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Grofers, Zomato and the big online grocery battle Want this newsletter delievered to your inbox? SUBSCRIBE Thank you for subscribing to Morning Dispatch We ll soon meet in your inbox. / Morning Dispatch Grofers is the latest beneficiary of the boom in online grocery deliveries. The company is set to become the latest Indian startup unicorn after raising $120 million from Zomato and Also in this letter: HC to hear Twitter India MD’s petition next week Sequoia picks 13 Indian startups to accelerate E-grocery sweepstake E-grocer Grofers has signed a deal with Zomato and Tiger Global to raise $120 million, sources have told us. We were the first to report on May 7 that Zomato was in talks to invest $100 million in Grofers at a $1-billion valuation. ....
#FundingAlert: AI startup Detect Technologies raises $12 million from Accel, others freepressjournal.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from freepressjournal.in Daily Mail and Mail on Sunday newspapers.
Stride Ventures leads ₹10-crore debt round in Sequoia-backed Progcap February 09, 2021 Stride Ventures has led a debt round of ₹10 crore in Progcap, a growing fintech player providing access to fast and flexible collateral-free working capital to retailers. Founded in 2017 by Pallavi Shrivastava and Himanshu Chandra, Progcap provides access to fast and flexible collateral-free working capital to retailers in Tier-II, III, and IV areas, where retailers typically face challenges in accessing capital for their businesses. Through its Last Mile Retailer Finance (LMRF) facility, the fintech company which has over two lakh retailers on its platform, provides the underbanked, semi-urban and rural retailers in India access to flexible, collateral-free working capital and has scaled up over 5x post Covid-19 with best-in-class asset quality. The company will also look to strengthen its ties with banks and corporates by leveraging Stride’s network. ....
Synopsis Getty Images Progcap provides access to collateral-free working capital to retailers in Tier-II, III, and IV areas, where retailers face challenges in accessing capital for their businesses. Stride Ventures has led a debt round of Rs 10 crore in Progcap – a fintech player providing access to collateral-free working capital to retailers. The fund is committed to being a strategic partner in Progcap’s growth journey. This is Stride Ventures’ fourteenth investment from its maiden fund and second investment in the fintech space. Progcap has over two lakh retailers on its platform. These funds will be deployed to increase their AUM and penetration amongst retailers across the country. Progcap will look to strengthen its ties with banks and corporates by leveraging Stride’s network. ....