#15July — Swiggy Eyes $500 Mn Funding | Sachin Bansal Infuses INR 200 Cr In Piramal Enterprise
Here Are The Latest Updates From The #IndianStartup Ecosystem:
?Unicorn India Ventures has announced the launch of its second equity fund worth INR 400 Cr. The early stage venture fund will focus on investments in Pre Series A and Series A rounds across sectors such as SaaS, fintech, healthtech, robotics, gaming and digital content. Interested startups can find more details here...
? Flipkart cofounder Sachin Bansal has reportedly infused INR 200 Cr into Ajay Piramal owned Piramal Enterprises. Know more about the funds and Sachin’s startup investments here…
?As part of the new Indian government’s 100-day agenda, the DPIIT has been working on the draft national retail policy. DPIIT secretary Ramesh Abhishek said that the trade body will release that draft of the national retail policy in the next ten days.
?In a major crackdown on Chinese ecommerce companies importing products to India under the garb of gifts, customs officials in Bengaluru and Delhi have joined their counterparts in Mumbai in stopping the entry of such products into India.
?Swiggy is reportedly in talks with South Korean venture capital funds including the likes of Korea Investment Partners, Mirae Asset Management, STIC Investments and Neoplux for a $500 Mn funding round. Existing investor Naspers will lead the round, which would value Swiggy at around $4 Bn.
? Delhi High Court has ruled that ecommerce players such as Amazon, Flipkart, Snapdeal and others cannot sell direct selling companies products on their platform without the direct sellers authorisation. Here are the products you might not find online anymore.
Events you can attend this week:
? BIGShift, Chandigarh : Startup founders, entrepreneurs, investors and government officials will come together to discuss the state of the ecosystem in Tier 2 cities through dedicated sessions, keynotes, a panel discussion. The first edition of BIGShift will take place in Chandigarh on July 19.
? Inc42 Founders Meetup : The meetup is the place to engage with over 50 startup founders, entrepreneurs and investors for an evening of networking, sharing knowledge, discussing challenges, and interacting with peers. The speaker for this edition of the founders meetup is Nitin Saluja, cofounder of the tea cafe chain Chaayos.
? Next BIG Idea Contest 2019 : An annual feature of Zone Startups India’s ecosystem development activities, the Next BIG Idea Contest engages the pan-India startup ecosystem including founders, incubators, co-working spaces, investors, and other industry enablers through roadshows in 22 Indian cities.
? Entrepreneurship World Cup : The Entrepreneurship World Cup, organized by The Global Education & Leadership Foundation (tGELF) in India, in partnership with the Misk Global Forum and the Global Entrepreneurship Network (GEN), provides a platform for local entrepreneurs to be recognized for their innovative capability and helps them expand their business ventures. Winning startups from the national competition will represent India at the Global Finals in Riyadh, Saudi Arabia and compete for global investments and prizes worth $5 Mn.
If you are interested, you can sign up here...