India has a new unicorn after BigBasket, a startup that delivers groceries and perishables across the country, raised $150 million for its fight against rivals Walmart’s Flipkart, Amazon and hyperlocal startups Swiggy and Dunzo.
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Private equity (PE) and venture capital (VC) investments in the month of April took a breather after an exceptional performance in March, due to a tepid deal flow in infrastructure and financial services. Data from research firm Venture Intelligence (VI) shows that April saw $2.3 billion in PE-VC investments compared to over $6 billion in March, when large-value infrastructure and NBFC deals made up over 60%, making the earlier month an outlier. The number of PE-VC deals in April rose marginally to 68 from 58 deals in March.
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IndiaTech, the startup lobby group backed by the chiefs of Ola and MakeMyTrip, is eager to help startup founders retain power in their companies for at least two decades in comparison to the current five years post its IPO.
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Ride hailing major Ola on May 6 said Ratan Tata, Chairman Emeritus of Tata Sons, has invested in its EV business – Ola Electric Mobility (OEM). This investment, which is part of OEM’s series A round of funding, is in Tata’s personal capacity, Ola said in a statement.
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EtechAces Marketing and Consulting Pvt Ltd, the parent of PolicyBazaar and PaisaBazaar portals, has secured about $152 million (Rs 1,059.4 crore) in the first tranche of its Series F funding round, led by Japan’s SoftBank Vision Fund, according to the company’s filings with the Registrar of Companies (RoC) sourced by paper.vc.
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Online pharmacy Medlife announced the acquisition of Bengaluru-based medicine delivery startup Myra Medicines, on Monday. This acquisition will enable Medlife to strengthen its pharma business and accrued profits.
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