1947 Rise ☀️: 214

1. Molbio Diagnostics raises $85 mn from Temasek at unicorn valuation

Singapore-based investment firm Temasek has invested $85 million (around ₹680 crore) in Goa-based diagnostics chain, Molbio Diagnostics Pvt. Ltd. The company will be valued at $1.6 billion post the round, said a person aware of the development.

Molbio Diagnostics, known for its molecular diagnostic testing platform, will be the 108th unicorn after Tata 1mg made it to the list earlier this month.

The latest fundraising is a combination of primary and secondary market transactions with partial exits by angel investors.

According to a statement, Molbio will utilize the funds to expand its global network. Currently, the diagnostics chain operator has a presence in over 40 countries and it plans to further add 20–25 countries every year, Sriram Natarajan, chief executive officer and diagnostics director, Molbio said in an interaction with VCCircle.

Molbio Diagnostics raises $85 mn from Temasek at unicorn valuation

2. BigBasket looks to raise $200 million at up to $3.5 billion valuation

Online grocer BigBasket has begun the process for a new round of funding that is likely to value the Tata Digital-owned firm at around $3–3.5 billion, said three people briefed on the matter. BigBasket’s latest financing is likely to come from Tata Digital and existing shareholders. While the size of the round hasn’t been finalised, it’s likely to be in the range of $200 million or more, the people said.

Bengaluru-based BigBasket’s holding company Supermarket Grocery, of which Tata owns 62%, filed documents with the Registrar of Companies (RoC) recently about plans to increase the authorised share capital of the firm, typically an indication of a fresh cash infusion on the cards.

BigBasket looks to raise $200 million at up to $3.5 billion valuation

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Shiva Singh Sangwan @shivassangwan

@jdkanani is helping shape India's history in the web3 world. This is history in the making ✨ We covered: - JD's first angel investment - How does he evaluate founders - What is he obsessed about - Policies - Who is he outside of work & more ☀️ WATCH: bit.ly/3UxNkks

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Worth your attention:

Worth your attention:

1. SoftBank cuts valuation of IPO-bound Oyo to $2.7 billion | India Business News - Times of India Link

2. Saveo raises $4.5 million in funding at $50 million valuation Link

3. Kuku FM raises $21.8 million in funding led by Nandan Nilekani's Fundamentum Link

4. ETtech Deals Digest: Startups continue to reel under the funding winter Link

5. Farm-to-consumer startup Deep Rooted raises $12.5 million in funding led by IvyCap Link

6. Speech technology startup Murf AI raises $10 million in funding led by Matrix Partners Link

7. Gifting solutions company Join Ventures raises $23.5 million in funding Link

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