India Digest: Flipkart eyes Shadowfax; Artha Venture backs LenDenClub

The Flipkart delivery process. Photo: Bloomberg

By Pramugdha Mamgain

August 30, 2019

Flipkart is in the process of investing about $40 million in Indian logistics startup Shadowfax while LenDenClub has raised $1 million in a pre-Series A funding round.

Flipkart eyes Shadowfax

Walmart-led Flipkart is in the process of investing about $40 million in Indian logistics startup Shadowfax to further boost its last-mile delivery service ahead of the festive season.

The funding is expected to value Shadowfax at $200 million, the Economic Times reported.

The deal, if fructifies, will be Flipkart’s third investment in the logistics space after BlackBuck and locker provider QikPod. Shadowfax last raised $22 million in a Series C funding round led by NGP Capital in August 2018.

Artha Venture backs LenDenClub

Peer-to-peer lending platform LenDenClub on Thursday announced that it has raised $1 million in a pre-Series A funding round led by existing investor Artha Venture Fund.

Several family offices like the UAE-based Transworld Group and angel investors including Shuchi Kothari, Livspace co-founder Ramakant Sharma, and Narendra Karnavat also participated in the financing round.

The startup plans to use the funding proceeds for product enhancements and to expand its existing operations and lending footprint in over 500 cities. It is also looking to ramp up its senior management team.

 

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.
APPLY NOW

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.
APPLY NOW