Fintech startup Cred has closed a $120 million funding round.(Bloomberg photo)
Fintech startup Cred has closed a $120 million funding round.(Bloomberg photo)

Deals Buzz: FreshtoHome raises funds in fresh round led by Iron Pillar

In other news, fintech startup Cred has closed a $120 million funding round, led by existing backers Ribbit Capital, Gemini Investments, a personal investment vehicle of Yuri Milner’s DST Global, and Sequoia Capital
By Ridhima Saxena | livemint, Mumbai
UPDATED ON AUG 27, 2019 02:06 PM IST

Mint brings you your dose of the top deals news, reported from newsrooms across the country.

FreshtoHome raises funds in fresh round led by Iron Pillar

FreshtoHome, a Bengaluru-based online fresh fish and meat retailer, Monday raised $20 million in a Series B funding round that was led by Iron Pillar and also included Japanese investor Joe Hirao, Mint reported. The startup, which crossed $30 million ( 200 crore) in annualized sales, will utilize the funds to expand into other cities in India and the UAE. The company will also use the funds to diversify their product offerings in various other fresh and chemical-free food categories, such as fruits and vegetables, cold-pressed oils, organic cow and buffalo milk, dairy products, organic staples and other healthy food products. These products will eventually be distributed across e-commerce platforms, retail outlets and other channels across multiple geographies. FreshtoHome is among the fastest-growing e-grocery companies in India and largest in the fish and meat e-commerce space by sales. Iron Pillar is a specialist venture growth fund investing in startups beyond Series A in India.

Cred closes $120 million financing as valuation jumps to $450 million

Fintech startup Cred has closed a $120 million funding round, led by existing backers Ribbit Capital, Gemini Investments, a personal investment vehicle of Yuri Milner’s DST Global, and Sequoia Capital, The Economic Times reported. While regulatory filings show an infusion of $100 million, the company said it has racked up an additional $20 million from investors. This will be one of the largest funding rounds for a less-than-a-year-old Indian company. New investors joining the financing round, which values the startup at $450 million, include Tiger Global, Hillhouse Capital, General Catalyst, Greenoaks Capital and Dragoneer. The Bengaluru-based Cred, a platform for all forms of credit card bill payments, was valued at $75 million when it first raised capital last year. The firm plans to use the fresh capital to expand into international markets and strengthen its merchant ecosystem. He said the company was in talks with various banks to strike partnerships and offer the Cred platform to help them disburse personal loans through credit cards.

A91 Partners to invest $10 million in Atomberg Technologies

A91 Partners, the investment fund founded by three former managing directors of Sequoia Capital, is close to investing $10 million in energy efficient and connected fan maker Atomberg Technologies, The Economic Times reported citing multiple people in the know. The deal will include both a primary and secondary component, giving Atomberg Technologies a post-money valuation of $25 million. It will also get A91 Partners a 40% stake in the Mumbai-based startup, and allow IDFC Parampara, which invested $1.5 million cumulatively in Atomberg in previous rounds to partially exit as part of the deal. The due diligence process is nearly complete and the investment could be concluded shortly.

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A salesman shows gold necklaces to a customer at a jewellery showroom in Kolkata in this file photo. (Reuters Photo)
A salesman shows gold necklaces to a customer at a jewellery showroom in Kolkata in this file photo. (Reuters Photo)

Gold prices start the week at 48,332 per 10 gram, fall to 48,861

By hindustantimes.com | Written by Meenakshi Ray, New Delhi
PUBLISHED ON JAN 23, 2021 11:19 AM IST
Gold price was up in the national capital on Monday with a recovery in international prices and rupee depreciation, according to HDFC Securities.
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The record rise in prices has led to demands for a cut in excise duty to allow customers to buy fuel at lesser prices.(Satyabrata Tripathy/Hindustan Times)
The record rise in prices has led to demands for a cut in excise duty to allow customers to buy fuel at lesser prices.(Satyabrata Tripathy/Hindustan Times)

Fuel prices surge once more. Check what people will have to pay in major cities

By hindustantimes.com | Edited by Shankhyaneel Sarkar, Hindustan Times, New Delhi
PUBLISHED ON JAN 23, 2021 11:11 AM IST
Petrol prices in Delhi rose to 85.70 and diesel prices were up by 15 paise to rise to 75.88 per litre.
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While the RBI has sought to increase scrutiny on shadow banks, it has also assured them that the proposed changes will continue to allow those engaged in niche sectors and markets to have flexibility in terms of business operations.
While the RBI has sought to increase scrutiny on shadow banks, it has also assured them that the proposed changes will continue to allow those engaged in niche sectors and markets to have flexibility in terms of business operations.

