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After a $370 million investment round headed by Tiger Global, India s BharatPe is valued at over $2 billion
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Tech unicorns ride digital wave to race ahead in India
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Zomato said to lead $470m investment in grocery delivery unicorn Grofers
Visual from www.groupon.co.in
July 27, 2021
Zomato Ltd is set to double down on the online grocery market. The food delivery platform, which went public last week, will lead a ₹3,500 crore ($470 million) investment in Grofers, which turned unicorn recently, two people directly aware of the development said.
Several global investors will join Zomato in investing in Grofers, the people said, requesting anonymity. Zomato invested $100 million in Grofers about a month ago for a 9.3% stake, valuing the online grocer at more than $1 billion.
“There are new private equity investors who are banking on the growth story of the online grocery delivery business. Alongside, Zomato is keen to strengthen its network in the grocery delivery space for which Grofers can play a vital role,” one of the two people said.
Synopsis
According to cofounders Hari Menon and Vipul Parekh, fresh initiatives and changes under the new owner would play out over the next few months at BigBasket, as Tata Group gets ready to launch its much-anticipated super app.
BB Daily, BigBasket s subscription-based morning essentials delivery business, is on the path to becoming “the most profitable” business for the company, cofounder Hari Menon says.
Bengaluru | Mumbai:BigBasket will launch express deliveries, a segment the online grocery platform has previously experimented with but pulled back from, cofounders Hari Menon and Vipul Parekh said.
Over the next two-three months BigBasket, where Tata Digitalacquired a majority stake recently, plans to introduce the quick-delivery service, a category which is hotting up with well-capitalised companies like
Infosys has a new headache — India s unicorn boom | Business Insider India
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