Cars24 gets $450 million funding
Cars24, an online marketplace for used cars, has
raised $450 million in a new funding round led by SoftBank Vision Fund II, Falcon Edge and existing investor Yuri Milner’s DST Global. The round includes a debt component of $110 million.
ET was the first to report on August 19 that
Cars24 was in the final stages of raising $350 million in equity capital from investors including SoftBank. The Gurugram-based startup’s valuation has nearly doubled to just under $2 billion following the new financing round. It last
secured $200 million in November 2020 in a round led by DST Global, thereby driving into the unicorn club at a valuation of $1 billion.
Lee Fixel’s Addition invests $125 million in Delhivery
Lee Fixel, a former partner at New York-based investment firm Tiger Global, has
pumped $125 million into new-age logistics startup Delhivery, one of his early bets.
Fixel was largely responsible for fuelling the first boom in the Indian consumer internet ecosystem with investments in top-tier startups like Flipkart, Ola and others. Addition, the investment fund
he founded after leaving Tiger Global in 2019, has backed the company, Delhivery said in a statement to ET.
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Medikabazaar secures $75 million funding
Medikabazaar, a business-to-business healthtech platform,
said it has raised $75 million in a Series C funding round led by Creaegis, along with CDC Group, the UK’s development finance institution, making it the highest fundraising in the B2B healthcare space.
The company will use the funds to strengthen its digital capabilities, deepen the supply ecosystem and technology driven distribution channels, and bolster capacity, it said in a release.
ZestMoney bags $50 million funding
ZestMoney, an Indian ‘buy now, pay later’ platform, has
raised $50 million from Australian peer Zip Co Ltd. as part of its Series C funding round, at a time when BNPL solutions are gaining traction among consumers at home and abroad.
Zip will acquire a minority shareholding in the fintech startup and a board seat as part of the investment, according to a statement released on Wednesday. The BNPL company operates in 12 countries, serving more than 7.3 million customers and over 51,000 merchants.
FloBiz raises $31 million
FloBiz, a startup that helps digitise small and medium businesses, has
raised $31 million in a Series B round led by Sequoia Capital India, Think Investments and its existing investors Elevation Capital and Beenext.
The startup plans to use the capital for team expansion, product development and scaling distribution to serve more businesses. FloBiz will also focus on building additional technical capabilities within the organisation, as it prepares to venture into financial services soon.
Other key deals
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