Zomato buys Blinkit’s warehousing biz🏬 | RBI's new lending rules📜 | World's highest rate of recognising start-ups💡
Zomato Hyperpure acquires Blinkit’s warehousing biz, RBI's new lending rules, India holds the world's highest rate of recognising start-ups, Funding Deals & more.
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Zomato Hyperpure acquires Blinkit’s warehousing business🏬
Zomato’s B2B restaurant supply business, Hyperpure, has acquired Blinkit’s warehousing and ancillary services business, Hands On Trades Private Limited (HOPTL).
In a disclosure to BSE on Thursday, Zomato said the acquisition of the ancillary business and Blinkit (formerly Grofers) was complete. It acquired Blinkit in an all-stock deal for Rs 4,447 crore.
Zomato acquired the ancillary service for about $8 million in cash. It, however, didn’t acquire HOTPL’s B2B trading business as it no longer fits into the company’s plans.
Zomato will now begin integrating with Blinkit on multiple fronts, starting with customers and delivery fleets.
New lending rules will force fintech firms to focus on NBFC ops📜
The Reserve Bank of India's (RBI's) latest digital lending guidelines has increased the pressure on new-age lending businesses, forcing them to focus on their non-banking financial company (NBFC) units and book building, as the regulator gives importance to regulated entities.
While the RBI guidelines give a relative advantage to those lending fintech firms with an active NBFC, building the required capitalisation to lend more won’t be easy.
The central bank on Wednesday released the first leg of the digital lending norms, allowing loan disbursals and repayments only among borrowers and entities it regulates.
Any fees payable to a loan service provider are to be collected by the regulated entity directly from the borrower. This makes it clear the RBI is keen on encouraging those entities that it can govern.
Hot Shorts⚡
Global AI community platform DPhi has raised Rs 2.4 crore in a strategic seed funding round led by Selçuk Boydak, a serial AI entrepreneur, investor, and philanthropist.
Uravu Labs, a startup focused on building renewable water infrastructure, has raised undisclosed capital in a seed round of funding led by Anicut Capital and co-led by Rocketship.VC and Speciale Invest.
India holds the world's highest rate of recognising start-ups per day💡
The Department for Promotion of Industry and Internal Trade (DPIIT) has recognized more than 75,000 startups- a milestone that coincides with the 75th year of independence.
As India celebrates Azadi ka Amrit Mahotsav, the Indian startup ecosystem continues to be fuelled by innovation, enthusiasm, and entrepreneurial spirit.
With more than 80 Startups getting recognized per day- highest rate in the world, the future of the startup culture is very promising and encouraging.
Out of the total recognized startups, around 12% cater to IT services, 9% to Healthcare and Life Sciences, 7% to education, 5% to professional and commercial services and 5% to agriculture.
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