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Quick commerce company <keyword id="19939134" type="General" weightage="100" keywordseo="Zepto" source="keywords">Zepto</keyword> on Friday said it has raised <keyword id="22130274" type="General" weightage="20" keywordseo="USD-665-million" source="keywords">USD 665 million</keyword> (about Rs 5,560 crore) in the latest funding round that valued the firm at USD 3.6 billion, almost triple than its worth a year back. The massive fundraise comes less than a year after the Mumbai-based startup raised USD 235 million at a valuation of USD 1.4 billion. The funding round saw participation from new investors like Avenir, Lightspeed, and Avra, alongside existing investors Glade Brook, Nexus, and StepStone, Goodwater, and Lachy Groom. "We've gone from 0 to 1 billion-plus in sales, or GMV, in 29 months, that is faster than any other internet company before us... Even on a base of over a billion dollars at this point, we are growing 100 per cent-plus year on year. And that for us is one of the big drivers of this fundraise," Zepto co-founder and CEO Aadit Palicha told PTI. Attributing the growth to the performance of the quick commerce firm, the young entrepreneur said, "This is largely because of the input excellence we've built across the supply chain. "Whether it is sourcing excellence, mother hub efficiency, line haul utilisation, or our last mile, the innovation that we've done, or forecasting, we're in this place where even as we've been able to grow, we've been able to drive efficiency to get the business to pretty much close to full operating cash flow positive today." He said the overall business is close to operating at break-even cash flow. Nearly 75 per cent of the company's stores are fully EBITDA positive as of May 2024, he said. "Over the next 12-18 months, although it might fluctuate, but we'll still be pretty close to operating cash flow positive, and the idea is to keep in that direction, get the business to a place where we can list next 9-12 months," he said. Zepto co-founder and CTO <keyword id="12442402" type="General" weightage="20" keywordseo="Kaivalya-Vohra" source="Orion">Kaivalya Vohra</keyword> said the firm plans to hire top talent across engineering, product, growth, finance, operations, and category management. "If you are looking for a high growth, high meritocracy and high intensity culture where you can convert hard work and ambition into disproportionate career growth, Zepto is the place for you," he said.

Zepto raises USD 665 million; Valuation nearly triples to USD 3.6 billion

Used car retailing platform <keyword id="366851" type="General" weightage="80" keywordseo="spinny" source="Orion">Spinny</keyword> on Tuesday announced its partnership with Indian sporting legend <keyword id="6354267" type="General" weightage="20" keywordseo="Sachin-Tendulkar" source="Orion">Sachin Tendulkar</keyword>. Tendulkar is a strategic investor in the company, as well as lead brand endorser. "Our country is becoming younger and our ambitions bigger. Entrepreneurs of today are creating solutions that cater to this ambition. I am very happy to be associated with Spinny - a team which aspires to create solutions the right way. The team has adopted timeless values to achieve excellence in their business - trust, transparency, and integrity," Tendulkar said in a statement. Welcoming Tendulkar as an investor, <keyword id="570594" type="General" weightage="20" keywordseo="Niraj-Singh" source="Orion">Niraj Singh</keyword> (Founder &amp; CEO) said, "His life and journey stand as a beacon for the values of tenacity and determination in the face of challenges. We strive to instil these abilities in everything we do and Spinny's outlook to solve real customer problems. Having him onboard with Spinny is absolutely heart-warming, and we are proud to welcome our newest captain of Squad Spinny, Sachin Ramesh Tendulkar." Recently, Spinny announced the closure of a $283 million funding from new and existing investors, taking its valuation to $1.8 billion and becoming another unicorn in 2021. The company said the raised capital would be utilised to bolster the customer experience, strengthen technology and product capabilities and build teams across functions. The Series E round was led by Abu Dhabi-based ADQ, <keyword id="526777" type="General" weightage="20" keywordseo="Tiger-Global" source="Orion">Tiger Global</keyword> and <keyword id="12698348" type="General" weightage="20" keywordseo="Avenir-Growth" source="Orion">Avenir Growth</keyword>, along with participation from existing investors <keyword id="12734221" type="General" weightage="20" keywordseo="Feroz-Dewans-Arena-Holdings" source="Orion">Feroz Dewan's Arena Holdings</keyword> and <keyword id="6448677" type="General" weightage="20" keywordseo="Think-Investments" source="Orion">Think Investments</keyword>, the company noted in a statement. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/adani-signs-worlds-largest-green-power-purchase-agreement-with-solar-energy-corporation-of-india/articleshow/88272877.cms">Adani signs world's largest green power purchase agreement with Solar Energy Corporation of India</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/investment/news/bored-apes-yacht-club-ties-up-with-animoca-with-metaverses-like-the-sandbox-decentraland-and-axie-inifinity-to-launch-p2e-nft-game/articleshow/88273162.cms">The company behind The Sandbox, Decentraland and Axie Infinity is now helping the Bored Apes Yacht Club launch its own P2E game</a>

