🇮🇳 Roundup: Zomato founder sells Grofers stake to Tiger Global, more

Startups in India, including Bombay Shaving Company, Pillow, and Eeki Foods, have raised at least US$11.6 million in funding over the past day from international and local investors.

Here’s a snapshot of the fundraising:

Here’s some important tech news from India today:

Zomato founder sells Grofers shares to Tiger Global

Tiger Global now holds nearly 3 million shares in Grofers International, the parent firm of quick commerce platform Blinkit, reported The Economic Times.

In November, Zomato said that it would deploy US$1 billion into startups, especially the ones that focus on quick commerce.

Previously, Zomato invested in logistics firm Shiprocket, health and fitness company Curefit, and shopping app Magicpin.

Indian govt allocates US$37.9 million for startup scheme

The country’s Startup India Seed Fund Scheme has received a budgetary allocation of 2.8 billion rupees (US$37.9 million).

The scheme helps startups with funding for proof-of-concepts, prototype development, product trials, market entry, and commercialization.

It also enables startups to raise investments from angel investors or venture capitalists and borrow loans from commercial banks or financial institutions.

Currency converted from Indian rupees to US dollars: US$1 = 74.7 rupees.

Follow the rest of our India coverage here.