This investment comes at a crucial time as Flipkart embarks on its next phase of digital commerce, aiming to make online shopping accessible to the most remote corners of India. This initiative aligns with the brand’s commitment to contributing to  #DigitalIndia.

Commenting on the emerging collaboration, Rajneesh Kumar, Chief Corporate Affairs Officer, Flipkart Group, posted on his LinkedIn handle, ‘‘We look forward to an impactful collaboration that will fulfill our business goals, boost innovations, drive economic growth, and contribute to #DigitalIndia. This partnership will also create new jobs as digital commerce and supply-chain infrastructure are strengthened.’’

This collaboration aims to accelerate digital commerce and economic growth in India while supporting the country’s broader digital transformation goals.

The post Google to Invest in Flipkart, Driving Digital India Initiatives appeared first on Business of Food.

The newly raised capital will be primarily allocated to brand building and marketing initiatives. It will also focus on enhancing working capital, driving new product development, and hiring key leadership personnel for the next phase of growth.

Talking about the new investment, Ravi Kabra, CEO and Co-Founder, Skippi, said, “This funding is a big step for Skippi as we work to become a top FMCG brand in India. We are very thankful for the support from our investors, including our valued sharks. With this money, we will focus on building our brand, creating new products, and bringing in great talent to our leadership team.”

Skippi garnered investments from all six sharks—Aman Gupta, Ashneer Grover, Anupam Mittal, Namita Thapar, Vineeta Singh, and Piyush Bansal—during Shark Tank India Season 1. The jury collectively invested Rs 1.2 crore for an 18% equity stake. Since then, Skippi’s growth has been remarkable, with monthly revenues increasing 80 times from their initial figures of Rs 5-7 lakhs.

Commenting on the investment, Dr. Apoorva Ranjan Sharma, Co-founder, and Managing Director. Venture Catalysts, said, “Venture Catalysts invested in Skippi Ice Pops, capitalizing on the rapid growth of India’s frozen dessert sector, which is expected to reach USD 2.4 billion by 2027. Their strong brand presence and rapid growth make them an attractive investment opportunity. This strategic move aims to boost Skippi’s market presence and innovate within a booming industry driven by rising disposable incomes and changing consumer preferences.”

As Skippi continues to grow, it remains committed to its mission of bringing cheer with its diverse product range. The company aims to expand its presence further and positively impact the FMCG sector in India

The post Skippi Raises Rs 10 Crore in Pre-Series A Round appeared first on Business of Food.

With this new infusion from Z3Partners, Wow! Momo’s total Series D funding now stands at Rs 480 crore. Out of this amount, Rs 270 crore was a primary infusion, while Rs 210 crore came from a secondary purchase of shares from early investors—the Indian Angel Network and Lighthouse Funds.

Since its inception in 2008, Wow! Momo has amassed over Rs 625 crore in external funding. Notable investments include ₹40 crore from Lighthouse Funds in 2017 and Rs 120 crore from Tiger Global Management in 2019, as per the media report. 

The company has three distinct brands—Wow! Momo, Wow! China, and Wow! Chicken. Wow! Momo has a widespread presence with over 300 outlets across 17 cities in India.

The post Wow! Momo gets Rs 70 crore funding in extended Series D round appeared first on Business of Food.