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<ul><li><keyword id="11586983" type="UNKNOWN" weightage="20" keywordseo="vendaxo">Vendaxo</keyword> is a B2B e-commerce platform for buying and selling used machinery.</li><li>It offers machinery liquidation solutions to MSMEs as well as large enterprises.</li><li>The acquisition will give Vendaxo a wider market to work with and <keyword id="3119222" type="PERSON" weightage="20" keywordseo="Moglix">Moglix</keyword>’s technology</li></ul> Business-to-business (B2B) e-commerce platform Moglix on Wednesday, July 7, announced that it has acquired Vendaxo, an e-commerce platform for buying and selling of used machinery. The acquisition will allow the company to provide high value capital goods at economical prices to manufacturers, Moglix said in its press note. The financial details of this acquisition have not been disclosed. Vendaxo is a B2B e-commerce player just like Moglix. It was founded in 2017 by Poonam Choudhary and Nirat Patel. Its users include micro, small and medium enterprises (MSMEs) as well as large manufacturing enterprises such as <keyword id="73372" type="CITY" weightage="20" keywordseo="Siemens">Siemens</keyword>, Arvind India, Marico, Raymond and Torrent Pharma. The company claims to have about 40,000 buyers and sellers registered on its platform and verified listings of 31,000 stock keeping units (SKU). Commenting on this deal, Moglix’s founder and chief executive Rahul Garg, said, “We are excited to welcome Vendaxo into the Moglix ecosystem. We started Moglix with the vision of providing doorstep access to high quality, affordable industrial products. The integration of Vendaxo with our platform is aligned with our vision to bring the ease and speed of e-commerce to the manufacturing sector.” Meanwhile, Vendaxo’s Choudhary added that the company wll be able to reach out to a larger number of users through Moglix. Besides this, the acquisition will also enable Vendaxo to integrate with Moglix’s integrated suite of technology, credit lines, distribution network, and on ground supply chain capabilities for greater market penetration.” Moglix was founded by Garg in 2015 as an e-commerce marketplace for different kinds of industrial tools such as power tools, hand tools, adhesives, and electricals. It also procures and supplies safety tools, hardware, office supplies and more to the industries. According to its previous press notes, the company is serving more than 500,000 small and medium enterprises (SMEs) and 3,000 manufacturing plants across India, Singapore, the UK and the United Arab Emirates. It also works with Hero MotoCorp, Vedanta, <keyword id="6357147" type="COMPANY" weightage="20" keywordseo="tata-steel">Tata Steel</keyword>, <keyword id="45009" type="CITY" weightage="20" keywordseo="Unilever">Unilever</keyword> and public sector undertakings such as Air India and NTPC to help them procure indirect material through its platform. Moglix became the<a href="https://www.businessinsider.in/business/startups/news/ratan-tata-backed-moglix-is-the-13th-unicorn-from-india-this-year/articleshow/82702143.cms"> thirteenth startup</a> to enter the unicorn club this year, after raising $120 million funding at a valuation of $1 billion. A unicorn is a private company valued at or more than $1 billion. The Series E round, closed in April 2021, was led by Falcon Edge Capital and Harvard Management Company (HMC), with participation from Tiger Global, Sequoia Capital India and <keyword id="4346570" type="PERSON" weightage="20" keywordseo="Venture-Highway">Venture Highway</keyword>. SEE ALSO <a href="https://www.businessinsider.in/tech/news/a-small-hospital-assam-is-using-ai-to-detect-strokes-in-tea-planters/articleshow/84194042.cms">A small hospital in a remote corner of Assam is using AI to detect strokes in tea planters</a> <a href="https://www.businessinsider.in/business/startups/news/payments-firm-pine-labs-raises-600-million-as-it-plans-to-go-public-by-2022/articleshow/84162996.cms">Payments firm Pine Labs raises $600 million as it plans to go public by 2022</a> <a href="https://www.businessinsider.in/business/startups/news/zomato-investor-info-edge-has-invested-in-a-drone-startup-skylark/articleshow/84144201.cms">Zomato investor Info Edge has invested in a drone startup helping Swiggy make deliveries</a>

Tiger Global-backed Moglix acquires Vendaxo, a startup that sells used machinery to companies

<ul><li>The B2B e-commerce platform has raised $250 million in a series F round of funding led by <keyword id="526777" type="General" weightage="20" keywordseo="tiger-global" source="Orion">Tiger Global</keyword>, Alpha Wave Global and <keyword id="4786885" type="General" weightage="20" keywordseo="ward-ferry" source="Orion">Ward Ferry</keyword>.</li><li>The e-commerce platform is now valued at $2.6 billion after the latest funding round.</li><li>Overall, the company has raised over $650 million to date.</li></ul><keyword id="3119222" type="General" weightage="20" keywordseo="Moglix" source="Orion">Moglix</keyword>, a Noida-based business to business (B2B) e-commerce platform, has raised $250 million in a new round of funding led by Tiger Global, Alpha Wave Global with Hong Kong-based Ward Ferry coming onboard as a new investor. The e-commerce platform is now valued at $2.6 billion after the latest funding round. The company also claims that undisclosed seed investors have seen a return of 80 times on their investment in this B2B commerce player. Notably, the company had raised its seed round in 2015-2016 from investment firm Accel, industrialist <keyword id="6360722" type="General" weightage="20" keywordseo="ratan-tata" source="Orion">Ratan Tata</keyword> and others. Overall, the company has raised over $650 million to date. It is also backed by various other marquee global investors such as Sequoia, Accel Partners, International Finance Corporation, Harvard Management Company, and others. Rahul Garg, founder and chief executive officer (CEO) said, “We will continue to invest in building technology and supply chain capabilities to enable growth of the manufacturing and infrastructure sector. Moglix will increasingly focus on growth driven by supply chain financing, acquisition of the right partners and global expansion.” In May 2021, the company also became the first B2B commerce unicorn in the manufacturing sector after raising $120 million. A unicorn, in startup parlance, is a private company that is valued at or over $1 billion. Moglix, founded by Indian Institutes of Technology (IIT) Kanpur and Indian School of Business (ISB) graduate Rahul Garg in 2015, is an e-commerce platform, which provides solutions to more than 500,000 small and medium enterprises (SMEs) and over 1000 large manufacturers across India and the UAE. It has a supply chain network of over 16,000 suppliers and over 40 warehouses. The company, which also recently crossed $100 million disbursal rate on its supply chain financing platform Credlix, works with manufacturing and infrastructure companies to transform their end-to-end supply chain, from procurement to distribution. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/budget-2022-indian-government-can-help-zomato-swiggy-uber-and-ola-can-increase-salary-of-delivery-partners-and-drivers/articleshow/89180404.cms">There’s a way government can prod Zomato, Swiggy, Uber and Ola to increase salaries of delivery partners and drivers</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/reports-of-covid-19-variant-neocov-are-spreading-heres-what-we-know-so-far/articleshow/89180852.cms">Reports of COVID-19 variant ‘NeoCov’ are spreading – Here’s what we know so far</a>

