Amazon is seeking an Indian antitrust watchdog’s approval to buy Catamaran Ventures’ stake in Prione, which operates one of the largest sellers on the e-commerce platform, months after the two firms said they won’t renew their joint venture after May next year. The announcement comes as a surprise as Catamaran owns a 76% stake in […]
The long haul of Microsoft’s China localization
In 2019, when LinkedIn began asking for Chinese users’ phone numbers, it was clear that the professional social network would have to follow a different set of rules in the country. But it realized simply setting up the real-name verification regime required by Chinese authorities wasn’t enough; it faced a mounting task of balancing censorship […]
Zepto, a 10-minute grocery delivery app in India, raises $100 million
Zepto, a Mumbai-based startup that operates a 10-minute instant grocery delivery service, has more than doubled its valuation to $570 million from $225 million less than two months ago as it expands into newer cities. Y Combinator’s Continuity Fund led the $100 million Series C round in Zepto, the two said Monday. Glade Brook, Nexus, […]
Melbourne-based edtech startup Vivi raises $20M to accelerate overseas expansion in race to reach 1M classrooms
Australian edtech startup Vivi has raised $20 million from education investor Quad Partners, funds that it intends to use to improve its platform, upgrade its operational infrastructure and hire more sales and marketing teams in the Americas, Europe and Asia. This latest round sees Vivi reach $24.3 in total capital over five years, after it […]
India’s OfBusiness valued at $5 billion in $325 million funding
OfBusiness, a New Delhi-headquartered startup that sells industrial goods and provides small businesses with credit, has secured its fourth financing round this year and is now valued at about $5 billion. Alpha Wave Global, Tiger Global, and SoftBank Vision Fund 2 led the startup’s $325 million Series G financing round. Alpha Wave Global, formerly known […]
India’s Cars24, a used-vehicle sales platform, raises $400M, now at a $3.3B valuation, to double down on growth
With supply chains in the automotive industry continuing to be disrupted due to Covid-19, demand has surged in the used-car market. Today, one of the startups that’s seeing a lot of growth as a result of that is announcing a big round of funding to further tap the opportunity. Cars24, a startup out of India […]
Kurly lands $210M pre-IPO at a $3.3B valuation months after its last funding
Just half a year after its last Series F round announcement, Korean online grocery startup Kurly has closed $210 million in a pre-IPO round from single backer Anchor Equity Partners, a Hong Kong-based private equity firm. The latest funding brings its total raised to approximately $761 million and values the company at $3.3 billion. The Seoul-based startup that […]
Indian fintech giant Razorpay valued at $7.5 billion in $375 million funding
Razorpay has more than doubled its valuation to $7.5 billion from $3 billion in April as one of India’s largest fintech giants demonstrates fast growth and aggressively broadens its product offerings. The Bangalore-headquartered startup, which is a market leader in payments processing in India, said Sunday evening it has raised $375 million in its Series […]
India antitrust watchdog suspends Amazon’s 2019 deal with Future, imposes fine
An Indian antitrust watchdog has revoked the approval it had granted for Amazon’s 2019 investment in a Future Group unit and imposed a fine of about $26.3 million to the American e-commerce giant for concealing facts. The Competition Commission of India said Amazon, which invested in Future Coupons in 2019, “suppress[ed] the actual scope and purpose […]
India’s most valuable startup Byju’s in talks to go public via record SPAC deal
Indian edtech giant Byju’s, the nation’s most valuable startup, is in talks to go public in the U.S. by merging with a blank check company led by Churchill Capital, a person familiar with the matter said. Byju’s, currently valued at about $21 billion, is seeking a valuation of over $45 billion and looking to raise […]