Foodtech major Zomato eyes post-IPO valuation of Rs 64,365 crore; to launch online grocery soon on its app
Zomato is eyeing a post-issue valuation of Rs 64,365 crore, on a fully diluted basis, if its shares are priced at the higher-end of its Rs 72-76 range, the food delivery company said in a press briefing on Thursday.
It added it was actively experimenting in the online grocery space, especially after its investment in Grofers, and will launch online grocery services on its app soon.
Zomato prices IPO between Rs 72-76 apiece, aims to raise Rs 9,375 Cr
Zomato has priced the initial public offering of its shares between Rs 72-76 apiece, up from the expected Rs 70-72, which will help it raise Rs 9,375 crore, the food delivery behemoth said on Thursday. The subscription will open on July 14 and close on July 16, it added.
What does Tiger Global’s $144M investment in DealShare mean for Bharat startups
DealShare — a Jaipur-based social commerce platform — on Thursday said US-based VC Tiger Global invested $144 million, along with WestBridge Capital, Alpha Wave Incubation, and Z3 Partners.
The round also saw participation from existing investors, including Matrix Partners India, DST Global, and Alteria Capital, while Avendus was the exclusive financial advisor for this transaction.
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Founding team of DealShare
” align=”center”> Founding team of DealShare
Scooter production to begin soon, says Ola CEO Bhavish Aggarwal
Ola will soon commence the production of electric scooters at its factory in Tamil Nadu, Ola Group CEO Bhavish Aggarwal said on Wednesday.
“Almost there! Scooter production to begin soon! Get on the waitlist and #JoinTheRevolution,” Bhavish tweeted.
Amazon India launches first ‘Digital Kendra’ for MSMEs in Surat
In a bid to further its efforts to digitise small and medium businesses (SMBs) in India, Amazon India announced the launch of its first ‘Digital Kendra’ in Surat, Gujarat.
Amazon India’s Digital Kendra will provide MSMEs with a range of benefits like training on the benefits of ecommerce, shipping and logistics support, cataloguing assistance, digital marketing services, GST, and taxation support.
Shiprocket raises $41.3M in Series D1 from PayPal Ventures, Bertelsmann India Investments, others (Funding)
Shiprocket, a Delhi-based ecommerce fulfilment platform that claims to enable fast and cost-effective shipping for D2C retailers, has raised $41.3 million (Rs 305 crore) in Series D1 funding.
The round was co-led by PayPal Ventures, the corporate VC arm of PayPal, Info Edge Ventures, an investment fund backed by publicly listed Info Edge and Temasek Holdings, along with existing investor Bertelsmann India Investments.
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Saahil Goel, CEO and Co-founder, Shiprocket
” align=”center”> Saahil Goel, CEO and Co-founder, Shiprocket
Noida-based CRMNEXT raises $16M in Series B co-led by Avataar Ventures, Ascent Capital (Funding)
CRMNEXT, a Noida-headquartered digital and customer experience transformation platform for enterprise banks and financial service providers globally, on Thursday, said it raised a Series B funding of $16 million co-led by Avataar Ventures and Ascent Capital. It will use the funding to accelerate its global expansion and invest in doubling its team.
Former WhatsApp business head Neeraj Arora may rejoin Paytm board
Former global business head of WhatsApp Neeraj Arora is likely to rejoin the board of Paytm amid the company preparing to come out with an IPO worth Rs 16,600 crore. Arora, who is currently working as an advisor to an early-stage venture capital firm Venture Highway, was on the board of Paytm between June 2015 and February 2018.
D2C startup Green Soul raises Rs 1.5Cr in revenue-based financing from Velocity
Thane-based direct-to-consumer (D2C) startup Green Soul Ergonomics on Thursday said it raised Rs 1.5 crore from Velocity.in. This marks Green Soul Ergonomics’ first round of external financing.
D2C startup Green Soul plans to accelerate its growth by using these funds to finance its inventory and marketing spends.
Debt collections platform CanPe raises seed round led by Axilor Ventures, others (Funding)
CanPe, a Bengaluru-based digital-first intelligent debt collections platform, has raised seed funding led by Axilor. The round also saw participation from Yatra Angel Network, Manipal Technologies, and BetaPlus Capital Partners. Prominent angel investor Natarajan Ranganathan also participated in this round.
RBI includes retail, wholesale trade under MSME category
The Reserve Bank of India (RBI) recently notified the inclusion of retail and wholesale trade under the micro, small and medium enterprises (MSME) category, which is expected to help 2.5 crore retail and wholesale traders benefit from priority sector lending under RBI guidelines.
Online commerce industry to touch $188B by 2025: Ficci
The online commerce industry is projected to reach $ 188 billion in 2025 from $64 billion last year, with growing consumer preference to buy on digital marketplaces, according to a report by Ficci. The report ‘A progressive shift from transactions to trust’ was released on Wednesday.
Wadhwani Foundation announces second phase of $1M grant to help Indian families impacted by COVID-19
On Thursday, nonprofit Wadhwani Foundation (WF) announced the next phase of its $1 million in grants to charities and NGOs to help alleviate the devastating impact of the pandemic in India. These grants support the rapid delivery of medical resources and support to COVID-19 patients and their families.
Edited by Suman Singh
