In recent developments within the Indian tech and startup sector, several key stories have emerged. Payment platforms Razorpay and Cashfree are looking to recover lost market share, while social media company ShareChat has announced its third round of layoffs. Byju's, an ed-tech firm, held its annual general meeting, details of which have yet to be disclosed. In a significant move, Zomato, the food delivery giant and existing investor in Shiprocket, has reportedly made an offer to acquire the e-commerce shipping startup for $2 billion, which was later denied by the company stating no current acquisition plans. Meanwhile, Flipkart, India's leading e-commerce company, is set to receive a $600 million investment from its largest shareholder, Walmart, as part of a new fundraising round aiming to raise $1 billion, confirmed by a Flipkart spokesperson. In the broader context, the National Startup Advisory Council's 8th meeting on December 19th, chaired by Minister Piyush Goyal, discussed strategies to elevate the ecosystem to new heights. Additionally, Indian startups have raised a total of $908 million in the week of December 16-20, with 19 startups contributing to this amount, as per data shared with ETtech.
ETtech #Deals Digest: Indian #startups raised $908 million this week buoyed by @Flipkart's mega funding A total of 19 startups raised a cumulative of $908 million between December 16- 20, as per Tracxn data shared with ETtech. https://t.co/DrBjFKFYf2
8th meeting of National Startup Advisory Council on 19th December was chaired by Shri. Piyush Goyal, Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles. Members deliberated steps to take Indian startup ecosystem to newer heights. https://t.co/oNveN97OSA
8th meeting of National Startup Advisory Council on 19th December was chaired by Shri. Piyush Goyal, Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles. Members deliberated the next steps to take Indian startup ecosystem to next level. https://t.co/oNveN98mI8
Financial Times @ft: Flipkart's $1 billion fundraise; Zomato offers to acquire Shiprocket - The Economic Times. #aiforgood #MachineLearning #robotics https://t.co/acAU4hz7ZN
Food delivery company Zomato has made an offer to acquire closely held Indian e-commerce shipping startup Shiprocket https://t.co/GWevTsmeZ5
Good morning, readers! 🌞 Start your day with these top tech stories: ■ @Walmart pumps $600 mn as @Flipkart looks to raise $1B ■ Investors seek transparency from Byju Raveendran ■ Activists call for withdrawal of telecom bill https://t.co/TlTF4SuGwZ
Zomato denies report that said it's looking to acquire Shiprocket. "No plans for any acquisition at this moment." https://t.co/DUp3CKDTEH
Zomato has made an offer to acquire closely held Indian e-commerce shipping startup Shiprocket, sources say https://t.co/SzjWu8v83p
⚠️ INDIA'S FLIPKART TO GET $600 MILLION FROM WALMART UNDER NEW FUNDRAISE Indian e-commerce firm Flipkart's biggest shareholder Walmart is set to infuse about $600 million in a new fundraise for the startup, a Flipkart spokesperson said on Thursday. Flipkart is in talks to… https://t.co/aFcvx2pg2H
🚨 #Zomato offers to acquire #Shiprocket for $2 billion: report A spokesperson for Zomato declined to comment on “market speculation”. The @deepigoyal-led company is an existing investor in Shiprocket. Read more at: https://t.co/K0sglXuzil
Good morning, readers! 🌞 Start your day with these top tech stories: ■ @Razorpay, @gocashfree eye lost market share ■ @sharechatapp's third round of layoffs ■ Details from @BYJUS annual general meeting https://t.co/eQveyr5vBi