Intercity food delivery startup JustMyRoots has acquired The State Plate (TSP), which operates in the non-perishable packaged food segment, as part of its plans to expand presence in the packaged intercity food market across the country.
The Kerala Infrastructure Investment Fund Board (KIIFB) has cleared 13 additional projects worth ₹343.71 crore. This brings the total number of approved projects to 1,073, with a total value of ₹82,293.93 crore.
Fintech startup BharatPe is reportedly in discussions to raise $100 million in an equity round. The company plans to use the funds to support its expansion efforts.
Indian food delivery company Swiggy has resumed its IPO planning and is targeting a stock market listing in 2024. The firm, which delivers food and groceries, was valued at $10.7bn in its last funding round in 2022. Swiggy has invited eight investment banks, including Morgan Stanley, JP Morgan and Bank of America, to pitch for work on the IPO. The company is aiming to list between July and September 2024 and is using its last funding round valuation as a benchmark for planning.
Express e-grocer Zepto raises $200 million in funding, comprising over 81% of the total funding raised by startups in the week of August 19 to 25. Other startups in sectors like ecommerce, software-as-a-service, and healthtech raised $46 million. Fintech led with five deals. In total, startups raised $246 million across 18 funding deals, with early-stage deals being dominant.
DynamoFL, a privacy-solutions provider for generative AI, has raised $15.1 million in a fresh funding round led by Nexus Venture Partners and Canapi Ventures. The company plans to use the funds to strengthen its team and engineering capabilities in the machine learning space. DynamoFL, founded in 2021, helps large-scale enterprises identify vulnerabilities and fine-tune their language models. The company intends to double the team size and hire machine learning engineers, scientists, and DevOps roles.
