Manish Singh

Oyo, the Indian budget-hotel chain startup, is finalizing a fresh fundraise of about $100 million to $125 million that slashes its valuation to $2.5 billion, two people familiar with the matter told TechCrunch.  That’s a steep decline in the Gurgaon-headquartered startup’s value, which was worth $10 billion in 2019. The startup, struggling to raise from institutional investors, has been aggressively pitching high-net-worth individuals in recent months. “We genuinely feel that this asset makes a lot

Byju’s is having a hard time raising the full $200 million from its rights issues that its founder had previously claimed was oversubscribed, sources familiar with the matter told TechCrunch. And now India’s National Company Law Tribunal has restrained the company from proceeding with its second rights issue amid allegations of oppression and mismanagement by its shareholders. The Tribunal on Thursday also ordered the company to maintain status quo on its existing shareholdings until a

BlackRock, an investor in Byju’s, estimates that its stake of Indian edtech giant, once valued at $22 billion, is now worth nothing. The write-down in its estimations, disclosed in an SEC filing, makes Byju’s one of the most spectacular startup slides in recent memory. BlackRock’s disclosure for the period ending March this year follows a rough year for the Bengaluru-based startup, which was India’s most valuable startup not long ago. Byju’s struggled to meet its

In a research note, HSBC estimates that the Indian edtech giant Byju’s, once valued at $22 billion, is now worth nothing. The write-down in its estimation makes Byju’s one of the most spectacular startup slides in recent memory. It follows a very rough year for the Bengaluru-based startup, which was India’s most valuable not long ago. Byju’s struggled to meet its financial reporting deadlines last year, ultimately falling short of its target by over 50%

Avendus, the top investment bank for venture deals in India, confirmed on Wednesday it is looking to raise up to $350 million for its new private equity fund.  The new fund, called Future Leaders Fund III, will enable the Mumbai-headquartered firm to write larger checks and maintain a meaningful position in the startups it backs, said its managing partner Ritesh Chandra in an interview with TechCrunch. TechCrunch reported in early April that Avendus was putting together

Meesho, a leading e-commerce startup in India with about 150 million transacting users, has secured $275 million in a new funding round, the company disclosed in a securities filing. The new funding is part of a larger financing round that is likely to include secondary transactions and balloon to over $500 million, people familiar with the matter told TechCrunch.  The Bengaluru-headquartered startup, which operates a social commerce platform, is being valued at about $3.9 billion

Oyo, the Indian budget-hotel chain startup, is negotiating with investors to raise a new round of funding that could cut the Indian firm’s valuation to $3 billion or lower, three sources familiar with the matter told TechCrunch. The startup is engaging with investors, including Malaysia’s sovereign wealth fund Khazanah, for the new funding, the sources said, requesting anonymity as the matter is private. The new funding round is likely to see some secondary transactions as

Innovaccer, a health tech startup that aggregates patient data across systems and care settings, is in advanced stages of talks with investors to raise as much as $250 million in a new financing round, three sources familiar with the matter told TechCrunch. The deliberation for the new funding round is ongoing, and the current talks propose a value of between $2.5 billion and $3 billion for the nine-year-old company, the sources said, requesting anonymity, as

Ola has let go its chief executive, Hemant Bakshi, merely four months after appointing him to the post, and is cutting about 180 additional jobs, a source familiar with the matter told TechCrunch. The move from the Indian ride-hailing startup is aimed at “improving profitability,” its founder and chairman, Bhavish Aggarwal, told employees in an email on Monday that was seen by TechCrunch. The company is undergoing a “restructuring exercise” to gear up for its

Goldman Sachs said in a report late Thursday that Indian food delivery giant Zomato’s quick commerce arm Blinkit is now more valuable than its core food delivery business, as per the bank’s sum-of-the-parts analysis. The investment bank estimates Blinkit’s implied value at 119 Indian rupees per share ($1.43) or about $13 billion, while Zomato’s food delivery business is valued at Rs 98 per share. Goldman previously pegged Blinkit’s valuation at $2 billion in March 2023.