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India's Arzooo, once valued at $310M, sells in distressed deal | TechCrunch

November 21, 2024 8:52 AM0


Arzooo, an Indian startup founded by former Flipkart executives that sought to bring “best of e-commerce” to physical stores, has sold its assets in distressed sale to Moksha Group. The deal follows Arzooo engaging with several startups, including Bengaluru-headquartered Udaan, for potential merger opportunities, according to people familiar with the matter. Arzooo had raised approximately […]

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Software Development in Sri Lanka

Robotic Automations

India's HealthKart valued at $500 million in new investment | TechCrunch

November 18, 2024 2:34 PM0


Indian omni-channel nutrition startup HealthKart has raised $153 million in one of the country’s largest consumer startup transactions this year, valuing the business at about $500 million, according to a source familiar with the matter. The new investment was co-led by private equity firms ChrysCapital and Motilal Oswal, with Avendus Capital serving as financial advisor. […]

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Software Development in Sri Lanka

Robotic Automations

Swiggy market debut fuels India's food, quick commerce wars | TechCrunch

November 13, 2024 10:29 AM0


Shares of Swiggy dropped 4% to 401 rupees on Wednesday as the food delivery and quick commerce startup concluded India’s second-largest IPO this year, in a closely watched debut that puts it in direct comparison with what analysts have long considered the benchmark Indian internet stock: Zomato. The listing of the 10-year-old Bengaluru-headquartered firm marks […]

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Software Development in Sri Lanka

Robotic Automations

Swiggy's public debut will test India's appetite for $1B+ IPOs | TechCrunch

November 11, 2024 6:04 PM0


Swiggy’s upcoming IPO on Wednesday will finally give many analysts a public comparable for what has been long considered to be the Indian internet stock: Zomato. It will also test the nation’s appetite for IPOs that can scale past the $1 billion mark.  For its IPO, Swiggy has already secured $1.4 billion from institutional investors […]

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Software Development in Sri Lanka

Robotic Automations

India's central bank orders Sachin Bansal's Navi to halt loans | TechCrunch

October 25, 2024 7:26 AM0


India’s central bank ordered four non-bank lenders, including Navi Finserv and DMI Finance, to halt loans from October 21, citing excessive interest rates and regulatory breaches. The Reserve Bank of India said (PDF) the firms violated rules on pricing, income assessment, and asset classification. This action follows months of warnings about responsible lending practices, it […]

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Software Development in Sri Lanka

Robotic Automations

Accel eyes stake in India's Truemeds at $330M valuation | TechCrunch

October 25, 2024 12:03 AM0


According to half a dozen sources, Accel, the global venture firm, is in advanced discussions to lead a funding round of $30 million to $40 million in Truemeds, an Indian online pharmacy that’s focused on providing customers with more affordable generic alternatives to costly branded medications. The talks are currently centered on a proposed valuation […]

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Software Development in Sri Lanka

Robotic Automations

India's Paytm wins approval to resume payments growth | TechCrunch

October 23, 2024 9:19 AM0


Paytm, a leading Indian financial services firm, has received regulatory approval to resume adding new UPI payments users, following an eight-month restriction on many of its operations. UPI, which processes over 15 billion monthly transactions, dominates India’s online payments. Walmart-owned PhonePe and Google Pay process about 87% of UPI transactions, whereas Paytm’s market share has […]

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Software Development in Sri Lanka

Robotic Automations

India's richest man launches $13 4G phones to win 2G customers | TechCrunch

October 23, 2024 12:26 AM0


Reliance’s digital arm, Jio Platforms, has launched two new 4G-enabled handsets that offer access to live TV, music, and video streaming, as well as host the ability to make digital payments, all for a price tag of 1099 rupees ($13), as India’s richest man Mukesh Ambani pushes to woo the hundreds of millions of people […]

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Software Development in Sri Lanka

Robotic Automations

India's Zomato to raise $1B ahead of rival Swiggy IPO | TechCrunch

October 22, 2024 3:53 PM0


Zomato said on Tuesday its board had approved the company’s proposal to raise $1 billion through a so-called qualified institutions placement, its first major fundraise since its IPO in 2021 as quick commerce battle intensifies in India. The deliberations for the funding comes weeks before Swiggy, Zomato’s chief rival, makes its public debut. The Bengaluru-headquartered […]

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Software Development in Sri Lanka

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