Entrepreneurs come to VCs because they want to change how things are done, somewhere. This "somewhere" is usually a potentially large market. The trouble usually is that they don't have any customers but need to build a team to bring change.
The deal values the new-age logistics services provider at around $4 billion.
The US-based company has lined up about $500 million for the Indian market
The much-hyped flagship sale events of both Walmart-backed Flipkart and Amazon India are said to have started well, based on early trends Sunday as well as during the early access for subscribers of customer loyalty programmes like Amazon Prime.
Cryptocurrency is increasingly gaining in prominence as a payment method among a small yet growing set of businesses in the formal and informal economy in India.
Fosun International, a Chinese conglomerate that invested in Delhivery in 2017, has sold a part of its stake in the logistics firm for $50 million, sources told us, and could exit the startup completely before its IPO.
The company, which develops products, provides customer service, internal accounts and taps local businesses, has expanded in Bengaluru, Pune and has also set up a unit in Chennai, home to the country’s SaaS products industry.