India Digest: Faasos app rebrands as EatSure; Walmart invests more in Flipkart

FILE PHOTO: The logo of Flipkart is seen on the company's office in Bengaluru, India, May 9, 2018. REUTERS/Abhishek N. Chinnappa/File photo

Cloud kitchen restaurant company Rebel Foods has rebranded its Faasos app as EatSure. In another development, Walmart has pumped additional $560.5 million in Flipkart as part of the $1.2 billion funding round announced in July.

Rebel Foods rebrands Faasos app as EatSure

Cloud kitchen restaurant company Rebel Foods has rebranded its Faasos app as EatSure.

The company is believed to have done this rebranding to reflect complete hygiene across its supply chain at a time when people are avoiding restaurant-cooked food fearing COVID-19 infections. The new identity is also a reflection of the brand’s surety about its ingredients, processes, and packaging, Entrackr reported.

The rebranding can be seen on the App Store, Play Store, and online food ordering platforms Zomato and Swiggy. Rebel Foods’ other brands include Behrouz Biryani, Mandarin Oak, Oven Story Pizza, and Lunch Box.

Walmart pumps $560m into Flipkart

American retail giant Walmart has pumped an additional $560.45 million in its Indian e-commerce unit Flipkart as part of the $1.2 billion funding round announced in July.

Flipkart has allotted 39,57,960 equity shares at $141.6 per share to Walmart in exchange for the aforesaid amount, Entrackr reported citing the company’s latest regulatory filings in Singapore. Qatar Investment Authority or QIA’s subsidiary INQ Holdings has also picked up 57,477 shares of the Indian company for $8.14 million.

Earlier this month, Chinese technology conglomerate Tencent Holdings Ltd had also made an investment of $62.8 million in Flipkart.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.