Delhivery raises $76 million🚚

Jio Completes Five Years, NTPC to develop green energy projects and more.

Rise & Shine ☀

Sep 7, 2021

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Delhivery raises $76 million from Lee Fixel's Addition ahead of IPO🚚

Ahead of its initial public offering, the Gurgaon-headquartered Delhivery has raised $76.4 million from Lee Fixel's venture Capital firm Addition as part of a Series I round, as per the regulatory filings sourced from Tofler.

Founded in 2011 by Sahil Barua, Mohit Tandon, Bhavesh Manglani, Kapil Bharati and Suraj Saharan, the logistics startup is planning to list on exchanges between December 2021 and March 2022.

The company last announced an investment of $100 million from FedEx Express, a subsidiary of leading global express transportation company FedEx Corp in July.

Last month, it also acquired Bengaluru-based Spoton Logistics, a move aimed at further strengthening its B2B capabilities.

Jio Completes Five Years; Tech World Congratulates🖐🏻

From Google India to Zomato, and Netflix to Paytm – the who’s who of the tech world lined up to congratulate a company’s five years of operations. No surprise, they have been a beneficiary of the data revolution that Reliance Jio brought with its dirt-cheap rates.

Data usage in India has zoomed 1,300% and the number of broadband users grew four times since September 5, 2016, when billionaire Mukesh Ambani marked re-entry into the telecom space with Jio.

This led to an exponential increase in data consumption with monthly data consumption per user witnessing over 1303% jump from 878.63 MB to a staggering 12.33 GB between December 2016 to March 2021, internet data cost has gone down by over 93% from around Rs 160 per GB to Rs 10.77 a GB.

While HDFC said ”sar uthake jeena koi tumse seekhe”, Hotstar said: ”From asking ’What’s the score?’ to watching it LIVE, cheers to #5YearsOfJio.” Google, Netflix, Amazon Prime Video, PhonePe, Apollo Hospitals, Ashok Leyland, Tinder India, Voot, Zee5, Samsung India, Vivo, Oppo, Dominos India, and Sony Liv were among the lot that took to Twitter to congratulate Jio on its 5th anniversary.

Before Jio ushered in the digital revolution, India had 10 unicorns; this list has now burgeoned to at least 53.

Dukaan , an online retail platform that helps businesses go digital, has raised $11 million in a funding round led by 640 Oxford Ventures at a valuation of $71 million.
Biddano, a healthcare supply chain platform, has raised $2 million in a funding round. The Pune-based startup will use the capital for product development, engineering and build its go-to-market teams.
NeuroPixel.AI, a Saas startup, has raised $825,000 in a seed round led by Inflection Point Ventures (IPV).

NTPC to partner with NIIF, ONGC to acquire and develop green energy projects🏭

India’s largest power generation utility NTPC Ltd plans to partner with India's quasi-sovereign wealth fund, the National Investment and Infrastructure Fund (NIIF) and state-owned Oil and Natural Gas Corp (ONGC) for acquiring and developing green energy assets including offshore wind projects.

NTPC Group reported a net profit of $1.85 billion for FY21.

This comes in the backdrop of NTPC preparing for initial public offerings (IPOs) for its clean energy subsidiaries NTPC REL and NTPC Vidyut Vyapar Nigam Ltd (NVVN).

It plans to invest ₹1 trillion between 2019 and 2024 to become a 130GW power producer by 2032.