Sachin Tendulkar invests in used car platform Spinny

<ul><li><keyword id="366851" type="COMPANY" weightage="20" keywordseo="Spinny">Spinny</keyword>, a <keyword id="40524" type="PERSON" weightage="20" keywordseo="Used-Car">used car</keyword> platform, has announced a new round of funding worth $108 million. </li><li>The latest fundraise was led by Tiger Global, which has also backed unicorns like Flipkart, Zomato, MakeMyTrip, and Byju’s. </li><li>The company says it intends to use these funds to boost its growth and expand its footprint across India. </li></ul>Used car platform Spinny has raised $108 million (approx. ₹807 crore) in a new funding round led by US-based investment firm Tiger Global as it looks to fund its growth and boost its technology and product capabilities. In addition to Tiger Global, another US-based investment firm Avenir Growth has also participated in the round, said the company in a statement on Monday. “The newly raised capital will be deployed towards further stepping up the customer experience, strengthening technology and product capabilities, deepening market penetration in existing markets, and building teams across functions,” the company noted in its release. Till date, Spinny has raised $230 million (approx. ₹1720 crore) in funds. The latest Series D round saw Tiger Global lead with an investment of $75 million (approx. ₹560 crore), while Avenir Growth ploughed in $20 million (approx. ₹150 crore). It had raised $65 million (approx. ₹486 crore) in April this year, with General Catalyst leading that particular fundraise. <cmsannotation type="cmsannotation" annotationid="Understanding Spinny and its business" comment="subhead" text="Understanding Spinny and its business">Understanding Spinny and its business</cmsannotation> Spinny is a dedicated used car platform – it allows users to buy and sell pre-owned cars and promises quality as it uses a 200-point checklist and verification process. The company currently operates in 11 cities in India, including Bengaluru, Hyderabad, Pune, Gurugram, Noida, apart from the 4 metros. In addition to facilitating purchase and sale of cars, the company also handles the paperwork and offers financing options, too. The COVID-19 pandemic has put the brakes on auto sales across segments, but the used car industry has only seen a marginal decline, says a recent <a href="https://www.moneycontrol.com/news/technology/auto/covid-19-fails-to-deflate-used-car-market-6749491.html">report</a>. And with the second wave unlocking almost done, the used car market is all set to recover faster than new sales, says a GlobalData <a href="https://www.globaldata.com/used-car-market-recover-faster-new-sales-post-covid-19-second-wave-unlock-india-says-globaldata/">report</a>. A recent <a href="https://auto.economictimes.indiatimes.com/news/aftermarket/indian-used-car-market-to-touch-usd-70-8-billion-by-2030-report/82732254">report</a> by P&amp;S Intelligence suggests that the used car market in India will cross the $70 billion mark by 2030. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/whatsapp-multi-device-beta-how-to-download/articleshow/84542073.cms">WhatsApp multi-device beta – here’s how it works and how you can get it</a> <a href="https://www.businessinsider.in/careers/news/it-engineers-web-developers-students-can-take-benefits-of-state-government-internships/slidelist/84519217.cms">IT engineers, web developers and more — State governments are inviting applications for paid internships</a> <a href="https://www.businessinsider.in/tech/news/allegations-of-surveillance-on-specific-people-has-no-concrete-basis-or-truth-says-indian-government/articleshow/84540541.cms">Allegations of surveillance on specific people has no concrete basis or truth, says Indian government</a>

