Swiggy and Zomato, who have between them raised $2 billion since last year, are not showing any signs of slowing down this expansion.
3i Infotech, which counts SBI Mutual Fund and Bayer Crop Science as customers, has over 5,000 employees and over 1,200 customers.
The company has raised over Rs 35 crore from Sequoia Capital India and has been in talks to raise another Rs 200 crore led by Indonesia’s ride hailing giant Go-Jek.
The fresh capital will be largely used for expansion of the new businesses of the company, known as Razorpay 2.0.
The move comes after the Mukesh Ambani-led company said earlier that it plans to enter the e-commerce space.
Things had started falling apart for Snapdeal after June 2016 with the exit of Nikesh Arora.
Sachin Bansal’s investment in Ola signifies a coming of age for the indian startup ecosystem.
Several early-stage investors have started seeing a movement of startups to overseas jurisdictions though concrete numbers on the impact of angel tax are yet to be seen.
The new e-commerce policy had forced Amazon India to delist lakhs of products overnight.
Zomato's move is aimed at shoring up capital against Bengaluru-based rival Swiggy.
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