Delhivery up 10% on debut🚚, Firework gets $150 Mn💰, Oyo to shelve IPO plans🏩
Delhivery up 10% on debut🚚, Firework gets $150 Mn💰, Oyo to shelve IPO plans🏩
Delhivery shares rise 10%, Firework raises $150 million in Series B, Oyo said to shelve plans for IPO in 2022, Funding Deals & more.
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Delhivery shares rise 10% on market debut🚚
After a muted listing, shares of new-age logistics firm Delhivery rose more than 10% on their public market debut on Tuesday.
Shares of Delhivery began trading at Rs 493 on BSE, up 1.2% from the IPO price of Rs 487. On NSE, they began trading at Rs 495.2 apiece, up 1.7%.
The stock closed the day at 536.35 on BSE, up 10.13%. On NSE it closed at 537.25, a 10.32% increase over the listing price.
That’s not bad, considering the lukewarm response to Delhivery’s IPO had indicated a weak listing for the stock. Despite its reduced size – from Rs 7,460 crore to Rs 5,235 crore – the IPO just about sailed through.
Firework raises $150 million in Series B round via SoftBank Vision Fund 2🧨
US-based live streaming commerce platform Firework has bagged $150 million in a Series B funding round led by SoftBank Vision Fund 2, which values the startup at $750 million.
With the fresh funds, the firm aims to increase its headcount across engineering, product and marketing, while focusing on enhancements to its overall platform.
"This investment will trigger accelerated growth across markets and particularly India,” said, Jeff Lucas, chief revenue officer, Firework.
Hot Shorts⚡
EV startup BluSmart has raised $25 million in its follow-on Series A (Series A1) funding round led by BP Ventures and Green Frontier Capital.
Supply-chain financing provider Nakad has raised $7 million as a part of its seed funding round, co-led by Accel and Matrix Partners India.
Video streaming infrastructure platform as a service (PaaS) Laminar has raised $5.1 million in seed funding led by Leo Capital, Artha India Ventures, Garuda Ventures, Cloud Capital VC and Sampson Acquisitions.
Polymerize, a material informatics platform for R&D in chemical companies has raised $4.2 million in Series A funding led by Elevation Capital.
Buildd, a Banking-as-a-Service (BaaS) platform, has received $2 million in Pre-Seed funding from Picus Capital and the Mankekar Family Office.
Data science and machine learning-focused edtech startup Jovian has raised $1.5 million in seed funding round led by Multiply Ventures.
➡️ Check out our LinkedIn space for more on the funding deals.
SoftBank-backed Oyo said to shelve plans for IPO in 2022🏩
Hospitality giant Oyo is shelving plans for an initial public offering in 2022 after a market downturn that would hurt its valuation, Bloomberg News reported.
The board of Oyo talked through a change in the offering’s timing during multiple meetings last week and earlier this week after consulting with its bankers and investors. If the company picks up the process again by year-end, the earliest possibility for an IPO would be in 2023, the report added.
The hospitality startup is seeking regulatory permission to update its draft prospectus with fresh financial information after the close of the September quarter.
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