Monday, February 16, 2026
Home Blog Page 705

Tech-driven D2C brand Homified raises INR 10 Million for strategic expansion

0
Homified
Varun Chopra, Co-Founder, Homified, and Shivam K., Co-Founder, The Teaser Company

Homified, an innovative tech-driven Direct-to-Consumer (D2C) brand affiliated with The Teaser Company, has successfully raised INR 10 million in a Pre-Seed funding round. The capital will be deployed to elevate the brand’s visibility through strategic measures, including a makeover of its brand identity, dynamic social media involvement, impactful partnerships with influencers, and compelling live sessions.

Homified’s expansion strategy encompasses the introduction of fresh product categories and the bolstering of community initiatives. With a specialisation in smart electronics and wellness tech, the brand maintains its emphasis on wireless power banks, laptop power banks, and state-of-the-art massagers.

The firm intends to employ the funds garnered to advance and broaden its product range, placing a significant focus on smart electronics and wellness technology. This strategic initiative is geared towards consolidating Homified’s standing in the tech D2C realm by crafting inventive products, such as wireless chargers and power banks, to cater to the ever-changing demands of consumers.

Alongside the growth in smart electronics, the financing will empower Homified to explore the wellness tech sector, specifically concentrating on massagers. The funding round was spearheaded by Srinivasan Namala, a distinguished investor with a proven track record spanning 20 startups in diverse sectors, underscoring the strategic significance of his engagement with Homified.

Regarding the funding, Varun Chopra, Co-founder of Homified, conveyed enthusiasm about the brand’s future prospects. He underscored the company’s commitment to leveraging the investment for improving its product range and delivering innovative solutions that prioritise functionality and ease of use. The ultimate goal is to have a positive impact on customers’ daily lives.

Meanwhile, The Teaser Company, the sibling company of Homified, has disclosed strategic augmentations to its leadership ensemble, with the objective of fortifying its market prowess and client services. Rakshita Kaushik and Dimple Hotchandani will spearhead the company’s creative strategy, whereas Kartavya Arora will lead growth strategy initiatives, concentrating on performance marketing and conversion rate optimization. Dhiraj Jindal will assume responsibility for the creative club, ensuring exceptional creative output.

Shivam K, Co-founder of The Teaser Company, underscored the firm’s dedication to vertical expansion and the establishment of brands that contribute substantial value to customers’ lives. He stressed the significance of the new leadership team in fostering emerging brands with potential while concurrently advancing value-adding brands.

Advertisement

Spice brand Pushp secures INR 100 Crore funding from Sixth Sense Ventures

0
Pushp

Sixth Sense Ventures, the consumer-focused fund that has supported companies like Bira91, Vahdam Teas, and Veeba Foods, has infused INR 100 crore into the Indore-based spices brand Pushp.

The deal involves a significant secondary portion in which the Mumbai-based investment firm has bought the stake in Pushp from the 49-year-old company’s first institutional investor, A91 Partners, Nikhil Vora, founder and CEO of Sixth Sense Ventures, explained.

A91 Partners, an investment firm established by former Sequoia India executives Abhay Pandey, VT Bharadwaj, and Gautam Mago, acquired a 25% stake in Pushp for INR 125 crore in 2020.

Pushp, known for processing spices like chilli, turmeric, and coriander, as well as blending various spices, holds a strong position in the segment within Madhya Pradesh. The company intends to intensify its national presence in the INR 90,000-crore market.

Of this amount, the estimated value of the branded spices market is around INR 25,000 crore. Over the last 12-15 months, major fast-moving consumer goods (FMCG) companies, including Dabur, Wipro Consumer Care, Tata Consumer, and Emami Agrotech, have either entered or substantially increased their presence in this segment.

In January this year, the Delhi-based fast-moving consumer goods (FMCG) major, Dabur India, finalized the acquisition of a 51% stake in Badshah Masala for INR 587 crore.

Continue Exploring: Dabur eyes global spice market with Badshah, aiming for 4% contribution to global sales

Other established players in the spices market include Everest Food Products and MDH.

“One key thing that I’ve seen in the consumer market is that incrementally a lot of disruptors are emerging from regional powerhouses,” Vora said. “In spices, there’s a similar play. You see a couple of national companies like Everest and MDH, and then there are strong regional companies because taste and preferences vary across the country.”