Moglix more than doubles its valuation in nine months

<ul><li>Tiger Global has invested in three B2B ecommerce platforms <keyword id="8032183" type="General" weightage="20" keywordseo="infra-market" source="Orion">Infra.Market</keyword>, <keyword id="3119222" type="General" weightage="20" keywordseo="moglix" source="Orion">Moglix</keyword> and <keyword id="3259676" type="General" weightage="20" keywordseo="Ofbusiness" source="Orion">OfBusiness</keyword> this year.</li><li>The three players compete with each other in this sub segment of B2B, but the intricacies of their businesses are quite different.</li><li>OfBusiness is a tech-enabled platform that enables small and medium enterprises (SMEs) with procurement of raw materials and credits.</li></ul>OfBusiness, which allows businesses to purchase bulk orders from sellers online, has doubled its valuation to $3 billion in a $207 million fresh funding round led by Tiger Global. The company was valued at $1.5 billion in July, when it raised $160 million from SoftBank, Falcon Edge and Matrix Partners. Softbank, along with Falcon Edge-managed Alpha Wave Incubation, also participated in the latest round with an infusion of $43 million. New York-based Tiger Global — which is also an investor in other business-to-business (B2B) marketplaces Infra.Market and Moglix — has infused $150 million in the New Delhi-based startup. It is likely to infuse another $15-20 million in the coming round. This is the third major funding round closed by OfBusiness this year. In April this year, the company <a href="https://www.businessinsider.in/business/startups/news/sme-financing-platform-ofbusiness-raises-110-million-from-falcon-edge-capital-valuation-hits-800-million/articleshow/81962626.cms">had raised $110 million</a> led by Falcon Edge Capital at a valuation of $800 million. Interestingly, this is also the third unicorn investment made by Tiger Global in the B2B ecommerce space. Infra.Market, Moglix and OfBusiness are competitors in this sub segment of B2B, but the intricacies of their businesses are quite different. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Focus area </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Valuation </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infra.Market </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Construction material </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$2.5 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">OfBusiness </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Manufacturing and infrastructure development material </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$3 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Moglix </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Industrial and home products </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$1.33 billion </td></tr></tbody><tbody></tbody></table> The nearly $3 billion worth <keyword id="6357316" type="General" weightage="20" keywordseo="udaan" source="Orion">Udaan</keyword>, too, is a <a href="https://www.businessinsider.in/business/startups/news/udaan-fires-half-its-contract-employees/articleshow/75357229.cms">prominent player </a>in the B2B ecommerce space. It helps small businesses to procure products — across categories like electronics, home and kitchen, staples, fruit and vegetables, and more — at lower prices. <keyword id="7466761" type="General" weightage="20" keywordseo="zetwerk" source="Orion">Zetwerk</keyword> — valued at $1.33 billion — entered the unicorn club this year, when it raised $150 million in a round led by D1 Capital. It focuses on online sale of manufacturing material. What is OfBusiness up to? Founded by Asish Mohapatra, Bhuvan Gupta, Vasant Sridhar, Ruchi Kalra and Nitin Jain in 2015, the New Delhi-based startup is a tech-enabled platform that enables small and medium enterprises (SMEs) with procurement of raw materials and credits. It has a separate entity, NBFC Oxyzo Financial Services, to offer financing solutions to SMEs. This entity has a loan book of $240 million, with 5,000 borrowers to the list. The company claims to be at an annual revenue run-rate of $1.4 billion. It further plans to increase this with expansion of its operations and acquisition of other businesses, Mohapatra <a href="https://economictimes.indiatimes.com/tech/funding/ofbusiness-valuation-doubles-to-3-billion-after-tiger-global-led-funding/articleshow/86645251.cms">told</a> The Economic Times. It claims to be underway to close several such acquisitions. The company competes with platforms like Moglix, Infra.Market, Zetwerks and others on the B2B ecommerce business fronts. In SME lending, it is competing with other platforms like BharatPe, LendingKart, Aye Finance and many others. OfBusiness, along with its B2B ecommerce rivals mentioned above, are among the 28 startups that entered the unicorn club this year, with a valuation of over $1 billion. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/paras-defence-maruti-suzuki-airtel-vodafone-idea-and-other-top-stocks-to-watch-out-for-on-october-1/slidelist/86670108.cms" data-type="tilCustomLink">Paras Defence, Maruti Suzuki, Airtel, Vodafone Idea and other top stocks to watch out for on October 1</a> <a href="https://www.businessinsider.in/stock-market/news/paras-defence-space-tech-ipo-continues-to-demand-a-premium-of-200-in-grey-market/articleshow/86663834.cms" data-type="tilCustomLink">Paras Defence &amp; Space Tech IPO continues to demand a premium of ₹200 in grey market</a> <a href="https://www.businessinsider.in/business/startups/news/ola-electric-raises-200-million-from-softbank-falcon-edge-at-valuation-of-3-billion/articleshow/86649236.cms">4-year old Ola Electric is now worth over a half of its older sibling Ola</a>

