Adani buys stake in Cleartrip✔
Adani buys stake in Cleartrip✔
A Quick Recap of the Week.
Hi 👋🏻,
Start your day, the smart way!
Must-read stories from the world of tech & startups delivered to your inbox.
Every day, keep an eye on the Promotions tab for new mail.
Adani Group buys stake in Flipkart-owned online travel aggregator Cleartrip✈
Adani Enterprises has acquired a significant minority stake in Flipkart-owned Cleartrip, giving India's biggest airports operator a foothold in the fast-growing online flight-booking space amid its super app plans.
The deal, whose financial details weren't disclosed, comes when the travel and hospitality industry at large is witnessing a post-pandemic revival of sorts. The transaction is likely to close next month, subject to necessary approvals.
Since the acquisition by Flipkart Group, Cleartrip has seen 10x growth in flight bookings, Adani Enterprises said.
The investment will further enhance the strategic partnership between the Adani Group and the Flipkart Group, which are already in alliance in the logistics and warehousing space.
The deal would also bolster Adani's super app plans.
Shares of Adani Enterprises on Friday closed 2.19% higher at ₹1,423.50 apiece on BSE.
A Quick Recap of the Week
Monday
CRED seeks to make users spend more on the platform with HipBar acquisition🤑
IPO-bound Nykaa acquires D2C skincare brand Dot & Key🔑
Jio All Set To Invest In Dunzo’s $250 Million Funding Round💁🏻♂️
Tuesday
Groww raises $251 mn, triples valuation to $3 bn in 6 months💲
Nykaa lays out recovery, reveals growth plans ahead of IPO this week💄
After Zostel, FHRAI asks Sebi to halt Oyo's $1.2 billion IPO🤚🏻
Wednesday
At $1 trillion, Tesla’s market cap is more than India’s top 5 listed companies combined😇
Chalo acquires Amazon backed Shuttl, plans for International expansion🚌
BharatPe moves Delhi HC; opposes PhonePe’s trademark over ‘PE’ usage👩🏻⚖️
Thursday
Paytm to launch Rs 18,300-crore IPO on November 8🏆
PolicyBazaar parent's IPO to open on November 1📊
Acko turns unicorn after $255 million fundraising round🦄
Friday
Facebook Changes Its Name To 'Meta' In Rebranding Exercise👍🏻
Nykaa IPO ends day 1 on a strong note🔥
Microsoft nearly overtakes Apple as most valuable company🍎
Funding Deals
Clear (formerly ClearTax), which helps individuals and businesses file tax returns online, has raised $75 million from investors led by Kora Capital with participation from US-based payments major Stripe.
FarMart, a food supply software platform, has raised $10 million in a Series A funding round headed by Matrix Partners India.
ConveGenius, an edtech social enterprise, has raised $5 million in a new round of funding led by new investors BAce Capital, Heritas Capital, and 3Lines Venture Capital.
Teachmint, an education infrastructure startup, has raised $78 million in a Series B investment headed by Rocketship.vc and Vulcan Capital.
Porter, a tech-based on-demand intra-city logistics provider, has raised Rs 750 crore in a Series E fundraising round led by Tiger Global Management and Vitruvian Partners, with participation from existing investors Sequoia Capital India and Lightrock India.
Dairy-tech startup Stellapps has raised $18 million in its pre-Series C funding round from investors led by global animal nutrition and aquaculture company, Nutreco.
Thrasio, the company that pioneered the business of acquiring and scaling brands on Amazon, has raised more than $1 billion in a private funding round led by technology investor Silver Lake.
Agritech startup Gramophone has raised $10 million in its Series B funding round led by Z3Partners. Existing investors, including Info Edge, Asha Impact, and Siana Capital, participated in the round.
Pregnancy and parenting app Healofy on Tuesday announced a $6.5 million (Rs 48 crore) fundraise in a Series B round led by Celesta Capital. The direct-to-consumer company also announced a $1 million debt raising from Stride Ventures.
Social non-fungible token (NFT) platform Hyy.pe has raised $2 million in a fresh funding round led by Elevation Capital.
Payments technology and card company Visa has closed its investment of $5 million in Open, which was part of the neo bank’s $100 million Series C fundraise, according to Moneycontrol.
Agritech startup DeHaat has raised $115 million in Series D funding, led by Belgium-based investment firm Sofina and Lightrock India.
D2C baby products brand R for Rabbit has bagged Rs 40 crore from private equity firm Xponentia Capital Partners.
Artificial intelligence-driven content intelligence platform Instoried has raised $8 million in funding from Pritt Investment Partners and 9Unicorns with participation from Mumbai Angels, Venture Catalysts Angel Fund, SOSV and a few HNIs.
Tech infrastructure platform Hypto has raised $3 million in seed funding led by Stellaris Venture Partners.
Fintech startup Drip Capital has raised $175 million in fresh capital to power its next phase of growth. Funds raised include a $40 million Series C equity investment and $135 million in warehouse debt facilities.
Hyper-local e-commerce platform LoveLocal has raised $18 million (Rs 143 crore), in a Pre-Series B investment round led by Vulcan Capital.
Technology-led non-banking finance company (NBFC) Avanti Finance has raised $ 15 million (around Rs 111 crore) as part of its Series A extended round.
Vakilsearch, a legal tech startup, has secured $10 million from InCorp India.
Have a wonderful weekend!🥳
Thanks for reading😊
Hit 💜, if you enjoyed the article. You can forward this mail or share it on social media.