KreditBee Enters Unicorn Club with $280 Mn Series E Round

From Left: Vivek Veda, Co-founder and CFO; Madhusudan Ekambaram, Co-founder and CEO; Karthikeyan K, Co-founder and CTO.

KreditBee, India’s leading digital lending platform has raised USD 280 million in its Series E funding round at a post-money valuation of USD 1.5 billion, marking its entry into the unicorn club and making it the first unicorn of FY27. The round was led by Motilal Oswal Alternates, Hornbill Capital, and MUFG-backed Dragon Funds, with participation from WhiteOak Capital, A.P. Moller Holding, and existing investors including Premji Invest and Advent International. Co-founded by Madhusudan E., Karthikeyan Krishnaswamy and Vivek Veda in 2016, KreditBee delivers credit through its RBI-registered NBFC, KrazyBee Services Limited, along with co-lending partnership with over 10 financial institutions.

This fundraise comes as the company continues to strengthen its business and technology capabilities ahead of its next phase of growth and potential public market plans. The fresh capital will be deployed to expand KreditBee’s lending portfolio, deepen its presence across key markets, and further strengthen its technology platform. As part of its next phase of growth, the company plans to scale its artificial intelligence (AI) capabilities to drive sharper risk assessment, improve credit penetration, and enable more personalised financial offerings across customer segments.

Speaking on the development, Madhusudan E, Co-founder and CEO, KreditBee, said: “This fundraise marks an important milestone in our growth journey. The strong interest from new investors, along with continued participation from our existing investors reflects deep confidence in our business model and our mission to make credit accessible to millions of Indians. We are increasingly embedding AI into the core of our lending stack to enhance underwriting precision, strengthen risk controls, and deliver a faster, more intuitive customer experience.”

KreditBee has over 230 million app downloads and a strong base of more than 18 million unique loan customers. The platform has facilitated over 60 million loans across India and manages assets under management (AUM) of $1.5 billion as of March 2026. The platform offers a range of loan products, including personal loans, business loans, loans against property (LAP), and two-wheeler loans. In addition, KreditBee provides value-added services such as credit report solutions and UPI-based offerings. The company has built strong traction across metros as well as Tier-2 and Tier-3 cities, reflecting the growing adoption of digital credit solutions.

About KreditBee:

KreditBee, India’s leading online credit solution provider, caters to a vast and growing user base, predominantly young professionals, including both salaried employees and self-employed individuals. The platform has over 230 million total app downloads, and has registered a strong base of over 200 million users. With over 18 million unique loan customers and 60 million loans disbursed, KreditBee offers a wide range of financial products including personal loans, business loans, loans against property (LAP), and two-wheeler loans, tailored to meet diverse customer needs.

With a strong focus on digital, tech-led and data-centric KYC processes, KreditBee aims to bridge the financial inclusion gap across varied demographic segments in the country. The platform is a Series E funded entity, backed by Premji Invest, Motilal Oswal Alternates, Advent International, TPG NewQuest, Mitsubishi UFJ Financial Group (including MUFG-backed Dragon Funds), Hornbill Capital, Mirae Asset Venture Investments, A.P. Moller Holding, Unitary Funds, WhiteOak Capital, ICICI Bank, and others.

The company serves credit and personal finance requirements through its in-house RBI-registered NBFC, KrazyBee Services Limited (a Systemically Important NBFC), along with co-lending partnerships with over 10 reputed financial institutions.

Unicorn Startups Backed by Ratan Tata in Their Early Years

Ratan Tata, the former chairman of Tata Sons, has been a significant figure in the Indian startup ecosystem. His investments, particularly in unicorn startups, have illustrated his commitment to nurturing innovation and entrepreneurship in India.

Over the years, he had became a beacon for budding entrepreneurs, offering not just financial support but also mentorship and guidance. This article discusses the various aspects of Ratan Tata's investment ventures into unicorn startups and their broader impact on the Indian economy.

Origin of Ratan Tata's Investments

Ratan Tata's foray into venture capital began during his tenure as chairman of the Tata Group. Seeing the potential for tech and innovation in India, he started investing in promising startups. His investments were motivated by a desire to support young entrepreneurs and to drive technological advancement in the country. The establishment of the Tata Trusts facilitated his ability to make these investments, providing a structured approach to funding dynamic new ventures.

Tata has invested in over 50 startups through his personal firm, RNT Associates, and UC-RNT, a fund he established with the University of California. He has also provided mentorship and insights to the startups he has invested in.

Unicorn startups, defined as privately held companies valued at over $1 billion, play a crucial role in India's economic landscape. They drive innovation, create jobs, and attract foreign investment, significantly contributing to the GDP. The rapid growth of unicorns in India has also inspired a culture of entrepreneurship, encouraging more individuals to pursue their business ideas. Ratan Tata's involvement has not only validated these startups but has also highlighted their potential in the global marketplace.

List of Unicorn Startups Backed by Ratan Tata

1. Ola Cabs: One of India's leading ride-hailing services.

Ratan Tata invested in Ola Cabs in 2015. His relationship with Ola began earlier, in 2008, when he was the guest speaker at Bhavish Aggarwal's (Ola's co-founder) convocation at IIT Bombay. Inspired by Tata's words on serving the country, Aggarwal reached out to Tata in 2015 to seek investment for Ola.

Tata not only invested in Ola but also took a personal interest in the company's journey. He spent a full day with Ola's team in Bengaluru in 2016, showing immense curiosity and grace.

2. Ola Electric: A major player in the electric vehicle market.

Ratan Tata invested in Ola Electric in 2017. His investment and guidance were pivotal in the establishment of Ola Electric, which focuses on electric vehicles (EVs).

Ratan Tata's passion for EVs and his support played a significant role in inspiring Ola Electric's founder, Bhavish Aggarwal, to venture into the electric vehicle space.

It's a great example of how mentorship and belief in innovation can shape the success of a startup.

3. Paytm: A leading digital payments and financial services company.

Ratan Tata invested in Paytm in 2015. His investment came at a crucial time when Paytm was transitioning from a mobile recharge platform to a comprehensive digital payments and financial services company.

Ratan Tata's support not only provided much-needed capital but also added credibility and visibility to Paytm, helping it grow into one of India's leading fintech companies.

4. Lenskart: An online retailer of eyewear and accessories.

Ratan Tata invested in Lenskart in April 2016. His investment was part of his broader strategy to support innovative startups in India. Tata's backing not only provided crucial capital but also added significant credibility to Lenskart, helping it grow into one of the leading online eyewear retailers in the country.

5. Urban Company: A platform for home services.

Ratan Tata invested in Urban Company in 2015. His investment came at a crucial time when Urban Company was expanding its platform for local services, such as home cleaning, beauty treatments, and handyman services.

