Redseer expects online festive sales GMV to touch $4.8 billion in first week; Fittr raises $11.5 million in 'Series A' funding

The festive season is right around the corner and Amazon and Flipkart's annual online festive sales are set to begin at the end of this week. While Flipkart had initially announced its Big Billion Day sale between October 7 and 12, Amazon had announced The Great Indian Festival sale from October 4. However, given the intense competition, both companies will now begin their sales on October 3.

Last week, Redseer had forecast that the online festive sales this year will clock a gross merchandising value of $4.8 billion in just the first week which would be a 30 percent growth year on year. To discuss this, CNBC-TV18 caught up with Ujjwal Chaudhry, the associate partner at Redseer.

Health and fitness community platform Fittr recently raised $11.5 million in a Series A funding round co-led by Dream Capital, the Corporate Venture Capital and M&A arm of Dream Sports, and Elysian Park Ventures, the private investment arm of The La Dodgers Ownership Group.