Latest news with #BinnyBansal
Entrepreneur
07-05-2025
- Business
- Entrepreneur
AI Kitchen Robotics Startup Posha Raises USD 8 Mn Series A Led by Accel
Xeed Ventures, Waterbridge Ventures, and angel investors such as Binny Bansal (co-founder of Flipkart), Asha Jadeja Motwani, and GreyOrange founders Samay Kohli and Akash Gupta also participated in the round. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. AI-powered kitchen robotics startup Posha has raised USD 8 million in a Series A funding round led by Accel, with participation from existing investors including Xeed Ventures, Waterbridge Ventures, and angel investors like Binny Bansal (Flipkart), Asha Jadeja Motwani, and GreyOrange founders Samay Kohli and Akash Gupta. The funds will be used to deepen Posha's AI capabilities, expand its recipe database, and enhance its user interface, as the company aims to revolutionize home-cooking for modern families. Founded in 2016 by Rohin Malhotra and Raghav Gupta, Posha—formerly known as Nymble—offers a fully automated cooking experience through its AI-enabled kitchen robot. Once ingredients are loaded, the robot takes over the entire cooking process, leveraging camera and thermal sensors for real-time monitoring and adapting recipes based on individual preferences. Designed for busy individuals and families, Posha's mission is to make healthy, personalised meals accessible without sacrificing time or taste. Its robot offers over 500 recipes across 10+ global cuisines, encouraging culinary exploration while maintaining the warmth of home-cooked meals. "Our motivation was driven by the need we saw. I grew up in a culture where love was expressed through home-cooked meals," said Raghav Gupta, Co-founder of Posha. "We wanted to create a solution that doesn't force people to sacrifice their professional careers or health for freshly cooked meals." Pratik Agarwal, Partner at Accel, noted, "Posha is tackling a persistent problem in modern households: how to get a healthy, home-cooked meal on the table when time is short. Their AI-driven approach is practical, well-designed, and represents one of the first tangible examples of AI directly addressing a genuine human need in a meaningful way." Currently priced at USD 1,500, Posha's kitchen robot is available for pre-order and includes 50 recipes. Users can also opt for a USD 14.99/month subscription for access to additional recipes, advanced customisation features, and the ability to request new recipes. Shipping is expected to begin later this year. With this fresh funding and growing consumer interest, Posha is positioning itself at the forefront of AI-powered culinary innovation.
Economic Times
06-05-2025
- Business
- Economic Times
Kitchen robotics startup Posha raises $8 million from Accel, others
Kitchen robotics startup Posha has raised $8 million in a Series A equity funding round led by venture capital firm Accel. The round also saw participation from existing investors including Xeed Ventures, Waterbridge Ventures, Flipkart cofounder Binny Bansal, venture capitalist Asha Jadeja Motwani, and GreyOrange founders Samay Kohli and Akash Gupta. The fresh capital will be used to expand Posha's recipe database, enhance its artificial intelligence (AI) capabilities, and improve the user interface and product availability, its cofounder Raghav Gupta said. Posha—formerly known as Nymble—has developed a countertop kitchen robot that automates the entire cooking process using computer vision, AI, and robotics. Equipped with cameras and thermal sensors, the robot can independently add ingredients, control heat, and adjust spice levels during cooking. Gupta told ET that the product is designed to address a problem increasingly common in urban households: lack of time to prepare fresh meals. 'In developed countries like the US, people try to be self-reliant, and the cost of services like food delivery or hiring a personal chef is super high—it's not as affordable as it is in India,' he explained. The company is currently focused on the US market and has not disclosed timelines for entering the Indian market. The device—priced at $1,500, or about Rs 1.26 lakh, in the US—began shipping in January. Users can opt for a $14.99 monthly subscription to access more recipes and customise meals, including requesting recipes not already available on the platform. It currently supports over 500 recipes across various cuisines and is developing a personalised recommendation system that adapts to individual taste preferences. Posha has a 50-member team, with a significant portion of its research and development operations based in Bengaluru. Robotics startups building for home kitchens remain a niche segment globally, but investor interest in the category has grown in recent years as AI and hardware costs have become more accessible. 'Posha is tackling a persistent problem in modern households: how to get a healthy, home-cooked meal on the table when time is short," said Pratik Agarwal, partner at Accel. "Their AI-driven approach is practical, well-designed, and represents one of the first tangible examples of AI directly addressing a genuine human need in a meaningful way.'