Ratan Tata's support not only provided much-needed capital but also added significant credibility to Urban Company, helping it grow into one of the leading service platforms in India.

6. Upstox: A financial services platform for trading and investments.

Ratan Tata invested in Upstox in 2016. He initially acquired a 1.33% stake in the company.

Upstox, founded in 2009 by Ravi Kumar, Raghu Kumar, Shrini Viswanath, and Kavitha Subramanian, is a discount brokerage platform. Tata's investment has been highly successful, with Upstox's recent valuation at $3.5 billion, delivering a return of around 23,000% on his initial investment.

Last week, Upstox bought back 5% of Tata's stake in a buyback deal, providing Tata with a 10x return on his investment while he still retains 95% of his original stake.

7. FirstCry: An e-commerce platform for baby products.

Ratan Tata invested in FirstCry in 2016. He acquired a 0.02% stake in Brainbees Solutions, the parent company of FirstCry, for Rs 66 lakh. His investment has been highly successful, and FirstCry has grown into one of India's leading online retailers for baby products.

8. CarDekho: A leading players in India's used car retail industry. 

Ratan Tata made a strategic investment in CarDekho in 2015. In that year, this marked his fourth venture into the Indian startup ecosystem, following his previous investments in Snapdeal, BlueStone, and UrbanLadder. While the exact financial details of the investment were kept confidential, it was a significant endorsement of CarDekho's potential and the burgeoning Indian automotive market.

In 2017, CarDekho achieved the unicorn status, following a significant funding round. The company's rapid growth and success in the Indian automotive market contributed to its high valuation.

Ratan Tata's investment not only provided a much-needed financial boost but also lent credibility and prestige to the company. His involvement attracted further attention from other investors and customers, contributing to CarDekho's rapid growth and expansion.

9. Moglix: India's leading online store for industrial tools & equipment.

Ratan Tata invested in Moglix in 2016, recognizing the potential to digitize and streamline the B2B supply chain in India. His investment was part of a Series E funding round that raised $120 million, valuing Moglix at $1 billion. This made Moglix one of the 13 Indian startups to achieve unicorn status in 2021.

The company was the first industrial B2B commerce platform in the manufacturing space in India to become a unicorn.

Tracxn: A data analytics and research platform for startups.

Ratan Tata invested in Tracxn in 2015. His investment was part of his broader strategy to support innovative startups in India. Tracxn, a data analytics and research platform for startups, has benefited greatly from Tata's support and guidance. It is to be noted that Tracxn is not yet a unicorn startup. 

Key Sectors of Investment

Ratan Tata has shown a keen interest in several key sectors through his startup investments. Predominantly, he has focused on technology, e-commerce, and consumer services. These sectors are integral to India's digital transformation and economic growth.

By investing in these areas, he supported startups that address contemporary challenges faced by consumers and businesses alike.

Impact of Ratan Tata’s Backing on Startup Success

The backing of Ratan Tata has proven to be a game changer for many startups. His reputation and industry connections provide a level of credibility that can significantly enhance a startup's visibility. Startups associated with Tata benefit from his extensive experience and networks, which facilitates partnerships and market access. This mentorship often translates into accelerated growth and broader operational strategies, setting them up for greater success.

How the Platform Fee Led the Zomato Founder To Become A Billionare

Deepinder Goyal, the founder and CEO of Zomato, recently joined the coveted billionaire club thanks to a sharp rally in the company's stock. Zomato's stock surged over 300% from its low of ₹73 in July 2023. As of now, Zomato's market capitalization exceeds ₹1.8 trillion, making Goyal India's wealthiest professional manager with a net worth exceeding ₹8,300 crore. He holds 36.95 crore shares, representing a 4.24% stake in Zomato.

Interestingly, this milestone occurred shortly after Zomato and Swiggy increased their platform fees to ₹6 per order in key markets like Bengaluru and Delhi-NCR. The company's stock price reached a new peak of ₹232, contributing to its market cap crossing ₹2 trillion. Zomato's remarkable rise is attributed to the promising performance of its quick commerce division, Blinkit, which is expected to achieve EBITDA break-even by the first quarter of FY25. Goyal's journey from a middle-class background to leading a global food delivery brand is truly inspiring.

Zomato's impressive stock performance has been largely driven by Blinkit and the multiple increments in its platform fee.

Series of Events

Zomato reportedly raised its platform fee to ₹6 per order in metro cities. Interestingly, the Investors responded positively to this platform fee increase, reflecting "confidence in Zomato's business model" and growth prospects. The stock climbed 4% to reach an all-time high of ₹232 on the BSE. This made Zomato's market cap crossed ₹2 lakh crore ($2.394 billion) for the first time, and its shares hit a 52-week high (up 4% from the previous closing price) on the BSE.

Zomato had gradually increased its platform fee from ₹2 to ₹6 per order in select cities. Ironically, the investors feel that — the consistent adjustments signaled the company's commitment to revenue optimization.

Deepinder Goyal's Net Worth: With 36.95 crore shares of Zomato (around 4.24% holding), Deepinder Goyal's net worth has risen to more than ₹8,424 crore, which is approximately US $1.01 billion, making him a billionaire at the age of 41.

Notably, Zomato processes an impressive number of orders daily, and to give an idea about how an increase of platform fee can churn out revenue vis-a-vis profits for Zomato like a tap of a button,  the Goyal promoted platform delivered a staggering 647 million orders across 800 cities in India, in the financial year 2022-2023 (FY23). That translates to over 1,200 orders delivered every minute! These orders served approximately 58 million customers, with a total value of ₹263 billion. Quite a feast, isn't it?

Overall, Zomato's strategic fee adjustments, market sentiment, and growth projections collectively drove its share price upward.

Analysts anticipate strong revenue growth for Zomato in the June quarter. Factors such as continued expansion in food delivery and quick commerce (qCommerce) businesses contribute to this positive outlook.

Before this recent increase, Zomato had gradually raised its platform fee from ₹2 in August 2023 to ₹5 per order in April 2024. The company suspended its inter-city food delivery service, 'Intercity Legends,' during this period.

Zomato's impressive growth and strategic decisions have propelled it into the billionaire league, reflecting the impact of platform fees and market dynamics.

With Zomato frequently increasing the platform fees, this has sparked mixed reactions among its customers. One Bengaluru user, Sumukh Rao, expressed frustration on social media. He mentioned that the reduced free delivery range (now 7 km) and the increased platform fee (₹6 per order) prompted him to stop using the app altogether. Another user, Jay Prashanth, echoed the sentiment, emphasizing that it's not just about the money but the feeling of being price-gouged. Zomato's goal is to enhance profitability, but it remains to be seen how users adapt to this change.

Apart from the platform fee, Zomato also charges for delivery, GST, and restaurant fees. Additionally, there's a packing charge that restaurants/ shopkeepers typically don't impose.

