PROSUS VENTURES

Flipkart considered buying a stake in Swiggy months ago amid the rise of quick commerce. This and more in today’s ETtech Morning Dispatch.

Generative AI startup Ayna raises $1.5 million led by Inflexor Ventures to enhance AI capabilities for product photography accessible to businesses.

Several products in the Blinkit warehouse were found to have expired and were seized, Telangana's Commissioner of Food Safety said on Thursday. The raid found that cosmetic products were stored with food items and that the licence of Congruence Trad...

Swiggy Valuation: Baron Capital, which participated in Swiggy’s $700 million funding round in January 2022 at a valuation of $10.7 billion, has raised the fair value of its holding in Swiggy for the fourth straight time. Crossover funds, i.e. funds ...

BYJU'S processed employees' May salaries from business collections. Salaries paid from company's collections, highlighting financial health and debt-raising challenges. Company raised debts, implemented strategic initiatives. Investors, including Pr...

Kumar joining Nexus Venture Partners adds to a long list of top personnel changes at venture firms in India over the last 8-10 months. He was previously at startup accelerator Y Combinator and had also founded Supr Daily along with Shreyas Nagdawane...

Existing investors Vy Capital and Prosus Ventures, and Dharana Capital, an offshoot of Vy Capital, will be purchasing a majority of these shares from both current and former employees

Gurugram-based Urban Company clocked a 45% on-year jump in operating revenue to Rs 637 crore for FY23. Its losses before taxes for the year narrowed to Rs 308 crore, from Rs 514 crore in FY22. In August last year, the company had said its India busi...

Meesho secures $275M funding in a $600M round. Share transfers hinted in SEC filing. In total, Meesho has raised $1.36 billion – including secondaries – since 2015.

Former Zomato executive Gupta will steer the venture as CEO, Bansal to stay away from operations. The fashion startup will focus on offline play in the premium women's wear fashion category and expand into other lifestyle segments later.

Swiggy IPO: Swiggy plans to raise up to Rs 3,750 crore ($450 million) in fresh capital, in addition to an offer-for-sale (OFS) component of up to Rs 6,664 crore ($800 million). The food-delivery major is also looking to raise about Rs 750 crore from...

Ashutosh Sharma appointed by Prosus to lead investments in India and Southeast Asia. He will report to interim CEO Ervin Tu and focus on new investments and collaborations with portfolio firms like Swiggy.

This development comes when venture capital-backed agriculture technology startups are struggling to scale margins on mainstay business and have pared workforces to cut costs.

Ema was founded in March 2023 by former Google employees Souvik Sen and Surojit Chatterjee and stands for Enterprise Machine Assistant. It allows enterprises to build generative AI personas and applications internally to bring about automation and i...

Roll-up ecommerce startup Mensa Brands saw its total loss for FY23 widen over twofold from a year ago to reach Rs 213.9 crore, while total income grew 150% to Rs 505.1 crore, data from market intelligence firm PrivateCircle showed.

Sukhleen Aneja, chief executive officer at Good Brands Co, owned by Good Glamm Group, said: “We look forward to expanding this collaboration subsequently to other products to tap into a broad consumer base.”She added the collaboration, once expanded...

Technology investor Prosus has slashed Byju’s valuation to below $3 billion from its peak of $22 billion. This and more in today’s ETtech Top 5.

Positions across the business, tech, design, and manufacturing verticals were hit, while the finance and HR departments were “relatively untouched”.

"This investment is led by Japan-based SBI Investment and Evolvence Capital, complemented by continued backing from internal investors, including Accel, Matrix Partners India, Prosus Ventures and Tiger Global," a company statement said. Captain Fres...