Snapdeal seeks $400 Mn IPO🛍

Zomato shuts down in UK & Singapore, Quick recap of the week.

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Snapdeal, the forgotten one, seeks $400 million IPO🤠

Ecommerce retailer Snapdeal, which was once among the top three e-commerce firms in India, is considering an initial public offering in Mumbai to raise about $400 million. It joins a growing list of startups looking to benefit from the booming digital economy.

In February of 2010 Kunal Bahl and Rohit Bansal had started Snapdeal.com. The company had over 35 million-plus products across 800 plus diverse categories from over 125,000 regional, national, and international brands and retailers.

In 2017, it walked away from a potential merger with Flipkart, which would have united the two local firms against Amazon.


Zomato shuts down its businesses in UK, Singapore🔒

Food delivery firm Zomato has shuttered its overseas subsidiaries in the UK (Zomato UK Limited) and Singapore (Zomato Media Private Limited), according to a stock exchange filing the company made on Wednesday.

The firm has been shutting international subsidiaries that don’t contribute to its business since it went public in July.

The company said in the latest filing that its UK and Singapore subsidiaries were not material to its business and their dissolution would not affect its turnover or revenue.

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Hot Shorts⚡

  • Bikayi, a mobile-commerce enabler, has raised $10.8 million in a Series-A funding round, led by Sequoia Capital India.

  • Village-tech start-up 1Bridge (RubanBridge Pvt. Ltd) raised $2.5 million funding led by Netherlands-based impact investor C4D Partners.


A quick recap of the week🚄

Monday
  • Startup culture now vibrant in India: PM Modi during Mann Ki Baat🎙

  • MapmyIndia looks to raise Rs 1200-1300 Cr via IPO📊

  • Indian internet startups raised over $20 billion from global investors in 2021🔥

Tuesday
  • Ola Ropes In Citigroup & Kotak Mahindra To Manage Its $1 Bn IPO💸

  • PhonePe bags insurance broking licence💪🏻

  • TikTok owner ByteDance takes the first step into virtual reality🧐

Wednesday
  • India's GDP grows 20.1% in April-June📈

  • Prosus buys Billdesk for $4.7 billion💰

  • Nifty Hits 17000 for First Time, Fastest 1000-pt Gain Ever🤩

Thursday
  • Accenture quietly cleans up Facebook for $500 million a year🧹

  • Zerodha gets approval to launch mutual fund business✅

  • Four Tesla models get green signal in India🚗

Friday
  • Figuring out the approval process for Starlink in India: Musk📡

  • Apple hit with antitrust case in India over in-app payments⚖

  • PhonePe makes its payments data available to everyone😇

Funding Deals

  • Elevar, a Mumbai-based D2C sports brand, has raised Rs 19 crore in a Series A round-headed by Kalaari Capital and Dream Sports.

  • Factors.AI is a B2B SaaS startup situated in the US and Bengaluru has raised $2 million in seed funding.

  • OTO Capital, a startup that helps customers buy or lease two-wheelers, has raised $6 million in a Series A investment round.

  • Sparks Studio, a virtual extracurricular platform, has received a $125,000 investment from San Francisco-based Y Combinator.

  • Peppermint, an industrial robotics startup, has raised Rs 5 crore in a funding round.

  • Codingal, an ed-tech startup focused on coding, has raised $1.2 million in a seed funding round.

  • AppsForBharat, a product studio for spiritual and devotional content, has raised $10 million in a Series A funding round.

  • Revos, an electric vehicle infrastructure startup, has raised $4 million in its Series A investment.

  • Dezerv Investments, a wealth management startup, has raised $7 million from Elevation Capital and Matrix Partners India.


Have a wonderful weekend!🥳

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