1947 Tech 🇮🇳: 159

Zomato-Grofers, Largest Seed Round, Pharmeasy, and more!

1. Done Deal! IPO-bound Zomato Invests $120 Million in Grofers

IPO-bound food delivery platform Zomato has signed off on its long-held plan to invest in online grocery startup Grofers, according to sources privy to the development. The deal comes at a time when more consumers are buying groceries online, owing to the COVID-19 pandemic.

Sources told Moneycontrol that the deal has officially been signed on June 29 2021, as part of which Zomato will invest around $120 million in the grocery startup at a valuation of over one billion dollars. With this investment, Grofers will turn a unicorn

Albinder & Zomato founder and CEO Deepinder Goyal also go back a long way. Both of them studied at IIT-Delhi between the years 2000–2005. He also headed Zomato’s international operations for two years before starting up Grofers

Done Deal! IPO-bound Zomato Invests $120 Million in Grofers

2. PharmEasy gets $300 million booster shot for Thyrocare deal

PharmEasy has raised $300 million more, led by its existing investors, bringing the total funding received by the online pharmacy since April to $650 million, most of which will be used to fund its ongoing acquisition of diagnostic chain Thyrocare

API Holdings was founded by Dharmil Sheth, Dhaval Shah, Harsh Parekh, Hardik Dedhia and Shah in 2015.

Shah, who leads new initiatives at the company, said US investment firm Tiger Global has already backed PharmEasy, as reported by ET, and is in further talks to pump more capital into the startup, which is now valued at $4 billion.

ETtech Exclusive: PharmEasy gets $300 million booster shot for Thyrocare deal

Podcast 🎙

Mukund Kulashekaran is currently the SVP at Urban Company (valued at $2.1b). Previously he was the CBO at Zomato, which is looking to go public soon and is currently valued at $5.4b.

You can click here to listen

Shiva Singh Sangwan @shivassangwan

1947 Rise: 002 Went into a casual meeting on a Friday evening, with no intention of joining Zomato. Guess what? Walked out with an offer. Deepinder (@deepigoyal) is a great storyteller and Mukund (@mukund1981) realized the potential of Zomato.

anchor.fm2: Mukund Kulashekaran (Urban Company) by 1947 Rise • A podcast on AnchorMukund Kulashekaran is currently the SVP at Urban Company (valued at $2.1b). Previously he was the CBO at Zomato, which is looking to go public soon and is currently valued at $5.4b. SHOW NOTES Journey from growing up in India to moving to the US and then moving back to India (1:00) His thought p…

Worth your attention:

1. Mobikwik raises $20 million from ADIA at over $700 million valuation Link

2. Acko in talks to raise $200 million, may become India’s next unicorn Link

3. Classplus announces $65 Mn Series C round led by Tiger Global Link

4. Thrasio-style venture 10club raises $40Mn in one of the largest seed rounds Link

5. GoMechanic raises $42 million led by Tiger Global Link

6. LocoNav raises $37 million in funding from Sequoia India, others Link

7. 9Unicorns announced fourth close of Fund I at $50 million Link

8. Orios Venture Partners closes $30M Select Fund I as Pharmeasy announces plans for IPO Link

9. Indian online learning giant Unacademy in talks to acquire Rheo TV Link

10. Slice raises $20 million to go after the credit card industry in India Link

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