Quick-commerce company Dunzo is in advanced stages to close a $25-30 million round, while GIC is in talks to lead a $40-million funding round in Vegrow.
Lightrock, Lightbox likely to back Dunzo
Dunzo, which has been cash-strapped for a while, is in advanced stages to close a $25-30 million round, MoneyControl reported.
While the valuation is still undecided, key investors like Lightrock and Lightbox are participating in the round, the report said.
While the shareholding pattern for other investors will remain unchanged, Reliance Retail will invest on a super pro-rata basis, which means it will increase its ownership in Dunzo.
With about 19% ownership in Dunzo, Google India is the second-largest investor in Dunzo. Lightbox, Lightrock, and Blume Ventures are the other prominent backers of the quick-commerce company.
Vegrow’s pre-money valuation pegged at $250m
Singapore’s sovereign wealth fund GIC is in talks to lead a $40-million funding round in Indian startup Vegrow, which runs a business-to-business marketplace for fruit, TechCrunch reported.
The talks, which have not finalised and so the terms could still change, currently value the Indian startup at a pre-money valuation of about $250 million, the report said.
Vegrow, which raised its Series B funding round from Prosus Ventures at a valuation of about $170 million last year, focuses on bridging the gap between demand and supply for fruit by aggregating a diverse range of channels.
Vegrow also counts Lightspeed, Elevation, Better Capital, and Ankur among its backers.