As per few media outlets, Zomato apparently plans to evaluate the results of this trial and gather user feedback before making long-term decisions about the fee structure. Balancing revenue generation with maintaining a positive user experience remains crucial.

50% Reduction in Time to Reach Unicorn Status - BCG & TIE Report States

Boston Consulting Group (BCG) in association with Times Bridge and the Delhi Chapter of The Indus Entrepreneurs (TiE Delhi-NCR) today, unveiled a report titled, ‘Road to Hyperscaling in India’.

Key Pointers from the Report

• The startup ecosystem in India has seen massive growth over the years, producing ~58,000 startups
• 8 key themes that have helped late-stage startups in their hyperscaling journey
• 110 unicorns in India by 2022: an indicator for India's growing startup maturity, though the overall impact is far wider and deeper
• 40,000 active startups in 2022, indicating rising aspirations among Indian entrepreneurs
• 130 Bn raised since 2014 by Indian start-ups; growing faster than China and USA (49% YoY growth)
• 65% share of this funding attracted the by top 3 sectors: Fintech, eCommerce, and Enterprise tech
• 50% reduction in time to reach unicorn status, indicating faster scaling and a stronger belief in future growth potential

The entrepreneurship and startup landscape in India has witnessed breakout growth over the last few years, transforming India into the third largest startup ecosystem in the world, just behind USA and China. Last few years witnessed the rise of 100+ unicorns – a valuation milestone, which has often been celebrated by founders, investors, and media. The impact, however, has been much deeper and broader, with 40K+ active start-ups till FY22.

In the last decade several late-stage companies managed to ride the coveted ‘hockey stick curve’, while many more failed, while trying to grow too fast too soon. The report shares learnings from hyperscaling journeys of successful late-stage startups in India. In the context of the evolving macroeconomic environment and the resulting funding winter, the report also provides a framework for emerging startups to align their priorities and hyperscaling aspirations to the new realities.

Key highlights from the successful late-stage start-up journeys

Leveraging conversations with leading startup founders and investors, the report shares stories of successful Indian and global late-stage startups along eight key themes, that helped them hyperscale in India. While there is no one-size-fits-all pathway, the leading founders and investors have uncovered strategies and tactics from setting up the right business model to expanding the target customer groups and harmonizing the unit economics objectives with hypergrowth. For instance, some stories and examples covered in the report include:

• How Meesho deployed a creative customer acquisition strategy via their reseller business model to target the less trusting and less tech-savvy tier 2/3 city consumers. While many Indian startups struggled to replicate big city success in small towns and had to scale back, Meesho successfully rose with 70% share from Tier 2/3 towns.
• For Policy Bazaar, finding and nurturing mini-founders within organization was key to unlocking scale and creating leverage for the founders. This allowed them to not just setup and grow new businesses (e.g. Paisa Bazaar), but also build a culture of entrepreneurship, with different business unit owners driving growth and constructive experimentation within their own business scope.
• For the SaaS startup - Icertis, strategic partnerships with top-tier software and professional services players unlock a rapid pace of growth, which they would have never been able to drive alone. Those relationships enabled the start-up to leverage well-established B2B sales ecosystems quickly and, at the same time, add immense value to their partners’ portfolios of offerings.
• Many Indian start-ups have attempted but struggled to scale up businesses successfully in other major international markets. Report also shares inspirations from global leading startups – such as Uber and Airbnb, who managed to successfully adapt their business models to suit the specific local needs of Indian customers. While driving localization, they focused on not just leveraging existing strong global tech platform, but also exported successful local innovations for India back into the global platforms and playbooks.
• …and many more similar stories that emerging startup founders could learn from!

The report not only highlights the success stories of these start-ups but also cautions against the potential pitfalls at the time of hyperscaling. In euphoria of scaling up, one may attempt to grow too fast too soon, loosen governance and controls, and miss scaling critical tenets that helped them succeed in the first place.

The path forward

Overall, while picking up learnings from the good-to-great journey of startups in the last decade, one must adapt them to the new market realities and own context as well. Venture funding for startups suffered a 40% drop in 2022. No new unicorn emerged in last 6 months, a first in India in the last xx years. To add to that, only 18 out of 100 start-ups are profitable in India, as per 2021-22 estimates. Silicon Valley Bank failure and associated events have further added to the volatility and uncertainty in the near term. The tendency to ‘scale fast’ by burning cash always backfires, if done without clear sight of long-term customer value and unit economics. Survival and extension of financial runway must the top priority for startups in these times.

There is however a silver lining. Many India focused funds are sitting on large amount of unallocated dry powder to be deployed at an opportune moment. The younger promising start-ups will continue to attract capital, and so would the well-run late-stage start-ups. Founder may have to be more flexible on valuation in the near term though, as well as be open to alternative sources of funds, such as venture debt. As a leading venture capitalist expressed “This is the best time to build your business if you have sorted out your basics. The worst thing you can do is to want to keep to your old valuation because of ego and lose your market share.”

Sidharth Madaan, a Partner at BCG, opined, “Time and again, we have seen the well-run start-ups emerge significantly stronger with reduced competition out of a crisis. In the current volatile environment as well, start-ups with stronger business models, unit economics, customer retention, and sharper growth focus will be not just be able to stay afloat, but also consolidate their lead and emerge as leaders on the other side of the crisis.”

“How ephemeral can time be. When we started our interviews and research for this report late last year, funds were aplenty, valuations were skyrocketing, and growth was the only objective in one’s mind. And within a few months, while growth is still the holy grail, other parameters like strong business models, customer retention and above all, unit economics, have assumed centre stage. Those start-ups that will be able to juggle all of these without dropping any balls through this period of crisis are the ones that will come out stronger and as leaders from the current volatile environment,” says Rajiv Gupta, MD, Senior Partner and Leads Technology, Media and Telecom for BCG India.

Rohan Joseph, VP, Head of Global Investments and Corporate at Times Bridge, said, "India’s entrepreneurship and technology landscape has seen enormous growth in recent years, making it the world’s third-largest startup ecosystem. This report showcases the innovative strategies deployed by leading startups and global companies as they scale up in India’s dynamic business climate. At Times Bridge, we enable purpose-driven companies to enter India, and this report reaffirms our conviction in the market’s potential for entrepreneurs across all sectors."

“The Indian Startups story has entered a new era with a focus on creating scalable yet sustainable startups with the clear path on profitability. Hyperscaling is integral to this journey.

For over 2 decades at TiE Delhi-NCR we have witnessed the rise and rise of the startup ecosystem in India and have played a key role in its development. The report shows our commitment to fostering the spirit of entrepreneurship for the new economy," said Alok Mittal, Co-Founder & CEO, Indifi Tech and Board Member TiE Delhi – NCR.

The founders and leaders need to ensure survival as well as keep one eye on the future. While managing burn will be critical on one end, one must capture opportunities smartly to invest and grow in the long term.

