ETtech Deals Digest: Logistics startups raise bigger financing rounds
SECTIONS
Last Updated: Jun 04, 2021, 07:03 PM IST
Share
Synopsis
Logistics and supply chain startups bagged bigger rounds this week. Meanwhile, Mensa Brands the Thrasio-style venture of former Myntra CEO Ananth Narayanan secured $50 million in a mix of equity and debt.
iStock
Logistics and supply chain startups bagged bigger rounds this week. Meanwhile, Mensa Brands, the Thrasio-style venture of Ananth Narayanan, secured $50 million in a mix of equity and debt.
Logistics startup Delhivery has
picked up around $277 million in a new funding round led by US-based Fidelity with Singapore’s sovereign wealth fund GIC also participating, latest regulatory filings accessed by ET showed. Scotland’s Baillie Gifford and Abu-Dhabi-based fund Chimera have come in as new investors in the Gurgaon-based company, which is planning to launch its initial public offering (IPO) next year.
May also saw two Indian startups enter the unicorn club. Fintech startup Zeta crossed the $1 billion valuation after raising $250 million in a Series C funding round from Softbank Vision Fund 2, with participation from Sodexo.
Read more about Ananth Narayanan starts Mensa Brands after exit from PharmEasy-Medlife deal on Business Standard. Mensa aims to create a tech-led House of Brands for e-commerce industry; has closed Series A round, raising $50 mn from Accel, Kunal Shah, Mukesh Bansal and Scott Shleifer of Tiger Global