india

Zomato raises $1 billion in first major fundraise since 2021 listing

Fundraising /

Zomato has raised $1 billion through a so-called qualified institutional placement, completing its first major fundraise since its 2021 IPO. The $30 billion food delivery and quick-commerce giant, which leads both those categories, issued approximately 336.5 million shares at ₹252.62 each ($3), according to a stock exchange filing on Friday. The placement, which opened on […]

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India, already an IPO bright spot, prepares for bigger surge in 2025

Venture /

India has bucked the global trend in initial public offerings this year, establishing itself as a rare bright spot for tech listings while other major markets face continued headwinds. The world’s most populous nation is now preparing for an even more substantial wave of startup IPOs in 2025. More than 20 startups are preparing to

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Flipkart co-founder Binny Bansal leaves PhonePe board

Fintech /

Flipkart co-founder Binny Bansal has stepped down from PhonePe’s board of directors, three quarters after making a similar move at the e-commerce giant. Bengaluru-headquartered PhonePe said it had appointed Manish Sabharwal, an executive at staffing and HR firm Teamlease, as an independent director and audit committee chair. Bansal played a key role in Flipkart’s acquisition

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OneCell Diagnostics bags $16M to help limit cancer reoccurrence using AI

Biotech & Health /

Cancer, one of the most life-threatening diseases, is projected to affect over 35 million people worldwide in 2050 — 77% more than the estimated 20 million cases in 2022, according to the World Health Organization. Cancer survivors globally reached 53.5 million, and the reoccurrence rate of the disease varies between 15 and 100%, depending on

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OneCell Diagnostics bags $16M to help limit cancer recurrence using AI

Biotech & Health /

Cancer, one of the most life-threatening diseases, is projected to affect over 35 million people worldwide in 2050 — 77% more than the estimated 20 million cases in 2022, according to the World Health Organization. Cancer survivors globally reached 53.5 million, and the recurrence rate of the disease varies between 15% and 100%, depending on

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India’s Arzooo, once valued at $310M, sells in distressed deal

Startups /

Arzooo, an Indian startup founded by former Flipkart executives that sought to bring “best of e-commerce” to physical stores, has sold its assets in distressed sale to Moksha Group. The deal follows Arzooo engaging with several startups, including Bengaluru-headquartered Udaan, for potential merger opportunities, according to people familiar with the matter. Arzooo had raised approximately

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Indian news agency sues OpenAI alleging copyright infringement

Government & Policy /

One of India’s largest news agencies, Asian News International, has sued OpenAI in a case that could set a precedent for how AI companies use copyrighted news content in the world’s most populous nation. Asian News International filed a suit in the Delhi High Court on Monday, alleging the AI company illegally used its content

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India orders Meta to curb WhatsApp data sharing, levies $25M fine

Apps /

India’s competition watchdog has ordered WhatsApp to stop sharing user data with other Meta units for advertising purposes for five years and also levied a fine of $25.4 million for antitrust violations related to WhatsApp’s controversial 2021 privacy policy. The Competition Commission of India, which began the investigation in 2021, found that WhatsApp’s “take-it-or-leave-it” privacy

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India’s HealthKart valued at $500 million in new investment

Startups /

Indian omni-channel nutrition startup HealthKart has raised $153 million in one of the country’s largest consumer startup transactions this year, valuing the business at about $500 million, according to a source familiar with the matter. The new investment was co-led by private equity firms ChrysCapital and Motilal Oswal, with Avendus Capital serving as financial advisor.

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