A copy of the report can be downloaded here.

About Boston Consulting Group

Boston Consulting Group partners with leaders in business and society to tackle their most important challenges and capture their greatest opportunities. BCG was the pioneer in business strategy when it was founded in 1963. Today, we work closely with clients to embrace a transformational approach aimed at benefiting all stakeholders—empowering organizations to grow, build sustainable competitive advantage, and drive positive societal impact.

Our diverse, global teams bring deep industry and functional expertise and a range of perspectives that question the status quo and spark change. BCG delivers solutions through leading-edge management consulting, technology and design, and corporate and digital ventures. We work in a uniquely collaborative model across the firm and throughout all levels of the client organization, fueled by the goal of helping our clients thrive and enabling them to make the world a better place.

About TiE Delhi-NCR:

The Indus Entrepreneurs (TiE) is a global organization fostering entrepreneurship through mentoring, networking and education. TiE was founded in 1992 in Silicon Valley by a group of successful entrepreneurs, corporate executives, & senior professionals. There are currently 15,000 members, including over 3,000 charter members, spread across a vast network of 58 Chapters in 14 countries.

TiE Delhi-NCR is among the most active & vibrant chapters across the vast TiE network. In the last two decades, it has continuously taken the lead in creating an increasingly positive ecosystem for entrepreneurs and investors. With a strong mentor support base, various events throughout the year covering various aspects of entrepreneurship and multiple opportunities to showcase and network, it has emerged as one of the biggest platforms supporting entrepreneurship. TiE Delhi-NCR conducts a wide range of programs to help entrepreneurs, these include TiEcon Delhi, India Internet Day , Startup Expo, TiE Institute, TiE Young Entrepreneurs along with Special Interest Groups (SIGs) across sectors.

For more details about TiEcon and registration: https://www.tiecon-delhi.org/. For more info about TiE Delhi-NCR: https://delhi.tie.org/

About Times Bridge:

Times bridge is the global investments and venture arm of The Times Group, India’s oldest and largest media and digital company, whose mission is to ally with the world’s most purposeful companies to enable their entry, scale, and impact across India. Its current portfolio includes Airbnb, Canva, Coursera, Girl Effect, Headspace, Houzz, Luminary, Malaria No More, MUBI, Smule, Stack Overflow, Uber, and Wattpad, among others. By providing unmatched market leadership to its select global partners, Times Bridge accelerates growth and immersion across the Indian subcontinent for leaders and companies who believe in winning in and learning from India. For more information, visit https://timesbridge.com

Blockchain Network 5ire Turns Unicorn with Latest $100 Mn Series A Funding at Valuation of $1.5 Bn

L to R- Prateek Dwivedi - Co-founder & CMO, Pratik Gauri - Co-founder & CEO and Vilma Mattila - Co-founder & CBO

• 5ire, has received funding from UK-based conglomerate SRAM & MRAM to become the fastest growing blockchain unicorn in India and the only sustainable blockchain unicorn in the world.
• Brainchild of India-origin founders, Pratik Gauri and Prateek Dwivedi

5ire, a fifth generation level 1 blockchain network and the world’s first and only sustainable blockchain, today announced that it has raised $100 million in Series A funding from UK-based conglomerate SRAM & MRAM. This investment makes 5ire the fastest growing blockchain unicorn in India and the only sustainable blockchain unicorn in the world, valued at $1.5 billion. 5ire was founded by Indian-origin entrepreneurs, Pratik Gauri and Prateek Dwivedi, along with web3 financier Vilma Mattila, in August 2021.

The funds raised will be used for business expansion and extending 5ire’s footprint across three continents including Asia, North America and Europe, with India as the hub of operations and core area of focus. 5ire will continue to invest in strengthening its blockchain further and work towards ensuring this decentralised technology benefits a larger base globally. Additionally, 5ire aims to hire the best talent in the industry across functions like product, engineering, marketing etc.

5ire had earlier raised a funding of $21 million in its seed round at a valuation of $110 million with participation from both private and institutional investors like Alphabit, Marshland Capital, Launchpool Labs, Moonrock Capital, and amongst many other investors.

Speaking on the occasion, Dr Sailesh Lachu Hiranandani, Chairman of the SRAM & MRAM group, said, “We have great confidence in moving forward with investments in sustainable technologies. As a scientist, I have always believed in finding better ways to do things, and 5ire is committed to finding solutions for the 17 UN Sustainability Development Goals. We are assured in the abilities of the leadership team at 5ire and wish them all the very best.”

Pratik Gauri, CEO and Founder of 5ire said, “We are on a mission to embed sustainability into blockchain and shift the current paradigm from ‘for-profit’ to ‘for-benefit’. The 5ire team has worked round-the-clock to develop a platform that combines both technology and processes for the benefit of humankind. Becoming the world’s first and only sustainable unicorn born out of India, in just 11 months, is testimony that we are on the right path. We are humbled by the trust shown in 5ire by the SRAM & MRAM group and thrilled to find a partner who also wants to promote the transition of the world from the 4th Industrial Revolution to the 5th Industrial Revolution.”

5ire is a blockchain ecosystem that brings forth Sustainability, Technology & Innovation to build the 5th industrial revolution (5IR). The mission of the 5ire ecosystem is to embed the for-benefit paradigm at the heart of blockchain, by highly incentivizing practices that align with the United Nations Sustainable Development Goals (SDGs), therefore facilitating the transition from the 4IR to 5IR. 5ire empowers decentralized autonomous organizations (DAOs) and working groups to help accelerate the implementation of the UN’s 17 SDG goals. It assures openness, unity of purpose, and inclusivity. Thus, shaping the ethics of business and collaborations toward sustainability while providing a cross-chain environment as well as advanced governance and rewarding mechanisms for participants.

5ire is a blockchain ecosystem that focuses on sustainability, technology and innovation to build the 5th industrial revolution (5IR). Founded by blockchain proponents Pratik Gauri, Prateek Dwivedi and Vilma Mattila in August 2021, the missions of the 5ire ecosystem are to embed a for-benefit paradigm at the heart of blockchain, highly incentivise practices that align with the United Nations Sustainable Development Goals (SDGs), facilitate the transition from the 4IR to 5IR, and accelerate the implementation of the UN 2030 Agenda for Sustainable Development. The company’s primary offering is 5ireChain, a first layer, sustainability-driven 5th generation blockchain that ensures adherence to the philosophy of 5IR, creating a net positive impact on the planet and service humanity. For further information, visit its website at https://www.5ire.org .

