Ahead Of IPL, Flipkart’s PhonePe Receives $107.6 Mn Cash Infusion
Flipkart owned online payment company PhonePe has raised $107.6 Mn from its Singapore-based parent entity PhonePe Pvt Ltd, formerly known as Flipkart Payments.
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Xiaomi Bets Big On India Play With Latest Infusion Of $507 Mn
This week one of the biggest fundings came to Chinese smartphone maker Xiaomi’s India unit which raised $507 Mn from its Singapore parent company. The company will reportedly utilize the funds to enter the white goods sector as well as to expand its company-owned Mi Home retail stores to sustain the leadership in the Indian smartphone market. Read More
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Editor’s Weekly Pick
It is common to read about the questionable nexus between business, politics and banking in India. But, beyond homeland, here is a fascinating read about how the world’s most powerful man kept raising funds from one of world’s biggest banks despite many disputes and bankruptcies. This will surely make it to Hollywood one day 🙂
–Abhishek
Market Pulse
- Gujarat University Startup and Entrepreneurship Council hosted her START programme where 35 ideas were selected for pre-incubation support.
- US-based Airbnb is in discussions to invest in Indian hotel management startup OYO. If completed, the investment would likely be in the $100 Mn to $200 Mn range.
- The global social media giant Facebook is in early talks with several content startups, including PopXo for potential investments.
- Beauty e-tailer Nykaa acquired women styling platform 20Dresses.com for an undisclosed amount to expand its fashion business.
- Bengaluru based edtech unicorn BYJU’S raised $25 Mn from General Atlantic in Series G funding round and $6 Mn from Tencent in its Series F funding round.
- California and Bengaluru-based AI assistance provider to small businesses, FrontdeskAI raised $2 Mn pre-Series A funding round from pi Ventures.
- Mobile-based online fantasy gaming platform HalaPlay raised $5.8 Mn in Series A funding led by Nazara Technologies and Delta Corp.