Used car platform Spinny raises $108 million to fund growth and expand its presence across India

Used car retailing platform <keyword id="366851" type="General" weightage="20" keywordseo="spinny" source="Orion">Spinny</keyword> on Tuesday announced the closure of a $283 million funding from new and existing investors, taking its valuation to $1.8 billion and becoming another unicorn in 2021. The company said the raised capital would be utilised to bolster the customer experience, strengthen technology and product capabilities and build teams across functions. The Series E round was led by Abu Dhabi-based ADQ, Tiger Global and Avenir Growth, along with participation from existing investors Feroz Dewan's, Arena Holdings and Think Investments, the company said in a statement. "We set afoot to build Spinny with a customer first approach - solving for lack of trust in car buying and selling experience, with a highly personalised and detail-oriented approach. Leveraging technology, our focus is to further strengthen our quality and experience control capabilities," said Niraj Singh, Founder and CEO, Spinny. The latest round includes a primary capital infusion of $250 million and a secondary sale of $33 million by select investors. The additional funding takes the overall funds raised by Spinny till date to more than $530 million. Founded in 2015, Spinny operates across the entire value chain of pre-owned cars, embedding superior technology and processes to deliver a premium experience to customers. Currently, Spinny has 23 car hubs that operate across 15 cities. Nearly 40 Indian startups have made it to the unicorn club this year alone, raising more than $38 billion. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/indigo-stock-gains-as-a-plea-to-shut-down-spicejet-has-been-admitted/articleshow/88138734.cms" data-type="tilCustomLink" style="">Indigo stock gains as a plea to shut down SpiceJet has been admitted</a> <a href="https://www.businessinsider.in/business/news/zoho-is-selling-its-video-calling-app-in-as-many-ways-as-possible/articleshow/88137006.cms" style="">Zoho is selling its video calling app in as many ways as possible</a> <a href="https://www.businessinsider.in/india/news/these-are-the-states-with-confirmed-cases-of-omicron-covid-19-strain-in-india/slidelist/88138240.cms" style="">Omicron in India — Maharashtra and Rajasthan have recorded 19 positive cases so far</a>

Spinny is the latest used car platform to join Cars24, Droom and CarDekho in unicorn club

<ul><li>The used car retailing company will be recruiting 5,000 people by the end of next year 2022.</li><li>The company will be hiring from management trainees to senior managers across the tech, product, marketing and operations segments.</li><li><keyword id="366851" type="General" weightage="20" keywordseo="Spinny" source="Orion">Spinny</keyword> hired most of the current employees in the month of October this year.</li></ul>Spinny, which is a used car marketplace, is looking to hire 5,000 individuals by the end of 2022 to expand its footprint in the Indian market and take on tough competition coming from Cars24, Droom and others. The company plans to nearly double its workforce from 4,000 to 9,000 people. The company has vacancies across multiple jobs roles like management trainees to senior managers across the tech, product, marketing and operations segments. The announcement comes only a few days after it raised<a href="https://www.businessinsider.in/business/startups/news/spinny-is-the-latest-used-car-platform-to-join-cars24-droom-and-cardekho-in-unicorn-club/articleshow/88140551.cms"> $283 million funding from marquee investors</a> like Abu Dhabi-based ADQ, Tiger Global, Avenir Growth and others. The company was valued at $1.8 billion in this funding round, making its entry into the <keyword id="3009432" type="General" weightage="20" keywordseo="unicorn-club" source="Orion">unicorn club</keyword>. A part of that funding will be used to fund Spinny’s hiring plan. “Every new member of squad Spinny- and more driven individuals will join their ranks in 2022, know their role - to continue to build up this hard-earned trust,” said Niraj Singh, founder and chief executive officer (CEO) of Spinny. The used car platform hired most of its employees in the month of October this year, the company highlighted in a press release. According to their human resource data, 61% of their current employees are working from north India, 20% from south India and 19% from the west side of the country. Spinny was founded in 2015 by Niraj Singh, Mohit Gupta, Ramashu Mahaur and Ganesh Pawar. The company operates across the entire value chain of pre-owned cars, embedding superior technology and processes to deliver a premium experience to customers. The company has raised more than $530 million to date. On December 14, the company also announced its partnership with the cricket icon Sachin Tendulkar, who is the strategic investor in the company as well as lead brand endorser. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/these-countries-have-less-than-5-days-work-week-and-india-may-join-the-list-soon/slidelist/88448480.cms">These countries have less than 5 days work week and India may join the list soon</a>

