UAE's Alpha Wave invests in India-based EkAnek Networks

We show you our most important and recent visitors news details UAE's Alpha Wave invests in India-based EkAnek Networks in the following article

Hind Al Soulia - Riyadh - UAE's Alpha Wave invests in India-based EkAnek Networks

News • 14 September, 2020

Edit

Source: Yourstory

Delhi-based EkAnek Networks announced on Monday it has raised Rs 40 crore in its Series A1 investment round. The funding round was led by Alpha Wave Incubation (AWI), a $300 million venture fund managed by Falcon Edge Capital. Existing investors, Matrix Partners India, Sequoia Capital India, and Lightspeed India also participated in the round.

EkAnek Network is the parent company of recently launched beauty and grooming ecommerce startup, Foxy. The company said it will use the freshly raised funds to expand its presence in Abu Dhabi. The Emirate will be the global base for Foxy's international expansion to the GCA, MENA and other regional markets.

Additionally, EkAnek plans to hire and build a team of data scientists, product managers, and engineers in Abu Dhabi. Navroz Udwadia, Cofounder of Falcon Edge Capital, said in a release: "Foxy will offer mobile-first consumers a differentiated approach to supply, curation, and fulfilment of beauty products.

In addition, EkAnek’s unique B2B2C full-stack offering will drive tighter brand relationships with the platforms and consumers to offer consumers globally an unrivalled experience of beauty products.

EkAnek was founded by IIM Ahmedabad alumnus Kartik Sheth, IIT Delhi graduate Sachin Singhal, and IIT Kharagpur graduate Chandranshu in 2018.

Continue reading this story

These were the details of the news UAE's Alpha Wave invests in India-based EkAnek Networks for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at Wamda and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

PREV UAE to open more COVID-19 field hospitals in coming days
NEXT Hotdesk secures seed funding from ZVC