XPRESSBEES VALUATION
Darwinbox secures $40 million funding from Canada's OTPP
Darwinbox secured $40 million from Teachers’ Venture Growth after a $140 million round in March, valuing the HR solutions provider at $1 billion in 2022. The investment includes secondary transactions, offering early investors like Peak XV Partners a tenfold return. Darwinbox, serving over 1,000 enterprises globally, reported a 58% revenue increase and targets further growth, expanding into US markets.
Ecom Express secures board nod for Rs 2,600 crore IPO
According to the company's internal documents accessed from the Registrar of Companies, Ecom Express is considering a fresh issue of up to Rs 1,284.5 crore and an offer for sale component of up to Rs 1,315.5 crore.
Shadowfax’s Rs 3,000-crore IPO; Ola Electric shares rally
Joining its new-age peers, ecommerce logistics company Shadowfax is planning to go public. Details on this and more in today’s ETtech Top 5.
After robust IPO response, Unicommerce GMP signals a bumper listing on Tuesday
The company set the IPO offer price between Rs 102 and Rs 108 per share, with allotment based on the upper range. While the grey market premium is strong, it's crucial to remember that GMPs are merely indicators of how the company's shares are valued in the unlisted market and can fluctuate quickly.
Logistics company Shadowfax eyes Rs 3,000 crore IPO
Shadowfax Technologies, supported by Flipkart, prepared for an IPO aiming to raise Rs2,500-3,000 crore, seeking a valuation of Rs5,000-8,000 crore. In February, it raised $50 million in a Series E round. For FY23, it reported revenues of Rs1,415 crore and reduced its losses to Rs143 crore, competing with Delhivery and Ecom Express.
Unicommerce Esolutions IPO opens for subscription. Should you bid?
IPO GMP, Subscription and Price Details: Unicommerce Esolutions opened its IPO for subscription, presenting an OFS of up to 2.56 crore shares with a price band of Rs 102-108 per share. Analysts recommend this high-priced offering primarily for aggressive investors seeking listing gains. Notably, the company will not receive any proceeds from this IPO as it is entirely an offer for sale.
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Venture firm Promaft Partners announces inaugural Rs 1,000 crore fund
Venture capital firm Promaft Partners is raising its first fund of Rs 1,000 crore, with a greenshoe option of Rs 200 crore. Promaft has been launched by Alibaba Group’s former investment head Raghav Bahl and former 9Unicorns partner Soham Avlani.
ETtech Deals Digest: Funding crunch continues, investments down 40% in November to $409 million
New-age tech companies raised a total of $409 million in November across 63 rounds, according to data from market research firm Tracxn. Overall funding for the month was down 40% in terms of value compared to a year earlier, when startups raked in $682 million from 136 rounds.
Mamaearth parent's muted market debut, early investors clock gains; Xpressbees bags $80 million
Honasa Consumer had a rather flat debut on the stock markets today, opening at a 2% premium to its issue price. This and more in today’s ETtech Top 5.
Snap’s Evan Spiegel on growing beyond 200 million users in India; Banks woo fintechs to push gold loans
Snap CEO Evan Spiegel elaborated on his plans for India, his vision for artificial intelligence (AI) and augmented reality (AR) in the days ahead, and much else, in a free-wheeling talk with ET. This and more in today’s ETtech Morning Dispatch.
Ontario Teachers venture arm invests $80 million in Xpressbees
Investment a mix of primary and secondary share sales; logistics company to conduct Esop buyback.
Ranjan Pai in talks for stake in FirstCry; IT hardware firms may get more time for local manufacturing
Manipal Group chairman Ranjan Pai is likely to pick up a stake in FirstCry, as part of a secondary share sale. Pai’s Rs 250 crore investment could come at a valuation of about $3 billion for the Pune-based ecommerce firm looking to file its draft IPO papers before the end of this year. All this and more in today’s Morning Dispatch.
Ontario Teachers' fund weighs $100 million investment in ecommerce logistics startup Xpressbees
The Canadian pension investor may buy a stake in the firm at about a $1.4 billion valuation.
PE fund ChrysCapital invests $100 million in eyewear retailer Lenskart
In March, Abu Dhabi Investment Authority (ADIA), the Gulf Sovereign wealth fund (SWF), had invested $500 million in the company.
ETtech Deals Digest: Startup funding plummets 90% in April versus last year
Here are the biggest startup fundraises for April.
Shiprocket turns unicorn with $32 million funding
This takes its valuation to around $1.3 billion, making it the latest entrant to the unicorn club this year. Startups valued at $1 billion or more are termed unicorns.
Ecommerce logistics firms Delhivery, Ecom Express, Xpressbees give aggregators a price shock
Country’s three largest ecommerce-focused delivery firms hike rates for aggregators by 35-40%.
FirstCry appoints bankers, eyes IPO in 2022
FirstCry cofounder and CEO Supam Maheshwari declined to comment while emails sent to Kotak Mahindra Capital and Morgan Stanely are yet to elicit a response.
Logistics firm Xpressbees raises $300 million in funding from PE funds Blackstone, TPG, ChrysCapital at $1.1 billion valuation
“We will use the capital for financing technological advancement, increasing automation and to grow geographical presence. We will also look at inorganic growth opportunities,” Amitava Saha, CEO, Xpressbees said.
Oyo may downsize IPO; exclusive chat with Nykaa CEO
Oyo plans to reduce the size of its IPO to less than $1 billion, given the prevailing market conditions. In conversation with Nykaa CEO Falguni Nayar after her company’s Q3 results.
Ashneer Grover vs Sequoia; Xpressbees could be next unicorn
BharatPe cofounder Ashneer Grover could face increased scrutiny as expletive-laden emails he allegedly sent to an employee of Sequoia Capital India in 2020 have surfaced.
Xpressbees headed to unicorn club, in talks for $300 million
Xpressbees will raise $100 million by offering fresh shares, where the proceeds will go into the company’s coffers, the people said. Some of its early backers are selling part of their stake to raise the remaining $200 million.
Fidelity, GIC invest in Delhivery's $277 million fundraise, valuation jumps to $3 billion
Scotland's Ballie Gifford and Abu-Dhabi investor also join new round ahead of IPO
ETtech IPO Watch: A decade of Delhivery
Delhivery is currently in talks with marquee global investors to raise a pre-IPO round at a valuation of around $3 billion
Delhivery aims for pre-IPO funding at $3 billion valuation
This indicates an almost 50% higher valuation for the SoftBank-backed Delhivery in about three months, if a deal is concluded.
FirstCry in talks to raise up to $200 million at nearly $2 billion valuation
FirstCry, which is in funding talks with TPG Growth, Premji Invest and ChrysCapital, aims to go for listing in 24-36 months and wants to realign its capitalisation table before that.
Exclusive: FirstCry's early investors look to sell stake at $2.1 billion valuation
The valuation being ascribed to BrainBees Solutions (FirstCry) is almost double of its previous funding round in 2019.
SoftBank fulfils its $350 million promise made to Delhivery
The latest round values Delhivery at a little over $1.6 billion, according to paper.vc, highlighting a significant jump in valuation of the eight-year-old company.
BigBasket receives $200 million in a round led by Alibaba
As per the company filings, Alibaba owns 14,60,000 shares of the Bengaluru-based company which is registered as Supermarket Grocery Supplies.
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