Manish Singh, Author at TechCrunch

Zepto, a 10-minute delivery app, raises $665M at $3.6B valuation

Manish Singh — Fri, 21 Jun 2024 05:30:33 +0000

Zepto, an Indian quick commerce startup, has more than doubled its valuation to $3.6 billion in a new funding round of $665 million.

General Catalyst merges with Venture Highway in India push

Manish Singh — Thu, 20 Jun 2024 03:30:00 +0000

General Catalyst is linking up with Venture Highway to make a deeper push into India, where it plans to invest over $500 million in coming years.

Can quick commerce leapfrog e-commerce in India?

Manish Singh — Mon, 17 Jun 2024 22:01:00 +0000

Even as quick commerce startups are retreating, consolidating or shutting down in many parts of the world, the model is showing encouraging signs in India. Consumers in urban cities are embracing the convenience of having groceries delivered to their doorstep in just 10 minutes. The companies making those deliveries — Blinkit, Zepto and Swiggy’s Instamart […]

India’s Oyo, once valued at $10B, finalizes new funding at $2.5B valuation

Manish Singh — Mon, 17 Jun 2024 02:17:03 +0000

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 […]

Court halts Byju’s second rights issue as $200M fundraise falters

Manish Singh — Thu, 13 Jun 2024 12:07:19 +0000

An Indian court has restrained Byju's from proceeding with its second rights issue amid allegations of oppression and mismanagement by its shareholders.

India’s 360 One acquires mutual fund app ET Money for $44M

Manish Singh — Wed, 12 Jun 2024 16:53:23 +0000

India’s largest wealth manager focused on ultra-high-net-worth individuals, 360 One WAM, has agreed to acquire popular Indian mutual fund investment app ET Money for about $44 million. Earlier called IIFL Wealth Management, 360 One disclosed (PDF) the deal in a stock exchange filing Wednesday evening. The move marks 360 One’s foray into the fast-growing wealth […]

BlackRock has slashed the value of stake in Byju’s, once worth $22B, to zero

Manish Singh — Fri, 07 Jun 2024 18:30:00 +0000

HSBC and BlackRock estimate that the Indian edtech giant Byju's, once valued at $22 billion, is now worth nothing.

Amazon buys Indian video streaming service MX Player

Manish Singh — Thu, 06 Jun 2024 08:19:02 +0000

Amazon has agreed to acquire key assets of Indian video streaming service MX Player from the local media powerhouse Times Internet, the latest step by the e-commerce giant to make its services and brand popular in smaller cities and towns in the key overseas market. The two firms reached a definitive agreement for the deal […]

Modi-led coalition’s election win signals policy continuity in India — and spending cuts

Manish Singh — Wed, 05 Jun 2024 02:28:27 +0000

The National Democratic Alliance (NDA) has emerged victorious in India’s 2024 general election, but with a smaller majority compared to 2019. According to post-election analysis by Goldman Sachs, JPMorgan, CLSA, UBS, Bernstein and Citi, this slimmer mandate may push the government — known for transforming India into a global manufacturing powerhouse and making investments in […]

Temasek, Fidelity buy $200M stake in Lenskart at $5B valuation

Manish Singh — Mon, 03 Jun 2024 07:31:03 +0000

Temasek has previously invested in Lenskart, and this new funding follows a $500 million investment by the Abu Dhabi Investment Authority last year.

Stripe curbs its India ambitions over regulatory situation

Manish Singh — Fri, 31 May 2024 10:45:07 +0000

Stripe, the world’s most valuable fintech startup, said on Friday that it will temporarily move to an invite-only model for new account sign-ups in India, calling the move “a tough decision” as it navigates the country’s evolving regulatory landscape. In a statement posted on its website, Stripe said businesses in India will no longer be […]

Ambani’s Reliance fires opening salvo in fintech battle, launches JioFinance app

Manish Singh — Thu, 30 May 2024 11:42:10 +0000

With JioFinance, the Indian tycoon Mukesh Ambani is making his boldest consumer-facing move yet into financial services.

Avendus, India’s top venture adviser, confirms it’s looking to raise a $350M fund

Manish Singh — Wed, 29 May 2024 02:03:20 +0000

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, […]

MARS doubles down on India’s Infra.Market with new $50M investment

Manish Singh — Tue, 28 May 2024 07:03:52 +0000

Infra.Market, an Indian startup that helps construction and real estate firms procure materials, has raised $50M from MARS Unicorn Fund.

Adani looks to battle Reliance, Walmart in India’s e-commerce, payments race, report says

Manish Singh — Tue, 28 May 2024 04:45:51 +0000

India's Adani Group is in discussions to venture into digital payments and e-commerce, according to a report.

Google invests $350M in Indian e-commerce giant Flipkart

Manish Singh — Fri, 24 May 2024 11:57:38 +0000

Google is investing nearly $350 million in Flipkart, becoming the latest high-profile name to back the Walmart-owned Indian e-commerce startup. The Android maker will also provide Flipkart with cloud offerings as part of the deal, the Bengaluru-headquartered startup said in a brief statement Friday. The Google investment is part of a nearly $1 billion funding […]

Jio Financial unit to buy $4.32B of telecom gear from Reliance Retail

Manish Singh — Fri, 24 May 2024 05:43:38 +0000

A Jio Financial unit plans to purchase customer premises equipment and telecom gear worth $4.32 billion from Reliance Retail.

Oyo, once valued at $10 billion, shelves IPO plans for second time

Manish Singh — Wed, 22 May 2024 09:15:28 +0000

India's Oyo, once valued at $10 billion, has withdrawn its IPO application from the market regulator for the second time.

Paytm warns of job cuts as losses swell after RBI clampdown

Manish Singh — Wed, 22 May 2024 04:17:37 +0000

Paytm, a leading financial services firm in India, said its net loss widened in the fourth quarter as it grappled with a regulatory clampdown.

Pine Labs gets Singapore court approval to shift base to India

Manish Singh — Mon, 20 May 2024 06:09:59 +0000

A Singapore High Court has effectively approved Pine Labs' request to shift its operations to India.