Tiger Global is now an investor in three of the five B2B ecommerce unicorns in India

<ul><li><keyword id="3119222" type="PERSON" weightage="20" keywordseo="Moglix">Moglix</keyword> has become the 13th <keyword id="152045" type="ORGANIZATION" weightage="20" keywordseo="Unicorn">unicorn</keyword> from India this year. </li><li>The B2B <keyword id="436047" type="COMPANY" weightage="20" keywordseo="Ecommerce">eCommerce</keyword> marketplace has raised $120 million in the new funding round. </li><li>The overall valuation of the firm rose to $1 billion after the latest series of funding.</li></ul>Indian industrial business-to-business marketplace Moglix has raised $120 million in a new financing round at a $1 billion valuation to become the 13th firm from India to attain unicorn status in the country this year. The overall valuation rose to $1 billion after its latest series-E funding round, led by Falcon Edge Capital and Harvard Management Company (HMC). Existing investors Tiger Global, Sequoia Capital India and Venture Highway also participated in this round. The six-year old startup has raised $220 million to date. Moglix is founded by IIT Kanpur graduate <keyword id="227632" type="PERSON" weightage="20" keywordseo="Rahul-Garg">Rahul Garg</keyword>, former Head of Advertising Exchange at Google Asia. Moglix is a marketplace for procurement of industrial products like MRO (manufacture, repair and operating supplies), fasteners, electrical, hardware, pneumatics, and safety items among others. Currently, Moglix is serving more than 5,00,000 small and medium enterprises and 3,000 manufacturing plants across India, Singapore, the UK and the United Arab Emirates. It also works with Hero MotoCorp, Vedanta, Tata Steel, Unilever and public service undertakings such as Air India and NTPC to help them procure indirect material through its platform. The B2B e-commerce market is currently in the growing phase. According to a <a href="https://www.pwc.in/assets/pdfs/research-insights/full-potential-revival-and-growth/full-potential-revival-and-growth-charting-indias-medium-term-journey.pdf">report</a> by consultancy firm PwC, manufacturers still rely on offline (and largely unorganised) and indirect purchase for 80% of their supply needs. Moglix has an early mover in this space. The company’s revenue more than tripled in the financial year ending March 2019 to ₹217 crore and the losses increased to a little over ₹48 crore, <a href="https://www.moneycontrol.com/news/business/companies/exclusive-moglix-valuation-to-triple-to-1-billion-falcon-edge-to-invest-6679631.html">according to a Moneycontrol report in March 2021</a>.

Ratan Tata-backed Moglix is the 13th unicorn from India this year

The shareholders of <keyword id="10926" type="CITY" weightage="20" keywordseo="Reliance">Reliance</keyword> Infrastructure Limited (Reliance Infra), through postal ballot, have approved with overwhelming majority, the raising of funds upto ₹550.56 crore by preferential allotment of upto 8.88 crore equity shares and/or warrants convertible into equivalent number of equity shares of the Company to promoters and <keyword id="11588068" type="UNKNOWN" weightage="20" keywordseo="vfsi-holdings-pte">VFSI Holdings Pte</keyword>. Limited, an affiliate of <keyword id="11588067" type="UNKNOWN" weightage="20" keywordseo="varde-investment-partners">Varde Investment Partners</keyword>, LP. The shareholders of Reliance Infra have also approved with overwhelming majority, the raising of funds by issue of Foreign Currency Convertible Bonds (FCCB) up to 24 per cent of the than fully diluted equity share capital of the Company. The funds raised would be utilised for long term resources, for general corporate purposes and to fund future growth. Reliance Infrastructure Limited (RInfra) is one of the largest infrastructure companies, developing projects through various <keyword id="732527" type="ORGANIZATION" weightage="20" keywordseo="Special-Purpose-Vehicles">Special Purpose Vehicles</keyword> (SPVs) in several high growth sectors such as Power, Roads and Metro Rail in the Infrastructure space and the Defence sector. RInfra is a major player in providing Engineering and Construction (E&amp;C) services for developing power, infrastructure, metro and road projects. RInfra through its SPVs has executed a portfolio of infrastructure projects such as a metro rail project in Mumbai on build, own, operate and transfer (BOOT) basis; nine road projects on build, operate and transfer (BOT) basis. RInfra is also a leading utility company having presence in <keyword id="532777" type="PERSON" weightage="20" keywordseo="power-distribution-business">Power Distribution Business</keyword> in Delhi. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/tiger-global-backed-moglix-acquires-b2b-e-commerce-platform-vedaxo/articleshow/84198960.cms">Tiger Global-backed Moglix acquires Vendaxo, a startup that sells used machinery to companies</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/titans-revenue-in-the-june-2021-quarter-doubled-from-a-year-ago/articleshow/84198618.cms">Titan's revenue in June 2021 quarter doubled from a year ago when business was under complete lockdown for most part</a>

Anil Ambani's Reliance Infra, the company behind Mumbai Metro, to raise ₹550 crore for future growth

If you were thinking that tech majors in India are only investing money in start-ups belonging to their industry, you might be in for a shock, since corporates are also sharing their technical expertise and network with start-ups so that they can reach new heights. This is, of course, being done for mutual benefits of both the majors and the start-ups. 
 
While the start-ups get the technical expertise and network, the corporates, in turn, get innovative techniques and new ideas. 
 In recent weeks, a number of tech giants, viz. SAP Labs, Autodesk, Cisco and Amazon Web Services, announced their engagements and associations with <keyword id="770060" type="UNKNOWN" weightage="100" keywordseo="Indian-start-ups">Indian start-ups</keyword>. 
 
