Ecosystem Weekly | 19th Jul ’20
Google Invests $4.5 Bn In Reliance Jio For 7.73%Reliance Industries’ digital venture Jio Platforms has raised INR 33,737 Cr ($4.5 Bn) from global tech giant Google for 7.73% equity stake, Mukesh Ambani announced at Reliance’s 43rd Annual General Meeting (AGM). Google is investing at an equity valuation of INR 4.36 Lakh Cr.
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Flipkart raises $1.2B from Walmart at $24.9B valuation amidst COVID-19 pandemic
India’s leading e-commerce marketplace Flipkart on Tuesday announced a fund infusion of $1.2 billion, at a valuation of $24.9 billion, led by its parent company Walmart.
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Startup News Snippets
M&A News
Market Pulse
- Singapore and Bengaluru-based air retailing and payments platform Mystifly has raised $3 Mn in pre-Series B funding from Recruit Co.
- Bengaluru-based budget hotel chain Treebo has raised $3 Mn in Series D funding from Bertelsmann SE & Co, Matrix Partners India, and SAIF Partners India.
- Mumbai-based early-stage payments startup goDutch has raised $2 Mn in seed round funding from Matrix India, Y Combinator, Global Founders Capital, Soma Capital, and VentureSouq
- Mumbai-based cloud kitchen startup Yumlane has raised $1 Mn in pre-Series A funding led by Jetty Ventures
- Delhi-based home-grown healthcare venture capital fund HealthQuad has raised $69 Mn in an initial funding round for its second fund, aimed at supporting disruptive, technology-based and innovation-driven businesses that transform healthcare in India
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