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1947 Tech 🇮🇳: 169
Large rounds and IPOs!
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 $6 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.
Worth your attention:
BoAt plans IPO, looks at a valuation of nearly $1.4 bn Link
Exclusive: Cars24 raises $259 Mn at around $1.75 Bn valuation Link
Exclusive: Shiprocket eyes $200 million from Temasek and others Link
Byju’s in talks to acquire US coding company Tynker Link
Jungle Ventures raises $225 million to invest in India, Southeast Asia startupsLink
Financial services startup WeRize raises $8 million in Series A funding Link
HomeLane raises $50 million from IIFL AMC fund, others Link
Exclusive: Temasek, Google and others invest $62 Mn in Open Bank Link
Exclusive: IPO-bound Pine Labs converts to a public company Link
Ola Electric aims to build world’s largest women-only factory: 10 things to know Link