RBI proposes stricter norms for non-banks

By Gopika Gopakumar, Livemint, Mumbai
PUBLISHED ON JAN 23, 2021 07:39 AM IST
The regulator proposed to classify the shadow banks into four categories, depending on their systemic importance and potential risk to the stability of financial system stability.
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The India volatility index, or the VIX, which indicates a rise in fear and anxiety among investors, rose 1% to end at 22.42 on Friday.(PTI)
The India volatility index, or the VIX, which indicates a rise in fear and anxiety among investors, rose 1% to end at 22.42 on Friday.(PTI)

Markets skid amid weak global cues

By Nasrin Sultana, Livemint, Mumbai
PUBLISHED ON JAN 23, 2021 07:37 AM IST
Stocks in the Asia-Pacific also traded lower, with Hong Kong’s Hang Seng falling 1.6%, China’s Shanghai Composite 0.4%, Japan’s Nikkei 0.44% and South Korea’s Kospi 0.64%.
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After the move was opposed by industry, finance minister Nirmala Sitharaman said on August 23, 2019 that violations of CSR norms under the Companies Act would be treated as a civil liability and not as a criminal offence.(HT file photo. Representative image)
After the move was opposed by industry, finance minister Nirmala Sitharaman said on August 23, 2019 that violations of CSR norms under the Companies Act would be treated as a civil liability and not as a criminal offence.(HT file photo. Representative image)

CSR offences by firms now a ‘civil wrong’, not a crime

By Rajeev Jayaswal
PUBLISHED ON JAN 23, 2021 05:25 AM IST
In line with a commitment made by the finance minister, the government formally notified that non-compliance with CSR provisions would be a “civil wrong,” not a crime, and shifted such violations to a penalty regime, two officials said, requesting anonymity.
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Intel shares fell 4.6% in early trading in New York.(Bloomberg)
Intel shares fell 4.6% in early trading in New York.(Bloomberg)

Intel tumbles after new CEO recommits to chip manufacturing

Bloomberg
PUBLISHED ON JAN 22, 2021 08:00 PM IST
  • Keeping chip production in-house may be bad for Intel because its manufacturing technology has fallen behind Taiwan Semiconductor Manufacturing Co., which makes chips for many of Intel’s rivals. If the US company can’t catch up, its products will become less competitive, lose sales and market share.
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The IPO has received bids for 64.58 crore shares against an offer size of 55.18 lakh shares.(AP Representative image)
The IPO has received bids for 64.58 crore shares against an offer size of 55.18 lakh shares.(AP Representative image)

Indigo Paints IPO garners robust response; subscribed 117 times on final day

PTI, New Delhi
PUBLISHED ON JAN 22, 2021 06:34 PM IST
The price band was fixed at 1,488-1,490 a share for the initial share-sale, which was open for public subscription during January 20-22.
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The Infosys co-founder also noted that the pandemic has brought changes in consumer behaviour
The Infosys co-founder also noted that the pandemic has brought changes in consumer behaviour

India will be role model on how to vaccinate billion people at scale: Nilekani

PTI, New Delhi
PUBLISHED ON JAN 22, 2021 06:02 PM IST
Speaking at Redseer's Ground Zero 4.0 event, Nilekani spoke on how to build for scale in India that presents a massive opportunity with a booming internet penetration and rising adoption of digital services.
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Amazon and Flipkart together control 81% of India’s online market share, while RIL’s online services are estimated at 1% market share in 2020.mint(MINT_PRINT)
Amazon and Flipkart together control 81% of India’s online market share, while RIL’s online services are estimated at 1% market share in 2020.mint(MINT_PRINT)

