Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul><li>The funding round was led by M&amp;G Plc with participation from <keyword id="455799" type="General" weightage="50" keywordseo="lightspeed-venture-partners" source="Orion">Lightspeed Venture Partners</keyword> and <keyword id="794823" type="General" weightage="50" keywordseo="dst-global" source="Orion">DST Global</keyword>.</li><li>The eB2B platform aims to turn profitable in the next 12-18 months.</li><li>The eB2B market opportunity is as large as $100 billion, says <keyword id="6357316" type="General" weightage="20" keywordseo="udaan" source="Orion">Udaan</keyword> CEO. </li></ul>India’s largest eB2B platform <keyword id="6357316" type="General" weightage="20" keywordseo="udaan" source="Orion">Udaan</keyword> said on Thursday that it has raised $340 million in Series E financing. The funding round was led by M&amp;G Pls. Existing equity investors like <keyword id="455799" type="General" weightage="50" keywordseo="lightspeed-venture-partners" source="Orion">Lightspeed Venture Partners</keyword> and <keyword id="794823" type="General" weightage="50" keywordseo="dst-global" source="Orion">DST Global</keyword> participated in the round. The fund raise is subject to regulatory approvals. The funding includes a combination of fresh equity investment as well as the conversion of existing debt (convertible notes) into equity. The startup claims that it will strengthen its balance sheet. With this exercise, udaan’s business is fully funded, it said in a press release. “Series E round strengthens our balance sheet and fully funds our business plan. It enables our continued journey of growth and profitability, positioning us well to be public-market ready in the next 12-18 months,” Vaibhav Gupta, co-founder and CEO, udaan. It plans to use the freshly raised funds to strengthen its customer experience, market penetration, strategic vendor partnerships, and to reinforce long-term capabilities of supply-chain and credit. Bejul Somaia, partner, Lightspeed Venture Partners, said, "We believe this financing puts the company on an extremely strong financial footing and on course to further improve profitability while empowering small businesses across Bharat.” Founded in 2016, the platform has operations across lifestyle, electronics, home &amp; kitchen, staples, fruits &amp; vegetables, FMCG, pharma, toys and general merchandise. It has over 3 million retailers and thousands of sellers on the platform, and delivers to over 1,200 cities. It also enables financial products and services to small businesses, manufacturers, and retailers and more. Over the last 12 months, it claims to have seen strong and steady validation of its multi-category cluster-anchored business strategy. “The regional-operated design will not only get us closer to our customers, but also make our operations more agile and efficient. We are committed, as ever, to our mission to empower small businesses of Bharat, while unlocking a uniquely Indian and huge $100 Bn eB2B market opportunity,” said Gupta. Over the past two years, udaan claims to have achieved consistent progress on its sustainability agenda with eight consecutive quarters of improving profitability. “Our investment strategy aligns with udaan’s ambition to simplify and increase efficiency in a congested B2B market,” said Niranjan Sirdeshpande, (EMEA) Director, M&amp;G Catalyst.

Udaan raises $340 mn with eye on listing in 12-18 months

India just had the most investment-starved second quarter since 2013. The total value of deals is down by 62% from $6.1 billion from the same period last year to $2.2 billion in Q2 CY16, according to News Corp VCCEdge. 
 
On a half yearly basis, <a href="http://www.businessinsider.in/searchresult.cms?query=Private+equity&amp;sortorder=effectivedate">private equity</a> deals slipped as much as much as 46% in the first half of this year. Only 643 <keyword id="34499" type="POSITION" weightage="80" keywordseo="private-equity">Private equity</keyword> deals were cracked, worth over $5.8 billion. The deal volume also slipped by 13% from 737 deals last year. While the number of deals are up in Information Technology, the total value has come down a bit from last year. 
 
Interestingly, 2016 saw an uptake in <a href="http://www.businessinsider.in/searchresult.cms?query=angel+investments&amp;sortorder=effectivedate">angel investments</a>. Seed and <keyword id="1848628" type="UNKNOWN" weightage="80" keywordseo="angel-investments">Angel investments</keyword> grew by 16% to 368 deals in the January-June period this year from 317 deals a year ago. The total deal value, however slipped by 25% to $100 million from $134 million. This suggests risk aversion and more judicious funding calls by investors. 
 
Venture and late stage capital declined significantly. The figures are down by 55% in the first half of this year. The deal volume has also slipped 44%. 
 
The rush of capital for Indian startups began way back in 2014. <a href="http://www.businessinsider.in/searchresult.cms?query=Flipkart&amp;sortorder=effectivedate">Flipkart</a> raised a whopping $1 billion in July 2014, and after Chinese e-commerce giant <a href="http://www.businessinsider.in/searchresult.cms?query=Alibaba&amp;sortorder=effectivedate">Alibaba</a> successfully listed its stock in the US markets, <a href="http://www.businessinsider.in/searchresult.cms?query=e-commerce+startups&amp;sortorder=effectivedate">e-commerce startups</a> across the world got a boost globally. <keyword id="163404" type="COMPANY" weightage="40" keywordseo="Softbank">SoftBank</keyword>, which benefited from Alibaba’s IPO lavished attention to what it thought were promising Indian startups. 
 
