Delivery Hero is reportedly planning to make a major investment in Indian business Foodpanda India from the recently raised $435 Mn funding round led by South African Internet and media conglomerate Naspers.
Also, Amazon infused $15.5 Mn in its Indian B2B wholesale marketplace, Amazon Wholesale India Pvt Ltd. The funds were routed through Amazon Inc. and its Singapore-based subsidiary Amazon Corporate Holdings Pvt. Ltd, as per recent filings made with the Registrar of Companies.
Additionally, Softbank has also purchased the founders’ Kunal Bahl and Rohit Bansal’s shares, landing at a total of 47.5% shareholding in Snapdeal. The merger is expected to take place through a share swap and SoftBank is likely to get upto two board seats in merged entity.
In another development, the investment arm of Wipro Chairman Azim Premji, Premji Invest has raised questions on the interests of minority stakeholders in Snapdeal. Premji Invest sent a letter to the Snapdeal board, seeking clarity on the plans going forward.
This week 12 startups raised about $215 Mn in funding altogether. (Calculations are based on the startups that disclosed their funding amounts)
Startup Fundings Of The Week
ItzCash: US-headquartered Ebix Inc invested $123 Mn in ItzCash at a valuation of $150 Mn, against 80% stake in the company. With the newly raised funds, ItzCash aims to foray into areas such as credit, insurance, healthcare and investments to accelerate growth momentum going forward.