About SRAM & MRAM Group:

SRAM & MRAM Group is the brainchild of Dr. Sailesh Lachu Hiranandani, and founded in 1995. Chairman Dr. Sailesh Lachu Hiranandani, holds a Ph.D in Financial Management from UK, is a visionary with a steadfast background in Financial and Risk management in Hedge Funds and Forex Managements. His career started with commodity trading in India and Cambodia and gradually entered FX hedging and rollovers from Tokyo, Hongkong and Singapore. During this time, the world currency markets were rapidly fluctuating and he wanted a reliable system to manage the USD against GBP, EURO and JPY. This led to his acquiring considerable skills in both Financial and the Information Technology market.

Assisted by an able team of Information Technology and Forex associates, he set up what is today, after two decades, a global conglomerate with 8 international alliances, 10 companies,5 continents, 35+ locations, 300+ employees with a sales turnaround of USD 800 Million (FY 2017-2018). The corporation is headquartered in Edinburgh, United Kingdom with branch offices in Cambodia, South Africa, Indonesia, Malaysia, Bahrain, Georgia, India and Bangladesh. For further information, please visit https://srammram.com.

Nexus backed Hasura Becomes 1st Open-Source-based Unicorn from India; Raises $100 Mn Series C at $1 Bn Valuation

(L-R) Tanmai & Rajoshi

Hasura Announces $100M in Series C Funding at a $1B Valuation to Make GraphQL Available to Everyone

Greenoaks-led round will be used to expand R&D and go-to-market activities for GraphQL innovation leader

GraphQL innovation leader Hasura today announced that it has secured $100M in funding in a round led by Greenoaks with participation from existing investors Nexus Venture Partners, Lightspeed Venture Partners and Vertex Ventures. The Series C round brings the total capital raised by Hasura to $136.5 million and the company’s valuation to $1 billion. 

Hasura plans to use the funding to accelerate research and development and expand go-to-market activities globally for the company’s GraphQL Engine, which makes it fast and easy for even those with zero GraphQL expertise to compose a GraphQL API from existing APIs and databases. Hasura has been downloaded more than 400M times and has earned more than 25,000 GitHub stars since its introduction in 2018.

“There are few better signs of a powerful developer experience than enthusiastic adoption. And on this count, there aren’t many companies like Hasura,” said Neil Shah, partner at Greenoaks. “Since the launch of their GraphQL engine in 2018, Hasura has witnessed explosive uptake across countless organizations, from grassroots open source projects, to some of the largest companies in the world. The common thread is substantial improvements in developer productivity and decreased time to market for mission-critical applications. Now, Hasura Cloud has taken this a step further, truly democratizing GraphQL, and letting anyone access their data with speed and simplicity. We are thrilled to partner with Hasura as they become a core primitive for building cloud-native applications."

Hasura is designed to make web application development faster than ever before by eliminating bottlenecks to data access for frontend and fullstack developers. The platform cuts down the time and niche expertise required to build GraphQL APIs for data access by automating the repetitive work involved in mapping models to APIs with common access patterns like pagination, filtering, joining, setting up authorization rules, and optimizing performance.

With operational data increasingly distributed among multiple sources and developers consuming data in insecure and unauthorized compute environments, Hasura provides data APIs that are able to connect to multiple services and data sources, embed domain-specific authorization logic, and provide the necessary security and performance/concurrency.

“This funding enables Hasura to greatly increase our innovation velocity, which in turn allows our rapidly-expanding user base to deliver software even faster,” said Hasura CEO Tanmai Gopal. “Over the last few years, we’ve worked closely with our users and customers to address a massive gap in delivering and consuming data via an API standard that developers love – GraphQL. With this funding round, our investors and the Hasura team are doubling down on our vision to solve data access and unlock the next decade of developer productivity. We’re going to be addressing the needs of our users by adding support for their favorite data systems much faster. The Hasura GraphQL Engine lets developers of all types, regardless of their GraphQL experience, start building GraphQL APIs without delay. We look forward to seeing what amazing things they build next using Hasura!”

For more information about, and to connect more closely with Hasura, join the Hasura monthly community call here or register to attend HasuraCon’22, being held June 28-30, 2022.

About Hasura

Hasura is helping to build the modern world of globally relevant, data-driven applications and APIs. Hasura’s range of data access solutions helps organizations accelerate product delivery by instantly connecting data and services to applications with GraphQL APIs. For more information, go to: https://hasura.io or follow @HasuraHQ on Twitter.

India Hits Record Number of $1 Billion Startups

Unicorns may be mythical beasts in the animal kingdom but in Indian business, they are becoming more and more common. The unicorn here is not a fabled horse with a horn on its head but refers to a specific type of company. To those unaware, a unicorn is a start-up company which surpasses a $1 billion valuation. The term was coined in 2013 by venture capitalist Aileen Lee as it refers to the statistical rarity of this happening.

Start-up companies are notoriously difficult to succeed. Even turning a profit is an achievement but it is nothing short of extraordinary for a start-up to reach $1 billion. The start-up industry in India has had its ups and downs but the last few years have seen a marked increase in the number of unicorn companies: from 3 in 2014 to 14 in 2018, according to CB Insights.

India now sits third in the table of countries with the most start-up unicorn companies behind powerhouses the United States and China. The newest Indian start-up to join the list is Oyo Rooms, a hotel chain which surpassed the fabled $1 billion mark for funding. The company which was started in just 2013 by a then 19-year-old Ritesh Agarwal received the funding from the Japanese SoftBank Vision Fund and has become the largest hospitality company in the country.



But Oyo Rooms is just one of a number of Indian companies to achieve this incredible feat in the last few years. Why is this happening? China and the United States are expected to be at the top of the list of countries creating unicorns considering their economic clout but why India? Let’s take a look at some of the reasons why.

Internet Usage

India is getting more and more addicted to the internet. The country now has over 450 million internet users and that number is only increasing thanks to initiatives like discount mobile data plans. That is aided by the ever-growing list of smartphone users in the country. According to the Hindustan Times, India has 400 million smartphone users and that number is expected to increase to 700 million within five years.

The largest sales spike comes for phones priced lower than $150 (Rs 10,000) and a number of mobile phone companies are now actively looking towards this market.

“Features such as full-screen displays, dual-cameras, biometric security and support for Artificial Intelligence (AI) are beginning to make in-roads to the mid-range. They will become widespread over the next few years,” said Tarun Pathak, Associate Director at Counterpoint Research.

Choices

Another key reason why Indian start-up culture is thriving is the incredible amount of choice available to the consumer. This desire to get to work and start up a company is not as common in other parts of the world. A recent study by Betway Casino asked people in the United Kingdom what they would do with £1 million. Just 5% of respondents said they would start a business, despite the small risk which would be involved.

India produces far more start-up companies and this allows the best companies and products to float to the top, eventually culminating in many of them becoming unicorns. Even something as simple as food delivery, Indians have a wide array of choice available to them including Zomato, Faaso’s, Swiggy and TastyKhana.