Used car selling platform Spinny to hire over 5,000 people by the end of 2022

<ul class="summary-list"><li><keyword id="3318" type="PERSON" weightage="60" keywordseo="Rihanna">Rihanna</keyword>'s <keyword id="460" type="COMPANY" weightage="60" keywordseo="lingerie">lingerie</keyword> brand, <keyword id="7627243" type="UNKNOWN" weightage="60" keywordseo="Savage-X-Fenty">Savage X Fenty</keyword>, is reportedly seeking to raise $100 million in funding, according to <a href="https://www.nytimes.com/2020/12/14/business/dealbook/roblox-tech-ipos.html">The New York Times' DealBook newsletter</a>.</li><li>The financing may be used to expand in Europe and launch a new line of athletic wear, the Times reports. </li><li>Launched in May 2018, Savage X Fenty has drawn praise for its attention to size, race, and gender inclusivity. The company generates roughly $150 million in revenue, according to the Times.</li><li>In February, however, the company was the subject of a complaint with the Federal Trade Commission over its advertising practices.</li></ul>Rihanna's lingerie brand, Savage X Fenty, is reportedly seeking to raise $100 million in funding in order to expand into athletic wear.According to <a href="https://www.nytimes.com/2020/12/14/business/dealbook/roblox-tech-ipos.html">The New York Times' DealBook newsletter</a>, the company has hired <keyword id="6361649" type="UNKNOWN" weightage="60" keywordseo="Goldman-Sachs">Goldman Sachs</keyword> to raise the new round of funding, which may be used to expand in Europe and launch the new line of athletic clothing. The new round of funding could give Savage X Fenty a valuation of $1 billion, the Times reports. A spokesperson for Savage X Fenty did not immediately respond to Business Insider's request for comment.Savage X Fenty, which was founded by Rihanna in May 2018, has raised over $70 million to date, with backing from Marcy Venture Partners - Jay-Z's venture capital firm - ACME Capital, TriplePoint Ventures, and Avenir Growth Capital. The brand generates roughly $150 million in revenue but is not profitable, according to the Times. The company's soaring success is due in part to Rihanna's celebrity, but the brand has also <a href="https://www.businessinsider.com/rihanna-lingerie-savage-fenty-diverse-inclusive-2018-5?r=UK">drawn praise for its attention to inclusivity</a>. Savage X Fenty carries lingerie in sizes up to 3X and includes "nude" color options for its apparel in a wide range of shades.The company's annual fashion show, which is streamed on Amazon Prime Video, consistently <a href="https://www.insider.com/rihanna-savage-x-fenty-show-versus-victorias-secret-2019-9">includes a diverse cast of models</a> with varying body types and gender expressions, which provided a stark contrast to the mostly thin, white models cast in the now-canceled fashion show for the brand's main competition, Victoria's Secret. But in February, Savage X Fenty was the subject of <a href="https://www.truthinadvertising.org/wp-content/uploads/2020/02/2_10_20-TINA-ltr-to-FTC-re-Savage-X-Fenty_Redacted.pdf">a complaint</a> filed with the Federal Trade Commission accusing the brand of "deceptive marking" after shoppers complained about its VIP membership program. The complaint alleged that Savage X Fenty had violated consumer protection regulations by promoting discounts that are only available for customers who pay a $50 monthly membership fee. A spokesperson for the brand <a href="https://www.nytimes.com/2020/02/11/business/rihannas-savage-x-fenty-deceptive-marketing.html?referringSource=articleShare">said at the time</a> that the complaint was "based on misconceptions of our business."

