Flipkart-owned fashion etailer Myntra on Friday named Raghu Krishnananda as its new chief Technology Officer (CTO). Meanwhile, Coverfox’s co-founder and chief technology officer Devendra Rane, and chief executive officer Premanshu Singh have resigned.
Myntra names new CTO
Flipkart-owned fashion etailer Myntra on Friday named Raghu Krishnananda as its new chief technology officer (CTO).
Prior to joining Myntra, Krishnananda was the head of service platforms at Samsung Research Institute in Bengaluru. He has over two decades of experience in technology, leading teams in design, product development, technology strategy and programme management.
“Technology is the backbone of Myntra and plays a very important role in shaping our proposition. Raghu joins us at a very interesting juncture, where the larger emphasis is on consumer engagement through content, with technology as the enabler,” Amar Nagaram, head of Myntra, said in a statement.
Coverfox CTO, CEO resign
Insurance aggregator Coverfox’s co-founder and chief technology officer Devendra Rane, and chief executive officer Premanshu Singh are said to have resigned amid mounting worries regarding the future of the company, DealStreetAsia has learnt.
Their resignations come at a time when the company is struggling to raise funds as the current investors have reportedly refused to pour in more money. Moreover, the company’s plan to sell out to digital payments major Paytm could also not materialise.
The movement was first reported by Entrackr.
Glitterbug Technologies Pvt. Ltd, which owns online insurance platform Coverfox, has raised aggregate funding of over $45 million from a slew of prominent investors such as SAIF Partners, Accel Partners, NR Narayana Murthy’s Catamaran Ventures and International Finance Corporation till date.