Food delivery platform Swiggy on Monday announced that it raised $700 million in a new funding round led by Invesco. The funding round saw participation from new investors such as Baron Capital Group, Kotak, among others. Swiggy said existing investors like Alpha Wave Global, Qatar Investment Authority, Ark Impact, Prosus also participated in the round. Economic … Read more
Shareholders’ activism in Indian Companies is increasing. Shareholders are finding new ways to make themselves heard by the management. Now Venkat Subramanian, the MD of Infina Finance (an investment company jointly owned by Kotak Mahindra Bank and the Kotak family) has written an open letter to Sanjeev Bikhchandani, the Co-founder of Info Edge India (IEL). … Read more
Zomato co-founder Deepinder Goyal said India is a tough market to operate in but the company will not focus on short term profits at the cost of long term success of the food delivery company. “India is a tough market to operate in, but if you are building to succeed in India, you are already … 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
Amazon-backed food delivery startup Deliveroo is anticipated to float in 2021, marking a rare high-profile British technology float. Like rival Uber Eats, Deliveroo allows consumers to order restaurant food via an app and relies on a network of gig economy cyclists and motorcyclists to make the deliveries. During the coronavirus pandemic, it has expanded into … Read more
Info Edge on Friday said its investee company Zomato has raised $195 million (about Rs 1,455.4 crore) in funding from six investors including Luxor, Kora and Steadview, valuing the online food ordering platform at $3.6 billion. “Zomato Pvt Ltd has closed a primary fundraise of $195 million from six different investors…The transactions valued Zomato at … Read more