Fundraise

Pocket FM, an online audio streaming platform, is close to finalising a new fundraise which will likely catapult it into the unicorn club of privately held tech companies valued at $1 billion or more, according to people close the matter.The audio entertainment startup is in talks with the Abu Dhabi Investment Authority (ADIA) for its latest funding which is expected to value it around $1.2 billion, the people said. The latest funding talks come on the back of the Bengaluru-based company announcing on Wednesday that it…

A fund managed by US-based asset manager Baron Capital Group has marked up the fair value of food-delivery platform Swiggy to $12.1 billion, 13% higher than the $10.7 billion valuation at which the Bengaluru-based firm last raised funds in 2022.Baron Capital, which participated in the $700 million funding round in January 2022, has raised the fair value of its holding in Swiggy for the third time. The latest valuation was ascribed to Swiggy as of December 31, 2023, as per US Securities and Exchange Commission filings.…

Myntra received a $54 million fund infusion from parent Flipkart, at a time when the online fashion platform is witnessing intense competition from Reliance’s Ajio and Tata Cliq.According to regulatory filings made in Singapore, Myntra’s holding company, FK Myntra Holdings Pvt Ltd, received the fund in January, making it the second investment from Flipkart in a year. Flipkart had infused $105 million into Myntra in March 2023.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIndian School…

Hyperlocal logistics startup Shadowfax has raised $100 million in a mix of primary and secondary investments as part of its latest funding round led by growth investor TPG NewQuest. Existing investors including Mirae Asset Management, Flipkart, International Finance Corporation, Nokia Growth Partners, Qualcomm, and Trifecta Capital also participated in the fundraise. The round also includes an element of venture debt.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIIM LucknowIIML…

It’s Valentine’s Day and love money is on Donald Trump’s mind.  The former president penned a “love letter” to his Valentine, his wife and former First Lady Melania Trump … in the form of a fundraising email to prospective donors.  “Dear Melania, I LOVE YOU!” it read. Even after every single INDICTMENT, ARREST, and WITCH HUNT, you never left my side. You’ve always supported me through everything. I wouldn’t be the man I am today without your guidance, kindness, and warmth. You will always mean the world to…

After the generative artificial intelligence (AI) space, OpenAI CEO Sam Altman is reportedly setting his sights on a new frontier: the semiconductor industry. According to a Wall Street Journal report published on Thursday, Altman is engaged in conversations with investors, including those from the United Arab Emirates, to secure trillions in funding aimed at bolstering global production of chips specifically designed for AI technology.This initiative could require raising as much as $5 trillion to $7 trillion, as per the…

Welcome to this year's final edition of ETtech Morning Dispatch. Thank you so much for reading us every AM. We have a packed edition today as we call it a wrap on 2023!Also in this letter:■ Activists call for withdrawal of telecom bill■ UPI AutoPay gains momentum■ BSNL suffers data breachProgramming note: ETtech’s newsletter team will be off starting December 23. We will be back with a brand new edition of the newsletter on January 2, 2024. Wishing you all a Merry Christmas and a Happy New Year. Stay tuned to ETtech.com…

Cloud kitchen-focused startup Kitchens@ on Friday said it has raised $65 million (about Rs 540.3 crore) in a funding round led by London-based private equity firm Finnest. The Bengaluru-based firm did not disclose the valuation at which the funding took place, but the entire amount came in primary funding, its chief executive Junaiz Kizhakkayil told ET.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIIM LucknowIIML Executive Programme in FinTech, Banking & Applied Risk…

Ecommerce major Flipkart is in the middle of closing a $1 billion funding round. This and more in today’s ETtech Top 5.Also in this letter:■ GreyOrange, BluSmart raise funds■ Plum's FY23 financials■ GenAI smartphonesWalmart to pump $600 million in Flipkart Kalyan Krishnamurthy, CEO, Flipkart GroupUS retail major Walmart has committed to infusing $600 million in Flipkart, as part of the ecommerce firm’s $1-billion fundraise, people aware of the matter told us. Valuation math: The Indian ecommerce company’s latest…

Business-to-business (B2B) ecommerce firm Udaan has raised $340 million through conversion of its debt and fresh equity infusion. This and more in today’s ETtech Top 5. Also in this letter:■ ETtech Done Deals■ Wipro Consumer Care enters D2C space with Bio-essence■ Influencers lawyer up to help protect personal brandsUdaan raises $340 million in funding led by UK’s M&G Prudential Vaibhav Gupta, CEO, UdaanBusiness-to-business (B2B) ecommerce startup Udaan on Thursday said it has raised…