Faasos Food Services, the Pune-based food delivery startup, has raised $30 million in a funding round led by Russian internet-focused investment firm Ru-Net. Existing investors Sequoia Capital and Lightbox Ventures also participated in the round. “That’s right, the deal has happened, and we participated,” said Prashant Mehta, partner with Lightbox… Read more »
Search Results for: Faasos
Last year, a host of startups delved into the on-demand food delivery sector, drawn by the large Indian market, easy funding from venture capital firms, and simple tech that goes into it. Competition among startups got heated, and a few of them were left struggling, unsure of their future. Some… Read more »
Existing investors Sequoia Capital, Lightbox Ventures participated in the round, after which investors hold majority stake in the startup
“A startup is a temporary organization used to search for a repeatable and scalable business model”. A great definition from Steve Blank, one of Silicon Valley’s well known educators. What keeps the wheels rolling is that startups discover these scalable models in a very capital efficient way, delivering multiple returns to investors…. Read more »
Lightbox Ventures is seeking to close 2 more deals with more mature tech startups in India in order to completely deploy capital from its second fund, which it closed in 2014.
Fundraising has become more difficult and might lead to further underperformance in the stock market, which could hinder successful initial public offerings (IPOs), the primary mode of exit for private equity investors.
“According to our plan by 2020, we want to have $500 million of business, which will be funded by around $200 million of equity and $300 million of debt and this will be across Asia. In Singapore we have already started doing deals, we’ve done some cross-party investments. China is still work in progress, we expect to be on the ground in the next 6-9 months,” Vinod Murali.
Grab has raised Rs.13.34 crore in debt from logistics firm Aramex Ventures in the first tranche. It will raise two more tranches from Aramex for almost 25% of the total paid-up share capital on a fully diluted basis,
“Good companies are always going to be able to raise money. The environment in India hasn’t changed, the economy hasn’t changed, the consumer base hasn’t changed, the needs of the consumers hasn’t changed. It’s just that the funding environment has changed.”
Nearly every venture capital shop active in the Indian market right now is spending considerable time cleaning out its portfolio. Non-performers are being weeded out and available capital is being kept in reserve either for the winners or for new investments