Baron Capital values Swiggy at $14.7 Bn
US Investor Baron Capital has valued food-tech company Swiggy at $14.74 billion as of June 2024, according to information available on its website. This is nearly 2.6% down from its last $15.1 billion valuation estimates by Baron Capital in March. The valuation dip in June appears to be a result of rupee depreciation. This comes at a […]
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Exclusive: ReshaMandi faces complete layoffs, website shutdown, and auditor red flag
The road for ReshaMandi appears to have come to an end as the firm has laid off its entire workforce, sources close to the firm told Entrackr . Significantly, the Creation Investments-backed firm’s website has been down for the past week, coinciding with the resignation of its auditor. “It’s all over for ReshaMandi,” said one […]
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EyeROV, a marine robotics deeptech startup providing products and solutions in the field of underwater domain, has raised Rs 10 crore (or $1.2 million) in a pre-Series A funding round led by Unicorn India Ventures.
Specialising in marine robotics and AI Founded in 2016 by IIT Alumnus Johns T Mathai and Kannappa Palaniappan P, EyeROV is a pioneering deep-tech company specialising in marine robotics and AI. The startup aims to revolutionise industries such as energy, maritime, defence, and infrastructure through its cutting-edge unmanned technologies. It claims to have introduced India’s […]
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Fast fashion brand Newme raises $18 Mn in Series A
Gen-z focused fast fashion brand Newme has raised $18 million in its Series A round led by Accel with participation from existing investors including Fireside Ventures and AUM Ventures. The Bengaluru-based startup had raised $5.4 million in January this year. It also raised an undisclosed round from investors such as Aum Ventures, 2am VC and All In […]
Read More![Funding and acquisitions in Indian startup this week [01 – 06 July]](https://www.racecapital.in/wp-content/uploads/2024/07/Lead-6-july-768x768-1.jpg)
Funding and acquisitions in Indian startup this week [01 – 06 July]
[Growth-stage deals] Among the growth-stage deals, 4 startups raised $234.2 million in funding this week. E-commerce company Purplle topped with its $120 million Series F round. Hospitality firm OYO, EV startup Matter and agritech brand Arya.ag followed with $50 million, $35 million and $29.2 million funding respectively. [Early-stage deals] Moreover, 20 early-stage startups secured funding […]
Read More![[City and segment-wise deals]](https://www.racecapital.in/wp-content/uploads/2024/07/City-6-july-768x768-1.jpg)
[City and segment-wise deals]
In terms of the city-wise number of funding deals, Bengaluru-based startups led with seven deals followed by Delhi-NCR, Mumbai, Pune and Ahmedabad among others.
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Blackbuck files DRHP; Accel to divest 24.2% of OFS
Online trucking platform Blackbuck has filed its draft red herring prospectus (DRHP) with the Security Exchange Board of India (SEBI) for an initial public offering (IPO). The firm has proposed to raise funds through a fresh issue of equity shares aggregating up to Rs 550 crore and an offer for sale (OFS) of up to […]
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Suzuki rolls out Rs 340 Cr Next Bharat Ventures fund for Indian startups
Japanese automotive conglomerate Suzuki has launched an India-focused venture investment arm called Next Bharat Ventures, with a corpus of Rs 340 crore to back early-stage startups. The vehicle will be set up as a subsidiary of Suzuki, which will be the sole limited partner (LP) for the first fund and LPs are sponsors in the […]
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Agritech startup Arya.ag raises $29 Mn at valuation of $325 Mn
Agritech startup Arya.ag has raised Rs 242.36 crore approximately ($29.2 million) from existing investors. This is the first round of investment for the Noida-based company since January 2022. The board Arya.ag has passed a special resolution to issue 53,695 CCPS at an issue price of Rs 45,137 each to raise the aforementioned sum ($29.2 million), […]
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Seven questions on AI investments that shareholders and board must ask the CEO
Early this June, Salil Parekh, CEO, Infosys, announced that the IT major was a GenAI-first company. Shortly after, N Chandrasekaran, chairman, Tata Sons, announced TCS’s aspiration to become a GenAI-first company. These two cases highlight the pivotal shifts in corporate artificial intelligence (AI) strategies. Entities in India spent USD1.7038 billion on AI in 2023, according […]
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