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1947 Rise ☀️: 344
CaratLane, Bansal, Bansal & more
1. Titan acquires further 27.18% stake in CaratLane for Rs 4,621 crore
Titan has agreed to buy a further 27.18 percent stake in online jewellery retailer CaratLane for Rs 4,621 crore in a deal that values the company at Rs 17,000 crore ($2B)
In what is the second biggest e-commerce exit after Walmart bought 77 percent in Flipkart for $16 billion in 2018 giving Sachin Bansal and Binny Bansal an exit, CaratLane founder Mithun Sancheti and his family have sold their stake in the online retailer.
CaratLane is an unlisted private company engaged in the manufacture and sale of jewellery and is a subsidiary of Titan
2. Mukesh Bansal eyes $50-mn investment from Peak XV Partners, Accel for premium fashion venture
Mukesh Bansal, who founded ventures such as Myntra and Cultfit, is in advanced stages to close a $50 million Series A round from marquee investors such as Peak XV Partners (previously Sequoia India) and Accel.
The new venture that Bansal is working on, along with Mohit Gupta, will be in the premium fashion space aimed at Gen Z, an increasingly attractive segment for e-commerce players. Gupta was previously the co-founder of Zomato where he led the company’s food delivery business, which helped sharpen his expertise in supply-chain.
Bansal on the other hand has had several e-commerce experiences. He started off with fashion portal Myntra and has also invested in Virgio, a Gen Z-focused fashion destination founded by Amar Nagaram, a former Myntra executive
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Worth your attention
Flipkart co-founder Binny Bansal plans new start-up in e-commerce space Link
India to have 500 million payment consumers, 100 million merchants soon: Paytm’s Vijay Shekhar… Link
Peak XV’s Shailendra Singh stresses on free cash flow, building right culture at founders retreat Link
Veda VC announces first close of $30 million fund Link
SoftBank sells its stake in IPO-bound FirstCry for ₹435 crore Link
Midas Touch: Inspired by Rakesh Jhunjhunwala, Mithun Sacheti to turn investor after CaratLane sale Link