Zomato Offers To Acquire Shiprocket, Values The Logistics Giant At $2 Bn
SUMMARY Zomato’s offer reportedly values the SaaS logistics platform Shiprocket at about $2 Bn but a final decision has not been made Shiprocket had raised $185 Mn in its Series E round co-led by Zomato, Temasek, and Lightrock India in 2021 The startup was last valued at $1.2 Bn following a $33.5 Mn fundraising last…
M2P Fintech acquires Goals101 for ₹250 crore
New Delhi: M2P Fintech, a digital banking infrastructure company, has acquired Goals101, a firm specializing in transaction behavioural intelligence, for approximately ₹250 crore. The move will enhance M2P Fintech’s data analytics offerings to its clients. Goals 101, a seven-year old company, has developed a platform that runs on advanced algorithms and analytics tools which provide…
Indian startup funding shrinks by 73% in 2023. What model companies can adopt?
In India, startup funding has declined to a five-year low figure in 2023 — $7 billion as compared to $25 billion received in the previous year, a nearly 73% decline from funding recorded in 2022 amid a worsening global macroeconomic environment tossed by geopolitical tensions. According to research platform Tracxn data, as of December 5,…
After Lok Sabha, Telecommunications Bill Passed In Upper House
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Over 100 Indian startups laid off more than 15,000 staff this year: Report
More than 15,000 employees were laid off by roughly 100 Indian startups in 2023 as funding winter persists. According to data sourced from Layoffs.fyi, cash-strapped Byju’s sacked 2,500 of its staff in the second round this year. The ed-tech startup’s founder Byju Raveendran pledged his home to raise funds for paying salaries to his employees….
Delhivery Surges Almost 7% Intraday After Launch Of New Trucking Terminal In Bhiwandi
SUMMARY Shares of Delhivery surged 6.8% to INR 389.35 during the intraday trading on Thursday (December 21), a day after the company launched its largest mega-gateway in Bhiwandi, one of India’s largest trucking terminals. However, the shares shed some of the gains and were trading at INR 388.15 on the BSE at 2.30 PM IST….
Macquarie Capital picks up minority stake in ChargeZone
New Delhi: Macquarie Capital has acquired a “substantial minority stake” in ChargeZone, a Vadodara-based company specializing in high-speed electric vehicle (EV) charging networks. The specifics of the stake and the investment amount remain undisclosed. This move is set to boost ChargeZone’s efforts in expanding its cloud technology-enabled EV charging network, aligning with India’s growing focus…
PhonePe Rolls Out Credit Feature On App To Help Users Manage Credit Cards, Pay Bills
SUMMARY Walmart-owned digital payments app PhonePe has rolled out a new feature on the platform that will allow its users to manage their credit cards as well as pay bills and loans. The ‘Credit’ section will enable users to view their credit bureau score without any additional cost, PhonePe said in a statement, adding that…
The Sleep Company raises ₹184 crore in Series C funding
MUMBAI : The Sleep Company, an omnichannel leader in the comfort-tech business, has raised ₹184 crore in Series C from existing investors Premji Invest and Fireside Ventures. The company, which provides both sleep and seating technology, will use the funding to grow its offline presence, expand in other regions and widen its product basket, the…
Agilitas Sports secures ₹100 crore from Nexus Venture Partners
New Delhi: Agilitas Sports, founded by Abhishek Ganguly, the former managing director of Puma India and South-East Asia, has raised ₹100 crore from Nexus Venture Partners. This funding is aimed at developing a range of consumer brands in the sports footwear and apparel sectors. Agilitas had secured ₹400 crore in May from funds managed by…
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