Tag: zomato
China’s expected edtech clampdown may chill a key startup sector
News that China’s government may force domestic tutoring-focused companies to go nonprofit is taking a huge bite out of the value of several technology companies. Bloomberg notes that the value of companies like New Oriental Education & Technology Group and TAL Education are tumbling in light of the news, which…
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Food delivery firm Zomato surges 65% in key India debut
Shares in Zomato, a Gurgaon-based food delivery company and first of India’s consumer tech startups to go public, closed up 64.7% in its debut day of trading in Mumbai, delivering a key insight into the appetite investors have for the world’s second largest internet market’s burgeoning startup ecosystem. Zomato’s shares…
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India poised for record VC year as unicorns head for decisive IPOs
Public market liquidity and macro tailwinds lift the country’s startup ecosystem Alex Wilhelm Anna Heim 2 days In case you’ve not been paying attention, we’ll say it again: The global venture capital industry is on fire. The second quarter of 2021 was the largest single three-month period on record for…
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SoftBank in talks to invest up to $500 million in Swiggy
SoftBank Vision Fund 2 is in advanced stages of talks to invest up to half a billion dollars into food delivery startup Swiggy, two sources familiar with the matter told TechCrunch. The new investment values the Indian startup at about $5.5 billion, the sources said. The new investment would add…
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India’s Zomato valued at $5.4 billion in new $250 million investment
Zomato has raised $250 million, two months after closing a $660 million Series J financing round, as the Indian food delivery startup builds a war-chest ahead of its IPO later this year. Kora (which contributed $115 million), Fidelity ($55 million), Tiger Global ($50 million), Bow Wave ($20 million) and Dragoneer…
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Indian startups raised $9.3 billion in 2020
The coronavirus pandemic — and a handful of other factors — slowed dealmaking for startups in India this year. Compared to their record $14.5 billion fundraise last year, Indian startups are ending 2020 with about $9.3 billion. This is the first time since 2016 that startups in India, one of…
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