Tiger Global News

stock broking startup Upstox has bought back 5% of Ratan Tata's shareholding in the company. In a statement, the company said that Tata got a 23,000% return on his initial investment. Tata continues to hold 95% of his original stake in the company. Back in 2016, he had acquired a 1.33% stake in the Tiger Global-backed startup. According to data from Tracxn, after an equity round that Upstox undertook in September 2022, Tata was left with 0.9% stake in the company. This share buyback happened at a $3.5 billion valuation which the startup had achieved back in 2022.

NCLT) gave its approval for the merger of Bengaluru-based Slice with Guwahati-headquartered North East Small Finance Bank. This will pave the way for the final merger of the two entities, after the Reserve Bank of India (RBI)gave the green signal to the deal back in October 2023. The NCLT, Guwahati bench, has sanctioned the scheme of arrangement and amalgamation involving Garagepreneurs Internet Private Limited, Quadrillion Finance Private Limited, Intergalactory Foundry Private Limited, RGVN (North East) Microfinance Limited, and North East Small Finance Bank Limited, said the Tiger Global-backed startup in a statement issued on Monday. While Garagepreneurs is the registered name for Slice, Quadrillion Finance is the in-house non-banking finance company (NBFC) that Slice ran. RGVN (North East) Microfinance Limited is the microfinance business housed within North East Small Finance Bank.

investors who took positions in FirstCry, Ola Electric and Unicommerce at the right time, with their investments set to become multibaggers when these new-economy startups go public next week. Investors such as SoftBank, Tiger Global, Mahindra & Mahindra and Matrix Partners India will see the value of their holdings in these firms surge anywhere between three times to ten times as they hit the public markets, according to calculations made by ET basis information available in the IPO prospectuses of these companies.

Mint. Sheth can afford to say that. He has the distinction of scaling two unicorns—Elance (renamed as Upwork), and Gupshup—across two different geographies.

Star Wars franchise, a farmboy who became the galaxy’s greatest Jedi knight. Or perhaps it wasn’t. But one thing was clear: Skywalker Investment Advisors was looking to hitch its wagon to a star.

Jupiter’s non-banking finance company (NBFC) business, housed under a separate entity named Amica Finance Pvt Ltd, has raised Rs 20 crore in its maiden equity funding round from investors, including Peak XV Partners and Matrix Partners. The funding round was led by Peak XV Partners, with an infusion of Rs 5.2 crore, followed by Matrix Partners, with a Rs 4.3 crore investment. Other investors in the round include QED Fund, Greyhound Capital, Tiger Global, Beenext, Mirae Asset Venture Investments, and Global Founders Capital, among others. These investors have also backed Jupiter.

Oxyzo Financial Services, the lending arm of B2B commerce unicorn OfBusiness, has reported Rs 903 crore in operating revenue for FY24, up 59% from Rs 569 crore a year ago. The Gurugram-based company’s net profit rose 47% to Rs 290 crore, from Rs 197 crore in FY23.

Infra.Market on Friday said it has sold a minority stake in its subsidiary RDC Concrete for $20 million (about Rs 166 crore) in a round led by Zerodha co-founder Nikhil Kamath. The round saw participation from investors such as Capri Global Family Office, Verity Knowledge Solutions CEO Sumeet Kanwar and Abhijeet Pai-led Wear Steels.

BENGALURU:Construction materials platform Infra.Market has raised an additional $50 million from Mars Unicorn Fund, a joint venture of global asset manager Liquidity Group and Japanese bank MUFG.The fund had previously invested $50 million in Infra.Market in 2022. The latest investment is in the Singapore entity of Infra.Market.

SiftHub, an artificial intelligence-enabled platform for enterprise sales teams, on Wednesday said it has raised $5.5 million in a seed round of funding led by Matrix Partners India and Blume Ventures. The San Francisco-headquartered startup was founded by Manisha Raisinghani, cofounder and former chief technology officer of Tiger Global Management-backed software-as-a-service (SaaS) startup LogiNext Solutions. ET had first reported about the deal talks in June 2023.

Urban Company said in a report. As per the firm’s H2 2023 Earnings Index, service partners who provide over 30 services per month earned a monthly net income of Rs 33,469.

1. CoinSwitch: CoinSwitch is the leading cryptocurrency trading app in India, with over 2 crore users. The platform is backed by some of the world’s leading investors, including a16z, Tiger Global, and Sequoia Capital India.

They are among the most recognizable of a generation of Silicon Valley investors who are getting out of venture capital at the end of a lucrative 15-year upswing for the industry.

Online seafood firm Captain Fresh has raised $25 million in a funding round led by UK government-backed British International Investment (BII) and Andhra Pradesh-based Nekkanti Seafoods Group. The funding was part of a larger $48 million extended funding round at a $500 million valuation, out of which $20 million had already been raised by the firm in September last year. That round had been led by Japan-based SBI Investment and Evolvence Capital, and had also seen participation from existing investors like Tiger Global, Prosus, Accel and Matrix Partners India.

₹28-55) or a packet of milk ( ₹27-106). Products beyond grocery can help increase the average order value on the platform. A Manyavar kurta set, for instance, sells at ₹2,999.

Quiver Quantitative — The leadership dynamics at Tiger Global Management, a prominent hedge fund, are undergoing significant changes. Chase Coleman, the firm's founder, is retaking control of the $34 billion venture-capital arm after a period of heightened scrutiny and client dissatisfaction under Scott Shleifer's leadership. This transition marks a strategic pivot for Tiger Global, which has been a formidable player in startup investing.

Slice is in talks for a $100 million equity funding round, according to three people in the know. Early conversations have happened with existing backers, but the leadership is looking to get an external investor to lead the round. The talks are still at an early stage and, given the overall funding winter, might take a few months to close, the people said.

MUMBAI : An arm of Japan’s SoftBank Group is slated to sell a 1.1% stake in food-delivery company Zomato Ltd on 8 December for an estimated Rs1,127.5 crore, or $135 million, as per the term sheet of the block deal. The floor price of the deal is set at Rs120.5 per share, as per the deal terms reviewed by Mint. That’s a discount of about 1.1% to Zomato’s Thursday closing price of Rs121.80 on BSE.

Mint. Alipay’s share sale follows a partial stake sale by Softbank Group in the food delivery aggregator last month where the Japanese investor sold 1.1% stake for ₹1,200 crore. Alipay is selling 296 million shares in the online food delivery company and expects to raise ₹3290 crore or ($395 million).

news aggregator InShorts saw its losses balloon by over a third during the year ended March 2023 to Rs 309.75 crore, from Rs 231.87 crore in FY22, as it spent significantly more during the period. The company saw its operating revenue rise 8.7% year-on-year during FY23. The Noida-based company’s revenue from operations rose to Rs 180.90 crore in FY23, compared to Rs 166.37 crore a year earlier, according to its financial statements filed with the Registrar of Companies (RoC).

cofounders of ecommerce platform Dealshare, have left the firm which has seen multiple rounds of job cuts and a business restructuring this year, people in the know told ET. While Rao “stepped down” from his role of chief executive in July and was supposed to work with the board for hiring a new CEO, he has now left Dealshare even as the company has yet to name his successor, several people aware of the matter said. Bora, who was chief operating officer, has also moved on from the company which is now shifting its non-tech functions to Gurgaon.