Awfis, a one stop place that provides shared workplace raised $ 20 million from Sequoia India, only to fund its expansion plans.
This organization will use the funds to expand its existing platform to launch new products and services.
CEO and Founder of Awfis, Amit Ramani said: “We have seen a huge demand in the market for coworking spaces and have created a shared economy platform that leverages technology. Awfis is transforming underutilized real estate assets and providing an affordable and exciting new age work environment for today’s entrepreneur. We believe that this will facilitate a change in preference of the conventional office user from traditional offices to new age coworking spaces.”
Awfis plans to extend its services to more than 100 centers with over 35,000 seats across Mumbai, Bengaluru, Hyderabad, Chennai, Kolkatta and Pune. Started in 2015, the company has over 7,500 seats across 21 centers in 8 Indian cities.
Other coworking startups which raised funds from investors include The Office Pass which raised Rs. 1.5 crore from a group of individual investors led by Arun Tadanki, former MD of Yahoo Southeast Asia and India.
Fresh funding led by Awfis will aggressively expand with more hubs in more locations.
Facebook Invests In Indian Startup Meesho
On the 13th of June, social media giant Facebook announced, it invested an undisclosed amount in Indian startup Meesho.
A Bengaluru based startup, Meesho works with resellers and emerging brands using social media. This is the first time Facebook invested in a startup based in India. Through this investment, Facebook aims to increase its commitment to the Country’s vibrant internet ecosystem.
“Facebook is an ally for India’s economic growth and social development. We are excited about India and its rapidly rising Internet ecosystem. With this investment in Meesho, we want to fuel a business model that can result in rapid job creation and the rise of a female entrepreneurial class in India,” Ajit Mohan, the Managing Director of Facebook India, said in a statement.
It was two primary factors which made Facebook invest in Meesho. The first reason was how the startup is growing outside the Tier II and III cities, where new users are present. The second reason is, Meesho has a larger user base, 80 % of which are women.
So far, Meesho has raised $ 50 million from a Series C funding round in November last year. According to industry reports, the startup helps people using its service earn close to Rs. 25,000 every month! With WhatsApp playing a crucial role in the app’s growth, it comes as an added blessing that Facebook invested in this particular startup.
Through investments like these, Facebook is capitalizing on the social media boom happening in India.
Stay tuned for more updates.
Dunzo Launches B2B Logistics Services For Small Businesses
Dunzo, India’s extremely popular hyperlocal delivery service, launched a new business to business (B2B) service called Checkout With Dunzo, which is aimed at small businesses and services.
With Checkout With Dunzo, the delivery service aims at helping more companies connect with buyers through their app. To activate this service, the bare minimum required for businesses is to have an online presence either through their website or mobile app. A platform for businesses to connect with and get on board with Dunzo, this service helps in improving delivery while reducing the trouble associated with payments.
“At Dunzo, we’re constantly looking to improve the Merchant’s, Partner’s, and User’s experience. ‘Checkout with Dunzo’ is a considerable step in that direction – enabling faster deliveries for users, building a more efficient and democratic omni channel business for merchants and creating more flexible earning opportunities for partners,” says Kabeer Biswas, CEO & Co Founder, Dunzo.
For retailers ranging from countrywide chains to local stores, this new service gives the partners an opportunity to stay on par with the e commerce trends, save time and make sure a dedicated delivery service is established.
With the help of the technology by Dunzo, this new checkout service is piloted by the confectionary chain, CakeZone (Bangalore.) In the last 18 months, the delivery app grew by 30 times and by June 2019, it is expected to have 2 million orders per month.
Till date, the Company raised close to $ 30.3 million in funding, with money flowing in from Google, Deep Kalra and Blume Ventures.
Stay tuned for more updates.
Swiggy Raises $ 1 Billion In Funding Round
Early Thursday, Swiggy raised $ 1 billion in a funding round led by Naspers and post the valuation, the food delivery service is all set to take on multinational players in the industry like Zomato and FoodPanda. While announcing this news, Swiggy made a statement saying it has executed definitive agreements to the tune of $ 1 billion and saw investors Tencent, Hillhouse Capital and Wellington Management Company, coming on board.
According to people familiar with the development, this new round of funding will see an increase in Swiggy’s valuation, with the food delivery service now being valued at $ 3.3 billion! The new round of funding is going to be used not only to increase the quality of food being delivered by Swiggy, but also for bridging existing gaps in the fields of supply.
Furthermore, these funds will also be used to hire new talents, especially in the fields of machine learning and engineering roles through the mid and senior levels.
Besides improving the current quality of Swiggy, the company is going to use the new round of funding to expand its presence into a new field of business. When Swiggy got its first round of funding from Naspers back in April 2017, little did the investors know they would see such a massive growth in the company’s success. Through the last year, the online food delivery service has now expanded so much, it plans on entering the grocery and online pharma industries!
“Swiggy has 10x the number of orders per month since our first investment, has expanded throughout India to tier 1, 2 and 3 cities, and most importantly, is the most loved food delivery brand in India, providing the best service to consumers nationwide,” said Larry Illg, CEO, Food and Ventures, Naspers. With three major rounds of funding since 2017, Swiggy has expanded to 42 cities in India and has more than doubled its merchandise value!
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