Aside from Madhya Pradesh, Pushp also vends its products in regions such as Maharashtra, Rajasthan, Uttar Pradesh, Bihar, and Gujarat.

“There will always be regional players that dominate one state, but don’t have the ability to go pan-India,” said Vora. “Pushp has leadership in two states and relevance in 2-3 more, which gives it the ability to nibble into incremental growth share across other states.”

As per regulatory filings obtained from Tofler, Pushp disclosed a 20% year-on-year surge in its FY23 operating revenue, amounting to INR 338 crore. However, its profit declined to nearly INR 10 crore from over INR 16 crore due to escalating raw material prices.

For FY24, Vora mentioned that Pushp is poised to achieve a revenue of INR 400 crore.

A company statement said, “Pushp has strategically invested in distribution and branding efforts, extending its reach beyond Madhya Pradesh to states like Maharashtra, Rajasthan, Uttar Pradesh, Bihar, and Gujarat.”

The statement additionally mentioned that the company’s two fully automated manufacturing facilities, equipped with in-house cold storage, have a total capacity of over 1 lakh tonnes per annum.

“With a consistent revenue growth of 25% CAGR (compound annual growth rate) over the last five years, Pushp is evolving from a regional leader to a significant national brand,” the company said.

Advertisement

Gujarat to host first food park as UAE commits $2 Billion investment in India

0
Food Park

The UAE has initiated the process of directing its long-promised $2 billion investments into food parks in India, starting with Gujarat. This comes after the two countries resolved concerns related to restrictions imposed by the Essential Commodities Act, according to sources.

The investments are part of the four-nation I2U2 (India-Israel-UAE-USA) initiative aimed at establishing a network of integrated food parks across India. The goal is to bolster food security in the Middle East and South Asia.

“India has agreed to waive ECA curbs for a specified volume of commodities (coming under the ambit of the Act) that would be proposed to be processed and exported from the parks by the investors. The UAE will specify the quantities at a later stage of development,” shared a source closely monitoring the situation.

The first food park is expected to be established on land near Kandla, where investors will engage in contract farming arrangements with local communities.

“The UAE is in talks with the State government for various permissions and work is expected to start soon. The investments will be made in tranches,” the source added.

The UAE pledged its initial commitment in 2018 to invest in food parks in India. This commitment was subsequently integrated into the I2U2 initiative, which was unveiled at the Leaders’ Summit in July 2022. The summit saw virtual participation from Prime Minister Narendra Modi, US President Joe Biden, former Israeli Prime Minister Yair Lapid, and UAE President Sheikh Mohamed bin Zayed Al Nahyan.

According to the joint statement signed during the Summit, these food parks are set to integrate cutting-edge climate-smart technologies. The aim is to minimize food waste and spoilage, preserve fresh water, and utilise renewable energy sources.

The UAE has expressed concern regarding the Essential Commodities Act (ECA) as three of the identified crops for processing in the food parks—onions, rice, and bananas—are encompassed by the Act. As the ECA empowers the government to impose stock-holding limits in the event of a shortage of a particular commodity, this could potentially impact the business outlook for the food parks.

“Now that the Centre has agreed that ECA would not apply on commodities processed in the food parks up to a certain quantity requested by the UAE, the problem has been sorted out,” the source said.

Advertisement

Flipkart’s B2C division nears INR 15,000 Cr in sales for FY23, registers reduced net loss of INR 4,026 Cr

0
Flipkart
Flipkart

Flipkart Internet Private Limited, the B2C division of Walmart-owned Flipkart, saw its operating revenue nearing the INR 15,000 Cr mark in the fiscal year ending on March 31, 2023. The operating revenue of the marketplace division surged by 42%, reaching INR 14,845.8 Cr in the financial year 2022-23 (FY23), compared to INR 10,477.4 Cr in FY22.

Flipkart Internet generates its main revenue through commission charges and additional services provided to merchants, such as product advertising. When factoring in other sources of income, the B2C division experienced a 41% increase in total revenue, reaching INR 15,044 Cr in the reviewed year, up from INR 10,640.5 Cr in FY22.

The company also successfully decreased its cash burn, leading to a 9% reduction in its net loss to INR 4,026.5 Cr in the reviewed year from INR 4,419.5 Cr in FY22.

