E-commerce

The development comes three weeks after the Mumbai-based beauty brand closed a USD 71.3 million Series C round to scale its business across the South Asian market.

Despite robust growth, Sea reported net losses to the tune of USD 433.7 million in the second quarter, up 10.2% YoY.

Since the pandemic hit India in March 2020, 30–35 million new customers began transacting online, taking the total online shopper base to 140 million.

Supermarket chains must explore new business lines to counter loss-making fresh food e-commerce upstarts.

Trendyol is the leading e-commerce platform in Turkey, serving 30 million shoppers and over 140,000 merchants in the country.

Amazon and Flipkart have been under scrutiny from Indian regulators for allegedly flouting the FDI rules that were established in late 2018.

The investment comes with a 10% non-compounding return guarantee from Tiki’s IPO.

The company will soon have its own product lines for groceries, general merchandise, and electronics.