Gurugram-based foodtech unicorn Zomato has raised $40 million funding led by US-based private investors Glade Brook. This fund raise is reported to be a part of a larger $1 billion round Zomato is raising from existing investor Ant Financials and new investors. The filings suggest that Zomato closed this fund raise on Tuesday. The reported valuation of Zomato is at $2 billion. In October 2018, the foodtech company had raised additional funding of $210 million led by Ant Financials.
3One4 Capital launches new fund
One of the fastest growing VC firms in India, 3One4 Capital has launched Continuum I, a fund with a target corpus of Rs 350 crore ($50 million). It completed its first close for commitments of Rs 150 crore. The fund will focus on investing in a curated selection of opportunities from the 3one4 Capital portfolio during the growth stages of these companies. With the final close of this new fund and other initiatives in the pipeline, 3one4 Capital will manage a combined corpus of Rs 750 crore.
OYO reportedly set to enter the US
Hospitality 'unicorn' OYO is reportedly all set to enter the US budget hotel market, having opened an office in Dallas, and testing a property in Austin, Texas. Media reports suggest that the startup plans to add around 2,000 hotels in different states this year if everything works according to plan. Paytm founder Vijay Shekhar Sharma tweeted his congratulations to OYO Founder Ritesh Agarwal on the company entering the US hotel market.
Japanese startups exploring India market
Japanese startups have started to make a beeline to India to explore new partnerships, customers and technology talent. In Bengaluru for the first time, 10 Japanese startups across different domains, showcased their expertise. This was in front of a select audience consisting of venture capitalists, Indian entrepreneurs and others in the startup ecosystem. The Japanese startups made their pitches in front of VCs, which included the likes of Axilor and Keiretsu Forum.
FourKites raises $50 million
Chicago and Chennai-based predictive supply chain startup FourKites raised funding of $50 million its Series C round on Wednesday. The company will use this capital to fuel the growth of its real-time visibility network for shippers and carriers with the Engineering Centre of Excellence in Chennai. The round included follow-on financing from existing investors August Capital, Bain Capital Ventures, CEAS Investments and Hyde Park Angels.
Reddit to raise funding
Reddit, also known as ‘the front page of the internet’, is nearing a $3 billion valuation following its upcoming fund-raise. The social news aggregator is looking to raise funding of $150 million in Series D led by China’s Tencent. This fund infusion comes nearly two years after it raised $200 million of funding from Andreessen Horowitz, Sequoia Capital and others in July 2017. The American social news and entertainment website was then valued at $1.8 billion.