Zomato on Tuesday said its board has approved a plan to raise $1 billion via a sale of shares to institutional investors, as competition in India’s quick-commerce sector heats up. The timing of the share sale, the company’s first major fundraise since its 2021 IPO, is notable, because it comes just weeks before its rival […]
Zomato to raise $1 billion ahead of rival Swiggy India IPO Read More »
Swiggy, India’s leading food delivery startup, said Friday it has started to deliver meals in 10 minutes across parts of major cities, intensifying the quick commerce race in the world’s second-largest internet market. The Bengaluru-headuartered startup, which is targeting to go public in about a month, said it has partnered with more than 2,700 restaurants,
Swiggy escalates India quick commerce battle with 10-minute meals Read More »
U.S. asset manager Invesco has raised the value of its stake in Swiggy, ascribing an implied valuation of about $13.3 billion to the Indian food-delivery and quick-commerce startup that is on track to go public in about a month. In a disclosure on Tuesday, Invesco’s Developing Markets Fund said it valued the 28,844 shares it
Invesco raises its valuation of Swiggy to $13.3B Read More »
Indian food delivery startup Swiggy is considering increasing the fresh issue component of its initial public offering by $150 million, aiming to raise a total of up to $1.4 billion in what is shaping up to be one of the largest public listings in India this year. The Bengaluru-headquartered startup will ask shareholders to approve
Swiggy weighs increasing IPO size by $150M, aiming to raise up to $1.4B Read More »
Two large Indian startups, Ola Electric and FirstCry, are set to test investor appetite with their public listings this month, but both have had to price their shares below their previous valuations as they come to terms with new market realities. Ola Electric, India’s biggest electric two-wheeler maker, aims to raise over $730 million by
Indian startups gut valuations ahead of IPO push Read More »
Bike-taxi startup Rapido has become the latest Indian startup to become a unicorn, or reach $1 billion in valuation. The eight-year-old firm has raised $120 million in a new funding round led by WestBridge Capital, according to a regulatory filing. The new capital, a Series E infusion, underscores Rapido’s growing prominence in India’s mobility sector
India’s Rapido becomes unicorn with fresh $120 million funding Read More »
Indian food delivery and quick commerce startup Swiggy is pivoting one of its smaller businesses: Swiggy Minis, its Shopify alternative for small businesses, is being turned into a link-in-bio service that will now also cater to service providers like nutritionists and fitness trainers. In its new avatar, Swiggy Minis will act as a landing page
Zepto has more than doubled its valuation to $3.6 billion from $1.4 billion in less than a year in a new funding round of $665 million as the Mumbai-based startup intensifies the quick commerce competition in the world’s second largest internet market. Zepto sells and delivers everything from grocery items to electronic gadgets within 10
Zepto, a 10-minute delivery app, raises $665 million at $3.6 billion valuation Read More »
Even as quick commerce startups are retreating, consolidating or shutting down in many parts of the world, the model is showing encouraging signs in India. Consumers in urban cities are embracing the convenience of having groceries delivered to their doorstep in just 10 minutes. The companies making those deliveries — Blinkit, Zepto and Swiggy’s Instamart
Can quick commerce leapfrog e-commerce in India? Read More »
Goldman Sachs said in a report late Thursday that Indian food delivery giant Zomato’s quick commerce arm Blinkit is now more valuable than its core food delivery business, as per the bank’s sum-of-the-parts analysis. The investment bank estimates Blinkit’s implied value at 119 Indian rupees per share ($1.43) or about $13 billion, while Zomato’s food
