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 […]
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 […]
Falcon Edge Capital eyes raising a fund of over $10 billion
Falcon Edge Capital, the New York-headquartered investor that has emerged as one of the most aggressive in recent years, is pushing to make its most ambitious bet yet. The firm is in early stages of talks to raise a fund of over $10 billion, sources familiar with the matter told me. The talks have yet […]
Tiger and Falcon look to double down on Indian social commerce startup DealShare
Tiger Global and Falcon Edge Capital are looking to double down on their bets on DealShare, becoming the latest high-profile investors to go all-in on India’s nascent but growing social commerce trend. The two firms, both of which are already an investor in Jaipur-headquartered startup (AWI, which is managed by Falcon, is an early investor […]
India’s OfBusiness in talks to raise new funds at over $4.5 billion valuation
OfBusiness, an e-commerce startup that sells industrial goods and provides small businesses with credit, is in talks to raise a new round of funding at a valuation of over $4.5 billion, three sources familiar with those talks told me. If the talks materialize, it would be the fourth financing round OfBusiness will secure this year. […]
Indian food delivery giant Swiggy in talks to raise funds at over $10 billion valuation
Indian food delivery startup Swiggy is in talks to raise over $500 million in a new financing round that could value it at over $10 billion, two sources familiar with the matter told TechCrunch. Atlanta-headquartered Invesco is in talks to lead — or co-lead — the new financing round in the Bangalore-based startup, which counts […]
Ola Electric in talks to raise at over $2.75 billion valuation
Ola Electric is in advanced talks to raise between $250 million to $500 million in a new financing round as the Indian firm looks to scale its electric vehicle manufacturing business in the South Asian market, according to two sources familiar with the matter. Falcon Edge Capital is in advanced talks to the lead the […]
Indian online insurer PolicyBazaar files for IPO, seeks to raise over $800 million
Indian online insurance aggregator PolicyBazaar has filed for an initial public offering in which it is seeking to raise $809 million, becoming the fourth startup in the past two months from the South Asian market to explore public markets. In papers submitted to the market regulator in India, PolicyBazaar said it is looking to raise […]