The global companies operating in the country are looking for start-ups that can align with their business strategy for India, which includes developing new solutions to finding new markets for the existing techniques. 
 
Even though being a part of a full-time corporate programme is no less than a risk for a growth-stage company, the benefits definitely outnumber the concerns about its growth. 
 
"The benefits of association with SAP will work both ways - in terms of educating our customer base the benefits of the SAP gateway solutions as well as using SAP's network of companies to scale the base for Moglix," Rahul Garg, founder of B2B ecommerce start-up Moglix, told <a href="http://economictimes.indiatimes.com/small-biz/startups/tech-majors-like-sap-labs-autodesk-and-cisco-engage-with-the-vibrant-indian-startup-ecosystem/articleshow/53088972.cms">ET</a>. Moglix is a part of the 12-month long SAP Startup Studio programme. 
 
<a href="https://www.taxprofessionals.com/uploads/news-pictures/430-henderson-blog-post-image-20150531162419.jpg">Image source</a>

Indian tech majors are bringing in their expertise to Indian start-ups for mutual benefits

While <a href="http://www.businessinsider.in/searchresult.cms?query=Alibaba+&amp;sortorder=effectivedate">Alibaba </a>puts in place its plans of entering the consumer-facing e-commerce space in India, the CEO <a href="http://www.businessinsider.in/searchresult.cms?query=Jack+Ma-led&amp;sortorder=effectivedate">Jack Ma-led</a> Chinese ecommerce behemoth has also taken several steps to strike partnerships to improve its existing business-to-business marketplace venture here in India. 
 According to some sources, <keyword id="302749" type="COMPANY" weightage="100" keywordseo="Alibaba">Alibaba</keyword> might partner with <a href="http://www.businessinsider.in/searchresult.cms?query=DHL&amp;sortorder=effectivedate">DHL</a> and <a href="http://www.businessinsider.in/searchresult.cms?query=Delhivery&amp;sortorder=effectivedate">Delhivery</a> to provide Indian sellers with domestic and international logistics support and also financial support with the help of its already existing partners like <keyword id="44373" type="CITY" weightage="20" keywordseo="Aditya-Birla-Group">Aditya Birla Group</keyword>'s <keyword id="6355260" type="CITY" weightage="20" keywordseo="NBFC">NBFC</keyword> arm, <a href="http://www.businessinsider.in/searchresult.cms?query=IDFC+Bank&amp;sortorder=effectivedate">IDFC Bank</a> and <a href="http://www.businessinsider.in/searchresult.cms?query=Kotak+Mahindra+Bank&amp;sortorder=effectivedate">Kotak Mahindra Bank</a>. 
 
Some players already exist in this space like <a href="http://www.businessinsider.in/searchresult.cms?query=IndiaMART+&amp;sortorder=effectivedate">IndiaMART </a>and startups including Moglix, mSupply.com and Ofbusiness, besides <a href="http://www.businessinsider.in/searchresult.cms?query=Amazon+Business&amp;sortorder=effectivedate">Amazon Business</a>, which has a small presence here. 
 
There have been rumors about Alibaba's entering into the consumer e-commerce market through an acquisition, which will pit it against Amazon, <a href="http://www.businessinsider.in/searchresult.cms?query=Flipkart&amp;sortorder=effectivedate">Flipkart</a> and <a href="http://www.businessinsider.in/searchresult.cms?query=Snapdeal&amp;sortorder=effectivedate">Snapdeal</a>, where it's a small shareholder. 
 
An Alibaba spokesperson confirmed the partnerships. 
 
"Their B2B platform has been around for years but they haven't been able to make much progress scaling it. Now it seems they are seriously looking to focus on the B2B side by helping sellers with working capital and logistics. They'll also bring in Chinese vendors onto the site as they have great depth in the merchant ecosystem back home," a person privy to the developments told TOI. 
 
In 2015, Alibaba.com reported a profit of Rs 1.3 crore as per filings made to the Registrar of Companies. The number was almost the same a year ago. 
 
Alibaba has been operating in India since 2007 and it had claimed that its marketplace had 4.46 million registered Indian buyers and sellers at the end of 2014. 
(image:Reuters)

Alibaba all set to take B2B in
India to a whole new level, to aid sellers on its platform.

