After receiving controversy on social media over its ambitions to start quick 10-minute meal delivery, India’s online food delivery giant Zomato was obliged to clarify its delivery partners’ road safety. Deepinder Goyal, the founder of Zomato, took to social media to make things clear. He said there are no consequences for delivery times and no […]

Licious is a direct-to-consumer (D2C) meat firm that has raised $150 million in finance. The funding round comes 6 months after the firm received the status of being a unicorn. Amansa Capital, together with Kotak PE and Axis Growth Avenues AIF-I, led this fundraising round. Angel investors such as Nithin and Nikhil Kamath of Zerodha, […]

The retail arm of Reliance Industries Ltd. has invested US$240 million for a 25.8% stake in India’s online food delivery platform Dunzo to get a foothold into the rapidly emerging market of superfast dispatch of household products. The onset of the COVID-19 pandemic has led to a boom in demand for services like Dunzo and […]

India’s direct-to-consumer fresh meat brand Licious has raised $52 million in a funding round led by IIFL Asset Management Late Stage Tech Fund. This makes Licious the first D2C startup in the country to attain unicorn status. The exclusive financial advisor to Licious for this transaction was Avendus FLF who also participated in this financing […]

FoodTech platform Zomato recently announced that it is closing down its pilot online grocery delivery business due to gaps in order fulfillment that has led to poor customer experience. However, the company will carry on with its B2B essentials and grocery delivery services to restaurants through Hyperpure. This is the second time in two years […]

India’s online food online platform and restaurant guide Zomato has recently announced that it will be tailing off the business of its subsidiary ZUL (Zomato USA LLC). The company claims that the contribution of this business to their revenue was nil. This is followed by Zomato’s announcement to go public with a focus on sharpening […]

Online Food Delivery platform Zomato went public with its IPO on July 14th. With an ambitious target, even considered an overvaluation by experts, the company has gained a lot of traction in the market. Despite its loss-making status and a lot of talk regarding the 72-76 rupee price point of the stock, many investors are […]

Zomato, a popular online food delivery platform in India has gone live with its IPO(Initial Public Offering) on July 14th at 10 AM IST. The company’s ambitious valuation goals of ₹60000 crores ($8 billion) have sparked discussions on this IPO, with many considering the company to be overvalued at this stage.  IPO Goals The company […]

Zomato, India’s food delivery unicorn, has acquired Uber’s food delivery business in India for $206 million, according to a US SEC filing.