Tech-enabled logistics and fulfillment platform Shiprocket has approved a Rs 259 crore ($32 million) fundraising round from existing investors Singapore’s Temasek and Lightrock India, according to ET report. Other investors in the current round include Bertelsmann India, March Capital Partners, Moore Strategic Ventures, Huddle Collective and Paypal. “Internal investors were keen to double down on…
Banking tech startup Zeta has announced that it has secured $250 million in investment from SoftBank Vision Fund 2. This Series C investment values Zeta at $1.45 billion. With this investment, Zeta becomes the latest entrant to the unicorn club. “Most banks are using decades old software built when Mainframes and Cobol were in vogue.…
Fintech startup Cred has raised $215 million in Falcon Edge led Series D financing round. Existing investor – Coatue Management also participated in the fresh funding round. Founded by Kunal Shah in 2018, the Bengaluru-based startup has entered India’s unicorn league with valuation of $2.2 billion. The round also saw participation from existing investors RTP…
Cars24, an online platform for selling pre-owned vehicles, has raised $200 million in a Series-E funding round led by DST Global at a post-money valuation of over $1 billion. Existing investors Exor Seeds, Moore Strategic Ventures and Unbound also participated in the funding round. The company will use the current funding to invest aggressively in…
Indian e-commerce giant Flipkart recently said that it is raising $1.2bn in funding led by majority owner Walmart Inc. The investment, also funded by other existing shareholders, values Flipkart at $24.9 billion, and comes two years after U.S. retail giant Walmart bought the company from its founder for $16bn acquiring more than 70% stake. Flipkart…
Indonesia-based tech startup Gojek recently announced that it is laying off about 9% of its total workforce amid the coronavirus pandemic. The recent downsizing exercise at the company is expected to affect about 430 employees. In an official statement, the company said that the layoffs are part of a “long-term response to the Covid-19 pandemic”…
Appnext, an on-device and in-app mobile discovery platform, announced that it reached a record milestone of serving 2B daily app recommendations to mobile users in India. Appnext interacts on average 20 times a day with 180M unique users in India, and continue to adhere to its mission of recommending users with ‘apps they may use…
With this investment, HighRadius becomes the first start-up to become a Unicorn in 2020. The SaaS-based startup is now valued at $1bn. Software as a service or SaaS, based financial start-up HighRadius has recently announced that it has raised $125mn in Series B round funding led by ICONIQ Capital. Existing investors like Susquehanna Growth Equity…