Flipkart receives US$201m capital funding from parent entity

INDIA – Flipkart India, the wholesale arm of the Walmart-owned eCommerce marketplace in India, has received US$201.27 million (Rs 1,431 crore) from its Singapore-based parent entity Flipkart Private Limited. The fund infusion by Flipkart comes as the company seeks to fight off the challenge from Amazon to keep its leadership of India’s growing $18 billion…

Flipkart and Amazon appeal for more time to comply with new FDI policy

ASIA – Amazon and Walmart-owned Flipkart have appealed to the Indian government seeking more time to comply with the new Foreign Direct Investment (FDI) policy for ecommerce. The firms have requested an extension by up to six months to comply with the new regulation announced by the government in December last year that requires a…

Danone re-enters Indian dairy sector with investment in Epigamia

INDIA – The French dairy corporative, Danone through its Danone Manifesto Ventures, has acquired a stake in the Indian flavored and Greek yoghurt brand, Epigamia as part of a US$25.6m investment round. Epigamia, owned by Drums Food International Pvt. Ltd raised Rs 182 crore (US$25.6 million) in a Series C round led by Danone’s investment arm and…

Suntory invests US$16m in Lucozade to install high-speed bottle filler

UK – Japan’s food and drinks company, Suntory Beverage & Food has invested US$16.72 million (£13 million) in its UK-based subsidiary Lucozade Ribena Suntory to install a new, high-speed bottle filler. The new filler, installed at its factory in Coleford, Gloucestershire will produce 1.3 million bottles a day. The funding will be invested in new…

Walmart to hire 2,000 technology experts in ecommerce boost

USA – The American retail giant, Walmart Inc plans to hire 2,000 technology experts including data scientists, engineers and designers this year to bolster its ecommerce strength. A Bloomberg report indicated that the retail giant is looking for technology hires to work in nine offices from Silicon Valley to Bangalore. According to Walmart Chief Technology…

Kenya’s Tuskys sets up US$0.29 million online mall amid NSE listing plans

Kenya – Tusker Mattresses, one of the major Kenyan retailer, has invested US$0.29million (kshs 30 million) in setting up a virtual mall- Tuskys Online Store and a suppliers’ portal. The group’s chief executive Dan Githua said the cloud-based platform will enable customers shop for furniture, electronics, crockery, clothes, mobile accessories and home appliances among others…

Impossible Foods launches meat-free, gluten-free burger

USA – Plant-based food company, Impossible Foods has unveiled gluten-free, non-meat Impossible Burger set to launch in the grocery stores later this year. The next generation, one of its first major product upgrade is said to deliver great taste, nutrition and versatility. According to the company, the plant-based burger contains no gluten, animal hormones or…

KTDA net profit up to 58.8% as tea prices and sales increase

KENYA – The Kenya Tea Development Agency (KTDA) Holdings profit rose nearly 59%in the year ending June 30, 2018 as it records an increase in a global commodity prices and higher sales, reports Kenya Digest. The firm’s revenues as a result of higher sales rose by 13.4% to US$25.5million billion despite a much lower growth…

Dannon unveils new Activia Probiotic Dailies yogurt variants in US

USA – The world food products corporation, Dannon has unveiled two new flavors of its Activia Probiotic Dailies yogurt range featuring prebiotic fibre. According to the company, the new Activia Probiotic Dailies have billions of live and active probiotics, prebiotic fibre, added with real honey and lemon ginger. “These new products provide a new option…

FrieslandCampina completes acquisition of US cheese producer Best Cheese

USA – The Dutch dairy cooperative, FrieslandCampina has announced that it has finalized the acquisition of the activities of Best Cheese Corporation USA., importer and vendor of specialty cheeses in the United States. The acquisition of Best Cheese Corporation USA, New York based importer of Uniekaas Specialty Dutch Cheeses strengthens FrieslandCampina’s position on the American…