Blinkit to launch at-home services💇🏻‍♀️, Nexus $700 Mn fund💰, Softbank sells Delhivery shares🚚

Blinkit to launch at-home services, Nexus Venture Partners closes its largest-ever fund, SoftBank sells shares worth Rs 954 Cr, Funding, Fact and more.

Mar 02, 2023

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Blinkit set to launch Urban Company-like services💇🏻‍♀️

Blinkit is planning to launch a new vertical to offer Urban Company-like services—including plumbing, electrician, beautician, and electronics repair—as it looks to diversify its revenue streams.

The new vertical will put Blinkit in direct competition with Tiger Global-backed Urban Company.

Zomato Founder and CEO Deepinder Goyal have also resigned as an independent director on Urban Company's Board to avoid a potential conflict of interest. He was appointed to UC's Board in March 2022.

Nexus Venture Partners closes its largest-ever fund at $700 million💰

Nexus Venture Partners, a venture capital (VC) firm that has backed the likes of Delhivery, Unacademy, Zepto, Rapido, and a long list of software unicorns such as Postman, Druva, and Hasura, announced the close of its largest fund at $700 million.

Among the older India-dedicated funds, Nexus has been an aggressive backer of India’s SaaS story, having several new-age unicorns from the segment in its portfolio. The fund will deploy the latest corpus across India and the US.

Founded in 2006 by Silicon Valley-based Naren Gupta, Sandeep Singhal and Suvir Sujan, Nexus has stood out for being among the first Indian venture capital firms to spot and invest in software startups across India and the US.

Funds raised by Nexus💰

Hot Shorts⚡

New-age matrimony platform, Betterhalf has bagged $8.5 million in a series A funding round led by Finsight Ventures.
EV cab service provider Evera has closed its pre-Series A funding round at $7 million (around Rs 57 crore). The funding’s first tranche saw participation from IEG Investment Banking Group, while Direct Capital and Westova Global invested in the second round.
Proptech unicorn NoBroker has bagged an additional Rs 40 crore ($5 million) in Series E funding from Google, which joins existing investors General Atlantic, Tiger Global, and Moore Strategic Ventures in the fundraise.
Artificial Intelligence and automation as a service startup EaseMyAI has secured Rs 1.8 crore in a seed round led by Inflection Point Ventures.

Funding Deals 💰

SoftBank sells shares worth Rs 954 crore in Delhivery🚚

SoftBank has sold 3.85% or 2.8 crore shares worth Rs 954 crore in Gurgaon- based logistics firm Delhivery through bulk deals on Wednesday. Shares were sold at Rs 340.80 apiece.

SoftBank is the largest public stakeholder in the logistics company, holding an 18.42% stake as of December 31, 2022, through its entity SVF Doorbell (Cayman) Ltd. Softbank acquired over 22% stake in the company in October 2018.

Shares of Delhivery, which floated its initial public offering in May last year, at an issue price of Rs 487, ended 1.23% higher at Rs 348.40 on Wednesday.