SoftBank's Zomato Exit Plan🍕, Microsoft's FY23 Triumph🪟

Oct 20, 2023

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SoftBank Initiates Stake Reduction in Zomato, Eyes Full Exit🍕

SoftBank's fund-SVF Growth (Singapore) Pte. Ltd is set to sell a minimum of 1.1% stake in Zomato Ltd for approximately ₹1,020 crore on October 20. This move signifies SoftBank's strategy for a complete exit from the food delivery sector. 💵

Microsoft India Reports Impressive FY23 Revenue Growth🪟

Microsoft Corp. India Pvt. Ltd. showcased remarkable financial performance in FY23, with operating revenue soaring by 39% to ₹19,229 crore. This surge was attributed to the company's robust services offerings, underscoring its strong market presence. 🚀

Tata Motors Invests ₹150 crore in Freight Tiger🚚

Tata Motors is set to acquire a 27% stake in 'Freight Tiger,' a Software as a Service (SaaS) company, for ₹150 crore. The deal also includes an option for Tata Motors to invest an additional ₹100 crore over the next two years, reflecting its strategic interest in the growing logistics technology sector. 💻

Google's Pixel Phones to be Made in India📱

Google announced its plan to manufacture its latest Pixel phones in India starting next year. This move aligns with the 'Make in India' initiative, reflecting Google's commitment to local production and supporting the country's manufacturing sector. 🇮🇳

Coliving Startup Settl Expands to Chennai🗺️

Coliving startup Settl announced its expansion into the Chennai market, planning to launch 300 beds for working professionals. Currently managing 3,500 beds across Bengaluru, Gurugram, and Hyderabad, Settl aims to add 1,000 more beds by March, extending its footprint in the coliving sector. 🏠

Vastu Housing FinanceCorporation Limited (Vastu) has raised $30 million in a fund raise from Mumbai-based private equity fund Faering Capital.
BharatAgri, an advisory-led e-commerce platform for farmers, has raised $4.3 million (Rs 35 crore) in its extended Series A funding round led by Arkam Ventures. The round also saw participation from Capria Ventures and existing investors, India Quotient, 021 Capital, and Omnivore.
Smarter Dharma, a real estate-focused startup, has raised $500,000 in its maiden funding round. The round saw participation from Zerodha’s Rainmatter, Gruhas, Anthill Ventures and others.
HiWi, a cross-border fintech, has raised Rs 7.25 crore in a pre-seed round from Unicorn India Ventures and the Unmaj Group Family Office.
Mestastop Solutions has raised Rs 4.5 crore or $500k in a pre Series A round led by 92 Angels and Malpani Ventures.
Welcome Cure has raised over 4 crore in pre-series A round led by Inflection Point Ventures (IPV).

“The first principle is that you must not fool yourself – and you are the easiest person to fool.”
— Richard Feynman

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