Govt has pledged strict foreign investment rules for e-commerce, says CAIT

Reuters, New Delhi
PUBLISHED ON JAN 22, 2021 05:34 PM IST
India's e-commerce retail market is seen growing to $200 billion a year by 2026, from $30 billion in 2019.
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The oil market will be able to accommodate Iran’s maximum oil output of around 3.9 million to 4 million barrels a day.(Reuters/ File photo)
The oil market will be able to accommodate Iran’s maximum oil output of around 3.9 million to 4 million barrels a day.(Reuters/ File photo)

Iran starts ramping up oil production to pre-sanctions levels

Bloomberg, Tehran
PUBLISHED ON JAN 22, 2021 04:47 PM IST
  • Iran has been subject to tough US sanctions since 2018, when the administration of then-President Donald Trump unilaterally withdrew from an international deal that restricted the Middle Eastern country’s nuclear activities. Its crude production was below 2 million barrels a day for most of 2020.
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In this time exposure taken from Westgate Cocoa Beach Pier in Cocoa Beach, Fla., a SpaceX Falcon 9 rocket lifts off from Pad 40 at Cape Canaveral Air Force Station, Fla., Tuesday, Nov. 24, 2020. The rocket is carrying the 16th batch of Starlink communications satellites. (Malcolm Denemark/Florida Today via AP)(AP)
In this time exposure taken from Westgate Cocoa Beach Pier in Cocoa Beach, Fla., a SpaceX Falcon 9 rocket lifts off from Pad 40 at Cape Canaveral Air Force Station, Fla., Tuesday, Nov. 24, 2020. The rocket is carrying the 16th batch of Starlink communications satellites. (Malcolm Denemark/Florida Today via AP)(AP)

Elon Musk targets telecom for next disruption with Starlink internet

Bloomberg
PUBLISHED ON JAN 22, 2021 04:40 PM IST
SpaceX has told investors that Starlink is angling for a piece of a $1 trillion market made up of in-flight internet, maritime services, and demand in China and India.
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Similarly, the broader NSE Nifty tumbled 218.45 points or 1.5 per cent to 14,371.90.(PTI photo)
Similarly, the broader NSE Nifty tumbled 218.45 points or 1.5 per cent to 14,371.90.(PTI photo)

Sensex tanks 746 points; Nifty ends below 14,375

PTI, Mumbai
PUBLISHED ON JAN 22, 2021 04:15 PM IST
Axis Bank was the top loser in the Sensex pack, shedding over 4 per cent, followed by Asian Paints, SBI, IndusInd Bank, ICICI Bank, Bajaj Finance, HDFC and Reliance.
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A Google Project Loon internet balloon is seen at the Google I/O 2016 developers conference in Mountain View, California May 19, 2016.(REUTERS)
A Google Project Loon internet balloon is seen at the Google I/O 2016 developers conference in Mountain View, California May 19, 2016.(REUTERS)

Google parent-company shutting Loon, balloon-based alternative to cell towers

Reuters
PUBLISHED ON JAN 22, 2021 04:01 PM IST
Loon aimed to bring connectivity to areas of the world where building cell towers are too expensive or treacherous.
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The fairer sex is playing a more active role with respect to investment decisions even though that juncture where women do not have to walk that extra mile for being taken seriously in money matters is eons away.
The fairer sex is playing a more active role with respect to investment decisions even though that juncture where women do not have to walk that extra mile for being taken seriously in money matters is eons away.

How traditional finance management methods by women continue to be relevant now

By HT Brand Studio
PUBLISHED ON JAN 22, 2021 02:40 PM IST
As the role of women in shaping the finances of the household continues to evolve, it is important to know that the traditional investment tactics employed by women has also catalysed the remodeling of women’s relationship with finance because those methods continue to be relevant even today.
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Airbus slows production ramp-up, cites virus hit to demand (Reuters file photo)
Airbus slows production ramp-up, cites virus hit to demand (Reuters file photo)

Airbus slows production ramp-up, cites virus hit to demand

Bloomberg
PUBLISHED ON JAN 22, 2021 02:36 PM IST
Output of the A320, its best-selling model, will now rise gradually to 45 per month through the fourth quarter, Airbus said in a statement.
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