Zomato - Blinkit deal soon🥯, PhonePe to list in India📊, Tata Motors bags India’s biggest EV fleet order🚘
Zomato to sign Blinkit deal soon, PhonePe will list in India, Tata Motors bags India's biggest EV fleet order from cab company, Funding Deals & more.
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Zomato likely to sign Blinkit deal on June 17🥯
Zomato is likely to call an extraordinary general meeting on June 17 to clear the acquisition of quick commerce startup Blinkit.
Zomato has previously invested in Blinkit, and extended a loan of up to $150 million for the quick-commerce entity earlier this year.
According to sources, the deal is tied to a certain number of Zomato shares that Blinkit’s investors will receive.
Zomato has been trying to enter the quick commerce space after twice dropping plans to deliver groceries online since the start of the pandemic in 2020. But during its investor call in May, its first since going public last year, CEO Deepinder Goyal said the company was “very conscious” about not overpaying for Blinkit.
PhonePe will list in India, says CEO Sameer Nigam📊
Payments and financial services company PhonePe has clear plans to list on the stock exchanges someday, and when ready the company will launch an initial public offering (IPO) in India, founder and CEO Sameer Nigam said.
"We are moving our holding company to India, and we will list here. Our board has already signed off on it, it's just a matter of time now," he said.
"We are a made in India company. Every office, data centre, and employee of ours is here. There is no reason why we should not contribute to wealth creation in this market."
Hot Shorts⚡
FlexiLoans, a digital lending platform for small businesses, backed by KKR India senior advisor Sanjay Nayar and former KPMG top honcho Narayan Sheshadri, has raised $90 million in a mix of equity and debt.
Ivy Homes, a prop-tech startup that uses artificial intelligence and machine learning to provide instant liquidity to sellers, has raised $5.75 million in equity and $1.3 million in debt in ($7 Mn) seed round of funding.
Text Mercato, a cataloging and content technology company, has bagged USD 2.6 million in Pre-Series A funding round led by 1Crowd, Mount Judi Ventures and US-based Innospark Ventures.
Moneyboxx Finance, a Non-Banking Finance Company has raised Rs 20.77 crore equity capital by private placement from non-promoter investors.
➡️ Check out our LinkedIn space for more on the funding deals.
Tata Motors to deliver 10,000 EVs to BluSmart Electric Mobility🚘
Tata Motors has signed an agreement with BluSmart Electric Mobility for delivering 10,000 XPRES T EVs to the company. The company said that this deployment of 10,000 units is the biggest ever EV fleet order in India.

With deliveries starting soon, these vehicles will be added to the 3,500 XPRES-T EV order that was signed by both companies in October of last year. They will be used by commuters across the country, which will help reduce the carbon footprint, the firm said in a statement.
“With our USD 50M in Series A fundraise, we are supercharged to rapidly expand across Delhi-NCR and the metro cities. We are building a large-scale integrated EV mobility ecosystem in India–from the country’s largest fully-electric ride-hailing service to the largest network of EV charging super hubs,” said Anmol Singh Jaggi, Co-Founder, BluSmart Electric Mobility.
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