April 29, 2021 / by Taniya Saini / Funding, investment, News, Startup, StartupLanes
Firstcry will launch the country’s largest Thrasio-style investment venture with $75 million in capital commitment from investors such as SoftBank, TPG, ChrysCapital, and Premji Invest, sources revealed. Global Bees will buy, strengthen and fast-track the growth of brands that sell products on e-commerce marketplaces in the country. The model popularised by US-based Thrasio, the world’s […]
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GreyOrange eyes a possible $600M US listing
April 30, 2021 / by Taniya Saini / Funding, investment, News, Startup, StartupLanes
Tiger Global-backed GreyOrange, a domestic robotics company is planning a US listing to raise $500-600 million. The company is already in talks with global investment banks like Bank of America, JPMorgan, and Morgan Stanley to raise capital, which is suspected to unfold by the end of this year or next year. Some bankers believe that […]
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PowerGrid InvIT IPO subscribed 18% so far on second day
April 30, 2021 / by Taniya Saini / Funding, investment, News, Startup, StartupLanes
Subscription for the IPO of Power Grid InnvIT increased gradually on the second day of the bidding process on Friday. The issue has been subscribed 18 percent till now. Till noon on Friday, the issue received bids for 7,86,07,100 units out of the 42,54,25,000 units on offer for subscription. The infrastructure investment trust has been […]
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PowerGrid InvIT raises Rs 3,480 Cr from anchor investors ahead of IPO
April 30, 2021 / by Taniya Saini / Funding, investment, News, StartupLanes
PowerGrid Infrastructure Investment Trust raised a little over Rs 3,480 crore from anchor investors before its initial public offer. It has been decided to allot 34,80,74,100 units at Rs 100 each to 47 anchor investors, bringing the total to Rs 3,480.74 crore, according to a circular uploaded on the BSE website. The anchor investors include […]
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Finnable funding
April 30, 2021 / by Taniya Saini / FinTech, Funding, investment, News, Startup, StartupLanes
Ranjan Pai-led MEMG family office is investing Rs 40 crore in fintech startup Finnable for a significant minority stake. Finnable is a three-year-old startup and has developed a digital lending platform that approves loans in real-time to customers who are not able to approach the banks for their urgent loan requirements. An absence of previous […]
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Route Mobile to acquire AI firm Phonon for Rs 29 Cr
April 30, 2021 / by Taniya Saini / Funding, investment, News, Startup, StartupLanes
Communication platform company Route Mobile will take over AI platform provider Phonon Communications Pvt Ltd in an all-cash transaction for Rs 29 crore, to provide automation and contact center solutions to enterprises globally. Upfront consideration will be paid out after closing of the deal and deferred consideration will be paid out in four tranches, the […]
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Zomato’s shareholders offload $319M worth stake in secondary deals before IPO
April 30, 2021 / by Taniya Saini / Funding, investment, News, Startup, StartupLanes
Zomato filed its Draft Red Herring Prospectus for its IPO with the market regulator on Wednesday to raise $1 billion and as per the draft, seven of its stakeholders have sold more than $319 million shares in a secondary transaction closed in February 2021. The stakeholders who partially exited from Zomato include Blume Ventures, Alipay, […]
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Upgrad to raise $40M in funding from IFC
April 30, 2021 / by Taniya Saini / edtech, Funding, investment, News, Startup, StartupLanes
Upgrad has closed another funding round of $40 million from the World Bank arm IFC, reducing the promoters’ stake in the company to 75%. It had recently raised $120 million from Singaporean investor Temasek Holdings. The capital infusion of $160 million in two quick rounds takes the startup closer to unicorn status, valuing the Mumbai-based […]
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Udaan to buy back employee stocks worth Rs. 165-175 Cr
April 29, 2021 / by Taniya Saini / Funding, investment, News, Startup, StartupLanes
Online B2B marketplace Udaan will be buying back employee stocks worth Rs 165-175 crore, joining a group of Indian startups that have promoted such liquidity programmes for their staff in the Covid-19 pandemic, which has severely hit the national economy. In an internal email to all employees, the company stated, “We want to reward our […]
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FirstCry to launch $75M Thrasio-style investment venture
April 29, 2021 / by Taniya Saini / Funding, investment, News, Startup, StartupLanes
Firstcry will launch the country’s largest Thrasio-style investment venture with $75 million in capital commitment from investors such as SoftBank, TPG, ChrysCapital, and Premji Invest, sources revealed. Global Bees will buy, strengthen and fast-track the growth of brands that sell products on e-commerce marketplaces in the country. The model popularised by US-based Thrasio, the world’s […]
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Competition Commission approves BigBasket’s 64% stake sale to Tata Digital
April 29, 2021 / by Taniya Saini / Funding, investment, News, Startup, StartupLanes
The Competition Commission of India (CCI) has approved Tata Sons’ offer to obtain a majority stake in BigBasket, gearing up for a clash of the leaders in India’s fast-growing online grocery segment. Tata Digital had asked for CCI’s approval to acquire a 64.3% stake in Supermarket Grocery Supplies, the B2B arm of BigBasket, via a […]
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