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Fosun To Focus On Emerging Start Ups In India

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Fosun International Ltd., a Chinese conglomerate, founded in 1992, recently, expressed an interest to invest in the early stage start ups in India. Fosun is engaged in financial, property, steel and healthcare business. The Chinese investment company is looking forward to the Indian startup ecosystem as it has immense potential to grow further, in the near future. Previously, Fosun was eyeing mid and late staged equity investments in India. However, from now onward, it will focus on those ventures that are in their initial stages. Not only that but the Chinese company is also building a team to look for various opportunities in India.

According to the Managing Director and Head of Fosun, Mr. Tej Kapoor, the company is in the process of closing three deals where the amount is expected to be in an enormous sub million range. In the beginning, Fonus had invested in various firms including Delhivery, MakeMyTrip, Kissht and Ixigo. Mr. Kapoor said Initially, our focus was Series B and other public equity deals… Now, we are going to go into an even earlier stage… These are going to be super angel or seed rounds. These are based on our specific knowledge of sectors that we have great experience of in the Chinese market.

The upcoming investments would be made through Fosun’s venture, Fosun RZ Capital. This venture paved its way in India 18 months ago with its main focus on early stage investments, Fosun, going forward, will focus a bit more toward the emerging start ups when compared to the mid and late stage ventures!

Mr.Kapoor added,

We are extremely pragmatic and value conscious and are not going to get into a bidding war. We are careful about the valuations that are offered, as well as the value add that we can bring to the table.

The Chinese company is in the process of boosting up its team in the country. The team is likely to consist of nine members who would look for emerging start ups in the Delhi NCR, Mumbai and Bengaluru in the coming months.

 

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Facebook Invests In Indian Startup Meesho

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Facebook Invests In Indian Startup Meesho,Startup Stories,Latest Business News 2019,Indian Startup Meesho,Facebook Invested in IIT Alumni,Social Commerce Startup Meesho,Meesho First Startup Investment in India,Facebook Makes another Investment in India

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.

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Dunzo Launches B2B Logistics Services For Small Businesses

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Dunzo Launches B2B Logistics Services,Small Businesses,Dunzo Logistics Services,Startup Stories,Latest Business News 2019,Dunzo Small Businesses,New B2B Logistics Services,Dunzo Launches B2B Logistics,Dunzo Founder,Dunzo Latest News

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.

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Swiggy Raises $ 1 Billion In Funding Round

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Swiggy Raises $1 Billion Funding,Startup Stories,Latest Business News 2018,Top Business News of 2018,Food Delivery Startup Swiggy,Food Delivery Service Swiggy Funding,Swiggy Latest News,Swiggy Funding News 2018,Online Food Delivery Service Swiggy Raises Funding,Swiggy Raises Funds by Naspers

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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