India Startup Funding Update, Oct 21
Oct 21, 2018
1. Swiggy is reportedly in talks to raise $700 million from new investors such as Tencent Holdings Ltd at a valuation of $2.5 billion, to enter new businesses and areas, especially in the hyperlocal delivery space. The company has also launched its services in eight new cities including Dehradun, Puducherry, Mysore, Vijayawada, Nashik, Guwahati, Kanpur and Ludhiana.
2. Digital lending platform Qbera Loans has raised $3 million from E City Ventures, a subsidiary of Essel Group.
3. Private equity and investment advisory firm CVC Capital Partners is acquiring a majority stake in UnitedLex, an enterprise legal services provider to corporations, law firms, and universities.
7. Urban Ladder is set to raise $5.06 million (Rs 36.29 crore at current exchange rates) in a fresh funding round from venture debt firm Trifecta Capital. The company has already received around Rs 16.50 crore ($2.3 million) out of the targeted sum in July, the company's filings with the Registrar of Companies show.
Keyphrases: Raising Funds in India, Doing Business in India, Investing in India, Make in India, Startups in India