Online grocery delivery platform BigBasket is looking to raise $250 Mn to $300 Mn from both new and existing investors at a valuation of $1.5 Bn-$2 Bn, the company’s co-founder Hari Menon confirmed. The company reportedly wants to keep its inventory ready with capital and wider investor base to fight the Reliance Industries-Facebook combine.
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Zuari Ago sells fertilizer plant to Paradeep Phosphates
Zuari Agro Chemicals Ltd, which is part of the Saroj Poddar-led Adventz Group, has announced the sale of its fertilizer plant in Goa to Paradeep Phosphates Ltd (PPL), which is a joint venture between the company and Morocco’s OCP Group.
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Startup News Snippets
M&A News
Market Pulse
- Delhi-based grocery delivery startup Milkbasket has raised $5.5 Mn from Inflection Point Ventures and existing investors
- Mumbai-based infrastructure technology company Infra. Market has raised $5 Mn in an equity and debt mix round of funding from Trifecta Capital
- Mumbai-based nutrition startup OZiva has raised $5 Mn in a Series A funding from Matrix Partners India
- Bengaluru-based last-mile micro-mobility platform Yulu has raised $4 Mn from US-based VC firm Rocketship and existing investors
- Singapore-based Horizon Quantum Computing has raised $3 Mn from Sequoia Capital India.
- Bengaluru-based Treebo has raised $3 Mn in a growth funding round from Bertelsmann’s India investment unit, Matrix Partners India, and SAIF Partners.