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Indian Meals Supply Startup Raises $1.25 Billion
Swiggy, an Indian meals supply startup, raised $1.25 billion in enterprise capital funding led by SoftBank’s Imaginative and prescient Fund 2 and Prosus. The funding is a testomony to the startup’s capability to climate the COVID-19 pandemic. Previous to COVID-19, Swiggy solely centered on delivering meals for eating places. Through the pandemic, Swiggy expanded into grocery store supply which boosted its gross sales. Order quantity is up 30% in comparison with earlier than the pandemic hit.
With the Sequence J funding, Swiggy is valued at $5.5 billion. The startup plans to make use of proceeds to put money into its non-food supply enterprise. India’s meals supply market alone is forecast to achieve $12 billion by 2022. Indian startups have been elevating report capital in 2021 as large traders together with SoftBank enter the market.
PS: Softbank is an investor in SoFi.
Inexperienced Crop Feeder Raises $430 Million
Pivot Bio, a startup that wishes to interchange artificial fertilizer with a greener various, raised $430 million in enterprise capital funding. The startup, fashioned in a College of California, Berkeley lab, is now valued at near $2 billion. DCVC and Temaske (TEM) led the spherical of funding.
Utilizing naturally occurring microbes from crop soils, Pivot Bio feeds nitrogen to corn and wheat crops. Pivot’s liquid product is utilized on the similar time the seed is planted, which lowers the labor prices related to planting crops as a result of it removes one of many steps within the course of. The corporate’s gross sales have tripled this yr with corn and wheat farmers making use of it on thousands and thousands of acres of land. Pivot Bio plans to make use of the funding to broaden into new markets and enhance its merchandise.
Main Care Startup Now Valued at $3.3 Billion
Carbon Well being, a startup combining in-person and digital healthcare, raised $350 million in a spherical of enterprise capital funding. The funding, which provides the corporate a valuation of $3.3 billion, was led by Blackstone’s Horizon platform. The corporate plans to make use of the funding to capitalize on the expansion it noticed in the course of the pandemic and help its objective to grow to be the most important major care supplier within the US.
Since its earlier funding spherical in November 2020, Carbon Well being has seen a 129% improve in affected person quantity. The corporate is attempting to revolutionize major care with its omnichannel care mannequin which mixes in-person clinics, dwelling care, and {hardware} to enhance well being outcomes.
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