With a couple of failures, and the financial downturn, the mood has changed A handful of hedge funds are now making new investments. The global internet investors like <a href="http://www.businessinsider.in/searchresult.cms?query=Softbank&amp;sortorder=effectivedate">Softbank</a> and <a href="http://www.businessinsider.in/searchresult.cms?query=DST+Global&amp;sortorder=effectivedate">DST Global</a> are however quieter. 
 
<a href="http://wallpapercave.com/wp/kFWtfAJ.jpg">Image Source</a>

India's Startups just had the worst second quarter since 2013

Some of the Indian startups such as <keyword id="6354742" type="COMPANY" weightage="80" keywordseo="Flipkart">Flipkart</keyword> and <keyword id="541988" type="COMPANY" weightage="80" keywordseo="SnapDeal">Snapdeal</keyword> have already made their mark in the industry in terms of gross revenue earnings. Now, cab aggregator <keyword id="6354720" type="PERSON" weightage="80" keywordseo="Ola">Ola</keyword> will soon be joining the league. The online cab aggregator might earn gross revenue of $1 billion (Rs 6,364 crore) by the next quarter. 
 The Bengaluru-based company is expanding rapidly to smaller towns and cities after it has acquired rival <keyword id="1428790" type="COMPANY" weightage="80" keywordseo="TaxiforSure">TaxiForSure</keyword> in March. It aims to provide 5 lakh trips every day in the next three months to reach the $1 billion revenue target, three company executives told the Economic Times. 
 
This will make it only the third Indian startup after e-Commerce companies Flipkart and Snapdeal to have crossed the coveted milestone. 
 "$1 billion run rate looks achievable in the next quarter," said one of the senior executives. According to one of the persons quoted above, Ola, which raised $400 million (Rs 4,456 crore) last month led by Russian billionaire <keyword id="303107" type="PERSON" weightage="80" keywordseo="Yuri-Milner">Yuri Milner</keyword>'s <keyword id="794823" type="COMPANY" weightage="80" keywordseo="DST-Global">DST Global</keyword> and is preparing for another round of fund raising that could close in the next four months. 
 
"In the next 12 months it will be a $10-billion (Rs 63,640 crore) valuation company," the source said. 
 
However, a spokesman for Ola declined to comment on the latest developments. 
 
The four-year-old company was valued at $2.4 billion in its last round of funding. It has received around $700 million in funding from a slew of marquee investors. 
 
The online cab aggregator has revenue run rate of around $450-500 million. It has to maintain its rapid pace of growth, estimated at over 10% every week, even as it expands to 200 cities in the coming months. The company sources that ET spoke to said both Ola and TaxiForSure together clock up about 2.3 lakh trips per day. 
 
 Moreover, Ola's spurt in revenues is being aided by the rapid growth being registered by TaxiFor-Sure — which has doubled revenue in the two months since it was bought by Ola. Earlier this month, TaxiForSure announced that it completed 10 million rides. 
 Ola has plans to expand its base further as it is also expecting a revenue spurt from new services such as delivery of food, which it introduced earlier this year. It is also looking to tap the <keyword id="1186907" type="UNKNOWN" weightage="60" keywordseo="grocery-business">grocery business</keyword> and is training about 90 delivery boys in Bangalore to launch the service. 
 
(Image: Reuters)

Ola is doing a good job! Its gross revenue to reach $1-billion by next quarter

For the first time, the <a href="http://www.businessinsider.in/searchresult.cms?query=Indian+Government+&amp;sortorder=effectivedate">Indian Government </a>is looking forward to fund up to 60% of the <a href="http://www.businessinsider.in/searchresult.cms?query=research+and+development+%28R%26D%29+&amp;sortorder=effectivedate">research and development (R&amp;D) </a>cost for developing indigenous low-cost electric technology. This move will help power two-, three-wheelers and commercial vehicles operating in public spaces and is aimed at reducing <keyword id="13001" type="COMPANY" weightage="20" keywordseo="pollution">pollution</keyword>. 
 
Electric mobiles are a foolproof alternatives to reduce pollution and along with it, the government is also looking forward to boost its <a href="http://www.businessinsider.in/searchresult.cms?query=%E2%80%98Make+in+India%E2%80%99+&amp;sortorder=effectivedate">‘Make in India’ </a>initiative. 
 
