This week saw a flood of early-stage funding coming to startups, with more than six startups receiving funding.
But in the past few weeks, the situation has seemed to be grim, with bigger startups running out of cash and firing employees. But infused funding in smaller startups might change the sentiment of the ecosystem.
With some interesting shuffles this week, the following are the headlines which caught our attention on the personnel movements:
1) Housing.com elevates Mani Rangarajan to Chief Business Officer
With multiple sources claiming that Housing might be running out of cash, it is not far behind in making shuffles to save the business. Today, the real estate platform announced the elevation of Mani Rangarajan as the new Chief Business Officer (CBO).
In his new role, Mani will lead the real estate developer and broker sales efforts for the company, amongst other responsibilities.
A Silicon Valley veteran with over 20 years of experience, Mani has worked with companies such as Yahoo and Citigroup in the past.
2) Vijay Ghadge joins as COO of Snapdeal's captive logistics unit Vulcan Express
The former Chief Operating Officer (COO) of e-commerce logistics company Go-Javas, has made a shift to Snapdeal’s captive logistics unit, Vulcan Express and joined as the firm’s COO.
The news comes at a time when the e-commerce marketplace is rumored to be planning to acquire GoJavas. Snapdeal already reportedly holds a 42 percent stake in GoJavas.
3) Lenskart appoints top level executives with expansion in mind
On Tuesday, the news came out that online retailer Lenskart has made five senior level appointments since the beginning of 2016.
Former Rocket Internet employee, Sambuddha Bhattacharya, joined Lenskart as Vice President in March. Sambuddha is a graduate from Kellogg School of Management and also co-founded an online marketplace for real-life courses and workshops in India called ShillHippo.
Sources also say that ex-director-HR at Kimberly Clark Lever, Calvin Lyngdoh, had also joined Lenskart as Chief Human Resources Officer earlier this year. Calvin has also worked with companies like Nokia India and Cadbury India.
Other hiring includes Sunil Menon GR, who had joined the online retailer as the Vice President-Retail Operations for offline business in January.
4) LeEco India hires Qualcomm veteran Jaiteerth Patwari as R&D Head for LeMall
The global internet conglomerate is reported to be swiftly bolstering its leadership team in India. The latest addition to its top management is Jaiteerth Patwari, from leading mobile processor supplier Qualcomm.
In his new role Jaireeth will set up and head the Development Centre at LeMall India, the company’s online shopping site in the country. He had spent 14 years of his career at Qualcomm, developing award-wining patents recognized by the U.S. Patent and Trademark Office.
But with companies being always on the lookout for interesting talent, it is an exciting time to watch the smaller startups, which might use their investments to rope in expertise for their teams.
Tarush is driven towards delivering unbiased and accurate reportage while engaging with as many mediums as possible to narrate a fresh perspective. Working for the past few years in the digital space with YourStory, he has covered the Indian technology ecosystem extensively, focusing on new age Fintech companies, while building strong connects within the industry.