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ETtech Deals Digest: Startups raise $1.71 billion in June 2024, marking a 148% on-year increase
The fundraise was done by startups in the early and late stages across 85 rounds, said private market intelligence platform Tracxn.
Zepto raises $665 million funding at $3.6 billion valuation to take on Blinkit, Swiggy Instamart
Company to double dark-store count to 700, taking on rivals Blinkit, Swiggy Instamart and Big Basket’s BB Now; DST Global, Lightspeed Venture Partners, Avenir Growth Capital and Avra joined as new investors in the round led by Glade Brook Capital, StepStone Group and Nexus Venture Partners.
Zepto’s mega fundraise; Oyo funding gets shareholder nod
Quick commerce company Zepto has raised $665 million from new and existing investors. This and more on today’s ETtech Top 5.
ETtech Deals Digest: Startup funding soars to $748.5 million this week
Startups raised $748.5 million in the third week of June, with Mumbai-based Zepto securing $665 million. This marked an eightfold increase from the previous week. Top deals included Zepto, EKA Mobility, Wrogn, OrbitShift, and Alyve Health.
Exclusive: Flipkart-Zepto deal talks drop out of cart
Happy Friday! Ecommerce major Flipkart held talks with Zepto for a potential deal. More on that in today’s ETtech Morning Dispatch.
Quick-commerce grows beyond grocery; Tribe Capital’s latest India bet
Happy Friday! Quick-commerce platforms like Zepto, Swiggy’s Instamart, and Zomato-owned Blinkit are seeing a surge in sales for non-grocery items as they take on ecommerce rivals. This and more in today’s ETtech Morning Dispatch.
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Meesho’s secondary deal; tech VCs line up for consumer brands
Peak XV Partners and Tiger Global are among investors aiming for a stake in ecommerce firm Meesho via secondary deals. More details in a packed edition of ETtech Morning Dispatch.
Expect quick-commerce firms to battle ecommerce soon: Zepto investor Glade Brook
In a blog post on LinkedIn, Paul Hudson, founder of investment firm Glade Brook Capital, said that the market is already moving in this direction with Blinkit and Zepto expanding their product assortment. The fund had backed Mumbai-based Zepto last year and invested in Blinkit’s parent company Zomato back in 2019.
Unicorn drought ends as Zepto raises $200 million at $1.4 billion valuation
The timing of Zepto’s fundraise is significant given the slump in investments into growth- and late-stage startups on the one hand and the correction being witnessed in the quick commerce segment on the other.
Golf merger: Market triumphs over pretentious morality
In the middle of its biggest metamorphosis since Arnold Palmer inspired the creation of the PGA TOUR, Monahan and his crew are hard pressed to explain their unexpected bonds with the Public Investment Fund (PIF) of Saudi Arabia.
Asian stocks skid as China's COVID protests roil sentiment
Mobility data in China is showing the impact of a resurgence in COVID-19 cases," ANZ analysts wrote in a research note Monday. "This remains a headwind for oil demand that, combined with weakness in the U.S. dollar, is creating a negative backdrop for oil prices.
SME focused impact investments is being sidetracked in India, UGRO Capital’s Nath
Capital is getting channelised to other avenues, says experts, pointing out that money is flowing out but no one is keeping track of the impact or the success of the venture.
Headout bags $30 million in funding led by Glade Brook Capital
Headout said it will use the funds to accelerate its journey to $1 billion in annual sales by expanding to 500 cities in the next 24 months, to launch new verticals for domestic short-haul travel and build the next generation of technology products.
Eximius Ventures launches program to support student-led ventures
Through this program, Eximius Ventures aims to not only accelerate the success of nascent-stage student-led businesses but also groom the Student Venture Partners to become a part of the VC ecosystem.
Zepto raises $60 million to deliver groceries in 10 minutes
Venture capital fund Nexus Venture Partners and Silicon Valley’s Y Combinator also participated in the funding round along with prominent angel investors including former chief business officer of WhatsApp, Neeraj Arora.
India does a turnaround on trade spurred by post-Covid economic reality
New Delhi is currently negotiating bilateral trade agreements with 20 nations and expects to complete half a dozen deals, including those with Australia and Britain by this Christmas and March next year respectively.
Headout raises $12 million in Series B round led by Glade Brook Capital
The round also saw participation from existing investors Version One Ventures, Nexus Venture Partners, FJ Labs, 500 Startups, Haystack and Ludlow Ventures and new investors Espresso Capital and Practical VC, a senior company official said.
World's biggest crypto exchange still lacks US footing
Brooks took pains to establish that Binance.com and Binance.US were separate entities despite their common ownership. Binance.US had "a truly arm's-length relationship" from the other, he said in a May 19 interview with Bloomberg — licensing the Binance brand and some technology but operating independently.
Inshorts raises $60 million from Vy Capital, existing investors
With this, Inshorts—which also operates the location-based social media platform Public—has raised $140 million in the last one year from investors including Addition, Tiger Global, SIG, A91 and Tanglin Venture Partners.
Dailyhunt's parent raises another $100 million from Qatar Investment Authority, others
This fundraising comes on heels of VerSe Innovation landing more than $100 million financing from Google, Microsoft and Falcon Edge’s Alpha Wave Incubation in December, pushing its valuation past $1 billion.
Dow Jones suffers record decline of 1,190 points as Wall Street leads global stocks lower
The CBOE volatility index, also known as the fear index, ended near its session high.
Social Stock Exchange for ‘for-profit’ social enterprises: An idea whose time has come
57 per cent of the social enterprises identify access to debt and equity as a barrier.
Currency markets expose a crucial flaw in Trump's China tariffs
The yuan “floats” far less than most major currencies in global FX markets
Private equity, venture capital funding up 14% on big-ticket push
Sequoia Capital’s open market stake sale in Ujjivan Financial Services worth $17 million, and SaaS startup Indix’s acquisition by US-based Avalara were a few significant exits.
Zomato gets Rs 441 crore in funding round led by Delivery Hero
Chinese companies Shunwei, Saturn Shine also among investors; capital infusion to value the company at about $2 billion.
With fresh funding, Apoorva Mehta is taking the grocery delivery fight to Amazon
The money will help Instacart defend against programs like the one Amazon made public on Thursday: It’s testing free two-hour delivery of Whole Foods groceries to Prime customers in four US cities.
Reuters Sports News Summary
SPORTS:Reuters Sports News Summary
Everstone hires Bhavna Thakur as head of capital markets and exits for PE and real estate business
Thakur will lead the capital markets and exits function across both the private equity and real estate businesses.
Bharti Airtel: Why Sunil Mittal chose Gopal Vittal
Gopal Vittal’s career is a series of arrivals and departures across two of India’s most respected companies HUL and Bharti Airtel, reports ET.
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