Bounce bags $20M funding

Daily Capsule

Thursday May 18, 2023,

5 min Read

Hello,

It looks like Ambani and Adani are preparing to chart a different course in Future (Retail).

Two of India's largest conglomerates—Reliance Retail and Adani Group—have opted out from the final bidding process for Future Retail, reported ET NOW. The report added that six final bids have been received for the company, with realty firm Space Mantra leading the pack.

Meanwhile, Walmart-owned Flipkart is experiencing a slew of top-level departures. Adarsh Menon, Senior Vice President (SVP) and Head of New Businesses, including Shopsy, Cleartrip, and ReCommerce, is said to be leaving the company.

Two other senior executives are also rumoured to be departing from Flipkart—Chanakya Gupta, VP of Strategic Partnerships and D2C Brand Accelerator (Flipkart Boost), and Ravish Kumar Sinha, SVP. Last month, Chief Architect Utkarsh B also quit after over a decade at the company.

In other news, Google believes its Play Store payments policy is CCI-compliant as the Alphabet Inc-owned company advances to implement it in India. The tech giant said that its 15% or less developer fees are among the lowest of any major app store.

Last but not least, an attempt to ‘demystify’ the myths around MSG.

In today's newsletter, we will talk about

Here's your trivia for today: Who was named the first Time Person of the Year (called Man of the Year or Woman of the Year until 1999)?

E-mobility startup Bounce is set to close its latest Series E funding round at $20 million, with participation from existing investor Sequoia Capital India and others. The startup has also set its sights on an IPO in the next couple of years, a source close to the matter told YourStory.

Not a winter:

On March 28, the TNPSC exam results were out, and no trans candidate made the cut. Subsequently, in April, which marks Dalit History Month, Dalit-trans activist Grace Banu began a campaign demanding horizontal reservation for trans people in the state.

She believes this is the only way to address the intersectional discrimination the community's youngsters face based on their gender, socioeconomic status, and caste as they enrol in public services.

Reservations first:

During the COVID-19 lockdown, sisters Dikshita and Ojasvi Sharma, with their mother Hema Sharma, launched a condiments and sauces business.

They began their entrepreneurial journey from home by making sauces, including arrabbiata and marinara for Italian dishes and Harissa, a North African spice, which led to the birth of the Mumbai-based sauce and condiment brand—Chilzo.

Spice and sweet:

Who was named the first Time Person of the Year (called Man of the Year or Woman of the Year until 1999)?

Answer: Charles Lindbergh in 1927. He made the first nonstop flight from New York City to Paris, a distance of 5,800 km, flying alone for 33.5 hours, one of the most consequential flights in history.

We would love to hear from you! To let us know what you liked and disliked about our newsletter, please mail [email protected].

If you don't already get this newsletter in your inbox, sign up here. For past editions of the YourStory Buzz, you can check our Daily Capsule page here.

Daily Capsule

Bounce

e-mobility

trans community

1

Interview

Actor-entrepreneur-investor Kunal Kapoor reveals how you can pitch to him

2

Funding

B2B sales startup Revsure raises $10M from Neotribe Ventures, Innovation Endeavors

3

AI Gen

Study Smarter, Not Harder: 10 Expert Tips for Effective Information Retention

4

AI Gen

Richard Feynman's Simple Technique to Learn Anything Effectively

5

HealthTech

How BrainSightAI is revolutionising diagnosis for neurological and psychiatric disorders