<ul><li><keyword id="9148173" type="General" weightage="20" keywordseo="pepper-content" source="Orion">Pepper Content</keyword> has raised $14.3 million in order to expand to the US-market.</li><li>It currently works with 2,500 customers such as Adani Enterprises, Hindustan Unilever, P&amp;G and others.</li><li>The company’s founder believes that their existing backers will make this international journey much easier given their existing network and expertise.</li></ul><keyword id="14146559" type="General" weightage="20" keywordseo="content-agency" source="Orion">Content agency</keyword> Pepper Content has raised a whopping $14.3 million (₹110 crore) in an attempt to expand to the US. The company currently runs its fill-stack content marketplace in India. Pepper Content’s Series A round was led by <keyword id="2828823" type="General" weightage="20" keywordseo="bessemer" source="Orion">Bessemer</keyword> Venture Partners. Tanglin Venture Partners, Lightspeed and Titan Capital also participated in the round, along with seasoned global operators like Doordash’s Gokul Rajaram, OYO’s Ritesh Agarwal and Abhinav Sinha, Teachable’s Ankur Nagpal, Nutanix’s Dheeraj Pandey, Helion.vc’s Ashish Gupta, and CRED’s Kunal Shah. <cmsannotation type="cmsannotation" annotationid="Choosing US was a simple decision" comment="subhead" text="Choosing US was a simple decision">Choosing US was a simple decision</cmsannotation> The company will use the proceeds from this funding to expand its international operations, particularly in the USA. Usually, companies start their international operations from the Middle East or other countries in Southeast Asia because of their similarities with the Indian market. However, Pepper Content has decided to skip that market for exactly the same reason. <div type="ExtQuote" text="“Instead of fighting the same battle in a similar market across the world, we thought let's just go after the biggest market because if not now, one year after we will have to go after the US. So why not start with the US, get in those bigger chunkier pieces then expand globally.”" auname="— Rishabh Shekhar, the co-founder of Pepper Content, said in a conversation with Business Insider."></div> Another factor that motivated Shekhar to skip the Middle East and expand directly to the US is the “seamless acceptance” of its products during trials in the US market. The other reason for Pepper Content to go after the US market is the ability to earn in dollars that too in a market which is more focused on quality of content rather than the price, he explained. <cmsannotation type="cmsannotation" annotationid="More services, more competition" comment="subhead" text="More services, more competition">More services, more competition</cmsannotation> Pepper Content — founded in 2017 by Anirudh Singla and Shekhar at the BITS Pilani campus — is a full-stack content marketplace (SaaS) that connects content creators to organisations that require content. The company claims to work with 2,500 customers such as Adani Enterprises, Hindustan Unilever, Procter &amp; Gamble (P&amp;G), HDFC Bank, CRED, Groww, SBI Mutual Funds. Google, Binance and Adobe. Along with the expansion to the US market, the company has also decided to introduce fresh services like graphic design, language translations, and video content creation. The new and existing verticals would pit Pepper Content against <keyword id="14146561" type="General" weightage="20" keywordseo="verbilo" source="Orion">Verbilo</keyword>, <keyword id="222017" type="General" weightage="20" keywordseo="webchutney" source="Orion">Webchutney</keyword>, <keyword id="14146562" type="General" weightage="20" keywordseo="99design" source="Orion">99design</keyword> and <keyword id="14146563" type="General" weightage="20" keywordseo="super-design" source="Orion">Super Design</keyword> in the US market. “What Salesforce has done for Sales, we will do for the content ecosystem,” both Singla and Shekhar said in a statement. <cmsannotation type="cmsannotation" annotationid="Shekhar says existing investors could make its US expansion easier" comment="subhead" text="Shekhar says existing investors could make its US expansion easier">Shekhar says existing investors could make its US expansion easier</cmsannotation> Shekhar also noted that their existing backers will make this international journey much easier given their existing network and expertise. “We have got the right people. And Bessemer is really big in [the] US, so we are already in contact with the US arm,” Shekhar told Business Insider. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Investor </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Designation / Advantage </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bessemer Venture Partners </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">The US-based fund had been a backer in LinkedIn, Pinterest, Shopify, Yelp and others </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tanglin Venture Partners </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">The Singapore-based fund had invested in Jupiter, Rupeek, Open, Inshorts, Moglix </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Lightspeed </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">The US-based fund has invested in around 1,200 companies including Byju’s, OYO, ShareChat </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gokul Rajaram </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Product and Business Helper at Doordash, Board Member at Coinbase and Pinterest </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ritesh Agarwal </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">CEO of global budget hotel chain OYO </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dheeraj Pandey </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Founder of Nutanix, Board Member at Adobe </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ashish Gupta </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Founder at Helion.vc, Board Member at Hindustan Unilever Limited (HUL) </td></tr></tbody><tbody></tbody><tbody></tbody></table>Source: Pepper Content, Company websites "We firmly believe that the future of work is on-demand driven and we love the approach that Pepper is taking to build a powerful content marketing stack that helps startups and enterprises to work more strategically with expert on-demand freelance talent and enable workflows and collaboration tools to create great quality content,” Anant Vidur Puri, partner at Bessemer Venture Partners, said. SEE ALSO <a href="https://www.businessinsider.in/business/ecommerce/news/after-amazon-flipkart-reliance-and-tata-neu-indias-133-billion-ecommerce-market-may-be-too-little-for-a-fifth-player/articleshow/92062540.cms">After Amazon, Flipkart, Reliance and Tata Neu, India's $133 billion ecommerce market may be too little for a fifth player</a> <a href="https://www.businessinsider.in/business/startups/news/physicswallah-is-indias-first-profitable-edtech-startup-up-here/articleshow/92056796.cms">YouTube channel to a billion dollar company — India’s first profitable edtech unicorn is here</a> <a href="https://www.businessinsider.in/business/news/deepinder-goyal-akshant-goyal-here-is-how-much-zomatos-dream-team-earned-since-october-2021/articleshow/92080767.cms">Deepinder Goyal, Akshant Goyal — here is how much Zomato’s dream team earned since October 2021</a>

INTERVIEW: Pepper Content skip the traditional Middle East route, heads directly for the US market

If you planning an online money transfer using the banking system between Saturday midnight and Sunday, you are well advised to either cancel or postpone such transfers. The <keyword id="6354335" type="COMPANY" weightage="20" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword> (<keyword id="30067" type="ORGANIZATION" weightage="20" keywordseo="RBI">RBI</keyword>) on Monday said that due to <keyword id="285745" type="COMPANY" weightage="20" keywordseo="NEFT">NEFT</keyword> system upgrade, this service will not be available from 00:01 hrs to 14:00 hours on Sunday, May 23, 2021. This would mean that during this period any money transfer involving NEFT system would not be available for use by bank customers. But, the <keyword id="1900239" type="PERSON" weightage="20" keywordseo="RTGS-system">RTGS system</keyword> will continue to be operational as usual during this period. It may be mentioned that a similar technical upgrade for <keyword id="6356014" type="COMPANY" weightage="20" keywordseo="rtgs">RTGS</keyword> was completed on April 18, 2021. "A technical upgrade of NEFT, targeted to enhance the performance and resilience, is scheduled after the close of business of May 22, 2021. Accordingly, NEFT service will not be available from 00:01 hrs to 14:00 hrs on Sunday, May 23, 2021," an RBI communication to banks said. The communication advised banks to inform their customers to plan their payment operations accordingly. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/battlegrounds-mobile-india-pre-registrations-to-begin-on-may-18/articleshow/82702403.cms" style="">PUBG Mobile: Battlegrounds Mobile India pre-registrations to begin on May 18 – rewards, maps and more</a> <a href="https://www.businessinsider.in/business/startups/news/ratan-tata-backed-moglix-is-the-13th-unicorn-from-india-this-year/articleshow/82702143.cms" style="">Ratan Tata-backed Moglix is the 13th unicorn from India this year</a> <a href="https://www.businessinsider.in/cryptocurrency/news/elon-musk-hints-that-tesla-may-dump-its-billion-dollar-bitcoin-investment/articleshow/82699553.cms">Elon Musk hints that Tesla may dump its billion dollar Bitcoin investment — here’s why his tweets have so much power</a>

