Category: India’s

India’s Zomato raises $100M from Tiger Global, says it is planning to file for IPO next year
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India’s Zomato raises $100M from Tiger Global, says it is planning to file for IPO next year

Indian food delivery startup Zomato has raised $100 million from Tiger Global and is preparing for the next phase of its journey: An IPO. Tiger Global financed the capital through its investment vehicle Internet Fund VI, according to a regulatory filing. Info Edge, a major investor in Zomato, confirmed the development Thursday evening, adding that…

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India’s Reliance Retail to acquire Future Group’s retail, wholesale, and logistics businesses for $3.4 billion
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India’s Reliance Retail to acquire Future Group’s retail, wholesale, and logistics businesses for $3.4 billion

Reliance Retail, India’s largest retail chain, has found a much simpler way to expand its dominant position in the country: Acquire most of the second largest bricks-and-mortar retailer. On Saturday evening (local Indian time), Reliance Retail said it has reached an agreement with Future Group to acquire the latter’s retail and wholesaler business, and its…

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India’s Flipkart gives hyperlocal delivery service another try
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India’s Flipkart gives hyperlocal delivery service another try

Flipkart on Tuesday launched a hyperlocal service in suburbs of Bangalore, four years after the e-commerce group abruptly concluded its previous foray into this category. The e-commerce group, owned by Walmart, said Flipkart Quick leverages the company’s supply chain infrastructure and a new location mapping technology framework to deliver more than 2,000 products across grocery, perishables,…

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India’s Milk Mantra secures $10M from US International Development Finance Corporation
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India’s Milk Mantra secures $10M from US International Development Finance Corporation

Milk Mantra, a startup that procures, packages, sells and delivers milk and other dairy products, has raised $10 million in a new debt financing round as it looks to grow its business in India, where nearly a dozen startups have attempted and failed to serve this category in recent years. U.S. International Development Finance Corporation…

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Sinch to buy India’s ACL Mobile for $70 million
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Sinch to buy India’s ACL Mobile for $70 million

Sinch said on Monday it has agreed to buy Indian firm ACL Mobile for £56 million (roughly $70 million) in what is the fourth acquisition deal the Swedish mobile voice and messaging firm has entered into at the height of a global pandemic. The Swedish firm said acquiring ACL Mobile will enable it to leverage…

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India’s Reliance Jio Platforms to sell $750 million stake to Abu Dhabi Investment Authority
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India’s Reliance Jio Platforms to sell $750 million stake to Abu Dhabi Investment Authority

Mukesh Ambani has courted the seventh major investor for his telecommunications business in just as many weeks. On Sunday, Reliance Jio Platforms said it will sell a stake of 1.16% for $750 million to Abu Dhabi Investment Authority (ADIA), continuing its eye-catching run of investments at the height of a global pandemic. The three-and-a-half-year-old digital…

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India’s Khatabook raises $60 million to help merchants digitize bookkeeping and accept payments online
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India’s Khatabook raises $60 million to help merchants digitize bookkeeping and accept payments online

Khatabook, a startup that is helping small businesses in India record financial transactions digitally and accept payments online with an app, has raised $60 million in a new financing round as it looks to gain more ground in the world’s second most populous nation. The new financing round, Series B, was led by Facebook co-founder…

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India’s Swiggy to cut 1,100 jobs, scale down cloud kitchen operations
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India’s Swiggy to cut 1,100 jobs, scale down cloud kitchen operations

Swiggy said on Monday it is cutting 1,100 jobs and scaling down some adjacent businesses as India’s top food delivery startup looks to reduce costs to survive the coronavirus pandemic that has made people cautious about ordering food online. In an internal email, which the Bangalore-headquartered startup published on its blog, Swiggy co-founder and chief…

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