🇮🇳 Roundup: B2B unicorn Udaan raises $250m, and other news

Startups in India, including Bombay Shaving Company and Living Food have collectively raised at least US$29 million in disclosed funding today from international and local investors.

Here’s a snapshot of the fundraising:

Here’s some important tech news in India today:

B2B unicorn Udaan raises US$250 million in debt

Udaan has reportedly raised US$250 million through convertible notes and debt, according to an internal email sent by one of the company’s top executives to its employees.

However, in the email, the company did not disclose the investors of the debt financing round.

Udaan recently named its co-founder Vaibhav Gupta as its CEO ahead of a potential public listing.

IPO-bound Delhivery to pour up to $30m into logistics automation firm

Delhivery will reportedly invest between US$20 million to US$30 million into Falcon Autotech, which offers intralogistics automation solutions and sortation systems.

The delivery firm’s investment in Falcon is part of the former’s broader strategy to back future-ready hardware solutions.

Delhivery also raised US$125 million from Addition in September and is reportedly set to raise another US$500 million via a public listing in March 2022.

Borzo buys 90-minute delivery service provider

Amsterdam-based Borzo, a same-day intracity delivery service for businesses, has acquired express delivery firm Now for an undisclosed sum.

The acquisition will help Borzo penetrate the Indian market and provide more tailored delivery options to its customers. After the deal, Now will remain an independent brand.