"The intent is to make the hybrid and electric vehicle market in India self-sustaining by increasing domestic capacities for product and technology development. We are inviting proposals in five areas, which will be undertaken as consortia projects involving multiple companies and academic institutions. The government has agreed to provide up to 60% of R&amp;D costs involved in eligible projects,” a senior government representative associated with the <a href="http://www.businessinsider.in/searchresult.cms?query=Technology+Platform+for+Electric+Mobility&amp;sortorder=effectivedate">Technology Platform for Electric Mobility</a> (TPEM), told ET. 
 TPEM is a joint initiative of the departments of heavy industry (DHI) and science and technology (<keyword id="6355529" type="CITY" weightage="20" keywordseo="DST">DST</keyword>). 
 Globally, major <keyword id="32870" type="COMPANY" weightage="20" keywordseo="Auto">auto</keyword> makers design battery modules in-house for use across their range of green vehicles. With demand for electric vehicles being miniscule in India, it has become necessary to design a common module which can be utilised by several manufacturers to generate scale and make viable economics of manufacturing and selling electric vehicles. 
 
"A lot of research is being done at the basic level in India. Indian engineers also work on developing finished products for global companies. However, there is a gap which exists today for progressing from the prototype to testing and validation phase indigenously. The attempt is to bridge this and (locally) make battery modules, motor, motor controllers and power electronics,” an executive from a leading component manufacturing company, told ET. 
 
Also underway is a study to evaluate driving patterns on roads to fine-tune the technology. 
 
"Since electric vehicles run on battery, the use of air-conditioning and driving uphill may draw out excessive energy. The technology has to factor in these conditions. Light weighting is important to address range anxiety,” a second government official told ET.

Government is going aggressive to promote e-vehicles, plans on funding 60% of R&D cost

After getting its hands on a whopping $400 million deal in April this year, now online cab service provider, <a href="http://www.businessinsider.in/searchresult.cms?query=Ola">Ola</a>, is all set to get another huge sum of Rs 3,150 crore ($500 million). 
 
As reported by Economic Times, officials who were directly aware of the development informed that the deal might add to the <a href="http://www.businessinsider.in/On-Demand-Car-Service-Uber-May-Be-Raising-At-A-Massive-3-Billion-Valuation-Or-Higher/articleshow/21347585.cms">valuation </a>of the company. The current valuation of <keyword id="6354720" type="PERSON" weightage="20" keywordseo="Ola">Ola</keyword> is $2.5 billion which might go up to $4.5 billion. 
 
The official, on condition of anonymity, informed ET, "The deal could be finalized in about 2-3 weeks." "As <a href="http://www.businessinsider.in/searchresult.cms?query=Uber+">Uber </a>gets more aggressive in India, Ola will need to burn more cash to maintain its market leadership position," another source further added. 
 
An Ola executive said that the firm is targeting to raise $550 million at a post-money valuation of $5 billion. Reports of bringing new investors onboard have also been heard. 
 The Bengaluru based firm, however, denied making any comments on the matter. Ola, which is a <keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">SoftBank</keyword> backed company have investors including Russian billionaire <keyword id="303107" type="PERSON" weightage="20" keywordseo="Yuri-Milner">Yuri Milner</keyword>'s DST Global, Singapore's GIC and New York based hedge fund Falcon Edge and also Tiger Global, Steadview Capital and <keyword id="144381" type="COMPANY" weightage="20" keywordseo="Accel-Partners">Accel Partners</keyword> are major investors. 
 
Ola, so far, has raised around $676 million in six funding rounds from over a dozen investors. 
 
"The company needs cash to invest further in new businesses as well as continued discounting (for customers)," informed a source. 
With acquiring another taxi-service provider <a href="http://www.businessinsider.in/searchresult.cms?query=TaxiForSure+">TaxiForSure </a>earlier this year, Ola, currently, is present in around 10o Indian cities. 
 
One of Ola’s biggest rivals, San Francisco-based Uber, which is valued at an estimated $50 billion, has grown swiftly in India since its launch in Bengaluru in 2013. It is now present across 20 cities. 
 
The company is currently working on several new initiatives, including carpooling, on-demand food and grocery deliveries, on-demand bus aggregation and logistics. 
 Ola's spurt in revenues has been aided by the $200-million acquisition of rival <keyword id="1428790" type="COMPANY" weightage="20" keywordseo="TaxiforSure">TaxiForSure</keyword>, whose revenues have doubled since the deal closed in March this year. But Ola still accounts for over 80% of the revenue of the combined entity. Ola currently gets over 80% of its bookings through its mobile application. 
 
Image: indiatimes

You Searched For "DST Global" and got 5 results

Udaan raises $340 mn with eye on listing in 12-18 months

Katya Naidu

India's Startups just had the worst second quarter since 2013

Saikat Pyne

Ola is doing a good job! Its gross revenue to reach $1-billion by next quarter

BI India Bureau

Government is going aggressive to promote e-vehicles, plans on funding 60% of R&D cost

BI India Bureau

Ola to raise 3,150 crore to double valuation, in talks with investors

BI India Bureau

Popular Keywords

Buying Guides