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Delhivery Raises $413 Million From Softbank Vision Fund

26Mar By reutersNo Comments

FUNDING

Delhivery Raises $413 Million From Softbank Vision Fund

MUMBAI: Delhi based logistics service provider Delhivery has raised fresh investment of $413 million in a financing round led by the Softbank Vision Fund, they said in a joint statement on Sunday. Carlyle and Fosun, both existing investors in the e-commerce business, also participated in the latest financing round. Delhivery was founded in 2011 as a food delivery company but has since shifted to providing a full suite of logistics services in more than 1,800 cities. "We will be scaling up our newer warehousing and freight services through large investments in infrastructure and technology and global partnerships, in addition to improving the reach, reliability and efficiency of our transportation operations and sharing these benefits with our customers and partners," Delhivery CEO...

After CCI Clearance, SoftBank Buys 22.44% stake in Indian Logistics Firm Delhivery

28Feb By AnkitaNo Comments

ACQUISITION

After CCI Clearance, SoftBank Buys 22.44% stake in Indian Logistics Firm Delhivery

The Competition Commission of India (CCI) on Wednesday said it has approved the acquisition of 22.44 per cent stake in logistics firm Delhivery by SoftBank Vision Fund. The deal is worth over Rs 3,200 crore, according to reports. According to a filing to the CCI, the deal involves subscription of 22.44 per cent of the total share capital of Delhivery and consequently “potential subsequent acquisition of shares at a price and on such terms to be agreed.” The Japanese company will invest in the logistics firm through its holding company SVF Doorbell. In a tweet, the CCI said it “approves acquisition of 22.44 per cent of the total share capital of Delhivery Pvt Ltd (on fully diluted basis) by SVF Doorbell (Cayman) Ltd“. SoftBank Vision Fund is a venture capital fund focused on ...

11Jan By PriyankaNo Comments

FUNDING

Ola Raises $74 million Funding, Pips Oyo as a 2nd Most valuable startup in India

India's leading taxi aggregator Ola raises $74 million funding from existing investor Steadview Capital. After this funding round Ola pips OYO a hotel aggregator startup and become India's No.2 most valuable startups. Ola is now only behind digital payments service firm Paytm (One97 Communications Pvt. Ltd). After $74 million in fresh funding round, Ola, India’s leading cab-hailing service valued at $5.7 billion. Oyo Rooms, which was valued at nearly $5 billion after it raised $1 Billion from SoftBank Group Corp & Others. Before got acquired by Walmart last year, the leading e-commerce giant Flipkart was the most-valuable Indian startup (close to $16 billion) for the longest time. Last January, Ola had raised $1.1 billion in fresh capital at a valuation of $3.5-4 bill...

WeWork Raises $2 billion after SoftBank cuts $20 billion Planned Investment

9Jan By AdityaNo Comments

FUNDING

WeWork Raises $2 billion after SoftBank cuts $20 billion Planned Investment

World's leading co-working space provider WeWork raises $2 billion from Softbank in a deal that is billions of dollars below what WeWork hoped. The initial amount that WeWork and Softbank discussed was $20 billion funding to fund the growth of the company and buy out existing shareholders. With the recent funding round, Softbank Group Corp’s invested total $10.4 billion in WeWork including $4.4 billion in 2017 and $6 billion in 2018 and 2019. The initial plan was to invest $10 billion in SoftBank money to fund WeWork’s growth plans and use another $10 billion to buy out employees and other existing investors, according to a person familiar with the matter. That proposal would have given SoftBank majority control of WeWork. Reducing the investment leaves WeWork with $1 billio...

22Nov By Gauri SinghNo Comments

INDIA

Japan’s SoftBank Vision Fund to Open its India Office

Japan’s investment major Softbank investment Advisers, which invests through the SoftBank Vision Fund, is looking forward to deepening its play in India’s technology ecosystem, and thus, the company has announced plans to open an office in Mumbai in India. For this purpose, the company has even roped in Sumer Juneja to lead the same. Norwest Venture Partners’ Sumer Juneja would be joining SoftBank to lead its India investments. Juneja is joining the company after a 9-year stint at Norwest Venture Partners. He has also led and invested in deals like those in Swiggy, Komli Media and Quikr. “I’m delighted to welcome Sumer to the team; he will play a pivotal role in working with our existing portfolio companies as well as sourcing new opportunities on the ground. India represents an enor...

Tech Investor SoftBank Group Invests $450 million in Delhivery

21Nov By Gauri SinghNo Comments

BUSINESS

Tech Investor SoftBank Group Invests $450 million in Delhivery

The global technology investor SoftBank Group Corp is in its final stage of investing a huge amount of $450 million in Delhivery, which is India's largest e-commerce-centric logistics company by revenue. This particular deal is expected to value the company at over $1 billion, entering into the unicorn club. Through its Vision Fund, SoftBank is set to invest an estimated $350 million (about Rs 2,500 crore) in fresh capital into the company. Along with this, the Tokyo-headquartered strategic holding investor is expected to undertake secondary transactions, estimated at $100 million, to further bump up its stake in the company. As part of secondary exits, the company’s founders are likely to abolish their ownership substantially. SoftBank will emerge as the single largest shareholde...

