Funding
Direct2U raises 1.8 Cr in Seed round
Ecommerce firm Direct2U has raised Rs.1.8 crore in a Seed Round led by Inflection Point Ventures (IPV).
The funds raised will be used for technology development, hiring, marketing and expansion plans.
Direct2U is a consumer durables marketplace that brings together lead generation, order fulfillment, cash (online transfer), and credit purchase options, along with the doorstep delivery for the demand-rich, underpenetrated rural Indian consumers in the deep rural pockets of Bharat. It operates on a business-to-business-to-consumer (B2B2C) model.
With partnerships with major brands like Samsung, Vivo, and Prestige, Direct2U offers a wide range of products to rural audience in Bihar, Madhya Pradesh, Karnataka, and Odisha. The company has implemented a unique OTP mechanism and visual proof of delivery to build trust with MFI partners. Since its revenue generation started in January 2023, Direct2U has experienced a growth of 12% in February 2023. The company has also expanded its operations and currently operates in these states with 23 warehouses.
Other news
WhatsApp launches new security features
Instant messaging platform WhatsApp recently launched a set of new security features to enhance the security and privacy of its users. These include Account Protect, Device Verification, and Automatic security codes.
One of the features is account protect which will do double-checks if users wish to switch to another device. The app will ask the old device to verify that the user wants to take this step as an extra security check. This feature can help alert you to an unauthorised attempt to move your account to another device.
Another feature called device verification will save the users from mobile device malware. The app has added checks to help authenticate the users’ accounts.
.thumbnailWrapper
width:6.62rem !important;
.alsoReadTitleImage
min-width: 81px !important;
min-height: 81px !important;
.alsoReadMainTitleText
font-size: 14px !important;
line-height: 20px !important;
.alsoReadHeadText
font-size: 24px !important;
line-height: 20px !important;
WhatsApp comes with a security code verification feature that ensures the user that they are chatting with the intended recipient. “To make this process easier and more accessible to everyone, we’re rolling out a security feature based on a process called “Key Transparency” that allows you to automatically verify that you have a secure connection,” WhatsApp said in a statement.
DNEG signs MOU to acquire Prime Focus Technologies
DNEG, a leading visual entertainment services company, has entered into a memorandum of understanding to buy Prime Focus Technologies (PFT), a cloud-based software and artificial intelligence (AI) technology for the media and entertainment (M&E) industry.
Acquiring PFT’s media workflow and automation software suite, CLEAR, and the purpose-built AI platform, CLEAR AI will enable DNEG to expand its media tech and distribution services, including fulfillment, localisation, and marketing. It will also allow DNEG’s client base to manage their content’s entire lifecycle with one trusted partner.
The proposed transaction is subject to customary due diligence, corporate approvals, and lender consent.
Prime Focus Limited, has offices located across North America, the United Kingdom, and India.
(The copy will be updated throughout the day with the latest news.)
Edited by Affirunisa Kankudti