In FY23, the total expenditure of the online marketplace division amounted to INR 19,043 Cr, marking a 27% rise from INR 15,024.3 Cr in FY22.

The company allocated INR 4,482.2 Cr for employee salaries, PF contributions, gratuity, and other welfare benefits. This figure marked a 20% increase from INR 3,735.7 Cr in FY22. Employee benefit expenses also encompassed ESOP expenses of INR 2,155 Cr in FY23, reflecting a 29% surge from INR 1,668.6 Cr in FY22.

The B2C division spent INR 6,571.2 Cr on transportation expenses in FY23, indicating a 30% increase from the previous fiscal year’s INR 5,045.6 Cr. These costs cover the expenditures related to moving products from one point to another.

In a bid to draw in additional users to its B2C marketplace, Flipkart allocated INR 2,407 Cr for advertising, marking a 24% uptick from INR 1,945.9 Cr in FY22.

It is noteworthy that Flipkart’s B2B or wholesale division, Flipkart India Private Ltd, recorded a 9% increase in operating revenue, reaching INR 55,823.9 Cr in FY23, up from INR 50,992.5 Cr in FY22. However, its net loss escalated to INR 4,845.7 Cr, representing a 1.4X rise from INR 3,404.3 Cr in FY22.

The fresh development comes at a time when, amidst the ongoing funding winter, Flipkart has secured a whopping $600 Mn from its parent Walmart. The startup is likely to raise another $400 Mn in this funding to take on its rival Amazon India.

Up until now, Flipkart has garnered more than $14 Bn in funding, with support from investors including Tencent, Softbank, Tiger Global, Microsoft, and several others. Nevertheless, a majority of the company’s stake, exceeding 70%, is currently held by the US retail giant Walmart.

Advertisement

Reliance Retail unveils Hamleys Play store in Pune

0
Hamleys

Reliance-owned multinational toy retailer Hamleys has unveiled the Hamleys Play store at Kopa Mall in Pune, as announced in a post on social media.

“Hamleys Play has now opened in Kopa, Pune! A delightful experience for any child – so many treats and games, you won’t know where to begin,” shared the official LinkedIn account of Reliance Brands Limited, the retail subsidiary of Reliance Industries Limited.

Catering to children between the ages of 3 and 8, Hamleys Play stores are concept-driven establishments offering 20 activities specifically crafted to captivate toddlers, kids, and even parents.

These encompass water play, a musical wall, ball pools, wall climbing, a donut slide, a building bricks zone, sand play, role play, a treehouse, a car track, and a dedicated area for storytelling and do-it-yourself (DIY) activities.

World’s first Hamleys Play store was launched in 2021 at Jio World Drive in Mumbai.

In July this year, Hamleys unveiled its inaugural Hamleys Play store in Chennai at the Phoenix Market City, signifying the brand’s expansion in South India.

In 2019, Reliance Brands secured the British toy retailer Hamleys through an all-cash transaction. The acquisition encompassed a complete 100% stake in Hamleys Global Holdings (HGHL).

Advertisement

Mokobara’s operating revenue soars fourfold to INR 53 Crore in FY23, despite a 78% increase in losses

0
Mokobara

New-age luggage brand Mokobara reported a notable increase in its operating revenue, surpassing fourfold growth to reach INR 53 crore in the financial year ending March 2023, as disclosed in the company’s regulatory filings.

The startup, supported by investors such as Saama Capital and Sauce VC, announced a 78% increase in losses, amounting to approximately INR 8 crore for the year.

In FY22, Mokobara achieved a turnover of around INR 12 crore in operating revenue, coupled with a loss of nearly INR 4 crore.

Mokobara’s total expenses in FY23 amounted to about INR 61 crore, nearly three times higher than the INR 16 crore spent in FY22. The most substantial component of expenditure for Mokobara was the purchase of stock, with INR 29 crore expended in FY23 as opposed to INR 17 crore in FY22.

On September 20, it was reported that the company was in talks with venture investor Peak XV Partners (formerly Sequoia Capital India) for an expected investment of $12-15 million (INR 99-124 crore). This investment could value the startup at $65-80 million (INR 541-666 crore). In October, the company raised $3.6 million (INR 29 crore) from existing investors such as Sama Capital and Sauce VC.