Addressing The Country’s Problems

One of the main reasons why India is producing more unicorns than ever is because these companies often address some of the country’s most desperate needs: education, logistics and accommodation. Just look at Byju Raveendran’s company, BYJU’s, an educational technology and online tutoring company. Many schools don’t have enough funding to hire teachers but the app has reached almost 1.7 million users who pay around $135 per year for access. BYJU’s is adding around 130,000 students each month.



“Think of the effort and the capital involved in building thousands of schools and training teachers,” Raveendran has said.

“A young population, increased spending power, and rapidly growing digital infrastructure are helping India-relevant models to scale quickly.”

That certainly seems to be the case. India’s start-up industry is notoriously unsteady. However, it seems as if things are going extremely well right now, even if it is just for a small handful of companies. These are the brands which have risen to the top from a wide array of competitors and are servicing an increasingly technological nation by addressing its needs. If Indian start-ups continue to do that then there is no reason why the number of unicorns won’t increase in the coming years.

Govt. Wants Billion Dollar Startups To List In India

The Finance Ministry of India has big, bright plans for the future of Indian startup industry and for this, it needs the help of current startup unicorns making wave in the Indian market.

According to Jayant Sinha, minister of state for finance, India's equity markets would get a real, big boost if unicorn firms like Flipkart etc. B agree to got listed on local bourses. He also further promised to make the process of raising funds easier if firms decide to get listed in India.

Speaking at the Start Up India workshop recently held in the capital, Sinha said, “If some of our unicorns are prepared to list in India, we will work with you to find out how to make it possible. SEBI has recently simplified listing norms, but more issues could be examined. Having companies like Inmobi and Sachin’s (Flipkart) list in the market would give a booster shot to our equities market."

Mr. Sinha further also questioned the preference of successful start-ups to relocate outside India and put forth a query if they would be interested in listing their businesses in India or other markets like Singapore and New York.

"One of the factors you would think of – if you would list at India is the largest listed Indian internet company is Info Edge, with a market capitalisation of $2 billion to $3 billion? Right now, for our market, to absorb a $25 billion valuation internet company is the question, added Sinha speaking on the matter.

According to Sinha, the solution to country's current account issues could be solved if companies like Flipkart decided to get listed, as this would result in attracting 5-10 billion dollars worth foreign capital.

However, Inmobi founder and CEO Naveen Tiwari thinks that Indian market is still not ready to absorb number of internet companies for another four-five years.

On the other hand, his Flipkart counterpart Sachin Bansal is all yes for the move. "We would love to raise funds in India from the market, because we are in India and the retail investors here would understand the value of our business better. India is our top choice," said Bansal in a statement to a national daily.

Giving his take on the issue at hand, Silicon Valley-based July Systems’ Indian origin CEO B.J. Arun sent a warning message to all his fellow entrepreneurs going for excessive funding. According to him, it is a bubble that would burst soon.

Mr. Sinha, who was himself a venture capitalist earlier, advised the new entrepreneurs not to burn up the funding they receive too fast as funding comes and funding goes and in the end, if you don’t have cash, it will be difficult.

Govt. Wants Billion Dollar Startups To List In India

The Finance Ministry of India has big, bright plans for the future of Indian startup industry and for this, it needs the help of current startup unicorns making wave in the Indian market.

According to Jayant Sinha, minister of state for finance, India's equity markets would get a real, big boost if unicorn firms like Flipkart etc. B agree to got listed on local bourses. He also further promised to make the process of raising funds easier if firms decide to get listed in India.

Speaking at the Start Up India workshop recently held in the capital, Sinha said, “If some of our unicorns are prepared to list in India, we will work with you to find out how to make it possible. SEBI has recently simplified listing norms, but more issues could be examined. Having companies like Inmobi and Sachin’s (Flipkart) list in the market would give a booster shot to our equities market."

Mr. Sinha further also questioned the preference of successful start-ups to relocate outside India and put forth a query if they would be interested in listing their businesses in India or other markets like Singapore and New York.

"One of the factors you would think of – if you would list at India is the largest listed Indian internet company is Info Edge, with a market capitalisation of $2 billion to $3 billion? Right now, for our market, to absorb a $25 billion valuation internet company is the question, added Sinha speaking on the matter.

According to Sinha, the solution to country's current account issues could be solved if companies like Flipkart decided to get listed, as this would result in attracting 5-10 billion dollars worth foreign capital.

However, Inmobi founder and CEO Naveen Tiwari thinks that Indian market is still not ready to absorb number of internet companies for another four-five years.

On the other hand, his Flipkart counterpart Sachin Bansal is all yes for the move. "We would love to raise funds in India from the market, because we are in India and the retail investors here would understand the value of our business better. India is our top choice," said Bansal in a statement to a national daily.

Giving his take on the issue at hand, Silicon Valley-based July Systems’ Indian origin CEO B.J. Arun sent a warning message to all his fellow entrepreneurs going for excessive funding. According to him, it is a bubble that would burst soon.

Mr. Sinha, who was himself a venture capitalist earlier, advised the new entrepreneurs not to burn up the funding they receive too fast as funding comes and funding goes and in the end, if you don’t have cash, it will be difficult.

2016's Updated Billion Dollar Club Of Indian Startup Ecosystem

India is home to a lot of startups, in fact, it ranks second in the number of startups. It comes second only to the US. We do not just boast about the quantity but also quality. India has a number of startups that are in the elite club or the "Unicorn Club" as some people refer to them. This is a club of startups that have crossed the billion dollar mark and are running smoothly. Here are a few prominent billion dollar startups in the country.

Flipkart

US $15 Billion

Location: Bangalore, India
Founded in 2007
CEO: Binny Bansal (co-founder)

Flipkart was the first e-commerce startup to be a part of the billion dollar club. With it 15 billion dollar evaluation, it stands alone at the peak of the mountain with no one to challenge it. Started in 2007 by two brother Sachin Bansal and Binny Bansal, this is one Indian startup that have left everyone far behind. They boast of their 30 million products spanning 70 different categories and their 8 million shipments a month. With now Binny being the CEO, we expect only great things from Flipkart in the future.

---

Snapdeal

US $5 Billion

Location: New Delhi
Founded in 2010
CEO: Kunal Bahl (co-founder)

Next in line, we have Snapdeal, which is trying to keep up with Flipkart with its evaluation of 5 billion dollars. It was started 6 years ago by Kunal Bahl and Rohit Bansal, and since then it has proven its worth. It displays around 10 million products across various categories and ships yo 5000 cities in India. Snapdeal was recently in the news for its latest round of funding where it raised 500 million dollars from Alibaba and Foxconn. This is one startup that can give serious competition to Flipkart in the coming years.

