1947 Rise ☀️: 345
Zepto, Ather, Fintech & UPI
1. Zepto becomes India’s first 2023 unicorn with $200 million fresh funding | TechCrunch
Instant grocery delivery startup Zepto has raised $200 million in a new funding round at a valuation of $1.4 billion, it said Friday, at a time when most other firms in the category have either died or are struggling. The funding makes Zepto the first Indian startup to attain the unicorn status this year.
StepStone Group, an influential LP in many venture funds including Nexus Venture Partners, led Zepto’s Series E funding in what is the U.S. firm’s first direct investment in India. Goodwater Capital and existing backers, including Nexus, Glade Brook Capital and Lachy Groom, also participated in the round.
2. Hero MotoCorp to increase stake in Ather with fresh $66.5 million investment | TechCrunch
Hero MotoCorp, the world’s top two-wheeler maker, said on Monday it plans to invest up to $66.5 million in Ather Energy, a promising electric vehicle startup in India whose fast-growing fortune had to hit brake after a local policy change.
Hero MotoCorp, which already owns a 33.1% stake in the Bengaluru-headquartered Ather Energy, disclosed (PDF) in a stock exchange filing that its board of directors had approved a fresh investment of up to $66.5 million in the rights issue of Ather Energy.
Prior to the new investment, Ather Energy has raised $336 million over the years from investors including Tiger Global, Flipkart founders Sachin Bansal and Binny Bansal, and India’s quasi-sovereign fund NIIF, according to Tracxn. It was valued at $739 million in a round last year.
Worth your attention:
UPI transactions for August crosses 10-billion mark for the first time Link
Value of fintech-led businesses to rise to $400 billion by 2030: report Link
Walmart pays $3.5 billion to increase stake in India’s Flipkart | TechCrunch Link
B2B SaaS investor Pentathlon Ventures launches $54.4 million Fund II Link
Atomicwork raises $11 million in seed round led by Matrix Partners and Blume Ventures Link
MediBuddy raises $18 million in funding from existing investors Link
B2B seafood company Captain Fresh raises $20 million from SBI Investment, others Link