Continue Exploring: Mokobara Secures $3.6M Investment for Expansion from Current Investors!

During the fiscal year 2023, the company invested INR 16 crore in digital marketing, marking a substantial rise from the INR 5 crore expenditure recorded in FY22.

Founded by former Urban Ladder executives Sangeet Agrawal and Naveen Parwal, Mokobara began its operations in 2020. Sources familiar with its sales figures suggest that it is currently operating at an annualized revenue run rate of INR 140-150 crore.

The omnichannel retailer operates numerous stores in Bengaluru, Delhi, Mumbai, and Pune. In a press statement earlier this year, it announced plans to inaugurate 25 additional stores within the next eighteen months.

The company is entering the luggage segment, challenging established brands such as American Tourister, VIP, and Safari. Despite being positioned at a relatively higher price point compared to the current market players, it aims to establish itself as a premium choice.

According to a report from investment banking firm Merisis Advisors in February, the Indian luggage industry experienced a sales growth ranging from 50-70% in 2022 compared to the pre-pandemic period of 2019, which was historically considered the sector’s most robust growth year.

This year, despite a challenging funding climate, several direct-to-consumer (D2C) brands like Mokobara, boasting omnichannel operations, have successfully raised funding from venture capital firms. With the backing of VC support, these companies, once scaled, are positioning themselves to challenge prominent and established brands across a diverse range of sectors.

Certain investments have the potential to yield profitable returns for investors. Fireside Ventures, a venture capital firm with a focus on consumer-oriented ventures, emerged as the earliest institutional investor in the D2C firm Mamaearth’s listed parent company, Honasa Consumer. From this year’s initial public offering (IPO) alone, Fireside Ventures garnered INR 258 crore, retaining unsold holdings valued at INR 821.49 crore in the company. Notably, Fireside had cumulatively invested INR 29.1 crore in Honasa Consumer.

Furthermore, The Souled Store, an apparel startup with a focus on pop culture, secured INR 135 crore in a funding round led by Xponentia Capital in March of this year. In July, Freakins, a direct-to-consumer (D2C) apparel company specializing in denim, raised $4 million (approximately INR 33 crore) in a funding round backed by Matrix Partners India and Blume Ventures. Concurrently, footwear startup Solethreads received $3.7 million (INR 31 crore) in funding from Fireside Ventures.

Advertisement

IPO-bound FirstCry faces soaring losses, reporting over 500% surge to INR 486 Crores in FY23

0
FirstCry

IPO-bound omnichannel retailer FirstCry witnessed a fivefold increase in its net loss during the financial year concluding on March 31, 2023. The Mumbai-based startup recorded a consolidated net loss of INR 486 Crores in the previous fiscal year 2022-23 (FY23), marking a 518% surge from INR 78.6 Crores in the fiscal year before.

It’s worth mentioning that the startup had reported a net profit of INR 215.9 Crores in FY21.

FirstCry’s consolidated financials encompass the financial performance of its 38 subsidiaries, including Globalbees.

Established in 2010 by Supam Maheshwari and Amitava Saha, FirstCry is an omnichannel marketplace specializing in baby and kids products. The startup transitioned into a public company last year, marking the initial phase of its path towards being listed on the stock exchanges.

Meanwhile, the startup’s sales crossed the INR 5,000 Crore mark during the year under review. Operating revenue rose by 135% to INR 5,632.5 Crores in FY23 from INR 2,401.2 Crores in the previous fiscal year. It primarily earns revenue from the sale of baby care products.

Incorporating other income, the total income amounted to INR 5,731.2 Crores in FY23, marking a substantial increase of 127.7% from INR 2,516.9 Crores in FY22.

In FY23, FirstCry disclosed a total expenditure of INR 6,315.6 Crores, reflecting a surge of 146% compared to INR 2,568 Crores in FY22.

As an e-commerce marketplace, FirstCry’s major expenditure was attributed to its procurement cost. In FY23, the startup allocated INR 3,953.3 Crores to restock its shelves, marking a substantial 150% increase from INR 1,572.1 Crores in FY22.

FirstCry allocated INR 769.8 Crores for staff salaries, gratuity, PF, and other employee welfare benefits, marking a substantial 127% rise from INR 338.8 Crores in the preceding year. The notable increase indicates that the startup expanded its workforce during the layoff season. Interestingly, it disbursed INR 361.4 Crores on ESOPs, experiencing a remarkable surge of 292% from INR 92.1 Crores in FY22.