Rihanna's lingerie brand, Savage X Fenty, is reportedly looking to raise $100 million for an expansion into athletic wear

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">BuickA new brand.</div></div></div>For a hundred years, General Motors was defined by its brands: Chevrolet, Pontiac, Oldsmobile, Buick, GMC, Cadillac. Later, Saturn, Saab, and Hummer joined the portfolio.But the lead-up to the financial crisis and the Great Recession itself, driving GM into bankruptcy, saw Pontiac, Oldsmobile, and Saturn vanish, while Hummer and Saab faded away.This was actually a plus for GM, as supporting all those brands had become a drag on the business. Since coming out if bankruptcy, however, GM has discovered that it can develop new brands without having to promote them and market them as such.On Friday, the automaker's Buick division announced that it has created a new sub-brand, "Avenir." That's the French world for "future," and it takes it cue from a concept car that Buick unveiled in 2015."Through the first half of 2016, Buick has been the industry's fastest-growing major international brand, and Avenir is key to future growth and delivering on the high expectations of new customers coming to our showrooms," Duncan Aldred, Buick's boss, said in a statement."Avenir will be Buick's signature. The highest expression of the luxury experiences we're delivering now and in the future."<div class="KonaFilter image-container display-table"><div><div class="image on-image"> REUTERS/Rebecca Cook The Avenir concept car.</div></div></div>According to the car maker, "Avenir vehicles will add distinct touches to Buick's timeless, sculpted designs, including a three-dimensional mesh grille, large-diameter wheels, and unique trim finishes." Interiors will also be upgraded.The inspiration for this brand-within-a-brand idea at Buick has come from stablemate GMC. Dealers often sell both brands, and the Denali designation for GMC vehicles has become a de facto premium nameplate, with sales prices approaching those traditionally captured by better-known luxury brands, such as Range Rover.Creating Avenir as a sub-brand also avoids GM's perpetual problem of brand management. The automaker has always struggled with a business model that required brands to capture customers in different market segments, but that also eventually sees the lines between those brands blur.It's probably better to think of Avenir as a sort of super-trim-level, with premium pricing attached. The move also proves decisively that Buick is back. GM considered killing the brand - the original GM marque - as the Great Recession loomed. GM's China business depended on Buick, however, so the brand had to be fixed at home. The arrival of a new crossover SUV, Enclave, rescued sales at an opportune moment.The creation of Avenir is a good indication that Buick is going to be around a lot longer. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/tesla-motors-software-update-remotely-hacked-model-s-2016-9">Tesla made a big software update after a Chinese company remotely hacked the brakes of a Model S</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="kwNzYxNjE6fcpCIJ2mfm2ApVlpbpZWmM" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

You Searched For "Avenir Growth" and got 7 results

Zepto raises USD 665 million; Valuation nearly triples to USD 3.6 billion

PTI

Sachin Tendulkar invests in used car platform Spinny

IANS

Used car platform Spinny raises $108 million to fund growth and expand its presence across India

Rounak Jain

Spinny is the latest used car platform to join Cars24, Droom and CarDekho in unicorn club

IANS

Used car selling platform Spinny to hire over 5,000 people by the end of 2022

Vaamanaa Sethi

Rihanna's lingerie brand, Savage X Fenty, is reportedly looking to raise $100 million for an expansion into athletic wear

Avery Hartmans

GM just quietly created a new car brand

Matthew DeBord

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