The allocation will be distributed via a structured application process, requiring a detailed business plan, financial projections, and a utilisation outline
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Fresh funds will be used for developing technology for user analytics and sports shopping, expanding the sports shop vertical, and building the Machaxi brand
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Gurumurthy, who left Swiggy in late 2023 to pursue entrepreneurship, has returned the capital raised from investors as he shifts focus to a new startup that remains undisclosed
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Since 2019, Singapore-based Keppel has been a prominent and longstanding investor in Smartworks having invested USD 29 million in the company to date
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Zepto currently has over 50,000 delivery partners, adding about 5,000 new partners each month. The company plans to expand its dark store network from 350 stores in 10 cities to 700 by March 2025
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GlobalData's Deals Database analysis shows that from January to May 2023, India saw 475 VC deals with a disclosed funding value of USD 3.4 billion
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As per media reports, JioMart aims to narrow its delivery time to 30 minutes, starting with the top eight metros and expanding to the top 20-30 cities
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The company's rapid expansion led to a cash shortage and a decline in valuation, resulting in multiple lawsuits in India and the US
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This launch comes 18 months after Flipkart and PhonePe, India’s leading UPI app with nearly 50% market share, parted ways. Reports suggest that Flipkart is in discussions to raise USD 20 million for Super.Money.
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