Startup news and update: daily roundup (June 2, 2023)

YourStory presents the daily news roundup from the Indian startup ecosystem and beyond. Here's the roundup for Friday, June 2, 2023.

Startup news and update: daily roundup (June 2, 2023)

Friday June 02, 2023,

3 min Read

iDesign.Market secures $200K in pre-seed funding

SaaS startup iDesign.Market has raised $200,000 in a pre-seed funding round from Jaipur Rugs, and a consortium of angel investors including proptech experts such as Brigade REAP.

The capital will be utilised to bolster the company's technological infrastructure, expand the talent pool, and fuel its overall growth trajectory.

Founded in 2022 by Ashish Dhingra and Sunil Bhakuni, iDesign.Market offers a workflow management platform designed to facilitate team collaboration and streamline business operations for interior and construction companies.

WinZO concludes third round of ESOP liquidation

Online gaming startup WinZO has announced its third round of ESOP liquidation, providing an opportunity for eligible team members to partially liquidate their vested ESOPs.

The liquidation exercise is available for everyone who has served a minimum of two years within the company, encompassing approximately 25% of its current workforce, including all the early team members.

The startup executed its first and second ESOP liquidation programmes for its current and former teams in 2021.

PAG-led Sekhmet Pharmaventures appoints Anil Khubchandani as MD and CEO

A private equity consortium led by PAG has appointed Anil Khubchandani as Managing Director and CEO of Sekhmet Pharmaventures Pvt. Ltd.

Khubchandani has more than 30 years of experience in strategic partnerships, global sales and marketing, operations management, and research and development. In his most recent role, he served as co-CEO and Director of Jubilant Ingrevia Ltd.

Over his 20-year career at Jubilant Ingrevia, Khubchandani also served as a strategic business leader, developed high-performing teams, and oversaw solutions and offerings for pharmaceutical, agrochemical, and other industrial clients. 

Flipkart' Big EOSS sees participation from more than 10,000 brands and 200,000 sellers from across India

Homegrown ecommerce marketplace, Flipkart has announced its ‘Big End of Season Sale’ event, which will bring close to 200,000 sellers and more than 10,000 + brands together to bring a wide selection of fashion, beauty and lifestyle products to millions of customers across India.

Beginning June 1, 2023, the week-long event will give customers a differentiated shopping experience with the introduction of technology interventions such as image search, video catalogue, virtual try-ons, video commerce, and top filters.

Moreover, it has witnessed heightened interest in its digital-first brands. It continues to witness strong growth from emerging metros and Tier III and beyond regions for fashion. The sale will also extend its ‘buy now, pay later’ offer for its shoppers looking for easy accessibility options.

CLAN acquires 62% stake in London-based Creators Inc, launches Creativeland Studios

Creativeland Asia Network (CLAN) announced Creativeland Studio's acquisition of London-based Creators Inc in a total deal value exceeding three million pounds. CLAN aims to solidify its entry into international long and short content production and expand its global footprint.

Further, CLAN has launched Creativeland Studios to focus on the growth of its long and short-format cinema and TV content offering—focusing on creating, producing and distributing high-end films, documentaries, television series, and audio content. 

With this acquisition, Creativeland Studios has consolidated ten active slates, including two titles in production and now will have over 50 titles in its pipeline. 

(The copy will be updated throughout the day with the latest news.)

Edited by Megha Reddy