Bank NEFT transfers will be down for 14 hours on May 23

<ul><li>The round was co-led by WestBridge Capital, Alpha Wave Incubation and Z3Partners.</li><li><keyword id="7412577" type="UNKNOWN" weightage="20" keywordseo="DealShare">DealShare</keyword> has raised about $183 million to date since its inception in 2018.</li><li>It primarily focuses on sale of groceries and household essential products.</li></ul><keyword id="526777" type="COMPANY" weightage="20" keywordseo="Tiger-Global">Tiger Global</keyword> has bet big bucks on social commerce startup DealShare, which closed its $144 million (₹1,075 crore) funding round on Thursday, July 8. The round was led by the New York-based venture capital firm and was co-led by WestBridge Capital, Alpha Wave Incubation and Z3Partners. Partners of DST Global, Matrix Partners India and Alteria Capital also participated in this round. This marks the third funding deal for DealShare in a span of seven months. The company claims that its valuation has increased nine-fold in this same period. The Jaipur-based startup has not shared any other details about its valuation. Avendus acted as the exclusive financial advisor to DealShare on this transaction. The startup will use this funding to invest in artificial intelligence (AI)-driven innovations to offer more personalised experiences to its customers as well as improve and scale operations. A part of the funding would also be used for DealShare’s geographical expansion. The social commerce startup aims to increase its footprint from 20 warehouses across 5 states to over 200 warehouses across 10 states by the end of 2021. “We are proud to have a strong team of innovators who love to continually learn consumer behaviour and solve hard business problems. This has enabled DealShare to rapidly grow to $200 million GMV [Gross Merchandise Value] ARR [Annual Run Rate]... Our monthly active users already use our app over 40 times a month making it the most engaging ecommerce app and we will continue to add more innovative capabilities and services to serve a wider range of user needs,” DealShare’s chief executive and co-founder Vineet Rao said. DealShare competes with other social commerce platforms like <a href="https://www.businessinsider.in/business/startups/news/citymall-a-startup-that-helps-budding-entrepreneurs-start-their-ventures-on-whatsapp-has-raised-over-22-million/articleshow/83741383.cms">Meesho, CityMall and BulBul</a>, among others. Meesho entered the unicorn club in April 2021 and has raised $515 million to date from SoftBank, Facebook and others. A unicorn, in startup parlance, is a private firm valued at or more than $1 billion. Overall, DealShare has raised $183 million to date since its inception in 2018. The company was founded by Rajat Shikhar, Sankar Bora, Sourjyendu Medda and Rao. It primarily focuses on sale of groceries and household essential products through social media and messaging platforms like WhatsApp. The Jaipur-based startup claims to service 1 lakh orders on a daily basis and has marked its presence in 40 Indian cities and towns. It is now aiming to expand to over 100 cities in 2021. The company further claims to have acquired 30 lakh consumers to date. DealShare’s COO and founder Bora has emphasised that the company has over 1,000+ micro-entrepreneurs partners registered on the platform, who help sell the products online. The company targets to increase this figure to 5,000 by year end. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/zomato-ipo-to-open-on-july-14-with-shares-priced-at-72-76-apiece/articleshow/84226269.cms">Zomato IPO to open on July 14 ⁠with shares priced at ₹72-76 apiece</a> <a href="https://www.businessinsider.in/business/startups/news/tiger-global-backed-moglix-acquires-b2b-e-commerce-platform-vedaxo/articleshow/84198960.cmshttps://www.businessinsider.in/business/startups/news/tiger-global-backed-moglix-acquires-b2b-e-commerce-platform-vedaxo/articleshow/84198960.cms">Tiger Global-backed Moglix acquires Vendaxo, a startup that sells used machinery to companies</a> <a href="https://www.businessinsider.in/business/startups/news/payments-firm-pine-labs-raises-600-million-as-it-plans-to-go-public-by-2022/articleshow/84162996.cms">Payments firm Pine Labs raises $600 million as it plans to go public by 2022</a>

