Record number of unicorns and IPOs: Indian startups raised $39B in 2021

In late March last year, as the virus started to spread across India, investors began to worry about the impact a potential pandemic could have on their portfolio firms. They exchanged notes, and on April 1, penned a joint open letter to the local startup ecosystem, advising firms to “prepare for the worst.” In the […]

Zomato in talks to invest in India’s Shiprocket, Magicpin and CureFit

Indian food delivery firm Zomato is in talks to back logistics firm Shiprocket, savings app Magicpin, and health and fitness firm CureFit, four people familiar with the matter told me. All these investment talks are at final stages and some may close as soon as this week, one of the sources said. The investment in […]

Paytm raises $1.1 billion from anchor investors in India’s blockbuster IPO

Paytm has raised $1.1 billion in India’s largest ever anchor round as part of its initial public offering, which is also shaping to be the nation’s largest, as the poster child of the Indian startup ecosystem moves closer to listing in the public markets. Blackrock, GIC, Canada Pension Plan Investment Board, Birla MF are among […]

How newcomer River plans to fill a gap in India’s competitive EV two-wheeler market

Two wheelers have long been a cornerstone of life in India — their smaller size and affordability making these traditionally gas and diesel-powered vehicles a go-to means of navigating the traffic-jammed streets of the country’s most populous cities. Now, a new startup called River has come out of stealth with an electric two-wheeler scooter — […]

Bankers chase Byju’s for IPO, valuation pegged up to $50 billion

Nearly every top investment bank is chasing Byju’s and nudging the most valuable Indian startup to seriously explore the public markets as soon as next year. Most banks have given Byju’s a proposed valuation in the range of $40 billion to $45 billion, but some including Morgan Stanley have pitched a $50 billion valuation if […]

Ultrahuman raises $17.5M, touting a wearable blood glucose tracker

Fitness platform Ultrahuman has officially announced a $17.5 million Series B fund raise, with investment coming from early stage fund Alpha Wave Incubation, Steadview Capital, Nexus Venture Partners, Blume Ventures and Utsav Somani’s iSeed fund. A number of founders and angel investors also participated in the Bangalore-headquartered startup’s Series B, including Tiger Global’s Scott Schleifer, […]

Zomato’s losses widen in first quarterly earnings since IPO

Zomato’s losses more than tripled in its first quarterly earnings report since its listing last month as the company’s expenses grew and the pandemic hit the firm’s dining-out business. The Gurgaon-headquartered firm reported (PDF) a net loss of $48 million in the quarter that ended in June, up from about $13.5 million during the same period […]

China’s expected edtech clampdown may chill a key startup sector

News that China’s government may force domestic tutoring-focused companies to go nonprofit is taking a huge bite out of the value of several technology companies. Bloomberg notes that the value of companies like New Oriental Education & Technology Group and TAL Education are tumbling in light of the news, which would constitute merely the latest […]