Time of India
06-05-2025
- Business
- Time of India
Ather IPO: Flipkart founders' early bet pays off as investors double gains despite muted debut
Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Promoters and major shareholders sold 1.1 lakh shares via the offer for sale (OFS), raising Rs 354.76 crore Amit Bhatia exited fully, selling his stake for Rs 59.48 lakh Hero MotoCorp, the largest shareholder with 30.9% stake (11.5 crore shares), did not sell in the IPO Current stake values post-listing: Tiger Global: Rs 585.66 crore NIIF: Rs 537.76 crore GIC: Rs 1,225.45 crore IIT Madras: Rs 45.9 crore Live Events Sachin Bansal and Binny Bansal invested Rs 3.1 crore each in Ather back in 2014. Sachin later pumped in Rs 400 crore in 2019 and 2020, but exited by selling to Hero MotoCorp and Zerodha's Kamath brothers, losing up to 20% in unrealised gains. Binny Bansal, who retained his shares, has seen his original investment grow to Rs 92 crore. Ather raised Rs 1,340 crore from anchor investors ahead of IPO, with SBI Mutual Fund contributing Rs 310 crore (23.1% of anchor book). Over 1,300 employees holding 1.65 crore shares under the 2024 esop programme saw wealth creation of around Rs 500 crore. Shares opened modestly higher: Up 2.18% on NSE Up 1.57% on BSE But closed lower due to market pressure: Rs 302.50 on BSE, down 7.22% Rs 300 on NSE, down 8.54% Promoters and early backers of Ather Energy , including Flipkart cofounder Binny Bansal GIC , and NIIF, have seen the value of their stakes more than double — even as the EV company 's shares slipped below listing price on debut. Despite a subdued market debut , the combined value of stakes held by Ather's promoters and key shareholders now stands at Rs 7,055.65 crore, or 2.2x their investment, as per ET calculations from the red herring group includes Tarun Mehta, Swapnil Jain, Hero MotoCorp , Tiger Global, GIC , NIIF, and IIT Madras, who collectively own about 62% of the company.
The Print
22-04-2025
- Business
- The Print
Flipkart to relocate its holding company from Singapore to India
Speaking on this development, a Flipkart spokesperson said, 'This strategic decision reflects our deep and unwavering commitment to India and its remarkable growth. We are inspired by the Government of India's strong vision and proactive initiatives in fostering a thriving business environment and ease of doing business, which have significantly shaped our journey.' New Delhi [India] April 22 (ANI): Flipkart, India's leading e-commerce platform has decided to relocate its holding company from Singapore to India. The home-grown e-commerce platform was founded in 2007 by Sachin Bansal and Binny Bansal, two IIT graduates, as an offline bookstore. It expanded and became a leading player in the Indian e-commerce market before being acquired by American retail giant Walmart in 2018 for USD 16 billion. The valuation of the company in 2018 was nearly USD 20 billion. On relocating to India, Flipkart's statement further says, 'This move represents a natural evolution, aligning our holding structure with our core operations, the vast potential of the Indian economy and our technology and innovation-driven capabilities to foster digital transformation in India.' Flipkart has over 100 million registered users, over 100 thousand sellers, and over 21 state-of-the-art warehouses across India. The e-commerce platform sees over 10 million page visits and over 8 million shipments per month. Currently, Flipkart works as a subsidiary of Walmart. Flipkart has subsidiaries like Myntra, eBay, Ekart, Jeeves, to name a few. Flipkart says the relocation will help the company to enhance its focus and agility in serving Indian customers but adds that the relocation is subject to requisite regulatory approvals 'As a company born and nurtured in India, this transition will further enhance our focus and agility in serving our customers, sellers, partners, and communities to continue contributing to the nation's growing digital economy and entrepreneurship. We are excited by the opportunities ahead and reaffirm our long-term confidence in India's future.' said Flipkart statement Recently Flipkart has started a hyperlocal 90-minute delivery service termed Flipkart Quick in services in few cities across categories including grocery, mobiles, electronics, and home accessories. The venture introduced items like fresh fruits and vegetables, as well as meats and milk on its platform. According to studies, the online retail industry market in India, is of a size of around USD 60 billion and it is estimated to reach USD 200 billion by the year 2026. (ANI) This report is auto-generated from ANI news service. ThePrint holds no responsibility for its content.
Hans India
22-04-2025
- Business
- Hans India
Flipkart to Shift Headquarters Back to India, Marking a Strategic Homecoming
In a significant development,Flipkart has announced that it is relocating its headquarters from Singaporeback to India. This decision marks a major strategic shift for the e-commercegiant and is seen as a move to realign with its roots and core operations inthe Indian market. Thecompany shared, 'this move represents a natural evolution, aligning ourholding structure with our core operations, the vast potential of the Indianeconomy and our technology and innovation-driven capabilities to foster digitaltransformation in India.' Flipkartemphasised that bringing its headquarters home would help sharpen its focus andagility in better serving Indian consumers, sellers, partners, and communities.'As a company born and nurtured in India, this transition will furtherenhance our focus and agility in serving our customers, sellers, partners, andcommunities to continue contributing to the nation's growing digital economyand entrepreneurship. We are excited by the opportunities ahead and reaffirmour long-term confidence in India's future,' a company spokesperson stated. Adding tothis, Flipkart also credited the Indian government's business-friendly approachas a key factor behind the move. 'This strategic decision reflects our deepand unwavering commitment to India and its remarkable growth. We are inspiredby the Government of India's strong vision and proactive initiatives infostering a thriving business environment and ease of doing business, whichhave significantly shaped our journey,' the spokesperson added. While therelocation is still awaiting regulatory approval, Flipkart's move echoes abroader trend among Indian startups. Companies like Zepto, Groww, and PhonePehave also returned their headquarters to India, often motivated by strongerlocal valuations and potential stock market listings. Foundedin Bengaluru in 2007 by Sachin Bansal and Binny Bansal, Flipkart began as anonline bookstore before expanding into fashion, electronics, and groceries. Itmoved its headquarters to Singapore in 2011 to leverage foreign investments andnavigate regulatory complexities. Walmart's $16 billion investment in 2018,acquiring a 77% stake, marked a milestone for both Flipkart and India'se-commerce landscape. Now, asFlipkart returns to its roots, it signals renewed faith in India's evolvingdigital economy.