SoftBank Corp Invests in the Co-working Giant WeWork Yet Again

14Nov By Gauri SinghNo Comments

BUSINESS

SoftBank Corp Invests in the Co-working Giant WeWork Yet Again

SoftBank Corp has reportedly invested another $3 billion in financing into the co-working major WeWork. The deal comes in the form of a warrant, allowing SoftBank to pay $3 billion for the opportunity to buy shares before September 2019 at a price of $110 or higher. This will value WeWork at $42 billion minimum. In August, SoftBank Corp invested $1 billion in WeWork in the form of a convertible note. Following this deal, SoftBank will pay WeWork $1.5 billion on January 15, 2019 and another $1.5 billion on April 15. SoftBank is far and away WeWork’s biggest investor, with SoftBank Vision Fund having poured $4.4 billion into the company just last year. More than physical land, WeWork wants to be the central connective tissue for work in general. The company often strikes deals with ...

Paytm Launches QR code-based ‘PayPay’ Service in Japan with SoftBank, Yahoo Japan

22Oct By Gauri SinghNo Comments

News

Paytm Launches QR code-based ‘PayPay’ Service in Japan with SoftBank, Yahoo Japan

Paytm has launched a QR-based smartphone payment settlement service in Japan called PayPay in collaboration with SoftBank and Yahoo Japan Corporation. Paytm had formed a joint venture called ‘PayPay’ corporation with SoftBank and Yahoo Japan, and its first offering is a smartphone-based settlement service that allows users to store money from a bank account in their “PayPay” wallet and make payments with it. Paytm said it is built around its QRtech which it has deployed in India to allow customers to make offline payments. “...PayPay was developed with teams from three different countries working together, it is a true testimony for us and our industry-leading solutions that can be easily ported to suit the needs of any country or market,” Madhur Deora, CFO, Paytm said. Paytm is a...

Saudi Arabia Releases $200 billion in SoftBank Solar Project

1Oct By Gauri SinghNo Comments

MIDDLE EAST, News

Saudi Arabia Releases $200 billion in SoftBank Solar Project

Saudi Arabia has put on hold an amount of $200 billion under a plan with SoftBank Group Corp. with the purpose of building the largest solar-power-generation project in the world. As of now, nobody is actively working on the project. However, the Saudi kingdom is working up a broader, much more practical strategy to boost renewable energy. This is expected to be announced in late October. The CEO of SoftBank, Masayoshi Son had also announced his plans to invest in creating the world’s biggest solar power project in Saudi Arabia in March. The project visualized by him was expected to have the capacity to produce up to 200 gigawatts (GW) by 2030. However, reaching out to SoftBank was found unsuccessful as the company did not respond to any of the comments.

A Car-Sharing Platform Raises $300 Million from SoftBank

22Aug By Gauri SinghNo Comments

FUNDING

A Car-Sharing Platform Raises $300 Million from SoftBank

San Francisco-based Getaround, a car-sharing platform that provides instant and keyless car sharing has raised an amount of $300 million in the latest Series D funding round. The particular funding round was led by Japan's SoftBank Group. The other investors that were a part of this funding round included Toyota Motor and some other existing investors. The funds raised by the company are being planned to use in the expansion process in areas of North America and around the world. Also, a part of the funds will be utilized to develop partnerships with automakers. “We are confident in our product, playbook, and team,” Sam Zaid, Getaround founder and CEO said. “We look forward to leading the growth of next-generation carsharing.” Founded in 2013, Getaround has gradually grown its netw...

Softbank Net Profit Surges Record 50 Fold After Flipkart Acquisition

7Aug By PriyankaNo Comments

BUSINESS

Softbank Net Profit Surges Record 50 Fold After Flipkart Acquisition

Masayoshi Son led Japanese leading tech company SoftBank net profit soared more than 50-fold from a year earlier to 313.7 billion yen (USD 2.8 billion) in the latest quarter thanks to Flipkart acquisition and coworking space Wework growth in India. Last year in the same quarter, SoftBank's profits slumped to 5.5 billion yen due to its investment in Chinese e-commerce company Alibaba. Sales in the April-June quarter edged up 4 percent to 2.3 trillion yen. The value of the fund's stake in Flipkart increased 164.3 billion yen after Walmart agreed in May to buy it. Sales were flat at SoftBank's U.S. mobile provider Sprint, dropping 0.4 percent to USD 8.1 billion. The Tokyo-based company realized a one-time gain of 161.3 billion yen from the sale of a large share in the Chinese o...

Byju’s Plans To Raise $250 Million From Softbank & Others

30Jul By AnkitaNo Comments

FUNDING

Byju’s Plans To Raise $250 Million From Softbank & Others

Education Technology and Training expertise platform Byju’s is in talks with SoftBank and different traders to lift $200-250 million to fund its international growth plans. In the recent talks, the deal is yet to be finalised. Byju’s is in news to lift about $200-250 million from SoftBank and others. They’re nonetheless discussing the factors. This can assist catapult their worldwide growth. If the deal is successful it would possibly value the company at around $2 billion as stated by Byju's. “We by no means touch upon hypothesis,” mentioned a SoftBank spokesperson to an electronic mail question from ET, whereas a spokesperson of Byju’s mentioned that they had “no feedback” to supply, mentioned Byju's. Byju’s-The Learning App, which is the education technology pla...