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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.
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.
Worth your attention:
Worth your attention:
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