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Indian startups raised $9.3 billion in 2020

The coronavirus pandemic — and a handful of other factors — slowed dealmaking for startups in India this year. Compared to their record $14.5 billion fundraise last year, Indian startups are ending 2020 with about $9.3 billion. This is the first time since 2016 that startups in India, one of […]

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Indian food delivery giant Zomato secures $660 million

Zomato has raised $660 million in a financing round that it kicked off last year as the Indian food delivery startup prepares to go public next year. The Indian startup said Tiger Global, Kora, Luxor, Fidelity (FMR), D1 Capital, Baillie Gifford, Mirae, and Steadview participated in the round — a […]

The Station: Yandex spins out self-driving biz, Ike takes the SaaS road and a solid-state battery startup strikes SPAC

The Station is a weekly newsletter dedicated to all things transportation. Sign up here — just click The Station — to receive it every weekend in your inbox. Hello and welcome back to The Station, a newsletter dedicated to all the present and future ways people and packages move from Point […]

Indian startups diversify their businesses to offset COVID-19 induced losses

E-commerce giant Flipkart is planning to launch a hyperlocal service that would enable customers to buy items from local stores and have those delivered to them in an hour and a half or less. Yatra, an online travel and hotel ticketing service, is exploring a new business line altogether: Supplying […]

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Uber appoints Pradeep Parameswaran as new head of its Asia Pacific business

Uber has appointed Pradeep Parameswaran, who oversaw the ride-hailing giant’s business in India and South Asia for two years, as the regional general manager of its Asia Pacific region operations. Parameswaran, who starts his new role next week, will be tasked to improve Uber’s presence in the nine nations in […]

JioMart, the e-commerce venture from India’s richest man, launches in additional cities

The rationale behind the deluge of dollars flooding into billionaire Mukesh Ambani’s Reliance Jio Platforms is beginning to become more clear as his e-commerce venture JioMart starts rolling out to more people across India. An e-commerce venture between the nation’s top telecom operator Jio Platforms and top retail chain Jio […]

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Indian food delivery startup Swiggy is cutting about 1,000 jobs

Swiggy is cutting about 1,000 jobs, most from its cloud kitchen division, as India’s top food delivery startup scales back some of its businesses in response to the coronavirus pandemic that has drastically affected millions of firms. In a statement, the Bangalore-based startup said it was “evaluating various means to […]

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To avoid hostile takeovers amid COVID-19, India mandates approvals on Chinese investments

Chinese investors, who have poured about $6 billion into Indian startups in the last two years, will be subjected to tougher scrutiny for their future investments in the world’s second largest internet market. India amended its foreign direct investment policy on Saturday to require all neighboring nations with which it […]

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Uber withdraws 2020 guidance

Uber is walking back its annual guidance for 2020 due to the COVID-19 pandemic. Update: This article was corrected to reflect that the guidance was for 2020, not an update that would include the fourth quarter adjusted EBITDA profitability target. Uber CEO Dara Khosrowshahi said earlier this year that the […]

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Startups, VCs in India request ‘relief package’ from the government to fight coronavirus disruption

More than six dozen startup founders, venture capitalists and lobby groups in India have requested the government to grant them a “robust relief package” to help combat severe disruptions their businesses face due to the coronavirus outbreak. In a joint letter to India’s Prime Minister Narendra Modi, startups requested the […]