It witnessed a sharp increase in its transportation cost for the year under review. In FY23, the startup spent INR 429.2 Crores on transportation costs, reflecting a significant 604% increase from INR 61 Crores in the previous fiscal year.

Advertising costs surged by 55% to INR 416.4 Crores in FY23, compared to INR 268.6 Crores in FY22.

FirstCry’s EBITDA margin declined to -2.9% from 4.05% in FY22.

Maheshwari-led startup, backed by significant funding rounds totaling over $700 million and supported by investors including SoftBank, Chrys Capital, and Vertex Ventures, is poised to submit its draft red herring prospectus (DRHP) by the end of the month.’

According to media reports, FirstCry is seeking to secure $500 million to $600 million through its IPO, with a targeted valuation of $4 billion.

Continue Exploring: FirstCry plans to launch IPO, aims for a $500-600 Million funding round

A few months ago, three family investment offices – MEMG Family Office led by Ranjan Pai of Manipal Group, Sharrp Ventures of Harsh Mariwala from Marico, and the DSP family office of Hemendra Kothari – acquired stakes in the startup for approximately INR 435 Crores in a secondary round facilitated by SoftBank.

Advertisement

Mish Designs and Nykaa Fashion join forces for exclusive fashion line

0
Mish Designs

Mish Designs Limited has unveiled its latest collaboration with Nykaa Fashion, marking a step in expanding its retail presence. The collection is now available on Nykaa Fashion’s online platform, and the company has an exclusive space in the physical store located at Indiranagar, Bangalore.

The company stated that Nykaa Fashion, the fashion e-commerce branch of Nykaa, garnered widespread acclaim for its modern Western attire. This collaboration offers an opportunity to display its style and elegance within Nykaa Fashion’s recently established retail network.

Kaushal Goenka, co-founder at Mish, said, “We are thrilled to partner with Nykaa Fashion, a brand that shares our commitment to quality and innovation. This collaboration is an exciting leap into the world of retail, allowing us to connect with our audience in a more tangible way.”

The stocks experienced a 2.66% decline, reaching INR 129.95 at 2:28 pm on the BSE.

Advertisement

Clear Premium Water expands portfolio with acquisition of Kelzai Volcanic Water

0
Kelzai Volcanic Water

Clear Premium Water has announced its acquisition of a majority share in Kelzai Volcanic Water, renowned for its unique natural mineral water derived from volcanic springs.

This acquisition marks a notable milestone for Clear Premium Water, signaling its commitment to expanding its product range and spearheading innovation in the bottled water sector.

“Our association with Kelzai Volcanic Water underscores our dedication to meeting the increasing demand for natural mineral water. With the strategic plant location, we aim to reach a broader audience, leveraging Clear’s expertise, extensive network, and KELZAI’s established brand identity. This alliance is set to transform KELZAI’s market presence, ensuring remarkable growth and establishing dominance in the luxury water segment. This partnership enhances our natural mineral water offerings, positioning us to deliver exceptional value and impeccable service to our customers,” said Nayan Shah, the visionary Founder & CEO of Clear Premium Water.

The surge in high-end dining and the advent of distinctive culinary experiences has heightened the demand for natural mineral water.

Kelzai is poised to elevate the dining experience in these exclusive venues, catering to a broader luxury clientele in cafes, restaurants, institutions, multiplexes, hotels, and similar settings.

According to the acquisition agreement, Energy Beverages Private Limited, the parent company of Clear Premium Water, will exclusively manage the distribution and marketing of Kelzai Volcanic Water.

Harnessing its robust network and extensive nationwide presence in India, this collaboration underscores a shared dedication to delivering premium natural mineral water.

It commits to exceptional service and endeavours to enhance the market presence of both Clear Premium Water and Kelzai Volcanic Water.

The partnership between Clear Premium Water and Kelzai Volcanic Water signifies a notable transformation in the industry, presenting a potent combination of expertise, innovation, and unwavering commitment to sustainability and excellence.

This collaboration seeks to captivate the market and reinforce Clear Premium Water’s position as a dominant force in the bottled water sector.

