Flipkart Quick🚀, New Data Bill📜, WazirX's founders launch new ventures🎌
Flipkart launches 45-min grocery delivery, India may draft new Data Bill, WazirX’s Menon & Shetty launch their own ventures, Funding Deals & more.
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Flipkart launches 45-min grocery delivery, to expand next month⏳
Flipkart has started delivering groceries in 45 minutes in parts of Bengaluru through Flipkart Quick, which it had launched as a 90-minute delivery service in July 2020.
This comes as so-called quick commerce firms such as Blinkit, Zepto, Swiggy's Instamart and RIL-backed Dunzo are competing to deliver a range of products in 15-20 minutes.
Flipkart's 45-minute grocery delivery service is in line with the company's belief that 10-20 minute delivery isn’t the right model in the long term.
Quick commerce companies such as Swiggy’s Instamart and Zepto operate dark stores to facilitate the delivery of groceries in 15-20 minutes. These dark stores typically have a stock-keeping-unit (SKU) of 1,000-3,000 products per store. Flipkart will have a wider selection since the company takes longer to deliver.
India may draft new Data Bill from scratch📜
India may draft a completely new Data Protection Bill, people directly aware of the matter told, putting aside the current version of the Personal Data Protection Bill 2019. The bill, which has been in the making for nearly five years, does not comprehensively address the needs of India’s changing technology landscape.
One of the top concerns with the current bill is that it could hurt the country’s fledgling technology and startup ecosystem, senior officials said.
The bill was originally mooted in 2017 but there has been a “sea change in the local and global technology landscape” since then, people aware of the thinking within government circles said.
The IT sector has also told the government that the broad exemptions sought by lawmakers would adversely impact the fortunes of India’s $190 billion IT-BPM industry in the European Union.
Social commerce grocery startup DealShare has raised $45 million from a subsidiary of the Abu Dhabi Investment Authority (ADIA) as part of a larger round.
Agrim, a business to business (B2B) platform for agri-inputs has raised $10 million in a funding round led by Kalaari Capital.
Ace Green Recycling, a battery recycling technology company, has raised over $7 million in a funding round led by Circulate Capital.
Employee welfare insurtech startup, HealthySure recently raised $1.2 million in a funding round which saw participation from Campus Fund and networks like Inflection Point Venture, WeFounder Circle, Dexter Angels and HEM Angels.
WazirX’s Siddharth Menon & Nischal Shetty launch their own ventures, to step away from day-to-day operations🎌
WazirX co-founder and COO Siddharth Menon is launching his own venture Tegro – a Web3 ecosystem marketplace, along with game development firm SuperGaming. "Mobile games disrupted the games industry and Web3 games could be an even bigger disruption,” said Siddharth.
Menon, meanwhile, will step away from the daily operations of WazirX to focus on his new project.
Not just Menon, Nischal Shetty Founder, and CEO has also launched an open-sourced blockchain project, Shardeum, earlier this month.
Meanwhile, Shetty has refuted the speculations of him moving out from the company to focus on his new project. The WazirX CEO took to Twitter to say, “Getting queries if I’m transitioning out of WazirX. If I intend to, YOU will hear it from me first, and not from sources.”
WazirX is a cryptocurrency marketplace with over eight million users and billions in monthly volume. The firm was acquired by Binance in 2019.
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