The plunge in startup valuations could last years, say VCs at the firm Redpoint Ventures. The situation is similar to the dot-com bust after the 1999’s tech boom, they say. But one big difference from two decades ago is the record piles of cash VCs are sitting on now. Venture capitalists were partying like it … Read more
Bolt, a San Francisco fintech startup that provides an online checkout solution for other companies, is still in talks to raise new money at a valuation of $14 billion, according to a source familiar with the matter. The deal comes only weeks after Bolt closed $355 million in a Series E round, valuing it at … Read more
Sustainable mobility brand, Ninety One has raised ₹225 crore (or roughly $30 million) as a part of its latest Series A funding, the company said in a statement on Wednesday. The round saw A91 Partners LLP infusing around ₹160 crore, with participating investors including Fireside Ventures, Avaana Capital and Tital Capital infusing another ₹65 crore … Read more
Overseas education company, Leap, on Wednesday said it has raised $55 million (or roughly Rs400 crore) as a part of its Series C funding round, led by Owl Ventures. The round also saw participation from Harvard Management Company, Inc, along with existing investors Jungle Ventures and Sequoia Capital India. This round comes just six months … Read more
Global venture capitalists and private equity investors are allocating more funds to India as China steps up regulatory clampdown on its tech companies. India overtook China in July for the first time since 2013 in VC funding, according to a Bloomberg report. Indian startups raised nearly $8 billion in July, while funding to Chinese firms … Read more
Drive Capital created an artificial intelligence tool named Herbie to help find great companies. Herbie uses data to create a daily digest of startups that it thinks are worth a second look. Masha Khusid, a partner at Drive, says the tool helps the partners close deals faster. Masha Khusid, a partner at Drive Capital, opens … Read more
The Bengaluru-based company now offers direct investments in mutual funds, stocks, initial public offerings, digital gold, and exchange traded funds. It is backed by fintech investor Ribbit Capital, YC Continuity Fund, and Propel Ventures, apart from Tiger Global and Sequoia. The company has raised more than $142 million from investors, of which $113 million came … Read more
American depositary shares of Vaccitech fell nearly 20% in their Nasdaq debut on Friday, giving the co-inventor of the Covid-19 vaccine developed by AstraZeneca Plc and Oxford University a market value of about $464 million. The biotech firm’s shares opened at $13.62, below the initial public offering (IPO) price of $17 apiece for 6.5 million … Read more
Zomato said revenue from operations rose from ₹466 crore in FY18 to ₹2,604 crore in FY20. Food delivery app Zomato Ltd., backed by China’s Ant Group, on Wednesday filed a draft red herring prospectus (DRHP) with the Securities & Exchange Board of India (SEBI) to raise ₹8,250 crore. The IPO would comprise fresh issue of … Read more