In the first four months of 2021, eleven Indian startups have attained unicorn status, meaning they've reached a valuation of at least $1 billion, according to data platform Tracxn. Five startups hit that milestone in April alone. By comparison, there were 13 in all of 2020, and 10 in 2019....
Sequoia Capital Raises $1.35 Billion For India and SE Asia
Sequoia Capital announced that it has received commitments of $1.35 billion for new investments in India and southeast Asia.. According to Shailendra Singh, Managing Director, Sequoia India, the three Sequoia India funds will continue to invest across India and Southeast Asia (SEA). They will be used to double down on...
India is Home to 27 Unicorn Startups
Today, India is the third largest startup ecosystem in the world with the number of startups at 7,500 in 2018, a growth or 15 percent from 2017, with at least 27 of India's startups gaining unicorn status since 2014 -- most of them in 2018 or 2019,according to trade body...
Amazon to Enter Online Food Delivery Business in India
Seattle, Washington-based Amazon Inc., will launch a new service delivering from restaurants ahead of India’s month-long festive season, which starts in September. The company has teamed up with Bangalore-based Catamaran Ventures, founded by IT billionaire Narayana Murthy. Research firm RedSeer Consulting says that India's rising middle class has driven the growth...
Wendy’s India to Feature Table Service
The Times of India reports that the world’s third largest burger chain, Wendy’s, will open its first restaurant in the northern state of Gurgaon. Prices of burgers will start from around $1.40. Plans are in progress to open 50 stores in the next four years. “Our key differentiators will be...
India’s Zomato Acquires Seattle-Based Urbanspoon.com
India’s online restaurant listing company Zomato entered the U.S Market through the acquisition of Urbanspoon.com owned by IAC the Internet company focused on the areas of search, applications, online dating, media and ecommerce. The deal was an all-cash transaction for $52 million. Most of Urbanspoon’s team will be joining Zomato and...