#TodayDeals: WeWork to Raise Funds at $35B Valuation, Zomato Invests $15M in Bengaluru-based Loyal Hospitality & More
Below is a list of deals that happened in Indian Startup Ecosystem today. Read a brief description about all of them:
1. HomeLane.com, an online home interior brand, has raised Rs 24 crore from Brand Capital.
2. Zomato has committed to investing $15 million in Bengaluru-based Loyal Hospitality to expand its cloud kitchen operations in Bengaluru. The first tranche of $5 Mn has already been invested. Also Zomato is shutting down its own cloud kitchen operations under Zomato Infrastructure Services (ZIS).
3. The office-sharing company WeWork is seeking to raise funds at a $35 billion valuation, according to an executive at SoftBank Group Corp., which is a major WeWork investor.
4. Chinese investment company Fosun International is in the process of closing three early-stage deals in India, where the cheque size is expected to be sub-million range. The firm is also in the final stages of closing a Series B funding round in a venture.
5. Food Processing Minister Harsimrat Kaur Badal has asked the Department of Industrial Policy and Promotion (DIPP) to relax restrictions imposed on Amazon’s food retailing plans, reported ET.
6. Billionaire Mukesh Ambani is planning to enter the e-commerce business by combining the best of online and offline shopping experiences, reported LiveMint.
7. Amazon India has launched a platform for lenders and sellers wherein sellers can choose from competitive rates and loan offers.
8. Chennai based alternate finance growth stage startup OpenTap has expanded operations in Tamil Nadu
9. Mahindra Electric Mobility will join forces with fleet operators and cab aggregators such as Zoomcar, Ola and Uber to shore up sales of its electric passenger vehicles.
10. Ratan Tata & Kalaari Capital Funded Company CashKaro Launches Mobile Cashback App for Android Users
11. Freshworks Accelerates International Growth with Market Expansion in South Africa
12. Delhi based online business media platform Pixr8 News has raised Rs 25 lakh in Seed funding from an angel investor.
13. Users can now book an Ola using the PhonePe app. Payments platform PhonePe has announced a partnership with ride-sharing company Ola.
14. WhatsApp has finally launched its UPI feature for mass users and allowing transaction up to Rs 5,000 in a single transaction, reported Entrackr.
15. The Jharkhand Government is setting up a venture capital fund with a corpus of Rs 50 crore in order to facilitate support to young and innovative entrepreneurs in the state.
16. Omidyar Network, a global philanthropic investment firm which plans to invest $55-60 million a year in India for the next four years, has partnered with venture capital firm, Village Capital, to launch an accelerator program, Civic Tech India 2018 Accelerator to identify startups worth investing in.