---

Ola (ANI Technologies)

US $5 Billion

[caption id="attachment_103228" align="aligncenter" width="700"] Image Credits - wsj.com[/caption]

Location: Mumbai
Founded in 2011
CEO: Bhavish Aggarwal (co-founder)

In the last couple of years on-demand taxi services have also come into limelight. All of us know about Ola, which started off with just taxi services and has now diversified into more areas. It was valued at around 5 billion dollars. For a company that was started in 2010 in a new sector, it has done really well. It was started by Bhavish Aggarwal and Ankit Bhatia with the aim of capturing this sector. They received their latest round of funding last year worth 500 million dollars from undisclosed investors.

---

InMobi

US $2.5 Billion

Location: Bangalore
Founded in 2007
CEO: Naveen Tewari (co-founder)

Founded in 2007 by Naveen Tewari, InMobi, earlier known as mKhoj, is a performance based mobile ad network backed by Softbank and Kleiner Perkins Caufield & Byers. Last year, InMobi become talk of the global advertising industry when it fixed one of the fundamental problems of mobile advertising as their new 'advertising OS Miip takes over from the intent based sales model to a discovery based model. InMobi also won a spot in MIT Technology Review's 50 most disruptive companies of 2013.

InMobi makes money by charging 40% of the fee advertisers pay to the mobile Internet sites. The company turned profitable for the first time in the December quarter last year.

---

Paytm/One97 communications

US $1.5 Billion

Location: New Delhi
Founded in 2001
CEO: Vijay Shekhar Sharma, founder

Another mobile commerce startup is Paytm which is still gaining popularity within the country. It is growing steadily with a recent evaluation of 2 billion dollars. The company has about a 100 million registered users. It started off as a platform offering mobile and DTH recharges but last year it entered the e-commerce platform as well. The parent company One97 sold $1 billion worth of goods and services on its Paytm commerce platform in 2015 and is aiming to reach $10 billion in sales volumes in two years.

---

Zomato

US $1 Billion

Location: New Delhi
Founded in 2008
CEO: Deepinder Goyal, co-founder

Moving on to another popular sector, which is Zomato's forte and it is doing extremely well with an evaluation of 1 billion dollars. The startup has grown colossally since its inception in 2008 by Founders Deepinder Goyal and Pankaj Chaddah. It has crossed the Indian border and has expanded to US and Australia as well. It has started online ordering and cashless payments as well.

---

Quikr

US $1 Billion

Location: Mumbai
Founded in 2005
CEO: Pranay Chulet, founder

Quikr is one startup that took classified advertising to the internet. Founded in 2008 by Pranay Chulet in 2008 it has reached an evaluation of 1.5 billion dollars. It is basically a platform for second-hand trading. As of 2013, it claims to have had around 12 million listings. It has expanded into real estate and the job market as well.

---

Shopclues

US $1 Billion

Location: Gurgaon
Founded in 2011
CEO: Sandeep Aggarwal (founder)

The most recent startup to join this Unicorn Club is Shopclues. It is a recent player in the e-commerce market and with its recent success, it has made it clear that it is here to stay. It has recently received funding of an undisclosed amount. The startup boasts of it 42 million visitors per year and 12,000 registered merchants. This recent entrant in the billion dollar club shows that the Indian e-commerce sector is now ready for the next level.

2016's Updated Billion Dollar Club Of Indian Startup Ecosystem

India is home to a lot of startups, in fact, it ranks second in the number of startups. It comes second only to the US. We do not just boast about the quantity but also quality. India has a number of startups that are in the elite club or the "Unicorn Club" as some people refer to them. This is a club of startups that have crossed the billion dollar mark and are running smoothly. Here are a few prominent billion dollar startups in the country.

Flipkart

US $15 Billion

Location: Bangalore, India
Founded in 2007
CEO: Binny Bansal (co-founder)

Flipkart was the first e-commerce startup to be a part of the billion dollar club. With it 15 billion dollar evaluation, it stands alone at the peak of the mountain with no one to challenge it. Started in 2007 by two brother Sachin Bansal and Binny Bansal, this is one Indian startup that have left everyone far behind. They boast of their 30 million products spanning 70 different categories and their 8 million shipments a month. With now Binny being the CEO, we expect only great things from Flipkart in the future.

---

Snapdeal

US $5 Billion

Location: New Delhi
Founded in 2010
CEO: Kunal Bahl (co-founder)

Next in line, we have Snapdeal, which is trying to keep up with Flipkart with its evaluation of 5 billion dollars. It was started 6 years ago by Kunal Bahl and Rohit Bansal, and since then it has proven its worth. It displays around 10 million products across various categories and ships yo 5000 cities in India. Snapdeal was recently in the news for its latest round of funding where it raised 500 million dollars from Alibaba and Foxconn. This is one startup that can give serious competition to Flipkart in the coming years.

---

Ola (ANI Technologies)

US $5 Billion

[caption id="attachment_103228" align="aligncenter" width="700"] Image Credits - wsj.com[/caption]

Location: Mumbai
Founded in 2011
CEO: Bhavish Aggarwal (co-founder)

In the last couple of years on-demand taxi services have also come into limelight. All of us know about Ola, which started off with just taxi services and has now diversified into more areas. It was valued at around 5 billion dollars. For a company that was started in 2010 in a new sector, it has done really well. It was started by Bhavish Aggarwal and Ankit Bhatia with the aim of capturing this sector. They received their latest round of funding last year worth 500 million dollars from undisclosed investors.

---

InMobi

US $2.5 Billion

Location: Bangalore
Founded in 2007
CEO: Naveen Tewari (co-founder)

Founded in 2007 by Naveen Tewari, InMobi, earlier known as mKhoj, is a performance based mobile ad network backed by Softbank and Kleiner Perkins Caufield & Byers. Last year, InMobi become talk of the global advertising industry when it fixed one of the fundamental problems of mobile advertising as their new 'advertising OS Miip takes over from the intent based sales model to a discovery based model. InMobi also won a spot in MIT Technology Review's 50 most disruptive companies of 2013.

InMobi makes money by charging 40% of the fee advertisers pay to the mobile Internet sites. The company turned profitable for the first time in the December quarter last year.

---

Paytm/One97 communications

US $1.5 Billion

Location: New Delhi
Founded in 2001
CEO: Vijay Shekhar Sharma, founder

Another mobile commerce startup is Paytm which is still gaining popularity within the country. It is growing steadily with a recent evaluation of 2 billion dollars. The company has about a 100 million registered users. It started off as a platform offering mobile and DTH recharges but last year it entered the e-commerce platform as well. The parent company One97 sold $1 billion worth of goods and services on its Paytm commerce platform in 2015 and is aiming to reach $10 billion in sales volumes in two years.

---

Zomato

US $1 Billion

Location: New Delhi
Founded in 2008
CEO: Deepinder Goyal, co-founder

Moving on to another popular sector, which is Zomato's forte and it is doing extremely well with an evaluation of 1 billion dollars. The startup has grown colossally since its inception in 2008 by Founders Deepinder Goyal and Pankaj Chaddah. It has crossed the Indian border and has expanded to US and Australia as well. It has started online ordering and cashless payments as well.

