🇮🇳 Roundup: Pine Labs to raise $500m in US listing, and more (Updated)

Update (January 10, 9:24 pm): Adds funding news of Crib

Startups in India, including Zluri, Power Gummies, and The ePlane Company, collectively raised at least US$21 million in disclosed funding today from international and local investors.

Here’s a snapshot of fundraising:

Here’s some important tech news from India today:

Temasek-backed Pine Labs to raise US$500 million in US listing

Pine Labs has reportedly filed documents with the US Securities and Exchange Commission for a New York IPO in the first half of this year. It could potentially raise around US$500 million from the public listing process.

In July 2021, Pine Labs raised US$600 million in the new round of funding from Fidelity Management & Research, Ishana, and Tree Line.

The merchant platform also acquired Southeast Asian fintech platform Fave in a cash and stock deal worth US$45 million in April 2021.

Moglix to raise up to US$200 million at US$2.5 billion valuation

B2B ecommerce firm Moglix is reportedly in talks with new and existing investors, including Falcon Edge Capital, Tiger Global, and Sequoia, to raise between US$150 million and US$200 million.

In May 2021, it raised US$120 million in a series E round led by Falcon Edge Capital and Harvard Management Company. The deal boosted the company’s valuation to US$1 billion.

Moglix currently provides products from 16,000 suppliers to more than 500,000 small and medium-sized enterprises and 3,000 manufacturing plants across India, Singapore, the United Arab Emirates, and the UK.

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