On-demand cab booking company Ola has raised over Rs 520 crore ($74 million) from Hong Kong-based hedge fund Steadview Capital with the issuance of 2.45 lakh shares, according to the company’s latest documents filed with the Ministry of Corporate Affairs, PTI reported. The new fundraising is part of Ola’s plan to raise around $1 billion, …
Continue reading “Ola adds $74 million to its war chest in global battle with Uber”
Few outside of the food service industry know about Olo, a 13.5-year-old, New York-based mobile and online ordering platform for 250 restaurant chains, from Applebee’s to Cheesecake Factory, from Chipotle to Denny’s and from Jamba Juice to Chili’s. Tiger Global has been tracking the company’s growth, however. In fact, in a new secondary transaction, Tiger just …
French startup Taster, formerly known as Mission Food, is building restaurants around big cities specifically for Deliveroo, UberEats and Glovo. These restaurants don’t have any tables, they’re all about serving food on online platforms. The startup just raised a $4 million funding round led by Sunstone Capital, with Global Founders Capital, Thierry Gillier and LocalGlobe also …
Continue reading “Taster creates restaurants for Deliveroo and UberEats”
Food delivery startup Swiggy has raised $1 billion in Series H funding round led by its existing investor Naspers, the investor firm said in a statement today. The new round has reportedly shot up Swiggy’s valuation to $3.3 billion. Naspers claimed that Swiggy has doubled its gross merchandise value in the last six months without …
A year ago, DoorDash Inc. looked like just another meal delivery app maker on its way out. The company was burning cash as it struggled to differentiate its software from that of Uber Eats, GrubHub Inc., and other competitors, and it had recently sold shares that valued the company at less than its previous funding round. Then something strange …
Chicago-based food conglomerate Kraft Heinz launched Evolv Ventures in October, a new $100 million venture fund designed to provide capital to tech startups disrupting the food industry. To help lead the firm, Evolv announced Thursday that it has named Steve Sanger, Grubhub’s former vice president of business development, a partner at the firm. He joins Bill Pescatello, a former …
Continue reading “Kraft Heinz Hires Former Grubhub Exec for its $100M Food-Tech Venture Firm”
Keith McCarty couldn’t stay out of the booming weed business for long. The co-founder and former chief executive officer of the well-fundedmarijuana delivery startup Eaze has launched WAYV, a B2B cannabis logistics and compliance platform that delivers inventory to cannabis retailers. Today, the company is announcing its first round of funding, a $5 million seed round led by David Sacks at …
Continue reading “Eaze co-founder Keith McCarty raises $5M for his new B2B cannabis startup”
Madison-based food delivery startup EatStreet Inc. is raising a new equity funding round of up to $12 million, according to a new SEC filing. EatStreet has so far raised $6.1 million from eight investors since the offering began Oct. 9, the filing says. The proceeds of the funding round are to be used for general corporate purposes. …
So, without further ado, I present to you the Crunchbase News Not Very Complete Unicorn Lose-Money-A-Thon leaders: Uber: $891 million net loss last quarter (source, more on the quarter). Didi: $580 million in the first half of 2018 (source). Lyft: $373 million in H1’18 (source, more on the matter). Meituan (now public): $3.3 billion loss for the four-month period ending April …
Ross Lipson, the chief executive officer and co-founder of the on-demand marijuana and cannabis delivery service, Dutchie, had thought he was done with the online delivery business. Instead, he’s launched a new delivery service that has just raised $3 million from Casa Verde Capital, the $45 million venture firm founded by hip hop impresario Snoop Dogg, and Kevin …