Social commerce startup DealShare raises $144 million from Tiger Global

<keyword id="1518229" type="PERSON" weightage="20" keywordseo="Lenskart">Lenskart</keyword> on Monday said global investment firm <keyword id="6354544" type="COMPANY" weightage="20" keywordseo="kkr">KKR</keyword> will invest <keyword id="54123" type="COMPANY" weightage="20" keywordseo="USD">USD</keyword> 95 million (about Rs 695.8 crore) in the omni-channel eyewear retailer via a secondary stake acquisition. As part of the transaction, existing <keyword id="6359051" type="UNKNOWN" weightage="20" keywordseo="investors">investors</keyword> - TPG Growth and TR Capital - will each divest a portion of their holding in Lenskart, a statement said. These entities had invested in Lenskart in late 2014. Upon the completion of the transaction, KKR will look to leverage its experience working with leading technology and eyewear companies globally to support Lenskart in expanding its presence in India, scaling its growing operations overseas, and enhancing its digital offerings to augment customers' virtual and omni-store experience, the statement said. According to reports, KKR's investment is part of a larger USD 300-million round. However, the companies did not comment on the report and if other investors have participated in the round. KKR said it is making its investment from its Asian private equity fund. Some of the recent technology-focused investments for KKR in Asia include Adopt A Cow (a digitalised, direct-to-consumer dairy company in China), NetStars (the operator of Japan's largest QR code payment gateway), and Walnut Programming (a children's programming education company in China). In 2019, Lenskart had announced raising over USD 275 million (nearly ₹1,956 crore) from Softbank Vision Fund. In the past, it has received funding from investors' like Ratan Tata, PremjiInvest, <keyword id="85860" type="COMPANY" weightage="20" keywordseo="IFC">IFC</keyword> (venture capital arm of the <keyword id="6354424" type="COMPANY" weightage="20" keywordseo="world-bank">World Bank</keyword>), TPG Growth, IDG Ventures, Unilazer Ventures and Adveq. Established in 2010, Lenskart currently serves over 7 million customers annually through its omni-channel presence that spans online, mobile application, and 730 stores in 175 cities across the country. In 2019, Lenskart had also expanded to Singapore, marking its foray into Southeast Asia. Lenskart integrates technology into all aspects of its operations, to the browsing, shopping and purchasing experience, in addition to manufacturing and supply-chain optimisation. Among Lenskart's digital offerings is a virtual 3D try-on tool; AI-powered facial mapping and frame recommendation features; smart physical stores with seamless omni-channel experience; and footfall tracking beacons, heat maps and demographic analytics; and intelligent supply-chain and inventory-management solutions. More than 600 million people in India and 4.5 billion people globally need vision correction, but only a fraction of them use it due to a lack of access, awareness, and high-quality, affordable solutions, Lenskart CEO Peyush Bansal said. Lenskart was founded to address this gap by leveraging technology to make eyewear accessible to everyone - first in India, and now worldwide, he added. "In the next five years, we aspire to have 50 per cent of India wearing our specs... We are thrilled to welcome KKR as an investor given their significant experience working with leading global eyewear retailers such as National Vision and 1-800 Contacts as well as technology-focused businesses globally," he said. KKR Partner Gaurav Trehan said as a technology-driven business, Lenskart is a strong, homegrown disruptor in India's rapidly expanding eyewear industry. "We are truly excited to work with Peyush and Lenskart's impressive management team to support Lenskart's growth and innovation in India and internationally, in addition to advancing its mission to provide affordable, accessible eyewear products for everyone," he added. Avendus Capital advised Lenskart on the transaction. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/battlegrounds-mobile-india-pre-registrations-to-begin-on-may-18/articleshow/82702403.cms">PUBG Mobile: Battlegrounds Mobile India pre-registrations to begin on May 18 – rewards, maps and more</a> <a href="https://www.businessinsider.in/business/startups/news/ratan-tata-backed-moglix-is-the-13th-unicorn-from-india-this-year/articleshow/82702143.cms">Ratan Tata-backed Moglix is the 13th unicorn from India this year</a> <a href="https://www.businessinsider.in/cryptocurrency/news/elon-musk-hints-that-tesla-may-dump-its-billion-dollar-bitcoin-investment/articleshow/82699553.cms">Elon Musk hints that Tesla may dump its billion dollar Bitcoin investment — here’s why his tweets have so much power</a>

Lenskart gets funding of $95 million from global investment firm KKR

<ul><li>Banking technology startup <keyword id="702953" type="COMPANY" weightage="20" keywordseo="Zeta">Zeta</keyword> is the latest to join the Indian <keyword id="152045" type="ORGANIZATION" weightage="20" keywordseo="Unicorn">unicorn</keyword> club.</li><li>The company has been valued at $1.45 billion after raising $250 million in its Series C round of funding.</li><li>Zeta plans to use the fresh infusion of capital to expand its presence in the US and European markets where banks are moving away from branches to offering their services online.</li></ul>Zeta, a banking technology startup based in Bengaluru, is the newest Indian startup to attain the ‘unicorn’ status. In its Series C round of funding the company raised $250 million from Softbank Vision Fund II at a valuation of $1.45 billion. A ‘unicorn’ is a private company that is valued at $1 billion or more. The deal more than quadruples Zeta’s valuation since 2019, when Sodexo SA valued the startup at $300 million. With new money in its pocket and a brand new unicorn tag, Zeta plans to use the new funding to expand in the US and European markets. “They [banks] have been slow to innovate and provide poor user experiences,” said Bhavin Turakhia, co-founder of Zeta. According to him, Zeta is poised to capture the markets where banks are moving online and away from the conventional branches. It provides backbone technology for credit and credit-card processing, core banking, loans, mobile banking and personal finance management. <div type="ExtQuote" text="“Banking software is a $300 billion industry globally. Most banks still employ technology, which is significantly older than their customers, impacting user experience and engagement." auname="Munish Varma, managing partner at SoftBank Investment Advisers"></div> The company is banking on its simplified approach being different enough to attract customers. Rather than work with numerous supplies, as banks and financial institutions typically do, Zeta wants to combine all of those services and provide one cloud-based offering. So far, Zeta has 10 banks and 25 <keyword id="2461546" type="COMPANY" weightage="20" keywordseo="FinTech">fintech</keyword> companies across eight countries among its customers. This includes bigwig Indian banks like HDFC Bank, Kotak Mahindra, Axis, and others. Sodexo, an existing investor, is also a customer. It participated as a minority investor in the Series C round of funding. <cmsannotation type="cmsannotation" annotationid="List of startups that have entered the unicorn club in 2021:" comment="subhead" text="List of startups that have entered the unicorn club in 2021:">List of startups that have entered the unicorn club in 2021:</cmsannotation> <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Startup </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Valuation </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Digit Insurance </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$1.9 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Innovaccer </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$1.3 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Meesho </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$2.1 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infra.Market </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$1 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">PharmEasy </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$1.5 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cred </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$2.2 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Groww </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$1 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ShareChat </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$2.1 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gupshup </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$1.4 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Chargebee </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$1.4 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Urban Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$2 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Five Star Finance </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$1.4 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Moglix </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$1 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zeta </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$1.4 billion </td></tr></tbody></table> Turakhia doesn’t normally rely on external funding. In fact, most of the startups he’s been involved in, in the past, have been without institutional funding. Zeta’s move to raise capital marks a departure from his preference for bootstrapping his businesses. Zeta founder, 41-year old Turakhia, launched the startup in 2015 after already having dipped his toe — more like submerged his toe — in multiple startups with his brother, Divyank. He was already coding at the age of 10 and had attained millionaire status by the time he hit 20. By the time he was 26, he shared a billion-dollar fortune with his brother. SEE ALSO: <a href="https://www.businessinsider.in/science/environment/news/indias-silicon-valley-bengaluru-is-awed-by-the-rainbow-coloured-halo-in-its-skies/articleshow/82909806.cms">India's Silicon Valley is awed by the rainbow-coloured halo in its skies — but take pictures at your own risk</a> <a href="https://www.businessinsider.in/india/news/indias-prime-minister-narendra-modi-gets-a-unique-proposal-via-a-newspaper-advertisement/articleshow/82908689.cms">India's Prime Minister Narendra Modi gets a unique proposal via a newspaper advertisement</a>

