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Author: Manish Singh

Indian PM Narendra Modi’s reelection spells more frustration for US tech giants

Amazon and Walmart’s problems in India look set to continue after Narendra Modi, the biggest force to embrace the country’s politics in decades, led his Hindu nationalist Bharatiya Janata Party to a historic landslide re-election on Thursday, reaffirming his popularity in the eyes of the world’s largest democracy. The re-election, which gives Modi’s government another five years in pow...

Online grocery startup Grofers lands $200M led by SoftBank’s Vision Fund

Hot on the heels of Indian delivery startup BigBasket raising $150 million — at a unicorn valuation, no less — so its close rival Grofers has also pulled in capital after it announced a $200 million raise to battle its local competition and international giants Amazon and Walmart. The round is the largest in India’s online grocery sector to date, and it was led by SoftBank’s Visi...

India’s ride-hailing firm Ola is now in the credit card business, too

A day after India’s largest wallet app Paytm entered the credit cards business, local ride-hailing giant is following suit. Ola has inked a deal with state-run SBI bank and Visa to issue as many as 10 million credit cards in next three and a half years, it said today. The move will help Visa and SBI bank acquire more customers in India, where most transactions are still bandied out over cash. For ...

India’s Locus raises $22 million to expand its logistics management business

Locus, an Indian startup that uses AI to help businesses map out their logistics, has raised $22 million in Series B funding to expand its operations in international markets. The financing round for the four-year-old startup was led by Falcon Edge Capital and Tiger Global Management . Existing investors Exfinity Venture Partners and Blume Ventures also participated in the round. The startup has r...

India’s most popular services are becoming super apps

Truecaller, an app that helps users screen strangers and robocallers, will soon allow users in India, its largest market, to borrow up to a few hundred dollars in the nation. The crediting option will be the fourth feature the nine-year-old app adds to its service in the last two years. So far it has added to the service the ability to text, record phone calls and mobile payment features, some of ...

Uber begins trialing e-bikes and bicycles rides in India

Uber has partnered with bicycle sharing platform Yulu in India as it looks to grab a piece of the growing e-bikes market that is increasingly posing a challenge to taxi services in the nation. The San Francisco-headquartered firm, which is expected to go public later this week, said it will provide its users in Bengaluru with Yulu’s e-bikes and bicycles as part of a pilot. The announcement, financ...

India’s edtech startup CollegeDekho raises $8 million to connect students with colleges

Indian edtech startup CollegeDekho, which helps students connect with prospective colleges and keep track of exams, has raised $8 million in Series B round. The new financing round for the four-year-old Gurgaon-based startup was led by its parent company Girnarsoft Education and London-based private equity investor Man Capital, which also participated in the startup’s Series A round last year. Ruc...

Grocery startup BigBasket becomes Indian’s newest unicorn with new $150M investment

India has a new unicorn after BigBasket, a startup that deliveries groceries and perishables across the country, raised $150 million for its fight against rivals Walmart’s Flipkart, Amazon and hyperlocal startups Swiggy and Dunzo. The new financing round — Series F — was led by Mirae Asset-Naver Asia Growth Fund, UK’s CDC Group, and Alibaba, BigBasket said on Monday. The closing of the...

BlackBuck raises $150 million to digitize freight and logistics across India

India’s trucking system has a big inefficiency problem that continues to drag the economy. BlackBuck, one of the handful of logistics startups that is trying to overhaul this system, just raised $150 million in a Series D round to further pursue its mission. The new round was led by Goldman Sachs Investment Partners and Accel at a valuation just shy of $1 billion, according to a person familiar wi...

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