Startups mop up $7 bn from PEs, VCs in 2018

MUMBAI, Mar 8 (PTI) E-commerce and consumer Internet companies have raised over USD 7 billion in private equity and venture capital funds in 2018, says a report. Of the total investment, startups such as Oyo, Swiggy, Byjus, Paytm Mall, Pine Labs, Zomato, Udaan, Policybazaar and Curefit collectively raised the lions share of USD 4.6 billion in 2018, says an EY... Continue Reading →

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Uber Eats and Foodora leave Austria

Last Thursday, Uber Eats said it would completely withdraw from the online delivery market in Austria. The delivery service was present in Vienna for two years, but the company didn’t grow as hard as it hoped and expected. ‘Surprising that Uber Eats already leaves’ Der Standard spoke with Benjamin Herr of the University of Vienna, who said he’s surprised... Continue Reading →

March: ecommerce events in Europe

March 7-8: eTail Germany – Germany eTail Germany has a full agenda and over 400 attendees. There will be over 80 industry-leading speakers and more than 90 interactive sessions. More info – Visit the website March 12: OroVibe – France OroVibe France is a B2B ecommerce and CRM event for manufacturers, distributors, retailers and brands. More info – Visit... Continue Reading →

Amazon India ties up with Kudumbashree

Kochi: Amazon India has signed an MoU with Kudumbashree, a poverty eradication and women empowerment programme implemented by Kerala government as part of its programme- Amazon Saheli. Through this partnership, Amazon India will support, train and empower women entrepreneurs associated with the organization and provide a marketplace for them to showcase their products to Amazon customers across the country. Kudumbashree is one of... Continue Reading →

Zomato gets Rs 441 crore in funding round led by Delivery Hero

BENGALURU: Online restaurant discovery and food delivery platform Zomato has said it is raising $62.5 million (about Rs 441 crore) in a fresh round of funding led by Naspers-backed German food-tech major Delivery Hero. The capital infusion is part of Zomato’s ongoing Series I round, and is likely to value the Gurgaon-headquartered company at about $2 billion. Also participating in the round are... Continue Reading →

Marks and Spencer, Ocado sign GBP 750 mln deal

UK-based retailer Marks and Spencer has agreed a joint venture with online grocery retailer Ocado that would give Marks and Spencer a full online food delivery service. Under the deal, Marks and Spencer will buy a 50% share of Ocado’s UK retail business for up to GBP 750 million (USD 994 million). The two retailers said customers will benefit... Continue Reading →

Zomato delists 5,000 restaurants in Feb for failing to meet hygiene standards

Zomato CEO (Food Delivery Business) Mohit Gupta said: "We are adding 400 restaurants to our platform every day. So, it is crucial that our restaurant partners are compliant with regulations and hygiene standards." New Delhi: Online restaurant guide and food ordering firm Zomato Friday said it has delisted over 5,000 restaurants in February for non-compliance with the... Continue Reading →

Uber Eats India likely to end up on Swiggy’s plate

The transaction is likely to be a share swap, sources said, giving Uber about 10% stake in the Bengaluru-based company last valued at $3.3 billion. BENGALURU/NEW DELHI: In what would be one of the most significant consolidation moves in the sector, Uber Eats, the food delivery arm of the global ride-hailing platform, is in final stages of... Continue Reading →

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