Unnamed startup to be worth $100M🤠, Zomato & Swiggy to collect GST🍕, Life Lessons📜
Ex-Myntra CEO’s venture in talks to raise funds at $100 million valuation, Zomato, Swiggy to collect 5% GST, A new section Life Lessons, Funding Deals & more.
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Ex-Myntra CEO’s venture in talks to raise funds at $100 million valuation👗
Former Myntra CEO Amar Nagaram's startup is in advanced talks with investors such as Falcon Edge and Accel Partners to raise its first round of funding of $25-$30 million valuing it at $100 million. Nagaram worked at Flipkart for almost seven years before moving to Myntra as its CEO in 2019.
Myntra’s co-founder Mukesh Bansal, who now runs Cultfit and is a president at Tata Digital, will also invest in his personal capacity in Nagaram's startup -- a fashion tech platform-- sources aware of the matter said. If the deal goes through at a $100 million valuation, it will be among the most valuable startups in the idea stage.
The venture, which is as yet unnamed, will focus on customisation of consumer needs for fashion products. It will rely on the consumer-to-manufacturing model.
Chinese company Shein is among the first ones to execute this model, which helps reduce the cost of storing inventory while catering to specific needs of customers.
Zomato, Swiggy to collect 5% GST🍔
Food aggregators like Swiggy and Zomato will collect and deposit tax at 5 percent rate, a move that will widen the tax base as food vendors who are currently outside the GST threshold will become liable to GST when provided through these online platforms.
Currently, restaurants registered under GST are collecting and depositing the tax.
Also, cab aggregators like Uber and Ola will have to collect 5 percent Goods and Services Tax (GST) for booking two- and three-wheeler vehicles. Also, footwear irrespective of prices will attract 12 percent tax from Saturday.
The move came into effect on January 1. These are among the many changes in the GST regime that have come into effect in this new year 2022.
Groyyo, a business-to-business manufacturing and automation company, has raised $4.6 million in a seed funding round led by Alpha Wave Incubation.
Web3 platform Wall.app has raised over $1 million funding from Woodstockfund, Arcanum capital, Lancer capital and Lumos labs.
We Founder Circle (WFC), a founders-led early-stage start-up investment platform, have closed their first year with 33 startup investments to emerge as the second-largest early-stage investor of the year.
Introducing a new section Life Lessons📜: Amazing stories that teach you something you can use in your everyday life.
Everyone Has a Story in Life👁🗨
A 24-year-old boy seeing out from the train’s window shouted…
“Dad, look the trees are going behind!”
Dad smiled and a young couple sitting nearby, looked at the 24-year old’s childish behavior with pity, suddenly he again exclaimed…
“Dad, look the clouds are running with us!”
The couple couldn’t resist and said to the old man…
“Why don’t you take your son to a good doctor?” The old man smiled and said…“I did and we are just coming from the hospital, my son was blind from birth, he just got his eyes today.”
Every single person on the planet has a story. Don’t judge people before you truly know them. The truth might surprise you.
Tweet of the day🐥
Other Top Stories
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"Don't try to be perfect; Just be an excellent example of a human being."
- Anthony Robbins
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