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Swiggy lays off 1,100 employees and shuts other businesses
Last week Zomato also announced cutting 13% of its total workforce.
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In January, Tiger Global raised a new fund of USD 3.8 billion which is meant to back startups in the US, China, and India.
According to the report, Ribbit Capital, Accel, and Sequoia Capital were the top five active funds who backed Indian fintech companies.
In India, Spotify competes with local as well as global music streaming giants.
By locally manufacturing the world's most sought-after test kits, the company has been able to reduce testing costs by one-third.
In the past three years Reliance has spent USD 3 billion to acquire technology startups to strengthen its position in India's growing e-commerce space.
RTP Global recently announced a USD 650 million fund to invest in early stage startups.
In a similar move, Amazon Pay launched credit service to its users.
The fresh investment takes PhonePe’s total raised amount to USD 928 million.