Merchant payments and financial services provider BharatPe has raised $370 million in a funding round led by Tiger Global Management. Dragoneer Investor Group and Steadfast Capital also participated in the Series E funding round. The latest round has increased the company’s valuation to $2.85 billion in six months, making it the latest entrant to the ever-growing unicorn club in India. BharatPe had raised $108 million in February this year at a valuation of $900 million.
E-commerce platform for beauty products, Nykaa, has filed preliminary documents for an initial public offering (IPO) as a long line of companies plan to list on the bourses. The entity that operates Nykaa, FSN E-Commerce Ventures Ltd, said it would raise as much as $70.6 million by selling new equity in the offering, as per its draft red herring prospectus (DRHP).
Mukesh Ambani’s Reliance Retail is in talks to buy Subway India for $200-250 million or Rs 1,488-1,860 crore. If the talks are successful then RIL will gain the network of 600-something Subway stores across the country.
Over 2 million Indian accounts banned by WhatsApp in the period 15 May – 15 June 2021, in the interest of preventing online abuse and keeping users safe on our platform, Facebook-owned messaging platform WhatsApp said in its latest India Monthly Report.
More details are being added.
Prime Minister Narendra Modi will monitor the Ministry of Science and Technology, while home minister Amit Shah will oversea the Ministry of Cooperation.
Jyotiraditya Scindia has been given the charge of Civil Aviation Ministry, while Mansukh Mandavia has been named new health minister.
Anurag Thakur, who earlier held the charge of MoS finance, has been given the charge of information and broadcasting and the ministry of sports.
Education and skills development ministries will be combined, and oil minister Dharmendra Pradhan will take charge of these ministries.
Hardeep Singh Puri will retain Urban Development. He has also been given the charge of petroleum ministry.
More details are awaited.