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1. Freshworks plans $912 mn IPO at nearly $9 bn valuation
Freshworks Inc. aims to raise nearly $1 billion through a public listing in the US at a valuation of almost $9 billion, which will make it the most valuable software-as-a-service (SaaS) startup from India.
Freshworks will seek a valuation of almost $9 billion at the upper end of the price band, the filing showed. This will make Freshworks the most valuable SaaS startup from India, post-listing, zooming past the likes of application program interface (API) development platform, Postman, which was recently valued at $5.6 billion and mobile application testing platform, BrowserStack valued at $4 billion this year.
Freshworks was last valued at $3.5 billion in November 2019.
Freshworks has raised more than $327 million in funding so far from Accel, CapitalG, Sequoia India, and Tiger Global Management. It has more than 52,500 customers across 120 countries.
2. Pre-IPO bout to value PharmEasy at $6Â billion
PharmEasy is finalising a $200-million primary funding round ahead of its initial public offer (IPO) and is in talks with marquee investors from the US and South East Asia, such as Blackstone, BlackRock, Amansa Capital, Janchor Partners and OrbiMed, multiple people in the know told ET.
Simultaneously, the country’s largest e-pharmacy is also stitching up a secondary transaction of up to $100 million, buoyed by high interest from pre-IPO investors looking to come on board.
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