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Snapdeal, the forgotten one, seeks $400 million IPOš¤
Ecommerce retailer Snapdeal, which was once among the top three e-commerce firms in India, isĀ considering an initial public offering in Mumbai to raise about $400 million. It joins a growing list of startups looking to benefit from the booming digital economy.
In February of 2010 Kunal Bahl and Rohit Bansal had started Snapdeal.com. The company had over 35 million-plus products across 800 plus diverse categories from over 125,000 regional, national, and international brands and retailers.
In 2017, it walked away from a potential merger with Flipkart, which would have united the two local firms against Amazon.
Zomato shuts down its businesses in UK, Singaporeš
Food delivery firm Zomato hasĀ shuttered its overseas subsidiaries in the UKĀ (Zomato UK Limited) and Singapore (Zomato Media Private Limited), according to a stock exchange filing the company made on Wednesday.
The firm has been shutting international subsidiaries that donāt contribute to its business since it went public in July.
The company said in the latest filing that its UK and Singapore subsidiaries were not material to its business and their dissolution would not affect its turnover or revenue.
Hot Shortsā”
Bikayi, a mobile-commerce enabler, has raised $10.8 million in a Series-A funding round, led by Sequoia Capital India.
Village-tech start-up 1Bridge (RubanBridge Pvt. Ltd) raised $2.5 million funding led by Netherlands-based impact investor C4D Partners.
A quick recap of the weekš
Monday
Startup culture now vibrant in India: PM Modi during Mann Ki Baatš
MapmyIndia looks to raise Rs 1200-1300 Cr via IPOš
Indian internet startups raised over $20 billion from global investors in 2021š„
Tuesday
Ola Ropes In Citigroup & Kotak Mahindra To Manage Its $1 Bn IPOšø
PhonePe bags insurance broking licencešŖš»
TikTok owner ByteDance takes the first step into virtual realityš§
Wednesday
India's GDP grows 20.1% in April-Juneš
Prosus buys Billdesk for $4.7 billionš°
Nifty Hits 17000 for First Time, Fastest 1000-pt Gain Everš¤©
Thursday
Accenture quietly cleans up Facebook for $500 million a yearš§¹
Zerodha gets approval to launch mutual fund businessā
Four Tesla models get green signal in Indiaš
Friday
Figuring out the approval process for Starlink in India: Muskš”
Apple hit with antitrust case in India over in-app paymentsā
PhonePe makes its payments data available to everyoneš
Funding Deals
Elevar, aĀ Mumbai-based D2C sports brand, hasĀ raised Rs 19 croreĀ in a Series A round-headed by Kalaari Capital and Dream Sports.
Factors.AIĀ is aĀ B2B SaaS startupĀ situated in the US and Bengaluru hasĀ raised $2 millionĀ in seed funding.
OTO Capital, a startup that helps customersĀ buy or lease two-wheelers, hasĀ raised $6 millionĀ in a Series A investment round.
Sparks Studio, a virtual extracurricular platform, has received aĀ $125,000 investmentĀ from San Francisco-based Y Combinator.
Peppermint, an industrial robotics startup,Ā has raised Rs 5 croreĀ in a funding round.
Codingal, an ed-tech startup focused on coding,Ā has raised $1.2 millionĀ in a seed funding round.
AppsForBharat, a product studio for spiritual and devotional content, hasĀ raised $10 millionĀ in a Series A funding round.
Revos, an electric vehicle infrastructure startup, hasĀ raised $4 millionĀ in its Series A investment.
Dezerv Investments, a wealth management startup, hasĀ raised $7 millionĀ from Elevation Capital and Matrix Partners India.
Have a wonderful weekend!š„³
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