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Hyperlocal ecommerce platform LoveLocal to hire 300 employees by the end of FY2022-23

Hyperlocal ecommerce platform LoveLocal said it is planning to create 300 job opportunities by the end of FY2022-23 across product, engineering, and tech roles. The new hires will take the startup’s total headcount from 107 to 410.

The startup is looking to fill key roles, including Head of Engineering, Director of Product, and Senior Product Managers. About 150 of LoveLocal’s open positions exist in the product, tech, and data science segments.

The other 150 are across departments, including business intelligence, brand partnerships, fraud prevention, performance and brand marketing manager, finance, and more.

Launched in January 2020 by Akanksha Hazari, LoveLocal aims to empower local retailers and digitise the unorganised retail market. Since its inception, the startup has grown 40X. At present, it serves over 35 cities and 1300 pin codes across India.

Course5 Intelligence Limited files for IPO of up to Rs 600 crore

Pure-play data analytics and insights company Course5 Intelligence Limited has filed DRHP for its Initial Public Offering (IPO). The company is proposing an IPO of equity shares of face value of Rs 5 each (Equity Shares) aggregating up to Rs 600 crore (Offer).

The company proposes to utilise the net proceeds of the fresh issue towards funding: inorganic growth initiatives (Rs 75 crore), working capital requirements (Rs 70 crore), product and IP initiatives (Rs 50 crore), expansion of geographical footprint (Rs 30 crore), and general corporate purposes.

The Offer comprises a fresh issue of equity shares, aggregating up to Rs 300 crore and an Offer For Sale (OFS) of equity shares, aggregating up to Rs 300 crore.

The company is promoted by Ashwin Ramesh Mittal, Riddhymic Technologies Private Limited, Riddhymic Technoserve LLP, and AM Family Private Trust.

The OFS comprises equity shares by Ashwin Ramesh Mittal, aggregating up to Rs 32.5 crore; Riddhymic Technologies Private Limited, aggregating up to Rs 40 crore; Riddhymic Technoserve LLP, aggregating up to Rs 40 crore; AM Family Private Trust, aggregating up to Rs 112.5 crore (the Promoter Selling Shareholders), and equity shares by Kumar Kantilal Mehta, aggregating up to Rs 75 crore (the Other Selling Shareholder, and together with the Promoter Selling Shareholders, the Selling Shareholders).