growX Ventures Fund has partially exited its investment in spacetech startup Pixxel, while Myntra has launched Myntra Global.
growX partially exits Pixxel
growX Ventures Fund, an early-stage venture capital firm focused on B2B startups, on Tuesday announced that it has partially exited its investment in spacetech startup Pixxel.
According to the firm, the exit has generated a remarkable 17x multiple on invested capital (MOIC) and a 68% internal rate of return (IRR) over a holding period of 5.5 years.
“When we invested in Pixxel in 2019, there was no playbook for deeptech in India—no exits, no benchmarks, and certainly no road map for building a full-stack spacetech company. But the idea was audacious, and the clarity was unmistakable—from a 2050 vision to the first 50 hires already mapped out. This wasn’t a category you could hedge or pivot out of. We believed in the ambition and the discipline behind it,” said Sheetal Bahl, partner at grow X Ventures Fund and Merak Ventures.
Since growX Ventures’s early investment, Pixxel has raised $95 million across nine rounds, including a $24-million Series B extension in December 2024 from GIC, Google, Radical Ventures, and Seraphim.
growX Fund I, with a corpus of $25 million, has so far invested in 17 B2B technology startups across sectors like deeptech, fintech, SaaS, and healthtech.
Myntra launches in Singapore
Flipkart-owned Indian fashion and lifestyle e-commerce platform Myntra on Tuesday announced its foray into the international market with the launch of Myntra Global to tap the Indian diaspora.
The company has commenced operations in Singapore, already drawing approximately 30,000 organic users from the region to its existing platform. In the initial phase, the company aims to capture 12-15% of the Indian consumer base residing in Singapore.
The Myntra Global website will showcase around 35,000 styles from over 100 Indian brands, spanning categories such as apparel, footwear, home, and accessories. The lineup includes prominent brands like Aurelia, Global Desi, The Label Life, House of Pataudi, Anouk, Bombay Dyeing, Rare Rabbit, and Nasher Miles.
