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Walmart Set To Buy $800 Mn Worth Flipkart ESOPs
It is to be noted that Walmart is obligated to purchase 6,242,271 shares from Flipkart’s ESOP pool of 11,947,026 shares. The current employees will be allowed to liquidate their employee stock ownership plans (ESOPs) at $126-128 a unit, depending on the charges applicable.
Bengaluru-based Indian regional language social platform ShareChat has raised close to $100 Mn (INR 720 Cr) in a funding round that will boost its valuation to $460 Mn (INR 3,332 Cr). This is a 7x increase to its last valuation when the company raised $18.2 Mn in Series B funding.
Togedr has raised an undisclosed amount of funding from a group of US & UK-based startups. The investment was led by UK-based investor Anil Patel whose expertise lies in cloud architecture and scale, said Togedr CEO and founder Ashish Yadav, in a recent interaction with Inc42.
The government has decided to drop the first draft of ecommerce policy and set up a committee of secretaries to decide on a new set of recommendations. CAIT said that the policy is already delayed for more than three years and if dropped, it will be a blow to the fair trade practices in ecommerce
Bengaluru-based milk and grocery delivery startup DailyNinja has raised an undisclosed amount of funding from Mumbai-based venture capital firm Matrix Partners India. Existing investors including Bengaluru-based Sequoia India and Saama Capital also participated in this funding round.
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A state-owned public sector undertaking, Maharashtra State Electricity Distribution Company Limited (MSEDCL) plans to set up 50 new EV charging stations across the state within six months. Here’s a curated rundown of other important and related developments in the India and global EV Ecosystem this week.
Since its inception in 2015, Tesseract has launched three hardware and two software products in the MR, AR, and VR sectors — Methane, Holoboard, and Quark. The founder claims to have seven patents: one US, three international (130 countries), and three India patents. The startup has already introduced Holoboard and Quark in India, and hopes to enter Western markets soon.
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