BigBasket valued at $3.2 Bn🧺; Mensa acquires MensXP, iDiva, and Hypp👸🏻; Airtel picks up stake in Lemnisk🎯
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BigBasket valued at $3.2B with $200M cash from Tata Digital, others🧺
BigBasket has raised $200 million in new funding that has boosted the valuation of the Tata Digital-owned e-grocer to $3.2 billion, a top executive told. This is a 60% valuation bump from its most recent primary cash infusion.
Cofounder and CEO Hari Menon said the fresh capital will be used to strengthen infrastructure and ramp up marketing to expand the core grocery business.
BigBasket also plans to take its core egrocery business to about 75 cities, from 55 at present.
BigBasket has also been bringing its key services, including 1mg and BB Daily, onto its main app, which is internally referred to as a ‘super app’. BigBasket and BB Now are also listed on Tata Neu.
Mensa acquires MensXP, iDiva, and Hypp from Times Internet👸🏻
Mensa Brand Technologies Private Limited, which owns a clutch of direct-to-consumer companies under Mensa Brands, has partnered with India Lifestyle Network to acquire lifestyle portals MensXP, iDiva, and creator management and marketing company Hypp from Times Internet.
The acquisitions that have been done for an undisclosed sum will enhance Mensa’s digital brand-building capabilities and provide synergies in building a next-gen, digital-first consumer company, it said.
These properties, they added, have 40 million monthly visitors on their platforms and 250 million monthly visitors.
- Workforce management software provider BetterPlace has raised $40 million through convertible notes in an ongoing funding round. New investors Macquarie Capital and SITE Capital Partners have participated and infused funds as a part of the latest tranche.
- Hyderabad-based bakery startup Naomi Patisserie & Bakehouse has raised Rs 5 crore from Kanthi Dutt, Co-founder of SustainKart.
- Smart EV Charger startup Plugzmart has raised Rs. 3.63 crores in a seed round led by early-stage VC BlueHill Capital.
- New-age logistics players Delhivery said it will acquire Pune-based Algorhythm Tech Pvt Ltd, which delivers intelligent planning and optimisation solutions for enterprise supply chain operations.
Airtel picks up strategic stake in tech startup Lemnisk🎯
Bharti Airtel has acquired 8% stake in Immensitas Private Limited, which runs Lemnisk, as part of the telecom company’s startup accelerator program.
Founded by Subra Krishnan, Rinku Ghosh, and Praveen DS, Lemnisk offers real-time marketing automation and a secure customer data platform (CDP). The CDP platform is capable of coordinating one-to-one personalization and cross-channel customer journeys at scale, thereby helping enterprises in increasing conversions, retention, and growth, Airtel said in a release.
Airtel will integrate the Bengaluru-based startup’s services across several of its platforms, including adtech platform Airtel Ads, digital entertainment apps Wynk Music and Airtel Xstream, and online marketplace Airtel Thanks App.
Lemnisk has offices in Singapore, Dubai, Boston, and Bengaluru.
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