FutureTech

Large funding rounds at large valuations have been attracted to food supply chain platforms. Udaan, the market leader, raised new funds at a $3 billion valuation, while Ninjacart’s last round was valued at $850 million. Waycool, based in Chennai, has also closed a $117 million debt and equity round, valuing the company at $460 million. While Udaan’s valuation was based on a staggering 6X increase in scale, Waycool’s operating revenue increased by 40% in FY21 to Rs 382.33 crore, up from Rs 273 crore in FY20. Ninjacart’s operating revenue increased…

Moglix, a B2B industrial goods marketplace, has raised $250 million in a Series F funding round led by existing investors Tiger Global and Alpha Wave Global, with Hong Kong-based Ward Ferry participating. Moglix claims to have raised a new round at a valuation of $2.6 billion, with early investors who had invested in the company’s seed round seeing an 80X return on their investment in this round. Sequoia Capital, Accel Partners, International Finance Corporation, Harvard Management Company, and industry legend Ratan Tata are among the investors in the Noida startup,…

Former Facebook Messenger platform director Anand Chandrasekaran has joined General Catalyst as a partner and investor, at a time when global venture capital and private equity firms are refocusing their attention on the Indian market. According to a tweet he sent out on Friday, he will be focusing on investments in India and the United States in his new role. Airbnb Inc., Stripe Inc., Snap Inc., Grammarly and Giphy are among the Silicon Valley heavyweights that General Catalyst has invested in. Its portfolio in India includes CityMall, Cred, Uni, and…

Despite a global market downturn, Indian startups received record investments of up to $3.5 billion across 130 deals in January, marking a decadal high and signalling sustained investor interest in the country’s booming startup ecosystem. According to data compiled, staffing firm Xpheno, the brisk pace, which has seen over four deals a day and over $115 million in daily inflows in disclosed deal value, comes at a time when the private equity and venture capital industry was bracing for a slower 2022 based on global and domestic cues. The total…

India’s unicorns and soonicorns, flush with money, are chasing top talent like never before to keep up with their rapid growth. In India, around 130 unicorns and soonicorns are expected to hire twice as many CXOs in 2022 as they did in 2021. According to Xpheno, a specialist staffing firm, these 130 unicorns and soonicorns are likely to hire 100 to 120 CXOs in 2021, compared to 50 in 2021. Xpheno mapped 400 CXOs across 75 unicorns and over 50 soonicorns for this survey, capturing their professional profiles in order…

Ola plans to open 500 dark stores across 20 cities as part of an aggressive push for its quick commerce service, Ola Dash. The move comes at a time when several platforms, including Swiggy and Zomato, are looking to expand their presence in this fast-growing market. Others, such as Zomato-backed BlinkIt (formerly Grofers), Dunzo, and Mumbai-based Zepto, are beefing up their instant delivery offerings as well. Swiggy raised $700 million in a funding round led by US asset manager Invesco earlier this week, valued at $10.7 billion. Last week, Zepto…

Hyderabad-based Our Food, a tech-driven agribusiness platform, has raised $6 million in a growth funding round led by 3Lines Venture Capital and C4D Asia Fund. Lalit Jalan, Chairman of 3Lines India and former CEO of Reliance Infrastructure, will join the company’s board of directors as part of the deal. The startup had previously raised $200,000 in a seed round from 3Lines and 10,000 Startups, a Nasscom initiative to support technology entrepreneurship in the country, in 2018. Bala Reddy, an IIM-Ahmedabad alumnus, founded the company in 2016 with the goal of…