Unicorn Status | Pixr8 News

It's just been three months when Food Delivery Platform Zomato raised $200 Mn from Ant Financials and now it is gearing to raise fresh $200 Mn from Alibaba. Interestingly, Zomato's arch-rival Swiggy is too nearing to acquire unicorn status as it is reportedly raising $200 million from Yuri Milner’s DST Global. While Swiggy has declined to reveal any information regarding its proposed funding, Zomato too has chosen to remain tightlipped. However, one thing is confirmed that with players eyeing a big chunk of the pie, the Indian food tech industry is surely going to witness a heated battle in the times ahead. This year has been really eventful for food tech where in March, Swiggy raised $100 million from Naspers, while Zomato raised $200 million from Ant Financials in February. Whil...

Softbank, the Japanese conglomerate owned by Masayoshi Son, recently agreed to sell its stakes in Flipkart for $4 bn following an investment of $2.5 Bn in mid-2017 for its 20% stakes in the e-commerce company. However, the company is very well focused and determined to bet on other companies that will remain profitable and growing. Therefore urging Indian hospitality service, OYO to get new investors on board, following which the Japanese giant will participate in a funding round reported to be worth $500-700 Mn. A report from MoneyControl claimed that “many Chinese investors are interested in hospitality as a sector.” The report also stated that the valuation of OYO will be subject to appreciation from the new investors. However, a new funding round is most likely to mark the entry ...

Tag: Unicorn Status

Zomato vs Swiggy- The Much Heated ‘Unicorn’ Battle over $2.5 Bn Worth Foodtech Industry

SoftBank Urges OYO to Seek New Investors For $500-700 Mn Funding Round