---

Quikr

US $1 Billion

Location: Mumbai
Founded in 2005
CEO: Pranay Chulet, founder

Quikr is one startup that took classified advertising to the internet. Founded in 2008 by Pranay Chulet in 2008 it has reached an evaluation of 1.5 billion dollars. It is basically a platform for second-hand trading. As of 2013, it claims to have had around 12 million listings. It has expanded into real estate and the job market as well.

---

Shopclues

US $1 Billion

Location: Gurgaon
Founded in 2011
CEO: Sandeep Aggarwal (founder)

The most recent startup to join this Unicorn Club is Shopclues. It is a recent player in the e-commerce market and with its recent success, it has made it clear that it is here to stay. It has recently received funding of an undisclosed amount. The startup boasts of it 42 million visitors per year and 12,000 registered merchants. This recent entrant in the billion dollar club shows that the Indian e-commerce sector is now ready for the next level.

Paytm To Get More Than $500 million From Alibaba & Temasek Holdings, May Become Fastest Billion Dollar Indian Startup

India's mobile commerce company Paytm may get more than $500 million from Chinese e-commerce giant Alibaba and Singapore-based Temasek Holdings as per reports by Economics Times. Moreover, if Paytm get this funding the startup may become one of the fastest Indian startups to get past the billion-dollar valuation mark.

As per reports, for making room for these new investors, Chairman and founder of One97 Communications Vijay Shekhar Sharma, is going to dilute his shares for the purpose and talks are at an advanced stage on one of the biggest fund-raising exercises by an Indian startup and an announcement is expected towards January-end that would value the Delhi-based Paytm at $1.5-1.9 billion.

Founded in 2011, with this investment, Paytm will become India's fastest startup to reach the $1 billion mark. Existing investor SAIF Partners will also participate in this funding round, to keep its stake at 40 percent. Speculations also states that Amazon and New York-based Tiger Global also showed interest in investing in Paytm.

Alibaba and Temasek have bid for a stake in the One97 Communications-owned company, which has grown manifold since its launch in 2011, the people cited above said. At least two investors will gain a 25-30% stake for $500 million, some of which will be used for strengthening mobile operations and adding customers.

Paytm was among the first ecommerce companies to move to a mobile-first strategy from an exclusively computer-based one, which is why it's so attractive to investors.

Recently, Paytm had announced its plans to foray into international markets, with pilot countries being Singapore and other South East Asian markets. It appointed crowd-funding website Milaap’s founder Sourabh Sharma to establish its presence in these geographies.

Zomato To Raise $200 Million, Will Enter Billion-Dollar Club by December

Zomato, the online restaurant discovery guide, has decided to hit the billion dollar plus valuation by December this year. In order to achieve its this goal, the company has already begun talks with a number of global strategic and private equity investors. The company will have to raise another 200 million dollars in order to hit the billion dollar mark by the year end.

According to sources, private equity firms like Tybourne Capital Management, which is a Hong Kong based hedge fund, Tiger Global and Steadview Capital have entered into discussions with the Gurgaon base Zomato. A couple of strategic investors are also in talks with the eight year old company but their names haven’t been disclosed yet.

Sequoia Capital, an existing investor, which was successful in raising around $530 million in its fourth India focused fund, has also decided to take part in the latest round of funding. The funding round could further reduce Info edge’s stake in the company. Info Edge is an early backer of the Gurgaon based company which still owns 50% of stakes in it.

If the fundraising is successful, it will be the biggest investment ever made by investors in an Indian non-retail, consumer retail venture. This fundraising will also leave behind the $90 million raised by Quikr in March this year.

The last round of funding which took place in November 2013, valued the eight year old company at $165 million. This year, the company is expected to end the year with revenues of Rs.100 crores or more. Flipkart, the Online retailer was successful in increasing its valuation from $ 2.6 billion to $ 7 billion in just two months between May and July this year.

If the Gurgaon based Online restaurant discovery guide is successful in achieving the $ 1 billion mark, it will make an entry into the elite club of digital startups who have been successful in reaching this crucial valuation milestone. As of now, just seven Indian startups enjoy a membership in the club, they are MakeMyTrip, InMobi, Flipkart, Mu Sigma, Snapdeal, Info Edge and JustDial. They all are valued more than $ 1billion.

A successful round of funding will also make the two founders of the company- Pankaj Chaddah and Deepinder Goyal- the new poster boys of startup boom and success in India. Both the founder currently own over 30% stakes in the company. The Gurgaon based Company is expected to use the money from the funds to make its way into the lucrative United States market  and compete with the likes of Open Table etc.

Zomato To Raise $200 Million, Will Enter Billion-Dollar Club by December

Zomato, the online restaurant discovery guide, has decided to hit the billion dollar plus valuation by December this year. In order to achieve its this goal, the company has already begun talks with a number of global strategic and private equity investors. The company will have to raise another 200 million dollars in order to hit the billion dollar mark by the year end.

According to sources, private equity firms like Tybourne Capital Management, which is a Hong Kong based hedge fund, Tiger Global and Steadview Capital have entered into discussions with the Gurgaon base Zomato. A couple of strategic investors are also in talks with the eight year old company but their names haven’t been disclosed yet.

Sequoia Capital, an existing investor, which was successful in raising around $530 million in its fourth India focused fund, has also decided to take part in the latest round of funding. The funding round could further reduce Info edge’s stake in the company. Info Edge is an early backer of the Gurgaon based company which still owns 50% of stakes in it.

If the fundraising is successful, it will be the biggest investment ever made by investors in an Indian non-retail, consumer retail venture. This fundraising will also leave behind the $90 million raised by Quikr in March this year.

The last round of funding which took place in November 2013, valued the eight year old company at $165 million. This year, the company is expected to end the year with revenues of Rs.100 crores or more. Flipkart, the Online retailer was successful in increasing its valuation from $ 2.6 billion to $ 7 billion in just two months between May and July this year.

If the Gurgaon based Online restaurant discovery guide is successful in achieving the $ 1 billion mark, it will make an entry into the elite club of digital startups who have been successful in reaching this crucial valuation milestone. As of now, just seven Indian startups enjoy a membership in the club, they are MakeMyTrip, InMobi, Flipkart, Mu Sigma, Snapdeal, Info Edge and JustDial. They all are valued more than $ 1billion.

A successful round of funding will also make the two founders of the company- Pankaj Chaddah and Deepinder Goyal- the new poster boys of startup boom and success in India. Both the founder currently own over 30% stakes in the company. The Gurgaon based Company is expected to use the money from the funds to make its way into the lucrative United States market  and compete with the likes of Open Table etc.