The ongoing coronavirus pandemic has forced businesses to get on their knees. The nationwide lockdown has started taking toll on businesses and food delivery companies are having a really tough time due to fear of catching the virus in consumer’s mind. Owing to the troubles because of the pandemic, food unicorn Swiggy is recently planning…
Food delivery platform Swiggy has recently raised $43mn in its ongoing Series I funding round. The funding round was led by existing investor Tencent and saw participation from Ark Impact Asset Management, Korea Investment Partners (KIP) and MACM India Growth Fund. The company had initiated its Series I round in February and had raised $113…
GitHub Inc., world’s leading software development platform, announced the opening of its subsidiary, GitHub India Private Limited, with the aim to better serve the developer community and GitHub’s enterprise customers in the country. India is home to GitHub’s third largest community of developers, growing 22 percent over the past year, adding to an already significant…
The Unicorn Club is a group of new-age start-ups with a valuation above a billion-dollar. Any new start-up that emerges in the ecosystem aspires that one day it will reach this exclusive club. But not everybody is welcome. The term was first coined in 2013 by venture capitalist Aileen Lee, choosing the mythical animal to…
Food delivery start-up Zomato on Friday announced that it has raised $150mn in fresh funding from Alibaba subsidiary Ant Financial. With the recent investment, Zomato is now valued at $3bn. Zomato was founded by Deepinder Goyal and Pankaj Chaddah in 2008. So far Zomato has raised a total of $840mn in funding from multiple investors.…
Swiggy, India’s largest and most valuable online food ordering and delivery platform, has launched its own payment wallet – Swiggy Money. According to the latest notification in its terms of use – Swiggy assured that the wallet will only be used to credit amounts for the canceled orders at the moment. The Cashback Guarantee* on…
United State’s based Accel Partners, a venture capital firm, has raised about $550mn for its 6th fund specifically for investments in India’s booming start-up ecosystem. This fund is a notch higher than its 5th fund which set a figure of about $450mn in 2016. Accel has so far raised $1 billion capital across five rounds…
Swiggy, India’s food delivery unicorn, has seen rapid expansion since it started. The company, founded by Sriharsha Majety, Nandan Reddy, and Rahul Jaimini in August 2014, was a late entrant as compared to Food Panda ( now owned by Ola), and Zomato, but has taken over the market and has emerged as the leading brand…
Online food delivery startup Swiggy has raised $1 billion in a fresh round of funding led by South African multinational internet and media group Naspers, with the entry of new investors like China’s Tencent, Hillhouse Capital, and Wellington Management. Avendus Capital was the financial advisor to the transaction. According to sources, with this new round of funding…
Zomato, the restaurant search, and discovery platform have acquired a drone delivery startup TechEagle Innovations. Lucknow-based TechEagle Innovations works exclusively on drones and will help Zomato’s ambition to create technology that will power hub to hub delivery networks powered by hybrid multi-rotor drones, Zomato said in a statement. Founded in 2015 by IIT-Kanpur student Vikram Singh…
Online food delivery platform Zomato has raised another $210 million in funding from Ant Financial, the financial arm of Alibaba Group. Info Edge disclosed in a stock exchange filing on Friday that it’s ownership in Zomato will fall from 30.91% to 27.68% as a result of the infusion from Alipay Singapore Holding Pte. Ltd or other…