Increff bags $3 million from Binny Bansal

Increff, Bengaluru-based supply chain management startup founded by former Myntra executives, has raised around $3 million in Series A funding round led by Binny Bansal, Flipkart co-founder, and 021 Capital, a venture capital firm. Founded in 2016, the startup secured seed funding of $2 million from marquee venture capital firm Sequoia Capital in 2017.
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Market abuse

CCI rejects claim over Flipkart and Amazon abusing market position in India

A case brought by the All India Online Vendors Association (AIOVA), which represents more than 3,500 online sellers, complained that Flipkart was using its dominant position to favour select sellers - an argument the CCI rejected. Amazon and its rival in India, the Walmart-owned Flipkart, did not break regulations through their selection of merchants and brands, the Competition Commission of India
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Mobile Payments Startup PhonePe Has Big Goals Beyond Parent Flipkart

Mobile payments startup PhonePe, which Flipkart bought last year, has set its sights high this year. In the process of launching the country’s first Unified Payments Interface-supported wallet for iOS, the startup is already aiming for a 100 million downloads by the end of 2017. The Android app has also received a facelift, complete with support for nine local languages.
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Flipkart May Finally Have A Decent Payments Solution To Take On Paytm, Snapdeal

Flipkart finally launched its own digital wallet PhonePe this week. The wallet officially started working on subsidiary Myntra today. Flipkart tied up with India’s Yes Bank to launch India’s first unified payments interface-based mobile payments app. PhonePe will be operating as a separate business unit, and bridges a key payments gap the company was struggling with all this while.
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Flipkart Launches ‘Flipkart Assured’ Quality Badge To Improve Delivery Times, Keep Product Quality In Check

In a move to better the overall consumer experience on its website, and also lessen those ‘fake/non-genuine product’ complaints, Flipkart has launched a ‘Flipkart Assured’ quality badge for a certain range of products on its website. This programme launched for all customers across India, ensures that high-quality products are delivered in the fastest time possible.
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Flipkart Reduces Product Return Window For Top-Selling Categories To Just 10 Days

Flipkart has today announced its newly revised return policy on most top-selling products on the platform. In the new policy, the company narrowed the window for returning products from 30 days to just 10 days. The new return policy will be applicable on categories such as electronics, books, and mobile phones, which are the major category for sales on Flipkart.
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Flipkart’s Value Drops From $15 billion To $11 billion

One of Morgan Stanley’s mutual funds has marked down by 27 percent the value of its investment in Flipkart, a high-flying Indian e-commerce firm. This latest reduction by Morgan Stanley represents a significant decline from Flipkart’s value of $142.24 per share in June 2015 and $117.96 per share in December 2014. Flipkart has raised more than $3.5 billion in funding so far.
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