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HSBC estimates B2B ecommerce unicorn Elastic Run valuation at $800 million

Economic Times

Economic Times · 1y ago

HSBC estimates B2B ecommerce unicorn Elastic Run valuation at $800 million

HSBC has revised its valuation estimate for several Indian startups, including B2B ecommerce platform Elastic Run, lowering it to $800 million from $1.5 billion. The valuation estimate for etailer Meesho was also reduced by 14% to $2.5 billion, while agritech firm Dehaat's valuation was lowered by 11% to $400 million. However, Meesho is in the midst of a $600 million funding round, which is expected to finalize at a valuation of up to $4 billion. Additionally, HSBC stated that Prosus' stake in Byju's, an edtech company, has no value due to funding challenges and legal issues.

Related News

HNIs line up as SoftBank offloads stake worth $310 Mn In IPO-bound FirstCry

Inc42 · 1y ago

HNIs line up as SoftBank offloads stake worth $310 Mn In IPO-bound FirstCry

Japanese tech investor SoftBank has reportedly sold a portion of its stake in FirstCry, an IPO-bound ecommerce unicorn, for $310 million. The shares were acquired by several high-net-worth individuals (HNIs), valuing FirstCry at a range of $3.5 billion to $3.75 billion. SoftBank still holds shares worth $800 million to $900 million, which it plans to sell at a later date. SoftBank aims to bring its stake in the company below 26% to avoid being classified as a promoter. FirstCry is preparing to file its draft red herring prospectus (DRHP) by December 29 for an IPO, targeting a valuation of $4 billion.

M2P Fintech Seeks To Tap PE Player Helios For $80 Mn Funding, Closer To Unicorn Tag

Inc42 · 10m ago

M2P Fintech Seeks To Tap PE Player Helios For $80 Mn Funding, Closer To Unicorn Tag

B2B fintech startup M2P is in discussions with Helios Investment Partners to secure around $80 million in a new funding round. The investment is expected to comprise approximately $50 million in primary infusion and $30 million in secondary infusion. This deal is anticipated to raise M2P's valuation to approximately $800 million, positioning them close to achieving unicorn status. M2P, founded in 2014, provides fintech API solutions to various companies in the payments, lending, and banking sectors, such as slice, CRED, Ola, and Razorpay.

Udaan eyes $100 million from UK’s M&G and others at flat value

Economic Times

Economic Times · 8m ago

Udaan eyes $100 million from UK’s M&G and others at flat value

UK savings and investment firm M&G Prudential is reportedly in talks to lead a $80-100 million funding round for Indian B2B ecommerce firm Udaan. This would increase M&G Prudential's shareholding in Udaan, though the valuation is expected to remain flat. Udaan is focused on reducing costs and implementing restructuring plans, with a goal of becoming Ebitda profitable. The company's net merchandise value run-rate has decreased, but it has seen growth in categories such as grocery, pharma, and general merchandise. Udaan intends to move its domicile back to India in preparation for a potential IPO.

Exclusive: IPO-bound Zetwerk adds fresh ESOPs worth $64 Mn

Entrackr

Entrackr · 6m ago

Exclusive: IPO-bound Zetwerk adds fresh ESOPs worth $64 Mn

Business-to-business (B2B) e-commerce unicorn Zetwerk has added a new employee stock option worth Rs 541 crore (approximately $64 million) under its ESOP Plan 2018. This will be the maiden ESOP expansion for the Bengaluru-based company in the ongoing calendar year. The ESOP expansion was followed by its $90 million fundraising led by Khosla Ventures with the participation of The Schiehallion Fund at a $3.1 billion valuation.

Zetwerk Eyes $20-30 Million Fundraise Ahead of IPO

OutlookIndia

OutlookIndia · 5m ago

Zetwerk Eyes $20-30 Million Fundraise Ahead of IPO

Zetwerk, a B2B manufacturing unicorn, plans to raise $20-30 million ahead of its 2025 IPO at a $3.1 billion valuation. Previously, it raised about $67 million from investors such as Khosla Ventures and The Chinkerpoo Family Trust, totaling $740 million in funding. This move aims to strengthen its capital structure before listing on Indian stock exchanges. The company achieved a 25% increase in operating revenue and significant orders from industry giants.

Moglix raised ₹107.58 crore from Singapore parent since December

Inshorts · 4m ago

Moglix raised ₹107.58 crore from Singapore parent since December

Tiger Global-backed B2B ecommerce unicorn Moglix bagged ₹107.58 crore from its Singapore parent since December. In the last year, the startup received the shareholders nod to issue upto 1,16,856 compulsorily convertible cumulative preference shares having a face value of ₹10 each at a premium of ₹9,198 to its promoter Mogli Labs Private Limited on a rights basis.

With IPO On The Card, Infra.Market Plans Fresh Funding Of Up To $200 Mn At Higher Valuation

Inc42 · 10m ago

With IPO On The Card, Infra.Market Plans Fresh Funding Of Up To $200 Mn At Higher Valuation

B2B ecommerce platform Infra.Market is seeking a new funding round of $150-200 million. Current investors, such as Tiger Global, Foundamental, and Evolvence, are expected to contribute the majority of the funding, potentially increasing their stake in the company. The valuation for this round is still being negotiated but is expected to be higher than the $2.5 billion valuation achieved in the company's previous fundraise in 2021.

Peak XV-backed Zetwerk closes Series F round, prepares for public listing

VCCircle

VCCircle · 7m ago

Peak XV-backed Zetwerk closes Series F round, prepares for public listing

Zetwerk, a B2B manufacturing services marketplace, has closed its Series F funding round at a valuation 15% higher than its last valuation. The Bengaluru-based startup, backed by investors including Peak XV and Accel, plans to use the funding to prepare for a public listing. Zetwerk entered the unicorn club in 2021 and aims to continue its growth trajectory in the manufacturing industry.

Infra.Market bags ₹185 crore debt funding

Inshorts · 1y ago

Infra.Market bags ₹185 crore debt funding

B2B ecommerce platform Infra.Market has raised ₹185 crore (about $22 Mn) in debt funding from multiple investors. As per the startup’s filings with the Registrar of Companies (RoC), it raised the debt from digital lending unicorn Yubi (formerly CredAvenue), agriculture financing platform Samunnati, Vivriti Capital, among others, by issuing non-convertible debentures.

SoftBank India Elevates Sarthak Misra To Partner Role

Inc42 · 1y ago

SoftBank India Elevates Sarthak Misra To Partner Role

Sarthak Misra has been promoted to partner at SoftBank India. Previously an investment director at the firm, Misra joined SoftBank in 2019 and currently holds board positions at ecommerce unicorn Meesho and B2B online retailer OfBusiness. In his new role, Misra will report to Sumer Juneja, SoftBank's Managing Partner for India & EMEA. SoftBank is reportedly preparing to invest in Indian startups again after an 18-month dry spell and will resume signing deals with Indian startups shortly. The fair value of SoftBank India's investment portfolio stands at nearly $14bn, up 9% as of December 2023.

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