Xto10x posted a gross profit of US$7.3 million during the 15 months ended March 2023, an improvement from a loss of US$1.8 million in 2021.
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Deepak Mehrotra has over 30 years of professional experience, having also held leadership roles in Coca Cola and Bharti Airtel.
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Driven by favorable market conditions and homeground advantage, Indian startups are returning to their native country to set up their headquarters.
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The CCCS discontinued its probe in February after Delivery Hero announced that it ended talks on the potential sale.
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The Indonesian firm attributed the drop in net revenue to its strategy to optimize its TPV mix by focusing on more profitable product selections.
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Paywatch claims its solution can reduce employee turnover by up to 40%, improving a company’s productivity.
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Socio-economic hurdles and smaller market sizes make it harder for baby ecommerce startups to scale in Southeast Asia.
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The company, which launched in January, has partnered with The Working Capitol and Smart City Kitchens for the expansion.
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The fund, which is split into two schemes – venture debt and a shorter duration scheme – aims to raise US$250 million to US$300 million in total.
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The news comes a few months after the Chinese tech giant shelved IPO plans for another subsidiary, grocery arm Freshippo.
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