The four-year-old company will use the proceeds to add various banking and financial products on the platform, which can be accessed by its last-mile customers.
The subscription-based online rental furniture platform, which provides furniture, home decor and home appliances on rent, has, since inception, served an estimated 110,000 customers, and is present in eight cities across the country.
The Action Covid Team Grants, which is possibly a first-of-its-kind initiative globally, has already received about 40% of its target corpus.
Firms say it may take a full year, at the minimum, for things to go back to normal
The amended Finance Bill, which was approved by Parliament on Monday, with effect from April 1, an equalisation levy of 2% will be applicable on sales made by foreign ecommerce companies operating in Asia’s third-largest economy.
The Delhi government had last week asked hotels in Aero City, near the city’s international airport, to manage and accommodate incoming travellers who were asymptomatic of Covid-19 but required to be isolated as a precautionary measure.
Everstone Capital, the Singapore-headquartered India-focused mid-market private equity firm, owns 99.39% stake in Burger King India, through its investment vehicle QSR Asia Pte Ltd.
Entropik’s online emotion intelligence SaaS platform, Affect Lab2.0, undertakes EEG brainwave mapping, eye tracking and facial expression analysis to support end-to-end consumer research for brands.
Venture Highway, Global Founders Capital and angel syndicates, CloudCapital, Better Capital, 100x Entrepreneur Fund and Sequoia Scout have also participated.
India is fast emerging as an important market for social storytelling platform Wattpad, as the Canadian startup targets partnerships with streaming platforms and publishers to increase its presence in Asia’s third-largest economy.
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