India Startup Funding Update, Dec 10
Updated Dec 10, 2018 04:51 pm
Dec 10, 2018
1. SoftBank to invest about $150-200 million in online retailer of fashion and beauty products, Nykaa, at a valuation that could be in the range of $700-800 million.
2. Food Safety and Standard Authority of India (FSSAI) have found that Zomato has delisted 2,500, Swiggy 4,000, Foodpanda 1,800, UberEats 2,000 partner hotels as they did not have the food safety regulator’s approval.
3. Zomato has claimed to cross 1M orders in a day, also launched Zomato Pickup that allows you pick up ordered food from restaurants across 13 cities.
4. According to a media report, Facebook-owned WhatsApp is planning to allow advertisements to be displayed in the "Status" section of the app. The report also states that ads are coming to WhatsApp for iOS, and the same will happen to WhatsApp for Android as well.
5. ShopClues has launched an ‘International Store’ on its platform that will have products spanning across 117 categories and has partnered with international aggregators to offer apparels, mobile accessories and home décor.
6. Cognizant has let go of about 200 senior employees at the director level and above this year, with a severance payout of three-four months, reported ET.
7. Twitter is looking for a country director to head India
8. Early stage venture capital firm, IDG Ventures India, has rebranded itself to Chiratae Ventures, as part of a broader strategy to move away from the global brand and appeal more to entrepreneurs in India. They also plans to raise a $275-300 million fund under the new brand and will hit the road later this year, reported ET.
9. Metropolitan Stock Exchange of India Limited (MSE) is planning to invest $100 Mn on MSME and startups, with the launch of a robust platform for the development of both equity and debt market segments.
10. Mumbai-based investment management firm, Alpha Capital Advisors, has raised commitments to invest about Rs 1,500 Cr) over the next three-four years in India towards consumer-facing business.
11. Mumbai-based online marketplace for pre-owned cars Truebil has raised close to $1 million in a fresh round of funding, reported VCCircle.
Keyphrases: Raising Funds in India, Doing Business in India, Investing in India, Make in India, Startups in India, Raising money in India, find investors in India
local_offerTags: investing in india india startup