1947 Tech Newsletter 🇮🇳

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1947 Rise ☀️: 198

1947tech.substack.com

1947 Rise ☀️: 198

Delhivery IPO’d!

shiva singh sangwan
May 27, 2022
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1947 Rise ☀️: 198

1947tech.substack.com

1. Delhivery shares up 10% on debut

Delhivery Ltd surged 10% on its trading debut as investors piled into the shares of the SoftBank-backed logistics provider, shrugging off risks related to the Ukraine war, economic growth and interest rates.

Shares of Delhivery ended trading on Tuesday at ₹537.25 on BSE, valuing the company at ₹38,923 crore ($5 billion).

The buoyant stock market debut comes as a relief to startups preparing to go public, including PharmEasy, Ola, OYO, and Snapdeal.

Delhivery was founded in 2011 by Sahil Barua, Mohit Tandon, Bhavesh Manglani, Suraj Saharan, and Kapil Bharati as a hyperlocal express logistics services firm. It became a unicorn, or a startup valued at $1 billion or more, in 2019.

Delhivery shares up 10% on debut

2. Layoffs, shutdowns, funding crunch: The Great Indian Startup Party is over

Thousands of layoffs, Funding crunch, Disastrous tech IPOs and hammering in public markets, Delaying fundraiser, Cut the burn and Fewer Unicorns.

With that said, what a time to invest and or build in India. Tourist founders and investors would fade away. 

Time for real founders to build real businesses.

Excellent read.

Layoffs, shutdowns, funding crunch: The Great Indian Startup Party is over


Worth your attention:

  1. Purplle seeks $100 million from an internal raise at $800 million value Link

  2. Good Glamm plans $250 mn fundraise Link

  3. Country Delight raises $108 mn in Series D round led by Temasek, Venturi Partner Link

  4. Oyo said to shelve plans for IPO in 2022 Link

  5. Zetwerk BUILD launched to nurture, scale hardware startups Link

  6. Winter is here, must focus on profitability: Unacademy founder Munjal Link

  7. Three Wheels United Funding | Fintech firm Three Wheels United raises $10 million Link

  8. EV cab company BluSmart raises $25 million funding Link

  9. NFT music platform FanTiger raises $5.5 million Link

  10. Supply-chain financing provider Nakad raises $7 million funding Link

Thank you for reading. Please share any feedback, questions or comments with me on Twitter :)

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1947 Rise ☀️: 198

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