This banking tech startup is the newest Indian unicorn with a $1.45 billion valuation

<ul><li><keyword id="2811049" type="PERSON" weightage="20" keywordseo="UrbanClap">UrbanClap</keyword> has reportedly raised ₹1.6 crore from <keyword id="6379357" type="PERSON" weightage="20" keywordseo="kalyan-krishnamurthy">Kalyan Krishnamurthy</keyword>. </li><li>This is Kalyan’s second personal <keyword id="6355120" type="UNKNOWN" weightage="20" keywordseo="investment">investment</keyword>, while the first one was B2B <keyword id="138263" type="PERSON" weightage="20" keywordseo="startup">startup</keyword> Moglix. </li><li>The home services startup includes Ratan Tata, SAIF Partners, Accel Partners among others in its list of existing investors. </li></ul>Gurgaon-based home services startup UrbanClap has raised ₹1.6 crore from <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> CEO Kalyan Krishnamurthy, according to <a href="https://www.business-standard.com/article/companies/after-moglix-flipkart-ceo-kalyan-krishnamurthy-bets-big-on-urbanclap-119040900054_1.html">paper.vc,</a> a business intelligence firm. The Gurgaon-based home services startup UrbanClap has a list of existing marquee investors like SAIF Partners, Ratan Tata, Accel Partners and Bessemer Venture Partners. Prior to this investment, the startup had raised funding of $50 million in a Series D round from Steadview Capital Management and existing investor Vy Capital in November 2018. UrbanClap had also recently <a href="https://bestmediainfo.com/2019/03/urbanclap-unveils-new-campaign-with-ayushmann-khurrana-as-brand-ambassador/">announced</a> that Bollywood star Ayushmann Khurrana is its brand ambassador. The startup, which was founded in 2014, offers services at home for its customers. In almost five years in the business, the startup has garnered more than 35,000 trusted and verified professionals on the platform that serve more than 500,000 customers each month, across 10 cities in India (including Ahmedabad, Bengaluru, Chandigarh, Chennai, Delhi NCR, Hyderabad, Jaipur, Kolkata, Mumbai, Pune). The startup also made its international debut by expanding its offerings into Dubai. Meanwhile, Flipkart CEO Kalyan Krishnamurthy has been upping his investment game. He made his first solo investment in the B2B startup Moglix. The investment amount remains undisclosed. Kalyan during his earlier stint as Managing Director at investment firm Tiger Global had made investments in Nestaway, Curefit etc. See Also: <a href="https://www.businessinsider.in/here-are-the-25-most-popular-workplaces-in-india-according-to-linkedin/articleshow/68704338.cms">Here are the 25 most popular workplaces in India, according to LinkedIn</a> <a href="https://www.businessinsider.in/large-ticket-deals-drive-rise-in-private-equity-investments-in-india-this-year/articleshow/68296615.cms">Large ticket deals drive rise in private equity investments in India this year</a>

You Searched For "moglix business" and got 13 results

Tiger Global-backed Moglix acquires Vendaxo, a startup that sells used machinery to companies

Kritti Bhalla

Moglix more than doubles its valuation in nine months

Vaamanaa Sethi

Tiger Global is now an investor in three of the five B2B ecommerce unicorns in India

Kritti Bhalla

Ratan Tata-backed Moglix is the 13th unicorn from India this year

Sudhanshu Singh

Anil Ambani's Reliance Infra, the company behind Mumbai Metro, to raise ₹550 crore for future growth

IANS

Indian tech majors are bringing in their expertise to Indian start-ups for mutual benefits

BI India Bureau

Alibaba all set to take B2B in India to a whole new level, to aid sellers on its platform.

BI India Bureau

INTERVIEW: Pepper Content skip the traditional Middle East route, heads directly for the US market

Kritti Bhalla

Bank NEFT transfers will be down for 14 hours on May 23

IANS

Social commerce startup DealShare raises $144 million from Tiger Global

Kritti Bhalla

Lenskart gets funding of $95 million from global investment firm KKR

PTI

This banking tech startup is the newest Indian unicorn with a $1.45 billion valuation

BI India Bureau

Flipkart CEO Kalyan Krishnamurthy places his bets on home services startup UrbanClap

Sanchita Dash

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