Faasos

India Dealbook: Faasos, Urbanclab, NIRAMAI raise funding

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The food delivery startup has raised $50 million so far.

Exclusive: Temasek-backed Innoven sets sights on China

“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.

India and China are on two ends of foodtech funding spectrum

About 66 per cent of Indian food tech funding deals were in the seed or angel stages. There were hardly any deals at the Series D stage. Thirty seven per cent of Chinese food tech deals went to Series D companies, compared to just 13 per cent of such deals in the US, and 11 per cent in India. Only about 8 per cent of Chinese funding deals in food tech were at the seed or angel stage.

We’re a food company, not food-tech: Jaydeep Barman, 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 »

India Dealbook: Parsel merges with Accord Ecom; MockBank acqui-hires Litoro

Logistics services provider Parsel has merged with Accord Ecom Solutions, a third-party logistics provider that counts India’s largest e-tailer FlipKart as its client. In a separate deal, test preparation site for government jobs MockBank has acqui-hired web and mobile services firm Litoro on a cash-per-equity basis. Logistics firm Parsel merges… Read more »