 million) from its Singapore-based parent entity, as per regulatory filings. This internal cash transfer happened in two tranches. Flipkart Internet also received around ₹924 crore (about $111 million) from its related entities in Singapore in January.
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Blinkit gets Rs 1,500-crore cash boost from Zomato
Economic Times
·
5m ago
Medial
India's leading quick commerce platform, Blinkit, received a Rs 1,500 crore investment from parent company Zomato, totaling Rs 4,300 crore since its acquisition in August 2022. This infusion aids Blinkit's financial losses amid aggressive expansion and competition. Despite operational revenue covering needs, expansion costs cause high cash burn. Blinkit targets 2,000 dark stores by December 2025, ahead of competition like Swiggy and Zepto. Rapid expansion in the sector intensifies cash burn and financial losses for companies.
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Moglix's ₹600-cr war chest: What this unicorn is buying before its India IPO
Livemint
·
1m ago
Medial
Moglix, a unicorn valued at $2.6 billion, plans to invest ₹500-600 crore in acquisitions, focusing on expanding traditional manufacturing sectors like sustainable packaging. This expansion aligns with its goal to diversify product categories. The Singapore-headquartered company aims to list publicly in India within two years. These strategic initiatives are backed by Accel and reflect Moglix’s commitment to reinforce its presence in the B2B marketplace for industrial tools and equipment.
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Moglix’s gross scale spikes 83% to Rs 4,500 Cr in FY23; losses down
Entrackr
·
1y ago
Medial
B2B ecommerce platform Moglix experienced a significant spike in gross revenue, with an increase of 82.6% to Rs 4,595 crore in FY23 from Rs 2,517 crore in FY22. The company, which focuses on industrial supplies procurement, saw major revenue contributions from sales of industrial supplies, commission on online sales, and income from technology and support services. Despite increasing expenses, Moglix was able to reduce losses by 11.87% to Rs 193 crore in FY23 through austerity measures. The company is backed by investors such as Tiger Global, Accel, and Alpha Wave Global.
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Moglix acquires Khatema Fibres for Rs 80 crore
Economic Times
·
8m ago
Medial
B2B ecommerce platform Moglix has acquired paper manufacturing company Khatema Fibres for Rs 80 crore. The acquisition will help Moglix expand its product portfolio and accelerate growth. Moglix aims to expand into five new manufacturing categories as part of its business growth plans. The addition of Khatema Fibres will strengthen Moglix's market position and operational efficiency. The company recently launched Next Day Delivery in 12 cities and plans to expand to 40 cities to cater to the evolving needs of the B2B segment. Khatema Fibres specializes in sustainable paper manufacturing with a diverse range of products. Moglix plans to increase the plant's capacity from 50,000 to 75,000 metric tonnes.
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InfoEdge Ventures leads Series B funding in Decentro
VCCircle
·
2m ago
Medial
Decentro, a fintech startup, raised Rs 30 crore ($3.5 million) in Series B funding led by InfoEdge Ventures, with participation from Stargazer Growth and existing investors. The funds will enhance product capabilities, marketing, and enterprise adoption across financial institutions. Decentro offers infrastructure to over 1,300 companies, focusing on KYC, payments, and debt collection. It introduced new AI products and plans to relocate its parent entity from Singapore to India within 12-18 months.
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Flipkart receives $382 Mn from parent entity
Entrackr
·
4m ago
Medial
Flipkart Internet, the marketplace arm of Walmart-backed Flipkart, has received Rs 3,249 crore (approximately $382 million) in internal funding from its Singapore-based parent entity. Earlier, in April 2024, the company had secured Rs 1,421 crore from the same parent organization. The board at Flipkart has issued 470,773 equity shares at an issue price of Rs 69,014.7 each on a right issue basis to raise Rs 3,249 crore from Flipkart Marketplace Private Limited (Singapore), its regulatory filing accessed from the Registrar of Companies (RoC) shows. In May last year, Flipkart raised $350 million from Google at a valuation of $36 billion. According to startup data intelligence platform TheKredible, Walmart is the largest stakeholder in the e-commerce company holding 85% stake, followed by Tencent and other minority shareholders including CPP Investments, GIC, SoftBank and Microsoft. Apart from horizontal e-commerce offerings, Flipkart also entered the quick commerce space with Minutes, promising deliveries within 10-15 minutes to compete with players like Blinkit, Zepto, and Instamart. For the fiscal year ended 2024, Flipkart reported a 20% increase in operating revenue to Rs 17,907 crore, while reducing its losses by over 41% to Rs 2,359 crore during the same period.
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BluSmart raises ₹200 crore from MS Dhoni's family office, others
Internet
·
1y ago
Medial
Ride-hailing EV startup BluSmart has raised $24 million (₹200 crore) in Series B funding round led by former India cricket captain MS Dhoni's family office, ReNew Chairman Sumant Sinha and responsAbility. The fund will be used to expand operations and build EV charging infrastructure and assets, the company said. BluSmart has reportedly raised ₹710 crore so far since December 2023.
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Flipkart Internet Rakes In $111 Mn From Singapore Entities
Inc42
·
1y ago
Medial
Amazon India's marketplace business, Amazon Seller Services, has received INR 830 crore ($111 million) from its US parent company. Flipkart's marketplace arm, Flipkart Internet, has also received a cash infusion of around INR 924 crore ($111 million) from its related entities in Singapore. These capital injections come as Flipkart is reportedly seeking to raise $1 billion in funding, with $600 million committed by Walmart. Flipkart's Big Billion Days sale event in October 2023 saw a record-breaking 1.4 billion customers visit. Meanwhile, Amazon Seller Services has received INR 830 crore from its US parent.
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