India’s food delivery startup Zomato hits market cap of US$13.4B after IPO
The story: Indian food delivery startup Zomato has become the first internet unicorn in the region to go public, hitting a market cap of US$13.4 billion.
More about the story: “This tremendous response to our IPO gives us the confidence that the world is full of investors who appreciate the magnitude of investments we are making and take a long-term view of our business,” said Deepinder Goyal, co-founder of Zomato, in a blog post.
“We are going to relentlessly focus on ten years out and beyond and are not going to alter our course for short-term profits at the cost of the long-term success of the company,” he added.
About Zomato: Launched in 2008, Zomato is a food ordering and delivery, restaurant booking, and review platform. As of now, the platform is present across 525 Indian cities with over 32.1 million monthly active users.
Global startup ecosystem unites to raise US$10M for Oxygen for Indonesia
The story: Startups, investors, and volunteer organisations across the globe have united to raise US$10 million to fund the Oxygen for Indonesia initiative.
More about the story: To supply these concentrators, the coalition of Oxygen for Indonesia is raising funds from all over the world. Local, regional, and global regional venture capital firms have been calling on their investor network to pitch in.
Those that have joined include East Ventures, Sequoia India, Intudo, Goventures, Golden Gate Ventures, AC ventures, Jungle Ventures, Asia Partners, Monk’s Hill Ventures, Open Space Ventures. Amongst the startups that have joined are Kitabisa, Pluang, Mapan, BukuWarung, Halodoc, TokoCrypto, Payfazz, Advotics, eFishery, Waresix, KAYA.ID, Bonza, Flip, and Bibit.
About Oxygen for Indonesia: An initiative that aims to distribute 10,000 oxygen cylinders to approximately 1500 hospitals to help 30,000 COVID-19 patients in the region.
Kalaari Capital leads US$2.2M pre-Series A round in Swift
The story: Bengaluru, India-based internet commerce enabler Swift has raised US$2.2 million in a Pre-Series A funding round.
Investors: Kalaari Capital (lead), FirstCheque, Indian Angel Network, and other angel investors.
What the funding will be used for: To scale engineering efforts and to further enhance the product.
About Swift: Founded in 2019 by Shyam Kalita (ex-Pitney Bowes, ex-Zinnov), Prayas Mittal (ex-Flipkart, ex-Urban Ladder), and Debanshu Sinha (ex-Goldman Sachs, ex-Citi), Swift’s commerce platform simplifies online shopping for millions of consumers by helping SMEs, D2C and omnichannel brands run their internet commerce ventures without any hassle.
“Competing with marketplaces like Amazon and Flipkart, without the infrastructure to enable commerce is akin to running a mule in a horses’ race. At Swift, we have built a one-stop solution that enables sellers to focus on their core business while our infrastructure manages everything around it – cart conversions, payments, fulfillment, and returns reconciliation. There is no doubt that the next decade of e-commerce in India belongs to D2C brands and Swift looks to power that transformation,” Mittal said.
Early investor Xeraya’s portfolio company Imago Biosciences goes public
The story: US-based clinical-stage biopharmaceuticals company Imago Biosciences has announced the pricing of its initial public offering (IPO) of 8,400,000 shares of common stock at a price of US$16 per share.
More about the story: Malaysian investor Xeraya first invested in Imago in April 2019, Fares Zahir, CEO of Xeraya Capital commented on the listing: “We are confident that Imago’s efforts will ease the suffering of patients in the not too distant future. Congratulations and much thanks to Hugh Rienhoff Jr and the team at Imago, and to Xeraya’s Imago’s team for their efforts in seeing this through.”
About Xeraya Capital: A global investor in the life sciences sector with offices in Kuala Lumpur and Boston.
Image Credit: Mufid Majnun