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India's Paytm raises USD 1.1 billion in the country's largest anchor round
Paytm has raised almost half of the USD 2.4 billion it is looking to raise in next week's IPO.
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At the same time, quick commerce is expected to grow to become a 5 billion dollar market in the next five years.
Last year, 11 Indian startups from assorted areas — ranging from fintech to edtech — became unicorns, i.e. private startups valued at more than USD 1 billion.
The past few months have witnessed Indian digital payment sector's meteoric growth, an achievement accompanied by spiking transaction failure from outdated bank infrastructure.
In 2018, Grofers pivoted to a private label company targets the mass market with affordably-priced in-house products to turn around.
The clean energy driven facility is expected to churn out over two million units annually.
This year is a challenging one for Eat.Fit, as its order volume dropped by over 80% during a pandemic-induced two-month long nationwide lockdown.
The move would also help improve the acceptance of digital payments across the country.
The majority of the sales will occur in the first few days of the festive season, when Amazon and Flipkart will be holding their respective mega sales events.
Flipkart isn’t alone in ramping up its services in preparation for the upcoming festive sales season as e-commerce companies expect to see strong consumption rebound from pent-up demand.