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Ant Financial to lead USD 600 million funding in Indian food tech Zomato

Zomato and Swiggy are capital hungry to scale up as competition intensifies.

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Investors are writing larger cheques for fewer startups.
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Early stage funding in Indian startups shrink
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The new investment brings Bukalapak’s valuation beyond USD 2,5 billion
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Indonesian unicorn Bukalapak bags new investment from South Korea’s Shinhan
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Till now only two startups have listed on BSE’s Startup exchange.
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Indian stock exchange lures startups to go public
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Funding will be used to add new product categories and expand across country.
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Tencent-backed Indian B2B unicorn Udaan raises USD 585 million
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Over 42.6 million handsets have been shipped to India in the last two months to cater to the demand.
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Online mobile sales skyrocket during festive season in India
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Telecom providers have been lobbying hard for mobile money to compete with other financial services providers.
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Vietnam’s major telecom plans to roll out 100,000 service points for mobile money in 2020
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Grab has faced legal troubles across Southeast Asia since its merger with Uber’s regional operation.
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Grab faces USD 20 million fine in Malaysia for violating competition law
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The space is backed by Enterprise Singapore and works with Nest.Bio, a US-based life science VC and incubator.
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Singapore’s NSG BioLabs launches biotech-focussed co-working lab and office space
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