Kelzai Volcanic Water is available in eco-friendly PET bottles ranging from 200ml, 500ml, to 1 liter, as well as in glass bottles sized at 300ml, 500ml, and 750ml.

Advertisement

FSCI’s data-driven approach aims to fill gaps in monitoring agriculture and food system progress

0
vegetables

The global assessment of food systems leading up to 2030, as recently released by The Food Systems Countdown to 2030 Initiative (FSCI), provides the first science-based monitoring to guide decision-makers in their efforts to bring about a comprehensive transformation of global agriculture and food systems.

This urgent transformation is necessary to diminish the environmental impact of these systems and alleviate the effects of climate change upon them.

The primary goal is to ensure that everyone, particularly those who are vulnerable, has fair access to nutritious diets through sustainable and resilient agriculture and food systems.

The UN Food Systems Summit spurred action in agriculture and food systems, yet policymakers frequently lack the necessary data to inform crucial decisions.

The FSCI has established a framework comprising 50 indicators to oversee global agriculture and food systems, utilizing existing data to facilitate prompt action. Repurposing existing data, instead of undertaking time-consuming new research, ensures that policymakers can swiftly access pertinent information.

Following this first global baseline, the FSCI will track agriculture and food systems annually until 2030, updating the framework as needed when new indicators or better data emerge.

Lawrence Haddad, executive director, Global Alliance for Improved Nutrition, said, “The first annual Countdown report shows that no single region has all the answers. Europe and North America do well on undernutrition but poorly on indicators of unhealthy diets. In contrast, Africa and South Asia do relatively well on some environmental indicators but poorly on indicators of livelihoods. The data show very clearly that every region has significant room for improvement.”

Agriculture and food systems are crucial in achieving all 17 Sustainable Development Goals (SDGs). However, the SDGs alone are inadequate for monitoring these systems. The FSCI aims to bridge this gap.

The transformation of agriculture and food systems is imperative for countries to fulfill their Nationally Determined Contributions. However, this remains a developing discourse: agriculture and food systems had a limited role in climate negotiations at COP27. They gained more prominence at the recent COP28, where over 150 countries endorsed the Emirates Declaration on Sustainable Agriculture, Resilient Food Systems, and Climate Action. They pledged to integrate agriculture and food systems into their climate plans by 2025, signifying very encouraging progress.

Continue Exploring: Over 130 countries commit to reducing carbon emissions in worldwide food system at COP28

Mario Herrero, professor and director of the Food Systems & Global Change Program at Cornell University, said, “You can’t manage what you don’t measure. That’s why we need a monitoring system that shows strengths and weaknesses at national, regional and global levels across all parts of agriculture and food systems. And this complete picture highlights successes that provide valuable lessons for others.”

The FSCI indicator framework is designed for the worldwide monitoring of the transformation of agriculture and food systems. It also provides a selection of indicators that can be employed to formulate policies and actions, as well as to guide customized monitoring systems to address the specific needs of individual countries.

José Rosero Moncayo, director of the Statistics Division at United Nations FAO, commented, “We are at the beginning of the process and there are still gaps in the data that we need to fill to ensure we are effectively monitoring progress across all dimensions of agriculture and food systems. Filling those data gaps is a top priority for ourselves, and the global science and policy communities concerned about the future of agriculture and food systems.”

Kate Schneider, research scholar, Johns Hopkins University School of Advanced International Studies and lead author of the paper, said, “Better data is urgently needed to monitor progress in food safety, off-farm livelihoods tied to agriculture and food systems, food loss and waste, agriculture and food systems’ economic contributions, governance, and agriculture and food system resilience.”

She continued, “The state of food systems worldwide in the countdown to 2030” organises agriculture and food systems monitoring into five themes: diets, nutrition, and health; environment, natural resources, and production; livelihoods, poverty, and equity; governance; and resilience. Each theme contains three-to-five indicator domains that together provide a comprehensive picture of agriculture and food systems.

Jessica Fanzo, professor of Climate and Director of the Food for Humanity Initiative at Columbia Climate School, concluded, “There is a growing urgency to transform agriculture and food systems to support healthy diets in sustainable and equitable ways, and to protect the environment. Our research sets the stage for a data-driven approach to address the challenges and seize the opportunities to create a healthier, more equitable and sustainable future for all.”

Advertisement